Home Forward Development Enterprises Corporation
- Assets
- $46.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, OR
- Founding
- 07/2006
- Data as of
- 12/2021
- EIN
- 20-3448706
Organization Overview
Home Forward Development Enterprises Corporation is located in Portland, OR. The organization was established in 2006. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Home Forward Development Enterprises Corporation 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 12/2021, Home Forward Development Enterprises Corporation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.4%) each year. All expenses for the organization totaled $579.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (27.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT REDEVELOPMENT OPERATIONS AND MAINTENANCE OF ONE OR MORE HOUSING PROJECTS AS DEFINED IN ORS 456-065 IN THE STATE OF OREGON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OME FORWARD DEVELOPMENT ENTERPRISES CORPORATION PERFORMED DEVELOPMENT SERVICES FOR ONE REDEVELOPMENT PROJECT DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Damien Hall Chair President | OfficerTrustee | 1 | $0 |
Matthew Gebhardt Board Member Vice President | OfficerTrustee | 1 | $0 |
Michael Buonocore Secretary | Officer | 1 | $0 |
Peter Beyer Treasurer | Officer | 1 | $0 |
David Widmark Board Member | Trustee | 1 | $0 |
Richard Anderson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $982,392 |
| Investment income | $23,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,005,830 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,610 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $571,449 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,305 |
| Total functional expenses | $579,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,358,643 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $38,703,289 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,061,933 |
| Accounts payable and accrued expenses | $27,081 |
| Grants payable | $0 |
| Deferred revenue | $727,099 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $754,180 |
| Net assets without donor restrictions | $45,307,753 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $46,061,933 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Home Forward Development Enterprises Corporation has recieved totaling $84,446.
| Awarding Organization | Amount |
|---|---|
United Way Of The Columbia- Willamette Portland, OR PURPOSE: Safety Net | $84,446 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bridge Support Corporation San Francisco, CA | $25,734,079 | $2,781,865 |
Homeful Foundation Laguna Hills, CA | $2,776,958 | $819,434 |
Home Forward Development Enterprises Corporation Portland, OR | $46,061,933 | $1,005,830 |
Triad Properties Ventura, CA | $3,165,873 | $407,122 |
Friends Of 40prado San Luis Obispo, CA | $806,443 | $424,234 |
Community Housing Fund Beaverton, OR | $5,722,446 | $513,713 |
San Fernando Housing Foundation Woodland Hills, CA | $455,522 | $168,485 |
Casa Del Mar Inc Encinitas, CA | $125,064 | $256,819 |
Bel Air Housing Foundation Woodland Hills, CA | $443,422 | $200,185 |
Orange County Housing Foundation Woodland Hills, CA | $551,434 | $181,222 |
Palos Verdes Housing Foundation Woodland Hills, CA | $462,351 | $192,039 |
Spirit Of Blue Foundation Wilsonville, OR | $113,910 | $0 |