Nhp Foundation
- Assets
- $288.6m
- Revenue
- $98.6m
- Investments
- $0.0
- Employees
- 49
- Location
- New York, NY
- Founding
- 11/1990
- Data as of
- 12/2021
- EIN
- 52-1636004
Organization Overview
Nhp Foundation is located in New York, NY. The organization was established in 1990. 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 12/2021, Nhp Foundation employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nhp Foundation 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, Nhp Foundation generated $98.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.2% each year . All expenses for the organization totaled $77.1m during the year ending 12/2021. While expenses have increased by 27.5% 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 NHP FOUNDATION IS A NONPROFIT DEDICATED TO MAKING INVESTMENTS TO PRESERVE & CREATE AFFORDABLE MULTIFAMILY HOUSING FOR LOW-TO-MODERATE INCOME FAMILIES & SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NHP FOUNDATION IS A NONPROFIT ORGANIZATION DEDICATED TO MAKING INVESTMENTS THAT PRESERVE AND CREATE AFFORDABLE MULTIFAMILY HOUSING FOR LOW-TO-MODERATE-INCOME FAMILIES AND SENIORS. THE FOUNDATION ALSO PROVIDES A COMPREHENSIVE ARRAY OF PROGRAMS AND SERVICES TO ENHANCE THE QUALITY OF LIFE FOR ITS RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard F Burns CEO & Board Member | OfficerTrustee | 20 | $700,000 |
Stephen Green Evp & Cio | Officer | 20 | $465,000 |
Eric Price Senior VP | Officer | 20 | $300,000 |
Joseph P Wiedorfer Senior VP | Officer | 20 | $280,000 |
Mecky Adnani Svp, Acquisitions | 34 | $280,000 | |
Jamie Smarr Svp, Affiliate/acquisitions | 35 | $279,999 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Orix Real Estate Capital Llc Mortgage Lender | 12/30/21 | $255,207 |
Catherine Fennell Consulting Services | 12/30/21 | $227,625 |
Baker Tilly Virchow Krause Llp Consulting Services | 12/30/21 | $275,000 |
Rackleff Llp Legal Services | 12/30/21 | $218,836 |
Mri Software Llc Property Data Services | 12/30/21 | $317,487 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $621,901 |
| Government grants | $948,883 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,526,521 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $71,097,305 |
| Total Program Service Revenue | $27,491,811 |
| Investment income | $25,867 |
| 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 | $98,614,983 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,036,109 |
| 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. | $2,622,005 |
| Compensation of current officers, directors, key employees. | $681,721 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,762,234 |
| Pension plan accruals and contributions | $28,742 |
| Other employee benefits | $753,532 |
| Payroll taxes | $640,194 |
| Fees for services: Management | $1,013,476 |
| Fees for services: Legal | $138,409 |
| Fees for services: Accounting | $184,638 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,642,290 |
| Advertising and promotion | $195,307 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,124,023 |
| Travel | $339,450 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,847,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,349,382 |
| Insurance | $482,506 |
| All other expenses | $0 |
| Total functional expenses | $77,105,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,430,495 |
| Savings and temporary cash investments | $6,973,812 |
| Pledges and grants receivable | $13,000 |
| Accounts receivable, net | $877,135 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $85,682,336 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $367,522 |
| Net Land, buildings, and equipment | $55,652,173 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $67,714,797 |
| Intangible assets | $0 |
| Other assets | $56,844,309 |
| Total assets | $288,555,579 |
| Accounts payable and accrued expenses | $4,426,358 |
| 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 | $54,736,837 |
| Unsecured mortgages and notes payable | $22,432,160 |
| Other liabilities | $14,252,390 |
| Total liabilities | $95,847,745 |
| Net assets without donor restrictions | $192,707,834 |
| 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 | $288,555,579 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Nhp Foundation has recieved totaling $13,723,394.
| Awarding Organization | Amount |
|---|---|
C-Hp Cove Inc New York, NY PURPOSE: LOW INCOME HOUSING | $8,919,380 |
Nonprofit Housing Preservations Sb Inc Riviera Beach, FL PURPOSE: LOW INCOME HOUSING | $2,903,790 |
Corporation For Supportive Housing New York, NY PURPOSE: FINANCIAL ASSISTANCE | $1,497,500 |
The Harry & Jeanette Weinberg Foundation Inc Owings Mills, MD PURPOSE: TO SUPPORT THE RENOVATION OF ALEXANDER HOUSE, A 95-UNIT OLDER ADULT AFFORDABLE HOUSING BUILDING BUILT IN 1928 IN HAGERSTOWN, MD, WHICH WILL SUPPORT THE EXPANSION OF OPERATION PATHWAYS SYSTEM OF SERVICES AND SUPPORTS. | $250,000 |
Nonprofit Housing Preservation Pi Inc Riviera Beach, FL PURPOSE: LOW INCOME HOUSING | $77,805 |
Organization Name not Listed PURPOSE: LOW INCOME HOUSING | | $66,669 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Boston Housing Partnership Inc Boston, MA | $59,144,142 | $464,356,613 |
Ndc Housing And Economic Development Corporation Brooklyn, NY | $914,444,452 | $129,829,382 |
Nhp Foundation New York, NY | $288,555,579 | $98,614,983 |
Viecare Beaver Llc Cranberry Township, PA | $43,089,373 | $46,860,704 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |