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Nonprofiteer
← HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

Form 990 for tax year 2025

Filed by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC.

Totals

Total revenue
$26,205,605
Total expenses
$12,605,351
Contributions and grants received
$6,304,276
Grants paid
$0
Program service revenue
$10,569,227
Investment income
$9,099,970
Other revenue
$232,132
Total assets, end of year
$29,096,448
Total liabilities, end of year
$9,683,991
Net assets or fund balances, end of year
$19,412,457
Program services expenses (Part IX)
$10,551,509
Management and general expenses
$1,724,895
Fundraising expenses
$328,947
Program service expenses (Part III)
$10,551,509

Program services were 83.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $6,304,276

  • 1g · Noncash contributions included above

    $210,000

  • 2a · Program service revenue: REIMBURSED PERSONNEL

    total $6,163,070 · related or exempt $6,163,070

  • 2b · Program service revenue: MANAGEMENT FEES

    total $2,520,032 · related or exempt $2,520,032

  • 2c · Program service revenue: DEVELOPMENT FEES

    total $1,836,517 · related or exempt $1,836,517

  • 2d · Program service revenue: ON CALL REVENUE

    total $44,608 · related or exempt $44,608

  • 2e · Program service revenue: SERVICE AND CONSULTING FEES

    total $5,000 · related or exempt $5,000

  • 3 · Investment income

    total $1,036,110 · excluded $1,036,110

  • 7a · Gross sales of assets other than inventory

    other assets $8,203,934

  • 7b · Less cost or other basis and sales expenses

    other assets $140,074

  • 7c · Gain or loss

    other assets $8,063,860

  • 7d · Net gain or loss

    total $8,063,860 · excluded $8,063,860

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $232,132 · related or exempt $232,132

  • 11e · Other revenue, total

    $232,132

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $832,751 · program services $744,364 · management and general $69,102 · fundraising $19,285

  • 7 · Other salaries and wages

    total $7,463,902 · program services $6,659,807 · management and general $629,611 · fundraising $174,484

  • 8 · Pension plan contributions

    total $165,085 · program services $150,944 · management and general $11,222 · fundraising $2,919

  • 9 · Other employee benefits

    total $1,247,753 · program services $1,163,559 · management and general $56,755 · fundraising $27,439

  • 10 · Payroll taxes

    total $695,662 · program services $627,187 · management and general $55,387 · fundraising $13,088

  • 11b · Fees: legal

    total $88,667 · program services $24,635 · management and general $64,032

  • 11c · Fees: accounting

    total $101,252 · program services $62,425 · management and general $31,169 · fundraising $7,658

  • 11g · Fees: other

    total $607,091 · program services $243,204 · management and general $352,767 · fundraising $11,120

  • 12 · Advertising and promotion

    total $24,407 · program services $742 · management and general $1,077 · fundraising $22,588

  • 13 · Office expenses

    total $162,592 · program services $119,644 · management and general $35,319 · fundraising $7,629

  • 14 · Information technology

    total $171,915 · program services $18,551 · management and general $145,148 · fundraising $8,216

  • 16 · Occupancy

    total $106,521 · program services $74,487 · management and general $24,233 · fundraising $7,801

  • 17 · Travel

    total $104,539 · program services $89,496 · management and general $14,074 · fundraising $969

  • 19 · Conferences, conventions and meetings

    total $29,844 · program services $17,751 · management and general $10,413 · fundraising $1,680

  • 20 · Interest

    total $157,695 · program services $102,303 · management and general $55,392

  • 22 · Depreciation, depletion and amortization

    total $59,520 · management and general $59,520

  • 23 · Insurance

    total $142,870 · program services $66,411 · management and general $75,095 · fundraising $1,364

  • 24a · Other expenses: SUPPORTIVE SERVICES

    total $242,279 · program services $242,279

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $44,416 · program services $17,310 · management and general $9,243 · fundraising $17,863

  • 24c · Other expenses: MISC. OPERATING EXPENSE

    total $42,017 · program services $21,539 · management and general $18,422 · fundraising $2,056

  • 24d · Other expenses: PROPERTY HOLDING COST

    total $40,259 · program services $40,135 · management and general $94 · fundraising $30

  • 24e · All other expenses

    total $74,314 · program services $64,736 · management and general $6,820 · fundraising $2,758

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $684,311 · end of year $1,665,069

  • 2 · Savings and temporary cash investments

    beginning of year $2,591,236 · end of year $964,681

  • 4 · Accounts receivable

    beginning of year $8,423,540 · end of year $8,886,382

  • 7 · Other notes and loans receivable

    beginning of year $11,378,778 · end of year $7,824,046

  • 9 · Prepaid expenses and deferred charges

    beginning of year $190,357 · end of year $198,591

  • 10a · Land, buildings and equipment: cost or other basis

    $1,843,925

  • 10b · Land, buildings and equipment: accumulated depreciation

    $224,469

  • 10c · Land, buildings and equipment, net

    beginning of year $1,612,696 · end of year $1,619,456

  • 13 · Investments: program-related

    beginning of year $4,903,543 · end of year $6,154,067

  • 15 · Other assets

    beginning of year $1,889,592 · end of year $1,784,156

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,391,768 · end of year $1,475,588

  • 19 · Deferred revenue

    beginning of year $4,060,556 · end of year $3,013,424

  • 23 · Secured mortgages and notes payable

    beginning of year $5,038,080 · end of year $4,310,144

  • 25 · Other liabilities

    beginning of year $986,224 · end of year $884,835

  • 27 · Net assets without donor restrictions

    beginning of year $20,197,425 · end of year $19,412,457

Mission and programs · 2025

Mission

HDC'S MISSION IS TO MANAGE AND DEVELOP QUALITY AFFORDABLE HOUSING.

  • HDC'S PROPERTY MANAGEMENT SERVICES HAS:-SOLID TRACK RECORD OF FINANCIAL RESULTS AND PERFORMANCE-DEDICATED STAFF ENSURING QUALIFIED RESIDENT SELECTION-LICENSED PROFESSIONAL ON-SITE MANAGERS AND EXPERIENCED MAINTENANCE STAFF ON CALL 24 HOURS A DAYHDC PROVIDES LICENSED, PROPERTY MANAGEMENT SERVICES WITH STATE-OF-THE-ART PRACTICES AND SUPERIOR STANDARDS.

    Expenses $8,171,529 · Revenue $8,732,710

  • HDC'S REAL ESTATE DEVELOPMENT SERVICES FOCUS ON:-MANAGING ON-TIME AND ON-BUDGET NEW CONSTRUCTION WITH A FOCUS ON RENEWABLE ENERGY-PRESERVING HISTORIC OR TROUBLED PROPERTIES THROUGH ACQUISITIONS AND REHABILITATION-CAPITALIZING ON MULTIPLE FINANCING SOURCESTHROUGH ADAPTIVE RE-USE OF OBSOLETE BUILDINGS, PROPERTY REHABILITATION AND NEW CONSTRUCTION, HDC WORKS WITH COMMUNITIES TO FULFILL THEIR DEVELOPMENT OBJECTIVES. STRONG SUPPORT FROM LENDING INSTITUTIONS AS WELL AS PUBLIC AND PRIVATE PARTNERS HAS ALLOWED HDC TO PURSUE THIS PURPOSE AGGRESSIVELY.HDC'S REAL ESTATE DEVELOPMENT TEAM APPROACHES EACH PROJECT WITH THE UNDERSTANDING THAT HDC WILL BE INVOLVED IN THE PRESERVATION OF OWNERSHIP. WITH THAT IN MIND, DECISIONS ON DESIGN AND PRODUCTS ARE MADE WITH ATTENTION TO LONG-TERM MAINTENANCE, OPERATIONAL EFFICIENCY, AND RESIDENT SATISFACTION.

    Expenses $1,157,048 · Revenue $1,836,517

  • HDC'S RESIDENT SERVICES:-STRENGTHEN THE MENTAL, PHYSICAL, FINANCIAL AND EMOTIONAL HEALTH OF OUR RESIDENTS AND COMMUNITIES-TRAINED RESIDENT SERVICES COORDINATORS ADVOCATE AND CONNECT RESIDENTS TO RESOURCES-CONTRIBUTES TO SELF-SUFFICIENCY AND LONG-TERM STABILITY FOR RESIDENTSTHE RESIDENT SERVICES DEPARTMENT PROVIDES ACCESS TO INFORMATION AND SERVICES TO ENCOURAGE GROWTH, INDEPENDENCE, AND STABILITY IN THE COMMUNITIES SERVED.

    Expenses $1,222,932

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Loaidia Rodriguez

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Angela Steele

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Karen Shenk

    TREASURER & SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Brooke Baker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Diane Elliot

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Michel Gibeault

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Aareon A Harley-Emerson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Edwin Martinez Feliciano

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Tyrone Miller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Bradley Peters

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Lisa Riggs

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel Sansary

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Rene Sanchez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Dana Hanchin

    PRESIDENT/CEO

    Total calculated
    $279,538
    From this org
    $270,085
    From related orgs
    $0
    Other
    $9,453
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $270,085
    Bonus
    $0
    Other
    $0
    Deferred
    $9,453
    Nontaxable benefits
    $0
    Filer's total
    $279,538

  • Sam Jordan

    CFO

    Total calculated
    $173,230
    From this org
    $164,250
    From related orgs
    $0
    Other
    $8,980
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,250
    Bonus
    $0
    Other
    $0
    Deferred
    $5,939
    Nontaxable benefits
    $3,041
    Filer's total
    $173,230

  • Tammie Fitzpatrick

    COO

    Total calculated
    $174,044
    From this org
    $162,974
    From related orgs
    $0
    Other
    $11,070
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,974
    Bonus
    $0
    Other
    $0
    Deferred
    $5,704
    Nontaxable benefits
    $5,366
    Filer's total
    $174,044

  • Sharlene Woodruff

    PROPERTY CONTROLLER

    Total calculated
    $136,750
    From this org
    $132,126
    From related orgs
    $0
    Other
    $4,624
    Hours/week
    40

  • Kimberly Krauter

    SVP REAL ESTATE DEVELOPMENT

    Total calculated
    $205,938
    From this org
    $189,955
    From related orgs
    $0
    Other
    $15,983
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,955
    Bonus
    $0
    Other
    $0
    Deferred
    $6,648
    Nontaxable benefits
    $9,335
    Filer's total
    $205,938

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • SYLVAN RETREAT APARTMENTS INC

    501(C)(3) · CONSTRUCT & OPERATE A RENTAL HOUSING FACILITY FOR LOW INCOME ELDERLY TENANTS · PA · controlled entity

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CLAYMONT STREET APARTMENTS LP

    LOW INCOME HOUSING · PA

  • OAK BOTTOM VILLAGE ASSOCIATES

    RELATED · LOW INCOME HOUSING · PA

  • SMYRNA GARDENS ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • MIDATLANTIC AFFORDABLE HOUSING ASSOCIATESLP

    LOW INCOME HOUSING · PA

  • GOVERNOR'S GATE APARTMENTS ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • DE BOND I LP

    RELATED · LOW INCOME HOUSING · PA

  • 1528 WEST LP

    LOW INCOME HOUSING · PA

  • QUAKER ARTS LLC

    LOW INCOME HOUSING · PA

  • ADAMSBURRY ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • TC 4 LP

    LOW INCOME HOUSING · PA

  • STONE FORGE VILLAGE ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • ST STANISLAUS ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • SOUTH BETHLEHEM PARTNERSLP

    LOW INCOME HOUSING · PA

  • SAINT VINCENT APARTMENTS LP

    LOW INCOME HOUSING · PA

  • SAINT JOHN APARTMENTS LP

    LOW INCOME HOUSING · PA

  • RIVER RUN MEADOWS APARTMENTS ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • MOUNTAIN VIEW TERRACE LP

    LOW INCOME HOUSING · PA

  • WILLOW RIDGE ASSOCIATES

    LOW INCOME HOUSING · PA

  • MOLLY PITCHER ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • BOND 3 LP

    LOW INCOME HOUSING · PA

  • BOND 2 LP

    LOW INCOME HOUSING · PA

  • LIHTC PRESERVATION PARTNERS

    LOW INCOME HOUSING · PA

  • LARKSPUR CROSSING ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • MARKET SQUARE APARTMENTS PARTNERS

    LOW INCOME HOUSING · PA

  • HENNER APARTMENTS ASSOCIATES LP

    LOW INCOME HOUSING · PA

  • CCPI LLC

    LOW INCOME HOUSING · PA

  • EAST LAKE PARTNERS LP

    LOW INCOME HOUSING · PA

  • NORRISWOOD APARTMENTS ASSOCIATES

    LOW INCOME HOUSING · PA · 1% owned · share of income $593,153

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • HOUSING ASSOCIATES OF LANCASTER

    LOW INCOME HOUSING · PA

  • BOND 5 LP

    LOW INCOME HOUSING · PA

  • DUKE MANOR PARTNERS

    RELATED · LOW INCOME HOUSING · PA · 66.67% owned · share of income $127,943 · share of assets $2,070,323

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • LANDISVILLE APARTMENTS ASSOCIATES

    RELATED · LOW INCOME HOUSING · PA · 99.99% owned

    Directly controlled by HDC INVESTMENTS INC

  • LANDISVILLE II APARTMENT ASSOCIATES

    LOW INCOME HOUSING · PA

  • CATHOLIC SENIOR HOUSING PARTNERS LP

    LOW INCOME HOUSING · PA

  • NFO PARTNERS

    RELATED · LOW INCOME HOUSING · PA · 99.99% owned

    Directly controlled by HDC INVESTMENTS INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BOND 2 GP LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$31 · share of assets $1,366

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • BOND 3 GP LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$333,872 · share of assets $1,746

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • BOND 5 GP LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$128,605

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • COLLEGE AVENUE 3 GP LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$137 · share of assets $10,133

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • HDC INVESTMENTS INC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$21,536 · share of assets $1,791,527

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • INTERIM PARTNER LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income $459,296

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • LIHTC PRESERVATION PARTNERS I GPINC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$17 · share of assets $1,310

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • MARKET SQUARE GENERAL PARTNER INC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$15 · share of assets $300

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • NORRISWOOD ASSOCIATES GP LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income $5,992

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • SOUTH BETHLEHEM GENERAL PARTNERS LTD

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$25 · share of assets $656

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • TC 4 GP LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$56 · share of assets $2,568

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • HDC CLAYMONT STREET INC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$60,254 · share of assets $377

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

  • ADAMSBURRY ASSOCIATES GP LLC

    C · REAL ESTATE DEVELOPMENT · PA · 100% owned · share of income -$351 · share of assets $2,339

    Directly controlled by HOUSING DEVELOPMENT CORPORATION MIDATLANTIC

Provenance

Return type
form_990
Tax year
2025
Filed
10 September 2026
IRS schema version
2025v4.2
Source object
202612539349301316

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