Concord Housing Development Corp
- Assets
- $1.7m
- Revenue
- $408.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Acton, MA
- Founding
- 11/2008
- Data as of
- 06/2024
- EIN
- 61-1573215
Organization Overview
Concord Housing Development Corp is located in Acton, MA. The organization was established in 2008. 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. Concord Housing Development Corp 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 06/2024, Concord Housing Development Corp generated $408.2k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $40.0k during the year ending 06/2024. 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
THE CHDC IS A NON-PROFIT ORGANIZATION FOR THE PROVISION OF AFFORDABLE HOUSING FOR PERSONS OF LOW, MODERATE, AND MIDDLE INCOME AND OTHERS WHOSE NEEDS MAY BE IDENTIFIED FROM TIME TO TIME IN THE TOWN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHDC IS PURSUING THE DEVELOPMENT OF AFFORDABLE HOUSING IN WEST CONCORD ON PROPERTY DONATED TO THE CHDC IN 2013 BY THE STATE. THE LAND IS RESTRICTED TO AFFORDABLE HOUSING AND OPEN SPACE PURPOSES.
ALL OTHER EXPENSES
THE CHDC IS PURSUING THE DEVELOPMENT OF AFFORDABLE HOUSING AT ASSABET RIVER BLUFF WITH CMAHT AND THE TOWN OF CONCORD.
THE CHDC HAS A PROGRAM THAT PROVIDES QUALIFYING INDIVIDUALS WITH SMALL GRANTS FOR HEALTH AND SAFETY PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Andrews Clerk | OfficerTrustee | 0.5 | $0 |
Dan Drazen Director | Trustee | 0.5 | $0 |
Peter Lowitt Treasurer | OfficerTrustee | 0.5 | $0 |
Julie Mcclure Vice Preside | OfficerTrustee | 0.5 | $0 |
Lee Smith President | OfficerTrustee | 1.5 | $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 | $394,306 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $394,306 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,932 |
| 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 | $408,238 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,705 |
| 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 | $0 |
| 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 | $18,150 |
| 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 | $212 |
| 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 | $0 |
| Insurance | $2,300 |
| All other expenses | $0 |
| Total functional expenses | $39,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,572 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,356,909 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $299,410 |
| Total assets | $1,717,891 |
| Accounts payable and accrued expenses | $125 |
| Grants payable | $0 |
| Deferred revenue | $1,500 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $600,000 |
| Total liabilities | $601,625 |
| Net assets without donor restrictions | $816,856 |
| Net assets with donor restrictions | $299,410 |
| 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 | $1,717,891 |