WESTBETH CORP HOUSING DEVELOPMENT FUND COMPANY INC Charity Report

Public IRS 990 nonprofit record

WESTBETH CORP HOUSING DEVELOPMENT FUND COMPANY INC

EIN 13-2614139 · Housing & Shelter (L20Z)

What they do

WESTBETH A HOME for THE ARTS and PROVIDES HOUSING and RELATED SUPPORT SERVICES for ARTISTS. WESTBETH COMPRISES 384 UNITS of AFFORDABLE HOUSING for LOW-INCOME ARTISTS and THEIR FAMILIES. IN ADDITION, IT CONTAINS ARTISTS PRODUCTION and PRESENTATION SPACES -- PAINTING STUDIOS, REHEARSAL STUDIOS, EXHIBITION, THEATER and PERFORMANCE SPACES -- for BOTH RESIDENTS and NON-RESIDENTS. IT ALSO OFFERS SOCIAL SERVICE SUPPORT for AN INCREASINGLY ELDERLY POPULATION, MANY of WHOM HAVE LIVED IN THE BUILDING SINCE IT OPENED IN 1970.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $87.50 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders15 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

100.11%of revenue went to mission work87.5% of expenses · Program services

0.28%of revenue went to fundraising0.2% of expenses

$114.46spent for every $100 of revenueSpending was higher than revenue this year.

14.06%of revenue went to management and office costs12.3% of expenses

$4.53in assets for every $1 spent this yearSome assets cannot be spent right away.

1.7%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $1,624,422 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $262,611 for PETER MADDEN (EXECUTIVE DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$11,236,902

Mission workProgram services$11,249,718100.11% of revenue87.5% of expenses

ManagementOffice and general costs$1,580,10614.06% of revenue12.3% of expenses

FundraisingAsking for donations$31,5000.28% of revenue0.2% of expenses

Total expenses$12,861,324114.46% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 87.5% mission · 12.3% management · 0.2% fundraisingTotal expenses: 114.46% of revenue

2023Expense mix: 87.5% mission · 11.8% management · 0.7% fundraisingTotal expenses: 118.01% of revenue

2022Expense mix: 85.5% mission · 12.6% management · 1.9% fundraisingTotal expenses: 119.66% of revenue

2021Expense mix: 83.0% mission · 15.9% management · 1.0% fundraisingTotal expenses: 118.65% of revenue

2020Expense mix: 86.9% mission · 12.1% management · 1.0% fundraisingTotal expenses: 90.22% of revenue

2019Expense mix: 88.0% mission · 11.8% management · 0.2% fundraisingTotal expenses: 95.48% of revenue

2018Expense mix: 98.5% mission · 1.5% management · 0.0% fundraisingTotal expenses: 90.27% of revenue

2017Expense mix: 98.4% mission · 1.6% management · 0.0% fundraisingTotal expenses: 90.72% of revenue

Money in and money out

Revenue$11,236,902

Expenses$12,861,324

Annual shortfall $1,624,422 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$11,249,718 · 87.5% of expenses

Management and office costs$1,580,106 · 12.3% of expenses

Fundraising$31,500 · 0.2% of expenses

See all reported dollar amounts

Revenue$11,236,902

Expenses$12,861,324

Assets$58,291,753

Income$24,593,351

Contributions$187,514

Mission work (program services)$11,249,718

Fundraising$31,500

Management and general$1,580,106

Stocks and bonds$342,850

Accounting fees$59,475

Investing fees$14,868

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

PETER MADDENEXECUTIVE DIRECTOR · 40 hrs/week $262,611Base $252,911 · Other $9,700

MIRIAM TASHCOMMUNITY MANAGER · 40 hrs/week $148,641Base $123,183 · Other $25,458

TODD SALLEYSUPER · 40 hrs/week $117,294Base $100,564 · Other $16,730

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (15)

PETER MADDENEXECUTIVE DIRECTOR

MIRIAM TASHCOMMUNITY MANAGER

TODD SALLEYSUPER

ADAM DAVIDSONDIRECTOR (THROUGH 6/24)

AILEEN GRIBBENDIRECTOR

ALINA LUNDRYTREASURER

ARVIND SOHONIDIRECTOR

CHRISTINA MAILESECRETARY

ELSIE MCCABE THOMPSONDIRECTOR

ERIN QUINN PURCELLDIRECTOR

GEORGE COMINSKIEDIRECTOR

JOE VERSACECHAIR

JUDD LEVYVICE CHAIR

MERILYN ROVIRADIRECTOR

SAMANTHA VINCENTDIRECTOR (THROUGH 6/24)

About this charity

Recognized since: January 1968
Location: 777 THIRD AVENUE 6TH FL, NEW YORK, NY 10017-1307
County: New York
In care of: % ACCOUNTING DEPT
Primary officer: PETER MADDEN, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Emailwestbethevents@gmail.com Phone(212) 691-1500

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: SAX LLP
NTEE classification: Housing & Shelter (L20Z)