Overview
What is Housing Opportunity Development Corp?
Housing Opportunity Development Corp is a nonprofit organization situated in Skokie, Illinois, specifically at 5340 Lincoln Avenue. Their primary mission is to offer affordable or subsidized housing solutions to residents with low to moderate incomes, serving communities within the northern suburbs of metropolitan Chicago, spanning across Cook and Lake Counties in Illinois. With a dedicated workforce of 29 individuals, the organization is committed to making housing more accessible and affordable for those in need, contributing to a more inclusive and equitable community.
Official website here: www.hodc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 98% - Four-Star out of Four Star rating
Housing Opportunity Development Corp has received an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. With a perfect score of 100 in Accountability & Finance, the organization demonstrates strong fiscal management and transparency, ensuring that donor funds are utilized effectively.
In addition to its financial strengths, the charity shows a robust commitment to feedback from constituents, achieving perfect scores in both Feedback Collection and Usage. This reflects the organization’s dedication to engaging with the community it serves and adapting its programs based on their needs. Furthermore, all board members are independent, which enhances governance and reduces potential conflicts of interest.
While the organization excels in many areas, its Equity Strategies score of 77 suggests room for improvement in promoting inclusiveness and equity within its programs. Overall, Housing Opportunity Development Corp stands out as a well-managed nonprofit that prioritizes accountability and community engagement, while also recognizing the need for growth in equity initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Opportunity Development Corp legitimate?
Housing Opportunity Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Opportunity Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $1,255,279
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Official website here: www.hodc.org
What is the mission statement of Housing Opportunity Development Corp?
The Housing Opportunity Development Corp's mission is centered around providing affordable and subsidized housing options for low- to moderate-income citizens. This organization operates primarily in the north suburban communities of Chicago, spanning across Cook and Lake Counties, Illinois. Their primary goal is to ensure that everyone, regardless of their income level, has access to decent living spaces. They achieve this by offering both low-cost housing and rental subsidies, thereby contributing to a more inclusive and equitable housing market.
Official website here: www.hodc.org
Who is the CEO of Housing Opportunity Development Corp?
William Sholten is the Director of Housing Opportunity Development Corp.
Official website here: www.hodc.org
What is the revenue of Housing Opportunity Development Corp?
Housing Opportunity Development Corp's revenue in 2022 was $2,194,923.
Official website here: www.hodc.org
Who are the executives of Housing Opportunity Development Corp and what are their salaries?
The average compensation at Housing Opportunity Development Corp during 2022 was $43,285. There are 29 employees and 8 volunteers at Housing Opportunity Development Corp.
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- Compensation: $189,000
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Official website here: www.hodc.org
Where can I find the form 990 for Housing Opportunity Development Corp?
Housing Opportunity Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hodc.org
Learn more at the official website: www.hodc.org
Mission Statement of Housing Opportunity Development Corp
Housing Opportunity Development Corp, as a nonprofit organization, is committed to providing affordable and subsidized housing solutions for low- and moderate-income citizens residing in the northern suburban communities of Chicago, spanning across Cook and Lake Counties, Illinois. The corporation's mission is centered around making housing more accessible for individuals who may face financial constraints, thereby contributing to a more equitable living environment. By offering subsidized rent and low-cost housing options, Housing Opportunity Development Corp aims to help individuals and families in need secure a stable living situation, ultimately improving their overall quality of life.
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Impact
October, 2024
Housing Opportunity Development Corp significantly impacts low and moderate-income citizens in the north suburban communities of Chicago, specifically within Cook and Lake Counties, Illinois. By providing low-cost and rent-subsidized housing, it addresses the critical need for affordable living options in these areas. This initiative helps to stabilize communities, allowing residents to secure safe and decent housing without being burdened by overwhelming costs. As a result, families can focus on improving their quality of life, accessing better educational and employment opportunities, and fostering a sense of community, ultimately contributing to the economic and social well-being of the region.
This information is meant to be a general summary of Housing Opportunity Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $164,281
- Program Service Revenue: $1,424,332
- Gross Receipts: $2,599,017
Assets and Liabilities:
- Total Assets: $15,916,660
- Total Liabilities: $4,818,458
- Net Assets: $11,098,202
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALARY REIMBURSEMENT
Revenue
$607,697
MISCELLANEOUS INCOME
Revenue
$282,306
DEVELOPMENT FEE
Revenue
$262,706
MANAGEMENT FEES
Revenue
$257,781
PARTNERSHIP MGMT FEE
Revenue
$13,842
Organization Details
Founding Year
1983
Phone
(847) 564-2900Principal Officer
William Sholten
Main Address
5340 LINCOLN AVENUE, SKOKIE, IL, 60077
Website
www.hodc.orgNTEE Category
Code: L20Z - Housing
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