Phipps Houses
Only 45% goes to programs $0 to raise $100 Strong reserves Growing revenue
Phipps Houses is a 501(c)(3) organization based in New York, New York, registered in 1948, with $110,928,466 in FY2024 revenue. CharityIndex grades it B+, and it directs about 45% of spending to programs.
902 Broadway 13th Floor 902 Broadwa, New York, NY, 10010 EIN 11-1187480 Since 1948
Revenue (FY2024)
$110.9M
▲ 27.0% vs prior year
Housing median: $408K
Expenses (FY2024)
$19.0M
Net assets
$972.1M
Employees
27
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
BProgram efficiency40% of the rating45% 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 Phipps Houses: 45% to programs · $0 to raise $100 earns a B on this criterion. See the exact thresholds →
B+Financial health25% of the rating615 mo reserves · +83% 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 Phipps Houses: 615 mo reserves · +83% margin earns a B+ on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Phipps Houses: 5 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 Phipps Houses: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To provide, promote and develop affordable housing for low and moderate income residents.
What they do
Cash contributions to phipps neighborhoods, inc., a not-for-profit affiliate classified under section 501(c)(3) of the internal revenue code, which provides educational and social services to residents of housing developments owned and/or sponsored by phipps houses and their communities.
Contact & location
- Address
- 902 Broadway 13th Floor 902 Broadwa, New York, NY, 10010
- City
- New York
- State
- New York
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $62.6M (FY2013) to $110.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $22.0MNet assets $972.1M
Operating margin
82.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$994.1M
Total liabilities
$22.0M
Net assets
$972.1M
Salaries & benefits
$8.1M
42% of expenses
Board members
17
17 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $110,928,466▲27.0% | $18,959,721▲3.5% | $972,139,840▲16.5% | $994,102,835▲15.3% | 990 |
| 2023 | $87,375,863▼13.6% | $18,319,961▼13.2% | $834,371,884▲5.8% | $862,210,018▲4.2% | 990 |
| 2022 | $101,156,342▲14.9% | $21,095,910▼1.9% | $788,943,583▲11.3% | $827,242,266▲9.6% | 990 |
| 2021 | $88,001,578▲10.4% | $21,514,926▲9.9% | $709,060,876▲11.2% | $754,776,508▲9.6% | 990 |
| 2020 | $79,703,796▼4.7% | $19,582,333▲9.0% | $637,706,906▲11.6% | $688,807,851▲10.3% | 990 |
| 2019 | $83,640,042▲80.6% | $17,972,706▲34.8% | $571,648,594▲20.4% | $624,489,745▲18.8% | 990 |
| 2018 | $46,318,158▼13.5% | $13,328,505▼17.9% | $474,838,499 | $525,804,145▲1.7% | 990 |
| 2017 | $53,548,072▼70.5% | $16,225,074▲34.7% | $474,937,800▲15.6% | $517,238,288▲14.2% | 990 |
| 2016 | $181,779,157▲228% | $12,043,928▼1.9% | $410,727,264▲76.3% | $452,931,845▲66.3% | 990 |
| 2015 | $55,352,818▲39.7% | $12,280,431▲8.4% | $232,982,798▲19.7% | $272,394,689▲15.4% | 990 |
| 2014 | $39,621,152▼36.7% | $11,330,481▲7.3% | $194,560,480▲3.9% | $236,035,243▲10.2% | 990 |
| 2013 | $62,609,208 | $10,554,811▲6.1% | $187,270,590▲48.3% | $214,117,945▲36.6% | 990 |
| 2012 | — | $9,948,022▲1.0% | $126,256,729▲19.1% | $156,804,509▲15.5% | 990 |
| 2011 | — | $9,851,234 | $106,026,176 | $135,776,586 | 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 (FY2024)
Highest-paid: Adam Weinstein — $863,534 (4.55% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Adam Weinstein | President/ceo | 30 | $863,534 |
| James Robert Pigott Jr | Vice President and Secreta | 30 | $366,981 |
| Lukeman Ogunyinka | Cfo/treasurer | 30 | $357,241 |
| Michael Wadman | Vp Property Development | 30 | $321,134 |
| Matthew Washington | Chief of Staff | 40 | $294,304 |
| John Steven Lovci | Vp Capital Projects & Preconstruction | 40 | $252,292 |
| Matthew Kelly | Outgoing Vp Property Development | 30 | $241,381 |
| Carmelo Torres | Assistant Director | 40 | $150,795 |
| Abbe Borok | Trustee | 1 | — |
| Andre White | Vice President | 1 | — |
| Andrew Sidamon-eristoff | Trustee | 1 | — |
| Boris Gutin | Trustee | 1 | — |
| Cathy Pennington | Vice President | 15 | — |
| Colleen Mcauliffe | Human Resources Director | 15 | — |
| Darcy Stacom | Trustee | 1 | — |
| Dita Amory | Trustee | 1 | — |
| Donald Notice | Trustee | 1 | — |
| Dr Felix Matos-rodriguez | Trustee | 1 | — |
| Dr Oxiris Barbot | Trustee | 1 | — |
| Gennadiy Trakhtman | Director of Mis | 15 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Dattner Architects | Architect | $1,739,136 |
| Akrf Inc | Environmental Remediation | $1,146,081 |
| V Cloud Painting and Contracting Corp | Contractor | $735,308 |
| Cornerstone Group | Real Estate Broker | $360,000 |
| Magnusson Architecture & Planning PC | Architect | $342,494 |
Grants made · $171K in FY2024
6 grants totaling $171K in FY2024. All grants made by Phipps Houses →
| Recipient | Purpose | Amount |
|---|---|---|
| Phipps Neighborhoods Inc | To support the organizations mission. | $117,786 |
| Citizens Housing and Planning Council of New York Inc | 2024 luncheon sponsorship | $15,000 |
| New York Housing Conference Inc | Nyhc 51st annual awards lunch | $15,000 |
| The Bronx Defenders | Annual gala sponsorship | $10,000 |
| New York University | Nyu furman center advisory board annual contribution | $7,500 |
| American Institute of Architects | Honors and awards luncheon 2024 | $5,500 |
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Frequently asked questions
- Is Phipps Houses a legitimate nonprofit?
- Yes. Phipps Houses is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 11-1187480, based in New York, New York. Donations are tax-deductible.
- What is Phipps Houses's EIN?
- Phipps Houses's Employer Identification Number (EIN) is 11-1187480.
- How much revenue does Phipps Houses report?
- Phipps Houses reported $110,928,466 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Phipps Houses's spending goes to programs?
- Phipps Houses spends about 45% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Phipps Houses have?
- CharityIndex grades Phipps Houses B+, based on program efficiency and fundraising cost.
- How much does Phipps Houses's highest-paid employee make?
- The highest reported compensation on Phipps Houses's latest Form 990 is $863,534, paid to Adam Weinstein (President/ceo).
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Data for Phipps Houses (EIN 11-1187480) 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.