Housing Assistance Corporation
- Assets
- $21.3m
- Revenue
- $37.1m
- Investments
- $0.0
- Employees
- 138
- Location
- Hyannis, MA
- Founding
- 07/1976
- Data as of
- 06/2023
- EIN
- 23-7431255
Organization Overview
Housing Assistance Corporation is located in Hyannis, MA. The organization was established in 1976. 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 06/2023, Housing Assistance Corporation employed 138 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Assistance 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, Housing Assistance Corporation generated $37.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $36.2m during the year ending 06/2023. While expenses have increased by 2.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HAC'S MISSION IS TO PROMOTE AND IMPLEMENT THE RIGHT OF ALL PEOPLE ON CAPE COD AND THE ISLANDS TO OCCUPY SAFE AND AFFORDABLE HOUSING. TO ACHIEVE THIS GOAL, HAC HAS CONCENTRATED ITS MAJOR PROGRAMS AROUND RENTAL SUBSIDIES, SHELTER SERVICES, CONSUMER EDUCATION, AND RESIDENTIAL ENERGY EFFICIENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLIENT SERVICES - THE CLIENT SERVICES DIVISION WORKS WITH ELIGIBLE INDIVIDUALS AND FAMILIES IN MASSACHUSETTS TO PROVIDE A WIDE RANGE OF AFFORDABLE HOUSING, HOMELESSNESS PREVENTION AND SHELTER AND SELF-SUFFICIENCY SERVICES. THESE SERVICES INCLUDE HOUSING ASSISTANCE PAYMENTS FOR LOW INCOME TENANTS, TRANSITIONAL HOUSING AND ASSISTANCE FOR THE HOMELESS INCLUDING HOUSING SEARCH AND JOB PLACEMENT, AND TRAINING AND SUPPORT FOR HOMEOWNERS INCLUDING FORECLOSURE COUNSELING.
ENERGY EFFICIENCY SERVICES - THE ENERGY EFFICIENCY SERVICES DIVISION WORKS WITH ELIGIBLE INDIVIDUALS AND FAMILIES IN MASSACHUSETTS TO PROVIDE A WIDE RANGE OF ENERGY IMPROVEMENTS OPTIONS. THESE OPTIONS INCLUDE FREE ENERGY ASSESSMENTS, HOME WEATHERIZATION AND ENERGY EFFICIENT APPLIANCES AND HEATING.
PROPERTY MANAGEMENT AND DEVELOPMENT - THE PROPERTY MANAGEMENT AND DEVELOPMENT DIVISION OVERSEES THE OPERATIONS OF ALL RESIDENTIAL RENTAL PROPERTIES, AS WELL AS DEVELOPMENT ACTIVITY, TO ITS PROPERTIES LOCATED ON CAPE COD AND THE ISLANDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Bogdanovich Chairman | OfficerTrustee | 1 | $0 |
Peter Freeman Vice Chairman | OfficerTrustee | 1 | $0 |
Liam Cahill Treasurer | OfficerTrustee | 1 | $0 |
Ashley Moore Baker Clerk | OfficerTrustee | 1 | $0 |
Cliff Carroll Director | Trustee | 1 | $0 |
Cathy Gibson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crane Appliance Energy Contractor | 6/29/23 | $511,527 |
Cape Save Energy Contractor | 6/29/23 | $348,205 |
M T Mcmahon & Soninc Energy Contractor | 6/29/23 | $302,615 |
Living Water Restoration Energy Contractor | 6/29/23 | $300,775 |
Frontier Energy Energy Contractor | 6/29/23 | $231,592 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $371,259 |
| Related organizations | $0 |
| Government grants | $29,917,745 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,449,183 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,738,187 |
| Total Program Service Revenue | $4,285,370 |
| Investment income | $45,994 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,847 |
| Net Income from Fundraising Events | -$18,957 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,056,441 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $23,407,228 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $496,979 |
| Compensation of current officers, directors, key employees. | $496,979 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,556,292 |
| Pension plan accruals and contributions | $141,901 |
| Other employee benefits | $1,669,146 |
| Payroll taxes | $576,879 |
| Fees for services: Management | $6,335 |
| Fees for services: Legal | $90,523 |
| Fees for services: Accounting | $29,566 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $923,870 |
| Advertising and promotion | $15,626 |
| Office expenses | $194,630 |
| Information technology | $218,275 |
| Royalties | $0 |
| Occupancy | $1,123,507 |
| Travel | $82,266 |
| 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 | $525,288 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $36,207,096 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $737,282 |
| Savings and temporary cash investments | $1,098,041 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,348,685 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $68,513 |
| Prepaid expenses and deferred charges | $51,397 |
| Net Land, buildings, and equipment | $11,430,406 |
| Investments—publicly traded securities | $2,989,354 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,605,489 |
| Total assets | $21,329,167 |
| Accounts payable and accrued expenses | $1,176,973 |
| Grants payable | $0 |
| Deferred revenue | $259,251 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $62,833 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,777,659 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,777,089 |
| Total liabilities | $10,053,805 |
| Net assets without donor restrictions | $10,496,591 |
| Net assets with donor restrictions | $778,771 |
| 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 | $21,329,167 |