Housing Development Fund Inc

Organization Overview

Housing Development Fund Inc is located in Stamford, CT. The organization was established in 2003. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Housing Development Fund Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Development Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Housing Development Fund Inc generated $5.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.2m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING, BOTH RENTAL AND HOMEOWNERSHIP, AND ASSIST HOUSEHOLDS TO BECOME OWNERS OF AFFORDABLE HOMES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HOMEBUYER ASSISTANCE UNDERWRITING - HDF PROVIDES ASSISTANCE IN LOANS FOR DOWN PAYMENTS AND LOW INTEREST SECOND MORTGAGES.


HOMEBUYER ASSISTANCE COUNSELING - PROVIDE LOW INTEREST, FLEXIBLE FINANCING AND TECHNICAL ASSISTANCE TO DEVELOPERS BY PROVIDING HOMEBUYER ASSISTANCE FINANCING AND HOMEOWNERSHIP COUNSELING TO HOMEBUYERS.


MULTI-FAMILY HOUSING - PROVIDE CONSTRUCTION AND PERMANENT LOANS AND RELATED ASSISTANCE TO PROVIDERS OF MULTI-FAMILY HOUSING TO ENABLE THEM TO EXPAND LOW AND MODERATE INCOME HOUSING OPPORTUNITIES FOR FAMILIES IN SOUTHWESTERN CT.


PROPERTY MANAGEMENT - TO ATTRACT ALL POSSIBLE RENTERS WHO ARE THE LEAST LIKELY TO APPLY FOR AFFORDABLE HOUSING UNITS IN THE REGION. POSSIBLE RENTERS ARE SUBJECT TO CERTAIN STATE MEDIAN INCOME LIMITATIONS.


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Board, Officers & Key Employees

Name (title)Compensation
Joan Carty
President & CEO
$254,100
Gina Delano
Interim CFO
$145,343
Clay Fowler
Chair
$0
Bert Hunter
Treasurer
$0
Michael Weinstock
Vice Chair
$0
Annie Lazarus
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$71,575
Related organizations$0
Government grants $2,927,178
All other contributions, gifts, grants, and similar amounts not included above$123,033
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,121,786
Total Program Service Revenue$2,110,723
Investment income $90,617
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$21,456
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,301,670

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Housing Development Fund Inc has recieved totaling $84,005.

Awarding OrganizationAmount
Goodnow Fund

Darien, CT

PURPOSE: HOMEOWNERSHIP EQUITY FUND

$50,000
Grace J Fippinger Foundation Inc

Stamford, CT

PURPOSE: AFFORDABLE HOUSING

$15,000
Grace J Fippinger Foundation Inc

Stamford, CT

PURPOSE: AFFORDABLE HOUSING

$15,000
Savings Bank Of Danbury Foundation Inc

Danbury, CT

PURPOSE: EXEMPT PURPOSES

$2,000
Savings Bank Of Danbury Foundation Inc

Danbury, CT

PURPOSE: EXEMPT PURPOSES

$2,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$5
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$428,755
Other Expense$428,755

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