Kb25 Housing Development Fund Corporation
- Assets
- $15.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- 10/2014
- Data as of
- 12/2021
- EIN
- 47-0976556
Organization Overview
Kb25 Housing Development Fund Corporation is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Kb25 Housing Development Fund Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kb25 Housing Development Fund Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Kb25 Housing Development Fund Corporation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 58.5% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
KB25 HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO OWN AND OPERATE A RESIDENTIAL BUILDING FOR PERSONS OF LOW AND MODERATE INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KB25 HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO OWN AND OPERATE A 56 UNIT RESIDENTIAL BUILDING AT 325 E. 25TH STREET IN THE BOROUGH OF MANHATTAN FOR PERSONS OF LOW AND MODERATE INCOME.
GRANT TO PHIPPS HOUSES, AN AFFILIATE ORGANIZATION UNDER IRC 501(C)(4), TO BE USED ONLY FOR THE PURPOSE OF PROMOTING AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Weinstein President | OfficerTrustee | 1 | $791,174 |
James Robert Pigott Jr Secretary | OfficerTrustee | 1 | $330,476 |
Matthew Kelly Vice President | OfficerTrustee | 1 | $326,830 |
Brian Bricker Treasurer | OfficerTrustee | 1 | $302,845 |
Michael Wadman Vice President | Officer | 1 | $301,098 |
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 | $1,038,110 |
| Investment income | $16 |
| 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 | $1,060,355 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $335,000 |
| 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 | $82,044 |
| Pension plan accruals and contributions | $2,836 |
| Other employee benefits | $27,594 |
| Payroll taxes | $13,597 |
| Fees for services: Management | $82,041 |
| Fees for services: Legal | $476 |
| Fees for services: Accounting | $11,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,220 |
| Advertising and promotion | $0 |
| Office expenses | $29,344 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,710 |
| 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 | $468,710 |
| Insurance | $32,566 |
| All other expenses | $255,941 |
| Total functional expenses | $1,418,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,652 |
| Savings and temporary cash investments | $222,370 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,084 |
| 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 | $43,618 |
| Net Land, buildings, and equipment | $15,058,166 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,130 |
| Total assets | $15,497,020 |
| Accounts payable and accrued expenses | $92,005 |
| Grants payable | $0 |
| Deferred revenue | $17,422 |
| 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 | $109,427 |
| Net assets without donor restrictions | $15,387,593 |
| 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 | $15,497,020 |
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Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
The Arc Morris County Chapter Nj Inc Morris Plains, NJ | $23,360,035 | $22,219,596 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Alfa Development Inc Newfoundland, NJ | $12,469,438 | $16,200,874 |