Housing Development Corporation Of
- Assets
- $5.3m
- Revenue
- $1.7m
- Investments
- $477.4k
- Employees
- 29
- Location
- Wilkesbarre, PA
- Founding
- 12/1989
- Data as of
- 12/2022
- EIN
- 23-2322175
Organization Overview
Housing Development Corporation Of is located in Wilkesbarre, PA. The organization was established in 1989. 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 12/2022, Housing Development Corporation Of employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Development Corporation Of 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 12/2022, Housing Development Corporation Of generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 5.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LOW AND MODERATE INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING DEVELOPMENT CORPORATION OF NORTHEASTERN PA ACQUIRES, DEVELOPS, AND CONSTRUCTS HOUSING, PRINCIPALLY FOR SALE TO ELIGIBLE LOW AND MODERATE INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Attorney Joseph Vullo Chairman | OfficerTrustee | 1 | $0 |
Eugene M Brady President Untill 11/1/22 | OfficerTrustee | 15 | $90,460 |
Fred F Lettieri Vice President/treasurer | OfficerTrustee | 1 | $0 |
Lynn Eckrote Board Member | Trustee | 1 | $0 |
Sandra Rostkowski Secretary | OfficerTrustee | 1 | $0 |
Tammy Hulsizer Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,406,514 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,409,014 |
| Total Program Service Revenue | $249,949 |
| Investment income | $21,716 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $40,000 |
| Net Gain/Loss on Asset Sales | -$5,162 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,715,517 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $881,357 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,432 |
| Compensation of current officers, directors, key employees. | $52,216 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $434,218 |
| Pension plan accruals and contributions | $106,030 |
| Other employee benefits | $0 |
| Payroll taxes | $43,549 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $506 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $723 |
| Office expenses | $4,149 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,837 |
| Travel | $15,800 |
| 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 | $143,161 |
| Insurance | $29,274 |
| All other expenses | $131 |
| Total functional expenses | $2,048,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,226,547 |
| Pledges and grants receivable | $410,058 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $413,776 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $161 |
| Net Land, buildings, and equipment | $2,763,482 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $477,364 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,291,388 |
| Accounts payable and accrued expenses | $66,653 |
| Grants payable | $0 |
| Deferred revenue | $2,461,909 |
| 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 | $0 |
| Total liabilities | $2,528,562 |
| Net assets without donor restrictions | $2,762,826 |
| 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 | $5,291,388 |