Fordham Bedford Housing Corp
- Assets
- $74.3m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 60
- Location
- Bronx, NY
- Founding
- 08/1980
- Data as of
- 12/2023
- 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 12/2023, Fordham Bedford Housing Corp employed 60 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 12/2023, Fordham Bedford Housing Corp generated $8.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $6.8m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 9 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
2023
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 |
|---|---|---|---|
Heng Ly Chief Executive Officer | OfficerTrustee | 40 | $355,900 |
Robert Donovan Director Of Construction | 40 | $192,336 | |
Manuela Schaudt Executive Director | 0 | $0 | |
Phuong H Vang Director Of Financial Services | 40 | $205,488 | |
Roxanna Chowdhry Executive Director | 0 | $0 | |
Gerard Wollweber Director Of Leasing | 40 | $195,979 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
East Coast Petroleum Oil & Gas Service | 12/30/23 | $2,331,015 |
All Pro Cleaning And Restoration Repair & Replacement | 12/30/23 | $1,842,330 |
Harrow Lumber Co Professional Service | 12/30/23 | $597,633 |
Emergency Boiler And Plumbing Servi Plumbing Service | 12/30/23 | $413,416 |
Bailey Repair Service Repair Service | 12/30/23 | $426,736 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $190,975 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $190,975 |
| Total Program Service Revenue | $8,069,115 |
| Investment income | $412,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $15,348 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,688,426 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $1,342,682 |
| Compensation of current officers, directors, key employees. | $93,988 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,097,092 |
| Pension plan accruals and contributions | $222,592 |
| Other employee benefits | $316,836 |
| Payroll taxes | $333,573 |
| 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 | $395,832 |
| Advertising and promotion | $0 |
| Office expenses | $200,301 |
| 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 | $41,590 |
| Insurance | $107,612 |
| All other expenses | $56,139 |
| Total functional expenses | $6,844,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,563,245 |
| Savings and temporary cash investments | $19,127,746 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,183,423 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,733,249 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $159,336 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,523,868 |
| Total assets | $74,290,867 |
| Accounts payable and accrued expenses | $813,296 |
| 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 | $6,846,359 |
| Total liabilities | $7,659,655 |
| Net assets without donor restrictions | $61,431,212 |
| 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 | $74,290,867 |
Grants Awarded
Over the last fiscal year, Fordham Bedford Housing Corp has awarded $104,015 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FORDHAM BEDFORD COMMUNITY SERVICE PURPOSE: SOCIAL SVC DONATION | $50,123 |
CONCOURSE HOUSE HDFC PURPOSE: SOCIAL SVC DONATION | $53,892 |