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Nonprofit · EIN 11-2933129

NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION

Tax-exempt · NEW YORK, NY 10017

Financials

$12.4M$11.2M2023$13.3M$12.8M2024
Revenue Expenses · by fiscal year end
Financials of NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$13,287,489$12,779,039$508,450$44,237,144$25,701,113$18,536,031
December 31, 2023990$12,386,503$11,165,097$1,221,406$34,085,608$16,058,027$18,027,581
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$1,250,000
Program service revenue
$12,031,609
Investment income
$9,168
Other revenue
-$3,288

Expenses

Grants and similar amounts paid
$5,576,945
Other salaries and wages
$3,946,841
Salaries, compensation and benefits (total)
$5,265,139
Professional fundraising fees
$0
Legal fees
$116,691
Accounting fees
$185,305
Occupancy
$68,679
Travel
$310,176
Program services (functional)
$11,211,122
Management and general (functional)
$1,567,917

Balance sheet and other

Total assets, start of year
$34,085,608
Total assets, end of year
$44,237,144
Total liabilities, end of year
$25,701,113
Net assets, end of year
$18,536,031
Net assets without donor restrictions
$18,536,031
Gross receipts
$13,287,489
Employees
0
Volunteers
0
Year formed
1988
State of legal domicile
VA

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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
DANIEL MARSH IIIPRESIDENT/BOARD MEMBER
Trustee or director, Officer
4.4$0$531,397$73,655
MICHAEL GRIFFINBOARD MEMBER
Trustee or director
45.5$0$366,362$85,432
ADAM ENNISBORD MEMBER/COO
Trustee or director, Officer
20$0$351,274$92,962
DAVID J TREVISANIBOARD MEMBERR/VP
Trustee or director, Officer
6$0$284,339$124,916
KEVIN GREMSEBOARD MEMBER
Trustee or director
1$0$274,418$100,815
STEPHANIE DUGANBOARD MEMBER
Trustee or director
28$0$250,665$91,151
RAQUEL FAVELABOARD MEMBER
Trustee or director
1$0$293,881$38,849
DANIEL CHOIVICE PRESIDENT
Officer
12.5$0$271,108$60,981
CHARLEY DEPEWBOARD MEMBER
Trustee or director
1$0$255,296$38,772
JENNIFER VERTREESSECRETARY
Officer
25.5$0$114,248$87,566
990 for the year ended December 31, 2023: 11 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
DANIEL MARSH IIIPRESIDENT/BD MEMBER
Trustee or director, Officer
2.75$0$519,444$163,290
MICHAEL GRIFFINBOARD MEMBER
Trustee or director
45.5$0$354,428$89,177
GERTRUDE SCRIVENBOARD MEMBER
Trustee or director
0.5$0$273,305$131,878
ADAM ENNISBORD MEMBER/COO
Trustee or director, Officer
20$0$298,140$87,486
KEVIN GREMSEBOARD MEMBER
Trustee or director
1$0$269,640$104,024
DAVID J TREVISANIBOARD MEMBERR/VP
Trustee or director, Officer
6$0$249,303$103,509
STEPHANIE DUGANBOARD MEMBER
Trustee or director
38$0$247,304$89,349
RAQUEL FAVELABOARD MEMBER
Trustee or director
1$0$271,994$53,205
CHARLEY DEPEWBOARD MEMBER
Trustee or director
1$0$247,953$65,048
DANIEL CHOIVICE PRESIDENT
Officer
2.5$0$225,345$83,166
JENNIFER VERTREESSECRETARY
Officer
25.5$0$110,863$84,444

Address and contacts

Address (IRS master file)
633 THIRD AVE 19J, NEW YORK, NY 10017-6706
Principal officer (990 for 2024)
DANIEL MARSH III, 633 THIRD AVE 19J, NEW YORK, NY 10017
Signed the 990
DANIEL MARSH III, PRESIDENT
Phone
(212) 682-1106
Return prepared by
COHNREZNICK ADVISORY LLC

Mission

NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION WAS ORGANIZED FOR THE FOLLOWING CHARITABLE PURPOSES:A. TO CONSTRUCT NEW LOW INCOME HOUSING AND TO DEVELOP, MANAGE, OPERATE, PROMOTE, FUND, AND SUPPORT EXISTING LOW (CONT. ON SCHEDULE O)

990 for the year ended December 31, 2024

Program accomplishments

  • 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 MORE THAN 14,000 OF UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE LOW-INCOME HOUSING EQUATING TO BILLIONS OF DOLLARS OF INVESTMENT IN LOW-INCOME COMMUNITIES ACROSS THE COUNTRY.
    Expenses $9,183,394 · grants $4,606,192 · revenue $9,682,655
  • LESSENING THE BURDENS OF GOVERNMENT: HEDC ALSO PARTNERS WITH UNITS OF LOCAL GOVERNMENT TO ERECT AND MAINTAIN PUBLIC BUILDINGS, MONUMENTS, AND FACILITIES; AND TO PROMOTE SOCIAL WELFARE. THE UNDERLYING MISSION IS TO "LESSEN THE BURDEN OF GOVERNMENT". PROJECTS INCLUDE PUBLIC BUILDINGS AND CITY HALLS, EDUCATIONAL AND MEDICAL RESEARCH FACILITIES, STUDENT HOUSING, PARKING FACILITIES AND OTHER PUBLIC INFRASTRUCTURE.
    Expenses $1,267,690 · grants $446,569 · revenue $1,079,061
  • STIMULATE ECONOMIC DEVELOPMENT IN ECONOMICALLY DEPRESSED AREAS: HEDC WORKS WITH NONPROFIT ORGANIZATIONS, SERVICE PROVIDERS AND UNITS OF LOCAL GOVERNMENT TO STIMULATE ECONOMIC DEVELOPMENT IN THE ECONOMICALLY DEPRESSED NEIGHBORHOODS ACROSS THE NATION. WORKING THROUGH THE NEW MARKETS TAX CREDIT PROGRAM ALONG WITH OTHER FINANCING TOOLS FOR SMALL BUSINESSES AND NONPROFITS, 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.(CONT. SEE SCHEDULE O)NDC COMMUNITY IMPACT LOAN FUND (CILF) UNGUARANTEED LENDING TO WOMEN, MINORITIES, AND INDIVIDUALS IN DISADVANTAGED COMMUNITIES. CILF, HEDC'S NATIONAL CDFI AND MEMBER OF THE FEDERAL HOME LOAN BANK OF NEW YORK, WORKS WITH PARTNER-COMMUNITIES AND INVESTORS THROUGHOUT THE UNITED STATES TO STIMULATE ECONOMIC DEVELOPMENT BY PROVIDING CAPITAL FOR TARGETED GROWTH IN ECONOMICALLY DEPRESSED AREAS. CILF ENGAGES DIRECTLY WITH SMALL BUSINESS OWNERS ACROSS THE COUNTRY BY EXTENDING LOW-COST AND FAIR FINANCING. CILF ALSO OPERATES AND PARTICIPATES IN LOAN PROGRAMS FUNDED BY BOTH PUBLIC AND PRIVATE CLIENTS, IN WHICH CILF ULTIMATELY MAKES END LOANS TO BORROWERS. CILF'S ACTIVITIES CREATE OR RETAIN JOBS, ALLOW BUSINESSES TO EXPAND, RESTRUCTURE DEBT, AND MAKE IT POSSIBLE FOR BUSINESS OWNERS TO CREATE WEALTH.
    Expenses $760,038 · grants $524,184 · revenue $1,266,605

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
11-2933129
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Group exemption
Exempt since
1988
Accounting year ends
December
Files
Form 990 or 990-EZ
Group exemption
9219 (57 member organizations)
Assets (IRS master file)
$44,237,144
Income (IRS master file)
$13,287,489

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$13,287,489$12,779,039$44,237,144XML
990December 2023$12,386,503$11,165,097$34,085,608XML
990December 2022$13,208,840$11,761,090$30,272,835IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 11-2933129).

Questions about NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION

What is the EIN of NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION?
The employer identification number (EIN) of NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION is 11-2933129.
Is NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
Are donations to NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Group exemption).
Which annual return does NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 names DANIEL MARSH III.
Who are the officers and directors of NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 lists 10 people; 0 received compensation from the organization.
How much revenue does NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $13,287,489, expenses of $12,779,039 and total assets of $44,237,144 at year end.

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