Civic Intelligence

Restoring Communities Housing

EIN 45-4252738 • 501(c)3 • New York, NY

Profile

The corporation is organized exclusively for the purpose of preserving and creating, on a non profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities, it seeks to prevent and eliminate blight and foster the stablization of communities throughout new york city.

150 Broadway 2101New York, NY 10038

www.neighborhoodrestore.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

56th percentile

0.10x

Higher debt load relative to assets than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.21x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

83rd percentile

35%

Higher net margin than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

83rd percentile

27%

Faster asset growth than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

13th percentile

-22%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,085,660

Up $233,225 (+27%) from 2023

Liabilities

Up

$110,932

Up $47,852 (+76%) from 2023

Net Assets

Up

$974,728

Up $185,373 (+23%) from 2023

Revenue

Down

$533,000

Down $149,500 (-22%) from 2023

Expenses

Down

$347,627

Down $576,432 (-62%) from 2023

Net Income

Up

$185,373

Up $426,932 (+177%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2013: $47,514Liabilities 2013: $104,213Net Assets 2013: -$56,6992013Assets 2014: $47,514Liabilities 2014: $106,735Net Assets 2014: -$59,2212014Assets 2015: $94,404Liabilities 2015: $115,673Net Assets 2015: -$21,2692015Assets 2016: $91,954Liabilities 2016: $177,2852016Assets 2017: $87,654Liabilities 2017: $258,738Net Assets 2017: -$171,0842017Assets 2018: $310,222Liabilities 2018: $225,576Net Assets 2018: $84,6462018Assets 2019: $531,070Liabilities 2019: $10,762Net Assets 2019: $520,3082019Assets 2020: $674,280Liabilities 2020: $31,798Net Assets 2020: $642,4822020Assets 2021: $870,836Liabilities 2021: $67,197Net Assets 2021: $803,6392021Assets 2022: $1,086,277Liabilities 2022: $55,363Net Assets 2022: $1,030,9142022Assets 2023: $852,435Liabilities 2023: $63,080Net Assets 2023: $789,3552023Assets 2024: $1,085,660Liabilities 2024: $110,932Net Assets 2024: $974,7282024

Highlighted filing

2024

Assets$1,085,660
Liabilities$110,932
Net Assets$974,728

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $47,514Expenses 2013: $20,353Net Income 2013: $27,1612013Expenses 2014: $2,5222014Revenue 2015: $82,500Expenses 2015: $44,548Net Income 2015: $37,9522015Revenue 2016: $0Expenses 2016: $64,062Net Income 2016: -$64,0622016Revenue 2017: $500Expenses 2017: $86,253Net Income 2017: -$85,7532017Revenue 2018: $642,000Expenses 2018: $386,270Net Income 2018: $255,7302018Revenue 2019: $549,500Expenses 2019: $113,838Net Income 2019: $435,6622019Revenue 2020: $248,500Expenses 2020: $126,326Net Income 2020: $122,1742020Revenue 2021: $323,336Expenses 2021: $162,179Net Income 2021: $161,1572021Revenue 2022: $2,883,500Expenses 2022: $2,656,225Net Income 2022: $227,2752022Revenue 2023: $682,500Expenses 2023: $924,059Net Income 2023: -$241,5592023Revenue 2024: $533,000Expenses 2024: $347,627Net Income 2024: $185,3732024

Highlighted filing

2024

Revenue$533,000
Expenses$347,627
Net Income$185,373

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 29, 2025
Return Version
2024v5.2
Gross Receipts
$533,000
Mission and Program Overview

Mission

The corporation is organized exclusively for the purpose of perserving and creating, on a non-profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities, it seeks to prevent and eliminate blight and foster the stablization of communities throughout nyc.

The corporation is organized exclusively for the purpose of perserving and creating, on a non-profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities, it seeks to prevent and eliminate blight and foster the stablization of communities throughout new york city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$852,435$1,085,660▲ $233,225
Total Assets$852,435$1,085,660▲ $233,225
Liabilities
Other Liabilities$42,404$77,999▲ $35,595
Accounts Payable and Accrued Expenses$20,676$32,933▲ $12,257
Total Liabilities$63,080$110,932▲ $47,852
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$789,355$974,728▲ $185,373
Total Net Assets Fund Balance$789,355$974,728▲ $185,373
Total Liabilities and Net Assets / Fund Balance$852,435$1,085,660▲ $233,225
Compensation and Service Providers

Board Members and Trustees

NameTitle
Harold ShultzPresident
Michael WadmanVice President
Xiomara PedrazaOutgoing Director
Richard PinnerAssistant Secretary
SALVATORE D'AVOLAAssistant Secretary
Tatiana PenaSecretary
Victoria BarrecaTreasuter
Revenue and Support

Revenue Composition

Contributions and Grants
$32,500
Program Service Revenue
$500,500
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$185,373

Audited Revenue Reconciliation

Revenue per Audited Statements
$533,000
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$533,000
Total Revenue per Form 990
$533,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$315,127
Grants and Similar Amounts Paid$32,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$162,523$35,514-$198,037
Fees for Services Accounting-$39,908-$39,908
Grants to Domestic Individuals$32,500--$32,500
Occupancy$26,582$5,808-$32,390
Fees for Services Legal-$15,025-$15,025
Office Expenses$8,376$1,830-$10,206
Fees for Services Lobbying-$7,635-$7,635
Fees for Services Other-$7,089-$7,089
Insurance$3,970$867-$4,837
Total Functional Expenses$233,951$113,676$0$347,627

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$347,627
Total Expenses per Audited Statements$347,627
Total Expenses per Form 990$347,627
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Neighborhood Restore$77,999
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 and appropriate schedules, as required, is prepared by outside accountants and reviewed internally by management. The final draft of the form 990 is made available to the board prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

The corporation follows the procedures outlined in the conflict of interest policy statement.

Form 990, Part VI, Section C, Line 19

Documents are made available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Restoring Communities Housing
EIN
45-4252738
Phone
2125848981
Address
150 BROADWAY 2101, NEW YORK, NY 10038

Signing Officer

Name
MR SALVATORE D'AVOLA
Title
Assistant Secretary
Phone
2125848981
Signed
2025-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
MR SALVATORE D'AVOLA
Formed
2019
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
5

Preparer

Firm
Cohnreznick Advisory LLC
Address
14 SYLVAN WAY, PARSIPPANY, NJ 07054-3801
Preparer
Laura Kielczewski
Phone
9732283500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization is a section 501(c)(3) not-for-profit organization exempt from federal income taxation and has been classified as an organization that is not a private foundation under section 509(a)(3) of the internal revenue code. The organization is also exempt from new york state and new york city income taxes. As of december 31, 2024 the organization is no longer subject to income tax examinations by the united states federal and new york state authorities for any tax years before the tax year ended december 31, 2021. The tax returns for the years ended december 31, 2021 through december 31, 2024 are still subject to potential audit by the internal revenue service. Management has analyzed the tax positions taken by the organization and has concluded that, as of december 31, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1LOCAL INITIATIVES SUPPORT CORPORATION
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION AND ITS AFFILIATE ENTITIES HAVE A FIRM ON RETAINER THAT PROVIDES GOVERNMENT RELATION ACTIVITIES ASSOCIATED WITH THE ORGANIZATIONS' AFFORDABLE HOUSING WORK.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A SECTION 501(C)(3) NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXATION AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS ALSO EXEMPT FROM NEW YORK STATE AND NEW YORK CITY INCOME TAXES. AS OF DECEMBER 31, 2024 THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE UNITED STATES FEDERAL AND NEW YORK STATE AUTHORITIES FOR ANY TAX YEARS BEFORE THE TAX YEAR ENDED DECEMBER 31, 2021. THE TAX RETURNS FOR THE YEARS ENDED DECEMBER 31, 2021 THROUGH DECEMBER 31, 2024 ARE STILL SUBJECT TO POTENTIAL AUDIT BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES GRANTS TO INCOME ELIGIBLE HOMEBUYERS PURCHASING AN APARTMENT IN A LOW-INCOME COOPERATIVE.
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0COMPENSATION IS DETERMNED BY NEIGHBORHOOD RESTORE HOUSING, A RELATED ORGANIZATION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 AND APPROPRIATE SCHEDULES, AS REQUIRED, IS PREPARED BY OUTSIDE ACCOUNTANTS AND REVIEWED INTERNALLY BY MANAGEMENT. THE FINAL DRAFT OF THE FORM 990 IS MADE AVAILABLE TO THE BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION FOLLOWS THE PROCEDURES OUTLINED IN THE CONFLICT OF INTEREST POLICY STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2NEIGHBORHOOD RENEWAL HDFC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3NEIGHBORHOOD RESTORE HDFC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4PRESERVING CITY NEIGHBORHOODS HDFC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5PROJECT REBUILD INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6RESTORED HOMES HDFC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt7RESTORING URBAN NEIGHBORHOODS LLC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0AFF. HOUSING

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