Providence Community Housing
- Assets
- $17.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 12
- Location
- New Orleans, LA
- Founding
- 03/2007
- Data as of
- 12/2023
- EIN
- 20-4627275
Organization Overview
Providence Community Housing is located in New Orleans, LA. The organization was established in 2007. 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. As of 12/2023, Providence Community Housing employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Community Housing 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 12/2023, Providence Community Housing generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. 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
THE CORPORATIONS MISSION IS TO TRANSFORM LIVES AND COMMUNITIES THROUGH THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOMES WHILE CONNECTING INDIVIDUALS AND FAMILIES TO OPPORTUNITIES THAT ENHANCE THEIR QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENT - THIS PROGRAM INCLUDES ALL COSTS, EXCLUDING CAPITAL EXPENSES, ASSOCIATED WITH ACQUIRING, DEVELOPING AND PRESERVING AFFORDABLE REAL ESTATE FOR INDIVIDUALS, SENIORS, AND FAMILIES, INCLUDING BOTH RENTAL UNITS AND HOMES FOR SALE. THERE ARE APPROXIMATELY 815 UNITS IN THE CONCEPT/PRE-DEVELOPMENT PLANNING STAGE, NONE ARE CURRENTLY UNDER CONSTRUCTION, AND NONE ARE IN STABILIZATION/LEASE-UP.
ASSET MANAGEMENT - THIS PROGRAM CONSISTS OF EXPENSES RELATED TO OVERSEEING THE MANAGEMENT OF OPERATING RENTAL PROPERTIES INCLUDING INDIVIDUAL, MULTI-FAMILY AND SENIOR HOUSING AS BOTH A DIRECT OWNER AND GENERAL PARTNER. THERE ARE 1,239 UNITS CURRENTLY IN SERVICE.
COMMUNITY SERVICES - THIS PROGRAM ENCOMPASSES ACTIVITIES FOCUSED ON IMPROVING QUALITY OF LIFE THROUGH RESIDENT SERVICE COORDINATION AND PROGRAMMING. THIS PROGRAM INCLUDES ALL OPERATIONS AND PROGRAMMING PROVIDED TO THE FAUBOURG LAFITTE COMMUNITY THROUGH SOJOURNER TRUTH NEIGHBORHOOD CENTER. IT ALSO INCLUDES THE COST OF STAFFING A COORDINATOR TO BRING IN PARTNERS AND RESOURCES TO SERVE OUR SENIOR POPULATION AND PREVENT EVICTIONS. PROVIDENCE AND ITS PARTNERS (CHRISTOPHER HOMES AND ENTERPRISE COMMUNITY PARTNERS) CONTRACT WITH AND PROVIDE SUPPORT FOR THIRD-PARTY PROVIDERS. SERVICES INCLUDE MEAL DELIVERIES, COMMODITY DISTRIBUTIONS, ASSISTANCE WITH ACCESSING UTILITY, FOOD, AND RENTAL ASSISTANCE FROM PUBLIC AND PRIVATE RESOURCES, HEALTH FAIRS, AND YOUTH PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri North President & CEO | Officer | 40 | $177,953 |
Lisa Sammons Treasurer/cfo | Officer | 40 | $125,281 |
Ryan Herringshaw Secretary | Officer | 40 | $127,595 |
Brian Lawlor Director | Trustee | 1 | $0 |
Trevor Mosby Director | Trustee | 1 | $0 |
Robert Munch Vice Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gibbs Construction Construction | 12/30/23 | $100,000 |
Trapolin-peer Achitects Apc Architecture | 12/30/23 | $679,855 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,790 |
| All other contributions, gifts, grants, and similar amounts not included above | $478,214 |
| Noncash contributions included in lines 1a–1f | $189,499 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $687,004 |
| Total Program Service Revenue | $1,230,085 |
| Investment income | $13,715 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $532,642 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,463,446 |
| 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. | $430,829 |
| Compensation of current officers, directors, key employees. | $96,385 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $479,574 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $84,039 |
| Payroll taxes | $69,358 |
| Fees for services: Management | $16,202 |
| Fees for services: Legal | $20,259 |
| Fees for services: Accounting | $44,956 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $121,269 |
| Advertising and promotion | $5,425 |
| Office expenses | $34,529 |
| Information technology | $25,975 |
| Royalties | $0 |
| Occupancy | $71,685 |
| Travel | $9,255 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,988 |
| Interest | $35,927 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $131,529 |
| Insurance | $101,830 |
| All other expenses | $48,124 |
| Total functional expenses | $2,673,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,171,499 |
| Savings and temporary cash investments | $316,131 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,804 |
| 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 | $58,175 |
| Net Land, buildings, and equipment | $3,706,926 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,890,896 |
| Intangible assets | $0 |
| Other assets | $1,217,002 |
| Total assets | $17,372,433 |
| Accounts payable and accrued expenses | $89,752 |
| Grants payable | $0 |
| Deferred revenue | $3,698 |
| 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 | $299,606 |
| Unsecured mortgages and notes payable | $750,000 |
| Other liabilities | $4,276,486 |
| Total liabilities | $5,419,542 |
| Net assets without donor restrictions | $10,705,510 |
| Net assets with donor restrictions | $1,247,381 |
| 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 | $17,372,433 |
Grants Awarded
Over the last fiscal year, Providence Community Housing has awarded $173,390 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
KINGSLEY HOUSE INC PURPOSE: EMERGENCY ASSIST. LAFITTE RESIDENTS | $25,000 |
PRESERVATION RESOURCE CENTER PURPOSE: HOMEBUYER SOFT 2ND ASSISTANCE | $61,695 |
KINGSLEY HOUSE INC PURPOSE: EMERGENCY ASSIST. LAFITTE RESIDENTS | $25,000 |
PRESERVATION RESOURCE CENTER PURPOSE: HOMEBUYER SOFT 2ND ASSISTANCE | $61,695 |