Affordable Housing Development Fund Inc

Organization Overview

Affordable Housing Development Fund Inc is located in Rockford, IL. The organization was established in 1998. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Affordable 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 12/2021, Affordable Housing Development Fund Inc generated $18.6m 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 (11.3%) each year. All expenses for the organization totaled $16.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

OWNERSHIP, DEVELOPMENT, PRESERVATION AND MANAGEMENT OF AFFORDABLE, SAFE, QUALITY, WELL-MAINTAINED HOUSING COMMUNITIES

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CORPORATION'S CHARITABLE PURPOSE INCLUDES, AMONG OTHER THINGS, OWNERSHIP, DEVELOPMENT, PRESERVATION AND MANAGEMENT OF AFFORDABLE, SAFE, GOOD QUALITY, WELL-MAINTAINED HOUSING COMMUNITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Thomas Van Vleet
Dir.& Pres.
$24,000
John Constantine
Dir. & Secretary
$15,000
Jack Ahrens
Dir., Vp, & Treasurer
$15,000
Perry Harenda
Director Of Affordable Hsi
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Rural Housing Consultants Llc
Consulting Fees
$940,000
Dauby O'connor & Zaleski Llc
Accounting Fees
$308,183
Reinhart Boerner Van Deuren Sc
Legal Fees
$115,706
Hays Companies
Insurance
$191,478
American Family Insurance Company
Insurance
$212,272
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $259,295
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$259,295
Total Program Service Revenue$14,767,662
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $3,330,656
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $18,557,415

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