Housing Benefits
- Assets
- $19.8m
- Revenue
- $3.0m
- Investments
- $25.1k
- Employees
- 25
- Location
- Manchester, NH
- Founding
- 03/2009
- Data as of
- 12/2021
- EIN
- 26-0215059
Organization Overview
Housing Benefits is located in Manchester, NH. The organization was established in 2009. 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 12/2021, Housing Benefits employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Benefits 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, Housing Benefits generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 15.8% 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
PURCHASE AND DEVELOPMENT OF TRANSITIONAL AND LOW-INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSITIONAL AND LOW-INCOME HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Morin Treasurer | OfficerTrustee | 1 | $0 |
Brian Hansen Secretary | OfficerTrustee | 1 | $0 |
Heather Whitfield Chairperson | OfficerTrustee | 1 | $0 |
Maria Devlin President/ceo | Officer | 1 | $0 |
Lisa Allard CFO | Officer | 1 | $0 |
Chad Campbell Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Paradigm Plumbing & Heating Construction | 12/30/18 | $255,402 |
Giguere Electric Construction | 12/30/18 | $108,139 |
Aw Rose Construction Construction | 12/30/18 | $2,628,464 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,210,107 |
| Government grants | $0 |
| 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 | $1,210,107 |
| Total Program Service Revenue | $1,576,470 |
| Investment income | $1,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,463 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $58,707 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,975,053 |
| 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 | $724,183 |
| Pension plan accruals and contributions | $14,275 |
| Other employee benefits | $101,553 |
| Payroll taxes | $47,834 |
| Fees for services: Management | $727,203 |
| Fees for services: Legal | $9,777 |
| Fees for services: Accounting | $52,383 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,313 |
| Advertising and promotion | $0 |
| Office expenses | $29,474 |
| Information technology | $2,802 |
| Royalties | $0 |
| Occupancy | $387,775 |
| Travel | $7,036 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $181,567 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $768,398 |
| Insurance | $105,697 |
| All other expenses | $0 |
| Total functional expenses | $3,857,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,763 |
| Savings and temporary cash investments | $733,414 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,300 |
| 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 | $26,340 |
| Net Land, buildings, and equipment | $18,755,158 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $25,051 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $66,660 |
| Total assets | $19,848,686 |
| Accounts payable and accrued expenses | $621,695 |
| Grants payable | $0 |
| Deferred revenue | $13,859 |
| 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 | $11,469,516 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,756,750 |
| Total liabilities | $13,861,820 |
| Net assets without donor restrictions | $5,986,866 |
| 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 | $19,848,686 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Housing Benefits has recieved totaling $2,273,358.
| Awarding Organization | Amount |
|---|---|
Fit-Nhnh Inc Manchester, NH PURPOSE: To provide affordable housing to families in need. | $1,136,679 |
Fit-Nhnh Inc Manchester, NH PURPOSE: To provide affordable housing to families in need. | $1,136,679 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Avesta Housing Development Corporation Portland, ME | $69,411,595 | $13,114,873 |
Fit-Nhnh Inc Manchester, NH | $20,051,648 | $10,413,245 |
Cambridge Community Housing Development Inc Cambridge, MA | $56,982,552 | $7,704,327 |
Evernorth Burlington, VT | $26,020,823 | $8,207,006 |
Mishawum Park Tenants Association Inc Braintree, MA | $36,767,027 | $4,697,884 |
The Housing Foundation Incorporated Montpelier, VT | $36,391,565 | $7,466,947 |
2life Partners Inc Brighton, MA | $42,841,795 | $8,582,335 |
Gilman Housing Trust Inc Lyndonville, VT | $22,742,155 | $7,737,741 |
Downstreet Housing & Community Development Inc Barre, VT | $14,666,248 | $4,907,611 |
Presidential Gardens Neighborhood Association Inc Bradford, MA | $19,680,718 | $3,390,576 |
Housing Benefits Manchester, NH | $19,848,686 | $2,975,053 |