The Promesa Housing Development Fund Corporation is located in Bronx, NY. The organization was established in 1992. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Promesa Housing Development Fund Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promesa Housing Development Fund 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 12/2021, Promesa Housing Development Fund Corporation generated $8.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $11.3m during the year ending 12/2021. While expenses have increased by 9.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENTITY WAS FOUNDED TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF BRONX COUNTY, NEW YORK
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lorraine Coleman SVP Development, Policy And Pl | 35 | $147,769 | |
David Almonte Director - Housing Development | 35 | $111,987 | |
Ralph Declet Director Of Affordable Housing | 35 | $106,759 | |
Cornelia Narovici Construction Director | 35 | $93,672 | |
Eliezer Rodriguez ESQ Chair | OfficerTrustee | 1 | $0 |
Marybeth Hotaling Treasurer | OfficerTrustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Tyler's Dimes Llc Rent | 12/30/19 | $1,636,000 |
Nbx Acquisition Llc Rent | 12/30/19 | $930,843 |
My Nyc Llc Rent | 12/30/19 | $627,269 |
Laxmi Management Llc Management | 12/30/19 | $2,250,000 |
Danaryn Services Llc It Consulting | 12/30/19 | $127,269 |
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 | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $8,538,119 |
Investment income | $867 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $8,538,986 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $125,103 |
Fees for services: Legal | $103,976 |
Fees for services: Accounting | $46,600 |
Fees for services: Lobbying | $1,301 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $3,205,925 |
Advertising and promotion | $0 |
Office expenses | $48,759 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $7,008,708 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $136,593 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $299,320 |
Insurance | $204,064 |
All other expenses | $167,877 |
Total functional expenses | $11,348,226 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,655,130 |
Savings and temporary cash investments | $1,583,094 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $6,501,388 |
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 | $214,046 |
Net Land, buildings, and equipment | $5,065,573 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $8,327,772 |
Intangible assets | $0 |
Other assets | $16,013,298 |
Total assets | $39,360,301 |
Accounts payable and accrued expenses | $1,124,600 |
Grants payable | $0 |
Deferred revenue | $65,758 |
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 | $3,494,143 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $19,573,642 |
Total liabilities | $24,258,143 |
Net assets without donor restrictions | $15,102,158 |
Net assets with donor restrictions | $0 |
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 | $39,360,301 |
Organization Name | Assets | Revenue |
---|---|---|
Community Action Committee Of Cape Cod & Islands Inc Hyannis, MA | $2,759,831 | $21,367,135 |
Community Action Inc Haverhill, MA | $8,979,922 | $19,940,316 |
The Promesa Housing Development Fund Corporation Bronx, NY | $39,360,301 | $8,538,986 |
Spanish American Civic Association For Equality Inc Lancaster, PA | $3,870,631 | $8,827,092 |
Northwest Bronx Community And Clergy Coalition Inc Bronx, NY | $5,985,223 | $6,738,060 |
Pennsylvania Rural Electric Assoc Harrisburg, PA | $2,337,852 | $4,606,290 |
O D A Community Development Corp Brooklyn, NY | $670,721 | $3,199,814 |
Citizens Committee For New York City Inc New York, NY | $7,691,250 | $2,979,222 |
Pennsylvania Rural Water Assn Bellefonte, PA | $3,869,851 | $3,373,669 |
Warren-Hamilton Counties Action Committee For Economic Opportunity Glens Falls, NY | $823,409 | $2,609,574 |
Vital Communities Inc White River Junction, VT | $1,663,364 | $2,954,150 |
Polish American Citizens Association Of Cambridge Incorpora Danvers, MA | $0 | $0 |