Housing Initiative Partnership Inc
- Assets
- $6.5m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 34
- Location
- Hyattsville, MD
- Founding
- 07/1989
- Data as of
- 06/2023
- EIN
- 52-1596171
Organization Overview
Housing Initiative Partnership Inc is located in Hyattsville, MD. The organization was established in 1989. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Housing Initiative Partnership Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Initiative Partnership 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 06/2023, Housing Initiative Partnership Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $3.8m during the year ending 06/2023. While expenses have increased by 7.4% 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.
Since 2017, Housing Initiative Partnership Inc has awarded 19 individual grants totaling $831,484. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING INITIATIVE PARTNERSHIP, INC. (HIP) DEVELOPS INNOVATIVE AFFORDABLE HOUSING, REVITALIZES NEIGHBORHOODS AND EQUIPS PEOPLE TO ACHIEVE THEIR HOUSING AND FINANCIAL GOALS.HIP'S VISION IS THAT EVERY PERSON LIVES IN HIGH-QUALITY AFFORDABLE HOUSING IN A THRIVING COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING COUNSELING - SEE SCHEDULE O
OTHER PROGRAM SERVICES - SEE SCHEDULE O
RESIDENT SERVICES - SEE SCHEDULE O
HOMEOWNER REHABILITATION - SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maryann Dillon Executive Director | Officer | 37.5 | $165,601 |
Stephanie Prange Proestel Deputy Exec. Director | Officer | 37.5 | $132,445 |
Mary Hunter Director Of Housing Counseling Program | 37.5 | $112,348 | |
Samuel Parker Chair | OfficerTrustee | 3 | $0 |
Angela Hill Vice Chair | OfficerTrustee | 2 | $0 |
Julio Murillo Khadjibhaeva Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Landsdowne Development Corp Construction | 6/29/23 | $214,591 |
Greater Heights Remodeler Inc Construction | 6/29/23 | $538,620 |
Jd Clark Professional Services Llc Construction | 6/29/23 | $106,306 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $838 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,869,403 |
| All other contributions, gifts, grants, and similar amounts not included above | $594,589 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,464,830 |
| Total Program Service Revenue | $17,703 |
| Investment income | $14,839 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$672,599 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,825,620 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $152,766 |
| 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. | $313,524 |
| Compensation of current officers, directors, key employees. | $21,344 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,758,011 |
| Pension plan accruals and contributions | $31,143 |
| Other employee benefits | $172,125 |
| Payroll taxes | $158,808 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,876 |
| Fees for services: Accounting | $116,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,373 |
| Fees for services: Other | $18,754 |
| Advertising and promotion | $33,416 |
| Office expenses | $103,050 |
| Information technology | $49,408 |
| Royalties | $0 |
| Occupancy | $93,159 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $59,394 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,045 |
| Insurance | $44,107 |
| All other expenses | $14,354 |
| Total functional expenses | $3,756,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418,986 |
| Savings and temporary cash investments | $4,946 |
| Pledges and grants receivable | $1,434,276 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,150,280 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,638 |
| Net Land, buildings, and equipment | $17,221 |
| Investments—publicly traded securities | $459,897 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,968,924 |
| Total assets | $6,483,168 |
| Accounts payable and accrued expenses | $404,303 |
| 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 | $1,170,857 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,975,441 |
| Total liabilities | $3,550,601 |
| Net assets without donor restrictions | $2,932,567 |
| 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 | $6,483,168 |
Grants Awarded
Over the last fiscal year, Housing Initiative Partnership Inc has awarded $147,006 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FAMILY SERVICES INC PURPOSE: SUBRECIPIENTS TO HIP FOR CITY OF GAITHERSBURG FINANCIAL EMPOWERMENT GRANT. | $31,750 |
UPPER MONTGOMERY ASSISTANCE NETWORK PURPOSE: SUBRECIPIENTS TO HIP FOR CITY OF GAITHERSBURG FINANCIAL EMPOWERMENT GRANT. | $115,256 |