Metropolitan Housing Development Corporation
- Assets
- $1.5m
- Revenue
- $97.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Chicago, IL
- Founding
- 04/1995
- Data as of
- 06/2023
- EIN
- 36-2657340
Organization Overview
Metropolitan Housing Development Corporation is located in Chicago, IL. The organization was established in 1995. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Metropolitan 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 06/2023, Metropolitan Housing Development Corporation generated $97.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (40.6%) each year. All expenses for the organization totaled $248.1k during the year ending 06/2023. 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
TO PROVIDE HOUSING FACILITIES FOR PERSONS OF LOW AND MODERATE INCOME
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT, SYNDICATION, MANAGEMENT OF LOW INCOME HOUSING, AND DEPRECIATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Gonzalez President | OfficerTrustee | 20 | $104,500 |
F Willis Caruso Chairman | OfficerTrustee | 0 | $0 |
Diana Rosario Secretary/treasurer | OfficerTrustee | 0 | $0 |
J Damian Ortiz Director | Trustee | 0 | $0 |
Robert Lopez Director | Trustee | 0 | $0 |
Christina Saldana Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michael Fiandaca Professional Fees | 6/29/21 | $113,146 |
Gregory Stec Professional Fees | 6/29/21 | $113,146 |
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 | $5,608 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $51,666 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $97,051 |
| 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. | $104,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,927 |
| Payroll taxes | $7,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,915 |
| 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 | $7,993 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,356 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,783 |
| Insurance | $475 |
| All other expenses | $1,551 |
| Total functional expenses | $248,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,337 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $364 |
| Net Land, buildings, and equipment | $43,936 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,245,347 |
| Total assets | $1,477,984 |
| Accounts payable and accrued expenses | $4,249 |
| 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 | $65 |
| Unsecured mortgages and notes payable | $192,431 |
| Other liabilities | $14,025 |
| Total liabilities | $210,770 |
| Net assets without donor restrictions | $1,267,214 |
| 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 | $1,477,984 |