Housing Development Corporation
- Assets
- $5.8m
- Revenue
- $307.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Hastings, NE
- Founding
- 11/1994
- Data as of
- 12/2021
- EIN
- 47-0772308
Organization Overview
Housing Development Corporation is located in Hastings, NE. The organization was established in 1994. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Housing Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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, Housing Development Corporation generated $307.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $360.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 6 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
HOUSING DEVELOPMENT CORPORATION IS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION 'CHDO'. HDC'S MISSION IS TO ASSIST LOW TO MODERATE INCOME HOUSEHOLDS TO OBTAIN AND MAINTAIN SAFE AND AFFORDABLE HOUSING WITHIN THE COUNTIES OF ADAMS, CLAY, HALL, NUCKOLLS, AND WEBSTER COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FORGIVENESS OF LIENS PLACED ON HOMES FOR DOWN PAYMENT ASSISTANCE AND FOR OWNER OCCUPIED REHAB WHICH ARE FORGIVEN INCREMENTALLY OVER 10 OR MORE YEARS. IF A HOUSE SELLS BEFORE THE FORGIVENESS PERIOD, THE RECAPTURED FUNDS IS PROGRAM INCOME.
ALL OTHER HOUSING PROGRAM INCOME AND EXPENSES.
A PROGRAM WHICH DOES REHABILITATION WORK ON OWNER OCCUPIED HOMES. THE FUNDS TO PROVIDE THE WORK ARE IN THE FORM OF A FORGIVABLE LOAN OR AN INSTALLMENT LOAN BASED ON INCOME AND ABILITY TO REPAY. HDC OVERSEES THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Callahan Executive Di | Officer | 40 | $61,308 |
Tricia Allen Vice Preside | OfficerTrustee | 1 | $0 |
Marian Turner Secretary/tr | OfficerTrustee | 1 | $0 |
Marsha Sukup President | OfficerTrustee | 1 | $0 |
Rachelle Lipker President | OfficerTrustee | 1 | $0 |
Laura Burkholder Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $72,186 |
| 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 | $72,186 |
| Total Program Service Revenue | $123,231 |
| Investment income | $12,809 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$66,716 |
| 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 | $165,763 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $307,273 |
| 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. | $61,308 |
| Compensation of current officers, directors, key employees. | $6,131 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,844 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,959 |
| Payroll taxes | $10,165 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $826 |
| Fees for services: Accounting | $27,826 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $66 |
| Office expenses | $7,775 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,431 |
| Travel | $966 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $758 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,305 |
| All other expenses | $0 |
| Total functional expenses | $359,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286,820 |
| Savings and temporary cash investments | $788,699 |
| Pledges and grants receivable | $76,508 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,789,737 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $776,592 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,123,481 |
| Total assets | $5,841,837 |
| Accounts payable and accrued expenses | $0 |
| 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 | $341,522 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,203 |
| Total liabilities | $359,725 |
| Net assets without donor restrictions | $615,015 |
| Net assets with donor restrictions | $4,867,097 |
| 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 | $5,841,837 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Irc Ii Inc Omaha, NE | $77,092,812 | $15,244,348 |
Mercy Housing Wheaton Nfp Denver, CO | -$15,968,467 | $14,335,053 |
Center For The Developmentally Disabled Kansas City, MO | $14,632,501 | $18,017,450 |
Rocky Mountain Mutual Housing Association Inc Denver, CO | $89,135,511 | $15,318,775 |
Mercy Housing Northwest Denver, CO | $73,547,369 | $9,509,795 |
Reach For Your Potential Inc Iowa City, IA | $7,743,905 | $10,140,331 |
Ark Regional Services Inc Laramie, WY | $4,970,092 | $7,518,317 |
Community Housing Concepts Inc Denver, CO | $87,603,673 | $7,035,643 |
Region Xii Council Of Governments Inc Carroll, IA | $20,470,902 | $9,309,351 |
Community Resources & Housing Development Corporation Westminster, CO | $39,546,722 | $6,041,584 |
Elevation Community Land Trust Denver, CO | $49,445,560 | $8,122,320 |
Residences At Eaton Senior Communities Lakewood, CO | $12,361,716 | $4,288,663 |