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← HDC FOUNDATION INC

Form 990 for tax year 2023

Filed by HDC FOUNDATION INC.

Totals

Total revenue
$121,358
Total expenses
$135,090
Contributions and grants received
$75,897
Grants paid
$0
Program service revenue
$45,035
Investment income
$182
Other revenue
$244
Total assets, end of year
$250,848
Total liabilities, end of year
$25,519
Net assets or fund balances, end of year
$225,329
Program services expenses (Part IX)
$110,675
Management and general expenses
$24,415
Fundraising expenses
$0
Program service expenses (Part III)
$110,675

Program services were 81.9% 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.

  • 1e · Government grants (contributions)

    $75,897

  • 2a · Program service revenue: Rent Revenue

    total $45,035 · related or exempt $45,035

  • 3 · Investment income

    total $182 · excluded $182

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Laundry & Vending

  • 11b · Other revenue: Miscellaneous Income

  • 11c · Other revenue: Tenant Charges

    total $244 · related or exempt $244

  • 11e · Other revenue, total

    $244

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $25,377 · program services $25,377

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $4,738 · program services $4,738

  • 10 · Payroll taxes

    total $2,045 · program services $2,045

  • 11a · Fees: management

    total $15,177 · management and general $15,177

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $9,238 · management and general $9,238

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $4,963 · program services $4,963

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $582 · program services $582

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $22,429 · program services $22,429

  • 23 · Insurance

    total $3,726 · program services $3,726

  • 24a · Other expenses: Utilities

    total $16,098 · program services $16,098

  • 24b · Other expenses: Contract Services

    total $9,916 · program services $9,916

  • 24c · Other expenses: Admin Rent Free Unit

    total $8,280 · program services $8,280

  • 24d · Other expenses: Property Taxes

    total $4,221 · program services $4,221

  • 24e · All other expenses

    total $8,300 · program services $8,300

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $316 · end of year $3,658

  • 2 · Savings and temporary cash investments

    beginning of year $18,090 · end of year $18,905

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $1,168 · end of year $364

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,844 · end of year $1,844

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

    $863,127

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

    $641,109

  • 10c · Land, buildings and equipment, net

    beginning of year $241,109 · end of year $222,018

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $3,631 · end of year $4,059

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,688 · end of year $10,888

  • 19 · Deferred revenue

    beginning of year $295 · end of year $126

  • 25 · Other liabilities

    beginning of year $14,114 · end of year $14,505

  • 27 · Net assets without donor restrictions

    beginning of year $239,061 · end of year $225,329

Mission and programs · 2023

Mission

Low-Income Handicapped Housing

  • Provides housing to Low-income, adult, handicapped individuals under Section 122(D)(4) of the National Housing Act through the operation of a 15 unit apartment complex. HUD regulated.

    Expenses $110,675 · Revenue $121,358

As filed on the 2023 return.

Listed in Part VII

  • Gail Ryder

    Vice President

    Total calculated
    $663,578
    From this org
    $0
    From related orgs
    $600,801
    Other
    $62,777
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    not reported + $333,509 related
    Bonus
    not reported + $129,661 related
    Other
    not reported + $137,631 related
    Deferred
    not reported + $39,282 related
    Nontaxable benefits
    not reported + $23,495 related
    Filer's total
    not reported + $663,578 related

  • Philip H Chesnut

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Beverly R Barnett

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Bill Butler

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Robert Hale

    Director

    Total calculated
    $0
    Hours/week
    1

  • Alfred W Torrence J Esq

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • John Foster

    Director

    Total calculated
    $0
    Hours/week
    1

  • Charles Imbergamo

    Director

    Total calculated
    $0
    Hours/week
    1

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

  • 2 · Substantiation required before reimbursing expenses
  • 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.

Related partnerships

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

  • Medspecialists Inc

    Ambulatory · FL

    Directly controlled by NA

Related corporations and trusts

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

  • Morton Plant Health Ventures Inc

    C Corp · Provide services to related health care entities · FL

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
20 January 2025
IRS schema version
2023v6.0
Source object
202500209349301625

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