Broadway Housing Communities Foundation Inc
- Assets
- $17.2m
- Revenue
- $424.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/2012
- Data as of
- 12/2023
- EIN
- 46-0730038
Organization Overview
Broadway Housing Communities Foundation Inc is located in New York, NY. The organization was established in 2012. According to its NTEE Classification (L11) the organization is classified as: Single Organization 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. Broadway Housing Communities Foundation 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 12/2023, Broadway Housing Communities Foundation Inc generated $424.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 12.2% 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
OUR PRIMARY EXEMPT MISSION IS TO HOLD ASSETS FOR THE BENEFIT OF BROADWAY HOUSING COMMUNITIES, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PRIMARY PROGRAM SERVICE ACTIVITY IS TO HOLD INVESTMENT ASSETS FOR THE BENEFIT OF BROADWAY HOUSING COMMUNITIES, INC. ("BHC"). IN 2023, THE FOUNDATION GIFTED ITS INVESTMENT HOLDINGS GAINS BACK TO BHC TO SUPPORT ITS TAX-EXEMPT MISSION OF PROVIDING HOUSING TO THOUSANDS OF ADULTS, CHILDREN AND FAMILIES IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
FR John M Felice Director/emeritus (non-Voting) | Trustee | 2 | $0 |
Michael Sullivan President | OfficerTrustee | 2 | $0 |
Barbara Tarmy Vice President/secretary | OfficerTrustee | 2 | $0 |
Shao-Peng Moy Treasurer | OfficerTrustee | 2 | $0 |
Alan Weil Board Chair | OfficerTrustee | 2 | $0 |
David Nathanson Chief Financial Officer | Officer | 1 | $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 | $750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $750 |
| Total Program Service Revenue | $0 |
| Investment income | $424,104 |
| 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 | $424,854 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,290,790 |
| 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 | $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 | $86,388 |
| Fees for services: Other | $429 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,377,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,870 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $17,173,506 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,185,376 |
| Accounts payable and accrued expenses | $391 |
| 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 | $391 |
| Net assets without donor restrictions | $263,262 |
| Net assets with donor restrictions | $16,921,723 |
| 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 | $17,185,376 |
Grants Awarded
Over the last fiscal year, Broadway Housing Communities Foundation Inc has awarded $1,527,925 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SUGAR HILL CHILDREN'S MUSEUM OF ART & STORYTELLING PURPOSE: TO SUPPORT AND BENEFIT SUGAR HILL CHILDREN'S MUSUEM OF ART & STORYTELLING ("SHCMAS") IN FURTHERANCE OF ITS PURPOSES BY PROVIDING GRANTS OF FUNDS TO SHCMAS FOR ITS PROGRAMS AND PURPOSES. | $250,000 |
BROADWAY HOUSING COMMUNITIES INC PURPOSE: TO SUPPORT AND BENEFIT BROADWAY HOUSING COMMUNITIES ("BHC") IN FURTHERANCE OF ITS PURPOSES BY PROVIDING GRANTS OF FUNDS TO BHC FOR ITS PROGRAMS AND PURPOSES. | $1,277,925 |