Housing Partnership Development Corporation
- Assets
- $10.3m
- Revenue
- $6.3m
- Investments
- $78.6k
- Employees
- 36
- Location
- New York, NY
- Founding
- 10/1984
- Data as of
- 12/2022
- EIN
- 13-3202014
Organization Overview
Housing Partnership Development Corporation is located in New York, NY. The organization was established in 1984. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Housing Partnership Development Corporation employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Partnership Development Corporation 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 12/2022, Housing Partnership Development Corporation generated $6.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $6.1m during the year ending 12/2022. While expenses have increased by 7.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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 INCREASE SUPPLY OF LOW/MODERATE HOUSING IN NEW YORK CITY THROUGH NEW HOUSING PRODUCTION AND PRESERVATION, AND TO REVITALIZE NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR 2022, HOUSING PARTNERSHIP DEVELOPMENT CORPORATION (HPDC) HAS SUCCESSFULLY CONTINUED ITS WORK TO INCREASE THE SUPPLY OF LOW AND MODERATE PROCEED HOUSING IN THE NYC METRO AREA THROUGH NEW HOUSING PRODUCTION, PRESERVATION AND REHABILITATION OF DISTRESSED PROPERTIES AS WELL AS RENTAL HOUSING.
PROSPECTIVE HOME BUYERS WERE PROVIDED WITH COUNSELING COURSES TO EDUCATE THEM IN THE ADVANTAGES OF HOME OWNERSHIP, FINANCIAL PLANNING AND UNDERSTANDING DEBT.WE ARE FOCUSING ON THE INTERSECTION OF AFFORDABLE HOUSING AND ENERGY INVESTMENT. WE ANALYZE SOLAR AND ENERGY INVESTMENT OPPORTUNITIES ACROSS PORTFOLIOS OF AFFORDABLE HOUSING ASSETS AND PARTNER WITH HOUSING OWNERS TO EXECUTE ON THOSE PROJECTS.
PROSPECTIVE HOME BUYERS WERE PROVIDED WITH COUNSELING COURSES TO EDUCATE THEM IN THE ADVANTAGES OF HOME OWNERSHIP, FINANCIAL PLANNING AND UNDERSTANDING DEBT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Hedden Board Chair | OfficerTrustee | 1 | $0 |
James Bason Director | Trustee | 1 | $0 |
Matthew Bissonette Director | Trustee | 1 | $0 |
Andrew Blumetti Director | Trustee | 1 | $0 |
Louise Caroll Director | Trustee | 1 | $0 |
Adolfo Carrion Director, Ex Officio | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cpc Funding Spe Llc Development | 12/30/20 | $862,156 |
Ppd Park Development Llc Development | 12/30/20 | $477,556 |
Holland & Knight Llp Development | 12/30/20 | $175,000 |
Extell Development Development | 12/30/20 | $175,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $115,960 |
| Related organizations | $250,000 |
| Government grants | $615,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $901,730 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,882,690 |
| Total Program Service Revenue | $4,342,437 |
| Investment income | $46,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$21,805 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,252,837 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $615,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,424,201 |
| Compensation of current officers, directors, key employees. | $170,752 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,690,967 |
| Pension plan accruals and contributions | $111,898 |
| Other employee benefits | $245,775 |
| Payroll taxes | $231,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $84,800 |
| Fees for services: Lobbying | $24,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $767,006 |
| Advertising and promotion | $14,325 |
| Office expenses | $155,614 |
| Information technology | $220 |
| Royalties | $0 |
| Occupancy | $474,387 |
| Travel | $3,943 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,576 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,113 |
| Insurance | $88,341 |
| All other expenses | $0 |
| Total functional expenses | $6,094,490 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,953,594 |
| Savings and temporary cash investments | $519,163 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,111,691 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $283,175 |
| Net Land, buildings, and equipment | $265,271 |
| Investments—publicly traded securities | $1,652,840 |
| Investments—other securities | $78,593 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,418,787 |
| Total assets | $10,283,114 |
| Accounts payable and accrued expenses | $342,378 |
| Grants payable | $0 |
| Deferred revenue | $11,000 |
| 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 | $3,028,395 |
| Total liabilities | $3,381,773 |
| Net assets without donor restrictions | $6,432,170 |
| Net assets with donor restrictions | $469,171 |
| 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 | $10,283,114 |