Prospect Housing Development Fund Corporation

Organization Overview

Prospect Housing Development Fund Corporation is located in Bronx, NY. The organization was established in 2005. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prospect 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 12/2022, Prospect Housing Development Fund Corporation generated $321.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $274.8k during the year ending 12/2022. While expenses have increased by 1.4% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE LOW INCOME TO MODERATE INCOME HOUSING OPPORTUNITIES FOR THE COMMUNITY

Describe the Organization's Program Activity:

Part 3 - Line 4a

REVENUES ARE GENERATED BY LOW TO MODERATE INCOME FAMILY SUBSIDIZED RENTALS OCCUPYING THE PROPERTY,THEREFORE MAINLY RENTAL INCOME DERIVED FROM THOSE RENTALS. THE ASSOCIATED EXPENSES REPRESENT ADMINISTRATIVE FEES, UTILITIES, REPAIR AND MAINTENANCE, AS WELL AS TAX AND INSURANCE EXPENSES ALL NECESSARY COMPONENTS TO EFFICIENTLY OPERATE THE PREMISES AND ABIDE BY REGULATIONS.


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Board, Officers & Key Employees

Name (title)Compensation
Paul Fracassi
Vice President
$0
Cecilia Ferro
Secretary
$0
Consolato Cicciu
President
$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$320,526
Investment income $798
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 $321,324

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