Overview
What is Homestead Affordable Development Corporation?
Homestead Affordable Development Corporation, based in Chicago, Illinois, is a nonprofit organization with a mission to provide affordable housing for moderate and low-income families and seniors in the Midwest region of the United States. They are currently partnering with Chicago House to develop a multi-use facility in Chicago, which will include office space and affordable housing units. The organization recognizes the pressing issue of housing affordability, particularly as the U.S. economy improves and creates a wider gap between rental prices and the "Housing Wage."
Official website here: www.homesteaddev.org/
Is Homestead Affordable Development Corporation legitimate?
Homestead Affordable Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homestead Affordable 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: $38,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.homesteaddev.org/
What is the mission statement of Homestead Affordable Development Corporation?
The Homestead Affordable Development Corporation is committed to addressing the pressing issue of providing affordable housing for moderate and low-income families and seniors in the Midwest region of the United States. As the economy improves, there has been an increasing divide in rental prices and the "Housing Wage," making adequate, safe, and clean housing a challenge for many low-income families and senior citizens. In response, Homestead Affordable Development Corporation aims to bridge this gap by providing affordable housing solutions. The organization strives to contribute to a more equitable living situation for these families and seniors, ensuring they have access to decent and secure housing.
Official website here: www.homesteaddev.org/
What is the revenue of Homestead Affordable Development Corporation?
Homestead Affordable Development Corporation's revenue in 2020 was $241,500.
Official website here: www.homesteaddev.org/
Who are the executives of Homestead Affordable Development Corporation and what are their salaries?
There 3 volunteers at Homestead Affordable Development Corporation.
Here are 4 key members and their salaries:
- Compensation: $38,400
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.homesteaddev.org/
Where can I find the form 990 for Homestead Affordable Development Corporation?
Homestead Affordable Development Corporation's most recent form 990 was submitted in 2020 and can be accessed here.
Official website here: www.homesteaddev.org/
Learn more at the official website: www.homesteaddev.org/
Mission Statement of Homestead Affordable Development Corporation
Homestead Affordable Development Corporation, abbreviated as HADC, is committed to addressing a significant challenge in the Midwest and the United States as a whole: the provision of affordable housing for moderate and low-income families and senior citizens. This pressing issue has been exacerbated by the improving U.S. economy, which has resulted in a widening gap between rental prices and the "Housing Wage." Recognizing this disparity, HADC's mission is to bridge this gap by offering affordable housing solutions to families and senior citizens in need. By doing so, the organization aims to contribute to a more equitable housing landscape in the Midwest region.
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Impact
October, 2024
Homestead Affordable Development Corporation significantly addresses the pressing need for affordable housing for low and moderate-income families and seniors in the Midwest. By focusing on the development of safe and clean living environments, it effectively counters the growing disparity in rental prices exacerbated by economic trends.
One notable impact of HADC's efforts is exemplified through the Chicago House Project, which aims to transform a vacant property on N. Clark St. into a multi-use facility. This development not only creates affordable housing units for those in need but also incorporates office space for Chicago House, fostering a supportive community environment. The project’s integration of a grocery store within the facility ensures convenient access to essential services for residents, further enhancing their quality of life.
Through these initiatives, HADC plays a crucial role in revitalizing neighborhoods, ensuring that vulnerable populations have access to the housing they require, and bridging the gap created by increasing housing prices. The corporation's commitment to affordable housing is essential in creating sustainable, inclusive communities in the region.
This information is meant to be a general summary of Homestead Affordable 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 2020.
- Investment Income: $241,500
- Gross Receipts: $1,864,326
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2014
Principal Officer
Howard Conant
Website
www.homesteaddev.org/NTEE Category
Code: L20 - Housing
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