Affordable Housing Developers Incorporated
- Assets
- $9.4m
- Revenue
- $747.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Dickinson, ND
- Founding
- 03/1998
- Data as of
- 12/2023
- EIN
- 45-0448222
Organization Overview
Affordable Housing Developers Incorporated is located in Dickinson, ND. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Affordable Housing Developers Incorporated employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Affordable Housing Developers Incorporated 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, Affordable Housing Developers Incorporated generated $747.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 11.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AND BE DEDICATED TO THE DEVELOPMENT, PRESERVATION AND MANAGEMENT OF DECENT, SAFE AND AFFORDABLE HOUSING FOR LOWER INCOME HOUSEHOLDS IN NORTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING DEVELOPERS DEVELOPS MULTI-FAMILY HOUSING PROJECTS FOR LOW TO MODERATE INCOME HOUSEHOLDS THROUGHOUT NORTH DAKOTA BY UTILIZING FEDERAL, STATE AND LOCAL GRANT AND LOAN PROGRAMS DESIGNED TO PROMOTE HOUSING OPPORTUNITIES. AHDI MAY USE THESE FUNDS TO PURCHASE AND/OR REHABILITATE EXISTING AFFORDABLE HOUSING PROPERTIES AT RISK OF BEING LOST TO THE AFFORDABLE HOUSING INDUSTRY, OR BUILD NEW IN AREAS THAT ARE IN SHORT SUPPLY OF AFFORDABLE HOUSING.
AHDI OWNS 3 MULTI-FAMILY AFFORDABLE HOUSING PROPERTIES WITH 48 UNITS LOCATED IN WILLISTON, RUGBY, AND MANDAN, AHDI ALSO HAS OWNERSHIP IN 5 ADDITIONAL AFFORDABLE HOUSING PROPERTIES LOCATED IN HEBRON, NAPOLEON, ROLLA AND DICKINSON TOTALING 63 UNITS.
AHDI MANAGES AFFORDABLE MULTIFAMILY HOUSING PROGRAMS THAT UTILIZE A VARIETY OF SUBSIDY PROGRAMS INCLUDING RURAL DEVELOPMENT RENTAL ASSISTANCE, HUD HOME PROGRAM FUNDING AND NORTH DAKOTA HOUSING INCENTIVE FUNDS. THE 123 UNITS AHDI MANAGES ARE LOCATED ACROSS NORTH DAKOTA IN HEBRON, MANDAN, NAPOLEON, VELVA, ROLLA, RUGBY AND WILLISTON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Burlingame President | OfficerTrustee | 0.5 | $0 |
Emily Gran Vice-President | OfficerTrustee | 0.5 | $0 |
Fanchon Dugarm Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Chris Keller Board Member | Trustee | 0.5 | $0 |
Emily Schroeder Board Member | Trustee | 0.5 | $0 |
Cheryl Merck Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Dakota Enterprises Construction Services | 12/30/20 | $333,045 |
Hulsing And Associates Architectural Services | 12/30/20 | $102,151 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $38,337 |
| 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 | $38,337 |
| Total Program Service Revenue | $709,426 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $747,763 |
| 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. | $85,439 |
| Compensation of current officers, directors, key employees. | $21,360 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $156,780 |
| Pension plan accruals and contributions | $5,020 |
| Other employee benefits | $1,904 |
| Payroll taxes | $18,100 |
| Fees for services: Management | $30,900 |
| Fees for services: Legal | $5,261 |
| Fees for services: Accounting | $43,951 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,920 |
| Advertising and promotion | $1,576 |
| Office expenses | $49,487 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $518,634 |
| Travel | $10,231 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,250 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $160,519 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,181,886 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,798 |
| Savings and temporary cash investments | $468,122 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,518 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,351,842 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $86,958 |
| Net Land, buildings, and equipment | $4,941,739 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $83,934 |
| Other assets | $395,196 |
| Total assets | $9,433,107 |
| Accounts payable and accrued expenses | $323,455 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $40,457 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,343,912 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,707,824 |
| Net assets without donor restrictions | $2,663,283 |
| Net assets with donor restrictions | $62,000 |
| 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 | $9,433,107 |