Partnership Inc
- Assets
- $43.9m
- Revenue
- $32.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Riviera Beach, FL
- Founding
- 08/1996
- Data as of
- 12/2021
- EIN
- 65-0522900
Organization Overview
Partnership Inc is located in Riviera Beach, FL. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 12/2021, Partnership Inc generated $32.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.4% each year . All expenses for the organization totaled $5.4m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MANAGEMENT & DEVELOPMENT OF LOW-INCOME HOUSING -- OFFICE SPACE FOR NON-PROFIT ORGANIZATIONS -- SOCIAL SERVICES IN MANAGED HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING PROGRAMS MANAGEMENT AND DEVELOPMENT OF LOW INCOME SUPPORTIVE HOUSING.
MULTIPLE APARTMENT COMPLEXES PROVIDING HOUSING FOR LOW-INCOME INDIVIDUALS AND FAMILIES.
OFFICE SPACE OFFERED TO NON PROFIT PROVIDERS.
SUPPORTIVE HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Corbett Executive Director/ceo | OfficerTrustee | 40 | $508,413 |
Hugh Jacobs Evp/coo | Officer | 40 | $233,895 |
Douglas Kohn Director Of Asset Management And Finance | 40 | $115,775 | |
Jamie Williamson Assistant Vice President | Officer | 40 | $93,515 |
Richard Geach Board Member | Trustee | 0.5 | $0 |
Michael F Laporta Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,885,599 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,024,719 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,910,318 |
| Total Program Service Revenue | $6,099,868 |
| Investment income | $1,047,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,971,727 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,029,188 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,500 |
| 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. | $1,153,947 |
| Compensation of current officers, directors, key employees. | $953,947 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,030,495 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,457 |
| Payroll taxes | $22,806 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,345 |
| Fees for services: Accounting | $25,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $85,737 |
| Fees for services: Other | $0 |
| Advertising and promotion | $261 |
| Office expenses | $68,462 |
| Information technology | $8,323 |
| Royalties | $0 |
| Occupancy | $343,366 |
| Travel | $18,247 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $210,541 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $487,912 |
| Insurance | $294,563 |
| All other expenses | $180,766 |
| Total functional expenses | $5,407,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,221,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $288,333 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $121,083 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $126,248 |
| Net Land, buildings, and equipment | $2,538,262 |
| Investments—publicly traded securities | $39,291,906 |
| Investments—other securities | $0 |
| Investments—program-related | $315,359 |
| Intangible assets | $0 |
| Other assets | $18,862 |
| Total assets | $43,921,488 |
| Accounts payable and accrued expenses | $175,592 |
| Grants payable | $0 |
| Deferred revenue | $10,228 |
| 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 | $717,095 |
| Total liabilities | $902,915 |
| Net assets without donor restrictions | $43,018,573 |
| 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 | $43,921,488 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Partnership Inc has recieved totaling $10,446,113.
| Awarding Organization | Amount |
|---|---|
C-Hp Cove Inc New York, NY PURPOSE: LOW INCOME HOUSING | $5,945,954 |
Nonprofit Housing Preservations Sb Inc Riviera Beach, FL PURPOSE: LOW INCOME HOUSING | $4,355,685 |
Nonprofit Housing Preservation Pi Inc Riviera Beach, FL PURPOSE: LOW INCOME HOUSING | $77,805 |
Organization Name not Listed PURPOSE: LOW INCOME HOUSING | | $66,669 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Habitat For Humanity Of Collier County Inc Naples, FL | $122,499,137 | $30,188,706 |
I M Sulzbacher Center For The Homeless Inc Jacksonville, FL | $19,053,781 | $20,126,235 |
Housing Partnership Inc Riviera Beach, FL | $13,058,186 | $17,518,413 |
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Opa-Locka Community Development Corporation Inc Opa Locka, FL | $85,273,967 | $19,527,204 |
Orlando Neighborhood Improvement Corporation Inc Orlando, FL | $57,656,701 | $16,159,756 |
Habitat For Humanity International Inc Tampa, FL | $16,516,073 | $18,669,195 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |
Habitat For Humanity International Inc Jacksonville, FL | $26,227,920 | $12,923,898 |
Greater Birmingham Habitat For Humanity Inc Fairfield, AL | $36,123,846 | $9,151,776 |
American Opportunity Foundation Atlanta, GA | $34,585,201 | $5,667,158 |
Recovery Place Community Services Inc Savannah, GA | $2,985,458 | $7,587,530 |