Civic Intelligence

Ndc Housing and Economic Development Corporation

990 • Fiscal year 2015 • EIN 11-2933129

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

Organization Profilen/a
ONE BATTERY PARK PLAZA No 710new york, NY 10004

(212) 682-1106

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

37th percentile

0.13x

Higher debt load relative to assets than 37% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

50th percentile

0.25x

Higher debt load relative to revenue than 50% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

73rd percentile

13%

Higher net margin than 73% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

93rd percentile

$686,515

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 9.8% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

20th percentile

-4.6%

Faster asset growth than 20% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

84th percentile

27%

Faster revenue growth than 84% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$13,877,566

Down $667,429 (-4.6%) from 2014

Net Assets

Up

$12,129,763

Up $947,067 (+8.5%) from 2014

Liabilities

Down

$1,747,803

Down $1,614,496 (-48%) from 2014

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin73rd percentile

Revenue

Up

$7,027,442

Up $1,511,475 (+27%) from 2014

Expenses

Up

$6,080,375

Up $324,783 (+5.6%) from 2014

Net Income

Up

$947,067

Up $1,186,692 (+495%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $17,939,744Liabilities 2011: $7,530,046Net Assets 2011: $10,409,6982011Assets 2012: $17,302,031Liabilities 2012: $6,061,903Net Assets 2012: $11,240,1282012Assets 2013: $16,700,302Liabilities 2013: $5,277,981Net Assets 2013: $11,422,3212013Assets 2014: $14,544,995Liabilities 2014: $3,362,299Net Assets 2014: $11,182,6962014Assets 2015: $13,877,566Liabilities 2015: $1,747,803Net Assets 2015: $12,129,7632015Assets 2016: $17,430,967Liabilities 2016: $4,315,166Net Assets 2016: $13,115,8012016Assets 2017: $16,481,191Liabilities 2017: $2,848,849Net Assets 2017: $13,632,3422017Assets 2018: $18,599,484Liabilities 2018: $4,475,590Net Assets 2018: $14,123,8942018Assets 2019: $18,912,207Liabilities 2019: $3,896,986Net Assets 2019: $15,015,2212019Assets 2020: $21,024,766Liabilities 2020: $6,168,431Net Assets 2020: $14,856,3352020Assets 2021: $24,571,760Liabilities 2021: $9,213,537Net Assets 2021: $15,358,2232021Assets 2022: $30,272,835Liabilities 2022: $13,466,760Net Assets 2022: $16,806,0752022Assets 2023: $34,085,608Liabilities 2023: $16,058,027Net Assets 2023: $18,027,5812023Assets 2024: $44,237,144Liabilities 2024: $25,701,113Net Assets 2024: $18,536,0312024

Highlighted filing

2015

Assets$13,877,566
Liabilities$1,747,803
Net Assets$12,129,763
Open 2015 Filing

Operations Trend

Revenue Growth84th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2011: $7,396,8482011Revenue 2012: $8,756,563Expenses 2012: $7,926,133Net Income 2012: $830,4302012Revenue 2013: $7,752,529Expenses 2013: $7,570,336Net Income 2013: $182,1932013Revenue 2014: $5,515,967Expenses 2014: $5,755,592Net Income 2014: -$239,6252014Revenue 2015: $7,027,442Expenses 2015: $6,080,375Net Income 2015: $947,0672015Revenue 2016: $10,690,359Expenses 2016: $9,704,321Net Income 2016: $986,0382016Revenue 2017: $9,241,637Expenses 2017: $8,725,096Net Income 2017: $516,5412017Revenue 2018: $8,968,108Expenses 2018: $8,476,467Net Income 2018: $491,6412018Revenue 2019: $10,713,943Expenses 2019: $9,822,616Net Income 2019: $891,3272019Revenue 2020: $10,793,357Expenses 2020: $10,433,704Net Income 2020: $359,6532020Revenue 2021: $10,401,743Expenses 2021: $9,899,953Net Income 2021: $501,7902021Revenue 2022: $13,208,840Expenses 2022: $11,761,090Net Income 2022: $1,447,7502022Revenue 2023: $12,386,503Expenses 2023: $11,165,097Net Income 2023: $1,221,4062023Revenue 2024: $13,287,489Expenses 2024: $12,779,039Net Income 2024: $508,4502024

Highlighted filing

2015

Revenue$7,027,442
Expenses$6,080,375
Net Income$947,067
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$7,027,442
Mission and Program Overview

Mission

Ndc housing and economic development corporation was organized for the following charitable purposes: to construct new and support existing safe and adequate low-income housing for disadvantaged persons; thereby assisting generally in the alleviation of housing shortages throughout the united states; to stimulate economic development in economically distressed areas of the country; and to assist in the erection and maintenance of public buildings, monuments or facilities to lessen the burdens of government, and to promote social welfare.

Ndc housing and economic development corporation's mission is to create quality affordable housing for the disadvantaged, to stimulate economic development and create jobs in low income areas and to erect public buildings to lessen the burdens of government and promote social welfare.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$56,317$5,160,107▲ $5,103,790
Accounts Receivable$5,264,944$3,208,880▼ $2,056,064
Other Notes and Loans Receivable, Net$177,044$274,712▲ $97,668
Savings and Temporary Cash Investments$2,476,554$48,917▼ $2,427,637
Prepaid Expenses and Deferred Charges$10,000$10,000→ $0
Total Assets$14,544,995$13,877,566▼ $667,429
Other Assets Total$6,560,136$5,174,950▼ $1,385,186
Liabilities
Other Liabilities$3,344,047$1,706,615▼ $1,637,432
Accounts Payable and Accrued Expenses$10,272$27,477▲ $17,205
Deferred Revenue$7,980$13,711▲ $5,731
Total Liabilities$3,362,299$1,747,803▼ $1,614,496
Net Assets / Fund Balance
Unrestricted Net Assets$11,182,696$12,129,763▲ $947,067
Total Net Assets Fund Balance$11,182,696$12,129,763▲ $947,067
Total Liabilities and Net Assets / Fund Balance$14,544,995$13,877,566▼ $667,429

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$5,174,950--
Compensation and Service Providers
Top Officer Pay93rd percentile

Board Members and Trustees

NameTitle
Robert W DavenportChairman/board member
Angela Butlerboard member
David J Trevisaniboard member
Gertrude Scrivenboard member
Ingrid Nardoniboard member
John Palyoboard member
Kevin Gremseboard member
Patricia Thomsonboard member
Stephanie Duganboard member
Thomas Jacksonboard member
Adam Ennisboard Member/CFO
John LinnerOutgoing Board Member
John A Finkeoutgoing VP/board member
Daniel Marsh IIIPres/board member
Ann VogtSec/Tres/board Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Shallo Galluscio and Bianchi CPAs PCaccounting services21 north seventh st, hudson, NY 12534$138,278
Revenue and Support

Revenue Composition

Contributions and Grants
$3,381,174
Program Service Revenue
$3,278,752
Investment Income
$37,250
Other Revenue
$330,266
All Other Contributions
$5,000
Change in Net Assets
$947,067

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,027,442
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$7,027,442
Total Revenue per Form 990
$7,027,442
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,890,679
Other Expenses$1,317,832
Grants and Similar Amounts Paid$871,864
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,908,408$439,754-$2,348,162
Grants to Domestic Orgs$871,864--$871,864
Pension Plan Contributions$692,085$136,355-$828,440
Other Employee Benefits$470,449$92,689-$563,138
Travel$331,215$69,761-$400,976
Fees for Services Accounting-$203,278-$203,278
Occupancy$168,814$30,910-$199,724
Office Expenses$136,994$29,711-$166,705
Payroll Taxes$121,505$29,434-$150,939
Fees for Services Other$7,688$76,585-$84,273
Fees for Services Legal-$62,955-$62,955
Other Expenses$12,064$2,209-$14,273
Total Functional Expenses$4,771,930$1,308,445$0$6,080,375

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,080,375
Total Expenses per Audited Statements$6,080,375
Total Expenses per Form 990$6,080,375
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
National Council for Community Developmentnew york, NY501(c)(3)Support general operations$750,000
CDP Newburgh Incnew york, NY501(c)(3)Support general operations$88,729
CDP Wilson Incnew york, NY501(c)(3)Support general operations$25,000
Greater Salt Lake Development Corporationnew york, NY501(c)(3)Support general operations$5,875
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
payable to the national development council$1,587,355
advances payable$119,260
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

“ANN VOGT, Sec/Tres/board Member, & INGRID NARDONI, BOARD MEMBER, HAVE A FAMILY RELATIONSHIP.”

Form 990, Part VI, Section A, line 6

“National council for community development IS THE SOLE VOTING MEMBER OF NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION.”

Form 990, Part VI, Section A, line 7A

“National council for community development as THE SOLE VOTING MEMBER OF NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION has the POWER TO ELECT AND REMOVE DIRECTORS.”

Form 990, Part VI, Section B, line 11

“The form 990 was prepared by outside tax preparers in consultation with management and auditors. A draft of the full form 990 was provided to the entire board for review. A complete copy of the final form 990 was provided to the organization's entire board before it was filed with the irs.”

Form 990, Part VI, Section B, line 12C

“ALL MEMBERS OF THE HEDC BOARD OF DIRECTORS AND EXECUTIVE EMPLOYEES ARE REQUIRED TO ANNUALLY EXECUTE A CONFLICT OF INTEREST AND COMPENSATION GUIDELINES ACKNOWLEDGEMENT STATING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES. THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES DOCUMENT REQUIREs BOARD MEMBERS AND EXECUTIVE EMPLOYEES TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST IMMEDIATELY. THE CHAIRPERSON OF THE BOARD WILL UPON NOTIFICATION OF SUCH AN EVENT APPOINTS A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION VIOLATIONS OF THE CONFLICT OF INTEREST POLICY CAN RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALSO, ALL BOARD MEMBERS BY EXECUTING THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES DOCUMENT ACKNOWLEDGES THAT THEY SHARE THE RESPONSIBILITY OF HEDC TO REMAIN FAITHFUL TO THE ORGANIZATION'S CHARITABLE PURPOSES.”

Form 990, Part VI, Section C, line 19

“the documents are available by request.”

Part VI, 1B:

“ALL OF THE ORGANIZATION'S BOARD MEMBERS WORK FOR THE PARENT ORGANIZATION NATIONAL COUNCIL FOR COMMUNITY DEVELOPMENT. WHILE NONE ARE INDEPENDENT THE INDEPENDENT BOARD OF DIRECTORS OF THE PARENT OVERSEES THE ORGANiZATION'S OPERATIONS AND ACTIONS.”

Filing and Contact Details

Filer

Filer Name
Ndc Housing & Economic Development
EIN
11-2933129
Phone
2126821106
Address
ONE BATTERY PARK PLAZA No 710, new york, NY 10004

Signing Officer

Name
robert w davenport
Title
chairman/board member
Phone
2126821106
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
robert w davenport
Formed
1988
Legal Domicile
Va
Voting Board Members
13
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
1301 Avenue of the Americas, New York, NY 10019
Preparer
Thomas Lanning
Phone
2122970400
Supplemental Narrative

Additional Explanations

form 990, part XII, line 2C

“the process has not changes from the prior year”

form 990, Part IX, Lines 7-10:

“The amounts reported on lines 7-9 related to expenses paid by the parent company (national council for community development ein 13-6532871) and allocated to the organization.”

Financial Statement Notes

Part X, Line 2:

“The Organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. There are no uncertain tax positions identified or recorded as liabilities for the year ended December 31, 2015. At December 31, 2015, the Organization's Form 990 for the years ended 2013 through 2015 remain open for examination by the IRS.”

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IRS990/Desc0TO CONSTRUCT NEW LOW INCOME HOUSING AND TO DEVELOP, MANAGE, OPERATE, PROMOTE, FUND, AND SUPPORT EXISTING LOW INCOME HOUSING FOR PERSONS OF LIMITED FINANCIAL MEANS, HANDICAPPED PERSONS, ELDERLY PERSONS, AND OTHER PERSONS IN NEED OF SAFE ADEQUATE AFFORDABLE HOUSING AND TO ASSIST GENERALLY IN THE ALLEVIATION OF HOUSING SHORTAGES THROUGHOUT THE US. LOW INCOME HOUSING: HEDC IS A NATIONAL LEADER IN LOW INCOME HOUSING THROUGH BOTH DEVELOPMENT AND INVESTMENT. WORKING IN PARTNERSHIP WITH NONPROFIT ORGANIZATIONS AND SERVICE PROVIDERS AROUND THE NATION, HEDC HAS DEVELOPED, FINANCED, OPERATED, AND/OR MANAGED A TOTAL OF 9,000 UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE LOW INCOME HOUSING TOTALING $1.5 BILLION OF INVESTMENT IN LOW INCOME COMMUNITIES IN 30 STATES ACROSS THE NATION.IN 2015 THROUGH OUR LOW INCOME HOUSING DEVELOPMENT AND INVESTMENT ACTIVITIES, HEDC CONSTRUCTED OR RENOVATED 241 UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE HOUSING FOR LOW INCOME PERSONS AND FAMILIES, THE ELDERLY, AND PEOPLE WITH SPECIAL NEEDS. INVESTMENT AND DEVELOPMENT ACTIVITIES TOTALED $20 MILLION. THE FOLLOWING IS A SAMPLING OF HEDC AFFORDABLE HOUSING PROJECTS COMPLETED IN 2015:AUGUSTA, ME - CONY FLATIRON SENIOR RESIDENCE THE CONY FLATIRON BUILDING A THREE-STORY BUILDING HAD SERVED AS A SCHOOL UNTIL 2006. IN 2014, HEDC WORKING WITH HOUSING INITIATIVES OF NEW ENGLAND A LOCAL NON-PROFIT, CONFIRMED THE STRONG NEED FOR ADDITIONAL SENIOR HOUSING IN AUGUSTA. UTILIZING MAINE STATE HOUSING AUTHORITY TAX CREDITS AND SEVERAL GRANTS THE SCHOOL WAS RENOVATED INTO 48 UNITS OF QUALITY AFFORDABLE SENIOR HOUSING. ALL UNITS ARE BEING PROVIDED TO SENIORS WHOSE INCOME IS BELOW 60% OF AMI. OF THE 48 UNITS IN THE PROJECT FORTY-ONE ARE 1-BR'S. OF THESE, 25 WILL BE SET ASIDE FOR RESIDENTS AT 50% OF AMI OR BELOW. THE OTHER 16 WILL BE AT 60% OF AMI. SEVEN OF THE UNITS WILL BE 2-BR'S. FOUR OF THESE WILL BE AT 50% AMI AND THE OTHER THREE AT 60%.NORTHHAMPTON, MA- NORTHHAMPTON HEIGHTS ALFNORTHHAMPTON HEIGHTS ALF IS PROVIDING 43-UNITS OF AFFORDABLE ASSISTED LIVING IN NORTHAMPTON, MA. HEDC ALONG WITH THE MASSACHUSETTS DEVELOPMENT FINANCE AUTHORITY PROVIDED THE FINANCING TO DEVELOP THIS PROJECT. 17 UNITS ARE SET ASIDE FOR RESIDENTS WITH INCOMES BELOW 30% OF AMI AND 26 FOR RESIDENTS WITH INCOMES BELOW 60% OF AMI. "ASSISTED LIVING" IS INTENDED FOR SENIORS WHO NEED SOME ASSISTANCE IN THE ACTIVITIES OF DAILY LIFE BUT DO NOT NEED TO BE IN A HEALTH CARE FACILITY. IT PROVIDES SENIORS WITH THE AN OPTION BETWEENliving in an INDEPENDENT LIVING PROJECT AND A NURSING HOME. THE SITE LOCATED IN THE VILLAGE HILL REDEVELOPMENT AREA, FORMERLY HOUSED A STATE HOSPITAL. FREELAND, WA - SUNNY VIEW VILLAGE APARTMENTSCOMPLETED IN 2015 SUNNY VIEW VILLAGE APARTMENTS IS PROVIDING ONE, TWO AND THREE BEDROOM APARTMENTS TO THIS COMMUNITY WHERE SINCE 1993 THERE HAS BEEN LITTLE INVESTMENT IN MULTI-FAMILY HOUSING. DURING A 2013 POINT IN TIME SURVEY, ISLAND COUNTY HAD 126 HOMELESS INDIVIDUALS AND FAMILIES, AND ANOTHER 285 WHO WERE LIVING WITH FAMILY OR FRIENDS. SUNNY VIEW HAS ADDED 19 UNITS AT 50%AMI AND 6 UNITS AT 60% AMI. SUNNY VIEW HAS SET ASIDE 7 OF ITS 25 UNITS FOR HOMELESS/VERY LOW INCOME FAMILIES. THESE 7 UNITS HAVE PROJECT BASED SECTION 8 RENTAL SUBSIDIES. VIA A MEMORANDUM OF UNDERSTANDING WITH THE HOUSING AUTHORITY OF ISLAND COUNTY (THE PROJECT'S SPONSOR), THE NON-PROFIT OPPORTUNITY COUNCIL PROVIDES REFERRALS, CASE MANAGEMENT AND OTHER SERVICES AT NO COST TO THE PROJECT. THESE SERVICES WILL CONTINUE UNTIL RESIDENTS EITHER NO LONGER NEED THEM OR THEY TRANSITION TO THE HOUSING AUTHORITY'S FAMILY SELF-SUFFICIENCY PROGRAM.
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IRS990/MissionDesc0NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION WAS ORGANIZED FOR THE FOLLOWING CHARITABLE PURPOSES: TO CONSTRUCT NEW AND SUPPORT EXISTING SAFE AND ADEQUATE LOW-INCOME HOUSING FOR DISADVANTAGED PERSONS; THEREBY ASSISTING GENERALLY IN THE ALLEVIATION OF HOUSING SHORTAGES THROUGHOUT THE UNITED STATES; TO STIMULATE ECONOMIC DEVELOPMENT IN ECONOMICALLY DISTRESSED AREAS OF THE COUNTRY; AND TO ASSIST IN THE ERECTION AND MAINTENANCE OF PUBLIC BUILDINGS, MONUMENTS OR FACILITIES TO LESSEN THE BURDENS OF GOVERNMENT, AND TO PROMOTE SOCIAL WELFARE.
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IRS990/ProgSrvcAccomActy2Grp/Desc0TO ASSIST IN THE ERECTION AND MAINTENANCE OF PUBLIC BUILDINGS, MONUMENTS, FACILITIES, OR WORKS TO LESSEN THE BURDEN OF GOVERNMENT AND TO PROMOTE SOCIAL WELFARE LESSENING THE BURDENS OF GOVERNMENT: HEDC ALSO PARTNERS WITH UNITS OF LOCAL GOVERNMENT TO ERECT AND MAINTAIN PUBLIC BUILDINGS, MONUMENTS, FACILITIES, AND WORKS TO LESSEN THE BURDENS OF GOVERNMENT AND TO PROMOTE SOCIAL WELFARE. IN TOTAL, HEDC HAS DEVELOPED AND FINANCED MORE THAN THIRTY PROPERTIES COSTING MORE THAN $2 BILLION ON BEHALF OF LOCAL GOVERNMENT INCLUDING PUBLIC BUILDINGS AND CITY HALLS, EDUCATIONAL AND MEDICAL RESEARCH FACILITIES, STUDENT HOUSING, AND PUBLIC INFRASTRUCTURE.DURING 2015, HEDC UNDERTOOK THE FOLLOWING PROJECTS UNDER THE MISSION OF LESSENING THE BURDENS OF GOVERNMENT. WASHINGTON BIOMEDICAL RESEARCH PROPERTIES SEATTLE, WA IN 2004 UNIVERSITY OF WASHINGTON SCHOOL OF MEDICINE BEGAN RENOVATING THEIR EXISTING BROTMAN BUILDING INTO A STATE-OF-THE-ART BIOMEDICAL RESEARCH FACILITY. THE UNIVERSITY WAS CHALLENGED TO DELIVER THE PROJECT IN A TIMELY AND EFFICIENT MANNER AND ASKED HEDC TO ASSIST BY UNDERTAKING THE MULTI-PHASE PROJECT ON THEIR BEHALF. THE THIRD PHASE IN UW MEDICINE'S SOUTH LAKE UNION CAMPUS CONSISTS OF THREE PHASES. PHASE 3.1 BROKE GROUND IN SUMMER 2011 AND WAS COMPLETED IN 2013. IT INCLUDES THE CONSTRUCTION OF A 138,000 SQUARE-FOOT RESEARCH LABORATORY BUILDING DIRECTLY ACROSS THE STREET FROM THE FIRST AND SECOND PHASES OF THE SOUTH LAKE UNION CAMPUS. THE CURRENT PROPOSED PROJECT IS WASHINGTON BIOMEDICAL RESEARCH PROPERTIES 3.2 (WBRP 3.2). WBRP 3.2 WILL BE AN EIGHT-STORY, APPROXIMATELY 157,000 SF BIOMEDICAL FACILITY THAT WILL BE CONSTRUCTED OVER THE FOUNDATION AND PARKING FROM WBRF 3. TOTAL PROJECT COSTS ARE CURRENTLY ESTIMATED AT $143 MM. THE FINANCING FOR PHASE 3.2 CLOSED IN 2015 AND THE PROJECT BROKE GROUND. WHEN COMPLETED, PHASES I, II, AND III Will PROVIDE OVER 800,000 GSF OF RESEARCH AND OFFICE SPACE IN SUPPORT OF SCHOOL OF MEDICINE RESEARCH PROGRAMS.BOTHELL CITY HALL - BOTHELL, WATHE CITY OF BOTHELL WAS REQUIRED TO OFFER A CENTER OF BUSINESS TO ITS CITIZENRY. THE NEW LOCATION EVOLVED OUT OF A COMMUNITY-LED PUBLIC PLANNING PROCESS, WHICH PLACED THE NEW CITY HALL ACROSS FROM THE EXISTING POLICE FACILITIES AND MUNICIPAL COURT BUILDING, CREATING A LOCAL GOVERNMENT DISTRICT COMMON IN MANY MUNICIPALITIES ACROSS THE COUNTRY. THE NEW LOCATION ALSO PLACES CITY HALL ALONG THE COMMUNITY'S HISTORIC MAIN STREET. THE SITE IS ADJACENT TO THE FUTURE TRANSIT-FRIENDLY 185TH STREET CONNECTOR, WHICH CONNECTS DOWNTOWN TO THE REGION THROUGH MAJOR METRO, SOUND TRANSIT AND COMMUNITY TRANSIT ROUTES. BOTHELL CITY HALL IS A LEED GOLD STRUCTURE OF APPROXIMATELY 60,000 SQUARE FEET OF OFFICE AND 300 SPACES OF UNDERGROUND PARKING. BOTHELL SELECTED HEDC'S PUBLIC-PRIVATE PARTNERSHIP MODEL BECAUSE OF ITS ABILITY TO EXPEDITE DELIVERY, OFFER A TURN-KEY PRODUCT AND PROVIDE FOR A TRANSPARENT DEVELOPMENT PROCESS. THE PROJECT WAS COMPLETED IN NOVEMBER, 2015.INDIO CRIMINAL JUSTICE LAW BUILDING - RIVERSIDE, CATHE INDIO CRIMINAL JUSTICE LAW BUILDING IS LOCATED IN THE CITY OF INDIO, RIVERSIDE COUNTY, CA. THE PROJECT INVOLVED THE DEVELOPMENT OF A 90,000 SF CRIMINAL JUSTICE LAW BUILDING THAT HOUSES THE RIVERSIDE COUNTY DISTRICT ATTORNEY, PUBLIC DEFENDER, COUNTY COUNSEL, LAW LIBRARY AND OTHER RELATED USES. THE COUNTY SELECTED HEDC BECAUSE OF ITS ABILITY TO EXPEDITE DELIVERY TO ACCOMMODATE ITS SCHEDULED NEED TO RELOCATE STAFF FROM OFFICES LOCATED AT THE JAIL SITE. THE PROJECT HAS GREATLY BENEFITED THE COUNTY IN TWO WAYS. FIRST, THE PROJECT PROVIDED A COST-EFFECTIVE, TIMELY OPTION FOR RIVERSIDE COUNTY TO UPGRADE AND MODERNIZE ITS ADMINISTRATIVE OFFICES FOR ITS CRIMINAL JUSTICE ADMINISTRATIVE DIVISIONS. SECONDLY, THE RELOCATION OF THE CURRENT COUNTY JUSTICE ADMINISTRATIVE OFFICES CREATED A DEVELOPMENT OPPORTUNITY TO INCREASE AND IMPROVE CORRECTIONAL FACILITIES, WHICH WILL REDUCE THE INCIDENCE OF EARLY RELEASE ASSOCIATED WITH OVERCROWDING IN THE CA PENAL SYSTEM. THE PROJECT WAS COMPLETED IN
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IRS990/ProgSrvcAccomActy3Grp/Desc0TO INITIATE AND CARRY OUT ACTIVITIES TO STIMULATE ECONOMIC DEVELOPMENT IN THE ECONOMICALLY DEPRESSED AREAS OF THE US. IN PARTICULAR, TO UNDERTAKE ACTIVITIES THAT:- RELIEVE POVERTY AND LESSEN NEIGHBORHOOD TENSION CAUSED BY A LACK OF JOBS IN DETERIORATED AND DEPRESSED AREAS BY PROVIDING TRAINING OPPORTUNITIES FOR THE UNEMPLOYED AND CREATING JOB OPPORTUNITIES FOR DISADVANTAGED GROUPS.- COMBAT COMMUNITY DETERIORATION AND ELIMINATE BLIGHT BY UNDERTAKING ACTIVITIES THAT STIMULATE THE ESTABLISHMENT OF NEW BUSINESSES AMONG DISADVANTAGED GROUPS AND WHICH REHABILITATE AND REVIVE EXISTING BUSINESSES OPERATED BY DISADVANTAGED GROUPS.STIMULATE ECONOMIC DEVELOPMENT IN ECONOMICALLY DEPRESSED AREAS - HEDC WORKS WITH NONPROFIT ORGANIZATIONS AND SERVICE PROVIDERS AND UNITS OF LOCAL GOVERNMENT TO STIMULATE ECONOMIC DEVELOPMENT IN ECONOMICALLY DEPRESSED NEIGHBORHOODS ACROSS THE NATION. WORKING THROUGH THE NEW MARKETS TAX CREDIT PROGRAM AND WITH OTHER FINANCING, HEDC CREATES EMPLOYMENT AND ENTREPRENEURIAL OPPORTUNITIES FOR DISADVANTAGED GROUPS AND INDIVIDUALS, COMBATS COMMUNITY DETERIORATION, AND ELIMINATES SLUM AND BLIGHT THROUGH NEW INVESTMENT IN LOW INCOME COMMUNITIES TO REHABILITATE AND REVITALIZE NEIGHBORHOODS. UNDER THE NEW MARKETS TAX CREDIT (NMTC) PROGRAM, HEDC HAS SPONSORED 86 PROJECTS TOTALING OVER $1.7 BILLION OF NEW INVESTMENT, CREATED OVER 8,600 PERMANENT JOBS FOR DISADVANTAGED INDIVIDUALS, AND BROUGHT BADLY NEEDED GOODs AND SERVICES TO LOW INCOME COMMUNITIES. IN 2015, USING NEW MARKETS TAX CREDITS AND OTHER FINANCING, HEDC COMPLETED THE FOLLOWING PROJECTS TOTALING $15 MILLION OF INVESTMENT. ONCE BOTH OF THESE PROJECTS ARE COMPLETED THEY WILL CREATE 368 PERMANENT JOBS FOR DISADVANTAGED INDIVIDUALS, AND OFFER ENTREPRENEURIAL OPPORTUNITIES TO DISADVANTAGED INDIVIDUALS. HIGHLIGHTS OF HEDC PROJECTS THAT COMPLETED IN 2015 INCLUDED:RIVIERA BEACH EVENT CENTER - RIVIERA BEACH, FLTHE NEW CONSTRUCTION OF THE 22,000 SQUARE FOOT RIVIERA BEACH EVENT CENTER WAS THE INAUGURAL COMPONENT OF THE MARINA DISTRICT REDEVELOPMENT PLAN, WHICH HAS ENABLED SUBSEQUENT PRIVATE INVESTMENT AT THE RIVIERA BEACH MARINA AND SURROUNDING NEIGHBORHOOD. THE CENTER FEATURES 6,600 SQUARE FEET OF MEETING SPACE, A GRAND LOBBY INCORPORATING GALLERY SPACE FOR COMMUNITY EXHIBITS, A VISITOR CENTER, CAFe AND SUPPORT FUNCTIONS FOR THE BROADER MARINA DISTRICT INCLUDING STORAGE AND SERVICE SPACE FOR EVENTS IN BICENTENNIAL PARK. THE PROJECT IS LOCATED IN A COMMUNITY REDEVELOPMENT AREA (CRA) AND CDFI DEEPER DISTRESSED COMMUNITY WITH UNEMPLOYMENT RATE 2.3 TIMES THE NATIONAL AVERAGE. THE PROJECT CREATED 28 CONSTRUCTION JOBS AND 98 PERMANENT JOBS.ROSWELL PARK CANCER INSTITUTE - BUFFALO, NYROSWELL PARK CANCER INSTITUTE (RPCI), IS AMERICA'S FIRST CANCER CENTER FOUNDED IN 1898 BY DR. ROSWELL PARK. THE NON-PROFIT INSTITUTE HAS BEEN PROVIDING HOSPITAL CARE TO A MEDICALLY UNDERSERVED AREA IN BUFFALO, NY FOR OVER 100 YEARS. WITH THE ASSISTANCE OF THE NDC AND THE NMTC PROGRAM, RPCI CONSTRUCTED A 140,000 SQUARE FOOT CLINICAL SCIENCE CENTER (CSC) BUILDING ON ITS CAMPUS. THE 11-STORY CSC BUILDING CONNECTS THE MAIN HOSPITAL TO A NEW RESEARCH CENTER AND HAS EXPANDED THE INSTITUTE'S CANCER PREVENTION PROGRAM SPACE BY 100%. BENEFITS INCLUDE SPACE FOR ADMINISTRATIVE OFFICES PREVIOUSLY HELD IN THE MAIN HOSPITAL AND SPACE FOR UP TO 10,000 ADDITIONAL COMMUNITY MAMMOGRAM SCREENINGS TO BE PERFORMED EACH YEAR. THE INSTITUTE WORKED WITH SEVERAL AREA NONPROFIT AND GOVERNMENTAL ORGANIZATIONS TO RECRUIT LOW-INCOME EMPLOYEES TO FILL JOBS CREATED BY THE PROJECT.
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,877,566
Liabilities
$1,747,803
Net assets
$12,129,763
Revenue
$7,027,442
Expenses
$6,080,375
Net income
$947,067
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.2$25.7$18.5$13.3$12.8$0.51
2023Detailed filing. Detailed filing data is available for this year.$34.1$16.1$18.0$12.4$11.2$1.22
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.3$13.5$16.8$13.2$11.8$1.45
2021Detailed filing. Detailed filing data is available for this year.$24.6$9.21$15.4$10.4$9.90$0.50
2020Detailed filing. Detailed filing data is available for this year.$21.0$6.17$14.9$10.8$10.4$0.36
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.9$3.90$15.0$10.7$9.82$0.89
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.6$4.48$14.1$8.97$8.48$0.49
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.5$2.85$13.6$9.24$8.73$0.52
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.4$4.32$13.1$10.7$9.70$0.99
2015Detailed filing. Detailed filing data is available for this year.$13.9$1.75$12.1$7.03$6.08$0.95
2014Detailed filing. Detailed filing data is available for this year.$14.5$3.36$11.2$5.52$5.76$0.24
2013Detailed filing. Detailed filing data is available for this year.$16.7$5.28$11.4$7.75$7.57$0.18
2012Summary only. Only limited summary data is available for this year.$17.3$6.06$11.2$8.76$7.93$0.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.9$7.53$10.4$7.40
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $10M-$25M nonprofits