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Nonprofiteer
← HOUSING OPPORTUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by HOUSING OPPORTUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,194,923
Total expenses
$2,116,806
Contributions and grants received
$449,759
Grants paid
$0
Program service revenue
$1,424,332
Investment income
$164,281
Other revenue
$156,551
Total assets, end of year
$15,916,660
Total liabilities, end of year
$4,818,458
Net assets or fund balances, end of year
$11,098,202
Program services expenses (Part IX)
$1,927,305
Management and general expenses
$136,253
Fundraising expenses
$53,248
Program service expenses (Part III)
$1,927,305

Program services were 91.0% 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

    $449,759

  • 2a · Program service revenue: SALARY REIMBURSEMENT

    total $607,697 · related or exempt $607,697

  • 2b · Program service revenue: MISCELLANEOUS INCOME

    total $282,306 · related or exempt $282,306

  • 2c · Program service revenue: DEVELOPMENT FEE

    total $262,706 · related or exempt $262,706

  • 2d · Program service revenue: MANAGEMENT FEES

    total $257,781 · related or exempt $257,781

  • 2e · Program service revenue: PARTNERSHIP MGMT FEE

    total $13,842 · related or exempt $13,842

  • 3 · Investment income

    total $164,281 · excluded $164,281

  • 6a · Gross rents

    real property $560,645

  • 6b · Less rental expenses

    real property $404,094

  • 6c · Rental income or loss

    real property $156,551

  • 6d · Net rental income or loss

    total $156,551 · related or exempt $156,551

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,255,279 · program services $1,077,575 · management and general $125,528 · fundraising $52,176

  • 10 · Payroll taxes

    total $86,859 · program services $86,859

  • 13 · Office expenses

    total $107,247 · program services $95,450 · management and general $10,725 · fundraising $1,072

  • 20 · Interest

    total $26,508 · program services $26,508

  • 23 · Insurance

    total $138,321 · program services $138,321

  • 24a · Other expenses: MISC OPERATING & MAINT

    total $166,323 · program services $166,323

  • 24b · Other expenses: UTILITIES

    total $103,001 · program services $103,001

  • 24c · Other expenses: CONSULTING FEES

    total $96,500 · program services $96,500

  • 24d · Other expenses: ENTITY EXPENSES

    total $70,822 · program services $70,822

  • 24e · All other expenses

    total $65,946 · program services $65,946

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,044,835 · end of year $887,411

  • 4 · Accounts receivable

    beginning of year $25,252 · end of year $60,315

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

    $10,960,202

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

    $3,907,842

  • 10c · Land, buildings and equipment, net

    beginning of year $7,084,638 · end of year $7,052,360

  • 14 · Intangible assets

    beginning of year $164,509 · end of year $155,971

  • 15 · Other assets

    beginning of year $7,597,940 · end of year $7,760,603

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,861 · end of year $32,478

  • 23 · Secured mortgages and notes payable

    beginning of year $3,713,169 · end of year $3,665,747

  • 25 · Other liabilities

    beginning of year $1,073,822 · end of year $1,120,233

  • 27 · Net assets without donor restrictions

    beginning of year $11,103,322 · end of year $11,098,202

Mission and programs · 2022

Mission

TO PROVIDE LOW-COST AND/OR RENT SUBSIDIZED HOUSING TO LOW/MODERATE INCOME CITIZENS IN THE NORTH SUBURBAN COMMUNITIES OF CHICAGO IN COOK AND LAKE COUNTIES, ILLINOIS

  • PROVIDE LOW COST/RENT SUBSIDIZED HOUSING TO LOW INCOME CITIZENS IN COMMUNITIES IN THE NORTHERN SUBURBS OF METROPOLITAN CHICAGO

    Expenses $1,927,305 · Revenue $1,424,332

As filed on the 2022 return.

Listed in Part VII

  • Otis Gatlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy A Geary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kierra Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deana Haynes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Kaplan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chealon Ann Shears

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jon Teuber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sydney Zimelis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Homan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William A Sholten III

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kathleen Cortez

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Michael Cornell

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Robert J Rodriguez

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kristin A Berg

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Richard Koenig

    EXECUTIVE DIRECTOR

    Total calculated
    $189,000
    From this org
    $189,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $189,000

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

None.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PHHH LLC

    AFFORDABLE HSG · IL · income -$16,755 · assets $722,649

    Directly controlled by HODC

  • HODC SKOKIE LLC

    AFFORDABLE HSG · IL · income $120,587 · assets $2,535,515

    Directly controlled by HODC

  • HODC GLENVIEW LLC

    AFFORDABLE HSG · IL · income -$119,696 · assets $3,132,213

    Directly controlled by HODC

  • HODC OFFICE LLC

    AFFORDABLE HSG · IL · income -$5,750 · assets $483,493

    Directly controlled by HODC

Related partnerships

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

  • 131 CALLAN LLC

    AFFORDABLE HSG · IL · 90.1% owned · share of income -$20,982 · share of assets $247,901 · general or managing partner

    Directly controlled by HODC

  • IHDC II LIMITED

    AFFORDABLE HSG · IL · 100% owned · share of income -$185,372 · share of assets $1,671,161 · general or managing partner

    Directly controlled by HODC

  • CONRAD LP

    AFFORDABLE HSG · IL · 0.01% owned · share of income -$14 · share of assets $315 · general or managing partner

    Directly controlled by GSV DEVELOPMENT

  • HEART'S PLACE LP

    AFFORDABLE HSG · IL · 0.01% owned · share of income -$23 · share of assets $647 · general or managing partner

    Directly controlled by HEART'S PLACE GP LLC

  • CARY SENIOR LIVING LP

    AFFORDABLE HSG · IL · 0.01% owned · share of income -$41 · share of assets $1,574 · general or managing partner

    Directly controlled by CARY SENIOR LIVING GP LLC

  • SPRUCE VILLAGE LP

    AFFORDABLE HSG · IL · 0.01% owned · share of income -$51 · share of assets $1,139 · general or managing partner

    Directly controlled by SPRUCE VILLAGE LLC

  • HODC WILMETTE LIMITED PARTNERSHIP

    AFFORDABLE HSG · IL · 0.01% owned · share of income -$20 · share of assets $676 · general or managing partner

    Directly controlled by HODC WILMETTE LLC

  • UP HANOVER LANDING LP

    AFFORDABLE HSG · IL · share of assets $167 · general or managing partner

    Directly controlled by HODC HANOVER LANDING GP LLC

Related corporations and trusts

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

  • IHDC II CORP

    C · AFFORDABLE HSG · IL · 100% owned · share of income -$175 · share of assets $124,477

    Directly controlled by HODC

  • GSV DEVELOPMENT CORPORATION

    C · AFFORDABLE HSG · IL · 100% owned · share of income -$14 · share of assets $40,921

    Directly controlled by HODC

  • HEARTS PLACE GP LLC

    C · AFFORDABLE HSG · IL · 100% owned · share of income -$23 · share of assets $345,019

    Directly controlled by HODC

  • CARY SENIOR LIVING GP LLC

    C · AFFORDABLE HSG · IL · 100% owned · share of income -$41 · share of assets $629,304

    Directly controlled by HODC

  • SPRUCE VILLAGE LLC

    C · AFFORDABLE HSG · IL · 100% owned · share of assets $85,996

    Directly controlled by HODC

  • HODC WILMETTE LLC

    C · AFFORDABLE HSG · IL · 100% owned · share of income -$20 · share of assets $273,728

    Directly controlled by HODC

  • HODC BROADVIEW LLC

    C · AFFORDABLE HSG · IL · 100% owned · share of income -$50 · share of assets $1,993,742

    Directly controlled by HODC

  • HODC HANOVER LANDING GP LLC

    C · AFFORDABLE HSG · IL · 100% owned · share of assets $128,080

    Directly controlled by HODC

Provenance

Return type
form_990
Tax year
2022
Filed
21 November 2023
IRS schema version
2022v5.0
Source object
202343259349301274

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