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Concord Housing Development Corp FY2023 filing

Tax-deductible

Acton, MA501(c)(3)HousingEIN 61-1573215Revenue $427K in FY2023

On file with the IRS37 Knox Trl, 01720-5935 · Acton, MATax-exempt since Nov 2008Publicly supported charity — 170(b)(1)(A)(vi)

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The chdc is a non-profit organization for the provision of affordable Housing for persons of low, moderate, and middle income and others whose needs may be identified from time to time in the town.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $184K a year · 58% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
26 mo
of spending, in cash
Looks good: 25.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$605K
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$427K
×12 vs prior year
Spent
$36K
To programs
76%
Net assets
$748K
By yearFY2021–FY2025
Revenue
$427K
FY2023▲ ×12
Tap a bar for its year
Revenue by fiscal year
FY2021$35K
FY2023$427K
FY2024$408K
FY2025$399K
Expenses
$36K
FY2023▼ -55%
Tap a bar for its year
Expenses by fiscal year
FY2021$80K
FY2023$36K
FY2024$40K
FY2025$378K
Net assets
$748K
FY2023▲ +128%
Tap a bar for its year
Net assets by fiscal year
FY2021$329K
FY2023$748K
FY2024$1.1M
FY2025$1.1M

From the FY2023 Form 990 (year ending June 2023) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $27K Management & general 24% · $9K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Dan Drazen
Director
$0Pt VII · Sec A
Peter Lowitt
Treasurer
$0Pt VII · Sec A
Julie McClure
Vice Preside
$0Pt VII · Sec A
Lee Smith
President
$0Pt VII · Sec A
See Concord Housing Development Corp executive salaries →

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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

Provides affordable housing for low, moderate, and middle-income residents.

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Provided by the organization

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3 programs · $25K · in their own filed words · FY2022
01

The CHDC has a program that provides qualifying individuals with small grants for health and safety purposes.

$25Kprogram expense
02

The CHDC is pursuing the development of affordable housing in west concord on property donated to the CHDC in 2013 by the state. The land is restricted to affordable housing and open space purposes.

Pt IX · col B
03

The CHDC purchased property at assabet river bluff with the town of concord for the development of affordable housing.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 15 grants · $75K · 2020–2024
Unitemized GrantFY2024$4,000
Unitemized GrantFY2024$4,000
Unitemized GrantFY2024$4,000
Unitemized GrantFY2024$4,000
Unitemized GrantFY2024$3,107
Unitemized GrantFY2024$2,250
Unitemized GrantFY2023$4,000
Unitemized GrantFY2023$4,000
Unitemized GrantFY2023$4,000
Unitemized GrantFY2023$2,705
Unitemized GrantFY2022$12,000
Unitemized GrantFY2022$8,000
Unitemized GrantFY2022$4,000
Unitemized GrantFY2022$560
Unitemized GrantFY2020$14,122

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$427K
Ln 12
Gifts and grantsLn 1h$427K
Other incomeLn 4–11$251
Money outPt IX
$36K
Ln 25
Programscol B$27K
Managementcol C$9K
Owns and owesPt X
$748K
net assets · Ln 32
Cash and savingsLn 1–2$77K
Total assetsLn 16$1.4M
LiabilitiesLn 26$605K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$427K
Other incomeLn 4–11$251
Total revenueLn 12$427K
Assets in detailPt X, end of year
CashLn 1$77K
Cash and savings togetherLn 1–2$77K
Land, buildings, equipmentLn 10c$1.3M
Total assetsLn 16$1.4M
LiabilitiesLn 26$605K
Net assetsLn 32$748K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$35K$77K
Land, buildings, equipmentLn 10c$137K$1.3M
Total assetsLn 16$400K$1.4M
LiabilitiesLn 26$400$605K
Net assetsLn 32$399K$748K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$25K$25K
Accounting feesLn 11c$7K$7K
Office expensesLn 13$189$189
InsuranceLn 23$2K$1K$1K
Other expenses (24a–d)Ln 24$2K$2K$644
Total functional expensesLn 25$36K$27K$9K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $399K$378K$22K$1.1M 990 PDF
FY2024 $408K$40K$368K$1.1M 990 PDF
FY2023 Viewing $427K$36K$391K$748K 990 PDF
FY2022 Not on file
FY2021 $35K$80K−$45K$329K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $427,062 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $87,416$426,811
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$251
I-12 Total revenuePrior year $87,416$427,062
I-13 Grants and similar amounts paidPrior year $3,205$24,560
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $13,797$11,398
I-18 Total expensesPrior year $17,002$35,958
I-19 Revenue less expensesPrior year $70,414$391,104
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $427,062 across 4 lines filed
VIII-1f All other contributions, gifts and grants$426,811
VIII-1h Total contributions, gifts and grants$426,811
VIII-6 Net rental income or lossRelated to mission $251$251
VIII-12 Total revenueRelated to mission $251$427,062
Part IX · Statement of functional expenses $35,958 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $24,560$24,560
IX-11c Accounting feesManagement $6,810$6,810
IX-13 Office expensesManagement $189$189
IX-23 InsurancePrograms $1,008 · Management $1,009$2,017
IX-24 Other expenses (24a–d)Programs $1,738 · Management $644$2,382
IX-25 Total functional expensesPrograms $27,306 · Management $8,652 · Fundraising $0$35,958
Part X · Balance sheet $1,353,147 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $35,220$76,777
X-10c Land, buildings and equipment, netStart of year $136,712$1,276,370
X-16 Total assetsStart of year $399,581$1,353,147
X-17 Accounts payable and accrued expensesStart of year $400$3,662
X-19 Deferred revenue$1,500
X-25 Other liabilities$600,000
X-26 Total liabilitiesStart of year $400$605,162
X-27 Net assets without donor restrictionsStart of year $59,679$747,985
X-32 Total net assets or fund balancesStart of year $399,181$747,985
X-33 Total liabilities and net assetsStart of year $399,581$1,353,147
Part XI · Reconciliation of net assets $747,985 net assets at year end
XI-1 Total revenue$427,062
XI-2 Total expenses$35,958
XI-3 Revenue less expenses$391,104
XI-4 Net assets at start of year$399,181
XI-9 Other changes in net assets−$42,300
XI-10 Net assets at end of year$747,985

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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