Somaltow Housing Company Inc

Organization Overview

Somaltow Housing Company Inc is located in Albany, NY. The organization was established in 1971. 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. As of 12/2021, Somaltow Housing Company Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somaltow Housing 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 12/2021, Somaltow Housing Company Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $3.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE HOUSING AND AUXILIARY FACILITIES FOR AGED PERSONS OF LOW INCOME, AND TO THIS END TO PLAN, ACQUIRE, CONSTRUCT, OWN, MAINTAIN AND OPERATE SUCH HOUSING AND AUXILIARY FACILITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Kimberly Hansen Woods
Executive Di
$100,409
John Saburro
Treasurer
$0
Peter Mckee
Vice Preside
$0
Gary Hallock
President
$0
Eric Sprague
Secretary
$0
Tyler Fronte
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Bishop Beaudry Construction Llc
Construction
$1,008,746
Gordon Beach
Flooring Cont.
$107,939
View All Vendors

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$2,700,410
Investment income $41,106
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,352
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,742,868

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