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

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


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



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.


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


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


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.


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.


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.


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


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


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

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