Housing Development Corporation
- Assets
- $7.6m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Huntington, WV
- Founding
- 03/1998
- Data as of
- 12/2021
- EIN
- 31-1526415
Organization Overview
Housing Development Corporation is located in Huntington, WV. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 12/2021, Housing Development Corporation generated $3.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $4.0m during the year ending 12/2021. While expenses have increased by 4.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AND ADVANCE DECENT, SAFE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPROVE AND REHABILITATE EXISTING HOUSING SO THAT LOW-INCOME, ELDERLY AND DISABLED INDIVIDUALS AND FAMILIES HAVE AN OPPORTUNITY FOR SAFE AND SANITARY HOUSING.
MANAGE RENTAL HOUSING FOR LOW-INCOME, ELDERLY AND DISABLED INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Jarrett Secretary | Officer | 10 | $37,611 |
Larry Ellis Vice President | Officer | 10 | $0 |
Tabitha Glenn Treasurer | Officer | 10 | $0 |
Charles Holley Chair | Trustee | 2 | $0 |
Andrew Dawson Director | Trustee | 2 | $0 |
Jt Combs Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,495,693 |
| Investment income | $57 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$64,895 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,802,833 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39 |
| 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. | $221,063 |
| Compensation of current officers, directors, key employees. | $183,452 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,936,720 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $630,503 |
| Payroll taxes | $184,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $165 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $174 |
| Office expenses | $9,779 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $391,707 |
| Travel | $5,170 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $54,794 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $387,571 |
| Insurance | $37,594 |
| All other expenses | $17,631 |
| Total functional expenses | $3,981,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,747 |
| Savings and temporary cash investments | $119,022 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,362,440 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $398,367 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,604 |
| Net Land, buildings, and equipment | $5,618,060 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $42,472 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,568,712 |
| Accounts payable and accrued expenses | $1,445,929 |
| 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 | $5,823,613 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $37,281 |
| Total liabilities | $7,306,823 |
| Net assets without donor restrictions | $261,889 |
| 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 | $7,568,712 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beyond Owners Group Inc Willow Street, PA | $131,731,512 | $8,827,345 |
People Incorporated Housing Group Abingdon, VA | $23,796,045 | $13,192,041 |
New Directions Housing Corporation Louisville, KY | $27,737,851 | $9,868,214 |
Habitat For Humanity International Inc Charlottesville, VA | $30,158,834 | $8,198,441 |
University Properties Inc East Stroudsburg, PA | $58,514,914 | $5,926,957 |
Cedar Lake Residences Inc Louisville, KY | $2,301,086 | $7,918,008 |
Echelon Housing Inc North Bethesda, MD | $23,861,150 | $4,416,757 |
Bridges Community Action Partnership Marysville, OH | $6,792,515 | $6,372,376 |
Rebuilding Together Pittsburgh Pittsburgh, PA | $2,584,527 | $5,910,311 |
Pennsylvania Community Real Estate Corporation Philadelphia, PA | $2,208,755 | $5,682,149 |
Central Ohio Community Land Trust Columbus, OH | $2,592,192 | $4,520,471 |
Comprehensive Housing Assistance Inc Baltimore, MD | $35,424,449 | $4,587,920 |