Philadelphia Housing Development Corporation
85% goes to programs $0 to raise $100 Growing revenue
Philadelphia Housing Development Corporation is a 501(c)(3) organization based in Philadelphia, Pennsylvania, registered in 1967, with $178,214,146 in FY2023 revenue. CharityIndex grades it A, and it directs about 85% of spending to programs.
1234 Market St 16th Floor, Philadelphia, PA, 19107 EIN 23-1664406 Since 1967
Revenue (FY2023)
$178.2M
▼ 0.8% vs prior year
Housing median: $408K
Expenses (FY2023)
$168.5M
Net assets
$25.7M
Employees
187
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating85% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Philadelphia Housing Development Corporation: 85% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
BFinancial health25% of the rating2 mo reserves · +5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Philadelphia Housing Development Corporation: 2 mo reserves · +5% margin earns a B on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Philadelphia Housing Development Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Philadelphia Housing Development Corporation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Provide affordable housing and financial assistance for home repairs targeted to low income residents.
What they do
Provide weatherization repairs/improvement assistance to low income homeowners.
Contact & location
- Address
- 1234 Market St 16th Floor, Philadelphia, PA, 19107
- City
- Philadelphia
- State
- Pennsylvania
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $22.6M (FY2013) to $178.2M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $121.6MNet assets $25.7M
Operating margin
5.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$147.3M
Total liabilities
$121.6M
Net assets
$25.7M
Salaries & benefits
$15.5M
9% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $178,214,146▼0.8% | $168,462,879▲4.7% | $25,704,758▲0.3% | $147,331,024▼8.4% | 990 |
| 2022 | $179,724,189▼27.3% | $160,966,535▼33.5% | $25,631,025▲273% | $160,832,920▲98.1% | 990 |
| 2021 | $247,066,079▲65.7% | $241,946,229▲75.5% | $6,874,300▲1054% | $81,202,288▲16.2% | 990 |
| 2020 | $149,141,044▲90.6% | $137,891,400▲78.0% | $595,656▲106% | $69,909,303▲42.9% | 990 |
| 2019 | $78,243,959▲80.9% | $77,469,469▲85.3% | -$10,653,988▲6.8% | $48,929,218▲448% | 990 |
| 2018 | $43,246,929▲16.9% | $41,807,275▲7.5% | -$11,428,478▲11.2% | $8,923,140▼6.8% | 990 |
| 2017 | $36,984,065▲40.2% | $38,904,742▲49.5% | -$12,868,132▼17.5% | $9,576,716▼8.2% | 990 |
| 2016 | $26,387,749▲10.8% | $26,017,323▲6.9% | -$10,947,455▲3.3% | $10,431,923▼6.7% | 990 |
| 2015 | $23,805,826▲12.3% | $24,346,232▲14.4% | -$11,317,881▼5.0% | $11,183,400▲4.3% | 990 |
| 2014 | $21,192,990▼6.3% | $21,278,142▼6.9% | -$10,777,475▼396% | $10,718,379▲26.2% | 990 |
| 2013 | $22,619,679 | $22,861,961▼9.0% | $3,640,980▼6.2% | $8,494,665▼11.4% | 990 |
| 2012 | — | $25,119,592▼19.8% | $3,883,262▼2.8% | $9,584,040▼6.6% | 990 |
| 2011 | — | $31,322,975▼19.3% | $3,993,122▲3.4% | $10,265,822▼15.5% | 990 |
| 2010 | — | $38,815,948▲5.5% | $3,861,185▲1.2% | $12,153,582▲1.9% | 990 |
| 2009 | — | $36,800,274 | $3,814,834 | $11,927,574 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: David Thomas — $176,996 (0.11% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David Thomas | Executive Vice President | 40 | $176,996 |
| Alex Braden | General Counsel | 40 | $165,107 |
| Joseph Ziccardi | Carpenter Superintendent | 40 | $150,772 |
| Darren Williams | Director of Finance | 40 | $147,736 |
| Susan Varghese | Deputy General Counsel | 40 | $139,884 |
| Nicholas Joseph Dema Jr | Vice President Design & Development | 40 | $127,798 |
| Donna L Trent | Vice President Human Resources | 40 | $127,228 |
| Cathy Califano | Vice Chair | 1 | — |
| Francis Vargas | Board Member | 1 | — |
| Jacquelyn Linton | Board Member | 1 | — |
| James Cuorato | Board Member | 1 | — |
| Karen Fegely | Board Member | 1 | — |
| Ken Weinstein | Chair | 5 | — |
| Nora Lichtash | Secretary | 1 | — |
| Sabrina Maynard | Treasurer | 1 | — |
| Vidhi Anderson | Board Member | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| 3200 Germantown Associates LP | Roofing Contractor | $2,794,179 |
| 801 Residence LP | Construction Contractor | $2,719,072 |
| Red Line Construction LLC | Plumbing Contractor | $1,937,969 |
| Mc Gillian & Donnelly LLP | Construction Contractor | $1,499,582 |
| Real Estate For Humanity LLC | Construction Contractor | $1,452,982 |
Grants received · $350K total
3 grants to Philadelphia Housing Development Corporation totaling $350K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| New Venture Fund | Environmental programs | 2024 | $125,000 |
| Temple University-of the Commonwealth System of Higher Educ | Research subcontract | 2021 | $182,249 |
| Temple University-of the Commonwealth System of Higher Educ | Research subcontract | 2020 | $43,172 |
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Frequently asked questions
- Is Philadelphia Housing Development Corporation a legitimate nonprofit?
- Yes. Philadelphia Housing Development Corporation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-1664406, based in Philadelphia, Pennsylvania. Donations are tax-deductible.
- What is Philadelphia Housing Development Corporation's EIN?
- Philadelphia Housing Development Corporation's Employer Identification Number (EIN) is 23-1664406.
- How much revenue does Philadelphia Housing Development Corporation report?
- Philadelphia Housing Development Corporation reported $178,214,146 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Philadelphia Housing Development Corporation's spending goes to programs?
- Philadelphia Housing Development Corporation spends about 85% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Philadelphia Housing Development Corporation have?
- CharityIndex grades Philadelphia Housing Development Corporation A, based on program efficiency and fundraising cost.
- How much does Philadelphia Housing Development Corporation's highest-paid employee make?
- The highest reported compensation on Philadelphia Housing Development Corporation's latest Form 990 is $176,996, paid to David Thomas (Executive Vice President).
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Data for Philadelphia Housing Development Corporation (EIN 23-1664406) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.