Housing Opportunities Corporation
- Assets
- $1.6m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 02/1996
- Data as of
- 06/2022
- EIN
- 22-2487344
Organization Overview
Housing Opportunities Corporation is located in Providence, RI. The organization was established in 1996. According to its NTEE Classification (L02) the organization is classified as: Management & Technical Assistance, 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. Housing Opportunities 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 06/2022, Housing Opportunities Corporation generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $3.3m during the year ending 06/2022. While expenses have increased by 5.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
MANAGEMENT SERVICES PROVIDED TO BENEFIT LOW INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MANAGEMENT SERVICES TO LOW AND MODERATE INCOME HOUSING PROJECTS WHICH ARE SPONSORED BY WOMENS DEVELOPMENT CORPORATION AND WOMENS OPPORTUNITY REALTY CORPORATION, 501(C)(3) AFFILIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Sabbagh Treasurer | OfficerTrustee | 1 | $0 |
Julia Bush Chair | OfficerTrustee | 1 | $0 |
Kris Bradner Director | Trustee | 0.5 | $0 |
Barbara Colt Director | Trustee | 0.5 | $0 |
Noel Sanchez Director | Trustee | 0.5 | $0 |
Stephanie Zurek Secretary | OfficerTrustee | 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 | $2,976,264 |
| Investment income | $289 |
| 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 | $2,976,674 |
| 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 | $2,042,749 |
| Pension plan accruals and contributions | $84,715 |
| Other employee benefits | $366,810 |
| Payroll taxes | $171,619 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $450,000 |
| Advertising and promotion | $1,988 |
| Office expenses | $114,439 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,713 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,598 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,957 |
| Insurance | $12,389 |
| All other expenses | $0 |
| Total functional expenses | $3,288,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $908,079 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $672,893 |
| 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 | $2,173 |
| Net Land, buildings, and equipment | $48,025 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600 |
| Total assets | $1,631,770 |
| Accounts payable and accrued expenses | $222,652 |
| 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 | $0 |
| Total liabilities | $222,652 |
| Net assets without donor restrictions | $1,409,118 |
| 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 | $1,631,770 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bethany Community Services Inc Haverhill, MA | $58,322,379 | $6,540,129 |
Housing Opportunities Corporation Providence, RI | $1,631,770 | $2,976,674 |
Marbury Terrace Inc Jamaica Plain, MA | $26,492,551 | $978,386 |
Lynn Housing Authority Development Group Inc Lynn, MA | $450,499 | $1,056,756 |
Newday Management Corporation Hartford, CT | $26,931 | $0 |
Space Foundation Inc Brighton, MA | $17,515 | $0 |
Marchant Mill House Inc Hyannis Port, MA | $1,786,500 | $49,950 |
Washington Beech Revitalization Corporation Boston, MA | $8,439,352 | $446,234 |
Aerial Center Land Corp Ii Boston, MA | $2,947,007 | $0 |