Phipps Neighborhoods Inc
- Assets
- $46.3m
- Revenue
- $30.2m
- Investments
- $419.0k
- Employees
- 351
- Location
- New York, NY
- Founding
- 03/1973
- Data as of
- 06/2021
- 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 06/2021, Phipps Neighborhoods Inc employed 351 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 06/2021, Phipps Neighborhoods Inc generated $30.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $14.5m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL & SOCIAL SERVICES TO LOW-INCOME INDIVIDUALS, TYPICALLY IN COMMUNITIES IN WHICH PHIPPS HOUSES OWNS AND/OR SPONSORS DEVELOPMENTS. (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosemary Ordonez Sr. Dir. Of Comm. Resources | 40 | $156,721 | |
Marquette Moore Deputy Executive Dir., Finance | 40 | $140,121 | |
Adam Weinstein Chairperson | OfficerTrustee | 1 | $0 |
James Robert Pigott Jr Secretary | Officer | 1 | $0 |
Brian Bricker Treasurer | Officer | 1 | $0 |
Andre White Executive Director/ceo | Officer | 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 | $10,858 |
| Membership dues | $0 |
| Fundraising events | $1,131,845 |
| Related organizations | $82,068 |
| Government grants | $26,487,892 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,309,592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,022,255 |
| Total Program Service Revenue | $884,269 |
| Investment income | $112,151 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $180,322 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,198,997 |
| 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 | $8,568,222 |
| Pension plan accruals and contributions | $743,187 |
| Other employee benefits | $754,888 |
| Payroll taxes | $878,612 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,914 |
| Fees for services: Accounting | $53,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $804,251 |
| Advertising and promotion | $7,405 |
| Office expenses | $1,008,288 |
| Information technology | $14,507 |
| Royalties | $0 |
| Occupancy | $210,134 |
| Travel | $98,931 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $94,495 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,247 |
| Insurance | $159,125 |
| All other expenses | $370,067 |
| Total functional expenses | $14,512,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,610,981 |
| Savings and temporary cash investments | $131,896 |
| Pledges and grants receivable | $32,650,401 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,213,217 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $488,749 |
| Net Land, buildings, and equipment | $693,935 |
| Investments—publicly traded securities | $8,080,564 |
| Investments—other securities | $419,048 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,053,243 |
| Total assets | $46,342,034 |
| Accounts payable and accrued expenses | $7,510,718 |
| 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 | $2,159,461 |
| Other liabilities | $0 |
| Total liabilities | $9,670,179 |
| Net assets without donor restrictions | -$1,696,483 |
| Net assets with donor restrictions | $38,368,338 |
| 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 | $46,342,034 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that Phipps Neighborhoods Inc has recieved totaling $909,501.
| Awarding Organization | Amount |
|---|---|
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $250,000 |
Charina Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $146,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $100,000 |
Pinkerton Foundation New York, NY PURPOSE: CAREER READINESS | $100,000 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $56,500 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $56,500 |
Endowment Analysis
| Beg. Balance | $6,612,480 |
| Earnings | $1,888,831 |
| Ending Balance | $8,501,311 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Quincy Community Action Programs Inc Quincy, MA | $14,865,186 | $43,148,267 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
St Nicks Alliance Corp Brooklyn, NY | $44,353,994 | $35,596,992 |
National Council For Community Development Inc Brooklyn, NY | $24,193,687 | $38,165,020 |
The Community Action Organization Of Western New York Inc Buffalo, NY | $11,956,609 | $31,001,421 |
Community Action Pioneer Valley Inc Greenfield, MA | $7,969,732 | $29,838,934 |
Citizens For Citizens Inc Fall River, MA | $12,279,316 | $29,399,731 |
The Mayors Fund To Advance New York City New York, NY | $28,518,749 | $18,611,480 |
Champlain Valley Office Of Economic Opportunity Inc Burlington, VT | $10,365,221 | $26,250,415 |
South Shore Community Action Council Inc Plymouth, MA | $12,504,709 | $24,231,175 |
Community Health Programs Inc Great Barrington, MA | $12,016,814 | $22,279,399 |