Db Housing Inc
- Assets
- $1.7m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Dorchester, MA
- Founding
- 11/1990
- Data as of
- 12/2021
- EIN
- 22-3042334
Organization Overview
Db Housing Inc is located in Dorchester, MA. The organization was established in 1990. 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. Db Housing Inc 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, Db Housing Inc generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.0% each year . All expenses for the organization totaled $4.4m during the year ending 12/2021. 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
LOW-INCOME HOUSING DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROJECT DEVELOPMENT ACQUIRES, CONSTRUCTS AND REDEVELOPS REAL ESTATE IN OUR SERVICE AREA WITH THE GOAL OF REDUCING BLIGHT, IMPROVING THE NEIGHBORHOOD, CREATING AND PRESERVING AFFORDABLE HOUSING, AS WELL AS COMMERCIAL SPACE THAT PROVIDES JOBS, SERVICES AND PLACES FOR BUSINESSES TO GROW AND THRIVE. IN 2019, WE CLOSED ON AND BEGAN CONSTRUCTIONON A 90-UNIT RESIDENTIAL PROJECT (INDIGO BLOCK APARTMENTS) AND A $12,000,000 COMMERCIAL PROJECT. CONSTRUCTION BEGAN IN 2020 AND IS EXPECTED TO BE COMPLETED IN 2021 AND 2022. ADVANCEMENTS WERE ALSO MADE ON VARIOUS OTHER PROJECTS THROUGH THE PUBLIC APPROVAL PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Greenaway President | OfficerTrustee | 0.63 | $0 |
Maria Andrade Clerk | OfficerTrustee | 0.63 | $0 |
Paul Black Vice President | OfficerTrustee | 0.63 | $0 |
Leighton Richardson Treasurer | OfficerTrustee | 0.63 | $0 |
Perry Newman Chief Executive Officer | Officer | 9.35 | $0 |
Charles Mcvea Director Of Finance & Admin | Officer | 9.35 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $251,896 |
| 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 | $251,896 |
| Total Program Service Revenue | $3,923,245 |
| Investment income | $559 |
| 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 | $4,180,799 |
| 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 | $617,073 |
| Fees for services: Legal | $2,157 |
| Fees for services: Accounting | $8,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,678 |
| Advertising and promotion | $0 |
| Office expenses | $1,044 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,549 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,814 |
| Payments to affiliates | $3,375,218 |
| Depreciation, depletion, and amortization | $29,318 |
| Insurance | $22,997 |
| All other expenses | $0 |
| Total functional expenses | $4,398,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $292,851 |
| Savings and temporary cash investments | $43,599 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,489 |
| 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 | $3,109 |
| Net Land, buildings, and equipment | $1,077,903 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $230,318 |
| Intangible assets | $0 |
| Other assets | $29,869 |
| Total assets | $1,680,138 |
| Accounts payable and accrued expenses | $19,563 |
| 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 | $1,077,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,097,063 |
| Net assets without donor restrictions | $583,075 |
| 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 | $1,680,138 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Grand Central District Management Association Inc New York, NY | $3,484,616 | $12,729,561 |
Westbeth Corp Housing Development Fund Company Inc New York, NY | $62,389,155 | $10,191,211 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Brighton Beach Housing Development Fund Company Inc New York, NY | $22,060,771 | $3,270,016 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |