Urban Edge Housing Corp
- Assets
- $48.1m
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 36
- Location
- Roxbury, MA
- Founding
- 04/1984
- Data as of
- 12/2021
- EIN
- 22-2483475
Organization Overview
Urban Edge Housing Corp is located in Roxbury, MA. The organization was established in 1984. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Urban Edge Housing Corp employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Urban Edge Housing Corp 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, Urban Edge Housing Corp generated $13.2m 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 (5.6%) each year. All expenses for the organization totaled $8.5m 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
URBAN EDGE IS DEDICATED TO STRENGTHENING COMMUNITIES AND FAMILIES TOGETHER, WE BUILD AFFORDABLE HOUSING AND VIBRANT, PROSPEROUS NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES- SUBSIDIZED RENTAL HOUSING IN THE ROXBURY, DORCHESTER, JAMAICA PLAIN, AND MATTAPAN NEIGHBORHOODS OF BOSTON, MASSACHUSETTS.
REAL ESTATE DEVELOPMENTS- FINANCES THE ACQUISITION AND RENOVATION OF LOW INCOME RENTAL PROPERTIES AND STIMULATES BUSINESS GROWTH AND EMPLOYMENT OPPORTUNITIES.
COMMUNITY ENGAGEMENT - PROVIDES VITAL SOCIAL SERVICES RELATING TO URBAN EDGE'S ROLE IN THE EGLESTON SQUARE AND JACKSON SQUARE COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emilio Dorcely Chief Executive Officer | Officer | 40 | $225,800 |
Salvatore J Bosco Chief Financial Officer/asst. Clerk | Officer | 20 | $175,318 |
Emily Loomis Director Of Real Estate | 40 | $162,169 | |
Keven Spillane Jr Asset Manager | 20 | $142,763 | |
Robert Credle Director Of Community Programs | 40 | $124,420 | |
Elena David Director Of Human Resources | 40 | $121,965 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aafcpas Inc Audit/tax/consulting | 12/30/21 | $112,975 |
Nei General Contracting Inc Construction | 12/30/21 | $211,334 |
Adina Astor Consulting Strategic Plan Consultant | 12/30/21 | $107,375 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $135,680 |
| Membership dues | $0 |
| Fundraising events | $159,855 |
| Related organizations | $0 |
| Government grants | $1,397,118 |
| All other contributions, gifts, grants, and similar amounts not included above | $839,091 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,531,744 |
| Total Program Service Revenue | $7,184,950 |
| Investment income | $127,934 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $338,294 |
| Net Income from Fundraising Events | -$48,153 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,249,471 |
| 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. | $425,960 |
| Compensation of current officers, directors, key employees. | $240,226 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,584,808 |
| Pension plan accruals and contributions | $34,694 |
| Other employee benefits | $443,246 |
| Payroll taxes | $308,447 |
| Fees for services: Management | $64,188 |
| Fees for services: Legal | $8,724 |
| Fees for services: Accounting | $148,170 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $95,392 |
| Advertising and promotion | $0 |
| Office expenses | $1,357,564 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $860,310 |
| Travel | $7,702 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,911 |
| Interest | $117,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $470,051 |
| Insurance | $288,580 |
| All other expenses | $75,602 |
| Total functional expenses | $8,476,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,479,938 |
| Savings and temporary cash investments | $7,628,784 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,066,119 |
| 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 | $57,544 |
| Net Land, buildings, and equipment | $7,850,592 |
| Investments—publicly traded securities | $12,002,578 |
| Investments—other securities | $0 |
| Investments—program-related | $3,700,924 |
| Intangible assets | $0 |
| Other assets | $7,279,293 |
| Total assets | $48,065,772 |
| Accounts payable and accrued expenses | $492,726 |
| Grants payable | $0 |
| Deferred revenue | $258,391 |
| Tax-exempt bond liabilities | $1,162,717 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,086,117 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,250,000 |
| Total liabilities | $10,249,951 |
| Net assets without donor restrictions | $37,405,746 |
| Net assets with donor restrictions | $410,075 |
| 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 | $48,065,772 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Urban Edge Housing Corp has recieved totaling $258,300.
| Awarding Organization | Amount |
|---|---|
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $80,150 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $80,150 |
Cambridge Savings Charitable Foundation Inc Cambridge, MA PURPOSE: EXEMPT PURPOSE | $50,000 |
Liberty Mutual Foundation Inc Boston, MA PURPOSE: STRONG START ROXBURY | $35,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Community Development | $6,000 |
Rockland Trust Blue Hills Charitable Foundation Rockland, MA PURPOSE: PROGRAM SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Veterans Inc Worcester, MA | $18,236,837 | $18,440,204 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |
Delaware Opportunities Inc Hamden, NY | $6,012,612 | $14,102,184 |
Painters District Council No 4 S U B Fund Cheektowaga, NY | $33,742,384 | $15,066,465 |
Community Action Agency Of New Haven Inc New Haven, CT | $523,093 | $14,060,753 |
Economic Opportunity Commission Of Nassau County Inc Hempstead, NY | $10,306,992 | $13,197,438 |
Cypress Hills Local Development Corporation Inc Brooklyn, NY | $20,394,898 | $16,091,549 |