Rochester Housing Development Fund Corporation
- Assets
- $5.0m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Rochester, NY
- Founding
- 03/2002
- Data as of
- 03/2023
- 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 03/2023, 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 03/2023, Rochester Housing Development Fund Corporation generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $2.4m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 8 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
2023
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 7 SINGLE FAMILY HOMES TO ELIGIBLE FIRST TIME HOMEBUYERS FROM 4/1/22-3/31/23.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Dallis Chair | OfficerTrustee | 1 | $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 |
Linda Hedden Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sparta Painting & Construction Construction | 3/30/23 | $418,307 |
Morrison Construction & Painting Construction | 3/30/23 | $284,540 |
Benjamin M Ortiz Construction | 3/30/23 | $132,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $177,268 |
| 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 | $177,268 |
| Total Program Service Revenue | $2,060,595 |
| Investment income | $92,379 |
| 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 | $2,406,967 |
| 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 | $170,524 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,660 |
| Payroll taxes | $13,426 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,158 |
| Advertising and promotion | $0 |
| Office expenses | $1,896 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,596 |
| Travel | $771 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $93,400 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,111 |
| Insurance | $4,421 |
| All other expenses | $0 |
| Total functional expenses | $2,432,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,119,726 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $53,234 |
| Accounts receivable, net | $2,358,930 |
| 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 | $0 |
| Other assets | $468,138 |
| Total assets | $5,000,028 |
| Accounts payable and accrued expenses | $129,185 |
| Grants payable | $0 |
| Deferred revenue | $242,730 |
| 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 | $3,268,689 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,249,366 |
| Total liabilities | $4,889,970 |
| Net assets without donor restrictions | $107,058 |
| 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 | $5,000,028 |