Crossroads Housing Development Corporation
- Assets
- $1.4m
- Revenue
- $20.3m
- Investments
- $0.0
- Employees
- 5
- Location
- Big Spring, TX
- Founding
- 02/2000
- Data as of
- 12/2022
- EIN
- 75-2839932
Organization Overview
Crossroads Housing Development Corporation is located in Big Spring, TX. The organization was established in 2000. 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. As of 12/2022, Crossroads Housing Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crossroads 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, Crossroads Housing Development Corporation generated $20.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $20.3m during the year ending 12/2022. While expenses have increased by 4.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSISTS IN CREATING, MANAGING, DEVELOPING AFFORDABLE HOUSING FOR CITIZENS OF HOWARD COUNTY AND ITS CONTIGUOUS COUNTIES AND ALL AREAS WEST OF US HWY 59 IN TX AND REGIONS 4,5,6, AND 11 AS REFLECTED IN THE TDHCA MAP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BIG SPRING WORKS PROGRAM THE INTENT OF THE PROGRAM IS TO BUY RUNDOWN OR ABANDONED HOUSES WITHIN HOWARD COUNTY, RENOVATE THEM SO THAT THE FUTURE HOMEOWNER HAS NO MAJOR RENOVATION EXPENSES FOR THE FIRST FIVE YEARS OF OWNERSHIP, AND SELL THEM TO LOW-INCOME FAMILIES OR INDIVIDUALS THAT INTEND TO LIVE IN THE HOUSES.
LOW INCOME HOUSING TAX CREDIT PROGRAM - GENERAL CONTRACTOR AND MANAGEMENT OF LOW INCOME HOUSING PROJECTS UNDER IRC SECTION 42 THROUGHOUT TEXAS.
DEPOSIT ASSISTANCE MANAGEMENT PROGRAM. THE INTENT OF THIS PROGRAM IS TO ASSIST BIG SPRING HOUSING AUTHORITY RENTAL ASSISTANCE VOUCHER CLIENTS MOVING INTO A NEW RESIDENCE BY PROVIDING ELIGIBLE APPLICANTS ASSISTANCE PARTIAL OR COMPLETE WITH LEASE OR UTILITY DEPOSITS. SPECIFIC GUIDELINES REGARDING ELIGIBILITY AND INCOME VERIFICATION ARE SET FORTH WITHIN THE MANAGEMENT PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Swisher Executive Director Board Secretary | OfficerTrustee | 40 | $180,000 |
Linda Pryor Deputy Director Starting May 2022 | Officer | 20 | $16,538 |
Paul Pryor Deputy Director Until May 2022 | Officer | 20 | $10,947 |
Clifton Talbot Chairman | OfficerTrustee | 1 | $0 |
Raul J Marquez Treasurer | OfficerTrustee | 1 | $0 |
John Scott Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brownstone Architects & Planners Inc Construction-lihtc Projects | 12/30/22 | $15,881,272 |
Nations Construction Llc Construction Lihtc Projects | 12/30/22 | $3,165,463 |
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 | $20,289,919 |
| Investment income | $4,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,390 |
| 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 | $20,296,232 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $70,000 |
| Grants and other assistance to domestic individuals. | $14,092 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $207,852 |
| Compensation of current officers, directors, key employees. | $20,786 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,450 |
| Pension plan accruals and contributions | $62,160 |
| Other employee benefits | $34,223 |
| Payroll taxes | $19,621 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,343 |
| Fees for services: Accounting | $12,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,465 |
| Advertising and promotion | $3,514 |
| Office expenses | $17,602 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,725 |
| Travel | $48,079 |
| 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 | $7,258 |
| Insurance | $16,268 |
| All other expenses | $0 |
| Total functional expenses | $20,305,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $938,689 |
| 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 | $5,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $414,223 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$11,333 |
| Intangible assets | $0 |
| Other assets | $43,238 |
| Total assets | $1,389,817 |
| Accounts payable and accrued expenses | $49,769 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,769 |
| Net assets without donor restrictions | $1,340,048 |
| 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 | $1,389,817 |
Grants Awarded
Over the last fiscal year, Crossroads Housing Development Corporation has awarded $70,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BIG SPRING HOUSING AUTHORITY PURPOSE: Deposit Assistance Management Program | $30,000 |
BIG SPRING HOUSING AUTHORITY PURPOSE: Operations | $40,000 |