Crescent Affordable Housing Corporation
- Assets
- -$1.6m
- Revenue
- $5.7k
- Investments
- $0.0
- Employees
- 0
- Location
- New Orleans, LA
- Founding
- 10/2005
- Data as of
- 12/2022
- EIN
- 20-0470082
Organization Overview
Crescent Affordable Housing Corporation is located in New Orleans, LA. The organization was established in 2005. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crescent Affordable 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 12/2022, Crescent Affordable Housing Corporation generated $5.7k 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 (47.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. 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
PARTICIPATE IN DEVELOPMENT OF AFFORDABLE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER YOUTH EMPLOYMENT PROGRAM FOR YOUTH AGES 14-21 WAS IMPLEMENTED TO PROVIDE SUMMER EMPLOYMENT OPPORTUNITIES TO RESIDENTS ASSISTED BY THE HOUSING AUTHORITY OF NEW ORLEANS (HANO).THE PROGRAM IS DESIGNED TO PROVIDE YOUTH A POSITIVE AND ENGAGING WORK EXPERIENCE THAT INCLUDES LIFE SKILLS TRAINING WHILE CONNECTING THEM TO COMMUNITY LEADERS, BUSINESS OWNERS AND OTHER STAKEHOLDERS. THE PROGRAM COVERS AN EIGHT-WEEK PERIOD WITH THE WORK WEEK NOT TO EXCEED 25 HOURS. THE PROGRAM EMPLOYS YOUTH WORKING IN AREAS OF INTEREST SUCH AS LAW, MEDICINE, MENTAL AND PHYSICAL HEALTH, NON- PROFIT ORGANIZATIONS SUCH AS BROADMOOR AND CAF RECONCILE AND THE LOCAL HUD OFFICE. THE 14-15 YEAR OLD STUDENTS WERE ALSO ENROLLED IN THE SIX-WEEK MODELS FOR SUCCESS PROGRAM HOSTED AT DILLARD UNIVERSITY. STUDENTS IN THE PROGRAM ARE EXPOSED TO CAREER EXPLORATION AND FINANCIAL LITERACY, HEALTHY LIFESTYLES, CREATIVE WRITING AND THE ARTS, AS WELL AS FOREIGN LANGUAGE.
INVESTMENT AS GENERAL PARTNER IN LOW INCOME HOUSING PARTNERSHIP PROJECTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Jackson Director | Trustee | 1 | $0 |
Cynthia Wiggins Director | Trustee | 1 | $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 | $0 |
| Investment income | $5,739 |
| 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 | $5,739 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,277,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,447,142 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,678,550 |
| 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 | -$6,337,601 |
| Intangible assets | $0 |
| Other assets | $651,342 |
| Total assets | -$1,560,567 |
| Accounts payable and accrued expenses | $10,691 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,221,778 |
| Total liabilities | $1,232,469 |
| Net assets without donor restrictions | -$2,793,036 |
| Net assets with donor restrictions | $0 |
| 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 | -$1,560,567 |