Mission First Housing Development Corporation
- Assets
- $36.6m
- Revenue
- $10.6m
- Investments
- $133.7k
- Employees
- 7
- Location
- Washington, DC
- Founding
- 08/2014
- Data as of
- 06/2021
- 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 06/2021, Mission First Housing Development Corporation employed 7 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 06/2021, Mission First Housing Development Corporation generated $10.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.1% each year . All expenses for the organization totaled $2.7m during the year ending 06/2021. 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
2021
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 |
|---|---|---|---|
Sarah Constant Managing Director | Officer | 37.5 | $231,326 |
Elizabeth Askew Everhart Senior Development Manager | 37.5 | $155,285 | |
Russel Johnson Vice Chair | OfficerTrustee | 0.3 | $0 |
Michael Davidson Chair | OfficerTrustee | 0.3 | $0 |
Mark Duffy Treasurer | OfficerTrustee | 0.3 | $0 |
Michael Simmons Secretary | OfficerTrustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,800,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $154,843 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,954,843 |
| Total Program Service Revenue | $5,313,403 |
| Investment income | $308,311 |
| 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 | $10,576,557 |
| 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. | $257,663 |
| Compensation of current officers, directors, key employees. | $55,414 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,310,504 |
| Pension plan accruals and contributions | $37,413 |
| Other employee benefits | $189,573 |
| Payroll taxes | $113,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,105 |
| Fees for services: Accounting | $50,751 |
| 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 | $18,281 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,366 |
| Travel | $1,005 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,127 |
| Interest | $119,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $21,450 |
| Total functional expenses | $2,688,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $402,142 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,171,799 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,334,632 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $586 |
| 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 | $8,592,861 |
| Total assets | $36,635,688 |
| Accounts payable and accrued expenses | $415,924 |
| 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 | $1,778,760 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,178,372 |
| Total liabilities | $13,373,056 |
| Net assets without donor restrictions | $10,113,590 |
| Net assets with donor restrictions | $13,149,042 |
| 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 | $36,635,688 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mission First Housing Development Corporation has recieved totaling $12.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nht Communities Washington, DC | $154,306,300 | $20,911,703 |
Project Plase Inc Baltimore, MD | $6,563,951 | $8,999,720 |
Ebed Community Improvement Inc Upper Marlboro, MD | $8,136,869 | $7,675,137 |
Lewinsville Retirement Residence McLean, VA | $23,915,511 | $4,142,115 |
Patricia And Mark Joseph Shelter Foundation Inc Baltimore, MD | $50,852,875 | $6,368,087 |
Affordable Housing Opportunities Inc Washington, DC | $42,188,796 | $3,175,376 |
Terrific Inc Washington, DC | $2,887,990 | $4,125,809 |
Dc Doors Washington, DC | $1,166,069 | $3,507,124 |
American Village Communities Inc Fairfax, VA | $15,020,871 | $7,566,152 |
Vacation Rental Management Association Washington, DC | $1,634,927 | $3,875,723 |
St Marys Roland View Towers Inc Baltimore, MD | $3,678,199 | $3,102,266 |
Christ Church Harbor Apt Inc Baltimore, MD | $11,375,374 | $4,194,430 |