Nonprofit · EIN 11-1187480
PHIPPS HOUSES
Tax-exempt · NEW YORK, NY 10010
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $110,928,466 | $18,959,721 | $91,968,745 | $994,102,835 | $21,962,995 | $972,139,840 |
| December 31, 2023 | 990 | $87,375,863 | $18,319,961 | $69,055,902 | $862,210,018 | $27,838,134 | $834,371,884 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $25,294,386
- Program service revenue
- $41,286,080
- Investment income
- $34,216,715
- Net gain from sales of assets
- $1,832,487
- Other revenue
- $10,131,285
Expenses
- Grants and similar amounts paid
- $217,113
- Compensation of officers, directors and key employees
- $2,877,809
- Other salaries and wages
- $4,486,065
- Salaries, compensation and benefits (total)
- $8,053,826
- Professional fundraising fees
- $0
- Legal fees
- $208,665
- Accounting fees
- $36,443
- Occupancy
- $4,830,177
- Travel
- $24,259
- Depreciation
- $1,393,102
- Program services (functional)
- $8,535,357
- Management and general (functional)
- $10,424,364
Balance sheet and other
- Total assets, start of year
- $862,210,018
- Total assets, end of year
- $994,102,835
- Total liabilities, end of year
- $21,962,995
- Net assets, end of year
- $972,139,840
- Land, buildings and equipment
- $35,159,189
- Publicly traded securities
- $213,303,537
- Net assets without donor restrictions
- $972,139,840
- Gross receipts
- $181,382,398
- Employees
- 27
- Volunteers
- 17
- Year formed
- 1905
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ADAM WEINSTEIN | PRESIDENT/CEO Officer | 30 | $863,534 | $0 | $180,441 |
| JAMES ROBERT PIGOTT JR | VICE PRESIDENT AND SECRETA Officer | 30 | $366,981 | $0 | $87,569 |
| COLLEEN MCAULIFFE | HUMAN RESOURCES DIRECTOR Key employee | 15 | $0 | $332,600 | $71,366 |
| MICHAEL WADMAN | VP PROPERTY DEVELOPMENT Officer | 30 | $321,134 | $0 | $59,437 |
| LUKEMAN OGUNYINKA | CFO/TREASURER Officer | 30 | $357,241 | $0 | $9,964 |
| CATHY PENNINGTON | VICE PRESIDENT Officer | 15 | $0 | $351,917 | $8,119 |
| ANDRE WHITE | VICE PRESIDENT Officer | 1 | $0 | $336,121 | $10,833 |
| MATTHEW WASHINGTON | CHIEF OF STAFF Officer | 40 | $294,304 | $0 | $25,744 |
| MATTHEW KELLY | OUTGOING VP PROPERTY DEVELOPMENT Officer | 30 | $241,381 | $0 | $70,079 |
| JOHN STEVEN LOVCI | VP CAPITAL PROJECTS & PRECONSTRUCTION Highest-paid employee | 40 | $252,292 | $0 | $23,473 |
| GENNADIY TRAKHTMAN | DIRECTOR OF MIS Key employee | 15 | $0 | $197,882 | $46,819 |
| CARMELO TORRES | ASSISTANT DIRECTOR Highest-paid employee | 40 | $150,795 | $0 | $38,606 |
| ABBE BOROK | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| ANDREW SIDAMON-ERISTOFF | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| BORIS GUTIN | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DARCY STACOM | TRUSTEE Trustee or director | 1 | $0 |
| DITA AMORY | TRUSTEE Trustee or director | 1 | $0 |
| DONALD NOTICE | TRUSTEE Trustee or director | 1 | $0 |
| DR FELIX MATOS-RODRIGUEZ | TRUSTEE Trustee or director | 1 | $0 |
| DR OXIRIS BARBOT | TRUSTEE Trustee or director | 1 | $0 |
| JAY NEVELOFF | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| PETER DUNCAN | TRUSTEE Trustee or director | 1 | $0 |
| RICHARD KESSLER | TRUSTEE Trustee or director | 1 | $0 |
| RONAY MENSCHEL | TRUSTEE Trustee or director | 3 | $0 |
| SCOTT POWELL | TRUSTEE Trustee or director | 1 | $0 |
| SEAN MCSWEENY | TRUSTEE Trustee or director | 1 | $0 |
| SERAY INCOGLU | TRUSTEE Trustee or director | 1 | $0 |
| THOMAS CRAIG | TRUSTEE Trustee or director | 1 | $0 |
| THOMAS OSTERMAN | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 27 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ADAM WEINSTEIN | PRESIDENT/CEO Officer | 30 | $818,137 | $0 | $172,076 |
| JAMES ROBERT PIGOTT JR | VICE PRESIDENT AND SECRETARY Officer | 30 | $350,387 | $0 | $79,704 |
| MATTHEW KELLY | VP PROPERTY DEVELOPMENT Officer | 30 | $350,240 | $0 | $73,253 |
| COLLEEN MCAULIFFE | HUMAN RESOURCES DIRECTOR Key employee | 15 | $0 | $320,295 | $66,357 |
| MICHAEL WADMAN | VP PROPERTY DEVELOPMENT Officer | 30 | $302,790 | $0 | $58,015 |
| CATHY PENNINGTON | VICE PRESIDENT Officer | 15 | $0 | $334,655 | $7,419 |
| LUKEMAN OGUNYINKA | CFO/TREASURER Officer | 30 | $274,320 | $0 | $62,804 |
| ANDRE WHITE | VICE PRESIDENT Officer | 1 | $321,351 | $0 | $7,935 |
| MATTHEW WASHINGTON | CHIEF OF STAFF Officer | 40 | $273,432 | $0 | $16,299 |
| CARMELO TORRES | ASSISTANT DIRECTOR Highest-paid employee | 40 | $148,698 | $0 | $38,509 |
| ANDREW SIDAMON-ERISTOFF | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| BORIS GUTIN | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| DARCY STACOM | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| DITA AMORY | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| DONALD NOTICE | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| DR FELIX MATOS-RODRIGUEZ | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| DR OXIRIS BARBOT | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| JAY NEVELOFF | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 | $0 |
| PETER DUNCAN | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| RICHARD KESSLER | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT E SELSAM | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| RONAY MENSCHEL | TRUSTEE Trustee or director | 3 | $0 | $0 | $0 |
| SCOTT POWELL | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| SERAY INCOGLU | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS CRAIG | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS OSTERMAN | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| VICTORIA GUEST | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 902 BROADWAY 13TH FLOOR 902 BROADWA, NEW YORK, NY 10010-6033
- In care of
- % CARLOS TAVAREZ
- Mailing address (990-N for 2025)
- 257 Park Avenue S, New York NY 10010
- Principal officer (990 for 2024)
- ADAM WEINSTEIN, 257 PARK AVENUE SOUTH 12TH FLOOR, NEW YORK, NY 10010
- Principal officer (990-N for 2025)
- Adam Weinstein, 257 Park Avenue S, New York NY 10010
- Signed the 990
- LUKEMAN OGUNYINKA, TREASURER
- Phone
- (212) 243-9090
- Website
- WWW.PHIPPSNY.ORG
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
PHIPPS HOUSES WAS FOUNDED BY HENRY PHIPPS IN 1905 TO PROVIDE AFFORDABLE AND WELL-DESIGNED HOUSING FOR WORKING CLASS NEW YORKERS. PHIPPS HOUSES, A NOT-FOR-PROFIT CORPORATION, IS NEW YORK CITY'S OLDEST AND LARGEST NOT-FOR-PROFIT DEVELOPER, SPONSOR (CONT. ON SCHEDULE O) AND OWNER OF HOUSING FOR LOW AND MODERATE-INCOME FAMILIES. THE MISSION OF PHIPPS HOUSES IS THE CREATION OF ENDURING COMMUNITIES FOR SUCH FAMILIES, THROUGH HOUSING DEVELOPMENT, RELATED PROPERTY MANAGEMENT AND SOCIAL SERVICES.
Program accomplishments
- TO PROVIDE, PROMOTE AND DEVELOP AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME RESIDENTS.Expenses $8,535,357 · grants $217,113 · revenue $51,417,365
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-N on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-N on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-N on file |
IRS record
- EIN
- 11-1187480
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1948
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Housing and shelter (L20)
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-N for 2025 Officer: Adam Weinstein | December 31, 2025 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2024 Officer: Adam Weinstein | December 31, 2024 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | December 2024 | $110,928,466 | $18,959,721 | $994,102,835 | XML |
| 990-N for 2023 Officer: Adam Weinstein | December 31, 2023 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990 | December 2023 | $87,375,863 | $18,319,961 | $862,210,018 | XML |
| 990 | December 2022 | $101,156,342 | $21,095,910 | $827,242,266 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 11-1187480).
Questions about PHIPPS HOUSES
- What is the EIN of PHIPPS HOUSES?
- The employer identification number (EIN) of PHIPPS HOUSES is 11-1187480.
- Is PHIPPS HOUSES tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1948.
- Are donations to PHIPPS HOUSES tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PHIPPS HOUSES file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of PHIPPS HOUSES due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PHIPPS HOUSES last file with the IRS?
- The latest return in the IRS public files is the 990-N for 2025 for the year ended December 31, 2025.
- Who is the principal officer of PHIPPS HOUSES?
- The 990 for the year ended December 31, 2024 names ADAM WEINSTEIN.
- Who are the officers and directors of PHIPPS HOUSES?
- The 990 for the year ended December 31, 2024 lists 29 people; 8 received compensation from the organization, the highest $863,534 (ADAM WEINSTEIN, PRESIDENT/CEO).
- How much revenue does PHIPPS HOUSES have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $110,928,466, expenses of $18,959,721 and total assets of $994,102,835 at year end.
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