Breaking Ground II Housing Development Fund Corporation
Breaking Ground II Housing Development Fund Corporation reported $10.3 million in revenue and $2.1 million in expenses for calendar year 2024. Of every $100 it spent, $95.84 went to program services, $4.16 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 102.8% of the total. The highest compensation it reported for one person was $656,013 (PRESIDENT & CEO). Revenue fell 21% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $2.1MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $10MInvestment income was negative: −$851K. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 95.8% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 4.2% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 102.8% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $656,013 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 31.73% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 0 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 615.8 | 10.0 |
| Independent voting board members Part VI 1a–1b | 2 of 5 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseBreaking Ground ii hdfc's ("bg ii") primary exempt purpose is to own, rehabilitate, manage, maintain, and operate housing and supportive services for low income and formerly homeless tenants. Bg ii's primary residence is the prince george in manhattan. Built in 1904, the prince george was once one of new york city's premier hotels. After many years of decline and neglect, it was rehabilitated by Breaking Ground and reopened in 1999 to provide 416 units of affordable housing for low-income and formerly homeless adults and persons living with HIV/AIDS. The prince george is now listed on the…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 5.92 hrs/week | $0 | $641,542 | $14,471 | $656,013 |
| CFO Officer, 5.92 hrs/week | $0 | $365,675 | $50,231 | $415,906 |
| VICE PRESIDENT Director/trustee, officer, 8.43 hrs/week | $0 | $333,921 | $50,111 | $384,032 |
| SECRETARY Director/trustee, officer, 8.87 hrs/week | $0 | $142,608 | $18,423 | $161,031 |
0 people received more than $100,000 in reportable compensation from Breaking Ground II Housing Development Fund Corporation (Part VII, line 2).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b5 · 2 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
Correct a figure or respond
Every number above is copied from Breaking Ground II Housing Development Fund Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Breaking Ground II Housing Development Fund Corporation, you can publish a response that is linked from this page.
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Of every $100 Breaking Ground II Housing Development Fund Corporation spent in 2024, $95.84 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Breaking Ground II Housing Development Fund Corporation's spending goes to programs?
In calendar year 2024, Breaking Ground II Housing Development Fund Corporation reported that 95.8% of its $2.1 million in expenses went to program services, 4.2% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Breaking Ground II Housing Development Fund Corporation pay its top executive?
The largest total compensation Breaking Ground II Housing Development Fund Corporation reported for one person in calendar year 2024 was $656,013, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Breaking Ground II Housing Development Fund Corporation get its money?
Of $10.3 million in revenue in calendar year 2024, 0.0% came from contributions and grants and 102.8% from program service revenue (Form 990, Part VIII).
Is Breaking Ground II Housing Development Fund Corporation a registered charity?
The IRS lists EIN 13-3846708 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202523119349302187 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202413119349302756 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313109349301786 · read the filing
- 2021: Form 990 for calendar year 2021, object 202243089349300104 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103149349307200 · read the filing
- 2019: Form 990 for calendar year 2019, object 202012529349300051 · read the filing
All filings for EIN 13-3846708: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.