Grand Concourse East Housing Development Fund Corporation

Organization Overview

Grand Concourse East Housing Development Fund Corporation is located in Bronx, NY. The organization was established in 2004. 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 06/2021, Grand Concourse East Housing Development Fund Corporation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Concourse East 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 06/2021, Grand Concourse East Housing Development Fund Corporation generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

GRAND CONCOURSE EAST HDFC WAS ORGANIZED EXCLUSIVELY FOR THE CHARITABLE PURPOSE OF DEVELOPING HOUSING FOR THE NEEDY PERSONS OF LOW INCOME AT 225 EAST 163RD ST, 967 SHERMAN AVE, 1003 GRANT AVE AND1302 COLLEGE AVE, BRONX, NY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

GRAND CONCOURSE EAST HDFC IS A NONPROFIT CORPORATION THAT OPERATES, MANAGES, AND LEASES LOW-INCOME RENTAL PROPERTY TO QUALIFIED RENTALS UNDER THE NEW YORK CITY HOUSING PRESERVATION AND DEVELOPMENT AND THE NEIGHBORHOOD OWNERSHIP WORKS (NOW) PROGRAM. THE CORPORATION CURRENTLY OWNS TEN MULTIPLE DWELLINGS, WHICH WERE ACQUIRED UNDER THE NOW PROGRAM ON MAY 30, 1995 AND NOVEMBER 30, 1996.


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Board, Officers & Key Employees

Name (title)Compensation
Dr Madan Paul
Chairman
$0
Jeanette Puryear
Secretary/treasurer
$0
Zenon Arribalzaga
Board Member
$0
Juliette Cannady
Board Member
$0

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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$2,098,565
Investment income $73
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 $2,121,803

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