Alexandria Housing Development Corporation
- Assets
- $129.7m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 12
- Location
- Alexandria, VA
- Founding
- 08/2007
- Data as of
- 12/2021
- EIN
- 84-1650039
Organization Overview
Alexandria Housing Development Corporation is located in Alexandria, VA. The organization was established in 2007. 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 12/2021, Alexandria Housing Development Corporation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alexandria 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 12/2021, Alexandria Housing Development Corporation generated $8.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.2% each year . All expenses for the organization totaled $13.5m during the year ending 12/2021. While expenses have increased by 41.8% per year over the past 7 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
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO DEVELOP AND PRESERVE AFFORDABLE HOUSING IN THE CITY OF ALEXANDRIA, VA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ACQUIRED PARKSTONE ALEXANDRIA APARTMENTS ON JANUARY 28, 2020. THE ORGANIZATION OWNS AND OPERATES THIS 326-UNIT APARTMENT COMPLEX LOCATED IN ALEXANDRIA, VIRGINIA. AHDC IS THE SOLE MEMBER AND DEVELOPER FOR AHDC PC DR, LLC.
THE ORGANIZATION EXISTS TO DEVELOP AND PRESERVE AFFORDABLE HOUSING IN THE CITY OF ALEXANDRIA, VA.
THE ORGANIZATION ACQUIRED ELLSWORTH APARTMENTS ON SEPTEMBER 5, 2019. THE ORGANIZATION OWNS AND OPERATES THIS 20-UNIT APARTMENT COMPLEX LOCATED IN ALEXANDRIA, VIRGINIA. AHDC IS THE SOLE MEMBER AND DEVELOPER FOR AHDC ELLSWORTH, LLC.
THE ORGANIZATION HAS ACQUIRED A RESIDENTIAL UNIT FOR THE PURPOSE OF PROVIDING RENTAL HOUSING, AT NO COST, TO A RETIRED CITY OF ALEXANDRIA POLICE OFFICER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Frederick Executive Director | Officer | 40 | $193,757 |
Aaron Remolona Project Manager | 40 | $129,078 | |
Garth Robinson Vp, Property & Asset Management | 40 | $104,611 | |
Daniel Abramson Chair | OfficerTrustee | 5 | $0 |
John Corrado Secretary | OfficerTrustee | 2 | $0 |
Robert Burns Vice Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davis Carter Scott Ltd Architecture | 12/30/21 | $284,588 |
Advanced Project Management Inc Project Management | 12/30/21 | $213,435 |
City Of Alexandria Pre-development | 12/30/21 | $161,638 |
Holland Knight Llp Legal Services | 12/30/21 | $146,691 |
Clifton Larson Allen Llp Accounting Services | 12/30/21 | $167,929 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $740,253 |
| All other contributions, gifts, grants, and similar amounts not included above | $185,341 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $925,594 |
| Total Program Service Revenue | $7,763,038 |
| Investment income | $969 |
| 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 | $8,689,601 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $530 |
| 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. | $212,912 |
| Compensation of current officers, directors, key employees. | $51,908 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,348,357 |
| Pension plan accruals and contributions | $37,455 |
| Other employee benefits | $113,921 |
| Payroll taxes | $93,867 |
| Fees for services: Management | $291,196 |
| Fees for services: Legal | $13,272 |
| Fees for services: Accounting | $210,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,135 |
| Advertising and promotion | $64,107 |
| Office expenses | $173,182 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,372,098 |
| Travel | $2,366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,332 |
| Interest | $74,960 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,985,917 |
| Insurance | $37,520 |
| All other expenses | $44,027 |
| Total functional expenses | $13,464,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,789,009 |
| Savings and temporary cash investments | $17,748 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $346,119 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,377,626 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $84,722 |
| Net Land, buildings, and equipment | $106,247,942 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,848,476 |
| Total assets | $129,711,642 |
| Accounts payable and accrued expenses | $4,516,054 |
| Grants payable | $0 |
| Deferred revenue | $4,680,556 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $186,574 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $114,538,372 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $569,769 |
| Total liabilities | $124,491,325 |
| Net assets without donor restrictions | $5,220,317 |
| 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 | $129,711,642 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Alexandria Housing Development Corporation has recieved totaling $48.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $48 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Washington Housing Conservancy Inc Washington, DC | $420,260,184 | $21,973,797 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |