New Home Development Co Inc

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
John Hancock
Vice Chair
$0
Kylee Uran
Director
$0
Ginny Sterling
Secretary/treasurer
$0
Tim Bowling
Board Chair
$0
Mike Jacobs
Director
$0
Caren Bauer
Executive Director
$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

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