Breaking Ground Housing Development Fund Corporation EIN 11-3048002

Breaking Ground Housing Development Fund Corporation

EIN  11-3048002 Public charity (501(c)(3)) New York, NY Founded 1990
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/7/26 · see original filing: IRS
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Breaking Ground Housing Development Fund Corporation claims this page.

Know this organization? Claim it to add your story

Size
$10–100M
What they do
Provides affordable housing and support for homeless and vulnerable New Yorkers.
Leadership
Brenda Rosen · President & CEO
Money in and out
$35.6M revenue, $25.0M expenses
Bottom line
90% program efficiency

Provides affordable housing and support for homeless and vulnerable New Yorkers. For fiscal year 2024 it reported $35.6M in revenue, $25.0M in expenses, and $157.6M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$35.6M
Pt VIII · Ln 12
Total expenses
$25.0M
Pt IX · Ln 25
Net assets
$157.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $10.5M
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.07 Fundraising $0.03
Program efficiency
90%
of spending reaches programs▲ +3% vs prior filing year
Operating runway
3.6mo
months of highly liquid reserves at operating expense rate▲ +112% vs prior filing year
Surplus margin
+30%
revenue over expenses, this year▲ +132% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$35.6M
FY2024▲ +13%
Expenses
$25.0M
FY2024▼ -9%
Total assets
$220.9M
FY2024▲ +3%
Total liabilities
$63.3M
FY2024▼ -7%
Total revenue
$35.6M
Pt VIII · Ln 12
Total expenses
$25.0M
Pt IX · Ln 25
Net assets
$157.6M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$10.5M
Total assetsPt X · Ln 16$220.9M
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

3 program services account for $17.0M of program spending, described in the organization's own filed words · FY2024.
01

The times square is breaking ground's flagship supportive housing residence. Breaking ground transformed this building into the largest permanent supportive housing residence in the nation and contributed to the revitalization of the times square neighborhood as a whole while demonstrating a new approach to ending long-term urban…

$12.0Mprogram expense
02

Scatter site living provides clients with special needs an opportunity to live in the community in an apartment setting while still receiving supportive services. These programs assist individuals with their reintegration into the community and move toward greater stability and independence.

$3.5Mprogram expense
03

Park house and webster avenue park house is breaking ground's first affordable family project. It shares a large site with a companion building, webster avenue supportive residence, reclaiming a brownfield site.

$1.6Mprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBreaking Ground Housing Development Fund Corporation
EINHdr · item D11-3048002
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jwww.breakingground.org
Year of formationHdr · item L1990
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L80Z)
Ruling yearIRS BMFMar 1991

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Breaking Ground Housing Development Fund Corporation executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Contributions & grants$20.0M · 56%
Program service revenue$14.2M · 40%
Investment income$809K · 2%
Other revenue$513K · 1%
Contributions & grants56%$20.0M
Program service revenue40%$14.2M
Investment income2%$809K
Other revenue1%$513K
Total revenueLn 12$35.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.07 Fundraising $0.03
Program services90%$22.6M
Management & general7%$1.7M
Fundraising3%$738K
Total functional expensesLn 25$25.0M

Balance Sheet

Part X · end of year
CashLn 1$7.5M
Total assetsLn 16$220.9M
Total liabilitiesLn 26$63.3M
Total net assetsLn 32$157.6M
Months of cash on handcomputed3.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $7.5M · Operating expenses (Pt IX) $25.0M · Less non-cash grants $256K · Cash operating expenses/yr $24.8M
3.6 months
Where the money goes
Program services
Program services $22.6M · Total expenses $25.0M
90%
Management & General
Management & general $1.7M · Total expenses $25.0M
7%
Fundraising
Fundraising $738K · Total expenses $25.0M
3%
Cost to raise $1
Fundraising expense (3-yr avg) $1.0M · Solicited contributions (3-yr avg) $17.4M
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $20.0M · Total revenue $35.6M
56%
Government reliance
Government grants — · Total revenue $35.6M
Earned-income share
Program service revenue $14.2M · Total revenue $35.6M
40%
Investment reliance
Investment income $809K · Total revenue $35.6M
+2%
Program self-sufficiency
Program service revenue $14.2M · Total expenses $25.0M
57%
Growth & trend
Revenue growth (YoY)
This year $35.6M · Prior year $31.6M
+13%
Revenue CAGR
FY2020 $25.2M · FY2024 $35.6M
+9%
Net-asset trend (YoY)
End of year $157.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $35.6M · Expenses $25.0M
+30%
Liabilities-to-Assets
Total liabilities — · Total assets $220.9M
Net-asset ratio
Net assets $157.6M · Total assets $220.9M
71%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $220.9M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brenda Rosen · Reported title PRESIDENT & CEO · Highest reported compensation $0 · Total expenses $25.0M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $10.0M · Total expenses $25.0M
40%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 7%
Fundraising cost ratio 4%
Revenue growth 13%
Legal fee ratio 1%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 21 funders →

Similar Organizations

Closest in mission — by what they do
See all organizations like Breaking Ground Housing Development Fund Corporation →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$35.6M revenue · viewing · ⤓ 990 PDF
FY2023$31.6M revenue · ⤓ 990 PDF
FY2022$29.8M revenue · ⤓ 990 PDF
FY2021$26.0M revenue · ⤓ 990 PDF
FY2020$25.2M revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.