Project H O M E Community Development Corporation
- Assets
- $4.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 08/1997
- Data as of
- 12/2021
- EIN
- 23-2895377
Organization Overview
Project H O M E Community Development Corporation is located in Philadelphia, PA. The organization was established in 1997. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project H O M E Community 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 12/2021, Project H O M E Community Development Corporation generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $1.8m 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
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME INDIVIDUALS AND FAMILIES IN PHILADELPHIA, PA. THE CORPORATION ACQUIRES, REHABILITATES AND SELLS PROPERTIES TO QUALIFYING INDIVIDUALS AND OPERATES 112 AFFORDABLE HOUSING UNITS AND COMMERCIAL SPACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF AFFORDABLE HOUSING UNITS RENTED TO LOW-INCOME INDIVIDUALS AND COMMERCIAL SPACE TO NON-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Dawson Mcconnon Treasurer | OfficerTrustee | 2 | $0 |
S Mary Scullion President | OfficerTrustee | 2 | $0 |
Jim Paterno Secretary | OfficerTrustee | 0 | $0 |
Mike Breen Director | Trustee | 0 | $0 |
Property Manager Director | Trustee | 40 | $0 |
Dan Hirst Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $572,439 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,223 |
| Noncash contributions included in lines 1a–1f | $41,223 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $613,662 |
| Total Program Service Revenue | $454,751 |
| Investment income | $551 |
| 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 | $1,082,662 |
| 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 | $78,313 |
| Fees for services: Legal | $6,999 |
| Fees for services: Accounting | $9,031 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $110,291 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $443,143 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $436,739 |
| Insurance | $36,127 |
| All other expenses | $1,406 |
| Total functional expenses | $1,821,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,248 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,376 |
| 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 | $21,170 |
| Net Land, buildings, and equipment | $4,083,255 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $439,910 |
| Total assets | $4,812,959 |
| Accounts payable and accrued expenses | $78,191 |
| Grants payable | $0 |
| Deferred revenue | $47,207 |
| 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 | $3,192,856 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,998,144 |
| Total liabilities | $9,316,398 |
| Net assets without donor restrictions | -$4,503,439 |
| 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 | $4,812,959 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Project H O M E Community Development Corporation has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
Hagan Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Circle Incorporated Cleveland, OH | $134,622,719 | $18,118,457 |
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Economic And Community Development Institute Inc Columbus, OH | $78,355,876 | $19,971,101 |
Pennreach Allentown, NJ | $5,187,786 | $15,924,501 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Garrett County Maryland Community Action Committee Inc Oakland, MD | $23,823,939 | $14,024,119 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Strong City Baltimore Baltimore, MD | $3,607,626 | $14,803,870 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |