Washingtonville Housing Alliance · Strong support from our funders and donors has brought...
Transcript of Washingtonville Housing Alliance · Strong support from our funders and donors has brought...
Washingtonville Housing Alliance
Fiscal Year Ending September 30, 2010
Mission Statement
The Washingtonville Housing Alliance (WHA), a locally sponsored not-for-profit corporation, seeks
to preserve and enhance the quality of life in the Village of Mamaroneck and the surrounding area.
WHA constructs new housing and improves existing housing for low and moderate income residents
and undertakes other supportive activities designed to sustain communities that are culturally
diverse, multi-generational and of mixed income.
The Washingtonville Housing Alliance was formed in 1980 to improve the housing conditions of low
and moderate-income residents in the Mamaroneck area. WHA is chartered by the State of New
York as a Neighborhood Preservation Company and is a 501(c)3 not-for-profit corporation.
2011
Page 1
Message from the
Board Chair 1
Why Affordable
Housing? 2
WHA Spring Fever
Annual Dinner 3
Properties owned
and managed by
WHA
4
WHA Programs
and History 5
Treasurer’s Report 5
Executive
Director’s Report 6
Audited financial
data FY ending
9/30/09
7
Audited financial
data FY ending
9/30/10
8
2010-2011 Donors
and Supporters 9
2010-2011 Donors
and Supporters 10
Who we are 11
How to contact us 11
TABLE OF CONTENTS
Washingtonville Housing Alliance ANNUAL REPORT 2011
Message from the Board Chair
I am happy to welcome you as Washingtonville Housing Alliance’s new Board Chairman.
It is a privilege to come back to WHA as its chair. I was the chair of the Washingtonville
Neighborhood Program in the 1980s and I was involved with WHA at its formation. I am
fortunate to follow Beverly Brewer-Villa as chair. Beverly has been a model of
community-based leadership with a long history and knowledge of the Washingtonville
neighborhood. We are also fortunate to have been joined on the board by Monsignor
James White, the pastor of St. Vito’s Church and Ed Pomeranz, an experienced attorney.
They bring a depth of professional and community experience to WHA. They are both
residents of Mamaroneck Village.
While the recession of 2007 has technically been over since June 2009, it doesn’t feel like
it, especially with the recent declines in the stock market, slow job growth, and reduced
levels of government funding. But in the midst of the recession, WHA remains
productive, owing much to our Board, Executive Director and a talented and
hard-working staff. We can point to a number of results with pride. Over the last three
years, WHA invested over $132,000 in property upgrades in three of our buildings. All of
these units are now in excellent shape. As of June 1st, WHA has taken over management
of three two-family buildings from ICARE, with whom we already co-own three
buildings. We have applied for grants to make improvements to these properties to bring
these properties to the same level as our other units.
WHA is the community sponsor of Mamaroneck Towers (our senior housing
development on Halstead Avenue). We will be working with the management on a
refinancing proposal with HUD to significantly update the building. WHA has also
applied for recertification by HUD as a “Community Housing Development
Organization” (CHODO). This certification allows us to apply for HOME housing funds
on a priority basis and to partner with for profit developers in the creation of new
affordable housing.
Bob Galvin, AICP, Board Chair
Washingtonville Housing Alliance ANNUAL REPORT 2011
Why Affordable Housing?
Affordable Housing means Neighborhood Renewal
By rehabilitating apartment buildings, by helping people to renovate their homes and by looking after
our own buildings, we build the fabric of our neighborhoods. By taking down derelict buildings and
putting up high quality new buildings, we enhance the neighborhood.
Affordable Housing means Stable Homes
When families move into affordable housing they know that they can afford the rent. Therefore they are
able to focus their attention on their kids, their health and their education. An affordable apartment in a
good school district is the first step to a stable, healthy family. An affordable apartment is the
cornerstone of a comfortable retirement.
Affordable Housing means Stable Education
With the rent under control the kids can go to school and look forward to graduating. Graduation leads
to the possibility of college. College is the surest route out of poverty.
Affordable Housing means Improved Family Health
Well-maintained buildings and apartments eliminate the risk of lead poisoning, cut down the incidence
of childhood asthma and allow proper hygiene. For seniors, it means a clean safe building with reliable
heat and hot water.
Affordable Housing means Housing Pride
A well maintained home is a home that children can invite their playmates to and that tenants can invite
their families and friends to.
Affordable Housing means Stewardship
WHA operates its buildings on 20, 30, 40 and 50 year affordability covenants, depending on how the
initial financing is structured. We plan for the upkeep of the buildings for the long term.
Affordable Housing means Rational Housing Prices
By contrast to the housing bubble of the past decade, our affordable housing projects are well
structured, well capitalized and financially solvent. WHA provides a core of long-term housing
affordability to the high priced Larchmont-Mamaroneck housing market.
Affordable Housing means Community
WHA has a small staff of six people, but we are so much more than this. WHA is its tenants – 100
strong, its board - 17 in number, its committee members, its volunteers, its donors : a 500 strong
community supporting the creation and maintenance of affordable homes.
Thank you for your support.
Jeremy N. Ingpen
Executive Director
Page 2
Washingtonville Housing Alliance ANNUAL REPORT 2011
Washingtonville Housing Alliance
Spring Fever Annual Dinner
Over one hundred and fifty supporters and local residents gathered on May 19th, 2011 to celebrate
Washingtonville Housing Alliance’s Spring Fever Annual Dinner and to honor Valerie O’Keeffe,
Town of Mamaroneck Supervisor. The Spring Fever Annual Dinner was held at the Hampshire
Country Club. The fun started with an amazing performance by Reunion. The event was very
successful and raised approximately $27,000 to support Washingtonville Housing Alliance’s general
operations and programs.
Among the attendees were Mamaroneck Mayor Norman Rosenblum and State Legislator George
Latimer. Valerie O’Keeffe received a proclamation from Mayor Rosenblum declaring May 19, 2011 as
“Valerie O’Keeffe Day.”
Page 3
Photo Credit: Peter Grobe
Washingtonville Housing Alliance ANNUAL REPORT 2011 Page 4
136 Library Lane 11 Madison Street
726 Old White Plains Road
Properties owned and managed by Washingtonville Housing Alliance
230 Center Avenue
258-266 Waverly Avenue
725 Old White Plains Road
731Old White Plains Road
WHA also provides management services to 729 Prospect Avenue, 1110 Franklin Avenue and 2 Woodland Avenue.
Washingtonville Housing Alliance ANNUAL REPORT 2011
WHA Programs and History
Since our inception, Washingtonville Housing Alliance has constructed or rehabilitated 115 apartments
including 75 units of housing for seniors. In addition, we have developed fourteen homes for first time
buyers. We manage 46 affordable rental units. We offer other related services to assist area residents in
obtaining and retaining affordable and safe housing.
Our Client Services Department sees over 300 clients a year for housing related issues. We provide
emergency grants to local clients facing economic hardship or loss of housing due to fire, flood or family
breakdown. In 2010 Washingtonville Housing Alliance made over 48 emergency rent assistance and
crisis assistance grants for a total of $39,000 in grants.
The Senior Home Repair Program offers home repair grants in the range of $500-$2500 to assist low in-
come senior homeowners with minor home repairs. For more extensive home repairs we work closely
with the Westchester County Property Improvement Program. We have assisted over 60 homeowners
with repairs and renovations.
Washingtonville Fuel Corporation was established in 1980 by the Washingtonville Housing Alliance to
bring affordable heating oil to the Sound Shore region. Washingtonville Fuel Corporation’s volume of oil
sales allows us to negotiate a preferential oil price for our customers. We operate the Washingtonville
Fuel Corporation in partnership with Castle Oil of Harrison, NY, serving over 200 customers from
Larchmont, Mamaroneck, Rye, Harrison, New Rochelle, and throughout Westchester County.
Treasurer’s Report
The Corporation received a clean audit for the Fiscal Year ending 9/30/2010. The WHA Board heard the
report by the Corporation’s auditors, ODMD, represented by Steve Walters, Partner, at the June 2011
Board Meeting. Once adjustments are made for non-cash items the Corporation generated net income of
$17,478 on revenues of approximately $590,000. Overall, operating revenues were $55,200 or 9% lower
than the prior year, in particular due to a reduction in the State of New York Neighborhood Preservation
Program operating grant. Operating expenses were reduced by $44,338 or 5% from the prior year. The
audit is available for review at the WHA office.
In addition WHA manages 731 Old White Plains Road, of which we are 49% owner and six properties in
the I-Care portfolio. Revenues and expenses for these entities are not included in the above 2010 figures.
For the Fiscal Year ending 9/30/2010 WHA made nearly $39,000 in grants from restricted funds, as
follows:
Housing Crisis Fund $22,604 Senior Home Repair $ 583
ESG $ 3,152 VOM Emergency Fund $ 5,792
April 07 Flood Fund $ 145 United Way ARRA $ 4,102
Day Laborer Grant $ 2,600
This grant making activity is a very important part of WHA’s community impact. The very high level of
activity reflects the hardship experienced by the community in the recession of 2008-2010.
For the Fiscal Year ending 9/30/2011 WHA adopted a breakeven budget and closed the year with a slight
operating surplus, exceeding revenue targets and further reducing expenses.
Paul Turovsky, Treasurer
Page 5
Washingtonville Housing Alliance ANNUAL REPORT 2011
Executive Director’s Report
Strong support from our funders and donors has brought Washingtonville Housing Alliance through the
tough economic times of the past three years. Donor and local business support for our year end Annual
Campaign and May 2011 Annual Dinner was at record high levels, helping to offset the cutback in our
New York State Neighborhood Preservation Company grant and delays in funding from Westchester
County.
On the operating side, we have continued to make energy efficiency improvements, with air sealing,
insulation and boiler replacement completed at our oldest building, 725 Old White Plains Road, funded
by grants and the NYSERDA energy efficiency program. We have continued our program of rolling
apartment upgrades, with nine apartments in our portfolio receiving major upgrades. Only two
apartments remain in need of upgrade and updating.
These improvements result in an improved living environment for our tenants and financially sound
buildings – all of our buildings are now operating in the black and contributing to WHA’s financial
well-being.
In June WHA took over management of three additional two family buildings for I-Care, two in
Mamaroneck and one in Larchmont. This brings to total number of apartments managed to 46. We have
already begun renovating these buildings. We have completed the refit and upgrade of one of the
Larchmont apartments.
On the Special Funds side, we have continued our very active emergency assistance program. Over half
of these funds were raised through our Housing Crisis Fund appeal to local Places of Worship and from
a United Way Local Presence Grant. We thank our donors for their support for families in need. This
local support enabled WHA to continue making rent assistance grants when many other agencies in the
County had run out of funds.
We have a great staff team who have been together since 2007, joined in January of this year by Maria
Cruzet, our new bookkeeper. As her introduction to WHA, Maria chaperoned our auditors through a
clean audit for the fiscal year ending September 30, 2010.
Jeremy N. Ingpen, Executive Director
Page 6
Washingtonville Housing Alliance ANNUAL REPORT 2011 Page 7
Financial Data
Fiscal year ending September 30, 2009 (Including 726 OWP Apartments, LLC)
Revenues Expenses
Rental Income $ 328,397 Program Services $ 743,996
Grants and Donations $ 221,667 Administration $ 98,095
Events Income $ 11,255 Fundraising $ 14,165
Management fees $ 31,023
Interest and misc. income $ 3,706
Fuel Commission income $ 14,975
Other Income $ 35,965
Equity in joint venture ($ 2,423)
Total Revenue $ 644,665 Total Expenditures $ 856,257
Net Gain/Loss ($ 211,592)
Adjustments Loss allocated to
Minority Interest (726 OWP LLC) ($ 93,210)
Depreciation ($ 149,646)
Adjusted Gain/Loss $ 31,264
Balance Sheet
Assets Liabilities Cash & Equivalent $ 70,249 Accounts Payable and
Accrued Liabilities $ 70,081
Accounts Receivable $ 6,180 Other Current Liabilities $ 41,648
Pledges & Grants Receivable $ 25,217
Other Current Assets $ 27,515
Total Current Assets $ 131,997 Total Current Liabilities $ 111,729
Fixed Assets, net $3,142,724 Mortgages Payable $1,353,247
Other Assets $ 325,967 Other long-term debt $ 40,530
Other Liabilities $ 94,608
Total Liabilities $1,600,114
Minority interest $ 896,986
Net Assets
Unrestricted $ 918,791
Temporarily Restricted $ 52,108
Total Assets $3,600,688 Retained Earnings $ 132,689
Total Liabilities and
Net Assets $3,600,688
Our auditors have expressed an unqualified opinion on our financial statements. These financial statements
include associated notes that are essential to understanding the information presented herein. The full set of
financial statements, are available at our website, www.washingtonville.org, and a printed copy may be
obtained from WHA.
Washingtonville Housing Alliance ANNUAL REPORT 2011 Page 8
Financial Data
Fiscal year ending September 30, 2010 (Including 726 OWP Apartments, LLC)
Revenues Expenses
Rental Income $ 342,631 Program Services $ 716,888
Grants and Donations $ 165,666 Administration $ 87,026
Events Income $ 24,439 Fundraising $ 8,005
Management fees $ 42,576
Interest and misc. income $ 939
Fuel Commission income $ 19,249
Other Income $ 9,818
Equity in joint venture ($ 15,856)
Total Revenue $ 589,462 Total Expenditures $ 811,919
Net Gain/Loss ($ 222,457)
Adjustments Loss allocated to
Minority Interest (726 OWP LLC) ($ 95,499)
Depreciation ($ 144,436)
Adjusted Gain/Loss $ 17,478
Balance Sheet
Assets Liabilities Cash & Equivalent $ 49,168 Accounts Payable and
Accrued Liabilities $ 69,163
Accounts Receivable $ 6,300 Other Current Liabilities $ 60,593
Pledges & Grants Receivable $ 21,900
Other Current Assets $ 33,356
Total Current Assets $ 110,724 Total Current Liabilities $ 129,756
Fixed Assets, net $3,008,986 Mortgages Payable $1,346,459
Other Assets $ 296,844 Other long-term debt $ 50,140
Other Liabilities $ 162,140
Total Liabilities $1,638,437
Minority interest $ 801,487
Net Assets
Unrestricted $ 940,566
Temporarily Restricted $ 36,064
Total Assets $3,416,554 Total Liabilities and
Net Assets $3,416,554
Our auditors have expressed an unqualified opinion on our financial statements. These financial statements
include associated notes that are essential to understanding the information presented herein. The full set of
financial statements, are available at our website, www.washingtonville.org, and a printed copy may be
obtained from WHA.
Page 9 Washingtonville Housing Alliance ANNUAL REPORT 2011
2009-2010 Donors and Supporters
Henriette Lackner Abraham, M.D.
Cecilia Absher & David Katz
Ruth & Carl J. Alterman
Thomas R. & Susan C. Amlicke
David & Madeline Arnow
David M. & Caroline Bady
Stephen & Janet Bear
Warren Benton
Robert J. & Elinor S. Berlin
Karen Berman
Anna & Luigi Bianco
Guillermo Bilbao & Jennifer Geer
Diana Bilotto
Lee Hurley Bloom
Carol Blucher
Fred & Jeanette Bogart
Manya Bouteneff
Murray & Vivienne Brauman
Joel D. Brill
Janet Buchbinder
Ronald B. & Julie D. Carran
Jay & Carolyn Castelli
Susan Z. Cohen Ph.D & Robert H. Lipkins Ph.D.
Marshall Cohen & Dr. Ellen J. Brooks
Eve Cole & Harry First
Peter & Margaret Corbett
William & Celia Dentzer
Barry & Judith Dichter
Theodore D. & Janet S. Eisler
John T. & Martha H. Farris
Raymond & Jane Fastiggi
Elaine & Elliot Feiden
Nancy & Michael Feller
Jeffery & Sabrina Fiddelman
Asta Frandsen
Nancy M. Frieden, Ph.D
Robert & Camille Galvin
Eric & Eloise Gelman
Joseph & Louise Germano
Laurie & Stephen Girsky
John S. Gitlitz & Patricia M. Lee
Emily & Eugene Grant
David & Lisa Hellerstein
Robert & Ann Hiden
Lisa Hochman & Kevin Worth
Jeremy N. Ingpen
Detlef Joerss
Robert B. Katz
Debra M. Kenyon & Peter Hess
Richard Kenyon
Carolyn & Thomas Kohlberg
Alix M. & Rudolph Laager
Richard & Lynne Leahy
Amy Lefkof & Tim Mayopoulos
Steve & Melinda Lehman
Michael & Judith Lesch
Mark & Ellen Levy
Cheryl Lewy
Stephen A. & Constance E. Lieber
Theodor S. Liebmann
Mark D. Litt
Roberto & Leticia Lopez
Helen & Louis Lowenstein
Ruth B. Lowy
William & Yvonne D. Lumsden
Barbara & J. Robert Mann Jr.
Selma Markowitz
Nanette & Mark J. McNally
Michael & Sheryl McSherry
Amy & Bruce Meighan
Robert & Friedhilde Milburn
James & Rose Ann Minnerly
Alan Model
Robert Muffly & Carol Buckler
Douglas & Kathleen M. Munro
Diane & David Nelson
Valerie & John O'Keeffe
Donald & Alberta O’Neil
Ernest & Camille Odierna
Suzi & Martin Oppenheimer
Jane Orans
Lee Perlman & Lisa Riefberg
Robert M. Phillips
Frank D. & Nancy B. Pierson
David & Elin Poneman
Carla Volpe Porter
Kay Francis Richards
Craig Romanek
Shirley G. Romney
Roberta & Martin W. Ronan
Seth & Joan S. Rosen
Eric M. & Helen K. Rosenberg
Fred R. Rosenberg
Robert & Charlotte Roth
Robert & Elizabeth Saenger
Kathy Savolt & Len Aubrey
Theresa G. Schwartzman
Elliott Sclar & Nancy Aries
Lisa & Michael Senter
Joan & Lawrence Shapiro, M.D.
Kevin & Heidi Sickles
Carlton Solon Slater
Lloyd & Nancy Slackman
Frances & Robert Snedeker
Theodore & Mary Sobel
Joe & Rachel Spadaro
Susan K. Spencer
Julia H. Sperry
Yvonne D. Tropp
Linnet Tse & John Forsyth
Paul Turovsky & Monica Casey
Harold & Lois Weitzner
Ann Charlotte Wilson
Phyllis & Murray Wittner
Claire L. & Allan W. Wolkoff, M.D.
Alan & Roslyn G. Wood
Andrea C. & Robert Yizar
Corporations
306 Fayette Avenue Realty, Inc.
AAA Yankee Exterminating Pest Control, Inc.
Abracadabra Painting Co., Inc. & Avante Contract-
ing Corp.
Alice Bloom Communications
Benchmark Title Agency
Castle Oil Corporation
Chaim Cohen Plumbing & Heating, Inc.
Community Housing Management Corp.
Cosmo & Alex Deli and Boiano Bakery
Coxe & Graziano Funeral Home
Dreamworks Kitchens
Gemini Venetian Blinds
Hudson Valley Bank
LBC Landscaping
Matrix Security Systems Inc.
National Photocolor Corp.
Objects of Desire, Inc.
R.J.T. Motorists Services, Inc.
Robert’s Department Stores
SKCG Group, Inc.
Spadaro Real Estate
Stacey Braun Financial Services
Stillman Management, Inc.
Turkish Meze Restaurant
Wilder Balter Partners, Inc.
Washingtonville Housing Alliance ANNUAL REPORT 2011 Page 10
2009-2010 Donors and Supporters
Community Organizations
Community Housing Innovations
Grant Funders
New York State Division of Housing and Community Renewal
Westchester County Department of Planning– ESG
Westchester County Department of Planning– PIP
Foundations
Edward Handelman Fund
Eugenie S. Wright Foundation, Inc.
Goodman-Lipman Family Foundation
Hudson City Savings Bank Foundation
Parente/Risner Family Fund
Peoples United Bank Community Foundation
Philip & Lynn Straus Foundation, Inc.
Sandpiper Fund Inc.
The Robert J. & Marilyn E. Sperber Living Trust
Places of Worship
Chavurat Tikvah
Larchmont Avenue Church
Larchmont Temple
Mamaroneck United Methodist Church
St. John’s Episcopal Church
St. Thomas Episcopal Church
Westchester Reform Temple
Westchester Jewish Center
Notes
Washingtonville Housing Alliance
136 Library Lane
Mamaroneck, NY 10543
Robert Galvin, Chair
Carol Buckler, Vice Chair
Paul Turovsky, Treasurer
Helen K. Rosenberg, Secretary
Robert Barber, CPA
Anna Bianco
Beverly Brewer-Villa
Laura Cruzcolon
Dietrich Hollinger
Rev. James R. Jackson
Stephanie Meads
Runett Mitchell
Kathleen M. Munro
Clark Neuringer
Edward H. Pomeranz
Kathleen Spadaro
Nancy C. Wasserman
Msgr. James E. White
Jefferson D. Meighan, Esq. of Counsel
Washingtonville Housing Alliance
Staff
Jeremy N. Ingpen Rachel Spadaro
Executive Director Property Management
Angela Torero Erika Liriano
Program Associate Administrative Associate
Maria Cruzet Anner Garza
Bookkeeper Superintendent
Board of Directors
Visit us on the Web!
www.washingtonville.org
Office: 136 Library Lane, Mamaroneck
NY 10543
Phone: 914-698-4299
Fax: 914-698-7158
Email: [email protected]
Web: www.washingtonville.org
How to contact us
Non Profit Org.
U.S. Postage
PAID
White Plains, NY
Permit No. 4398
ADDRESS SERVICE REQUESTED