New Home Development Co Inc
- Assets
- $3.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 24
- Location
- Bryan, OH
- Founding
- 11/1991
- Data as of
- 06/2023
- EIN
- 34-1674869
Organization Overview
New Home Development Co Inc is located in Bryan, OH. The organization was established in 1991. 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, New Home Development Co Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Home Development Co Inc 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, New Home Development Co Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $817.4k during the year ending 06/2023. While expenses have increased by 5.9% 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
NHDC OFFERS AFFORDABLE HOUSING OPTIONS FOR PERSONS WITH LOW TO MODERATE INCOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW HOME DEVELOPMENT COMPANY, INC. (NHDC) OFFERS AFFORDABLE HOUSING OPTIONS FOR PERSONS WITH NO TO MOEDERATE INCOMES. NHDC CURRENTLY OWNS 56 HOUSING UNITS THAT HAVE BEEN ACQUIRED THROUGH GRANTS AND MORTGAGES. RENTS CHARGED ARE BASED ON 30-35% OF HOUSEHOLD INCOME. NHDC ALSO ADMINISTERS A RENT SUBSIDY PROGRAM. NHDC MAY ASSIST WITH EMERGENCY ASSISTANCE WHEN FUNDING IS AVAILABLE. NHDC MAY RENT TO PERSONS WITH $0 INCOME WHO PAY $0 FOR RENT ON A TEMPORARY BASIS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Hancock Vice Chair | OfficerTrustee | 1 | $0 |
Kylee Uran Director | Trustee | 1 | $0 |
Ginny Sterling Secretary/treasurer | OfficerTrustee | 1 | $0 |
Tim Bowling Board Chair | OfficerTrustee | 1 | $0 |
Mike Jacobs Director | Trustee | 1 | $0 |
Caren Bauer Executive Director | Officer | 40 | $86,540 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $56,964 |
| All other contributions, gifts, grants, and similar amounts not included above | $336,895 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $393,859 |
| Total Program Service Revenue | $701,421 |
| Investment income | $994 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $81,603 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,231,703 |
| 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. | $99,746 |
| Compensation of current officers, directors, key employees. | $59,848 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $349,841 |
| Pension plan accruals and contributions | $4,653 |
| Other employee benefits | $10,697 |
| Payroll taxes | $40,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $2,441 |
| Advertising and promotion | $1,265 |
| Office expenses | $8,564 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,645 |
| Travel | $8,993 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,586 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,415 |
| Insurance | $22,000 |
| All other expenses | $0 |
| Total functional expenses | $817,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,439 |
| Savings and temporary cash investments | $200,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,418 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,089 |
| Net Land, buildings, and equipment | $2,421,953 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,985,899 |
| Accounts payable and accrued expenses | $38,930 |
| 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 | $833,936 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,499 |
| Total liabilities | $886,365 |
| Net assets without donor restrictions | $2,099,534 |
| 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 | $2,985,899 |