Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1968.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
60 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
14 people listed on the 990; $594K paid to officers and key staff.
Thomas Kegelman’s $164K as Executive Director/ Clerk is at the 76th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 5 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Thomas Kegelman | $163,945 | $164,777 | $142,120 | $172,134 | $162,458 |
| Joesiah Gonzalez | $157,500 | — | — | — | — |
| Richard Kingston | — | $154,258 | — | — | — |
| Peter Seafino | $131,633 | $140,851 | $129,572 | $124,746 | $116,490 |
| Jennica Huff | $140,537 | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Builds and manages affordable housing, fostering neighborhood growth and resident stability.
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Know this organization? Claim it to add your story
Home city development, inc. And its subsidiaries were formed to provide and maintain housing for use by families and persons of lower income in western massachusetts. Rental development & management of low income housing in springfield, ma area.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.2M | $2.4M |
| InvestmentsLn 11–13 | $6.9M | $9.3M |
| Land, buildings, equipmentLn 10c | $5.2M | $5.3M |
| Total assetsLn 16 | $23.9M | $54.2M |
| LiabilitiesLn 26 | $11.4M | $42.1M |
| Net assetsLn 32 | $12.5M | $12.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $170K | $170K | ||
| Other salaries and wagesLn 7 | $590K | $385K | $205K | |
| Pension plan contributionsLn 8 | $21K | $15K | $6K | |
| Other employee benefitsLn 9 | $92K | $79K | $14K | |
| Payroll taxesLn 10 | $65K | $47K | $18K | |
| Management feesLn 11a | $11K | $11K | ||
| Legal feesLn 11b | $32K | $32K | ||
| Accounting feesLn 11c | $90K | $90K | ||
| Investment management feesLn 11f | $26K | $26K | ||
| Advertising and promotionLn 12 | $50K | $50K | ||
| Office expensesLn 13 | $223K | $223K | ||
| OccupancyLn 16 | $37K | $37K | $287 | |
| TravelLn 17 | $3K | $3K | ||
| Conferences, conventions and meetingsLn 19 | $11K | $11K | ||
| InterestLn 20 | $12K | $2K | $10K | |
| Depreciation, depletion and amortizationLn 22 | $131K | $94K | $37K | |
| InsuranceLn 23 | $56K | $37K | $19K | |
| Other expenses (24a–d)Ln 24 | $301K | $296K | $5K | |
| All other expensesLn 24e | $51K | $30K | $21K | |
| Total functional expensesLn 25 | $2.0M | $1.2M | $779K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $1.4M | $2.0M | −$533K | $12.1M | 990 PDF |
| FY2023 | $1.1M | $1.7M | −$602K | $12.5M | 990 PDF |
| FY2022 | $3.0M | $1.6M | $1.4M | $12.9M | 990 PDF |
| FY2021 | $1.7M | $1.4M | $303K | $12.0M | 990 PDF |
| FY2020 | $1.2M | $1.3M | −$163K | $11.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,437,102 across 7 lines filed
Part IX · Statement of functional expenses $1,970,169 across 19 lines filed
Part X · Balance sheet $54,239,900 assets, 17 lines filed
Part XI · Reconciliation of net assets $12,122,190 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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