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Breaking Ground Housing Development Fund Corporation

Public charityFed auditsIRS 990
DBA: % KEVIN MORAN
Other · NEW YORK, NY · EIN 11-3048002

About

Breaking ground housing development fund corporation ("BG") was organized on october 11, 1990, under section 402 of the not-for-profit corporation law and pursuant to article XI of the private housing finance law (housing development fund companies law) of the state of NY. Breaking ground is a not-for-profit charitable organization exempt from income and excise taxes under section 501(c)(3) of the internal revenue code. Breaking ground was formed for the charitable purpose of rehabilitating, maintaining and operating low-income housing projects and to provide related social service programs. Breaking ground's success in ending homelessness is built on a housing model that targets individuals and families who are homeless or at risk of becoming homeless. For the chronically homeless, we create safe, secure housing, with essential on-site support services to help them address the psychosocial, mental, and physical health problems that are obstacles to independent living. For individuals who find themselves at the EDGE of homelessness, our affordable housing provides an ALL-important safety NET. For both populations, we strive to create strong, vibrant communities within our buildings and to strengthen the neighborhoods in which our buildings are located through a commitment to social inclusion. Breaking ground has created and operates thousands of units of affordable permanent and transitional housing in the northeastern united states and has approximately one thousand more currently in development. Breaking ground also manages the innovative street outreach program, street to home, which connects the most entrenched, long-term homeless individuals with housing and other critical supportive services. Our work has enabled more than 12,000 people to overcome or avoid homelessness. Breaking ground does projects in NYC and provides social service programs to tenants.

In care of Kevin Moran

Donations are tax-deductible
Category
Other
Employees
0
Volunteers
0

Financial Snapshot

FY ending 2022-12-31
Revenue
$29.8M
Expenses
$19.9M
Assets
$209.0M
Liabilities
$66.1M

Financial history

$30.2M$15.1M$0
16171819202122
RevenueExpenses
Latest FY2022: $29.8M · Peak FY2018: $30.2M · Avg: $27.0M
BREAKING GROUND HOUSING DEVELOPMENT FUND CORPORATION
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Address

505 Eighth Avenue 5TH Floor
New YORK, NY, 10018-650

Governance

Voting board members17
Independent members16
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardYes

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planNo
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo
Public records
ProPublica Nonprofit Explorer
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