Federation Housing Inc
- Assets
- $32.1m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 78
- Location
- Philadelphia, PA
- Founding
- 08/2019
- Data as of
- 08/2023
- EIN
- 23-2122054
Organization Overview
Federation Housing Inc is located in Philadelphia, PA. The organization was established in 2019. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 08/2023, Federation Housing Inc employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Federation 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 08/2023, Federation Housing Inc generated $5.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $2.6m during the year ending 08/2023. 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
MANAGEMENT AND DEVELOPMENT OF FEDERALLY SUBSIDIZED HOUSING PROJECTS FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT AND DEVELOPMENT PROGRAM - THE ORGANIZATION MANAGES AND DEVELOPS AFFORDABLE RENTAL HOUSING COMPLEXES FOR THE ELDERLY IN AND AROUND PHILADELPHIA, PENNSYLVANIA. THERE ARE 11 RENTAL HOUSING COMPLEXES BEING MANAGED FOR THE FISCAL YEAR, SERVING 1694 RESIDENTS IN 1315 APARTMENTS.
MEAL PROGRAM- THIS PROGRAM WAS STARTED IN MAY 2009 AND IS SUBSIDIZED BY THE JEWISH FEDERATION. RESIDENTS PAY $1 FOR A BOXED LUNCH UP TO THREE TIMES PER WEEK IN EACH OF THE BUILDINGS. THERE WERE APPROXIMATELY 21,107 MEALS SERVED DURING THE FISCAL YEAR.
TRANSPORTATION PROGRAM- 2 MINI-VANS AND A 14 PASSENGER MINI BUS WERE AVAILABLE TO TRANSPORT PASSENGERS AT NO CHARGE TO DOCTOR'S APPOINTMENTS, FOOD SHOPPING, MALLS AND OTHER OUTINGS BY APPOINTMENT. THESE SERVICES WERE OUTSOURCED IN NOVEMBER 2017 AND THE VEHICLES WERE SOLD, BUT THE RESIDENTS CONTINUE TO RECEIVE TRANSPORTATION SERVICES AT NO CHARGE. THE PROGRAM WAS TEMPORARILY SUSPENDED FROM MARCH 2020 UNTIL JULY 2021 DUE TO COVID-19. THERE WERE 1789 TOTAL RESIDENT RIDES FOR THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Davidson ESQ Treasurer | OfficerTrustee | 5 | $0 |
Jay Weinstein President | OfficerTrustee | 10 | $0 |
Mitchell Goldenberg Vice President | Trustee | 5 | $0 |
Karen Cohen Secretary | OfficerTrustee | 1 | $0 |
Gary Rubin Vice President | OfficerTrustee | 1 | $0 |
Roslyn Pollack Director | Trustee | 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 | $2,983,459 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,983,459 |
| Total Program Service Revenue | $2,371,195 |
| Investment income | $436,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,062 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,789,633 |
| 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. | $287,556 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $831,960 |
| Pension plan accruals and contributions | $33,052 |
| Other employee benefits | $88,775 |
| Payroll taxes | $82,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,834 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $55,196 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,753 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,852 |
| Insurance | $11,347 |
| All other expenses | $319,376 |
| Total functional expenses | $2,647,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,500 |
| Savings and temporary cash investments | $1,700,873 |
| Pledges and grants receivable | $1,921,302 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,286,695 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,148 |
| Net Land, buildings, and equipment | $588,159 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,095,854 |
| Intangible assets | $0 |
| Other assets | $7,444,607 |
| Total assets | $32,064,138 |
| Accounts payable and accrued expenses | $265,211 |
| 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 | $196,391 |
| Total liabilities | $461,602 |
| Net assets without donor restrictions | $28,723,901 |
| Net assets with donor restrictions | $2,878,635 |
| 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 | $32,064,138 |