Kennedy Towers Housing Development Fund Company Inc
- Assets
- $12.8m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Troy, NY
- Founding
- Data as of
- 12/2022
- EIN
- 22-3894037
Organization Overview
Kennedy Towers Housing Development Fund Company Inc is located in Troy, NY. Kennedy Towers Housing Development Fund Company 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 12/2022, Kennedy Towers Housing Development Fund Company Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 3.0% per year over the past 2 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
TO PROVIDE HOUSING AND SERVICES TO QUALIFIED INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRING, REHABILITATING AND OPERATING A RENTAL HOUSING PROJECT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Steele Chair | OfficerTrustee | 1 | $0 |
Steven Sanders Vice Chair | OfficerTrustee | 1 | $0 |
Justin T Relf Commissioner | OfficerTrustee | 1 | $0 |
Debora Jackson Commissioner | OfficerTrustee | 1 | $0 |
Elizabeth Rodriguez Commissioner | OfficerTrustee | 1 | $0 |
Walter Howard Commissioner | 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 | $1,802,189 |
| Investment income | $1,701 |
| 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 | $1,823,757 |
| 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 | $378,807 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $72,581 |
| Fees for services: Management | $91,188 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,620 |
| Advertising and promotion | $0 |
| Office expenses | $1,617 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $472,924 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $272,982 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $509,370 |
| Insurance | $153,543 |
| All other expenses | $0 |
| Total functional expenses | $2,319,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,657,890 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $791 |
| 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 | $11,110 |
| Net Land, buildings, and equipment | $11,112,708 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $42,124 |
| Other assets | $0 |
| Total assets | $12,824,623 |
| Accounts payable and accrued expenses | $347,567 |
| Grants payable | $0 |
| Deferred revenue | $6,014 |
| 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 | $10,067,459 |
| Other liabilities | $45,064 |
| Total liabilities | $10,466,104 |
| Net assets without donor restrictions | $2,358,519 |
| 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 | $12,824,623 |