Providence Housing Corporation
- Assets
- $32.4m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- New Orleans, LA
- Founding
- 08/1964
- Data as of
- 07/2022
- EIN
- 72-6019412
Organization Overview
Providence Housing Corporation is located in New Orleans, LA. The organization was established in 1964. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Providence Housing Corporation 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 07/2022, Providence Housing Corporation generated $2.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $12.9m during the year ending 07/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FOR SEMINARY STUDENTS AT NEW ORLEANS BAPTIST THEOLOGICAL SEMINARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES HOUSING FOR 2,200 SEMINARY STUDENTS AND STAFF AT NEW ORLEANS BAPTIST THEOLOGICAL SEMINARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ginger M Cress Vice President | OfficerTrustee | 0.5 | $0 |
Clay Corvin Secretary | OfficerTrustee | 0.5 | $0 |
Brett Allen Treasurer | OfficerTrustee | 0.5 | $0 |
Dr Ed Johnson President | OfficerTrustee | 0.5 | $0 |
Dr Larry Lyon Board Member | Trustee | 0.3 | $0 |
Phil Hanberry Board Member | Trustee | 0.3 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,939,641 |
| Investment income | $9,295 |
| 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 | $2,948,936 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,575,074 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $836,253 |
| Insurance | $100,000 |
| All other expenses | $427,000 |
| Total functional expenses | $12,948,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,322 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $31,986,762 |
| Investments—publicly traded securities | $200,477 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,358,561 |
| Accounts payable and accrued expenses | $621,243 |
| 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 | $33,074,941 |
| Total liabilities | $33,696,184 |
| Net assets without donor restrictions | -$1,433,784 |
| Net assets with donor restrictions | $96,161 |
| 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 | $32,358,561 |
Endowment Analysis
| Beg. Balance | $95,869 |
| Earnings | $95 |
| Ending Balance | $95,964 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Providence Housing Corporation New Orleans, LA | $32,358,561 | $2,948,936 |
Habitat For Humanity Of The Mississippi Gulf Coast Inc Gulfport, MS | $25,008,031 | $3,694,926 |
Habitat For Humanity International Inc Sugar Land, TX | $2,901,957 | $1,388,632 |
Denton Affordable Housing Corporation Denton, TX | $4,539,728 | $959,680 |
Plano Community Home Phase V Inc Plano, TX | $1,013,736 | $408,923 |
Rebuilding Together Greater Dallas Inc Plano, TX | $317,052 | $550,548 |
Highland Lakes Crisis Network Marble Falls, TX | $339,722 | $383,416 |
Gaeda Revitalization Corporation Alexandria, LA | $313,407 | $288,891 |
Main Plaza Conservancy San Antonio, TX | $943,211 | $443,658 |
Grace House Of Baton Rouge Inc Zachary, LA | $3 | $0 |
Direction61 3 McKinney, TX | $587,591 | $414,213 |
Unity Housing Inc New Orleans, LA | $218,062 | $221,527 |