Milford Housing Development Corperation

Organization Overview

Milford Housing Development Corperation is located in Milford, DE. The organization was established in 1979. 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, Milford Housing Development Corperation employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milford Housing Development Corperation 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, Milford Housing Development Corperation generated $10.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $10.1m during the year ending 12/2021. While expenses have increased by 6.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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

THE MISSION OF THE MHDC IS TO PROVIDE DECENT, SAFE, AND AFFORDABLE HOUSING SOLUTIONS FOR PEOPLE OF MODEST MEANS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE AND MANAGE 189 LOW TO MODERATE INCOME HOUSING UNITS SUBSIDIZED BY HUD AND USDA-RD, GOVERNED BY HUD AND USDA REGULATIONS; TO PROVIDE ASSISTANCE TO INDIVIDUALS UNDER THE USDA SELF HELP HOUSING PROGRAM; TO REHABILITATE HOMES FOR SALE TO FAMILIES OF MODEST MEANS; TO PROVIDE CONSTRUCTION SERVICES TO ENTITIES PROVIDING HOUSING TO FAMILIES OF MODEST MEANS; TO MAINTAIN THE FINANCIAL AND COMPLIANCE RECORDS TO ENSURE THE FAMILIES OF MODEST MEANS ARE RECEIVING THE PROPER BENEFITS


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Board, Officers & Key Employees

Name (title)Compensation
David Moore
President
$160,564
Christina Stanley
Vice Preside
$131,804
Russell Huxtable
Vice Pres.
$123,846
Jennifer Kintz
Treasurer
$86,536
Nancy Choma
Director
$0
Joseph Herbert
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,276,719
All other contributions, gifts, grants, and similar amounts not included above$773,876
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,050,595
Total Program Service Revenue$8,917,342
Investment income $37,538
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$532,233
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,337,525

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Milford Housing Development Corperation has recieved totaling $5,000.

Awarding OrganizationAmount
Mary W Rawlins Memorial Tr

Wilmington, DE

PURPOSE: LOW INCOME HOUSING

$5,000
View Grant Recipient Profile

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