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IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 05-0343709

ABH DEVELOPMENT CORP

Tax-exempt · NEWPORT, RI 02840

Financials

$6.2M$4.6M2023
Revenue Expenses · by fiscal year end
Financials of ABH DEVELOPMENT CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
September 30, 2024990$6,169,293$4,568,929$1,600,364$21,629,672$9,009,151$12,620,521
Financial details: 990 for the year ended September 30, 2024

Revenue

Contributions, gifts and grants
$2,275,260
of which government grants
$2,066,725
Program service revenue
$3,625,996
Investment income
$243,983
Net gain from sales of assets
$225,787
Other revenue
$24,054

Expenses

Grants and similar amounts paid
$185,704
Compensation of officers, directors and key employees
$169,258
Other salaries and wages
$1,166,481
Salaries, compensation and benefits (total)
$1,710,160
Professional fundraising fees
$0
Legal fees
$17,967
Accounting fees
$39,152
Occupancy
$7,200
Travel
$7,694
Depreciation
$312,127
Program services (functional)
$4,329,448
Management and general (functional)
$239,481

Balance sheet and other

Total assets, start of year
$25,696,917
Total assets, end of year
$21,629,672
Total liabilities, end of year
$9,009,151
Net assets, end of year
$12,620,521
Land, buildings and equipment
$13,343,196
Publicly traded securities
$1,131
Net assets without donor restrictions
$8,173,289
Net assets with donor restrictions
$4,447,232
Gross receipts
$8,517,400
Employees
18
Volunteers
8
Year formed
1969
State of legal domicile
RI

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended September 30, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
CHRISTIAN BELDENEXECUTIVE DIRECTOR
Key employee
40$169,258$20,002
MARJORIE JENSENDIRECTOR
Trustee or director
1$0$0
ROBERT SABELTREASURER
Trustee or director, Officer
2$0$0
PATRICIA SARGENTPRESIDENT
Trustee or director, Officer
1$0$0
JENNIFER MURRAYDIRECTOR
Trustee or director
1$0$0
SUSAN BODINGTONSECRETARY
Trustee or director, Officer
2$0$0
ELIZABETH PHELPSVICE PRESIDENT
Trustee or director, Officer
2$0$0
BARBARA O'REILLYDIRECTOR
Trustee or director
1$0$0
ALLYSON MCCALLADIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
50 WASHINGTON SQUARE, NEWPORT, RI 02840-3083
Mailing address (990-N for 2024)
50 WASHINGTON SQUARE, NEWPORT RI 02840
Principal officer (990 for 2023)
CHRISTIAN BELDEN, 50 WASHINGTON SQUARE, NEWPORT, RI 02840
Principal officer (990-N for 2024)
CHRISTIAN BELDEN, 50 WASHINGTON SQUARE, NEWPORT RI 02840
Signed the 990
CHRISTIAN BELDEN, EXECUTIVE DIRECTOR
Phone
(401) 846-5114
Return prepared by
D'AMBRA CPA

Mission

TO PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS PRIMARILY THROUGH FINANCIAL AND TECHNICAL ASSISTANCE IN HOME OWNERSHIP AND RENTAL OPPORTUNITIES.

990 for the year ended September 30, 2024

Program accomplishments

  • THE ORGANIZATION PROVIDES HOME OWNERSHIP AND RENTAL OPPORTUNITIES TO LOW AND MODERATE INCOME PERSONS THROUGH RENTAL OF PROPERTY, ACQUISITION, REHABILITATION AND SALE OF PROPERTIES AND DEVELOPMENT OF AFFORDABLE HOUSING. THE ORGANIZATION HAS 115 APARTMENTS AVAILABLE FOR RENT AT AFFORDABLE RATES. THE ORGANIZATION IS WORKING ON 21 PROPERTIES IN VARIOUS STAGES OF REHABILITATION INCLUDING 14 SOLD DURING THE YEAR. THE ORGANIZATION IS WORKING ON THE REHABILITATION OF 2 EXISITING AND 2 NEW AFFORDABLE HOUSING COMPLEXES AND THE ORGANIZATION ALSO WORKED ON 3 PREDEVELOPMENT PROJECTS THAT WOULD PROVIDE FOR ADDITIONAL AFFORDABLE HOUSING. FOR PROPERTIES SOLD TO LOW AND MODERATE INCOME PERSONS, THE ORGANIZATION RETAINED OWNERSHIP OF THE LAND UNDER A LAND TRUST MODEL AND SOLD THE BUILDING WITH A GROUND LEASE LIMITING FUTURE SALES TO PERSONS MEETING INCOME LIMITS FOR LOW AND MODERATE INCOME HOUSEHOLDS. THE ORGANIZATION OWNS 106 PARCELS OF LAND UNDER THE LAND TRUST MODEL.
    Expenses $4,122,435 · grants $185,704 · revenue $3,590,990
  • REVOLVING LOAN FUND INITIALLY FUNDED BY FEDERAL FUNDS PASSED THROUGH VARIOUS RI COMMUNITIES AND ADDITIONAL FUNDS PROVIDED BY THE ORGANIZATION USED TO PROVIDE ACQUISITION AND PROPERTY REHABILITATION LOANS TO LOW AND MODERATE INCOME PERSONS CONSISTING OF 307 LOANS, INCLUDING 25 NEW LOANS DURING THE YEAR. IN ADDITION, THE ORGANIZATION ASSISTS THE LOCAL COMMUNITY IN ADMINISTERING ITS CDBG LOAN FUND FOR LOW AND MODERATE INCOME PERSONS OF WHICH THE ORGANIZATION ASSISTED IN THE ADMINISTRATION OF 1 LOAN DURING THE YEAR.
    Expenses $207,013 · revenue $284,847

What it must file and when

IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025September 30, 2026February 15, 2027Not due yet
2024September 30, 2025February 16, 2026990-N on file
2023September 30, 2024February 17, 2025990 on file

File the 2025 990-N for ABH DEVELOPMENT CORP

Due February 15, 2027 · e-filed with the IRS by 990.tax, an IRS-authorized e-file provider

IRS record

EIN
05-0343709
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1971
Accounting year ends
September
Files
Form 990-N (e-Postcard)

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-N for 2024
Officer: CHRISTIAN BELDEN
September 30, 2025≤ $50,000 receipts––e-Postcard
990September 2024–––IRS
990September 2023$5,217,929$3,572,705$25,696,917IRS
990September 2022–––IRS
990September 2021–––IRS
990September 2020–––IRS
990September 2019–––IRS
990September 2018–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.

Questions about ABH DEVELOPMENT CORP

What is the EIN of ABH DEVELOPMENT CORP?
The employer identification number (EIN) of ABH DEVELOPMENT CORP is 05-0343709.
Is ABH DEVELOPMENT CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1971.
Are donations to ABH DEVELOPMENT CORP tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ABH DEVELOPMENT CORP file?
Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
When is the next return of ABH DEVELOPMENT CORP due?
The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ABH DEVELOPMENT CORP last file with the IRS?
The latest return in the IRS public files is the 990-N for 2024 for the year ended September 30, 2025.
Who is the principal officer of ABH DEVELOPMENT CORP?
The 990 for the year ended September 30, 2024 names CHRISTIAN BELDEN.
Who are the officers and directors of ABH DEVELOPMENT CORP?
The 990 for the year ended September 30, 2024 lists 9 people; 1 received compensation from the organization, the highest $169,258 (CHRISTIAN BELDEN, EXECUTIVE DIRECTOR).
How much revenue does ABH DEVELOPMENT CORP have?
On its 990 for the year ended September 30, 2024 it reported revenue of $6,169,293, expenses of $4,568,929 and total assets of $21,629,672 at year end.

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