Housing Opportunity Development Corporation
- Assets
- $15.9m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 29
- Location
- Skokie, IL
- Founding
- 10/1984
- Data as of
- 12/2022
- EIN
- 36-3237455
Organization Overview
Housing Opportunity Development Corporation is located in Skokie, IL. The organization was established in 1984. 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 12/2022, Housing Opportunity Development Corporation employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Opportunity 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 Opportunity Development Corporation generated $2.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 10.1% 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
TO PROVIDE LOW-COST AND/OR RENT SUBSIDIZED HOUSING TO LOW/MODERATE INCOME CITIZENS IN THE NORTH SUBURBAN COMMUNITIES OF CHICAGO IN COOK AND LAKE COUNTIES, ILLINOIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOW COST/RENT SUBSIDIZED HOUSING TO LOW INCOME CITIZENS IN COMMUNITIES IN THE NORTHERN SUBURBS OF METROPOLITAN CHICAGO
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 |
|---|---|---|---|
Otis Gatlin Director | Trustee | 1 | $0 |
Nancy A Geary Director | Trustee | 1 | $0 |
Kierra Harris Director | Trustee | 1 | $0 |
Deana Haynes Director | Trustee | 1 | $0 |
Jack Kaplan Director | Trustee | 1 | $0 |
Chealon Ann Shears Director | Trustee | 1 | $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 | $449,759 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $449,759 |
| Total Program Service Revenue | $1,424,332 |
| Investment income | $164,281 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $156,551 |
| 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 | $2,194,923 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,255,279 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $86,859 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $107,247 |
| 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 | $26,508 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $138,321 |
| All other expenses | $65,946 |
| Total functional expenses | $2,116,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $887,411 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $60,315 |
| 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 | $0 |
| Net Land, buildings, and equipment | $7,052,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $155,971 |
| Other assets | $7,760,603 |
| Total assets | $15,916,660 |
| Accounts payable and accrued expenses | $32,478 |
| 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 | $3,665,747 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,120,233 |
| Total liabilities | $4,818,458 |
| Net assets without donor restrictions | $11,098,202 |
| 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 | $15,916,660 |