Vincents Homes Inc
- Assets
- $2.7m
- Revenue
- $377.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- Data as of
- 12/2021
- EIN
- 84-3879434
Organization Overview
Vincents Homes Inc is located in Philadelphia, PA. 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. Vincents Homes 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, Vincents Homes Inc generated $377.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (40.6%) each year. All expenses for the organization totaled $231.3k 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
TO CREATE AND PRESERVE AFFORDABLE HOUSING AND IMPROVE THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN SUPPORT OF ITS MISSION, THE ORGANIZATION ACQUIRES, CONSTRUCTS, REHABILITATES, IMPROVES, AND LEASES RESIDENTIAL DWELLING UNITS IN THE GERMANTOWN SECTION OF PHILADELPHIA, PENNSYLVANIA TO LOWER-INCOME FAMILIES AT AFFFORDABLE RENTS. TWELVE 12 PROPERTIES WERE ACQUIRED DURING 2020 AND 2021. AS THE END OF 2021, SEVEN 7 OF THESE PROPERTIES WERE DEVELOPED AND LEASED TO LOW-INCOME FAMILIES. THE REMAINING FIVE 5 PROPERTES WILL BE REHABILITATED DURING 2022 WITH THE GOAL OF LEASING THEM TO LOW-INCOME HOUSEHOLDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Jo Timlin-Hoag Director, Treasurer | OfficerTrustee | 0.5 | $0 |
FR Robert Maloney Director, Chairperson | OfficerTrustee | 0.5 | $0 |
Allyson Randolph Director, Secretary | OfficerTrustee | 0.5 | $0 |
Rosanne Haggerty Director, Vice Chairperson | OfficerTrustee | 0.5 | $0 |
Anuj Gupta Director | Trustee | 0.5 | $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 | $301,312 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $301,312 |
| Total Program Service Revenue | $75,788 |
| Investment income | $0 |
| 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 | $377,100 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $12,034 |
| Fees for services: Legal | $1,503 |
| Fees for services: Accounting | $16,845 |
| 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 | $56 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $140,742 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,126 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,585 |
| Insurance | $743 |
| All other expenses | $0 |
| Total functional expenses | $231,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,208,008 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,695 |
| 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 | $19,540 |
| Net Land, buildings, and equipment | $1,453,258 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,694,501 |
| Accounts payable and accrued expenses | $25,052 |
| Grants payable | $0 |
| Deferred revenue | $3,250 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,725 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,500,000 |
| Other liabilities | $0 |
| Total liabilities | $1,536,027 |
| Net assets without donor restrictions | $1,158,474 |
| 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 | $2,694,501 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vincents Homes Inc has recieved totaling $120,000.
| Awarding Organization | Amount |
|---|---|
D Angelo Foundation Princeton, NJ PURPOSE: PROVIDING HOUSING FOR PEOPLE IN NEED | $120,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nhp Foundation New York, NY | $288,555,579 | $98,614,983 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Viecare Beaver Llc Cranberry Township, PA | $43,089,373 | $46,860,704 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |
Housing Visions Unlimited Inc Syracuse, NY | $54,882,329 | $24,284,268 |