Market Research Report: Progressive Housing Inc and Competitors
Overview
Progressive Housing Inc is a nonprofit organization headquartered in Olympia Fields, Illinois, with additional significant operations reported in Sacramento and Livermore, California. It operates as a 501(c)(3) organization, dedicated to human services aimed at promoting the independence of adults grappling with mental health issues or homelessness. As a charitable organization, it engages in various activities for public benefit, including educational and scientific responsibilities, promoting public safety, and supporting sanctioned sports competitions. As an added incentive for potential contributors, donations are tax-deductible.
Financial Performance
In the fiscal year of 2023, Progressive Housing Inc documented a revenue of $17.7 million and expenses amounting to $16.8 million, culminating in a net income of $836,251. The organization’s assets totaled $10.5 million, counteracted by liabilities of $814,000, resulting in net assets of $9.6 million. The organization derives the bulk of its revenue—97.3%—from program services, with additional income coming from investments and rental properties.
Leadership and Key Personnel
The leadership team at Progressive Housing Inc includes:
- Lawrence Manson, President and CEO, with compensation of $155,272 and additional benefits totalling $24,751.
- Lloyd Heptinstall, CFO, receiving a package of $125,008 and $18,985 in benefits.
- Stephanie Ross, Senior Vice President of Operations for Northern Illinois, compensated with $100,015 plus $14,674 in benefits.
Services
Progressive Housing Inc is committed to offering comprehensive services aligned with its mission to uplift vulnerable populations. Key offerings include developmental training, assisted living, fiscal management assistance, job placement services, and community outings designed to facilitate social growth and community involvement. Such initiatives are deemed crucial to fostering greater independence for beneficiaries, enhancing their quality of life.
Strategic Focus
The organization's strategic priorities revolve around sustaining revenue growth and prudent investments in personnel and assets, reflecting a strategic commitment to enhancing financial and service capacity. Its effectiveness is buoyed by a primary focus on robust program services, which supply most revenue, along with a disciplined approach to expense management, including maintaining modest executive compensation relative to revenue.
Competitor Profiling
Top Competitors
Woodley House
Woodley House, based in Washington, DC, is a prominent competitor in the provision of mental health supportive services and housing. Since its inception in 1958, it has supported approximately 400 residents annually across four DC wards and aspires to double its capacity by 2030. Its core operations emphasize community involvement and empowering individuals with mental health disorders.
AIDS Interfaith Residential Services (AIRS)
Situated in Baltimore, MD, AIRS delivers supportive housing services targeting formerly homeless youth and those living with HIV/AIDS. The organization accentuates self-sufficiency and improvements in quality of life, acknowledging its pivotal role in supporting vulnerable groups.
Hope Cooperative
This Sacramento, CA-based organization serves over 10,000 individuals annually through dedicated programs in mental health and housing support. Hope Cooperative employs a continuum of care model, integrating crisis intervention and residential support to address mental health and homelessness challenges.
Advance Housing Inc
Operating as a not-for-profit organization in Teterboro, NJ, Advance Housing focuses on supportive housing and wellness services, alongside asset management. The organization manages over 35 properties catering to diverse client needs through rehabilitative and supportive services.
Other Competitors
Additional notable competitors include institutions like Woodley House, Hope Cooperative, and Advance Housing, each offering key services in the mental health and housing sector similar to those of Progressive Housing Inc. They leverage diverse strategies such as community-based methods and sustainable housing systems tailored to specific populations.
In an intensely competitive sector with organizations like Woodley House, AIRS, Hope Cooperative, and Advance Housing implementing similar missions, Progressive Housing Inc could gain from evaluating these methodologies to enrich their offerings and boost community impact.
