The Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc
- Assets
- $15.2m
- Revenue
- $682.0k
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 08/1994
- Data as of
- 12/2021
- EIN
- 11-2229635
Organization Overview
The Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc is located in New York, NY. The organization was established in 1994. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt 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, Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc generated $682.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $921.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 7 years. 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
THE PRINCIPAL PURPOSE OF THE ORGANIZATION IS TO PROVIDE DIRECT FINANCIAL AND TECHNICAL ASSISTANCE TO LOW INCOME SENIOR CITIZEN HOMEOWNERS, LOW INCOME TENANTS, AND COMMUNITY DEVELOPMENT EFFORTS IN THE CITY OF NEW YORK. THIS IS ACCOMPLISHED THROUGH THE PROVISIONS OF NO AND LOW INTEREST AND FORGIVABLE LOANS, THE ADMINISTRATION OF GOVERNMENT LOAN FUNDS FOR QUALIFIED LOW INCOME INDIVIDUALS AND GROUPS, TECHNICAL ASSISTANCE TO NEIGHBORHOOD PRESERVATION AND DEVELOPMENT EFFORTS, AND COUNSELING IN THE AREAS OF PREDATORY LENDING REMEDIATION, FORECLOSURE PREVENTION, AND LOSS MITIGATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHAP - SENIOR CITIZEN HOMEOWNER ASSISTANCE PROGRAMTHROUGH THIS PROGRAM, THE FOUNDATION PROVIDES HOME IMPROVEMENT LOANS AND OTHER FORMS OF FINANCIAL ASSISTANCE TO LOW-INCOME SENIORS WHO ARE AT RISK OF LOSING THEIR HOMES FOR REASONS RANGING FROM DEFERRED MAINTENANCE TO BEING VICTIMIZED BY PREDATORY LENDERS. RESOURCES FOR THIS PROGRAM ARE OBTAINED THROUGH PUBLIC AND PRIVATE SOURCES, THE FOUNDATION IS A LICENSED MORTGAGE BANK IN THE STATE OF NEW YORK AND ORIGINATES AND SERVICES MORTGAGES THAT MEET THE CREDIT NEEDS OF LOW AND MODERATE INCOME BORROWERS. LOAN TERMS VARY FROM CONVENTIONAL INTEREST BEARING. THE PARODNECK FOUNDATION ALSO PARTNERS WITH THE CENTER FOR NEW YORK CITY NEIGHBORHOOD (AS A SUBCONTRACTOR) ON THE HOMEFIX PROGRAM. THIS PROGRAM PROVIDES NO-TO-LOW INTEREST REPAIR LOANS TO HOMEOWNERS THROUGHOUT NYC.
CATCH MANAGEMENT PROGRAMCOMMUNITY ASSISTED TENANT CONTROLLED HOUSING (CATCH), INC. ("CATCH") IS A SEPARATE ORGANIZATION FOR WHICH THE FOUNDATION PROVIDES FISCAL AND ADMINISTRATIVE SERVICES. CATCH OPERATES IN THE BRONX, BROOKLYN AND MANHATTAN AND HAS DEVELOPED OVER 900 UNITS OF AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Wray Executive Director | Officer | 32 | $122,659 |
Harold Derienzo Asst. Treasurer/ Corporate | OfficerTrustee | 15 | $78,378 |
Irma Rodriguez Chairperson | OfficerTrustee | 5 | $0 |
Greg Carlson Board Member | Trustee | 5 | $0 |
William Hilton Board Member | Trustee | 5 | $0 |
Rick Roberto Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $384,407 |
| 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 | $384,407 |
| Total Program Service Revenue | $193,633 |
| Investment income | $103,936 |
| 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 | $682,026 |
| 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. | $235,608 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $306,173 |
| Pension plan accruals and contributions | $8,340 |
| Other employee benefits | $29,295 |
| Payroll taxes | $44,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,339 |
| Fees for services: Accounting | $21,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,070 |
| Advertising and promotion | $0 |
| Office expenses | $79,598 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,693 |
| Travel | $3,446 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,369 |
| Insurance | $42,684 |
| All other expenses | $25,737 |
| Total functional expenses | $920,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,369,048 |
| Savings and temporary cash investments | $181,513 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,049 |
| 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 | $273,017 |
| Investments—publicly traded securities | $3,154,743 |
| Investments—other securities | $0 |
| Investments—program-related | $9,938,399 |
| Intangible assets | $0 |
| Other assets | $322,510 |
| Total assets | $15,240,279 |
| Accounts payable and accrued expenses | $2,341 |
| Grants payable | $11,036,018 |
| 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 | $200,000 |
| Total liabilities | $11,238,359 |
| Net assets without donor restrictions | $3,781,630 |
| Net assets with donor restrictions | $220,290 |
| 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 | $15,240,279 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc has recieved totaling $111,510.
| Awarding Organization | Amount |
|---|---|
The Center For New York City New York, NY PURPOSE: HOUSING & LEGAL COUNSELING | $111,510 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association For Energy Affordability Inc Bronx, NY | $8,796,586 | $16,696,902 |
Bedford Stuyvesant Restoration Corporation Brooklyn, NY | $66,956,082 | $10,958,396 |
Tioga Opportunities Inc Owego, NY | $6,623,346 | $5,643,781 |
Puertorriguenos Asociados For Community Organization Inc Jersey City, NJ | $2,164,949 | $2,929,445 |
Rebuilding Together Philadelphia Philadelphia, PA | $1,909,589 | $2,697,411 |
Bluehub Capital Inc Boston, MA | $18,553,228 | $2,089,518 |
Rebuilding Together Nyc Brooklyn, NY | $1,427,304 | $2,371,566 |
Margert Community Corporation Far Rockaway, NY | $3,330,961 | $2,086,587 |
Neighborhood Housing Services Of Brooklyn Cdc Inc Brooklyn, NY | $1,795,417 | $1,982,493 |
Revitalize Community Development Corporation Springfield, MA | $1,147,655 | $1,631,716 |
Lucille Clark Housing Development Fund Co Inc New York, NY | $2,660,768 | $778,673 |
The Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc New York, NY | $15,240,279 | $682,026 |