New Destiny Housing Corporation
- Assets
- $16.1m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 182
- Location
- New York, NY
- Founding
- 05/1995
- Data as of
- 06/2024
- EIN
- 13-3778489
Organization Overview
New Destiny Housing Corporation is located in New York, NY. The organization was established in 1995. 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 06/2024, New Destiny Housing Corporation employed 182 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Destiny Housing 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 06/2024, New Destiny Housing Corporation generated $10.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 26.2% each year . All expenses for the organization totaled $10.7m during the year ending 06/2024. While expenses have increased by 25.3% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
NEW DESTINY PROVIDES PERMANENT HOUSING & SERVICES FOR HOMELESS DOMESTIC VIOLENCE SURVIVORS AND OTHER LOW-INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY 2024 NEW DESTINY OPERATED TWO DIRECT SERVICE PROGRAMS THE FAMILY SUPPORT PROGRAM AND HOUSING ACCESS AND STABILITY SERVICES.THE FAMILY SUPPORT PROGRAM PROVIDES VOLUNTARY ON-SITE SERVICES AT NEW DESTINY'S PERMANENT HOUSING TO PROMOTE HOUSING STABILITY, PREVENT OR, IF NECESSARY, RESPOND TO INCIDENTS VIOLENCE, AND IMPROVE THE OVERALL WELL-BEING AND ECONOMIC PROGRESS OF TENANTS. ON-SITE SERVICES INCLUDE COMMUNITY BUILDING EVENTS, PARENTING SUPPORT GROUPS, SAFETY POB READINESS. LEGAL, HEALTH, AND JOB TRAINING SERVICES ARE PROVIDED THROUGH PARTNERSHIPS WITH LOCAL AND CITYWIDE PARTNERS.
HOUSING ACCESS AND STABILITY SERVICES IS A RAPID REHOUSING PROGRAM THAT FOCUSES ON CONNECTING SURVIVORS TO PERMANENT HOUSING AS QUICKLY AND SAFELY AS POSSIBLE. THE GOAL IS TO PREVENT OR SHORTEN STAYS IN NEW YORK CITY'S HOMELESS SHELTER SYSTEMS. CLIENTS RECEIVE REFERRALS TO UNITS IN AREAS SELF-IDENTIFIED AS SAFE. THEY ALSO RECEIVE HANDS-ON SUPPORT TO SECURE THE UNIT INCLUDING ASSISTANCE WITH THE LEASING AND MOVING PROCESS. THE PROGRAM ALSO OFFERS SHORT TERM RENTAL ASSISTANCE, FINANCIAL COACHING, SUPPORTIVE SERVICES SUCH AS CHILDCARE, TRANSPORTATION ASSISTANCE, LICENSING FEES, AND REFERRALS FOR TRAINING AND MENTAL HEALTH NEEDS. THE TEAM ROUNDS OUT SERVICES BY PROVIDING HOUSING TRAINING AND TECHNICAL ASSISTANCE TO DOMESTIC VIOLENCE SURVIVORS AND THEIR ADVOCATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Firment Chair | OfficerTrustee | 0.5 | $0 |
Vaughn Burke Le Duc Safarov Vice Chair | OfficerTrustee | 0.5 | $0 |
Blanca J Ramirez 2nd Vice Chair | OfficerTrustee | 0.5 | $0 |
Paula M Sarro Secretary | OfficerTrustee | 0.5 | $0 |
Charles E Mclean Jr Asst. Secretary Thru 7/15/23 | OfficerTrustee | 0.5 | $0 |
Rachel E Miller Treasurer | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Safewatch Security Group Inc Security Services For Tenant Buildings | 6/29/24 | $208,629 |
University Settlement-consultation Cente Ehv Mental Health Aftercare Clinical Ser | 6/29/24 | $132,000 |
Intelligent Designs Inc Computer Technical Support | 6/29/24 | $111,242 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $121,992 |
| Related organizations | $0 |
| Government grants | $8,230,997 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,427,676 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,780,665 |
| Total Program Service Revenue | $750,336 |
| Investment income | $192,156 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,281 |
| Net Income from Fundraising Events | -$33,802 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,789,755 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,902,916 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $518,793 |
| Compensation of current officers, directors, key employees. | $70,689 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,752,531 |
| Pension plan accruals and contributions | $101,806 |
| Other employee benefits | $310,482 |
| Payroll taxes | $481,167 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $265 |
| Fees for services: Accounting | $46,683 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $574,908 |
| Advertising and promotion | $4,210 |
| Office expenses | $177,968 |
| Information technology | $211,636 |
| Royalties | $0 |
| Occupancy | $288,046 |
| Travel | $2,602 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $47,550 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,373 |
| Insurance | $0 |
| All other expenses | $5,752 |
| Total functional expenses | $10,731,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,637,241 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,701,587 |
| Accounts receivable, net | $1,618,151 |
| 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 | $42,383 |
| Net Land, buildings, and equipment | $125,695 |
| Investments—publicly traded securities | $597,062 |
| Investments—other securities | $0 |
| Investments—program-related | $4,156,602 |
| Intangible assets | $0 |
| Other assets | $1,182,738 |
| Total assets | $16,061,459 |
| Accounts payable and accrued expenses | $626,296 |
| Grants payable | $0 |
| Deferred revenue | $643,699 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,966 |
| 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 | $760,642 |
| Total liabilities | $2,035,603 |
| Net assets without donor restrictions | $13,356,023 |
| Net assets with donor restrictions | $669,833 |
| 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 | $16,061,459 |