Metropolitan Housing Development Corporation
- Assets
- $4.1m
- Revenue
- $640.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Chicago, IL
- Founding
- 04/1995
- Data as of
- 12/2021
- EIN
- 20-2007127
Organization Overview
Metropolitan Housing Development Corporation is located in Chicago, IL. The organization was established in 1995. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Metropolitan Housing Development Corporation employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 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, Metropolitan Housing Development Corporation generated $640.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $741.4k during the year ending 12/2021. While expenses have increased by 2.6% 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
TO PROVIDE SENIORS WITH AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SENIOR AFFORDABLE HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ethel Manager President | OfficerTrustee | 0.5 | $0 |
Willie Nelson Vice President | OfficerTrustee | 0.5 | $0 |
Paul Korlapati Secretary And Treasurer | OfficerTrustee | 0.5 | $0 |
Richard Gonzalez General Manager | OfficerTrustee | 0.5 | $0 |
Dr Lucie Smith Director | Trustee | 0.5 | $0 |
Larry Mc Culley Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $36,402 |
| 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 | $36,402 |
| Total Program Service Revenue | $600,870 |
| Investment income | $613 |
| 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 | $640,115 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $135,382 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $47,125 |
| Payroll taxes | $9,483 |
| Fees for services: Management | $40,572 |
| Fees for services: Legal | $11,000 |
| Fees for services: Accounting | $4,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $31,477 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,718 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $137,990 |
| Insurance | $16,739 |
| All other expenses | $0 |
| Total functional expenses | $741,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,800 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,270 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,584,183 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $478,385 |
| Total assets | $4,085,638 |
| Accounts payable and accrued expenses | $42,146 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,521,986 |
| Total liabilities | $5,564,132 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | -$1,478,494 |
| Total liabilities and net assets/fund balances | $4,085,638 |
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|---|---|---|
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Jasper County Sheltered Facilities Association Joplin, MO | $6,892,857 | $15,950,127 |
Community Ventures In Living Ltd Lafayette, IN | $4,082,681 | $10,075,457 |
Community Action Of Greater Indianapolis Inc Indianapolis, IN | $3,236,158 | $6,334,161 |
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