York Area Development Corporation
- Assets
- $2.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 5
- Location
- York, PA
- Founding
- 09/2008
- Data as of
- 06/2023
- EIN
- 23-2022702
Organization Overview
York Area Development Corporation is located in York, PA. The organization was established in 2008. 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 06/2023, York Area Development Corporation employed 5 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. York Area 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 06/2023, York Area Development Corporation generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $1.8m during the year ending 06/2023. While expenses have increased by 10.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIVES AND COMMUNITIES BY ADVOCATING FOR, CREATING, AND SUSTAINING AFFORDABLE HOUSING OPTIONS IN THE CITY AND COUNTY OF YORK, PA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNERSHIP AND OPERATION OF SUBSIDIZED APARTMENT RENTALS FOR QUALIFIED LOW-INCOME PERSONS. THE CORPORATION OWNED 79 RENTAL UNITS AS OF JUNE 30, 2023.
YORK AREA DEVELOPMENT CORPORATION IS A NON-PROFIT AFFORDABLE HOUSING PROVIDER, DEVELOPING RENTAL AND HOMEOWNERSHIP OPPORTUNITIES FOR LOW AND MODERATE-INCOME HOUSEHOLDS. YORK AREA DEVELOPMENT IS ALSO RECOGNIZED AS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Rosenau Chair | OfficerTrustee | 1.5 | $0 |
Kraig Hursh First Vice Chair | OfficerTrustee | 1.5 | $0 |
Casey Darling-Horan Second Vice Chair | OfficerTrustee | 1.5 | $0 |
Cheryl Yerger Secretary | OfficerTrustee | 0.5 | $0 |
Judy Mckee Assistant Secretary | OfficerTrustee | 0.5 | $0 |
Teresa Gregory Treasurer | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $720,698 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,554 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $803,252 |
| Total Program Service Revenue | $938,458 |
| Investment income | $14,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$118,491 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,637,908 |
| 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. | $97,354 |
| Compensation of current officers, directors, key employees. | $60,625 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $310,781 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $56,331 |
| Payroll taxes | $31,756 |
| Fees for services: Management | $64,500 |
| Fees for services: Legal | $1,592 |
| Fees for services: Accounting | $34,292 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,122 |
| Office expenses | $35,450 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $215,724 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42,549 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $113,645 |
| Insurance | $40,881 |
| All other expenses | $0 |
| Total functional expenses | $1,837,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $1,380,241 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $116,689 |
| 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 | $20,449 |
| Net Land, buildings, and equipment | $1,363,542 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,881,021 |
| Accounts payable and accrued expenses | $212,139 |
| Grants payable | $0 |
| Deferred revenue | $3,306 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $35,621 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,315,453 |
| Unsecured mortgages and notes payable | $31,769 |
| Other liabilities | $20,775 |
| Total liabilities | $3,619,063 |
| Net assets without donor restrictions | -$738,042 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,881,021 |