Housing Development Corporation Midatlantic

Organization Overview

Housing Development Corporation Midatlantic is located in Lancaster, PA. The organization was established in 2011. 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 Midatlantic employed 167 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Development Corporation Midatlantic 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 Midatlantic generated $11.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $11.3m during the year ending 12/2021. While expenses have increased by 4.2% 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

HDC'S MISSION IS TO MANAGE AND DEVELOP QUALITY AFFORDABLE HOUSING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HDC'S PROPERTY MANAGEMENT SERVICES HAS:-SOLID TRACK RECORD OF FINANCIAL RESULTS AND PERFORMANCE-DEDICATED STAFF ENSURING QUALIFIED RESIDENT SELECTION-LICENSED PROFESSIONAL ON-SITE MANAGERS AND EXPERIENCED MAINTENANCE STAFF ON CALL 24 HOURS A DAYHDC PROVIDES LICENSED, PROPERTY MANAGEMENT SERVICES WITH STATE-OF-THE-ART PRACTICES AND SUPERIOR STANDARDS.


HDC'S REAL ESTATE DEVELOPMENT SERVICES FOCUS ON:-MANAGING ON-TIME AND ON-BUDGET NEW CONSTRUCTION WITH A FOCUS ON RENEWABLE ENERGY-PRESERVING HISTORIC OR TROUBLED PROPERTIES THROUGH ACQUISITIONS AND REHABILITATION-CAPITALIZING ON MULTIPLE FINANCING SOURCESTHROUGH ADAPTIVE RE-USE OF OBSOLETE BUILDINGS, PROPERTY REHABILITATION AND NEW CONSTRUCTION, HDC WORKS WITH COMMUNITIES TO FULFILL THEIR DEVELOPMENT OBJECTIVES. STRONG SUPPORT FROM LENDING INSTITUTIONS AS WELL AS PUBLIC AND PRIVATE PARTNERS HAS ALLOWED HDC TO PURSUE THIS PURPOSE AGGRESSIVELY.HDC'S REAL ESTATE DEVELOPMENT TEAM APPROACHES EACH PROJECT WITH THE UNDERSTANDING THAT HDC WILL BE INVOLVED IN THE PRESERVATION OF OWNERSHIP. WITH THAT IN MIND, DECISIONS ON DESIGN AND PRODUCTS ARE MADE WITH ATTENTION TO LONG-TERM MAINTENANCE, OPERATIONAL EFFICIENCY, AND RESIDENT SATISFACTION.


HDC'S RESIDENT SERVICES:-STRENGTHEN THE MENTAL, PHYSICAL, FINANCIAL AND EMOTIONAL HEALTH OF OUR RESIDENTS AND COMMUNITIES-TRAINED RESIDENT SERVICES COORDINATORS ADVOCATE AND CONNECT RESIDENTS TO RESOURCES-CONTRIBUTES TO SELF-SUFFICIENCY AND LONG-TERM STABILITY FOR RESIDENTSTHE RESIDENT SERVICES DEPARTMENT PROVIDES ACCESS TO INFORMATION AND SERVICES TO ENCOURAGE GROWTH, INDEPENDENCE, AND STABILITY IN THE COMMUNITIES SERVED.


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Board, Officers & Key Employees

Name (title)Compensation
Dana Hanchin
President/ceo
$240,000
Claude Hicks
Director Of Real Estate De
$186,666
Sharlene Woodruff
CFO
$133,978
Diane Elliot
Chairman
$0
Angela Steele
Vice Chair
$0
Michael Schober
Secretary
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Yardi Systems
Computer Hosting And Application Service
$246,713
Joseph Development Inc
Human Resource Management Services
$107,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,967,984
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,967,984
Total Program Service Revenue$9,384,454
Investment income $288,755
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 $11,939,671

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Housing Development Corporation Midatlantic has recieved totaling $24,358.

Awarding OrganizationAmount
Lancaster County Community Foundation

Lancaster, PA

PURPOSE: DESIGNATED FOR GENERAL OPERATING SUPPORT, CBO CAPACITY BUILDING PROGRAM

$24,358
View Grant Recipient Profile

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