Overview
What is Housing Development Corporation?
Housing Development Corporation, located in Hastings, Nebraska, serves as a Community Housing Development Organization (CHDO). Their primary mission is to aid low to moderate-income households in securing and maintaining safe and affordable housing within the counties of Adams, Clay, Hall, Nuckolls, and Webster. They achieve this by providing down payment assistance and owner-occupied rehabilitation with lien forgiveness, which is gradually forgiven over a period of 10 years or more. If the property is sold before the forgiveness period, the recaptured funds are considered program income. With a team of five dedicated individuals, Housing Development Corporation plays a significant role in promoting affordable housing opportunities for their community.
Official website here: www.housingdevcorp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating. This score indicates a solid performance in the nonprofit sector, showcasing the Housing Development Corporation’s commitment to accountability and finance with a notable score of 83%. The organization has demonstrated a strong governance structure, highlighted by having 100% independent board members and a sound conflict of interest policy.
The charity excels in financial management, with an impressive program expense ratio of over 95%, ensuring that the majority of funds are directed towards their mission-related activities. Additionally, the organization scores exceptionally well in culture and community engagement, achieving a perfect score of 100%. They actively seek feedback and incorporate it into their practices, reflecting a responsive and participatory approach.
However, while the organization performs well overall, there is a relatively lower score in leadership and adaptability at 10%. This suggests potential areas for improvement in developing leadership capacity and responding flexibly to changing circumstances. Nonetheless, the existing strengths in governance and financial transparency position the Housing Development Corporation as a reputable entity in its field.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Development Corporation legitimate?
Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Development Corporation 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:
Executive Compensation: $62,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $66,135
For more financial information, click here
Official website here: www.housingdevcorp.org
What is the mission statement of Housing Development Corporation?
The Housing Development Corporation serves as a Community Housing Development Organization (CHDO) with a mission to assist low to moderate-income households in obtaining and maintaining safe and affordable housing. This organization operates within the counties of Adams, Clay, Hall, Nuckolls, and Webster. The corporation offers programs that include the forgiveness of liens placed on homes for down payment assistance and owner-occupied rehab. These liens are forgiven incrementally over a period of 10 or more years. If a house is sold before the forgiveness period, the recaptured funds are considered program income for the corporation.
Official website here: www.housingdevcorp.org
Who is the CEO of Housing Development Corporation?
Michelle Callahan is the Executive Di of Housing Development Corporation.
Official website here: www.housingdevcorp.org
What is the revenue of Housing Development Corporation?
Housing Development Corporation's revenue in 2022 was $516,470.
Official website here: www.housingdevcorp.org
Who are the executives of Housing Development Corporation and what are their salaries?
The average compensation at Housing Development Corporation during 2022 was $25,627. There are 5 employees and 8 volunteers at Housing Development Corporation.
Here are 9 key members and their salaries:
- Compensation: $62,000
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- Other: $0
Official website here: www.housingdevcorp.org
Where can I find the form 990 for Housing Development Corporation?
Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.housingdevcorp.org
Learn more at the official website: www.housingdevcorp.org
Mission Statement of Housing Development Corporation
The Housing Development Corporation, serving as a Community Housing Development Organization ('CHDO'), is dedicated to assisting low to moderate income households in obtaining and maintaining safe and affordable housing. The organization's mission is to support these families within the counties of Adams, Clay, Hall, Nuckolls, and Webster. To achieve this goal, Housing Development Corporation provides down payment assistance and owner-occupied rehab programs. These initiatives come with a forgiveness period of 10 or more years, where liens on homes are gradually forgiven. If the property is sold before the forgiveness period, the recaptured funds are utilized as program income. This way, Housing Development Corporation plays a pivotal role in making housing more accessible for those in need.
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Impact
July, 2024
Housing Development Corporation's impact is significant as it plays a key role in assisting low to moderate income households in obtaining and maintaining safe and affordable housing in Adams, Clay, Hall, Nuckolls, and Webster counties. By forgiving liens on homes for down payment assistance and owner-occupied rehab, HDC helps individuals achieve homeownership and stability. This contributes to the overall well-being of the community by increasing access to affordable housing options and promoting economic stability for residents in need.
This information is meant to be a general summary of Housing Development Corporation. 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: $3,609
- Program Service Revenue: $549,191
- Gross Receipts: $846,695
Assets and Liabilities:
- Total Assets: $5,931,043
- Total Liabilities: $347,759
- Net Assets: $5,583,284
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INSURANCE PROCEEDS
Revenue
$425,028
MLC MGMT FEES
Revenue
$59,311
RECAPTURE DPA & OOR
Revenue
$28,929
HO LOAN REPAYMENT
Revenue
$14,467
PROGRAM INCOME RENTAL PROJECT
Revenue
$13,824
Organization Details
Founding Year
1993
Phone
(402) 461-8704Principal Officer
Michelle Callahan
Main Address
301 S BURLINGTON AVE, HASTINGS, NE, 68901
Website
www.housingdevcorp.orgNTEE Category
Code: L210 - Housing
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