Village Housing Development Corp
- Assets
- $14.0m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 52
- Location
- New York, NY
- Founding
- 02/1999
- Data as of
- 12/2021
- 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 12/2021, Village Housing Development Corp employed 52 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 12/2021, Village Housing Development Corp generated $5.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $5.9m during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 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
2021
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 2021, VHDFC PROVIDED HOUSING, FOOD, AND CARE FOR OVER 30,150 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy D Freeland SVP Of Program Operations | Officer | 17.5 | $212,819 |
Remal Valentine-Miles Alp Nurse Manager | 35 | $127,596 | |
Darryl Hall Program Services Coordinator | 35 | $100,665 | |
Emma Devito President And CEO | OfficerTrustee | 2.8 | $0 |
John W Behre Chair | OfficerTrustee | 0.08 | $0 |
Mary Caracappa Treasurer | OfficerTrustee | 0.08 | $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 | $1,400,539 |
| Government grants | $515,999 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,308 |
| Noncash contributions included in lines 1a–1f | $14,834 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,967,846 |
| Total Program Service Revenue | $3,880,212 |
| Investment income | $3,139 |
| 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 | $5,851,197 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,139 |
| 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. | $243,216 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,644,759 |
| Pension plan accruals and contributions | $65,226 |
| Other employee benefits | $234,429 |
| Payroll taxes | $118,687 |
| Fees for services: Management | $80,000 |
| Fees for services: Legal | $38,809 |
| Fees for services: Accounting | $11,440 |
| Fees for services: Lobbying | $388 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,553,841 |
| Advertising and promotion | $8,845 |
| Office expenses | $215,887 |
| Information technology | $17,676 |
| Royalties | $0 |
| Occupancy | $763,022 |
| Travel | $21,027 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,291 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $642,634 |
| Insurance | $119,973 |
| All other expenses | $0 |
| Total functional expenses | $5,851,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,546 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,783,223 |
| Accounts receivable, net | $244,877 |
| 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 | $0 |
| Net Land, buildings, and equipment | $8,875,063 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,112,392 |
| Total assets | $14,049,101 |
| Accounts payable and accrued expenses | $858,675 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $6,523,938 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,602,800 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,160,008 |
| Total liabilities | $16,145,421 |
| Net assets without donor restrictions | -$2,141,844 |
| Net assets with donor restrictions | $45,524 |
| 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 | $14,049,101 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Village Housing Development Corp has recieved totaling $9,000.
| Awarding Organization | Amount |
|---|---|
Foundation For Long Term Care Inc Latham, NY PURPOSE: PANDEMIC RELIEF FOR LONG TERM CARE | $9,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Affordable Housing Alliance Inc Neptune, NJ | $23,008,220 | $15,041,931 |
New Community Corporation Newark, NJ | $92,222,632 | $16,838,314 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |