Federation Gulfstream Housing Inc
- Assets
- $0.0
- Revenue
- $28.7m
- Investments
- $0.0
- Employees
- 4
- Location
- Boca Raton, FL
- Founding
- 06/1985
- Data as of
- 06/2020
- EIN
- 59-2541344
Organization Overview
Federation Gulfstream Housing Inc is located in Boca Raton, FL. The organization was established in 1985. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2020, Federation Gulfstream Housing Inc employed 4 individuals. Federation Gulfstream Housing 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 06/2020, Federation Gulfstream Housing Inc generated $28.7m in total revenue. All expenses for the organization totaled $27.7m during the year ending 06/2020. While expenses have increased by 86.7% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RENTAL HOUSING FOR THE ELDERLY, INCLUDING FACILITIES AND SERVICES DESIGNED TO MEET THE PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED HUD LOW INCOME HOUSING FACILITY (100 UNITS) FOR ELDERLY AND HANDICAPPED RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wesley Finch President | OfficerTrustee | 0 | $0 |
Mel Lowell Treasurer/director | OfficerTrustee | 1 | $0 |
Barry Podolsky Vice President | OfficerTrustee | 0 | $0 |
David Galpern Director | Trustee | 0 | $0 |
Matthew C Levin Director | Trustee | 1 | $0 |
Arthur Goldberg Director | Trustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,138,330 |
| Investment income | $1,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,527,508 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,667,255 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,305,665 |
| 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 | $137,927 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,468 |
| Payroll taxes | $10,899 |
| Fees for services: Management | $45,334 |
| Fees for services: Legal | $325 |
| Fees for services: Accounting | $13,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $23,769 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,902 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $436,581 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $347,007 |
| Insurance | $69,696 |
| All other expenses | $9,594 |
| Total functional expenses | $27,693,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |