Phipps Neighborhoods Inc
- Assets
- $18.4m
- Revenue
- $18.1m
- Investments
- $337.5k
- Employees
- 392
- Location
- New York, NY
- Founding
- 03/1973
- Data as of
- 06/2022
- EIN
- 13-2707665
Organization Overview
Phipps Neighborhoods Inc is located in New York, NY. The organization was established in 1973. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Phipps Neighborhoods Inc employed 392 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phipps Neighborhoods Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Phipps Neighborhoods Inc generated $18.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $16.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL AND SOCIAL SERVICES TO LOW-INCOME INDIVIDUALS, TYPICALLY IN COMMUNITIES IN WHICH PHIPPS HOUSES OWNS AND/OR SPONSORS HOUSING DEVELOPMENTS. THE ORGANIZATION PROVIDES A BROAD RANGE OF PROGRAMS, WHICH INCLUDE EDUCATION, RECREATION, CHILD CARE, YOUTH DEVELOPMENT, CASE MANAGEMENT AND EMPLOYMENT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH PROGRAMS - CONSISTS OF AFTER-SCHOOL EDUCATIONAL AND RECREATIONAL PROGRAMS BEACON SITES, AND SUMMER CAMP PROGRAMS.A) AFTER-SCHOOL PROGRAMS - (PRIMARILY FUNDED BY THE NEW YORK CITY DEPARTMENT OF YOUTH AND COMMUNITY DEVELOPMENT ("DYCD") AND THE NEW YORK STATE EDUCATION DEPARTMENT. THEY INCLUDE EIGHT SCHOOL-BASED PROGRAMS ANDAND FIVE COMMUNITY SCHOOL PROGRAMS PROVIDING STRUCTURED EDUCATIONAL, RECREATIONAL, AND CULTURAL ENRICHMENT ACTIVITIES TO ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS.B) BEACON/CORNERSTONE PROGRAMS - (FUNDED BY DYCD) ARE A MULTI-SERVICE HUBS, LOCATED IN SCHOOLS OR NEW YORK CITY HOUSING AUTHORITY DEVELOPMENTS, PROVIDING A VARIETY OF AFTERSCHOOL, WEEKEND, AND SUMMER PROGRAMS FOR YOUTH, FAMILIES AND THE COMMUNITY, INCLUDING: STRUCTURED EDUCATIONAL PROGRAMS WITH AN EMPHASIS ON LITERACY, LEADERSHIP DEVELOPMENT, COMMUNITY OUTREACH AND IMPROVEMENT, AND CULTURAL AND RECREATIONAL ACTIVITIES.
SUPPORTIVE HOUSING - CONSISTS OF PROGRAMS PROVIDING SOCIAL SERVICES TO CHRONICALLY HOMELESS SINGLE ADULTS OR ADULT FAMILIES WITH A HEAD OF HOUSEHOLD WHO HAS A SERIOUS MENTAL ILLNESS, A SUBSTANCE USE DISORDER OR CO-OCCURING SMI AND SUD. YOUNG ADULTS TRANSITIONING FROM THE NYC FOSTER CARE SYSTEM ALSO RECEIVE SUPPORTIVE HOUSING FROM PHIPPS NEIGHBORHOODS AT ITS LOCATIONS: HONEYWELL APARTMENTS (912 E 178TH ST, BRONX, NY 10460), COURTLANDT COMMUNITY (929 COURTLANDT AVE, BRONX, NY 10451), AND LEE GOODWIN SITE (950 PROSPECT AVENUE, BRONX, 10460). THE NEW YORK CITY DEPARTMENT OF HEALTH AND MENTAL HYGIENE FUNDS LEE GOODWIN HOUSES.
EDUCATION & EMPLOYMENT PROGRAMS - CONSIST OF CENTER-BASED PROGRAMMING AND INCLUDE SEVERAL PROGRAMS TO PROVIDE TEENS AND YOUNG ADULTS CONTINUING EDUCATION, INCLUDING COLLEGE AND CAREER AWARENESS, AND WORK READINESS SKILLS. PHIPPS CAREER NETWORK PROGRAMS HELP OUT-OF-SCHOOL AND OUT-OF-WORK YOUNG PEOPLE AND UNEMPLOYED ADULTS START CAREERS IN HEALTHCARE AND BUILDING SERVICES.A) PHIPPS NEIGHBORHOODS CENTER AT 178TH STREET PROVIDES ASSISTANCE WITH ACCESSING PUBLIC BENEFITS, AND EMPLOYMENT COACHING AND RESOURCES.B) PHIPPS NEIGHBORHOODS OPPORTUNITY CENTER AT MELROSE AND WEST FARMS ARE COMMUNITY-BASED ADULT EDUCATION CENTERS THAT OFFER A RANGE OF PROGRAMS,INCLUDING LITERACY, FINANCIAL COUNSELING, TECHNOLOGY, WORKFORCE, AND A FOOD PANTRY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Weinstein Chairperson | OfficerTrustee | 1 | $0 |
Albanery Roman Trustee | Trustee | 1 | $0 |
Dita Amory Trustee | Trustee | 1 | $0 |
Dr Larry Johnson Trustee | Trustee | 1 | $0 |
James Smith Trustee | Trustee | 1 | $0 |
James Weiner Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
B Green Construction Corp Construction Service | 6/29/21 | $663,117 |
Astor Services For Children And Fam Child Care Agency | 6/29/21 | $178,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,013,996 |
| Related organizations | $79,598 |
| Government grants | $12,219,935 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,503,929 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,817,458 |
| Total Program Service Revenue | $175,682 |
| Investment income | $123,395 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $97,478 |
| Net Income from Fundraising Events | -$134,846 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,079,167 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,296,107 |
| Pension plan accruals and contributions | $525,611 |
| Other employee benefits | $799,454 |
| Payroll taxes | $918,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,945 |
| Fees for services: Accounting | $105,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $928,488 |
| Advertising and promotion | $1,878 |
| Office expenses | $1,164,193 |
| Information technology | $45,375 |
| Royalties | $0 |
| Occupancy | $227,946 |
| Travel | $317,390 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $439,941 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,117 |
| Insurance | $254,845 |
| All other expenses | $444,831 |
| Total functional expenses | $16,648,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,219,398 |
| Savings and temporary cash investments | $132,027 |
| Pledges and grants receivable | $5,033,251 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,215,550 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $778,754 |
| Net Land, buildings, and equipment | $686,817 |
| Investments—publicly traded securities | $6,750,273 |
| Investments—other securities | $337,507 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,206,387 |
| Total assets | $18,359,964 |
| Accounts payable and accrued expenses | $7,145,327 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,145,327 |
| Net assets without donor restrictions | $1,343,110 |
| Net assets with donor restrictions | $9,871,527 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,359,964 |