Lee County Housing Development Corporation
- Assets
- $1.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Myers, FL
- Founding
- 04/1992
- Data as of
- 09/2023
- EIN
- 65-0295038
Organization Overview
Lee County Housing Development Corporation is located in Fort Myers, FL. The organization was established in 1992. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Lee County 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 09/2023, Lee County Housing Development Corporation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $1.1m during the year ending 09/2023. While expenses have increased by 13.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION WAS FORMED TO PROVIDE LOW INCOME FAMILIES OF LEE COUNTY FLORIDA WITH AFFORDABLE HOUSING BY CONSTRUCTING AND PROVIDING NEEDED RESOURCES TO SUCH INDIVIDUALS WHO WOULD NOT BE ABLE TO AFFORD SUCH HOUSING FOR THEMSELVES OR THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL ASSISTANCE PROGRAM: THROUGHOUT THE YEAR, OUR RENTAL ASSISTANCE PROGRAM HAS BEEN A BEACON OF HOPE FOR NUMEROUS FAMILIES FACING HOUSING INSECURITY. WE PROVIDED VITAL SUPPORT TO OVER 156 FAMILIES, OFFERING VARIOUS FORMS OF ASSISTANCE TAILORED TO THEIR NEEDS. FROM RENTAL SUBSIDIES TO DIRECT FINANCIAL AID, WE ENSURED THAT EVERY INDIVIDUAL HAD ACCESS TO SAFE AND STABLE HOUSING. THE IMPACT OF THIS ASSISTANCE HAS BEEN PROFOUND, WITH MANY FAMILIES EXPERIENCING NEWFOUND STABILITY AND SECURITY IN THEIR HOMES.
REHABILITATION PROGRAM: OUR COMMITMENT TO REVITALIZING NEIGHBORHOODS AND PRESERVING AFFORDABLE HOUSING STOCK HAS BEEN EVIDENT IN OUR REHABILITATION EFFORTS. OVER THE PAST YEAR, WE EMBARKED ON A JOURNEY TO TRANSFORM PROPERTIES, UNDERTAKING EXTENSIVE REPAIRS AND RENOVATIONS TO ENHANCE SAFETY, ACCESSIBILITY, AND OVERALL QUALITY. THESE EFFORTS NOT ONLY IMPROVED THE LIVING CONDITIONS FOR RESIDENTS BUT ALSO BREATHED NEW LIFE INTO OUR COMMUNITIES. THROUGH ADHERENCE TO STRINGENT QUALITY STANDARDS AND REGULATIONS, WE ENSURED THAT EVERY REHABILITATED PROPERTY MET OR EXCEEDED MINIMUM HOUSING STANDARDS, CONTRIBUTING TO THE LONG-TERM SUSTAINABILITY OF OUR NEIGHBORHOODS.
DOWN PAYMENT ASSISTANCE FOR HOME PURCHASE: ACHIEVING THE DREAM OF HOMEOWNERSHIP BECAME A REALITY FOR MANY INDIVIDUALS AND FAMILIES, THANKS TO OUR DOWN PAYMENT ASSISTANCE PROGRAM. WE ASSISTED HOMEBUYERS IN OVERCOMING FINANCIAL BARRIERS TO HOMEOWNERSHIP, PROVIDING CRUCIAL SUPPORT IN THE FORM OF DOWN PAYMENT ASSISTANCE. THIS INITIATIVE NOT ONLY INCREASED HOMEOWNERSHIP RATES WITHIN OUR COMMUNITY BUT ALSO LAID THE FOUNDATION FOR LONG-TERM STABILITY AND PROSPERITY. AS MORE FAMILIES TAKE PRIDE IN HOMEOWNERSHIP, OUR COMMUNITY GROWS STRONGER AND MORE RESILIENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erika Cooks Executive Di | Officer | 40 | $128,348 |
Ahmad R Kareh President | OfficerTrustee | 1 | $0 |
Johnny Streets Director | Trustee | 1 | $0 |
Stacy Williams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $71,117 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $696,519 |
| All other contributions, gifts, grants, and similar amounts not included above | $274,732 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,042,368 |
| Total Program Service Revenue | $67,100 |
| Investment income | $184 |
| 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 | $1,109,652 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $226,102 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,219 |
| Compensation of current officers, directors, key employees. | $11,422 |
| 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 | $1,445 |
| 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 | $212,764 |
| Advertising and promotion | $0 |
| Office expenses | $41,731 |
| Information technology | $12,878 |
| Royalties | $0 |
| Occupancy | $22,140 |
| Travel | $1,510 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,927 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,085 |
| Insurance | $10,684 |
| All other expenses | $803 |
| Total functional expenses | $1,105,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $163,058 |
| Pledges and grants receivable | $154,531 |
| 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 | $23,734 |
| Net Land, buildings, and equipment | $1,175,185 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $81,851 |
| Total assets | $1,598,359 |
| Accounts payable and accrued expenses | $51,017 |
| 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 | $1,025,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,076,017 |
| Net assets without donor restrictions | $522,342 |
| 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 | $1,598,359 |