irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $2.98MLEASE UP AND COMPLIANCE SERVICES FOR AFFORDABLE HOUSING DEVELOPMENTS. SHF WORKS NYC AND NY STATE REGULATORY AUTHORITIES TO CONDUCT HOUSING LOTTERIES FOR AFFORDABLE HOUSING APPARTMENTS.
named programs · 4 · from sources
What they call their work
DREAMS / YouthBuild Program
Provides education and job training for disconnected young adults (ages 18–25) to complete GEDs and gain employment skills
Lease Up and Compliance Services
Manages housing lotteries and regulatory compliance for affordable housing developments in partnership with NYC and NY State authorities
NYCHA PACT Rehabilitation
Leads rehabilitation of public housing developments such as Harlem River Houses and Harlem River II to improve living conditions and sustainability
New Settlement Community Campus
Integrated community facility in the Bronx offering public schools, health clinic, recreational spaces, and community programming
activities · 4 groups
What they do
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Affordable Housing Development and Management 3 activities
- Development and rehabilitation of affordable housingAcquires, constructs, and rehabilitates residential properties to create and preserve high-quality, energy-efficient, and safe affordable housing units in Manhattan, Brooklyn, and the Bronx. The organization has developed over 69 projects containing more than 8,900 units, including new construction and major rehabilitations of historic public housing developments such as Harlem River Houses and 1561 Walton Avenue.
- Operating housing lotteries for affordable unitsConducts housing lotteries for affordable apartments in coordination with New York City and New York State regulatory authorities to ensure fair and transparent allocation of units.
- Reserving housing units for families transitioning from homelessnessReserves up to 50% of its affordable housing units for families transitioning from homelessness, supporting their move to permanent housing with access to on-site services and stability-promoting programs.
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Fundraising for Community and Charitable Initiatives 1 activity
- Fundraising for affordable housing and resident servicesRaises funds through events such as an annual gala—raising over $775,000 in one year—to support the development of affordable housing and the provision of resident services and community enhancements in New York City.
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Comprehensive Community Service Hubs 1 activity
- Provision of on-site resident services and community amenitiesProvides programs, services, and recreational facilities within its housing developments to support housing stability and community strength, particularly for families transitioning from shelters. Amenities include health clinics, playgrounds, amphitheaters, community centers, and multipurpose facilities, as demonstrated at the New Settlement Community Campus on Jerome Avenue.
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Youth Workforce Readiness Programs 1 activity
- Youth workforce and education program (DREAMS/YouthBuild)Operates the DREAMS/YouthBuild program that supports disconnected young adults (ages 18–25) by helping them complete their GED and gain employment skills.
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financials · form 990 · fy2024
revenue
Total revenue$15.17M
Contributions & grants$4.22M28%
Program service revenue$9.24M61%
Investment income$1.21M8%
Other revenue$499K
expenses
Total expenses$13.75M
Program expenses81%
Admin / overhead17%
Fundraising2%
Salaries & benefits$8.08M
Grants paid out$160K
Largest expense lineCompensation
balance sheet
Total assets$72.83M
Cash$4.35M
Investments$2.13M
Liabilities$19.55M
Net assets$53.28M
Liquid reserves5.7 mo
5 years on record · 2019–2024 · YoY revenue -15.2%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 11
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| JUDITH HERBSTMAN | PRESIDENT | 35 | $317K |
| RICHARD JOHNS | CHIEF OPERATING OFFICER | 35 | $240K |
| JACQUELINE TOM | GENERAL COUNSEL | 35 | $219K |
| MICHAEL GABOURY | DIRECTOR OF REAL ESTATE DE | 35 | $217K |
| RIGAUD NOEL | EXECUTIVE DIRECTOR | 35 | $217K |
| JAMES HUANG | DIRECTOR OF CONSTRUCTION | 35 | $196K |
| MICHELLE JIMENEZ | DIRECTOR OF HUMAN RESOURCE | 35 | $188K |
| KRISTEN ANDREAZZA | CFO | 35 | $168K |
| JEREMY EHRHART | DIRECTOR OF ASSET MANAGEMENT | 35 | $162K |
| MILDRED FLORES-THEVENIN | DIRECTOR OF MARKETING | 35 | $159K |
| ALEXA SEWELL | OUTGOING PRESIDENT | 35 | $84K |
board members · 14
- CHARLES BRASS — SECRETARY
- CHARLES WARREN — BOARD CHAIR
- DAVID RICHARDSON ESQ — VICE CHAIR
- GARRAUD ETIENNE — DIRECTOR
- GARY JACOB — VICE CHAIR
- JEFFERY GURAL — DIRECTOR
- JENNIFER CARUCCI-WATERS — DIRECTOR
- JOAN TALLY — DIRECTOR
- JOHN VALLADARES — DIRECTOR
- JUAN BARAHONA — DIRECTOR
- JUDY KESSLER — DIRECTOR
- MARVIN MARKUS — TREASURER
- MATTHEW WAMBUA — OUTGOING DIRECTOR
- RACHEL GROSSMAN — DIRECTOR
relationships · 30
Who they work with
- Ahmed Tigani, NYC HPD Government — Recipient of the Public Service Award at the 2025 Building Foundations Together Gala.
- Alicka Ampry-Samuel Government — Honored with the Public Service Partner Award in recognition of contributions to community and economic development as HUD Regional Administrator for New York & New Jersey.
- Beechwood Homes Partner — Recognized with the Developer of the Year award at the 2024 Reaching New Heights Gala for contributions to affordable housing in New York City.
- Bryan Kelly & Gotham Organization Partner — Honored as Developer of the Year at the 2025 Building Foundations Together Gala.
- Christine Coletta & Hirschen Singer & Epstein LLP Partner — Legal and professional services partner recognized as Partner of the Year.
- Eli Weiss & Joy Construction Partner — Recognized as Partner of the Year at the 2022 All In For Housing Gala for contributions to affordable housing and community development.
- Gary Jacob Partner — Co-chair of the 2022 All In For Housing Gala and representative of Glenwood Management.
- JPMorgan Chase & Co. Partner — Recognized as Partner of the Year at the 2023 Welcome Home Gala for supporting the organization's work.
- Jess Cherepski, Merchants Capital Funder — Gala Co-Chair and sponsor of the 2025 Building Foundations Together Gala.
- Jess Cherepski, Merchants Capital Partner — Gala Co-Chair and financial partner supporting SHF's housing initiatives.
- John Valladares, Slate Property Group Partner — Gala Co-Chair and real estate development partner.
- John Valladares, Slate Property Group Partner — Gala Co-Chair for the 2025 Building Foundations Together Gala.
- Lisa Bova-Hiatt, New York City Housing Authority Government — Public sector leader honored for public service contributions to affordable housing.
- Merchants Capital Partner — Recognized as Partner of the Year at the 2024 Reaching New Heights Gala for contributions to affordable housing in New York City.
- Moshe McKie-Krisberg & Richman Housing Resources Partner — Honored as Partner of the Year at the 2025 Building Foundations Together Gala.
- New Settlement Partner — Collaborative community partner referenced in resident testimonials as part of an interconnected neighborhood network.
- New York City Government — Collaborates with NYC regulatory authorities on affordable housing lotteries and compliance.
- New York City Housing Development Corporation Government — Represented by Ruth Moreira, honored with the Public Service Award at the 2024 Reaching New Heights Gala for contributions to affordable housing in New York City.
- New York City School Construction Authority Partner — Partnered with Settlement Housing Fund to develop the New Settlement Community Campus.
- New York State Government — Works with NY State regulatory authorities on affordable housing lotteries and compliance.
- Rachel Fee, New York Housing Conference Partner — Recipient of the Carol Lamberg Visionary Award at the 2025 Building Foundations Together Gala.
- Rachel Grossman Partner — Co-chair of the 2022 All In For Housing Gala and representative of JPMorgan Chase & Co.
- Rachel Grossman, Community Preservation Corporation Partner — Gala Co-Chair and organizational partner in affordable housing preservation.
- Rachel Grossman, JPMorgan Chase & Co. Funder — Gala Co-Chair and sponsor of the 2025 Building Foundations Together Gala.
- Residents of our buildings Partner — Engaged in sharing success stories and experiences living in SHF housing through community outreach and storytelling initiatives.
- Robert Francis Goldrich Partner — Recipient of the Carol Lamberg Visionary Award for leadership and service as former Settlement Housing Fund Board Member and President & CFO of the Leon Levy Foundation.
- Vanessa L. Gibson, Bronx Borough President Government — Elected official honored with Visionary Award for leadership in housing and community development.
- Yarojin Robinson & Gilbane Partner — Developer partner recognized as Developer of the Year for contributions to affordable housing work.
- co-developers Partner — Collaborates with co-developers on affordable housing projects.
- service providers Partner — Partners with service providers to support affordable housing and community services.
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Cross-Sector Partnership Modelmethodology: cross_sector_partnershipBy partnering with city agencies, service providers, and co-developers, we expand the reach and impact of affordable housing and supportive services because collaboration leverages shared resources, expertise, and networks to serve more households effectively.
- Housing-First with Permanent Supportmethodology: housing_firstBy enabling households experiencing homelessness to access permanent housing without preconditions and pairing it with supportive services, we produce housing retention and recovery because stable housing is foundational to engaging with health, employment, and social services.
- Integrated Housing and Services Modelmethodology: integrated_housing_and_servicesBy combining affordable housing with on-site or closely linked supportive services, education, employment resources, and wellness programs, we produce long-term housing stability and improved resident well-being because addressing social determinants of health and economic opportunity reduces recidivism into homelessness and strengthens communities.
- Neighborhood-Based Community Integrationmethodology: neighborhood_integrationBy situating housing in neighborhoods with concentrated assets and established partnerships, we enhance economic mobility and community belonging because proximity to education, jobs, and wellness programs increases resident access and participation.