721 East 6th Street Housing Development Fund Corporation
- Assets
- $478.3k
- Revenue
- $58.3k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1991
- Data as of
- 06/2022
- EIN
- 13-3636346
Organization Overview
721 East 6th Street Housing Development Fund Corporation is located in New York, NY. The organization was established in 1991. 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. 721 East 6th Street Housing Development Fund Corporation 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 06/2022, 721 East 6th Street Housing Development Fund Corporation generated $58.3k 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 (8.6%) each year. All expenses for the organization totaled $132.7k during the year ending 06/2022. 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
OPERATING A HOUSING PROJECT FOR LOW INCOME RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
721 EAST 6TH STREET HDFC (ALSO REFERRED TO AS THE O'TOOLE RESIDENCE) PROVIDES 13 PERMANENTLY AFFORDABLE APARTMENTS TO FORMERLY HOMELESS FAMILIES AND INDIVIDUALS. LOCATED IN THE HEART OF ALPHABET CITY, THE BUILDING WAS HOMESTEADED IN THE EARLY 1980'S AND ORIGINALLY SERVED AS A HOME FOR FORMERLY INCARCERATED WOMEN. EXPOSED TO EXTENSIVE FLOODING DURING SUPERSTORM SANDY IN 2012, THE BUILDING HAS SINCE MADE STRIDES IN SUSTAINABILITY AND RESILIENCY, BECOMING ONE OF THE FIRST SOLARIZED MULTIFAMILY BUILDINGS IN LOWER MANHATTAN AS WELL AS AN EARLY PARTICIPANT IN ENTERPRISE COMMUNITY PARTNER'S RESIDENTIAL TECHNICAL ASSISTANCE PILOT PROGRAM (RTAPP), AN INITIATIVE DESIGNED TO MAKE MULTIFAMILY BUILDINGS MORE ENERGY EFFICIENT AND RESILIENT TO NATURAL DISASTERS. RESIDENTS OF 721 EAST 6TH STREET HDFC BENEFIT FROM NEARBY PROGRAMMING AND SERVICES OFFERED OUT OF NAZARETH HOUSING, INC.'S OFFICE AT 1 HAVEN PLAZA/200 AVENUE C AND 206 EAST 4TH STREET. THESE INCLUDE LOUISE'S FOOD PANTRY, SUPPORTIVE CASE MANAGEMENT, HOUSING COUNSELING, AND INDIVIDUALIZED FINANCIAL CAPABILITY PROGRAMMING. THE HOUSING PROVIDED BY 721 EAST 6TH STREET HDFC ALLOWS OUR LOW-INCOME RESIDENTS TO REMAIN IN THEIR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Kay Orr Executive Dir/treas. Thru 6/30/22 | OfficerTrustee | 4 | $0 |
Steve Wronski President | OfficerTrustee | 1 | $0 |
Mary Kilbourn Vice President | OfficerTrustee | 1 | $0 |
Bennette Kramer Secretary | OfficerTrustee | 1 | $0 |
Sr Irene Ellis Director | Trustee | 1 | $0 |
Sibyl-Michelle Akins Controller | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,107 |
| 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 | $19,107 |
| Total Program Service Revenue | $38,437 |
| Investment income | $16 |
| 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 | $58,305 |
| 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 | $18,375 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,550 |
| 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 | $3,486 |
| Information technology | $2,323 |
| Royalties | $0 |
| Occupancy | $38,544 |
| Travel | $0 |
| 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 | $31,754 |
| Insurance | $20,042 |
| All other expenses | $10,621 |
| Total functional expenses | $132,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,684 |
| Savings and temporary cash investments | $76,719 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,437 |
| 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 | $356,499 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $478,339 |
| Accounts payable and accrued expenses | $8,504 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,777 |
| 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 | $11,120 |
| Total liabilities | $21,401 |
| Net assets without donor restrictions | $456,938 |
| 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 | $478,339 |