Form 990 for tax year 2022
Filed by INSTITUTE FOR COMMUNITY ECONOMICS INC.
Totals
- Total revenue
- $377,333
- Total expenses
- $309,843
- Contributions and grants received
- $61,633
- Grants paid
- $0
- Program service revenue
- $300,223
- Investment income
- $15,477
- Other revenue
- $0
- Total assets, end of year
- $9,642,664
- Total liabilities, end of year
- $8,235,385
- Net assets or fund balances, end of year
- $1,407,279
- Program services expenses (Part IX)
- $244,534
- Management and general expenses
- $40,317
- Fundraising expenses
- $24,992
- Program service expenses (Part III)
- $244,534
Program services were 78.9% 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.
-
1f · All other contributions, gifts and grants
$61,633
-
2a · Program service revenue: INTEREST FROM LOANS
total $265,865 · related or exempt $265,865
-
2b · Program service revenue: LOAN FEES
total $24,171 · related or exempt $24,171
-
2c · Program service revenue: OTHER LOAN FEES
total $10,187 · related or exempt $10,187
-
3 · Investment income
total $18,600 · excluded $18,600
-
7b · Less cost or other basis and sales expenses
securities $3,123
-
7c · Gain or loss
securities -$3,123
-
7d · Net gain or loss
total -$3,123 · excluded -$3,123
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $2,667 · program services $1,947 · management and general $427 · fundraising $293
-
11c · Fees: accounting
total $11,004 · program services $8,033 · management and general $1,760 · fundraising $1,211
-
11g · Fees: other
total $170,633 · program services $124,562 · management and general $27,301 · fundraising $18,770
-
12 · Advertising and promotion
total $4 · program services $4
-
13 · Office expenses
total $13,190 · program services $9,629 · management and general $2,110 · fundraising $1,451
-
16 · Occupancy
total $27,993 · program services $20,141 · management and general $4,817 · fundraising $3,035
-
17 · Travel
total $242 · program services $176 · management and general $39 · fundraising $27
-
19 · Conferences, conventions and meetings
total $1,870 · program services $1,366 · management and general $299 · fundraising $205
-
20 · Interest
total $78,676 · program services $78,676
-
23 · Insurance
total $3,564 · management and general $3,564
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,716,355 · end of year $4,639,282
-
2 · Savings and temporary cash investments
beginning of year $107,104 · end of year $104,960
-
4 · Accounts receivable
beginning of year $18,183 · end of year $108,690
-
7 · Other notes and loans receivable
beginning of year $3,623,524 · end of year $3,586,311
-
9 · Prepaid expenses and deferred charges
beginning of year $3,937 · end of year $1,269
-
10a · Land, buildings and equipment: cost or other basis
$14,459
-
10b · Land, buildings and equipment: accumulated depreciation
$14,454
-
10c · Land, buildings and equipment, net
beginning of year $5 · end of year $5
-
11 · Investments: publicly traded securities
beginning of year $654,889 · end of year $1,202,147
-
17 · Accounts payable and accrued expenses
beginning of year $77,533 · end of year $187,881
-
19 · Deferred revenue
end of year $3,784,510
-
23 · Secured mortgages and notes payable
beginning of year $4,738,628 · end of year $4,262,994
-
27 · Net assets without donor restrictions
beginning of year $1,307,836 · end of year $1,407,279
Mission and programs · 2022
Mission
TO PROMOTE THE COMMUNITY LAND TRUST MODEL OF PERMANENT AFFORDABLE HOUSING, LAND STEWARDSHIP AND COMMUNITY DEVELOPMENT THROUGH THE OPERATION OF A REVOLVING LOAN FUND.
-
MADE LOW INTEREST LOANS TO COMMUNITY ORGANIZATIONS FOR HOUSING, LAND, AND COMMUNITY DEVELOPMENT PROJECTS DESIGNED TO AID LOW-INCOME PEOPLE.
Expenses $244,534 · Revenue $300,223
As filed on the 2022 return.
Listed in Part VII
-
Brett MacLeodBRETT MACLEOD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Chrystal KornegayCHRYSTAL KORNEGAY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Dan EhrenbergDAN EHRENBERG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
John ManevalJOHN MANEVAL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Leila FinucaneLEILA FINUCANE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lori GlassLORI GLASS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Marla BilonickMARLA BILONICK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Priya JayachandranPRIYA JAYACHANDRAN
PRESIDENT AND BOARD MEMBER
- Total calculated
- $355,046
- From this org
- $288,335
- From related orgs
- $0
- Other
- $66,711
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $286,772
- Bonus
- $500
- Other
- $1,063
- Deferred
- $17,920
- Nontaxable benefits
- $48,791
- Filer's total
- $355,046
-
Ron GrzywinskiRON GRZYWINSKI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Sal Steven-HubbardSAL STEVEN-HUBBARD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Vince ToyeVINCE TOYE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Alice Hamilton EvertALICE HAMILTON EVERT
ASSISTANT SECRETARY/SECRETARY
- Total calculated
- $111,342
- From this org
- $86,091
- From related orgs
- $0
- Other
- $25,251
- Hours/week
- 14 + 26 related
-
Angela BrunoANGELA BRUNO
TREASURER
- Total calculated
- $70,363
- From this org
- $60,366
- From related orgs
- $0
- Other
- $9,997
- Hours/week
- 4 + 36 related
-
Josh EarnJOSH EARN
VICE PRESIDENT
- Total calculated
- $215,570
- From this org
- $170,537
- From related orgs
- $0
- Other
- $45,033
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $169,073
- Bonus
- $500
- Other
- $964
- Deferred
- $10,800
- Nontaxable benefits
- $34,233
- Filer's total
- $215,570
-
Klade HareKLADE HARE
SECRETARY
- Total calculated
- $71,639
- From this org
- $54,979
- From related orgs
- $0
- Other
- $16,660
- Hours/week
- 4 + 36 related
-
Mary RangelMARY RANGEL
SECRETARY
- Total calculated
- $101,782
- From this org
- $86,550
- From related orgs
- $0
- Other
- $15,232
- Hours/week
- 40
-
Nicole MeyerNICOLE MEYER
ASSISTANT SECRETARY
- Total calculated
- $93,460
- From this org
- $72,799
- From related orgs
- $0
- Other
- $20,661
- Hours/week
- 6 + 34 related
-
Richard BragunierRICHARD BRAGUNIER
TREASURER
- Total calculated
- $127,197
- From this org
- $115,113
- From related orgs
- $0
- Other
- $12,084
- Hours/week
- 20 + 20 related
-
Steven SpearsSTEVEN SPEARS
TREASURER
- Total calculated
- $37,500
- From this org
- $37,500
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10 + 30 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
- 7 · Other non-fixed payments
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE ORGANIZATION'S RELATED ENTITY, NATIONAL HOUSING TRUST, HAS A COMPENSATION COMMITTEE AS PART OF ITS BOARD COMMITTEE STRUCTURE. THE COMPENSATION COMMITTEE HAS WORKED WITH A THIRD PARTY CONSULTANT WHO PROVIDED COMPARABILITY DATA WHICH WAS USED TO SET THE SALARY OF THE PRESIDENT.
- PART I, LINE 7
- BONUS COMPENSATION IS BASED ON SPECIFIED BUDGET BEING ACHIEVED.
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.
-
501(C)(3) · AFFD HOUSING · DC
-
NATIONAL HOUSING TRUST COMM DEV FUND
501(C)(3) · LENDING · DC
Directly controlled by NHT
-
501(C)(3) · AFFD HOUSING · DC
Directly controlled by NHT
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.
-
104TH STREET LIMITED PARTNERSHIP
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · IL
-
3145 MOUNT PLEASANT STREET LP
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DC
-
BELTON WOODS LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 200 UNITS · SC
-
BRIARCLIFF APARTMENTS LLC
LOW INCOME HOUSING · DC
-
BUCKINGHAM DEVELOPMENT
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DE
-
BUCKINGHAM PARCEL B DEVELOPMENT LLC
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · VA
-
BUCKINGHAM VILLAGE LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 92 UNITS · DE
-
BUCKINGHAM VILLAGE LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 92 UNITS · DE
-
BV3 PARCEL B GENERAL LLC
TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · VA
-
BV3 PARCEL B LP
TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · VA
-
CHANNEL SQUARE HOUSING HOLDING LLC
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DE
-
CHANNEL SQUARE PARTNERS LLC
TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DC
-
CUMBERLAND HOUSING PRESERVATION PARTNERS LP
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · MD
-
CUMBERLAND PRESERVATION PARTNERS LLC
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · MD
-
DAVENPORT MAHC LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · MN
-
DAVENPORT MAHC OWNER LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · MN
-
FAXON LLC
LOW INCOME HOUSING · DC
-
FREDERICKSBURG AFFORDABLE HOUSING LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 147 UNITS · VA
-
GALEN TERRACE LP
LOW INCOME HOUSING · DC
-
GREATVIEW DEVELOPMENT LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 188 UNITS · PA
-
HARVARD HOUSE LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 56 UNITS · FL
-
HESTON REALTY LLC
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · ME
-
HOMES FOR HAGERSTOWN GP LLC
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · MD
-
HOMES FOR HAGERSTOWN LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DE
-
HOUSING COMPANY
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 30 UNITS · VA
-
KING PRESERVATION LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 96 UNITS · IL
-
LAURELWOOD HOUSING ASSOCIATES LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · CT
-
LIBERTY PLACE APARTMENTS
LOW INCOME HOUSING · DC
-
MERIDIAN MANOR - CHAPIN STREET LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 34 UNITS · DC
-
MERIDIAN MANOR LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 34 UNITS · DC
-
MOUNT PLEASANT STREET PARTNERS LLC
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DC
-
MT HERMON VILLAGE LLC
LOW INCOME HOUSING · DC
-
NEW HERITAGE VILLAGE II LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
-
NEW SAVANNAH PRESERVATION MANAGER LLC
LOW INCOME HOUSING · DC
-
NEW SAVANNAH PRESERVATION PARTNERS LLC
LOW INCOME HOUSING · DC
-
NHTE BALTIMORE AFFORDABLE HOUSING LLC
PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DC
-
NHTE PIEDMONT GARRETT SQUARE LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 150 UNITS · VA
-
NHTE ST DENNIS LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 32 UNITS · DC
-
PHOENIX NIMBUS LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · GA
-
POINT OF VIEW LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 188 UNITS · ME
-
POPPLETON PARTNERS II LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 96 UNITS · MD
-
R STREET PRESERVATION PARTNERS LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 130 UNITS · DC
-
R STREET PRESERVATION PARTNERS LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 130 UNITS · DC
-
REFINERY APARTMENTS LLC
LOW INCOME HOUSING · DC
-
REFINERY MANAGING MEMBER LLC
LOW INCOME HOUSING · DC
-
RIVERVIEW HOUSING ASSOCIATES LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · ME
-
TEQUESTA KNOLL LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 100 UNITS · FL
-
THE NEW VILLAGES OF CASTLEBERRY HILL LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
-
VILLAGES OF CASTLEBERRY VILLAGES OF CASTLEBERRY
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
-
FIVE FORTY NEW PARK LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · CT
-
NORTHEAST HEIGHTS RESIDENTIAL PARTNERS LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
-
NORTHEAST HEIGHTS RESIDENTIAL MANAGER LLC
LOW-INCOME HOUSING · DC
-
NEW CONGRESS HEIGHTS PARTNERS LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
-
NEW CONGRESS HEIGHTS MANAGER LLC
LOW-INCOME HOUSING · DC
-
FC PHASE I LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · VA
-
MHV PRESERVATION PARTNERS LP
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
-
VER PRESERVATION PARTNERS LLC
ACQUIRE, DEVELOP, OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
BELTON WOODS HOUSING COMPANY
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 200 UNITS · SC
-
CHANNEL RENEWABLE MANAGER LLC
C · TO EARN FEES FROM ENERGY SERVICE AGREEMENTS · DC
-
CHANNEL SQUARE TRUST LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 200 UNITS · DC
-
CINCINNATI NHTE HOUSING GP LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING · DC
-
FAXON MANAGER LLC
C · LOW INCOME HOUSING · DC
-
GALEN TERRACE PARTNERS LLC
C · LOW INCOME HOUSING · DC
-
JAYCEE TRUST LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 188 UNITS · DC
-
KING PRESERVATION OF ILLINOIS LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 96 UNITS · IL
-
LAURELWOOD PLACE TRUST LLC
C · TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DC
-
LIBERTY PLACE MANAGING MEMBER LLC
C · LOW INCOME HOUSING · DC
-
MASS PLACE MANAGING MEMBER
C · LOW INCOME HOUSING · DC
-
NHTE BUCKINGHAM LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 92 UNITS · DC
-
NHTE BV3 PARCEL B LLC
C · TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DC
-
NHTE FREDERICKSBURG AFFORDABLE
C · TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · VA
-
NHTE KENYON STREET PRESERVATION LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 32 UNITS · DC
-
NHTE PIEDMONT GARRETT SQUARE LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 150 UNITS · VA
-
NHTE R STREET LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 130 UNITS · DC
-
NHTE SOLAR MANAGER LLC
C · TO EARN FEES FROM ENERGY SERVICE AGREEMENTS · DC
-
NHTE WILLIAM BOOTH TOWER GP LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 130 UNITS · DC
-
PHOENIX NIMBUS GP LLC
C · PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMALIES · DC
-
SCRANTON AFFORDABLE HOUSING TRUST LLC
C · ACQUIRE, DEVELOP,OWN & OPERATE LOW-INCOME RESIDENTIAL HOUSING - 188 UNITS · PA
-
WARD 1 HOUSING LLC
C · TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES · DC
-
FIVE FORTY NEW PARK MANAGER LLC
C · LOW-INCOME HOUSING · CT
-
FC PHASE I MANAGING MEMBER LLC
C · LOW-INCOME HOUSING · VA
-
MHV PRESERVATION GP LLC
C · LOW-INCOME HOUSING · VA
-
VER PRESERVATION MANAGER LLC
C · LOW-INCOME HOUSING · DC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349330270
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