Fordham Bedford Housing Corp
- Assets
- $73.3m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 66
- Location
- Bronx, NY
- Founding
- 08/1980
- Data as of
- 12/2021
- EIN
- 13-3010578
Organization Overview
Fordham Bedford Housing Corp is located in Bronx, NY. The organization was established in 1980. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Fordham Bedford Housing Corp employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fordham Bedford Housing Corp 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 12/2021, Fordham Bedford Housing Corp generated $9.2m 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 (3.3%) each year. All expenses for the organization totaled $6.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Fordham Bedford Housing Corp has awarded 17 individual grants totaling $8,934,782. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
FBHC PROVIDES DIRECT PROPERTY MANAGEMENT FOR LOW INCOME HOUSING BUILDINGS.
FBHC PROVIDES SOCIAL SERVICE TO THE COMMUNITY. THIS CONSISTS OF AFTER-SCHOOL PROGRAMS, SUMMER RECREATIONAL ACTIVITIES FOR THE CHILDREN, ENGLISH AS A SECOND LANGUAGE AND CITIZENSHIP COURSES, AMONG OTHERS.
FBHC DEVELOPS AND RENOVATES MULTIFAMILY AFFORDABLE RENTAL HOUSING PROJECTS IN THE NORTHWEST BRONX.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John M Reilly Exececutive Director | OfficerTrustee | 40 | $358,407 |
Heng Ly Deputy Executive Director | Officer | 40 | $311,262 |
Gerard Wollweber Director Of Leasing | 40 | $191,026 | |
Robert Donovan Director Of Construction | 40 | $187,522 | |
Rosanna Viera Director Of Development | 40 | $184,047 | |
Phuong H Vang Director Of Financial Services | 40 | $175,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $82,508 |
| Related organizations | $0 |
| Government grants | $838,349 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $953,857 |
| Total Program Service Revenue | $7,994,459 |
| Investment income | $264,322 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$30,095 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,182,543 |
| 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. | $1,878,160 |
| Compensation of current officers, directors, key employees. | $131,471 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,206,480 |
| Pension plan accruals and contributions | $183,104 |
| Other employee benefits | $342,896 |
| Payroll taxes | $280,823 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $170,511 |
| Advertising and promotion | $5,591 |
| Office expenses | $291,146 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,158 |
| Insurance | $86,304 |
| All other expenses | $94,680 |
| Total functional expenses | $6,506,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,582,932 |
| Savings and temporary cash investments | $19,585,301 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,809,874 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,754,561 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $230,320 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,303,635 |
| Total assets | $73,266,623 |
| Accounts payable and accrued expenses | $716,744 |
| 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 | $7,943,571 |
| Total liabilities | $8,660,315 |
| Net assets without donor restrictions | $59,406,308 |
| Net assets with donor restrictions | $5,200,000 |
| 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 | $73,266,623 |
Grants Awarded
Over the last fiscal year, Fordham Bedford Housing Corp has awarded $104,015 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bronx, NY PURPOSE: SOCIAL SVC DONATION | $53,892 |
Bronx, NY PURPOSE: SOCIAL SVC DONATION | $50,123 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Fordham Bedford Housing Corp has recieved totaling $5,100.
| Awarding Organization | Amount |
|---|---|
East Coast Energy Foundation Inc Bronx, NY PURPOSE: COMMUNITY SPONSORED HOUSING | $5,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Affordable Housing Alliance Inc Neptune, NJ | $23,008,220 | $15,041,931 |
New Community Corporation Newark, NJ | $92,222,632 | $16,838,314 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |