Redeemer Village I
- Assets
- $1.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 10
- Location
- Huntingdon Valley, PA
- Founding
- 03/1946
- Data as of
- 09/2021
- EIN
- 23-2091414
Organization Overview
Redeemer Village I is located in Huntingdon Valley, PA. The organization was established in 1946. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Redeemer Village I employed 10 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Redeemer Village I 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 09/2021, Redeemer Village I generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 48.3% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HUD-SUBSIDIZED RENTAL HOUSING TO LOW INCOME ELDERLY AND/OR DISABLED INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES RENTAL HOUSING UNITS FOR LOW INCOME ELDERLY/DISABLED INDIVIDUALS, PRE-QUALIFIED ACCORDING TO HUD REGULATIONS ON HOUSING FOR LOW INCOME INDIVIDUALS OR COUPLES. THE ORGANIZATION MAINTAINS 150 HOUSING UNITS (REGULATED BY HUD, PART I, LINE 6), IN WHICH THE RESIDENTS LIVE IN SAFETY AND SECURITY, ENJOYING COMPANIONSHIP AND INDEPENDENCE IN A HAPPY AND ACTIVE ATMOSPHERE. SERVICES PROVIDED INCLUDE: BUS SERVICE FOR SHOPPING AND RELIGIOUS SERVICES; 24-HOUR ON-CALL EMERGENCY SERVICES; BEAUTY PARLOR; GAME ROOM; ARTS AND CRAFTS ROOM; GENERAL STORE; GIFT SHOP; LIBRARY; AND AN ORGANIZED RESIDENT COUNCIL. THERE WERE A TOTAL OF 169 RESIDENTS SERVED FOR FISCAL YEAR 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Munizza Asst Secretary/vp Resident Services | Officer | 15 | $48,063 |
Michael B Laign Board Member, President/ceo | OfficerTrustee | 0.6 | $1,335 |
Thomas Harris Senior Vp, General Counsel | 0.1 | $644 | |
Donald F Friel Asst Treasurer | Officer | 0.1 | $621 |
Michael Keen Hrhs CFO | 0.01 | $488 | |
Joseph Taylor SVP Population Health/exec Dir Ccc | 0.1 | $471 |
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 | $63,201 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,201 |
| Total Program Service Revenue | $1,536,886 |
| Investment income | $1,348 |
| 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 | $1,613,163 |
| 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. | $61,518 |
| Compensation of current officers, directors, key employees. | $8,291 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $267,626 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $53,494 |
| Payroll taxes | $24,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,073 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $598 |
| Advertising and promotion | $0 |
| Office expenses | $19,621 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $206,010 |
| Travel | $7,126 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,874 |
| Interest | $14,685 |
| Payments to affiliates | $113,235 |
| Depreciation, depletion, and amortization | $100,950 |
| Insurance | $27,845 |
| All other expenses | $3,912 |
| Total functional expenses | $1,092,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,414 |
| Savings and temporary cash investments | $717,210 |
| Pledges and grants receivable | $5,325 |
| Accounts receivable, net | $0 |
| 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 | $46,143 |
| Net Land, buildings, and equipment | $535,740 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,428 |
| Total assets | $1,430,260 |
| Accounts payable and accrued expenses | $102,744 |
| 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 | $432,553 |
| Total liabilities | $535,297 |
| Net assets without donor restrictions | $894,963 |
| 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 | $1,430,260 |
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|---|---|---|
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Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Affordable Housing Alliance Inc Neptune, NJ | $23,008,220 | $15,041,931 |
New Community Corporation Newark, NJ | $92,222,632 | $16,838,314 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Community Housing Network Inc Columbus, OH | $58,364,637 | $14,874,820 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |