Charles T Sitrin Network Of Homes & Services Inc
- Assets
- $5.7m
- Revenue
- $2.6m
- Investments
- $68.8k
- Employees
- 49
- Location
- New Hartford, NY
- Founding
- 03/1953
- Data as of
- 12/2021
- EIN
- 15-0543936
Organization Overview
Charles T Sitrin Network Of Homes & Services Inc is located in New Hartford, NY. The organization was established in 1953. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Charles T Sitrin Network Of Homes & Services Inc employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charles T Sitrin Network Of Homes & Services 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, Charles T Sitrin Network Of Homes & Services Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 59.8% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 66.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CHARLES T. SITRIN NETWORK OF HOMES & SERVICES, INC. SERVES AS A PARENT AND SUPPORTING ORGANIZATION TO THE 501(C)3 SUBSIDIARY CORPORATIONS LISTED IN SCHEDULE R.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, THE NETWORK SUPPORTED A VARIETY OF ITS AFFILIATES. ONE WAY OF PROVIDING SUPPORT IS THROUGH MANAGEMENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christa Serafin CEO | Officer | 1 | $251,372 |
Michael Cominsky Vice Chairman | OfficerTrustee | 2 | $0 |
David Goldbas Treasurer | OfficerTrustee | 2 | $0 |
Mark Smith Chairman | OfficerTrustee | 2 | $0 |
Edward Kowalsky Vice Chairman | OfficerTrustee | 2 | $0 |
Marsha Silverman Corresponding Secretary | OfficerTrustee | 2 | $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 | $5,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,050 |
| Total Program Service Revenue | $0 |
| Investment income | $71,519 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $89,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,565,351 |
| 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. | $245,852 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,560,674 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $26,605 |
| Other employee benefits | $164,340 |
| Payroll taxes | $131,321 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,664 |
| Fees for services: Accounting | $85,328 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,361 |
| Fees for services: Other | $72,954 |
| Advertising and promotion | $50,634 |
| Office expenses | $66,895 |
| Information technology | $71,016 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,850 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,517,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,031 |
| Savings and temporary cash investments | $536,351 |
| 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 | $1,431,150 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,115,759 |
| Investments—publicly traded securities | $2,179,390 |
| Investments—other securities | $68,806 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $383,081 |
| Total assets | $5,734,568 |
| Accounts payable and accrued expenses | $192,150 |
| 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 | $192,150 |
| Net assets without donor restrictions | $5,498,139 |
| Net assets with donor restrictions | $44,279 |
| 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 | $5,734,568 |
Grants Awarded
Over the last fiscal year, Charles T Sitrin Network Of Homes & Services Inc has awarded $134,556 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
New Hartford, NY PURPOSE: TO HELP FUND EMPLOYEE CHRISTMAS BONUSES PAID BY THE HEALTH CARE CENTER. | $80,000 |
New Hartford, NY PURPOSE: TO REIMBURSE THE HEALTH CARE CENTER FOR AN EQUIPMENT PURCHASE. | $29,995 |
New Hartford, NY PURPOSE: TO TRANSFER THE BALANCE IN A FUNDRAISING ACCOUNT TO THE HEALTH CARE CENTER. | $13,817 |
New Hartford, NY PURPOSE: TO REIMBURSE THE HEALTH CARE CENTER FOR AN EQUIPMENT PURCHASE. | $10,744 |
Endowment Analysis
| Beg. Balance | $43,821 |
| Earnings | $459 |
| Ending Balance | $44,280 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Housing Investment Corp Boston, MA | $51,753,115 | $18,783,706 |
Bluehub Loan Fund Inc Boston, MA | $271,825,520 | $22,754,955 |
Bridgeport Neighborhood Trust Inc Bridgeport, CT | $32,575,822 | $5,985,060 |
The Housing Partnership Fund Inc Boston, MA | $55,046,443 | $7,425,102 |
Housing Development Fund Inc Stamford, CT | $52,033,074 | $5,301,670 |
Brethren Home Foundation New Oxford, PA | $93,081,765 | $10,604,405 |
Charles T Sitrin Network Of Homes & Services Inc New Hartford, NY | $5,734,568 | $2,565,351 |
Community Lenders Community Development Corporation Souderton, PA | $50,531,502 | $2,129,949 |
St Andrews Housing Dev Fund Co Bronx, NY | $6,076,696 | $1,599,941 |
Concorse Gardens Housing Development Fund Company Inc New York, NY | $6,125,545 | $1,915,994 |
Our Lady Of Fatima Apartments Housing Dev Fund Company Inc Brooklyn, NY | $6,530,778 | $972,901 |
American Friends Of Belz Inc Brooklyn, NY | $1,617,806 | $1,168,906 |