Housing Development Corporation

Organization Overview

Housing Development Corporation is located in Hastings, NE. The organization was established in 1994. 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. As of 12/2022, Housing Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing 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 Development Corporation generated $516.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $415.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

HOUSING DEVELOPMENT CORPORATION IS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION 'CHDO'. HDC'S MISSION IS TO ASSIST LOW TO MODERATE INCOME HOUSEHOLDS TO OBTAIN AND MAINTAIN SAFE AND AFFORDABLE HOUSING WITHIN THE COUNTIES OF ADAMS, CLAY, HALL, NUCKOLLS, AND WEBSTER COUNTIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FORGIVENESS OF LIENS PLACED ON HOMES FOR DOWN PAYMENT ASSISTANCE AND FOR OWNER OCCUPIED REHAB WHICH ARE FORGIVEN INCREMENTALLY OVER 10 OR MORE YEARS. IF A HOUSE SELLS BEFORE THE FORGIVENESS PERIOD, THE RECAPTURED FUNDS IS PROGRAM INCOME.


ALL OTHER HOUSING PROGRAM INCOME AND EXPENSES.


A PROGRAM WHICH DOES REHABILITATION WORK ON OWNER OCCUPIED HOMES. THE FUNDS TO PROVIDE THE WORK ARE IN THE FORM OF A FORGIVABLE LOAN OR AN INSTALLMENT LOAN BASED ON INCOME AND ABILITY TO REPAY. HDC OVERSEES THIS PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Michelle Callahan
Executive Di
$62,000
Tricia Allen
Vice Preside
$0
Laura Burkholder
Director
$0
Freddy Gabriel
Director
$0
Harold King
Director
$0
Rachelle Lipker
President
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $18,000
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$18,000
Total Program Service Revenue$549,191
Investment income $3,609
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$42,552
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 -$11,778
Miscellaneous Revenue$0
Total Revenue $516,470

Peer Organizations

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Reach For Your Potential Inc
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Ark Regional Services Inc
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Community Resources & Housing Development Corporation
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Residences At Eaton Senior Communities
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Hope Communities Inc
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Ponderosa Apartments Inc
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Rocky Mountain Mutual Housing Association Inc
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Assisi Homes-Batavia Apartments Inc
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Mercy Housing Wheaton Nfp
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Hover Village Inc
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Villages Ltd
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Mercy Properties California
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Assisi Homes-Jefferson Court Inc
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$2,893,780
Southeast Colorado Enterprise Development Inc
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$1,702,636
Immanuel Affordable Ii Inc
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Parade Park Homes Inc
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