Civic Intelligence

Arizona Housing Development Corp

EIN 86-0927092 • 501(c)3 • Yuma, AZ

Profile

Arizona housing development corporation is a not-for-profit organization committed to promoting the general social welfare of the community through the development, renovation and/or provision of affordable, decent, safe, sanitary housing; organizational and property management services; consulting; training; resident services and community initiative programs that aid in fostering an improved quality of life.

420 South Madison AvenueYuma, AZ 85364
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

71st percentile

0.35x

Higher debt load relative to assets than 71% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

92nd percentile

2.23x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

77th percentile

24%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

94th percentile

67%

Faster asset growth than 94% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

80th percentile

39%

Faster revenue growth than 80% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Assets

Up

$3,008,709

Up $292,011 (+11%) from 2023

Liabilities

Up

$108,727

Up $92,563 (+573%) from 2023

Net Assets

Up

$2,899,982

Up $199,448 (+7.4%) from 2023

Revenue

Down

$570,334

Down $590,398 (-51%) from 2023

Expenses

Up

$428,251

Up $82,905 (+24%) from 2023

Net Income

Down

$142,083

Down $673,303 (-83%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $933,714Liabilities 2011: $3,511,350Net Assets 2011: -$2,577,6362011Assets 2012: $943,291Liabilities 2012: $3,477,062Net Assets 2012: -$2,533,7712012Assets 2013: $833,524Liabilities 2013: $3,353,327Net Assets 2013: -$2,519,8032013Assets 2014: $775,588Liabilities 2014: $2,061,347Net Assets 2014: -$1,285,7592014Assets 2015: $794,995Liabilities 2015: $2,022,700Net Assets 2015: -$1,227,7052015Assets 2016: $798,934Liabilities 2016: $2,019,924Net Assets 2016: -$1,220,9902016Assets 2017: $816,402Liabilities 2017: $1,303,951Net Assets 2017: -$487,5492017Assets 2018: $886,151Liabilities 2018: $1,005,087Net Assets 2018: -$118,9362018Assets 2019: $902,725Liabilities 2019: $1,106,962Net Assets 2019: -$204,2372019Assets 2020: $1,615,466Liabilities 2020: $990,139Net Assets 2020: $625,3272020Assets 2021: $1,991,610Liabilities 2021: $901,202Net Assets 2021: $1,090,4082021Assets 2022: $2,748,799Liabilities 2022: $863,651Net Assets 2022: $1,885,1482022Assets 2023: $2,716,698Liabilities 2023: $16,164Net Assets 2023: $2,700,5342023Assets 2024: $3,008,709Liabilities 2024: $108,727Net Assets 2024: $2,899,9822024

Highlighted filing

2024

Assets$3,008,709
Liabilities$108,727
Net Assets$2,899,982

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $57,0822011Expenses 2012: $40,5142012Expenses 2013: $49,6792013Revenue 2014: $1,292,612Expenses 2014: $58,568Net Income 2014: $1,234,0442014Revenue 2015: $107,312Expenses 2015: $49,258Net Income 2015: $58,0542015Revenue 2016: $101,143Expenses 2016: $94,428Net Income 2016: $6,7152016Revenue 2017: $866,107Expenses 2017: $132,666Net Income 2017: $733,4412017Revenue 2018: $569,333Expenses 2018: $200,720Net Income 2018: $368,6132018Revenue 2019: $132,925Expenses 2019: $218,226Net Income 2019: -$85,3012019Revenue 2020: $1,213,477Expenses 2020: $383,913Net Income 2020: $829,5642020Revenue 2021: $639,984Expenses 2021: $174,903Net Income 2021: $465,0812021Revenue 2022: $1,098,407Expenses 2022: $303,667Net Income 2022: $794,7402022Revenue 2023: $1,160,732Expenses 2023: $345,346Net Income 2023: $815,3862023Revenue 2024: $570,334Expenses 2024: $428,251Net Income 2024: $142,0832024

Highlighted filing

2024

Revenue$570,334
Expenses$428,251
Net Income$142,083

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.01$0.11$2.90$0.57$0.43$0.14
2023Detailed filing. Detailed filing data is available for this year.$2.72$0.02$2.70$1.16$0.35$0.82
2022Detailed filing. Detailed filing data is available for this year.$2.75$0.86$1.89$1.10$0.30$0.79
2021Detailed filing. Detailed filing data is available for this year.$1.99$0.90$1.09$0.64$0.17$0.47
2020Detailed filing. Detailed filing data is available for this year.$1.62$0.99$0.63$1.21$0.38$0.83
2019Detailed filing. Detailed filing data is available for this year.$0.90$1.11$0.20$0.13$0.22$0.09
2018Detailed filing. Detailed filing data is available for this year.$0.89$1.01$0.12$0.57$0.20$0.37
2017Detailed filing. Detailed filing data is available for this year.$0.82$1.30$0.49$0.87$0.13$0.73
2016Detailed filing. Detailed filing data is available for this year.$0.80$2.02$1.22$0.10$0.09$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.79$2.02$1.23$0.11$0.05$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.78$2.06$1.29$1.29$0.06$1.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.83$3.35$2.52$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$3.48$2.53$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$3.51$2.58$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 23, 2025
Return Version
2023v6.0
Gross Receipts
$570,334
Mission and Program Overview

Mission

Arizona housing development corporation is a not-for-profit organization committed to promoting the general social welfare of the community through the development, renovation and/or provision of affordable, decent, safe, sanitary housing; organizational and property management services; consulting; training; resident services and community initiative programs that aid in fostering an improved quality of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,834,123$1,791,668▼ $42,455
Investments Program Related$528,283$495,963▼ $32,320
Cash and Non-Interest-Bearing Accounts$345,887--
Savings and Temporary Cash Investments-$283,769-
Accounts Receivable$8,405$2,202▼ $6,203
Total Assets$2,716,698$3,008,709▲ $292,011
Other Assets Total-$435,107-
Liabilities
Accounts Payable and Accrued Expenses$3,674$98,591▲ $94,917
Other Liabilities$10,784$9,584▼ $1,200
Deferred Revenue$1,706$552▼ $1,154
Total Liabilities$16,164$108,727▲ $92,563
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,700,534$2,899,982▲ $199,448
Total Net Assets Fund Balance$2,700,534$2,899,982▲ $199,448
Total Liabilities and Net Assets / Fund Balance$2,716,698$3,008,709▲ $292,011

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,323,505$166,738$1,490,243
Land$468,163-$468,163
Investment Program Related Org$495,963--
Other Assets Org$435,107--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Michael MorrisseyManaging Age$388,665$388,665

Board Members and Trustees

NameTitle
Fernando QuirozPresident
Deb DrysdaleBoard Member
Rachael LopezBoard Member
Michael MorrisseyManaging Agent
Ron ContrerasSecretary
Yuliana AvilesTreasurer
Russell TyndallVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$417,896
Program Service Revenue
$152,438
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$142,083

Audited Revenue Reconciliation

Revenue per Audited Statements
$570,334
Total Revenue per Audited Statements
$570,334
Total Revenue per Form 990
$570,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$428,251
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$146,882--$146,882
Office Expenses$74,786--$74,786
Fees for Services Legal$42,800--$42,800
Depreciation Depletion$42,456--$42,456
Occupancy$34,511--$34,511
Insurance$13,376--$13,376
Other Expenses$5,917--$5,917
All Other Expenses$3,486--$3,486
Fees for Services Accounting$900--$900
Total Functional Expenses$428,251$0$0$428,251

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$428,251
Total Expenses per Audited Statements$428,251
Total Expenses per Form 990$428,251
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
Security Deposits$9,584
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A copy of the return is provided to the board prior to filing and the finance manager reviews and approves the return.

Form 990, Page 6, Part VI, Line 12C

Organization is covered under the conflict of interest policy for the housing authority of the city of yuma. As policy violations are uncovered and come to the attention of managmenent, it can lead to termination if it is warranted.

Form 990, Page 6, Part VI, Line 15A

Organization does not have any process of determining compensation. If necessary, it will follow the housing authority city of yuma's compensation policy through a salary comparable study performed by nelrod.

Form 990, Page 6, Part VI, Line 15B

Organization has no set employees and wagers would be considered by housing authority city of yuma with organization giving reimbursement to housing authority city of yuma. Review done periodically.

Form 990, Page 6, Part VI, Line 19

Documents are provided upon request.

Filing and Contact Details

Filer

Filer Name
Arizona Housing Development Corp
EIN
86-0927092
Phone
9287823823
Address
420 SOUTH MADISON AVENUE, YUMA, AZ 85364

Signing Officer

Name
Michael Morrissey
Title
Managing Agent
Phone
9287823823
Signed
2025-04-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Morrissey
Formed
1998
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Rector Reeder & Lofton Pc
Address
623 TOM BREWER ROAD, LOGANVILLE, GA 30052-4042
Preparer
Michael K Ozment CPA
Phone
7708798411
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Arizona housing development corporation is a not-for-profit organization committed to promoting the general social welfare of the community through the development, renovation and/or provision of affordable, decent, safe, sanitary housing; organizational and property management services; consulting; training; resident services and community initiative programs that aid in fostering an improved quality of life.

Form 990, Part XI, Line 9

Change in joint venture 117,680 mesa heights surplus cash 63,685 disbursement to notes payable -124,000 total 57,365 increase in joint venture account is related to holdings in carver park townhomes llc ein 86-1033531. Surplus cash received from mesa heights is related to ahdc holdings llc which is reflected as a related party disbursement of 124,000 of notes payable for which there was previously a 100% allowance against. This is a mortgage note with the housing authority of yuma which is listed as a related party

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ARIZONA HOUSING DEVELOPMENT CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION COMMITTED TO PROMOTING THE GENERAL SOCIAL WELFARE OF THE COMMUNITY THROUGH THE DEVELOPMENT, RENOVATION AND/OR PROVISION OF AFFORDABLE, DECENT, SAFE, SANITARY HOUSING; ORGANIZATIONAL AND PROPERTY MANAGEMENT SERVICES; CONSULTING; TRAINING; RESIDENT SERVICES AND COMMUNITY INITIATIVE PROGRAMS THAT AID IN FOSTERING AN IMPROVED QUALITY OF LIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE RETURN IS PROVIDED TO THE BOARD PRIOR TO FILING AND THE FINANCE MANAGER REVIEWS AND APPROVES THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION IS COVERED UNDER THE CONFLICT OF INTEREST POLICY FOR THE HOUSING AUTHORITY OF THE CITY OF YUMA. AS POLICY VIOLATIONS ARE UNCOVERED AND COME TO THE ATTENTION OF MANAGMENENT, IT CAN LEAD TO TERMINATION IF IT IS WARRANTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ORGANIZATION DOES NOT HAVE ANY PROCESS OF DETERMINING COMPENSATION. IF NECESSARY, IT WILL FOLLOW THE HOUSING AUTHORITY CITY OF YUMA'S COMPENSATION POLICY THROUGH A SALARY COMPARABLE STUDY PERFORMED BY NELROD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ORGANIZATION HAS NO SET EMPLOYEES AND WAGERS WOULD BE CONSIDERED BY HOUSING AUTHORITY CITY OF YUMA WITH ORGANIZATION GIVING REIMBURSEMENT TO HOUSING AUTHORITY CITY OF YUMA. REVIEW DONE PERIODICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGE IN JOINT VENTURE 117,680 MESA HEIGHTS SURPLUS CASH 63,685 DISBURSEMENT TO NOTES PAYABLE -124,000 TOTAL 57,365 INCREASE IN JOINT VENTURE ACCOUNT IS RELATED TO HOLDINGS IN CARVER PARK TOWNHOMES LLC EIN 86-1033531. SURPLUS CASH RECEIVED FROM MESA HEIGHTS IS RELATED TO AHDC HOLDINGS LLC WHICH IS REFLECTED AS A RELATED PARTY DISBURSEMENT OF 124,000 OF NOTES PAYABLE FOR WHICH THERE WAS PREVIOUSLY A 100% ALLOWANCE AGAINST. THIS IS A MORTGAGE NOTE WITH THE HOUSING AUTHORITY OF YUMA WHICH IS LISTED AS A RELATED PARTY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0AHDC HOLDINGS 1 LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0420 S MADISON AVENUE
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0RELATED
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0CPN - AHDC DEVELOPMENT LLC
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