Montebello Housing Development Corporation
- Assets
- $8.3m
- Revenue
- $469.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Montebello, CA
- Founding
- 11/1992
- Data as of
- 06/2021
- EIN
- 95-4413788
Organization Overview
Montebello Housing Development Corporation is located in Montebello, CA. The organization was established in 1992. 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. As of 06/2021, Montebello Housing Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montebello 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 06/2021, Montebello Housing Development Corporation generated $469.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $388.0k during the year ending 06/2021. While expenses have increased by 3.6% per year over the past 6 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
EMPOWERING FAMILIES THROUGHOUT LOS ANGELES COUNTY TO REALIZE THE AMERICAN DREAM. MHDC HELPS INFORM, EDUCATE AND FACILITATE HOME OWNERSHIP FOR FIRST TIME HOMEBUYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE CORPORATION IS TO ASSIST LOW AND MODERATE-INCOME INDIVIDUALS AND FAMILIES TO ACQUIRE HOMEOWNERSHIP THROUGH THE OFFERING OF FINANCING, EDUCATION PROGRAMS AND COUNSELING AND OTHER OPPORTUNITIES. THE CORPORATION ALSO ASSISTS INDIVIDUALS AND FAMILIES THAT HAVE LOAN DEFAULTS AND/OR ARE FACING FORECLOSURE. IN ADDITION TO THESE ACTIVITIES, MHDC INVESTS AND DEVELOPS REAL ESTATE PROPERTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alejandra Gutierrez Board Member | Trustee | 5 | $3,283 |
Robert Monzon President | OfficerTrustee | 20 | $788 |
Joseph Sandoval Secretary | OfficerTrustee | 5 | $0 |
Jaime Legaspi Vice President | OfficerTrustee | 5 | $0 |
Patricia Renteria Treasurer | OfficerTrustee | 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 | $158,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,500 |
| Total Program Service Revenue | $261,737 |
| Investment income | $44,496 |
| 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 | $469,941 |
| 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. | $4,071 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,729 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,590 |
| Payroll taxes | $19,145 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,156 |
| Fees for services: Accounting | $42,238 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,021 |
| Advertising and promotion | $4,300 |
| Office expenses | $17,621 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $149,382 |
| Travel | $426 |
| 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 | $8,896 |
| All other expenses | $1,865 |
| Total functional expenses | $387,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,264,596 |
| Savings and temporary cash investments | $809,573 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,239 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,176,883 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $645,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $317,811 |
| Total assets | $8,284,102 |
| Accounts payable and accrued expenses | $36,239 |
| Grants payable | $0 |
| Deferred revenue | $1,572,366 |
| 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 | $688,426 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,096 |
| Total liabilities | $2,307,127 |
| Net assets without donor restrictions | $1,530,393 |
| Net assets with donor restrictions | $4,446,582 |
| 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 | $8,284,102 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montebello Housing Development Corporation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Housing and Transportation | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Episcopal Communities & Services For Seniors Monrovia, CA | $210,406,101 | $54,393,007 |
Area Housing Authority Of County Of Ventura Newbury Park, CA | $51,199,286 | $45,374,355 |
Eah Inc San Rafael, CA | $269,353,281 | $53,747,905 |
Tenderloin Neighborhood Development Corporation San Francisco, CA | $105,200,928 | $42,280,090 |
Eden Housing Inc Hayward, CA | $420,059,670 | $90,990,309 |
Midpen Housing Corporation Foster City, CA | $279,122,902 | $50,937,724 |
Cesar Chavez Foundation Keene, CA | $206,528,631 | $52,041,546 |
Pico-Union Housing Corporation Los Angeles, CA | $136,637,775 | $17,120,613 |
Northwest Housing Alternatives Inc Milwaukie, OR | $66,415,282 | $18,428,543 |
Burbank Housing Development Corporation Santa Rosa, CA | $103,460,619 | $16,261,747 |
Coachella Valley Housing Coalition Indio, CA | $146,778,624 | $17,127,596 |
Community Corporation Of Santa Monica Santa Monica, CA | $197,338,615 | $17,598,823 |