Sag Harbor Community Housing Trust Inc
- Assets
- $3.1m
- Revenue
- $162.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Sag Harbor, NY
- Founding
- 10/2009
- Data as of
- 12/2022
- EIN
- 26-2845161
Organization Overview
Sag Harbor Community Housing Trust Inc is located in Sag Harbor, NY. The organization was established in 2009. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sag Harbor Community Housing Trust 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, Sag Harbor Community Housing Trust Inc generated $162.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (26.2%) each year. All expenses for the organization totaled $141.0k during the year ending 12/2022. 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
THE TRUST IS ORGANIZED EXCLUSIVELY FOR THE CHARITABLE PURPOSE OF CREATING A CUMMUNITY HOUSING TRUST TO THEREFORE ACQUIRE LAND, OWN, CONSTRUCT, REHABILITATE, LEASE, MANAGE, MAINTAIN, DEVELOP, AND OPERATE AFFORDABLE WORKFORCE HOUSING, TO PROVIDE HOWNOWNERS OR PROSPECTIVE PURCHASERS OF HOMES OR PROSPECTIVE TENANTS AND/OR LANDLORDS WITH FINANCIAL ASSISTANCE AND GUIDANCE REGARDING THE PURCHASE, FINANCING, MAINTENANCE, CONSTRUCTION OR RENT THEIR HOMES; TO PROMOTE THE DEVELOPMENT, CONSTRUCTION OR RENTAL, REHABILITATION, MANAGEMENT, MAINTENANCE, AND OPERATION OF AFFORDABLE, QUALITY WORKFORCE HOUSING THAT MEET THE NEEDS OF THE SAG HARBOR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACQUIRE, OWN, LEASE, PLEDGE, MORTGAGE, AND TRANSFER REAL PROPERTY AND TO OWN, CONSTRUCT, REHABILITATE, LEASE, MANAGE, MAINTAIN, DEVELOP, AND OPERATE AFFORDABLE WORKFORCE HOUSING.
TO BORROW FUNDS FROM GOVERNMENT AGENCIES OR PRIVATE LENDERS AND TO SECURE SUCH LOANS WITH PROPERTY OF THE CORPORATION.
TO ADVISE AND ASSIST QUALIFIED HOMEBUYERS, TENANTS, OR PURCHASERS OF HOMES AND TO PROVIDE PURCHASERS WITH FINANCIAL ASSISTANCE FOR THE ACQUISTION OR CREATION OF AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gloria Primm Brown Director | Trustee | 2 | $0 |
Gregory N Ferraris CPA President/tr | Officer | 2 | $0 |
Ed Reale Vp/secretary | Officer | 2 | $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 | $160,556 |
| Investment income | $1,530 |
| 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 | $162,086 |
| 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 | $24,120 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,506 |
| Fees for services: Management | $11,220 |
| Fees for services: Legal | $6,500 |
| Fees for services: Accounting | $2,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $538 |
| Advertising and promotion | $0 |
| Office expenses | $3,362 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,939 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,413 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,985 |
| Insurance | $18,908 |
| All other expenses | $605 |
| Total functional expenses | $141,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $378,797 |
| Savings and temporary cash investments | $1,036,877 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,510 |
| 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 | $7,196 |
| Net Land, buildings, and equipment | $1,289,508 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $358,141 |
| Other assets | $0 |
| Total assets | $3,094,029 |
| Accounts payable and accrued expenses | $2,979 |
| 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 | $698,896 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,114 |
| Total liabilities | $716,989 |
| Net assets without donor restrictions | $965,482 |
| Net assets with donor restrictions | $1,411,558 |
| 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 | $3,094,029 |