Restored Homes Housing Development Fund Corporation
- Assets
- $19.5m
- Revenue
- $472.3k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/2006
- Data as of
- 12/2021
- EIN
- 20-3853610
Organization Overview
Restored Homes Housing Development Fund Corporation is located in New York, NY. The organization was established in 2006. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, 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. Restored Homes 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 12/2021, Restored Homes Housing Development Fund Corporation generated $472.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $594.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.8%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PRESERVING AND CREATING, ON A NON-PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. DURING THE YEAR, THE ORGANIZATION PROVIDED CONSTRUCTION MANAGEMENT AND MARKETING/SALES OF A NUMBER OF AFFORDABLE HOUSING PROJECTS IN NYC.
THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PRESERVING AND CREATING, ON A NON-PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. DURING THE YEAR, THE ORGANIZATION PROVIDED CONSTRUCTION MANAGEMENT AND MARKETING/SALES OF A NUMBER OF AFFORDABLE HOUSING PROJECTS IN NYC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Salvatore D'avola Assistant Secretary | Officer | 5 | $18,024 |
Mr Brian Segel President | OfficerTrustee | 0 | $0 |
Mr Nicholas Lembo Vice President | OfficerTrustee | 0 | $0 |
Ms Valerie White Treasurer | OfficerTrustee | 0 | $0 |
Ms Lydia Tom Secretary | OfficerTrustee | 0 | $0 |
Mr Richard Pinner Assistant Secretary | Officer | 0 | $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 | $83,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $83,750 |
| Total Program Service Revenue | $358,645 |
| Investment income | $29,865 |
| 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 | $472,260 |
| 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. | $18,024 |
| Compensation of current officers, directors, key employees. | $13,518 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,418 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,688 |
| Payroll taxes | $27,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,750 |
| Fees for services: Accounting | $11,180 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,683 |
| Advertising and promotion | $0 |
| Office expenses | $2,514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,759 |
| Travel | $10,811 |
| 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 | $15,927 |
| All other expenses | $0 |
| Total functional expenses | $594,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,055,386 |
| Savings and temporary cash investments | $12,740,398 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $4,793 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,738,949 |
| Total assets | $19,539,526 |
| Accounts payable and accrued expenses | $11,180 |
| 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 | $21,791,912 |
| Total liabilities | $21,803,092 |
| Net assets without donor restrictions | -$5,880,236 |
| Net assets with donor restrictions | $3,616,670 |
| 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 | $19,539,526 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Restored Homes Housing Development Fund Corporation has recieved totaling $288,150.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $146,250 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $71,000 |
The Center For New York City New York, NY PURPOSE: HOUSING & LEGAL COUNSELING | $70,900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jhl Corporate Services Inc New York, NY | $9,131,851 | $18,454,146 |
Madison Park Development Corporation Roxbury, MA | $51,356,053 | $9,046,088 |
Neighborhood Renewal Housing Development Fund Corporation New York, NY | $300,253,945 | $3,393,057 |
Jpc Affordable Housing Foundation Inc Newark, NJ | $16,189,985 | $7,541,928 |
Rth Mission Park Realty Corporation Boston, MA | $107,143,093 | $17,493,070 |
Presbyterian Seniorcare Foundation Oakmont, PA | $8,697,066 | $4,349,220 |
Jasa Housing Management Services For The Aged Inc New York, NY | $1,639,951 | $4,107,455 |
N Woodburn Nichols Foundation Inc Groveland, MA | $40,329,040 | $1,703,919 |
Fund For Public Housing Inc New York, NY | $1,013,121 | $2,190,535 |
Kendal New York Sleepy Hollow, NY | $0 | $1,764,852 |
Ehca Foundation Erie, PA | $9,325,618 | $619,289 |
89 South Care Support Inc Pittsfield, MA | $26,959,750 | $1,785,474 |