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Concord Housing Development Corp FY2024 filing

Tax-deductible

Acton, MA501(c)(3)HousingEIN 61-1573215Revenue $408K in FY2024

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.
40¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
40%
of spending
Concern: 40% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 18.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$602K
35% of total assets
Looks good: liabilities are 35% 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
$408K
-4% vs prior year
Spent
$40K
To programs
40%
Net assets
$1.1M
By yearFY2021–FY2025
Revenue
$408K
FY2024▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2021$35K
FY2023$427K
FY2024$408K
FY2025$399K
Expenses
$40K
FY2024▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2021$80K
FY2023$36K
FY2024$40K
FY2025$378K
Net assets
$1.1M
FY2024▲ +49%
Tap a bar for its year
Net assets by fiscal year
FY2021$329K
FY2023$748K
FY2024$1.1M
FY2025$1.1M

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 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

40 cents of each dollar spent went to programs.

Program services 40% · $16K Management & general 60% · $24K

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 (FY2023); the FY2024 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 · $15K · in their own filed words · FY2023
01

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

$15Kprogram 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 is pursuing the development of affordable housing at assabet river bluff with cmaht and the town of concord.

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 FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$408K
Ln 12
Gifts and grantsLn 1h$394K
Other incomeLn 4–11$14K
Money outPt IX
$40K
Ln 25
Programscol B$16K
Managementcol C$24K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$62K
Total assetsLn 16$1.7M
LiabilitiesLn 26$602K
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$394K
Other incomeLn 4–11$14K
Total revenueLn 12$408K
Assets in detailPt X, end of year
CashLn 1$62K
Cash and savings togetherLn 1–2$62K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$299K
Total assetsLn 16$1.7M
LiabilitiesLn 26$602K
Net assetsLn 32$1.1M
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 FY24End FY24
Cash and savingsLn 1–2$77K$62K
Land, buildings, equipmentLn 10c$1.3M$1.4M
Total assetsLn 16$1.4M$1.7M
LiabilitiesLn 26$605K$602K
Net assetsLn 32$748K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$15K$15K
Accounting feesLn 11c$18K$18K
Office expensesLn 13$212$212
InsuranceLn 23$2K$1K$1K
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$40K$16K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $399K$378K$22K$1.1M 990 PDF
FY2024 Viewing $408K$40K$368K$1.1M 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $408,238 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $426,811$394,306
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $251$13,932
I-12 Total revenuePrior year $427,062$408,238
I-13 Grants and similar amounts paidPrior year $24,560$14,705
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $11,398$25,252
I-18 Total expensesPrior year $35,958$39,957
I-19 Revenue less expensesPrior year $391,104$368,281
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 $408,238 across 4 lines filed
VIII-1f All other contributions, gifts and grants$394,306
VIII-1h Total contributions, gifts and grants$394,306
VIII-6 Net rental income or lossRelated to mission $13,932$13,932
VIII-12 Total revenueRelated to mission $13,932$408,238
Part IX · Statement of functional expenses $39,957 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $14,705$14,705
IX-11c Accounting feesManagement $18,150$18,150
IX-13 Office expensesManagement $212$212
IX-23 InsurancePrograms $1,291 · Management $1,009$2,300
IX-24 Other expenses (24a–d)Management $4,590$4,590
IX-25 Total functional expensesPrograms $15,996 · Management $23,961 · Fundraising $0$39,957
Part X · Balance sheet $1,717,891 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $76,777$61,572
X-10c Land, buildings and equipment, netStart of year $1,276,370$1,356,909
X-15 Other assets$299,410
X-16 Total assetsStart of year $1,353,147$1,717,891
X-17 Accounts payable and accrued expensesStart of year $3,662$125
X-19 Deferred revenueStart of year $1,500$1,500
X-25 Other liabilitiesStart of year $600,000$600,000
X-26 Total liabilitiesStart of year $605,162$601,625
X-27 Net assets without donor restrictionsStart of year $747,985$816,856
X-28 Net assets with donor restrictions$299,410
X-32 Total net assets or fund balancesStart of year $747,985$1,116,266
X-33 Total liabilities and net assetsStart of year $1,353,147$1,717,891
Part XI · Reconciliation of net assets $1,116,266 net assets at year end
XI-1 Total revenue$408,238
XI-2 Total expenses$39,957
XI-3 Revenue less expenses$368,281
XI-4 Net assets at start of year$747,985
XI-10 Net assets at end of year$1,116,266

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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