Village Housing Development Corp
- Assets
- $9.0m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 38
- Location
- New York, NY
- Founding
- 02/1999
- Data as of
- 12/2023
- EIN
- 31-1619096
Organization Overview
Village Housing Development Corp is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Village Housing Development Corp employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Village Housing Development Corp 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 12/2023, Village Housing Development Corp generated $5.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $5.8m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
VILLAGE HOUSING DEVELOPMENT FUND CORPORATION (VHDFC) OPERATES A MEDICAID ASSISTED LIVING, INDEPENDENT LIVING, AND ENRICHED HOUSING PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VHDFC OPERATES A MEDICAID ASSISTED LIVING, INDEPENDENT LIVING, AND ENRICHED HOUSING PROGRAM. SERVICES INCLUDE ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, MEDICATION ASSISTANCE, HOUSEKEEPING, A DYNAMIC ACTIVITIES PROGRAM, AND RESTAURANT-STYLE MEALS. IN 2023, VHDFC PROVIDED HOUSING, FOOD, AND CARE FOR OVER 30,655 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President And CEO | OfficerTrustee | 2.8 | $0 |
Name Not Listed Chair | OfficerTrustee | 0.1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 0.1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 0.1 | $0 |
Name Not Listed Director | Trustee | 0.1 | $0 |
Name Not Listed Director (through 5/23) | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Execusearch Group Inc Temp Agency | 12/30/20 | $121,144 |
Us Food Service Food Service | 12/30/20 | $124,014 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,449,032 |
| Government grants | $95,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,231 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,546,113 |
| Total Program Service Revenue | $4,287,393 |
| Investment income | $25,652 |
| 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 | $5,859,158 |
| 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. | $363,382 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,723,492 |
| Pension plan accruals and contributions | $48,727 |
| Other employee benefits | $191,146 |
| Payroll taxes | $122,351 |
| Fees for services: Management | $80,000 |
| Fees for services: Legal | $82,641 |
| Fees for services: Accounting | $5,076 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,248,738 |
| Advertising and promotion | $0 |
| Office expenses | $387,556 |
| Information technology | $21,968 |
| Royalties | $0 |
| Occupancy | $481,524 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,078 |
| Interest | $376,130 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $667,403 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,833,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,032 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $163,132 |
| Accounts receivable, net | $248,582 |
| 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 | $5,795 |
| Net Land, buildings, and equipment | $7,639,539 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $854,795 |
| Total assets | $8,959,875 |
| Accounts payable and accrued expenses | $532,508 |
| Grants payable | $0 |
| Deferred revenue | $23,020 |
| Tax-exempt bond liabilities | $5,917,014 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,558,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,030,542 |
| Net assets without donor restrictions | -$2,070,667 |
| 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 | $8,959,875 |