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← HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

Form 990 for tax year 2023

Filed by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC.

Totals

Total revenue
$3,490,624
Total expenses
$1,992,861
Contributions and grants received
$2,539,595
Grants paid
$0
Program service revenue
$806,713
Investment income
$63,415
Other revenue
$80,901
Total assets, end of year
$17,876,756
Total liabilities, end of year
$3,021,042
Net assets or fund balances, end of year
$14,855,714
Program services expenses (Part IX)
$1,627,232
Management and general expenses
$365,629
Fundraising expenses
$0
Program service expenses (Part III)
$1,627,232

Program services were 81.7% 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.

  • 1c · Fundraising events

    $858

  • 1e · Government grants (contributions)

    $2,382,100

  • 1f · All other contributions, gifts and grants

    $156,637

  • 2a · Program service revenue: RENTAL INCOME

    total $801,713 · related or exempt $801,713

  • 2b · Program service revenue: DEVELOPER FEE

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

  • 3 · Investment income

    total $63,415 · excluded $63,415

  • 8a · Fundraising events: gross income

    $77,214

  • 8a · Fundraising events: contributions included on line 1c

    $858

  • 8b · Fundraising events: direct expenses

    $29,599

  • 8c · Net income from fundraising events

    total $47,615 · excluded $47,615

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $33,286 · excluded $33,286

  • 11e · Other revenue, total

    $33,286

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $439,132 · program services $200,134 · management and general $238,998

  • 9 · Other employee benefits

    total $5,084 · program services $5,084

  • 10 · Payroll taxes

    total $16,303 · program services $16,303

  • 11a · Fees: management

    total $50,546 · program services $50,546

  • 11b · Fees: legal

    total $32,257 · program services $3,731 · management and general $28,526

  • 11c · Fees: accounting

    total $43,001 · program services $19,751 · management and general $23,250

  • 12 · Advertising and promotion

    total $5,071 · program services $804 · management and general $4,267

  • 13 · Office expenses

    total $151,319 · program services $148,086 · management and general $3,233

  • 16 · Occupancy

    total $396,026 · program services $386,543 · management and general $9,483

  • 20 · Interest

    total $103,034 · program services $102,747 · management and general $287

  • 22 · Depreciation, depletion and amortization

    total $438,229 · program services $438,229

  • 23 · Insurance

    total $69,371 · program services $67,121 · management and general $2,250

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $121,982 · program services $66,647 · management and general $55,335

  • 24b · Other expenses: BAD DEBT

    total $100,812 · program services $100,812

  • 24c · Other expenses: REAL ESTATE TAXES

    total $20,694 · program services $20,694

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,227,926 · end of year $593,977

  • 3 · Pledges and grants receivable

    end of year $408,306

  • 4 · Accounts receivable

    beginning of year $322,835 · end of year $82,250

  • 7 · Other notes and loans receivable

    end of year $2,079,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,659 · end of year $4,845

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

    $15,390,243

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

    $3,958,996

  • 10c · Land, buildings and equipment, net

    beginning of year $9,901,084 · end of year $11,431,247

  • 13 · Investments: program-related

    beginning of year $261,172

  • 14 · Intangible assets

    beginning of year $4,425 · end of year $31,315

  • 15 · Other assets

    beginning of year $3,120,118 · end of year $3,245,816

  • 17 · Accounts payable and accrued expenses

    beginning of year $150,020 · end of year $770,710

  • 19 · Deferred revenue

    end of year $28,881

  • 23 · Secured mortgages and notes payable

    beginning of year $1,892,350 · end of year $2,164,990

  • 25 · Other liabilities

    beginning of year $67,210 · end of year $56,461

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $14,855,714

  • 28 · Net assets with donor restrictions

    beginning of year $12,733,639 · end of year $0

Mission and programs · 2023

Mission

BE A LEADER IN PROMOTING PROSPERITY AND DIVERSITY IN OUR COMMUNITIES BY PROVIDING QUALITY HOUSING SOLUTIONS.

  • HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT, INC. (THE "CORPORATION") IS AN INDIANA NOT-FOR-PROFIT CORPORATION ORGANIZED ON JANURARY 17, 2003, FOR THE PURPOSE OF ADDRESSING THE HOUSING NEEDS OF LOW AND MODERATE INCOME INDIVIDUALS, FAMILIES, AND SENIOR CITIZENS. THE CORPORATION PROVIDES AFFORDABLE HOUSING OPTIONS THROUGH THE DEVELOPMENT OF RENTAL PROPERTIES. THE CORPORATION HAS BEEN CERTIFIED BY THE INDIANA HOUSING AND COMMUNITY DEVELOPMENT AUTHORITY ("IHCDA") AS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION ("CHDO").IN 2013, HAND FACILITATED A COMPREHENSIVE HOUSING NEEDS ASSESSMENT FOR HAMILTON COUNTY. THIS STUDY INVOLVED IN DEPTH ANALYSIS AND EXTENSIVE OUTREACH TO DEVELOP A FULL UNDERSTANDING OF PRESSING HOUSING ISSUES AND A LIST OF STRATEGIES THAT MAY WORK IN LOCAL COMMUNITIES. AS A RESULT OF THIS ANALYSIS, THE BOARD OF DIRECTORS ADOPTED A STRATEGIC PLAN THAT OUTLINES NEW GOALS AND OBJECTIVES FOR 2014-2017. THIS PLAN CALLS FOR NEW PROGRAMS TO SUPPORT LOW INCOME HOMEOWNERS WITH REPAIRS, AND FOSTER GRASSROOTS COMMUNITY BUILDING INITIATIVES. THESE EFFORTS WILL BUILD A BROADER BASE OF SUPPORT, PURSUE MORE SUSTAINABLE PARTNERSHIPS AND DELIVER A MORE COMPREHENSIVE IMPACT ON THE COMMUNITY. HAND RELIES ON EARNED DEVELOPER FEES, PUBLIC AND PRIVATE GRANTS, AND PHILANTHROPY TO FUND OPERATIONS, AND THERE IS A RENEWED FOCUS ON THE ROLE OF VOLUNTEERS TO EXPAND SERVICES ACROSS HAMILTON COUNTY.HAND COMPLETED DEVELOPMENT OF 14 NEW APARTMENTS IN 2015, INCLUDING ROPER CAPSTONE AND SPICEWOOD GARDENS APARTMENTS PHASE 3. ROPER CAPSTONE IS A REHAB OF A VACANT BUILDING IN NOBLESVILLE, INDIANA, AND PROVIDES 6 NEW AFFORDABLE HOUSING UNITS. SPICEWOOD GARDENS APARTMENTS PHASE 3 PROVIDES 8 ADDITIONAL SENIOR UNITS IN SHERIDAN, INDIANA.DURING 2016, HAND PURCHASED LAND IN CARMEL, IN. HAND PLANS TO CONSTRUCT AND OPERATE A 10-UNIT COMMUNITY KNOWN AS HOME PLACE GARDENS, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME PERSONS.AS OF DECEMBER 31, 2023, THE CORPORATION HAD A 100% OWNERSHIP IN TEN ENTITIES:**HAND PLUM TREE GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, ORGANIZED TO OPERATE A 6-UNIT COMMUNITY KNOWN AS PLUM TREE GARDENS, LOCATED IN NOBLESVILLE, INDIANA, WHICH PROVIDES HOUSING FOR LOW-INCOME ELDERLY PERSONS. PLUM TREE GARDENS WAS BUILT USING PROCEEDS FROM THE CDBG AND HOME GRANTS AS WELL AS AFFORDABLE HOUSING PROGRAM ("AHP") FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS.**HAND DEVELOPMENT CORP. WAS FORMED FOR THE PURPOSE OF INVESTING IN VARIOUS LIMITED PARTNERSHIPS, WHICH HAVE BEEN ORGANIZED TO ACQUIRE, DEVELOP, OWN, AND OPERATE LOW-INCOME RESIDENTIAL RENTAL PROPERTIES. SUCH INVESTMENTS INCLUDE GENERAL PARTNER INTERESTS IN SPICEWOOD GARDEN APARTMENTS L.P., AND SPICEWOOD GARDEN APARTMENTS II, L.P., ENTITIES FORMED TO DEVELOP AND OPERATE SENIOR LIVING FACILITIES IN SHERIDAN, INDIANA.**HAND 8TH STREET REDEVELOPMENT, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, DEVELOP, AND REHABILITATE TWO MULTIFAMILY BUILDINGS IN NOBLESVILLE, INDIANA, COLLECTIVELY REFERRED TO AS THE ROPER LOFTS. THE ROPER LOFTS CONSIST OF 8 RESIDENTIAL UNITS, 2055 SQUARE FEET OF PUBLIC USE SPACE AND 317.5 SQUARE FEET OF COMMERCIAL SPACE, WHICH IS RENTED BY THE CORPORATION. THE ROPER LOFTS WERE REHABILITATED USING CDBG FUNDS UNDER THE NEIGHBORHOOD STABILIZATION PROGRAM ("NSP").**HAND PEBBLE BROOK GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 9-UNIT COMMUNITY KNOWN AS PEBBLE BROOK GARDENS LOCATED IN NOBLESVILLE, INDIANA, WHICH PROVIDES HOUSING FOR LOW-INCOME ELDERLY PERSONS. PEBBLE BROOK GARDENS WAS BUILT USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, AND AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS.**HAND LAKESIDE GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 5-UNIT COMMUNITY KNOWN AS LAKESIDE GARDENS LOCATED IN CICERO, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. LAKESIDE GARDENS WAS BUILT USING PROCEEDS FROM CDBG GRANTS AND AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS AND WAS PLACED IN SERVICE MAY 2014.**HAND SPICEWOOD GARDENS, PHASE 3, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE AN 8-UNIT COMMUNITY KNOWN AS SPICEWOOD GARDENS APARTMENTS PHASE 3 LOCATED IN SHERIDAN, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. CONSTRUCTION WAS COMPLETED DURING THE YEAR ENDED DECEMBER 31, 2015, AND THE COMMUNITY WAS PLACED IN SERVICE IN NOVEMBER 2015 AND BEGAN LEASING UNITS. SPICEWOOD GARDEN APARTMENTS PHASE 3 WAS BUILT USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, AND AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS.**HAND ROPER CAPSTONE, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 6-UNIT COMMUNITY KNOWN AS ROPER CAPSTONE LOCATED IN NOBLESVILLE, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME PERSONS. CONSTRUCTION WAS COMPLETED DURING THE YEAR ENDED DECEMBER 31, 2015, AND THE COMMUNITY WAS PLACED IN SERVICE IN DECEMBER 2015 AND BEGAN LEASING UNITS. ROPER CAPSTONE WAS BUILT USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS, NAP TAX CREDIT EQUITY, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING.**HAND HOME PLACE GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 10-UNIT COMMUNITY KNOWN AS HOME PLACE GARDENS LOCATED IN CARMEL, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME PERSONS. THE LAND WAS PURCHASED DURING THE YEAR ENDED DECEMBER 31, 2016 WITH PROCEEDS FROM A CDBG GRANT. HOME PLACE GARDENS WAS BUILT USING PROCEEDS FROM A HOME GRANT, AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING.**HAND HICKORY COMMONS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, RENOVATE, AND OPERATE A 33-UNIT COMMUNITY KNOWN AS HICKORY COMMONS IN LEBANON, INDIANA. ON APRIL 9, 2018, THE CORPORATION CLOSED ON THE PURCHASE OF HICKORY COMMONS. RENOVATIONS OF HICKORY COMMONS WERE COMPLETED IN JANUARY 2021. HICKORY COMMONS IS BEING RENOVATED USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING. **HAND SOUTHWOOD VILLAS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A COMMUNITY KNOWN AS SOUTHWOOD VILLAS IN TIPTON, INDIANA. ON AUGUST 6, 2019 THE CORPORATION CLOSED ON THE PURCHASE OF SOUTHWOOD VILLAS. CONSTRUCTION IS EXPECTED TO BE COMPLETED IN 2021. SOUTHWOOD VILLAS WILL BE BUILT USING PROCEEDS FROM A HOME GRANT, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING.**HAND CUMBERLAND COTTAGES, LLC, AN INDIANA LIMITED LIABILITY COMPANY, ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATING AN 11-UNIT COMMUNITY KNOWN AS CUMBERLAND COTTAGES IN FISHERS, INDIANA. ON DECEMBER 15, 2021, THE CORPORATION CLOSED ON THE PURCHASE OF CUMBERLAND COTTAGES. CONSTRUCTION COMMENCED IN 2022 AND IS EXPECTED TO BE COMPLETED IN 2023. CUMBERLAND COTTAGES IS BEING BUILT USING PROCEEDS FROM A HOME GRANT, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING.

    Expenses $1,627,232 · Revenue $806,713

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nick Surak

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3 + 0.3 related

  • Kert Toler

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3 + 0.3 related

  • Anne McKinley

    SECRETARY

    Total calculated
    $0
    Hours/week
    3 + 0.3 related

  • Jason Bainter

    TREASURER

    Total calculated
    $0
    Hours/week
    3 + 0.3 related

  • Brittany Heidenreich

    FORMER PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • M E Barwacz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Emily Barry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Keith Broadnax

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Carolyn Deines

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Bill Gossard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Lauren Guynn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Am Sanders

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

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.

Grants on this return

No itemized grants to organizations on this return.

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.

  • PLUM TREE GARDENS LLC

    SIX UNIT COMMUNITY FOR LOW INCOME ELDERLY · IN · income -$26,525 · assets $415,067

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • 8TH STREET REDEVELOPMENT LLC

    EIGHT UNITS RESIDENTIAL AND PUBLIC SPACE · IN · income -$75,052 · assets $1,065,759

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • PEBBLE BROOK GARDENS LLC

    NINE UNITS COMMUNITY FOR LOW INCOME ELDERLY · IN · income -$27,561 · assets $853,399

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • LAKESIDE GARDENS LLC

    FIVE UNIT COMMUNITY FOR LOW INCOME ELDERLY · IN · income -$22,106 · assets $609,087

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • HAND SPICEWOOD GARDENS PHASE 3 LLC

    EIGHT UNIT COMMUNITY FOR LOW INCOME ELDERLY · IN · income -$39,461 · assets $876,871

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • HAND ROPER CAPSTONE LLC

    SIX UNIT COMMUNITY FOR LOW INCOME PERSONS · IN · income -$44,562 · assets $766,055

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • HAND HOME PLACE GARDENS LLC

    TEN UNIT COMMUNITY FOR LOW INCOME PERSONS · IN · income -$73,454 · assets $2,121,701

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • HICKORY COMMONS LLC

    THIRTY FOUR UNIT COMMUNITY FOR LOW INCOME PERSONS · IN · income -$209,048 · assets $1,836,784

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • HAND SOUTHWOOD VILLAS LLC

    NINE UNIT COMMUNITY FOR LOW INCOME PERSONS · IN · income -$58,679 · assets $1,363,767

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

  • HAND CUMBERLAND COTTAGES LLC

    ELEVEN UNIT COMMUNITY FOR LOW INCOME PERSONS · IN

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

Related partnerships

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

  • SPICEWOOD GARDEN APARTMENTS

    RELATED · SENIOR HOUSING COMMUNITY CONTAINING 23 LOW-INCOME HOUSING UNITS · IN · share of income -$16 · share of assets $77,550 · general or managing partner

    Directly controlled by HAND DEVELOPMENT CORP

  • SPICEWOOD GARDEN APARTMENTS II

    RELATED · SENIOR HOUSING COMMUNITY CONTAINING 26 LOW-INCOME HOUSING UNITS · IN · share of income -$12 · share of assets $29,416 · general or managing partner

    Directly controlled by HAND DEVELOPMENT CORP

Related corporations and trusts

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

  • HAND DEVELOPMENT CORP

    C · LOW INCOME HOUSING · IN · 100% owned · share of income -$28 · share of assets $281

    Directly controlled by HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202403189349309220

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