About
Phipps Houses is one of New York City's oldest and largest not-for-profit developers of affordable housing. Established in 1905 by philanthropist Henry Phipps through a special act of the New York Legislature, the organization creates affordable housing and — through its affiliated human-services arm, Phipps Neighborhoods — offers education, workforce development, and other programs that support the goal of building thriving communities across the Bronx, Brooklyn, Manhattan, and Queens.
Mission
Phipps creates affordable housing and offers education, workforce development and other programs that support the goal of building thriving communities.
What they do
- Affordable housing: development and long-term management of affordable apartments across New York City.
- Education: after-school programs, summer camps, college and career bridge programs, community schools, and early childhood education.
- Workforce development: a career network, direct employment placement, and youth employment initiatives.
- Resident and community services: community centers, food access programs, and resident services in the neighborhoods where Phipps builds.
History
Henry Phipps founded the organization in 1905 after he saw a need to improve housing for what he termed "the working classes," establishing a $1 million fund for building model tenements in 1906. Early milestones include the San Juan Hill Apartments in Manhattan (eight buildings, 1906), the 472-unit Phipps Garden Apartments in Queens (1930-1935), more than 1,500 apartments of hospital staff housing (1956), and the 1,600-plus-unit Henry Phipps Plazas in Kips Bay (1968). Phipps moved into the Bronx in 1973 with the 731-unit Lambert Houses. In 1972 the organization created what is now Phipps Neighborhoods (formerly Phipps Community Development Corp.) to provide education, workforce, and community programming. Its Via Verde project won an international design competition in 2007, and Rockaway Village — at 1,700 affordable apartments, the largest development in Phipps' portfolio — was completed in 2026.
Scale and impact
Figures published by the organization:
- More than 33,500 residents live in Phipps apartments.
- More than 14,000 community members receive services through its programs.
- More than 114,000 nutritious meals are distributed annually.
Financials
Per its IRS Form 990 data on ProPublica Nonprofit Explorer (fiscal year 2024), Phipps Houses reported total revenue of $110,928,466, total expenses of $18,959,721, and net assets of $972,139,840. Revenue included $41.3 million in program services, $32.4 million in investment income, and $25.3 million in contributions. Phipps Houses (EIN 11-1187480) has held tax-exempt status since March 1948 and is classified under Housing Development, Construction and Management.
Governance
Adam Weinstein serves as President and CEO, with James Robert Pigott Jr. as VP/Secretary and Lukeman Ogunyinka as CFO/Treasurer, per the organization's 2024 IRS filing. Headquarters are at 257 Park Avenue South, New York, NY.