Aha Development Corporation
- Assets
- $8.1m
- Revenue
- $807.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Auburn, NY
- Founding
- 09/2013
- Data as of
- 03/2024
- EIN
- 45-4171999
Organization Overview
Aha Development Corporation is located in Auburn, NY. The organization was established in 2013. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aha 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 03/2024, Aha Development Corporation generated $807.6k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $419.0k during the year ending 03/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
AHA DEVELOPMENT CORPORATION IS FORMED FOR THE PURPOSE OF CONDUCTING ACTIVITIES WHICH ARE EXCLUSIVELY CHARITABLE WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954, AS MAY BE AMENDED FROM TIME TO TIME, INCLUDING RELIEF OF THE POOR, DISTRESSED AND UNDERPRIVILEGED, AND PROMOTION OF SOCIAL WELFARE TO LESSEN COMMUNITY TENSION, ELIMINATE PREJUDICE AND DISCRIMINATION, AND COMBAT COMMUNITY DETERIORATION, SPECIFICALLY, THE BUSINESS PURPOSE TO ACHIEVE THE PUBLIC OR QUASI-PUBLIC OBJECTIVE OF PROVIDING ON A NOT-FOR-PROFIT BASIS, DECENT, AFFORDABLE HOUSING AND RELATED COMMUNITY SERVICES AND FACILITIES SPECIFICALLY DESIGNED TO MEET THE NEEDS AND REQUIREMENTS OF LOW INCOME FAMILIES AND INDIVIDUALS, BY DEVELOPING, ACQUIRING, CONSTRUCTING, RENOVATING, OPERATING, MAINTAINING, AND IMPROVING RENTAL HOUSING AND HOME OWNERSHIP OPPORTUNITIES FOR LOW INCOME FAMILIES AND INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND INVESTMENT IN AN 88-UNIT HOUSING PROJECT FOR LOW INCOME INDIVIDUALS. DEVELOPMENT, CONSTRUCTION, OPERATIONS, AND MAINTENANCE OF A 28-UNIT HOUSING PROJECT FOR HOMELESS FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trish Kerr Director | Trustee | 0 | $0 |
Barbara Lamphere President | OfficerTrustee | 0 | $0 |
Laurie Piccolo Director | Trustee | 0 | $0 |
Robert Napoli Vice President | OfficerTrustee | 0 | $0 |
Sara Douglass Treasurer | OfficerTrustee | 0 | $0 |
Karen Macier Secretary | OfficerTrustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $740,131 |
| Investment income | $67,516 |
| 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 | $807,647 |
| 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 | $38,658 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,482 |
| Payroll taxes | $0 |
| Fees for services: Management | $15,120 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,900 |
| 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 | $2,179 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,238 |
| Insurance | $32,193 |
| All other expenses | $29,041 |
| Total functional expenses | $418,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,917,657 |
| 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 | $28,076 |
| Net Land, buildings, and equipment | $4,757,264 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,389,446 |
| Total assets | $8,092,443 |
| Accounts payable and accrued expenses | $13,531 |
| 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 | $6,305,582 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,126 |
| Total liabilities | $6,346,239 |
| Net assets without donor restrictions | $1,746,204 |
| 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 | $8,092,443 |