Nhp Foundation
- Assets
- $301.3m
- Revenue
- $48.8m
- Investments
- $0.0
- Employees
- 68
- Location
- New York, NY
- Founding
- 11/1990
- Data as of
- 12/2022
- EIN
- 52-1636004
Organization Overview
Nhp Foundation is located in New York, NY. The organization was established in 1990. 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 12/2022, Nhp Foundation employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nhp Foundation 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 12/2022, Nhp Foundation generated $48.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $33.4m during the year ending 12/2022. While expenses have increased by 11.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE NHP FOUNDATION IS A NONPROFIT DEDICATED TO MAKING INVESTMENTS TO PRESERVE & CREATE AFFORDABLE MULTIFAMILY HOUSING FOR LOW-TO-MODERATE INCOME FAMILIES & SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NHP FOUNDATION IS A NONPROFIT ORGANIZATION DEDICATED TO MAKING INVESTMENTS THAT PRESERVE AND CREATE AFFORDABLE MULTIFAMILY HOUSING FOR LOW-TO-MODERATE-INCOME FAMILIES AND SENIORS. THE FOUNDATION ALSO PROVIDES A COMPREHENSIVE ARRAY OF PROGRAMS AND SERVICES TO ENHANCE THE QUALITY OF LIFE FOR ITS RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Weers Board Member | Trustee | 1 | $10,000 |
Charu Singh Board Member | Trustee | 1 | $10,000 |
Cherie Santos-Wuest Board Member | Trustee | 1 | $10,000 |
Frank L Sullivan Jr Board Member | Trustee | 1 | $5,000 |
Glynna K Christian Board Member | Trustee | 1 | $10,000 |
Grace Torres Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mri Software Llc Database Services | 12/30/22 | $525,604 |
Rackle Llp Legal And Consulting | 12/30/22 | $196,650 |
Studio K Architecture Architect | 12/30/22 | $359,083 |
Legacy Real Estate Development Llc Construction Development, Acquisition Co | 12/30/22 | $250,000 |
New Urban Project Management Llc Construction Monitoring Services | 12/30/22 | $189,331 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $12,937,881 |
| Government grants | $6,854,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,916,989 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,708,885 |
| Total Program Service Revenue | $26,981,321 |
| Investment income | $99,793 |
| 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 | $48,789,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,017,966 |
| 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. | $2,653,629 |
| Compensation of current officers, directors, key employees. | $622,729 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,453,328 |
| Pension plan accruals and contributions | $32,860 |
| Other employee benefits | $866,584 |
| Payroll taxes | $716,481 |
| Fees for services: Management | $2,012,689 |
| Fees for services: Legal | $320,145 |
| Fees for services: Accounting | $228,688 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,190,408 |
| Advertising and promotion | $229,143 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,034,320 |
| Travel | $663,581 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,051,751 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,069,798 |
| Insurance | $454,419 |
| All other expenses | $238,686 |
| Total functional expenses | $33,419,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,863,705 |
| Savings and temporary cash investments | $5,241,295 |
| Pledges and grants receivable | $49,000 |
| Accounts receivable, net | $849,813 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $105,962,852 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $303,759 |
| Net Land, buildings, and equipment | $29,888,999 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $77,674,904 |
| Intangible assets | $6,197,266 |
| Other assets | $60,297,878 |
| Total assets | $301,329,471 |
| Accounts payable and accrued expenses | $3,454,622 |
| 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 | $32,293,225 |
| Unsecured mortgages and notes payable | $23,781,166 |
| Other liabilities | $14,468,843 |
| Total liabilities | $73,997,856 |
| Net assets without donor restrictions | $227,331,615 |
| 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 | $301,329,471 |