Philadelphia Housing Development Corporation
- Assets
- $81.2m
- Revenue
- $247.1m
- Investments
- $0.0
- Employees
- 192
- Location
- Philadelphia, PA
- Founding
- 04/1967
- Data as of
- 06/2022
- EIN
- 23-1664406
Organization Overview
Philadelphia Housing Development Corporation is located in Philadelphia, PA. The organization was established in 1967. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Philadelphia Housing Development Corporation employed 192 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia Housing Development 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, Philadelphia Housing Development Corporation generated $247.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 39.7% each year . All expenses for the organization totaled $241.9m during the year ending 06/2022. While expenses have increased by 38.8% per year over the past 7 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
PROVIDE AFFORDABLE HOUSING AND FINANCIAL ASSISTANCE FOR HOME REPAIRS TARGETED TO LOW INCOME RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOME REPAIR ASSISTANCE TO LOW INCOME HOMEOWNERS. PROVIDE RENTAL ASSISTANCE FOR PEOPLE EFFECTED BY THE PANDEMIC
PROVIDE WEATHERIZATION REPAIRS/IMPROVEMENT ASSISTANCE TO LOW INCOME HOMEOWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Thomas Executive Vice President | Officer | 40 | $160,546 |
Joseph Ziccardi Carpenter Superintendent | 40 | $147,180 | |
Susan Varghese General Council | 40 | $141,875 | |
Angel Rodriguez Land Management Senior Vice President | 40 | $135,854 | |
Darren Williams Director Of Finance | Officer | 40 | $131,067 |
Stefano Cusano Legal Director | 40 | $118,593 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Virelli Roofing Contract D A Roofing Contractor | 6/29/22 | $1,494,867 |
Union Roofing Contractors Roofing Contractor | 6/29/22 | $1,298,935 |
Clark Roofing Co Inc Roofing Contractor | 6/29/22 | $1,362,095 |
Dms General Contracting Inc Roofing Contractor | 6/29/22 | $1,207,203 |
Adkins Management Inc Home Improvement | 6/29/22 | $1,137,834 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $243,828,421 |
| 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 | $243,828,421 |
| Total Program Service Revenue | $0 |
| Investment income | $86,021 |
| 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 | $247,066,079 |
| 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. | $332,818 |
| Compensation of current officers, directors, key employees. | $99,845 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,147,386 |
| Pension plan accruals and contributions | $183,669 |
| Other employee benefits | $9,591,512 |
| Payroll taxes | $967,076 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $234,043 |
| Fees for services: Accounting | $323,626 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $168,078,322 |
| Advertising and promotion | $11,948 |
| Office expenses | $6,808 |
| Information technology | $108,886 |
| Royalties | $0 |
| Occupancy | $1,143,631 |
| Travel | $2,016 |
| 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 | $1,868,343 |
| Insurance | $439,497 |
| All other expenses | $0 |
| Total functional expenses | $241,946,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,137,294 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $17,999,913 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $24,136,370 |
| Inventories for sale or use | $97,205 |
| Prepaid expenses and deferred charges | $901,033 |
| Net Land, buildings, and equipment | $13,904,322 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,026,151 |
| Total assets | $81,202,288 |
| Accounts payable and accrued expenses | $9,938,519 |
| Grants payable | $14,505 |
| Deferred revenue | $23,989,990 |
| 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 | $40,384,974 |
| Total liabilities | $74,327,988 |
| Net assets without donor restrictions | -$18,583,900 |
| Net assets with donor restrictions | $25,458,200 |
| 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 | $81,202,288 |