2024-01-15T10:10:08-06:00 2023-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-07-01 061276156 HOUSING DEVELOPMENT FUND INC HOUS 2039691830 100 PROSPECT STREET 100 STAMFORD CT 06901 KILEY GOSSELIN PRESIDENT AND CEO 2039691830 2024-01-15 1 KILEY GOSSELIN XXX-XX-XXXX 1 ANDREW R PURICELLI CPA P01633436 5083669100 2024-01-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KILEY GOSSELIN 100 PROSPECT STREET 100 STAMFORD CT 06901 3408284 0 X WWW.HDFCONNECTS.ORG X 1989 CT TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING, BOTH RENTAL AND HOMEOWNERSHIP, AND ASSIST HOUSEHOLDS TO BECOME OWNERS OF AFFORDABLE HOMES. 11 10 27 10 0 0 3121786 873626 2110723 2191169 90617 343489 -21456 -41364 5301670 3366920 0 0 0 0 2052655 2183822 0 0 263542 1108551 1143333 3161206 3327155 2140464 39765 52033074 50956580 23777809 22771361 28255265 28185219 X TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING, BOTH RENTAL AND HOMEOWNERSHIP, AND ASSIST HOUSEHOLDS TO BECOME OWNERS OF AFFORDABLE HOMES. 0 0 666732 HOMEBUYER ASSISTANCE UNDERWRITING - HDF PROVIDES ASSISTANCE IN LOANS FOR DOWN PAYMENTS AND LOW INTEREST SECOND MORTGAGES. 520434 HOMEBUYER ASSISTANCE COUNSELING - PROVIDE LOW INTEREST, FLEXIBLE FINANCING AND TECHNICAL ASSISTANCE TO DEVELOPERS BY PROVIDING HOMEBUYER ASSISTANCE FINANCING AND HOMEOWNERSHIP COUNSELING TO HOMEBUYERS. 875589 2191169 MULTI-FAMILY HOUSING - PROVIDE CONSTRUCTION AND PERMANENT LOANS AND RELATED ASSISTANCE TO PROVIDERS OF MULTI-FAMILY HOUSING TO ENABLE THEM TO EXPAND LOW AND MODERATE INCOME HOUSING OPPORTUNITIES FOR FAMILIES IN SOUTHWESTERN CT. 44818 PROPERTY MANAGEMENT - TO ATTRACT ALL POSSIBLE RENTERS WHO ARE THE LEAST LIKELY TO APPLY FOR AFFORDABLE HOUSING UNITS IN THE REGION. POSSIBLE RENTERS ARE SUBJECT TO CERTAIN STATE MEDIAN INCOME LIMITATIONS. 44818 2107573 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 1 8 0 1 27 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT NY X X KILEY GOSSELIN 2039691830 100 PROSPECT ST SUITE 100 STAMFORD CT 06901 JOAN CARTY PRESIDENT & CEO (UNTIL 5/2023) 39.00 1.00 X X 254100 0 25729 GINA DELANO INTERIM CFO (UNTIL 6/2023) 20.00 X 145343 0 5290 KILEY GOSSELIN PRESIDENT & CEO 39.00 1.00 X X 0 0 0 CLAY FOWLER CHAIR 3.00 1.00 X X 0 0 0 MICHAEL WEINSTOCK VICE CHAIR 3.00 X X 0 0 0 MICHAEL HUNTER TREASURER 3.00 X X 0 0 0 BERT HUNTER TREASURER (UNTIL 12/2022) 3.00 X X 0 0 0 ANNIE LAZARUS SECRETARY 3.00 X X 0 0 0 LISA SANDERS ASSISTANT TREASURER (UNTIL 1/2023) 2.00 X X 0 0 0 CHARLES HOWELL BOARD MEMBER 1.00 X 0 0 0 BARBARA KELLY BOARD MEMBER 1.00 X 0 0 0 WILLARD MILEY BOARD MEMBER 1.00 X 0 0 0 MARJAN MURRAY BOARD MEMBER 1.00 X 0 0 0 KATHLEEN ROMAGNANO BOARD MEMBER 1.00 X 0 0 0 MICHAEL CHAMBERS BOARD MEMBER 1.00 X 0 0 0 399443 0 31019 2 0 1 0 0 76650 549074 247902 873626 INTEREST INCOME - LOAN 531390 1073980 1073980 LOAN LOSS RECOVERY 531390 538791 538791 CONTRACTS AND FEES 531390 488973 488973 FEE FOR SERVICE REVENU 531390 51200 51200 RENTAL INCOME 532000 38225 38225 2191169 343489 343489 0 76650 41364 -41364 -41364 3366920 2191169 0 302125 573729 416278 104320 53131 1239433 722304 398678 118451 69367 29972 35864 3531 87618 28512 56167 2939 213675 96732 99338 17605 19561 19561 48400 48400 130479 44256 68072 18151 6910 429 82 6399 86055 59918 21248 4889 128132 56167 59243 12722 109761 81948 16187 11626 406717 406717 37070 27317 6852 2901 78770 55181 15775 7814 LENDING RELATED EXPENSE 58071 58071 DUES AND SUBSCRIPTIONS 33407 23771 6253 3383 3327155 2107573 956040 263542 413374 488195 8299394 10297205 157465 256584 91355 97677 1454062 264896 1226236 1189166 32987669 34871789 8857581 3755964 52033074 50956580 446625 215413 18153998 17517420 5000000 5000000 177186 38528 23777809 22771361 X 26931999 27345659 1323266 839560 28255265 28185219 52033074 50956580 39765 -109811 0 X X 0 1 X 1 0 X 5454893 1704727 6044261 3121786 873626 17199293 5454893 1704727 6044261 3121786 873626 17199293 1781102 15418191 129804 103998 96700 90617 343489 764608 6773 1770 8543 17972444 10228057 0.85790 0.84880 X SCHEDULE A, PART II, SECTION B, LINE 10: THE AMOUNTS INCLUDED AS OTHER INCOME INCLUDE MISCELLANEOUS ITEMS OF INCOME THAT DO NOT MEET THE CRITERIA TO BE PRESENTED ON ANY OF THE OTHER LINES OF PART II OF THIS FORM. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 651969 651969 207103 31008 176095 548240 199680 348560 46750 34208 12542 1189166 NOTES RECEIVABLE 34871789 C 34871789 RESTRICTED CASH 3159786 DUE FROM AFFILIATE 596178 3755964 CONDITIONAL GRANT ADVANCE 38528 38528 X PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE COMBINED FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE COMBINED FINANCIAL STATEMENTS AT JUNE 30, 2023. THE ORGANIZATION'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. HDF ANNUAL BREAKFAST 76650 76650 41364 76650 76650 41364 41364 -41364 X X 0 0 0 0 0 0 0 0 0 JOAN CARTY PRESIDENT & CEO (UNTIL 5/2023) 254100 0 0 0 0 0 0 0 25729 0 279829 0 0 0 GINA DELANO INTERIM CFO (UNTIL 6/2023) 145343 0 0 0 0 0 0 0 5290 0 150633 0 0 0 PART I, LINE 3: THE COMPENSATION OF THE CEO IS ESTABLISHED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND IS BASED ON A PERFORMANCE EVALUATION, FINANCIAL RESULTS, AND COMPETITIVE SALARY REVIEW FOR SIMILAR POSITIONS. CLAY FOWLER BOARD MEMBER 49273 PARTNER OF SPINNAKER, PART OWNER OF BRIDGEPORT BUILDING WHERE HDF LEASES SPACE 0 FORM 990, PART VI, SECTION A, LINE 2 THE CHAIRMAN OF THE BOARD HAS OUTSIDE BANKING RELATIONSHIPS WITH SEVERAL BANKS REPRESENTED ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 4 THE BOARD OF DIRECTORS AT THE HOUSING DEVELOPMENT FUND, INC., AT ITS MEETING ON JUNE 29, 2023, AT WHICH A QUORUM WAS PRESENT, RESOLVED THAT SECTION 6 OF THE BYLAWS OF HOUSING DEVELOPMENT FUND, INC., AS AMENDED MARCH 25, 2011, WILL BE FURTHER AMENDED TO STATE THAT "A MAJORITY OF DIRECTORS SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS" THEREBY REPLACING THE EXISTING REQUIREMENT THAT NINE DIRECTORS SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE CEO AND DIRECTOR OF AUDIT AND INTERNAL CONTROLS. THE FORM 990 IS THEN DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO SIGN CONFLICT OF INTEREST FORMS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS ESTABLISHED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND IS BASED ON A PERFORMANCE EVALUATION, FINAL RESULTS AND COMPETITIVE SALARY REVIEW FOR SIMILAR POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED ON THE ORGANIZATION'S WEBSITE AND ARE AVAILABLE UPON REQUEST. ANY OTHER DOCUMENTATION, SUCH AS THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY, IS ALSO MADE AVAILABLE ON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND FOR SELECTING AN INDEPENDENT AUDITOR. HDF COMMUNITY WORKS LLC 100 PROSPECT STREET STAMFORD CT 06901 270160040 OPERATION OF NEIGHBORHOOD STABILIZATION PROGRAM CT 38305 1186839 HOUSING DEVELOPMENT FUND INC HDF COMMUNITY LAND TRUST INC 100 PROSPECT STREET STAMFORD CT 06901 853499522 TO ACQUIRE, DEVELOP, AND SELL AFFORDABLE PROPERTY CT 501(C)(3) LINE 8 HOUSING DEVELOPMENT FUND INC 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 HDF COMMUNITY LAND TRUST INC D 596178 FAIR VALUE