Chicago Metropolitan Housing Development Corporation
- Assets
- $46.1m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Chicago, IL
- Founding
- 11/1997
- Data as of
- 12/2021
- EIN
- 36-3833156
Organization Overview
Chicago Metropolitan Housing Development Corporation is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Chicago Metropolitan Housing Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Metropolitan Housing Development 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, Chicago Metropolitan Housing Development Corporation generated $7.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $9.5m during the year ending 12/2021. 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
CMHDC'S MISSION IS TO RETAIN AND DEVELOP PROPERTIES WITH BOTH AFFORDABLE AND MARKET RATE HOUSING IN CHICAGO . CMHDC TARGETS AREAS VUNERABLE TO AFFORDABLE HOUSING SHORTAGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CMHDC PROVIDES REVITALIZATION,DEVELOPMENT,FINANCING AND RENTALS OF LOW AND MODERATE INCOME HOUSING WITH EMPHASIS ON PROMOTING MIXED INCOME DEVELOPMENTS AND COMMUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rafael Leon Exec Dir | Officer | 40 | $185,292 |
Rosanna Marquez President/dir | OfficerTrustee | 2 | $0 |
Marla Kaiden Treasurer/secy | OfficerTrustee | 2 | $0 |
Andy Geer Director | Trustee | 0.5 | $0 |
Fran Grossman Director | Trustee | 0.5 | $0 |
Theodore Weldon III Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kass Management Property Management | 12/30/21 | $333,863 |
Rosenthal Insurance Insurance | 12/30/21 | $380,941 |
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 | $7,344,196 |
| Investment income | $0 |
| 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 | $7,394,940 |
| 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. | $185,292 |
| Compensation of current officers, directors, key employees. | $42,240 |
| Compensation to disqualified persons | $278,628 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $125,796 |
| Payroll taxes | $39,310 |
| Fees for services: Management | $398,494 |
| Fees for services: Legal | $174,741 |
| Fees for services: Accounting | $80,241 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $128,299 |
| Office expenses | $163,399 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $166,261 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,657,927 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,735,917 |
| Insurance | $360,785 |
| All other expenses | $90,231 |
| Total functional expenses | $9,504,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,505,159 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $520,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,158,760 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $824,130 |
| Net Land, buildings, and equipment | $38,669,376 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$652,049 |
| Intangible assets | $0 |
| Other assets | $66,212 |
| Total assets | $46,092,100 |
| Accounts payable and accrued expenses | $1,278,704 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $36,812,056 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $647,008 |
| Total liabilities | $38,737,768 |
| Net assets without donor restrictions | $7,354,332 |
| 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 | $46,092,100 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chicago Metropolitan Housing Development Corporation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: See Part IV | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Contacts Inc Elgin, IL | $3,819,582 | $12,869,082 |
Institute For Community Alliances Des Moines, IA | $2,443,302 | $12,133,028 |
New Directions Housing Corporation Louisville, KY | $27,737,851 | $9,868,214 |
Western Home Services Inc Cedar Falls, IA | $36,931,248 | $9,460,886 |
Chicago Metropolitan Housing Development Corporation Chicago, IL | $46,092,100 | $7,394,940 |
Partners For Community Development Inc Sheboygan, WI | $8,253,882 | $7,968,342 |
West Chicago Preservation Corp Chicago, IL | $9,151,204 | $2,715,959 |
Cedar Lake Residences Inc Louisville, KY | $2,301,086 | $7,918,008 |
Ahepa Affordable Housing Management Company Inc Fishers, IN | $29,875,447 | $8,886,631 |
Justine Petersen Housing And Reinvestment Corporation Saint Louis, MO | $49,338,747 | $7,649,655 |
Bridge Communities Inc Glen Ellyn, IL | $16,127,143 | $5,545,489 |
Appalachian Foothills Housing Agency Incorporated Wurtland, KY | $1,707,535 | $4,881,556 |