Hispanic Housing Development Corp
- Assets
- $70.1m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 343
- Location
- Chicago, IL
- Founding
- 02/1977
- Data as of
- 12/2023
- EIN
- 36-2889871
Organization Overview
Hispanic Housing Development Corp is located in Chicago, IL. The organization was established in 1977. 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 12/2023, Hispanic Housing Development Corp employed 343 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hispanic Housing Development Corp 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 12/2023, Hispanic Housing Development Corp generated $10.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $12.7m during the year ending 12/2023. While expenses have increased by 8.0% per year over the past 9 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.
Since 2015, Hispanic Housing Development Corp has awarded 28 individual grants totaling $1,202,355. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEIGHBORHOOD DEVELOPMENT THROUGH AFFORDABLE HOUSING AND OTHER REAL ESTATE PROJECTS.
Describe the Organization's Program Activity:
DEVELOPMENT OF REAL ESTATE PROJECTS DEDICATED TO MINORITY AND/OR ECONOMICALLY DISADVANTAGED INDIVIDUALS AND FAMILIES IN OTHERWISE DISTRESSED AREAS OF METROPOLITAN CHICAGO AND SUBURBAN AREAS OF ILLINOIS. PROVIDING FOR ECONOMIC DEVELOPMENT, AFFORDABLE HOUSING, URBAN RENEWAL AND REGENTRIFICATION.
MANAGEMENT OF AFFORDABLE HOUSING DEVELOPMENTS THAT ARE SPECIFICALLY DEDICATED TO THE PROVISION OF SAFE AND AFFORDABLE HOUSING FOR ECONOMICALLY DISADVANTAGED AND/OR MINORITY HOUSEHOLDS. RENTAL OF REHABILITATED BUILDINGS IN ECONOMICALLY DEPRESSED NEIGHBORHOODS TO VARIOUS SERVICE PROVIDERS. RESTORED OTHERWISE BLIGHTED BUILDINGS TO PRODUCTIVE USE, ENHANCED THE ECONOMIC DEVELOPMENT OPPORTUNITIES IN THE SURROUNDING AREA AND ALLOWED FOR THE PROVISION OF A VARIETY OF NEEDED SOCIAL SERVICES TO THE IMMEDIATE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Slade Chairman | OfficerTrustee | 0.2 | $0 |
Hank Mendoza Vice Chairman | OfficerTrustee | 0.2 | $0 |
Richard Figueroa Treasurer | OfficerTrustee | 0.2 | $0 |
Sol Flores Secretary | OfficerTrustee | 0.2 | $0 |
Chuck Freiheit Director | Trustee | 0.2 | $0 |
Laritza Lopez Director | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Connect Search Llc Temporary Help Agency | 12/30/23 | $276,185 |
Designbridge Ltd Architect Services | 12/30/23 | $246,453 |
Miner Barnhill & Galland Legal Services | 12/30/23 | $206,445 |
Rafalo Corporation Rehab Services | 12/30/23 | $159,481 |
Urban Works Architect Services | 12/30/23 | $128,510 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $135,621 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $703,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $839,371 |
| Total Program Service Revenue | $7,464,348 |
| Investment income | $1,104,570 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $469,933 |
| Net Gain/Loss on Asset Sales | $652,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,459,966 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,791 |
| 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. | $1,502,577 |
| Compensation of current officers, directors, key employees. | $285,490 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,360,175 |
| Pension plan accruals and contributions | $354,257 |
| Other employee benefits | $0 |
| Payroll taxes | $456,211 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $221,039 |
| Fees for services: Accounting | $111,257 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,089,749 |
| Advertising and promotion | $0 |
| Office expenses | $532,754 |
| Information technology | $80,638 |
| Royalties | $0 |
| Occupancy | $373,223 |
| Travel | $10,997 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114,077 |
| Interest | $266,363 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $451,463 |
| Insurance | $399,463 |
| All other expenses | $0 |
| Total functional expenses | $12,665,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,170,509 |
| Savings and temporary cash investments | $172,328 |
| Pledges and grants receivable | $822,806 |
| Accounts receivable, net | $8,282,004 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $29,081,713 |
| Inventories for sale or use | $15,000 |
| Prepaid expenses and deferred charges | $201,277 |
| Net Land, buildings, and equipment | $18,542,959 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,764,909 |
| Total assets | $70,053,505 |
| Accounts payable and accrued expenses | $1,682,245 |
| Grants payable | $0 |
| Deferred revenue | $3,972,528 |
| Tax-exempt bond liabilities | $1,134,307 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,114,762 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,196,794 |
| Total liabilities | $30,100,636 |
| Net assets without donor restrictions | $39,709,777 |
| Net assets with donor restrictions | $243,092 |
| 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 | $70,053,505 |
Grants Awarded
Over the last fiscal year, Hispanic Housing Development Corp has awarded $17,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE PUERTO RICAN CULTURAL CENTER PURPOSE: GENERAL SUPPORT | $10,000 |
ROOSEVELT UNIVERSITY PURPOSE: GENERAL SUPPORT | $7,500 |