Project Renewal INC FY2021 filing

Tax-deductible

New York, NY501(c)(3)Since 1967Mental HealthEIN 13-2602882Revenue $104.1M in FY2021

On file with the IRSprojectrenewal.org200 Varick Street, 10014-4810 · New York, NYTax-exempt since Apr 1968Publicly supported charity — 170(b)(1)(A)(vi)

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Project renewal's mission is to end the cycle of homelessness by empowering men, women, and children to renew their lives with health, homes, and jobs.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$2.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $513K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $64K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$64.3M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$104.1M
+5% vs prior year
Spent
$103.9M
To programs
88%
Net assets
$5.6M
By yearFY2020–FY2025
Revenue
$104.1M
FY2021▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$98.9M
FY2021$104.1M
FY2022$114.1M
FY2023$116.5M
FY2024$121.7M
FY2025$125.6M
Expenses
$103.9M
FY2021▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$98.3M
FY2021$103.9M
FY2022$108.3M
FY2023$117.5M
FY2024$122.9M
FY2025$126.9M
Net assets
$5.6M
FY2021▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.4M
FY2021$5.6M
FY2022$11.4M
FY2023$10.4M
FY2024$9.4M
FY2025$8.0M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1968.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $91.9M Management & general 11% · $11.1M Fundraising 1% · $910K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

33 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Chief Medical Officer
$348,239Pt VII · Sec A
President & CEO
$322,551Pt VII · Sec A
Chief Operations Officer
$251,008Pt VII · Sec A
Psychiatrist
$234,244Pt VII · Sec A
Psychiatrist
$232,545Pt VII · Sec A
Chief Development Officer
$230,990Pt VII · Sec A
$229,463Pt VII · Sec A
Physician
$215,054Pt VII · Sec A

Eric Rosenbaum’s $368K as President & CEO is at the 28th percentile of top reported officer pay among 76 $100M+ mental health nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Eric Rosenbaum$367,634$372,632$360,164$315,500$322,551$295,557
Miranda Von Dornum$302,467$360,164$266,672$224,579——
Allison Grolnick——$297,593$334,807$348,239$305,390
Catherine De Silva$306,846$268,245$258,878$238,954$230,990$187,987
Steven Jones$264,695$276,167$259,673$233,100$229,463$223,216
Doreen Thomann-Howe$172,279$253,114————
Joann Rudin———$189,722$251,008$240,866
Mariya Masyukova$238,621—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides medical, employment, housing, and community services in New York City.

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Provided by the organization

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3 programs · $84.8M · in their own filed words · FY2020
01

Treatment and Transitional Housing

The organization provides temporary housing with on-site treatment and rehabilitation services for the homeless, mentally ill and individuals with substance use issues. In 2021, project renewal, inc.

$66.7Mprogram expense
02

Medical Services

The organization operates a health care program delivering primary care, behavioral health, substance use and dental services in brick and mortar and mobile clinic settings. Many patients receive services from through intervention from the mobile psychiatric and medical teams.

$9.6Mprogram expense
03

Employment Services and Outreach

Provided educational and vocational assessment training, job placement and retention services. Eight hundred fourteen people received vocational training and job placement services. There were over 1,700,000 meals served by our city beet kitchens catering program that feeds more homeless new yorkers than any other organization and…

$8.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
See all 5 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$104.1M
Ln 12
Gifts and grantsLn 1h$90.8M
Fees for servicesLn 2g$12.4M
Other incomeLn 4–11$813K
Money outPt IX
$103.9M
Ln 25
Programscol B$91.9M
Managementcol C$11.1M
Fundraisingcol D$910K
Owns and owesPt X
$5.6M
net assets · Ln 32
Cash and savingsLn 1–2$8.9M
Total assetsLn 16$70.0M
LiabilitiesLn 26$64.3M
PeoplePt VI, VII
33
listed · VII A
PaidVII A11
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$90.8M
Government grantsLn 1e$85.5M
Noncash giftsLn 1g$16K
Fees for servicesLn 2g$12.4M
Investment incomeLn 3$737
Other incomeLn 4–11$813K
Gains on assetsLn 7$609
Total revenueLn 12$104.1M
Assets in detailPt X, end of year
CashLn 1$8.9M
SavingsLn 2$29K
Cash and savings togetherLn 1–2$8.9M
InvestmentsLn 11–13$200K
Land, buildings, equipmentLn 10c$8.3M
Other assetsLn 15$5.1M
Total assetsLn 16$70.0M
LiabilitiesLn 26$64.3M
Net assetsLn 32$5.6M
OperationsPt I, VI
EmployeesI 51,194
VolunteersI 622
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$5.1M$8.9M
InvestmentsLn 11–13$119K$200K
Land, buildings, equipmentLn 10c$5.2M$8.3M
Total assetsLn 16$58.5M$70.0M
LiabilitiesLn 26$53.2M$64.3M
Net assetsLn 32$5.4M$5.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.6M$483K$1.1M
Other salaries and wagesLn 7$39.3M$34.7M$4.1M$524K
Pension plan contributionsLn 8$397K$353K$38K$5K
Other employee benefitsLn 9$5.0M$4.3M$643K$64K
Payroll taxesLn 10$4.4M$3.7M$619K$56K
Legal feesLn 11b$246K$246K
Lobbying feesLn 11d$72K$72K
Other fees for servicesLn 11g$17.0M$16.4M$492K$167K
Office expensesLn 13$2.9M$1.7M$1.1M$6K
Information technologyLn 14$367K$15K$353K
OccupancyLn 16$18.0M$17.0M$991K
TravelLn 17$115K$46K$69K$205
InterestLn 20$179K$179K
Depreciation, depletion and amortizationLn 22$944K$483K$461K
InsuranceLn 23$1.8M$1.5M$325K
Other expenses (24a–d)Ln 24$11.3M$11.1M$264K
All other expensesLn 24e$344K$165K$91K$88K
Total functional expensesLn 25$103.9M$91.9M$11.1M$910K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $125.6M$126.9M−$1.4M$8.0M 990 PDF
FY2024 $121.7M$122.9M−$1.1M$9.4M 990 PDF
FY2023 $116.5M$117.5M−$957K$10.4M 990 PDF
FY2022 $114.1M$108.3M$5.8M$11.4M 990 PDF
FY2021 Viewing $104.1M$103.9M$190K$5.6M 990 PDF
FY2020 $98.9M$98.3M$594K$5.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $104,099,662 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $82,211,606$90,841,859
I-9 Program service revenuePrior year $15,958,349$12,444,206
I-10 Investment incomePrior year $654$737
I-11 Other revenuePrior year $693,004$812,860
I-12 Total revenuePrior year $98,863,613$104,099,662
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $47,221,777$50,629,193
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $51,047,838$53,279,976
I-18 Total expensesPrior year $98,269,615$103,909,169
I-19 Revenue less expensesPrior year $593,998$190,493
Part VI · Governance 21 of 21 board members independent, no flags
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $104,099,662 across 10 lines filed
Lines not itemized here account for $202,880 of total revenue; see the IRS return.
VIII-1e Government grants$85,497,178
VIII-1f All other contributions, gifts and grants$5,344,681
VIII-1g Noncash contributions (included above)$15,731
VIII-1h Total contributions, gifts and grants$90,841,859
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,444,206$12,444,206
VIII-3 Investment incomeExcluded from tax $128$128
VIII-6 Net rental income or lossExcluded from tax $60,000$60,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax $609$609
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $549,980$549,980
VIII-12 Total revenueRelated to mission $13,197,066 · Unrelated business $0 · Excluded from tax $60,737$104,099,662
Part IX · Statement of functional expenses $103,909,169 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $483,261 · Management $1,105,947$1,589,208
IX-7 Other salaries and wagesPrograms $34,664,598 · Management $4,073,987 · Fundraising $523,542$39,262,127
IX-8 Pension plan contributionsPrograms $353,488 · Management $37,963 · Fundraising $5,408$396,859
IX-9 Other employee benefitsPrograms $4,265,939 · Management $642,684 · Fundraising $63,717$4,972,340
IX-10 Payroll taxesPrograms $3,734,048 · Management $618,954 · Fundraising $55,657$4,408,659
IX-11b Legal feesManagement $246,099$246,099
IX-11d Lobbying feesPrograms $72,000$72,000
IX-11g Other fees for servicesPrograms $16,366,178 · Management $492,205 · Fundraising $167,303$17,025,686
IX-13 Office expensesPrograms $1,740,011 · Management $1,105,110 · Fundraising $5,967$2,851,088
IX-14 Information technologyPrograms $14,532 · Management $352,947$367,479
IX-16 OccupancyPrograms $17,025,051 · Management $991,088$18,016,139
IX-17 TravelPrograms $45,653 · Management $69,149 · Fundraising $205$115,007
IX-20 InterestManagement $178,735$178,735
IX-22 Depreciation, depletion and amortizationPrograms $483,288 · Management $460,973$944,261
IX-23 InsurancePrograms $1,467,905 · Management $325,263$1,793,168
IX-24 Other expenses (24a–d)Programs $11,062,402 · Management $263,543$11,325,945
IX-24e All other expensesPrograms $165,227 · Management $90,747 · Fundraising $88,395$344,369
IX-25 Total functional expensesPrograms $91,943,581 · Management $11,055,394 · Fundraising $910,194$103,909,169
Part X · Balance sheet $69,968,060 assets, 18 lines filed
Asset lines not itemized here account for $12,500,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,843,350$8,868,730
X-2 Savings and temporary cash investmentsStart of year $288,137$28,694
X-3 Pledges and grants receivableStart of year $1,728,423$1,271,377
X-4 Accounts receivableStart of year $31,038,312$32,772,390
X-9 Prepaid expenses and deferred chargesStart of year $842,763$916,431
X-10c Land, buildings and equipment, netStart of year $5,154,925$8,319,691
X-11 Publicly traded securitiesStart of year $119,245$199,944
X-15 Other assetsStart of year $2,031,691$5,090,803
X-16 Total assetsStart of year $58,546,846$69,968,060
X-17 Accounts payable and accrued expensesStart of year $17,937,504$16,634,312
X-19 Deferred revenueStart of year $14,176,987$15,527,174
X-24 Unsecured notes and loans payable$8,263,870
X-25 Other liabilitiesStart of year $5,259,085$11,186,996
X-26 Total liabilitiesStart of year $53,186,752$64,336,774
X-27 Net assets without donor restrictionsStart of year $408,910$1,533,557
X-28 Net assets with donor restrictionsStart of year $4,951,184$4,097,729
X-32 Total net assets or fund balancesStart of year $5,360,094$5,631,286
X-33 Total liabilities and net assetsStart of year $58,546,846$69,968,060
Part XI · Reconciliation of net assets $5,631,286 net assets at year end
XI-1 Total revenue$104,099,662
XI-2 Total expenses$103,909,169
XI-3 Revenue less expenses$190,493
XI-4 Net assets at start of year$5,360,094
XI-5 Net unrealized gains (losses) on investments$80,699
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,631,286

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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