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RESTORED HOMES HOUSING DEVELOPMENT FUND CORPORATION
NEW YORK, NY · EIN 203853610 · Form 990 · FY2024 · NTEE L11 · Housing & Shelter · Medium ($1M-$10M)
revenue
$1.3M
expenses
$4.3M
net assets
$-5.1M
employees
0
volunteers
8
program ratio
87%
mission · from form 990

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PRESERVING AND CREATING, ON A NONPROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. IN ADDITION TO PROMOTING AFFORDABLE HOUSING OPPORTUNITIES,IT SEEKS TO PREVENT AND ELIMINATE BLIGHT AND FOSTER THE STABILIZATION OF COMMUNITIES THROUGHOUT NEW YORK CITY.

profile · synthesized from sources

Nonprofit housing developer focused on preserving and creating affordable housing for low- and moderate-income individuals in New York City. The organization works to prevent urban blight and promote community stabilization through real estate development and rehabilitation projects. Operates exclusively for charitable and community development purposes under its mission.

named programs · 1 · from sources

What they call their work

Affordable Housing Development
Preserves and creates nonprofit-owned housing projects for low- and moderate-income residents through acquisition, rehabilitation, and new construction in New York City
activities · 2 groups

What they do

  • Neighborhood Revitalization Initiatives 2 activities
    • Combats community blight in New York City
      Implements anti-blight initiatives to prevent and eliminate physical deterioration in neighborhoods across New York City.
    • Promotes community stabilization through housing and neighborhood improvement
      Advances long-term community stability by integrating affordable housing development with anti-blight efforts in New York City neighborhoods.
  • Affordable Housing Development and Management 1 activity
    • Develops and preserves affordable housing for low- and moderate-income individuals
      Creates and maintains affordable housing projects in New York City on a nonprofit basis, targeting low- and moderate-income households.
financials · form 990 · fy2024
revenue
Total revenue$1.30M
Contributions & grants$210K16%
Program service revenue$679K52%
Investment income$408K31%
Other revenue$0
expenses
Total expenses$4.34M
Program expenses87%
Admin / overhead13%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$16.16M
Cash$13.80M
Investments$0
Liabilities$21.24M
Net assets$-5.08M
Liquid reserves38.2 mo
5 years on record · 2020–2024 · YoY revenue -6.8%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 1
NameTitleHours/wkCompensation
SALVATORE D'AVOLA ASSISTANT SECRETARY 2 $301K
board members · 8
  • ANNETTA SEECHARRAN — DIRECTOR
  • ARTURO SUAREZ — TREASURER
  • BRIAN SEGEL — PRESIDENT
  • CHRISTIE PEALE — DIRECTOR
  • JANE SILVERMAN — DIRECTOR
  • NICOLAS LEMBO — VICE PRESIDENT
  • TONYA ORES — DIRECTOR
  • VICTORIA ROWE BARRECA — SECRETARY
strategies · 2

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.

  • Affordable Housing Development for Low-Income Populations
    methodology: affordable-housing_development
    By developing and preserving affordable housing projects on a nonprofit basis, we produce stable and accessible housing for low- and moderate-income individuals, because permanent affordability reduces displacement and supports long-term community integration.
  • Community Stabilization through Blight Remediation
    methodology: community_stabilization_through_blight_remediation
    By eliminating blight and linking it to broader community stabilization initiatives, we produce improved neighborhood conditions and resident well-being, because physical environment improvements catalyze social and economic reinvestment.