Northern Adirondack Housing Development Fund
- Assets
- $4.9m
- Revenue
- $479.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Malone, NY
- Founding
- 11/2013
- Data as of
- 12/2021
- EIN
- 45-5609097
Organization Overview
Northern Adirondack Housing Development Fund is located in Malone, 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. Northern Adirondack Housing Development Fund 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 12/2021, Northern Adirondack Housing Development Fund generated $479.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $676.7k during the year ending 12/2021. While expenses have increased by 8.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD, MANAGE, AND PRESERVE LOW INCOME AND AFFORDABLE HOUSING PROJECTS AND PROGRAMS THAT SERVE LOW-INCOME ELDERLY, DISABLED AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BUILD, MANAGE, AND PRESERVE LOW INCOME AND AFFORDABLE HOUSING PROJECTS AND PROGRAMS THAT SERVE LOW-INCOME ELDERLY, DISABLED AND FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil Seymour President | OfficerTrustee | 0.1 | $0 |
Debbie Maguire Vice President | OfficerTrustee | 0.1 | $0 |
Barry Webb Treasurer | OfficerTrustee | 0.1 | $0 |
Eileen Gillen Executive Dir. | Officer | 5 | $0 |
Andy Shrader Director | Trustee | 0.1 | $0 |
Michelle Schumcaher Director | Trustee | 0.1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $478,880 |
| Investment income | $94 |
| 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 | $478,974 |
| 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 | $62,353 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $83,575 |
| Advertising and promotion | $0 |
| Office expenses | $138 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,302 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,209 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $206,978 |
| Insurance | $55,963 |
| All other expenses | $96,287 |
| Total functional expenses | $676,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,863 |
| Savings and temporary cash investments | $751,522 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,364 |
| 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 | $4,052,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,930,616 |
| Accounts payable and accrued expenses | $20,018 |
| 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 | $5,716,886 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $246,802 |
| Total liabilities | $5,983,706 |
| Net assets without donor restrictions | -$1,053,090 |
| 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 | $4,930,616 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Builders Inc Boston, MA | $148,217,575 | $87,790,279 |
Doe Fund Inc New York, NY | $135,128,444 | $76,076,390 |
First Chinese Presbyterian Community Affairs Home Attendant C New York, NY | $26,741,134 | $40,973,137 |
Corporation For Supportive Housing New York, NY | $191,922,281 | $44,983,722 |
Community Options New York Inc Princeton, NJ | $30,057,554 | $34,330,215 |
Lantern Community Services Inc New York, NY | $8,603,902 | $30,172,757 |
Pathstone Corporation Rochester, NY | $88,645,469 | $21,347,590 |
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |