Housing Development Corporation
- Assets
- $6.7m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 122
- Location
- Huntington, WV
- Founding
- 03/1998
- Data as of
- 12/2022
- 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. As of 12/2022, Housing Development Corporation employed 122 individuals. 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 12/2022, Housing Development Corporation generated $3.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $4.2m during the year ending 12/2022. While expenses have increased by 4.3% per year over the past 6 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
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 FAMALIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Ellis Vice Preside | Officer | 10 | $0 |
Tabitha Glenn Treasurer | Officer | 10 | $0 |
Mark Jarrett Secretary | Officer | 10 | $36,205 |
Francie Buchanan Director | Trustee | 2 | $0 |
Jt Combs Director | Trustee | 2 | $0 |
Andrew Dawson 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 | $3,479,449 |
| Investment income | $4,735 |
| 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 | $3,293,361 |
| 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. | $223,650 |
| Compensation of current officers, directors, key employees. | $187,445 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,835,056 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $611,981 |
| Payroll taxes | $215,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $116 |
| Office expenses | $12,749 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $593,825 |
| Travel | $2,321 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $60,084 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $374,975 |
| Insurance | $22,672 |
| All other expenses | $9,374 |
| Total functional expenses | $4,187,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,039 |
| Savings and temporary cash investments | $85,194 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $918,726 |
| 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 | $39,940 |
| Net Land, buildings, and equipment | $5,244,860 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $32,472 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,740,598 |
| Accounts payable and accrued expenses | $1,500,014 |
| Grants payable | $0 |
| Deferred revenue | $25,139 |
| 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 | $5,800,074 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,689 |
| Total liabilities | $7,372,916 |
| Net assets without donor restrictions | -$632,318 |
| 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 | $6,740,598 |