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New York BBB Wise Giving Report for
Project Renewal

A BBB Accredited charity

 



Expiration Date:
07/2016
Name:
Project Renewal, Inc.
Formerly known as:
(formerly known as Manhattan Bowery Corporation)
Address:
also known as: (formerly known as Manhattan Bowery Corporation)
Phone:
200 Varick Street, 9th floor
New York, NY 10014
212-620-0340
Year, State Incorporated:
1967, New York
Affiliates:
None
Stated Purpose:
" 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. Our comprehensive and innovative approach combines healthcare, addiction and mental health treatment, employment services, and housing to help our clients rebuild their lives. "





Evaluation Conclusions
 

              
Project Renewal, Inc. (PRI) does not meet the following Standard for Charity Accountability.

Standard 16 : Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

  • The organization's annual report does not include a roster of the officers and members of the board of directors and does not identify the total program service expense, total amount spent for each of its major program activities and the total fund raising expense for the past fiscal year.


Project Renewal, Inc. (PRI) meets the remaining 19 Standards for Charity Accountability.




Programs
 

              
Project Renewal uses a progression of services in order to move homeless people from the streets to independent living in the community. Service begins on the street with mobile psychiatric and medical outreach teams. Next, clients are moved into residential programs in order to recover their health and learn to manage their mental illness or achieve sobriety. From there, Project Renewal helps them prepare for, find, and keep jobs, providing a means of support, both mentally and physically. Permanent housing is the last element in the progression, completing the return to a self-sufficient life in the community.



Governance
 

              
Chief Executive Officer:
Mitchell Netburn, President & CEO
Compensation*:
$249,034
Chair of the Board:
Neil S. Mitchell
Chair's Profession / Business Affiliation:
Morgan Stanley
Board Size:
13
Paid Staff Size:
671



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


direct mail appeals, invitations to fund raising events, grant proposals, internet
Fund raising costs were 1.4% of related contributions. (Related contributions, which totaled $45,154,581, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on PRI's Audited Financial Statements - Consolidated for the fiscal year ended June 30, 2013.

Source of Funds  

Grants

$43,085,092

Rental Income

2,499,426

Contributions

1,303,659

Miscellaneous Income

846,866

Special Events (net of direct benefit to donors of ($99,243)

765,830

Total Income

$48,500,873

Program Expenses  

Treatment and Transactional housing

$23,923,018

Permanent Housing

8,109,906

Medical Services

6,495,897

Employment Services

4,570,347

Outreach

393,362
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Expenses in Excess of Income

43,492,530
630,117
5,288,559

$49,411,206

$(910,333)




Uses of Funds as a % of Total Expenses


Programs: 88%  Fund Raising: 1%  Administrative 11% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $8,906,965
1,080,292
Ending net assets 9,076,924
Total liabilities 48,879,156

Total assets

$57,956,080






 

A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.