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← HOUSING DEVELOPMENT FOUNDATION INC

Form 990 for tax year 2023

Filed by HOUSING DEVELOPMENT FOUNDATION INC.

Totals

Total revenue
$931,548
Total expenses
$730,144
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$916,070
Investment income
$15,478
Other revenue
$0
Total assets, end of year
$5,471,470
Total liabilities, end of year
$3,693,064
Net assets or fund balances, end of year
$1,778,406
Program services expenses (Part IX)
$671,640
Management and general expenses
$58,504
Fundraising expenses
$0
Program service expenses (Part III)
$671,640

Program services were 92.0% 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.

  • 2a · Program service revenue: ROOM RENTAL

    total $916,070 · related or exempt $916,070

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $15,478 · excluded $15,478

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $45,804 · management and general $45,804

  • 11c · Fees: accounting

    total $12,700 · management and general $12,700

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $338,335 · program services $338,335

  • 20 · Interest

    total $96,510 · program services $96,510

  • 22 · Depreciation, depletion and amortization

    total $148,596 · program services $148,596

  • 23 · Insurance

    total $40,574 · program services $40,574

  • 24a · Other expenses: BANK FEES

    total $47,625 · program services $47,625

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $645,961 · end of year $237,874

  • 4 · Accounts receivable

    beginning of year $784,370 · end of year $1,700,440

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $6,448,802

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

    $2,915,646

  • 10c · Land, buildings and equipment, net

    beginning of year $3,571,227 · end of year $3,533,156

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $700,127 · end of year $1,237,399

  • 20 · Tax-exempt bond liabilities

    beginning of year $2,724,429 · end of year $2,455,665

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,577,002 · end of year $1,778,406

Mission and programs · 2023

Mission

HOUSING DEVELOPMENT FOUNDATION, INC. PROVIDES HOUSING TO COLLEGE STUDENTS.

Activities or mission (Part I)

TO PROVIDE HOUSING FOR COLLEGE STUDENTS.

  • HOUSING DEVELOPMENT FOUNDATION, INC. PROVIDES HOUSING FOR COLLEGES AND OTHER ORGANIZATIONS THAT ARE TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.

    Expenses $671,640 · Revenue $916,070

As filed on the 2023 return.

Listed in Part VII

  • John McKenna

    VICE PRESIDENT & SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tom Hildebrandt

    PRESIDENT & TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ken Motsenbocker START 0324

    Chief Financial Officer

    Total calculated
    $0
    Hours/week
    1 + 41 related

  • Laurie J Leo LEFT 0324

    Chief Financial Officer

    Total calculated
    $160,861
    From this org
    $0
    From related orgs
    $156,938
    Other
    $3,923
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,938 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,923 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $160,861 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. 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

The filer's explanations (Part III)

Schedule J, Part II
COMPENSATION FOR THOSE LISTED ON SCHEDULE J IS PAID BY ROBERTS WESLEYAN UNIVERSITY, A RELATED ORGANIZATION.

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.

  • ROBERTS WESLEYAN UNIVERSITY

    501(c)(3) · EDUCATION · NY

    Directly controlled by NA

  • NORTHEASTERN SEMINARY

    501(c)(3) · EDUCATION · NY

    Directly controlled by RWU

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.

  • HDF-RWC PROJECT 1 LLC

    HOUSING · NY · income $201,404 · assets $1,778,406

    Directly controlled by HDF

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202541349349301644

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