Providence Community Housing
- Assets
- $22.9m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 12
- Location
- New Orleans, LA
- Founding
- 03/2007
- Data as of
- 12/2020
- EIN
- 20-4627275
Organization Overview
Providence Community Housing is located in New Orleans, LA. The organization was established in 2007. 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. As of 12/2020, Providence Community Housing employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Community Housing 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 12/2020, Providence Community Housing generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATIONS MISSION IS TO TRANSFORM LIVES AND COMMUNITIES THROUGH THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOMES WHILE CONNECTING INDIVIDUALS AND FAMILIES TO OPPORTUNITIES THAT ENHANCE THEIR QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENT - THIS PROGRAM INCLUDES ALL COSTS, EXCLUDING CAPITAL EXPENSES, ASSOCIATED WITH ACQUIRING, DEVELOPING AND PRESERVING AFFORDABLE REAL ESTATE FOR INDIVIDUALS, SENIORS, AND FAMILIES, INCLUDING BOTH RENTAL UNITS AND HOMES FOR SALE. THERE ARE APPROXIMATELY 531 UNITS IN THE CONCEPT/PRE-DEVELOPMENT PLANNING STAGE, NONE ARE CURRENTLY UNDER CONSTRUCTION, AND 59 ARE IN STABILIZATION/LEASE-UP.
ASSET MANAGEMENT - THIS PROGRAM CONSISTS OF EXPENSES RELATED TO OVERSEEING THE MANAGEMENT OF OPERATING RENTAL PROPERTIES INCLUDING INDIVIDUAL, MULTI-FAMILY AND SENIOR HOUSING AS BOTH A DIRECT OWNER AND GENERAL PARTNER. THERE ARE 1,242 UNITS CURRENTLY IN SERVICE.
HOME OWNERSHIP PROMOTION - THIS PROGRAM CONSISTS OF COSTS ASSOCIATED WITH PROMOTING HOME OWNERSHIP INCLUDING THE MARKETING AND SALE OF NEWLY DEVELOPED PROPERTIES, MANAGING A BUYER PIPELINE THROUGH A BUYER POOL DEVELOPMENT PROGRAM, AND ACTING AS A CONTRACT ADMINISTRATOR FOR OTHER AGENCIES BY PROVIDING PROFESSIONAL SERVICES REGARDING THEIR LENDING PROGRAMS. THIS PROGRAM CREATED 11 NEW HOMEOWNERS THROUGHPROGRAM ADMINISTRATION FOR OTHER AGENCIES AND 2 THROUGH DIRECT HOME SALES.
REAL ESTATE DEVELOPMENT - THIS PROGRAM INCLUDES ALL COSTS, EXCLUDING CAPITAL EXPENSES, ASSOCIATED WITH ACQUIRING, DEVELOPING AND PRESERVING AFFORDABLE REAL ESTATE FOR INDIVIDUALS, SENIORS, AND FAMILIES, INCLUDING BOTH RENTAL UNITS AND HOMES FOR SALE. THERE ARE APPROXIMATELY 531 UNITS IN THE CONCEPT/PRE-DEVELOPMENT PLANNING STAGE, NONE ARE CURRENTLY UNDER CONSTRUCTION, AND 59 ARE IN STABILIZATION/LEASE-UP.
ASSET MANAGEMENT - THIS PROGRAM CONSISTS OF EXPENSES RELATED TO OVERSEEING THE MANAGEMENT OF OPERATING RENTAL PROPERTIES INCLUDING INDIVIDUAL, MULTI-FAMILY AND SENIOR HOUSING AS BOTH A DIRECT OWNER AND GENERAL PARTNER. THERE ARE 1,242 UNITS CURRENTLY IN SERVICE.
HOME OWNERSHIP PROMOTION - THIS PROGRAM CONSISTS OF COSTS ASSOCIATED WITH PROMOTING HOME OWNERSHIP INCLUDING THE MARKETING AND SALE OF NEWLY DEVELOPED PROPERTIES, MANAGING A BUYER PIPELINE THROUGH A BUYER POOL DEVELOPMENT PROGRAM, AND ACTING AS A CONTRACT ADMINISTRATOR FOR OTHER AGENCIES BY PROVIDING PROFESSIONAL SERVICES REGARDING THEIR LENDING PROGRAMS. THIS PROGRAM CREATED 11 NEW HOMEOWNERS THROUGHPROGRAM ADMINISTRATION FOR OTHER AGENCIES AND 2 THROUGH DIRECT HOME SALES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri North President & CEO | Officer | 40 | $160,116 |
Lisa Sammons Treasurer/cfo | Officer | 40 | $109,298 |
Ryan Herringshaw Secretary | Officer | 40 | $89,761 |
Brown Marks Vice Chair | Trustee | 1 | $0 |
Michelle Whetten Director | Trustee | 1 | $0 |
Charlotte Bourgeois Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kimberly Finney Architect Llc Architecture | 12/30/18 | $119,817 |
Titan Of Louisiana Construction Serv | 12/30/18 | $115,176 |
Vpg Construction Construction Serv | 12/30/18 | $541,290 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,136,091 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,001 |
| Noncash contributions included in lines 1a–1f | $206,001 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,209,092 |
| Total Program Service Revenue | $2,395,816 |
| Investment income | $201 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $82,396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,687,505 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $86,695 |
| 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. | $359,176 |
| Compensation of current officers, directors, key employees. | $101,988 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $599,366 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $119,494 |
| Payroll taxes | $76,099 |
| Fees for services: Management | $15,507 |
| Fees for services: Legal | $6,337 |
| Fees for services: Accounting | $26,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $97,331 |
| Advertising and promotion | $13,736 |
| Office expenses | $51,363 |
| Information technology | $25,960 |
| Royalties | $0 |
| Occupancy | $106,169 |
| Travel | $5,700 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,754 |
| Interest | $140,836 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $132,642 |
| Insurance | $70,420 |
| All other expenses | $46,520 |
| Total functional expenses | $2,766,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,108,511 |
| Savings and temporary cash investments | $238,701 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,870 |
| 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 | $40,519 |
| Net Land, buildings, and equipment | $7,572,994 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $11,499,013 |
| Intangible assets | $0 |
| Other assets | $440,392 |
| Total assets | $22,914,000 |
| Accounts payable and accrued expenses | $94,477 |
| Grants payable | $0 |
| Deferred revenue | $1,687 |
| 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 | $5,616,405 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,835,595 |
| Total liabilities | $9,548,164 |
| Net assets without donor restrictions | $12,102,135 |
| Net assets with donor restrictions | $1,263,701 |
| 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 | $22,914,000 |
Grants Awarded
Over the last fiscal year, Providence Community Housing has awarded $173,390 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
New Orleans, LA PURPOSE: HOMEBUYER SOFT 2ND ASSISTANCE | $61,695 |
New Orleans, LA PURPOSE: HOMEBUYER SOFT 2ND ASSISTANCE | $61,695 |
New Orleans, LA PURPOSE: EMERGENCY ASSIST. LAFITTE RESIDENTS | $25,000 |
New Orleans, LA PURPOSE: EMERGENCY ASSIST. LAFITTE RESIDENTS | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Providence Community Housing has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: COMMUNITY PRESERVATION AND DEVELOPMENT | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |
Housing And Community Services Inc San Antonio, TX | $78,883,961 | $25,153,792 |
Front Steps Inc Austin, TX | $4,289,583 | $9,800,885 |
Operation Finally Home New Braunfels, TX | $6,586,831 | $9,808,854 |
Residential Realty Group I Inc A Delaware Corp Houston, TX | $5,107,430 | $0 |
Texas State Affordable Housing Corporation Austin, TX | $253,139,285 | $134,173,909 |
Affordable Homes Of South Texas Inc McAllen, TX | $103,488,334 | $9,163,673 |