Northeast Denver Housing Center Inc
- Assets
- $71.3m
- Revenue
- $23.4m
- Investments
- $0.0
- Employees
- 18
- Location
- Denver, CO
- Founding
- 08/1983
- Data as of
- 12/2023
- EIN
- 84-0909291
Organization Overview
Northeast Denver Housing Center Inc is located in Denver, CO. The organization was established in 1983. 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 12/2023, Northeast Denver Housing Center Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Denver Housing Center Inc 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 12/2023, Northeast Denver Housing Center Inc generated $23.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $12.1m during the year ending 12/2023. While expenses have increased by 15.1% per year over the past 9 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
NORTHEAST DENVER HOUSING CENTER, INC.'S PURPOSE IS TO PROMOTE AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENTAL PROJECTS/PROGRAMS AS WELL AS COMPREHENSIVE COUNSELING AND HOME OWNERSHIP INCUBATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS ESTABLISHED AN INNOVATIVE PROGRAM THAT USES HOUSING ASA PLATFORM FOR SERVING THE NEEDS OF LOW TO MODERATE INCOME HOUSEHOLDSTHROUGH THE DESIGN/DEVELOPMENT OF AFFORDABLE RENTAL/OWNERSHIP UNITS AND THEPROVISION OF SUPPORTIVE SERVICES AIMED AT IMPROVING THE LIFE SKILLS ANDECONOMIC OPPORTUNITIES OF ITS CLIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dominique Acevedo Executive Director | 40 | $141,212 | |
Georgina Olakanye Secretary/treas | Trustee | 4 | $0 |
Roy Alexander Chairperson | Trustee | 4 | $0 |
Ryan Sahd Vice-Chairperso | Trustee | 4 | $0 |
Kristopher Colley Director | Trustee | 4 | $0 |
Sally Edwards Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,193,615 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,672,571 |
| Noncash contributions included in lines 1a–1f | $3,980,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,866,186 |
| Total Program Service Revenue | $9,125,485 |
| Investment income | $943,576 |
| 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 | $23,400,819 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $141,212 |
| Compensation of current officers, directors, key employees. | $14,121 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $777,769 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $405,792 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $69,390 |
| Advertising and promotion | $0 |
| Office expenses | $30,910 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,877 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $866,541 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,257,255 |
| Insurance | $0 |
| All other expenses | $165,189 |
| Total functional expenses | $12,113,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,217,865 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $507,177 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,723,745 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $136,591 |
| Net Land, buildings, and equipment | $27,853,920 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,815,377 |
| Total assets | $71,254,675 |
| Accounts payable and accrued expenses | $363,707 |
| 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 | $32,033,975 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,757,897 |
| Total liabilities | $34,155,579 |
| Net assets without donor restrictions | $35,004,754 |
| Net assets with donor restrictions | $2,094,342 |
| 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 | $71,254,675 |