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Following are summaries of some past work done by Dropkin and Company in
housing related areas:
Community Development and Low Income Housing:
New York State Division of Housing and Community Renewal (DHCR)
funds, monitors and assists hundreds of nonprofit housing and community
development organizations in rural and urban areas. Working closely with
DHCR management and staff and representatives of community development
organizations, we successfully organized and led consulting teams that
carried out a series of interrelated projects for DHCR.
A $25 million Community Development NonProfit that develops and
rehabilitates low income housing in New York City, manages 25 buildings with
over 1,000 dwelling units and trains young people in construction skills. We
trained top management, program and fiscal staff in accounting policies and
procedures; audited 25 separate programs within the organization; and provided
planning and coaching on a series of problem solving and expansion issues.
A Bronx-Based, Multi-Million Dollar Community Development Network
that uses federal, state, city, foundation and corporate funds to develop and
manage $21 million dollars worth of low-income housing (820 units in 13 buildings),
engage in economic development activities and provide needed social and human
services. We (1) created training designs and materials, and trained management and
staff in real estate management, budgeting and accounting policies and
procedures, and (2) conducted single audits of the entire organization as well as
audited individual buildings.
A Multiply Funded Neighborhood Improvement Corporation in New York City
that serves area residents and homeless people through housing advocacy,
landlord/tenant relations, legal services, weatherization, drug prevention and
day care programs, and manages some low-income housing. We (1) conducted single
audits of the entire organization as well as audited individual programs; and
(2) assisted in planning for and installing a new computer system.
A Community Based NonProfit Creating "For-Profit" Housing Subsidiaries.
This was an experienced nonprofit organization that wanted to create "for-profit"
subsidiary organizations to provide low and moderate income housing. Working
with the Executive Director, we (1) researched the tax implications of having
profit making subsidiaries, (2) made recommendations for protecting the parent
organization's nonprofit status and (3) conducted audits and prepared tax returns.
Homelessness:
A $2-Million NonProfit Combatting Homelessness by leasing and
purchasing land, developing and managing 24 units of transitional housing,
and providing "one-stop" shelter, food, advocacy, day care, job training and
placement for homeless families, with funding from multiple sources. We have
conducted single audits of the entire organization, and we have audited
individual programs.
Camden County NJ Homelessness Transition Project, a unique partnership
between county government and the County Improvement Authority, was designed
to help families move from homelessness to home ownership through sweat equity
homesteading.
IN-REM Buildings (Tenant/Company Managed):
New York City Department of Housing Preservation and Development (HPD)
is responsible for preserving, managing and adding to the city's supply of housing
and conducting citywide housing related programs. We spent over 4,000 hours
working with HPD management and staff on programs designed to return city
owned multiple dwellings to private ownership - the Tenant Interim Lease and
Section 7A Programs (TIL/7A) and the Private Ownership and Management Program
(POMP).
Rooming/Boarding Homes and SRO Hotels:
New Jersey Department of Community Affairs (DCA) licenses and inspects
all proprietary and nonprofit rooming and boarding homes in the state, which are
a major resource in the fight against homelessness. We carried out a comprehensive,
15 month study of Class C Boarding Homes that identified operating costs,
projected availability and housing trends, and recommended strategies to
encourage and finance housing for low income residents.
New York City Owned Single Room Occupancy (SRO) Hotels (up to 150
units each) run by the New York City Department of Housing and Preservation
and Development's Division of Alternative Management Programs (DAMP). Working
with the Division's and hotels' management and staff, we (1) reorganized
hotel finances, rent collection and accounting systems, and (2) we trained
DAMP and hotel staff to implement the new systems.
Residential and Transitional Housing:
A Statewide Transitional Housing NonProfit - This $7 million nonprofit
agency provides housing, employment and normalization services to former mental
patients, with the goals of preventing homelessness and increasing self-sufficiency.
Working with the Executive Director, (1)we designed and led a planning retreat
to examine key administrative, management and finance functions, (2) we identified
needs and set goals in priority areas (organizational mission, long range
planning, development and fund raising, research and evaluation, internal and
external reporting, quality assurance, accounting and finance), and (3) we
presented strategic options in each priority area for management consideration.
An $8.5 Million Regional Transitional Housing NonProfit created to
provide community based residential and related services to increase the
likelihood of successful community living on the part of chronically disabled
psychiatric clients. (1) We provided systems development and training that
enabled staff and management to turn a six figure deficit into a six figure
surplus within one year; (2) we created an accounting policies and procedures
manual; and (3) we conducted single audits of the entire organization, and we
audited individual programs.
Real Estate Development and Management: Most of our engagements
involve general real estate development and/or management issues. Following
are some specific development / management engagements.
A $50 Million National Real Estate Development and Management Company.
Working with the President and other officers, we (1) prepared income and tax
projections and filings on syndication and limited partnership offerings; (2)
prepared the firm's own financial reports and tax filings; (3) assessed the firm's
overall information flow and reporting needs; and (4) designed, installed and
trained staff in the use of a custom computer system.
A $40 Million NonProfit Real Estate Development Project created by a
major university to develop and manage university owned real estate. Working
for the corporation's President, we analyzed the budgeting and financial
management systems, designed detailed annual operating and capital budget
processes, and made recommendations regarding existing policies and procedures,
organization and staffing, financial reporting and accounting, internal
communications and staff training.
A Local Church of a National Denomination had incurred high levels
of indebtedness as a result of building an impressive new church building and
related facilities. At the request of a bank that was considering additional
loans to the Church, we conducted a study designed to help the Church manage
its building indebtedness in order to survive and grow in the future. Working
closely with the Pastor and various Board Members, we (1) analyzed current
indebtedness, income and expenses; (2) prepared contingency budget outlines
covering the next decade; and (3) presented detailed recommendations for
studying and reducing costs, increasing internal and external fund raising,
generating space rental income, and preparing and monitoring annual
budgets and monthly financial reports.
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