Provident Housing Resources Inc
- Assets
- $4.5m
- Revenue
- -$73.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Huntington Beach, CA
- Founding
- 03/2001
- Data as of
- 12/2022
- EIN
- 31-1707833
Organization Overview
Provident Housing Resources Inc is located in Huntington Beach, CA. The organization was established in 2001. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Provident Housing Resources Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDENT AFFORDABLE HOUSING RESOURCES, INC. SERVES THE POOR AND DISTRESSED, WORKS TO ELIMINATE DISCRIMINATION AND PREJUDICE, AND LESSENS NEIGHBORHOOD TENSIONS BY PROVIDING SAFE, DECENT AND AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION OWNED THREE PROPERTIES WITH APPROXIMATELY 604 UNITS. APPROXIMATELY 75% OF THESE UNITS ARE AVAILABLE FOR RESIDENTS WHO QUALIFY AS VERY LOW AND LOW INCOME FAMILIES. THE CORPORATION DEVELOPED AND IMPLEMENTED SERVICE-ENRICHED HOUSING PROGRAMS, INCLUDING HEALTH, SOCIAL AND EDUCATION PROGRAMS TO IMPROVE THE QUALITY OF LIFE AND POTENTIAL FOR PERSONAL GROWTH OF ITS RESIDENTS. COMPUTER TRAINING, ADULT BASIC EDUCATION, SUPPORT GROUPS, FOOD AND NUTRITION CLASSES AND JOB READINESS TRAINING ARE EXAMPLES OF PROGRAMS THAT WERE OFFERED TO THE RESIDENTS OF THE FACILITIES IN 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip J Kennedy President And CEO | OfficerTrustee | 2 | $277,000 |
Kathryn T Walker Treasurer And CFO | OfficerTrustee | 8 | $150,000 |
William W Hirsch Director | Trustee | 1 | $4,000 |
Vasilios Salamandrakis Director | Trustee | 1 | $4,000 |
William J Todd Director | Trustee | 1 | $4,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lbk Management Services Inc Management Services | 12/30/19 | $302,655 |
Bk Multifamily Services Llc Management Services | 12/30/19 | $182,052 |
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 | $0 |
| Investment income | $75,209 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$155,031 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$73,409 |
| 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. | $156,000 |
| Compensation of current officers, directors, key employees. | $156,000 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,054 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $210,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $956,072 |
| Savings and temporary cash investments | $114,788 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $69,500 |
| 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 | $0 |
| Investments—publicly traded securities | $3,405,728 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,546,088 |
| Accounts payable and accrued expenses | $107,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $107,000 |
| Net assets without donor restrictions | $4,439,088 |
| 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 | $4,546,088 |