Mission First Housing Development Corporation
- Assets
- $39.3m
- Revenue
- $6.4m
- Investments
- $133.7k
- Employees
- 8
- Location
- Washington, DC
- Founding
- 08/2014
- Data as of
- 06/2022
- EIN
- 27-1824650
Organization Overview
Mission First Housing Development Corporation is located in Washington, DC. The organization was established in 2014. 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 06/2022, Mission First Housing Development Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mission First Housing 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 06/2022, Mission First Housing Development Corporation generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $2.6m during the year ending 06/2022. 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
MFHDC DEVELOPS AFFORDABLE, SAFE AND SUSTAINABLE HOUSING IN THE MID-ATLANTIC REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE INVESTMENT AND DEVELOPMENT - DEVELOPMENT AND CONSTRUCTION OF DECENT, SAFE, AND PERMANENT INDEPENDENT HOUSING FOR INDIVIDUALS LIMITED BY SERIOUS, LONG-TERM, AND/OR CHRONIC DISABILITY OR HOMELESSNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Duffy Treasurer | OfficerTrustee | 0.3 | $0 |
Michael Simmons Secretary | OfficerTrustee | 0.3 | $0 |
Michael Davidson ESQ Chair | OfficerTrustee | 0.3 | $0 |
Russel Johnson Vice Chair | OfficerTrustee | 0.3 | $0 |
Harry G Dittmann Board Member | Trustee | 0.3 | $0 |
James Kilcoyne Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $564,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $614,400 |
| Total Program Service Revenue | $5,463,971 |
| Investment income | $368,887 |
| 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 | $6,447,258 |
| 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. | $237,257 |
| Compensation of current officers, directors, key employees. | $51,625 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,321,125 |
| Pension plan accruals and contributions | $18,831 |
| Other employee benefits | $179,498 |
| Payroll taxes | $106,469 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,663 |
| Fees for services: Accounting | $51,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $23,180 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $96,809 |
| Travel | $2,693 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $350 |
| Interest | $126,402 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $24,258 |
| Total functional expenses | $2,601,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $342,862 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,112,090 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,165,921 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,324 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $133,668 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,540,492 |
| Total assets | $39,296,357 |
| Accounts payable and accrued expenses | $299,968 |
| 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 | $1,869,683 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,460,896 |
| Total liabilities | $12,630,547 |
| Net assets without donor restrictions | $13,057,768 |
| Net assets with donor restrictions | $13,608,042 |
| 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 | $39,296,357 |