Housing Association And Development Corp
- Assets
- $3.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 19
- Location
- Allentown, PA
- Founding
- 09/1986
- Data as of
- 06/2022
- EIN
- 23-2118810
Organization Overview
Housing Association And Development Corp is located in Allentown, PA. The organization was established in 1986. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Housing Association And Development Corp employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Association And Development Corp 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 06/2022, Housing Association And Development Corp generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 2.6% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ELIMINATE BLIGHTED HOUSING CONDITIONS IN THE CITY OF ALLENTOWN'S NEIGHBORHOODS AND TO INCREASE AVAILABILITY OF HOUSING OPPORTUNITIES FOR LOW INCOME RESIDENTS BY PURCHASING VACANT, DETERIORATED RESIDENTIAL PROPERTIES AND TOTALLY REHABILITATE THE UNITS FOR RESALE OR RENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASE VACANT, DETERIORATED RESIDENTIAL PROPERTIES WITHIN THE CITY OF ALLENTOWN AND TOTALLY REHABILITATE THE UNITS FOR RESALE TO LOW AND MODERATE INCOME LEVEL INDIVIDUALS AND FAMILIES.
RENTING REHABILITATED PROPERTIES TO SECTION 8 ELIGIBLE MODERATE INCOME INDIVIDUALS AND FAMILIES.
THE ORGANIZATION RUNS A LOCAL YOUTHBUILD PROGRAM TO SERVE AT LEAST 20 OUT-OF-SCHOOL YOUTH BETWEEN THE AGES OF 17-24. THE PROGRAM PROVIDES EDUCATIONAL TRAINING TO OBTAIN A GED, JOB SITE TRAINING IN CONSTRUCTION TO PROVIDE SKILLED TRAINING AND JOB PREPAREDNESS, LIFE SKILLS COACHING, LEADERSHIP DEVELOPMENT AND ONE-ON-ONE CASE MANAGEMENT AND COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Sherwin Treasurer | OfficerTrustee | 2 | $0 |
Kenneth Remick President | OfficerTrustee | 2 | $0 |
Rev Richard Baumann Director | Trustee | 2 | $0 |
Dr John Cooney Director | Trustee | 2 | $0 |
Rev John Gibbons Director | Trustee | 2 | $0 |
Daniel C Bosket Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $166,135 |
| All other contributions, gifts, grants, and similar amounts not included above | $600,740 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $766,875 |
| Total Program Service Revenue | $733,734 |
| Investment income | $5,129 |
| 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 | $1,505,738 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $243,740 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $107,010 |
| Payroll taxes | $47,142 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,012 |
| Advertising and promotion | $0 |
| Office expenses | $22,442 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,712 |
| Travel | $570 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $96,673 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,617 |
| Insurance | $50,357 |
| All other expenses | $44,383 |
| Total functional expenses | $1,547,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,660 |
| Savings and temporary cash investments | $178,159 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,155 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,682 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,672,811 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $495,000 |
| Intangible assets | $0 |
| Other assets | $428,723 |
| Total assets | $2,961,190 |
| Accounts payable and accrued expenses | $97,203 |
| 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 | $2,645,181 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $583,789 |
| Total liabilities | $3,326,173 |
| Net assets without donor restrictions | -$402,151 |
| Net assets with donor restrictions | $37,168 |
| 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 | $2,961,190 |