Homefront Development Corporation
- Assets
- $1.1m
- Revenue
- $923.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Hudson Falls, NY
- Founding
- 01/1990
- Data as of
- 06/2021
- EIN
- 14-1713617
Organization Overview
Homefront Development Corporation is located in Hudson Falls, NY. The organization was established in 1990. 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. As of 06/2021, Homefront Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homefront 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 06/2021, Homefront Development Corporation generated $923.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $965.3k during the year ending 06/2021. While expenses have increased by 16.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF HOMEFRONT DEVELOPMENT CORPORATION TO ASSIST LOW TO MODERATE INCOME HOMEOWNERS THROUGH HOUSING REHABILITATION, EMERGENCY HOME REPAIR PROGRAMS, AND MANAGEMENT OF AFFORDABLE SENIOR RENTAL HOUSING IN WASHINGTON AND WARREN COUNTIES AND TO SERVE AS A RESOURCE FOR COMMUNITY DEVELOPMENT PROGRAMS IN WASHINGTON COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOME PROGRAM AND AFFORDABLE HOUSING CORPORATION (AHC) PROGRAM ARE HOUSING REHABILITATION PROGRAMS FOR LOW-INCOME SINGLE-FAMILY HOMEOWNERS. BOTH PROGRAMS ARE USED TOGETHER TO LEVERAGE FUNDS FOR HOME REHABILITATION PROJECTS OF UP TO $45,000 PER HOUSEHOLD. AT THE CLOSE OF EACH PROJECT, A DEFERRED LOAN AGREEMENT FOR TEN YEARS IS RECORDED AT THE WASHINGTON COUNTY CLERK'S OFFICE. ASSISTANCE WAS PROVIDED TO 15 INDIVIDUALS THROUGH THIS PROGRAM DURING THE YEAR ENDED JUNE 30, 2021.
OTHER PROGRAM SERVICES, INCLUDING RESIDENTIAL EMERGENCY SERVICES TO OFFER REPAIRS TO THE ELDERLY (RESTORE), WHICH ASSISTED 12 INDIVIDUALS.
AUSTIN PERRY CORNERS (APC), WESTFIELD HIGHTS (WFH), AND LUFKIN COMMONS (LC) ARE PROJECTS ESTABLISHED TO DEVELOP UNITS OF LOW-INCOME RENTAL HOUSING. THESE UNITS ARE RENTED TO SENIOR CITIZENS WITH INCOME AT 50% OF MEDIAN INCOME OR BELOW. HOMEFRONT IS RESPONSIBLE FOR OPERATION AND MAINTENANCE OF THE BUILDING. THE PROJECTS ARE LOCATED IN THE NEW YORK COUNTIES OF WASHINGTON AND WARREN.
MOBILE AND MANUFACTURED HOME REPLACEMENT PROGRAM (MMHR) WAS ESTABLISHED TO ASSIST LOW- AND MODERATE-INCOME HOMEOWNERS TO REPLACE DILAPIDATED MOBILE OR MANUFACTURED HOMES THAT ARE SITED ON LAND OWNED BY THE HOMEOWNER WITH A NEW MANUFACTURED, MODULAR OR SITE-BUILT HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Chadwick Director | Trustee | 1 | $0 |
Brian Gilchrist President | Officer | 1 | $0 |
Vivian Gauger Secretary | Officer | 1 | $0 |
Karen Dougherty Treasurer | Officer | 1 | $0 |
Virginia Sullivan Treasurer | Officer | 1 | $0 |
Gina Cantanucci-Mitchell Vice President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $735,219 |
| Investment income | $18 |
| 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 | $923,550 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $591,728 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $62,603 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,349 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,108 |
| Payroll taxes | $6,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,882 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,481 |
| Office expenses | $2,254 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,719 |
| Travel | $842 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $50,754 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,229 |
| Insurance | $14,344 |
| All other expenses | $0 |
| Total functional expenses | $965,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,114 |
| Savings and temporary cash investments | $5,507 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $179,258 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,430 |
| Total assets | $1,119,109 |
| Accounts payable and accrued expenses | $66,790 |
| Grants payable | $0 |
| Deferred revenue | $2,191 |
| 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 | $715,715 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $113,448 |
| Total liabilities | $898,144 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $220,965 |