HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION

As filed

Subsection

03

NTEE code

P80

Classification

1000

Street

3315 HARRISBURG BLVD APT 400

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Other organizations at this address

2 other organizations in the IRS Business Master File list the same street address. matched by us

We match the street line and ZIP code as the IRS gives them, ignoring case and outer spaces and nothing else, so "AVE" and "AVENUE" count as different streets and this list can miss some. A shared address can mean related organizations or a shared office, but it can also be a registered agent, a mail drop or a service provider holding mail for unrelated clients. It is not, by itself, evidence that two organizations are connected.

• NEW HOPE HOUSING INC

  EIN 73-1419279

• NHH-CANAL STREET APARTMENTS INC

  EIN 04-3664461

Mission and programs · 2024

• See Schedule O

  Expenses $603,463

• See Schedule O

  Expenses $1,093,404 · Revenue $102,242

• See Schedule O

  Expenses $418,282 · Revenue $119,405

• HACDC, in concert with New Hope Housing, operates a continuous development cycle where we have 2 to 3 projects in varying stages of development at any given time. We operate to the standards of the for-profit multifamily industry, and our real estate development model is a testament to that work.NHH at Sakowitz - 166 unitsTo facilitate the development of NHH at Sakowitz, the City of Houston made a performance-based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Sakowitz SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, The Fondren Foundation and other foundations and corporations.Sakowitz is the first LEED certified affordable housing in the State of Texas, and it is also Houston's first 'green' multifamily housing development. The fact that Sakowitz is 'supportive' housing and that it has achieved platinum certification the highest level makes this recognition even more significant. Situated in Greater Fifth Ward/Denver Harbor, Sakowitz opened in October 2010.

• NHH at Perry - 160 units To facilitate the development of NHH at Perry, the City of Houston made a performance-based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Perry SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, JPMorgan Chase Foundation and other foundations and corporations.As a LEED platinum certified property, Perry is New Hope's second energy-efficient, 'green' property. The building opened in October 2012.Situated in Foster Place, one of Houston's historic neighborhoods, the Perry property is located south of the University of Houston off Griggs Road and Cullen Boulevard. Perry is New Hope's sixth SRO community.

• NHH at Rittenhouse - 160 units To facilitate the development of Rittenhouse, the City of Houston made a performance-based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Rittenhouse SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, The Meadows Foundation, and other foundation and corporate supporters. As a LEED platinum certified development, Rittenhouse is New Hope's third energy-efficient, 'green' property. Rittenhouse is New Hope's first property north of Loop 610 and is located off I-45 North at the corner of Stuebner Airline and Rittenhouse Road. Rittenhouse is New Hope's seventh SRO property. The building opened in December 2013, and reached stabilized occupancy in record time, which speaks strongly to the dire community need for this type of housing.

• NHH at Reed - 187 unitsWith the opening of Rittenhouse, New Hope celebrated reaching its near-term goal of developing and managing almost 1,000 units of SRO housing. There is a compelling need for Housing + Services for a number of vulnerable populations in Houston, and New Hope is now positioned to address a variety of supportive housing needs. The Board of Directors made a strategic decision to respond to this need, and to expand New Hope's reach to reduce the footprint of homelessness for Houston families, as well as continuing to serve individuals.New Hope has opened its first affordable, supportive housing for homeless and near homeless families. This innovative community, NHH at Reed, is a 187-unit apartment complex made up of 1-, 2-, and 3-bedroom units. It is located off Highway 288 and Reed Road. With the goal to uplift families from generational poverty, the organization provides robust onsite social services that focus on addressing food insecurities, education, health, and employment. Designed by GSMA, Inc. and constructed by Camden Builders, this development is LEED Gold certified. A grand opening ceremony took place in September 2018.The Reed development has received numerous accolades and media mentions since its opening. That includes being honored, together with its neighboring partner Star of Hope, with the 2020 ULI-Houston Development of Distinction award. The City of Houston committed $10.1MM in local Homeless Bond Program funds, which have been leveraged with other public/private investments.

• NHH at Harrisburg - 175 unitsNew Hope opened its first mixed-use development, NHH at Harrisburg. This transit-oriented community is a 175-unit SRO serving individuals living on extremely low incomes. The nonprofit organization celebrated a grand opening in April 2018. Located on the light rail in Houston's East End, Harrisburg also includes 4,000 SF of retail space and 7,500 SF of commercial office space, which is now home to New Hope's corporate office. Underscoring their commitment to mission, New Hope located their headquarters where their residents live. As the organization's fourth LEED platinum certified development, NHH at Harrisburg was designed by Ernesto L. Maldonado, AIA of GSMA, Inc.As evidence of its impact on the community, Harrisburg has already been honored with several awards and accolades, including: the 2019 Houston Business Journal Landmark Award in Community Impact; the Houston Apartment Association Landmark Award in Tax Credits; the National Association of Housing and Redevelopment Officials Award of Excellence; and, the U.S. Green Building Council Leadership Award. The City of Houston committed $6.6MM in HOME funds plus a portion of local Homeless Bond Program funds. To create a true public/private partnership, New Hope leveraged these funds with 4% Housing Tax Credits and Bonds, allocated by the Texas Department of Housing and Community Affairs, in addition to grants and contributions from private sources. Under the terms of an agreement for the sale of New Hope's original 129-unit Hamilton Street Residence, Hamilton closed when Harrisburg opened. Hamilton residents were given the opportunity to move to the new 175-unit Harrisburg property or to another New Hope property of their choice, based on availability and eligibility.

• NHH Dale Carnegie - 170 units New Hope celebrated the opening of its ninth SRO development, NHH Dale Carnegie, in October 2020. NHH Dale Carnegie was the first affordable housing development to break ground in Houston after Hurricane Harvey. The timing of its opening was fortuitous as people recover from COVID-19 and natural disasters. Located in the Sharpstown area of southwest Houston, this project is a 170-unit SRO serving individuals on extremely low incomes. Many of the residents are people who have experienced homelessness. Ernesto L. Maldonado, AIA of GSMA, Inc. designed this LEED Gold certified property.The City of Houston committed $8.5MM in HOME plus a portion of local Homeless Bond Program funds. To create a true public/private partnership, New Hope leveraged these funds with 9% Housing Tax Credits, allocated by the Texas Department of Housing, and Community Affairs, in addition to grants and contributions from private sources.

• NHH Avenue J - 100 unitsIn 2022, New Hope opened its second property for families. Located in Houston's vibrant, culturally-rich East End, NHH Avenue J offers 100 units of 1- and 2-bedroom apartments for working families and those on a fixed income. This multifamily property is our first designed for working families. It is in the historic Second Ward where naturally occurring affordable housing (NOAH) is dwindling, and development of high-end urban homes are becoming prolific. The location is one of Houston's five Complete Communities and a designated Concrete Revitalization Area. It will offer an affordable option in a rapidly gentrifying neighborhood with escalating rental rates.The City of Houston invested $12.4MM in Community Development Block Grant (CDBG) Disaster Relief funds, which were monies allocated to local municipalities by the U.S. Department of Housing and Community Development. Those funds were leveraged with 4% Housing Tax Credits and Bonds, allocated by the Texas Department of Housing and Community Affairs. Additional grants and contributions from private sources helped to close the funding gap.

As filed on the 2024 return. The first 10 program lines listed; the rest are in the source return and the API. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

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. Earlier years are each on their own filing page.

Filings

• 2024

  Revenue

  $13,401,048

  Expenses

  $14,459,903

  Contributions

  $0

  Grants paid

  $7,865,736

• 2023

  Revenue

  $4,459,262

  Expenses

  $6,929,542

  Contributions

  $0

  Grants paid

  $3,746,216

• 2022

  Revenue

  $14,223,563

  Expenses

  $2,964,277

  Contributions

  $9,865,116

  Grants paid

  $0

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $18,930,292

  Expenses

  $3,082,600

  Assets (EOY)

  $74,476,552

• 2020 · 990

  Revenue

  $5,447,680

  Expenses

  $1,043,346

  Assets (EOY)

  $54,774,028

• 2019 · 990

  Revenue

  $7,778,475

  Expenses

  $4,190,424

  Assets (EOY)

  $48,492,074

• 2018 · 990

  Revenue

  $11,237,589

  Expenses

  $4,746,550

  Assets (EOY)

  $44,867,327

• 2017 · 990

  Revenue

  $15,809,380

  Expenses

  $1,260,755

  Assets (EOY)

  $38,380,121

• 2016 · 990

  Revenue

  $1,727,140

  Expenses

  $754,131

  Assets (EOY)

  $24,133,171

• 2015 · 990

  Revenue

  $683,604

  Expenses

  $631,344

  Assets (EOY)

  $23,215,100

• 2014 · 990

  Revenue

  $335,384

  Expenses

  $584,507

  Assets (EOY)

  $23,055,994

• 2013 · 990

  Revenue

  $2,335,664

  Expenses

  $512,062

  Assets (EOY)

  $22,952,658

• 2011 · 990

  Revenue

  — not reported

  Expenses

  $512,924

  Assets (EOY)

  $18,112,084

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

• New Hope Housing Inc

  $7,865,736

  2024 · Project development

• New Hope Housing Inc

  $3,746,216

  2023 · Project development

Where these grants went next →

Grants received

• NEW HOPE HOUSING INC

  $555,119

  2022 · Project development

Related organizations

From Schedule R Part II, where a filer lists the tax-exempt organizations it is related to by control. It does not record shared board members or money.

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files