Rochester Housing Development Fund Corporation
- Assets
- $5.2m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Rochester, NY
- Founding
- 03/2002
- Data as of
- 03/2022
- EIN
- 16-1607165
Organization Overview
Rochester Housing Development Fund Corporation is located in Rochester, NY. The organization was established in 2002. 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. As of 03/2022, Rochester Housing Development Fund Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester 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 03/2022, Rochester Housing Development Fund Corporation generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $2.6m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 7 years. 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 FINANCE THE ACQUISITION AND REHABILITATION OF HOUSING FOR LOW-INCOME INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRED, REHABILITATED AND SOLD 10 SINGLE FAMILY HOMES TO ELIGIBLE FIRST TIME HOMEBUYERS FROM 4/1/21-3/31/22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Dallis Chair | OfficerTrustee | 1 | $0 |
Theodora Finn President | Officer | 10 | $0 |
Larry Francer Board Member | Trustee | 1 | $0 |
Johanna Santiago Board Member | Trustee | 1 | $0 |
Gerald D Dimarco ESQ Board Member | Trustee | 1 | $0 |
Julio Vazquez Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sparta Painting & Construction Construction | 3/30/22 | $456,393 |
Benjamin M Ortiz Construction | 3/30/22 | $204,105 |
Miquel Rosario Dba Rosario Home Improvem Construction | 3/30/22 | $106,653 |
Meeks Construction Group Construction | 3/30/22 | $191,842 |
Morrison Construction & Painting Construction | 3/30/22 | $629,540 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,517 |
| 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 | $208,517 |
| Total Program Service Revenue | $2,291,177 |
| Investment income | $67,541 |
| 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 | $2,637,743 |
| 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 | $167,247 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,889 |
| Payroll taxes | $14,364 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $844 |
| Fees for services: Accounting | $9,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,792 |
| Advertising and promotion | $0 |
| Office expenses | $5,831 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,968 |
| Travel | $595 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $459 |
| Interest | $71,934 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,000 |
| Insurance | -$3,840 |
| All other expenses | $0 |
| Total functional expenses | $2,618,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,428,753 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $66,321 |
| Accounts receivable, net | $1,996,765 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,111 |
| Other assets | $682,428 |
| Total assets | $5,176,378 |
| Accounts payable and accrued expenses | $99,274 |
| Grants payable | $0 |
| Deferred revenue | $50,961 |
| 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 | $3,925,330 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $964,990 |
| Total liabilities | $5,040,555 |
| Net assets without donor restrictions | $132,823 |
| Net assets with donor restrictions | $3,000 |
| 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 | $5,176,378 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rochester Housing Development Fund Corporation has recieved totaling $162,013.
| Awarding Organization | Amount |
|---|---|
Rochester Land Bank Corporation Rochester, NY PURPOSE: HOUSING IN ROCHESTER, NY FOR REHABILITATION | $162,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Affordable Housing Alliance Inc Neptune, NJ | $23,008,220 | $15,041,931 |
New Community Corporation Newark, NJ | $92,222,632 | $16,838,314 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |