Coalition For Nonprofit Housing And Economic Development
- Assets
- $3.8m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Washington, DC
- Founding
- 05/1994
- Data as of
- 12/2021
- EIN
- 52-1750323
Organization Overview
Coalition For Nonprofit Housing And Economic Development, operating under the name Economic Development, is located in Washington, DC. The organization was established in 1994. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Economic Development employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development 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, Economic Development generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.5% each year . All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 14.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CNHED HAS ACHIEVED SUCCESSES THAT COMBINES EFFECTIVE ADVOCACY, POLICY MAKING, PUBLIC EDUCATION, CAPACITY BUILDING, INFORMATION AND ANALYSIS, AND ENGAGES MEMBERS AND ALLIES IN A PRACTICAL MANNER TO HELP ENSURE THAT LOW-INCOME RESIDENTS HAVE HOUSING AND ECONOMIC OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A 501(C)(3) MEMBER ASSOCIATION FOUNDED IN 1991 THAT LEADS AND SUPPORTS THE COMMUNITY DEVELOPMENT FIELD IN WASHINGTON, DC. CNHEDS 140 ORGANIZATIONAL MEMBERS INCLUDE NONPROFIT AND FOR-PROFIT AFFORDABLE HOUSING DEVELOPERS, HOUSING COUNSELING AND SERVICE AGENCIES, COMMUNITY ECONOMIC DEVELOPMENT ORGANIZATIONS, WORKFORCE AND BUSINESS DEVELOPMENT ENTITIES, LENDERS, INTERMEDIARIES AND GOVERNMENT AGENCIES.
THE DC COMMUNITY ANCHOR PARTNERSHIP (DCAP) IS A COLLABORATIVE OF PROMINENT ANCHOR INSTITUTIONS COMMITTED TO LEVERAGING THEIR OPERATIONS TO ADVANCE EQUITABLE ECONOMIC DEVELOPMENT IN THE DISTRICT OF COLUMBIA. AN INITIATIVE OF CNHED, DCAP BRINGS TOGETHER A NETWORK OF DC HEALTH SYSTEMS AND UNIVERSITIES DEDICATED TO USING THEIR PROCUREMENT POWER TO INCREASE MARKET OPPORTUNITIES FOR DC MINORITY-OWNED BUSINESSES (DC MBES).
NATIONALLY RECOGNIZED HOUSING FOR ALL CAMPAIGNED GENERATED POLITICAL WILL FOR THE DISTRICT TO INVEST MORE THAN $1 BILLION FOR THE HOUSING PRODUCTION TRUST FUND FROM FY2001- FY2019. TO THIS DATE, AS RESULTED IN THE ACQUISTION PRODUCTION OR PRESERVATION OF MORE THAN 10 THOUSAND AFFORABLE HOMES WITH OVER 3,000 HOMES IN THE PIPELINE. ON THE ECONOMIC DEVELOPMENT, CNHED PROVIDED TECHNICAL ASSISTANCE TO THE COUNCIL AND CRAFT THE DISTRICT'S FIRST LOW INCOME HOUSING TAX CREDIT WHICH HAS FUNDED AT 1 MILLION ANNUALLY. THOUGH IT IS AWAITING REGULATION TO BE IMPLEMENTED, CNHED'S ADVOCACY RESULTED IN THE APPROPRIATION OF 14.5 MILLION INCLUDING IN THE 2010 - 2016 BUDGET FOR SMALL BUSINESSES TECHNICAL ASSISTANCE. THESE FUNDS ARE USED TO ASSISTS UP TO 3,000 SMALL BUSINESSES ANNUALLY.
CNHED ADMINISTERS OTHER PROGRAMS THAT ADDRESS THE NEEDS AND ASPIRATIONS OF LOW- AND MODERATE-INCOME DISTRICT RESIDENTS. ONE SUCH PROGRAM IS THE DC LANDLORD PARTNERSHIP FUND, WHICH INCENTIVIZES LANDLORDS OF FAMILIES OR INDIVIDUALS WHO ARE EXITING HOMELESSNESS AND WHO RECEIVE RENTAL ASSISTANCE THROUGH CERTAIN DHS PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Glaude President And CEO | Officer | 40 | $178,116 |
Phillip Hecht Chair | OfficerTrustee | 4 | $0 |
Olive Idehen Vice Chair | OfficerTrustee | 4 | $0 |
Harold Pettigrew Secretary | OfficerTrustee | 4 | $0 |
Martin Mellet Treasurer | OfficerTrustee | 4 | $0 |
Lelia Finucane Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Johnson Cooper Consulting Consultant For Dcap Deliverables | 12/30/21 | $210,385 |
George Washington University Consultant For Elevate Program | 12/30/21 | $102,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $50,004 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $510,285 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,520,853 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,081,142 |
| Total Program Service Revenue | $0 |
| Investment income | $566 |
| 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 | $4,090,125 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,483 |
| 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. | $936,319 |
| Compensation of current officers, directors, key employees. | $151,938 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,907 |
| Pension plan accruals and contributions | $35,874 |
| Other employee benefits | $95,551 |
| Payroll taxes | $89,392 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $493,731 |
| Advertising and promotion | $0 |
| Office expenses | $85,423 |
| Information technology | $9,722 |
| Royalties | $0 |
| Occupancy | $161,704 |
| Travel | $7,525 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,585 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,147 |
| Insurance | $10,076 |
| All other expenses | $0 |
| Total functional expenses | $2,198,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,533,910 |
| Savings and temporary cash investments | $446,850 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $799,765 |
| 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 | $30,335 |
| Net Land, buildings, and equipment | $35,027 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,845,887 |
| Accounts payable and accrued expenses | $119,008 |
| Grants payable | $0 |
| Deferred revenue | $25,172 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $71,067 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $49,331 |
| Total liabilities | $264,578 |
| Net assets without donor restrictions | $207,684 |
| Net assets with donor restrictions | $3,373,625 |
| 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 | $3,845,887 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Coalition For Nonprofit Housing And Economic Development has recieved totaling $3,273,000.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $1,000,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $500,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $450,000 |
Capital Impact Partners Arlington, VA PURPOSE: COALITION FOR NONPRO-EOCF2.0 SUBGRANT-2021-2024 | $250,000 |
Citi Foundation New York, NY PURPOSE: COMMUNITY PROGRESS MAKERS | $250,000 |
Citi Foundation New York, NY PURPOSE: COMMUNITY PROGRESS MAKERS | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dogwood Housing Inc North Bethesda, MD | $86,669,090 | $22,202,788 |
Abraham And Laura Lisner Home For Aged Women Washington, DC | $22,620,580 | $13,905,589 |
National Low Income Housing Coalition And Low Income Housing Washington, DC | $13,467,381 | $12,702,610 |
National Foundation For Affordable Housing Solutions Inc North Bethesda, MD | $263,616,606 | $53,198,670 |
Magnolia Housing Inc North Bethesda, MD | $6,233,975 | $1,178,678 |
Prologue Inc Baltimore, MD | $8,569,201 | $6,794,698 |
Jubilee Housing Inc Washington, DC | $81,340,567 | $5,811,871 |
Mason Housing Inc Fairfax, VA | $24,839,248 | $3,905,662 |
The House Inc Woodbridge, VA | $1,787,552 | $4,341,712 |
Skyline Cap Inc Madison, VA | $2,055,888 | $2,989,261 |
National Breast Cancer Coalition Fund Washington, DC | $4,829,949 | $4,285,005 |
Williams Home Incorporated Lynchburg, VA | $28,337,965 | -$2,240,201 |