Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1994.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
89 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
10 people listed on the 990; $77K paid to officers and key staff.
Michelle Callahan’s $77K as Executive Director is at the 69th percentile of top reported officer pay among 851 $100K–1M 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 · 2 named individuals · Part VII
| Name | FY2024 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|
| Michelle Callahan | $77,409 | — | — | — |
| Michelle Callahan | — | $62,000 | $61,308 | $56,847 |
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 15aNo
Programs and updates
Helps low-to-moderate income families find and keep safe, affordable homes.
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Down Payment Assistance
HDC helps income-qualified first-time homebuyers achieve homeownership by providing down payment and closing cost assistance. This reduces barriers to affordable homeownership and promotes neighborhood stability.
Affordable Housing Development & Management
HDC develops, rehabilitates, owns, and manages affordable rental and lease-to-own housing for households earning below 80% of the area median income. These projects address the critical shorage of affordable housing in the region.
Owner-Occupied Repair
HDC provides financial and technical assistance to low-income homeowners to complete essential health, safety, and accessibility repairs. These improvements help preserve existing housing stock and allow residents to remain safely in their homes.
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By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $972K | $1.1M |
| Land, buildings, equipmentLn 10c | $589K | $524K |
| Total assetsLn 16 | $5.4M | $5.5M |
| LiabilitiesLn 26 | $469K | $407K |
| Net assetsLn 32 | $4.9M | $5.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $117K | $105K | $12K | |
| Management feesLn 11a | $64K | $58K | $6K | |
| Legal feesLn 11b | $2K | $2K | ||
| Accounting feesLn 11c | $28K | $28K | ||
| Other fees for servicesLn 11g | $487 | $487 | ||
| Advertising and promotionLn 12 | $11K | $11K | ||
| Office expensesLn 13 | $14K | $14K | ||
| TravelLn 17 | $2K | $2K | ||
| InterestLn 20 | $12K | $12K | ||
| Depreciation, depletion and amortizationLn 22 | $47K | $47K | ||
| InsuranceLn 23 | $67K | $67K | ||
| Other expenses (24a–d)Ln 24 | $286K | $286K | ||
| All other expensesLn 24e | −$607 | −$2K | $1K | |
| Total functional expensesLn 25 | $650K | $577K | $73K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $797K | $650K | $147K | $5.1M | 990 PDF |
| FY2023 | $288K | $662K | −$374K | $4.9M | 990 PDF |
| FY2022 | $516K | $415K | $101K | $5.6M | 990 PDF |
| FY2021 | $307K | $360K | −$53K | $5.5M | 990 PDF |
| FY2020 | $340K | $398K | −$58K | $5.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $797,356 across 7 lines filed
Part IX · Statement of functional expenses $650,151 across 13 lines filed
Part X · Balance sheet $5,475,344 assets, 12 lines filed
Part XI · Reconciliation of net assets $5,068,569 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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