Nonprofit · EIN 76-0380705
HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION
Tax-exempt · HOUSTON, TX 77003
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $13,401,048 | $14,459,903 | -$1,058,855 | $104,793,654 | $49,696,564 | $55,097,090 |
| December 31, 2023 | 990 | $4,459,262 | $6,929,542 | -$2,470,280 | $98,269,929 | $42,124,900 | $56,145,029 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $13,279,147
- Investment income
- $121,901
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $7,865,736
- Compensation of officers, directors and key employees
- $425,803
- Other salaries and wages
- $1,689,220
- Salaries, compensation and benefits (total)
- $2,404,223
- Professional fundraising fees
- $0
- Legal fees
- $32,999
- Accounting fees
- $39,700
- Occupancy
- $1,334,745
- Travel
- $8,831
- Depreciation
- $1,404,236
- Program services (functional)
- $13,891,368
- Management and general (functional)
- $568,535
Balance sheet and other
- Total assets, start of year
- $98,269,929
- Total assets, end of year
- $104,793,654
- Total liabilities, end of year
- $49,696,564
- Net assets, end of year
- $55,097,090
- Land, buildings and equipment
- $24,348,133
- Publicly traded securities
- $2,011,633
- Net assets without donor restrictions
- $55,097,090
- Gross receipts
- $22,992,764
- Employees
- 0
- Volunteers
- 16
- Year formed
- 1992
- State of legal domicile
- TX
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.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Joy Horak-Brown | President & CEO Officer | 25 | $190,800 | $190,800 | $924 |
| Tamara Foster | EVP Onsite Ops/Strategic Partnerships Officer | 5 | $0 | $227,700 | $22,041 |
| Ron Lastimosa | VP Real Estate Development Key employee | 50 | $210,000 | $0 | $24,541 |
| Katie Lamb | VP People & Culture Key employee | 5 | $0 | $188,250 | $22,829 |
| Diana Gross | VP Philanthrophy & Communications Key employee | 2 | $0 | $188,250 | $22,041 |
| Ash Hussain | Director of Finance Highest-paid employee | 5 | $0 | $148,000 | $15,641 |
| Stacey Lastovica | VP Property Management Highest-paid employee | 5 | $0 | $138,000 | $22,641 |
| Katherine Anchondo | Real Estate Development Manager Highest-paid employee | 50 | $117,252 | $0 | $26,981 |
| Rhonda Bonfiled | Dir. of Foundations and Corp Rel. Highest-paid employee | 2 | $0 | $119,600 | $10,482 |
| John Peavy | CFO (from July) Officer | 5 | $0 | $128,679 | $234 |
| Aziz Ouedraogo | Senior Manager Finance Highest-paid employee | 5 | $0 | $105,000 | $13,483 |
| Calvin Tang | CFO (to March) Officer | 5 | $0 | $43,333 | $2,385 |
| Ricardo Rivas | Chairman Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Andrea Link | Vice Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Kevin Fulton | Secretary Trustee or director, Officer | 1 | $0 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Janice E Walker | Treasurer Trustee or director, Officer | 1 | $0 |
| Sanford W Criner Jr | Chair Emertius Trustee or director | 2 | $0 |
| Michael M Fowler | Chair Emertius Trustee or director | 2 | $0 |
| Kenneth J Valach | Chair Emertius Trustee or director | 4 | $0 |
| Bolivar Fraga | Director Trustee or director | 1 | $0 |
| Irma G Galvan | Director Trustee or director | 1 | $0 |
| Preston Roe | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Joy Horak-Brown | President & CEO Officer | 20 | $146,430 | $219,645 | $903 |
| Tamara Foster | EVP Onsite Ops/Strategic Partnerships Officer | 5 | $0 | $230,000 | $16,598 |
| Calvin Tang | CFO Officer | 5 | $0 | $210,000 | $15,669 |
| Ron Lastimosa | VP Fund Development Key employee | 50 | $200,000 | $0 | $12,731 |
| Katie Lamb | VP Human Resources Key employee | 5 | $0 | $165,000 | $14,448 |
| Diana Gross | VP Real Estate Development Key employee | 2 | $0 | $163,500 | $15,891 |
| Ash Hussain | Director of Finance Highest-paid employee | 5 | $0 | $137,500 | $13,599 |
| Katherine Anchondo | Real Estate Development Manager Highest-paid employee | 50 | $0 | $122,103 | $12,036 |
| Stacey Lastovica | VP Property Management Highest-paid employee | 5 | $0 | $114,860 | $13,126 |
| Rhonda Bonfiled | Dir. of Foundations and Corp Relations Highest-paid employee | 2 | $0 | $111,470 | $12,991 |
| Kenneth J Valach | Executive Chair Trustee or director, Officer | 5 | $0 | $0 | $0 |
| Sanford W Criner Jr | Vice Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Michael M Fowler | Chair Emertius Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Ricardo Rivas | Secretary Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Janice E Walker | Treasurer Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Bolivar Fraga | Director Trustee or director | 1 | $0 | $0 | $0 |
| Irma G Galvan | Director Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3315 HARRISBURG BLVD APT 400, HOUSTON, TX 77003-2466
- In care of
- % ELLEN EUDY
- Principal officer (990 for 2024)
- Joy Horak-Brown, 3315 Harrisburg Blvd 400, Houston, TX 77003
- Signed the 990
- John Peavy, Chief Financial Officer
- Phone
- (713) 222-0290
- Website
- www.newhopehousing.com
- Return prepared by
- Blazek & Vetterling
Mission
See Schedule O
Program accomplishments
- See Schedule OExpenses $603,463
- See Schedule OExpenses $1,093,404 · revenue $102,242
- See Schedule OExpenses $418,282 · revenue $119,405
- HACDC, in concert with New Hope Housing, operates a continuous development cycle where we have 2 to 3 projects in varying stages of development at any given time. We operate to the standards of the for-profit multifamily industry, and our real estate development model is a testament to that work.NHH at Sakowitz - 166 unitsTo facilitate the development of NHH at Sakowitz, the City of Houston made a performance-based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Sakowitz SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, The Fondren Foundation and other foundations and corporations.Sakowitz is the first LEED certified affordable housing in the State of Texas, and it is also Houston's first 'green' multifamily housing development. The fact that Sakowitz is 'supportive' housing and that it has achieved platinum certification the highest level makes this recognition even more significant. Situated in Greater Fifth Ward/Denver Harbor, Sakowitz opened in October 2010.
- NHH at Perry - 160 units To facilitate the development of NHH at Perry, the City of Houston made a performance-based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Perry SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, JPMorgan Chase Foundation and other foundations and corporations.As a LEED platinum certified property, Perry is New Hope's second energy-efficient, 'green' property. The building opened in October 2012.Situated in Foster Place, one of Houston's historic neighborhoods, the Perry property is located south of the University of Houston off Griggs Road and Cullen Boulevard. Perry is New Hope's sixth SRO community.
- NHH at Rittenhouse - 160 units To facilitate the development of Rittenhouse, the City of Houston made a performance-based grant to Houston Area Community Development Corporation, who, in turn, loaned the funds to Rittenhouse SRO, Ltd. The development also includes financing from Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, The Meadows Foundation, and other foundation and corporate supporters. As a LEED platinum certified development, Rittenhouse is New Hope's third energy-efficient, 'green' property. Rittenhouse is New Hope's first property north of Loop 610 and is located off I-45 North at the corner of Stuebner Airline and Rittenhouse Road. Rittenhouse is New Hope's seventh SRO property. The building opened in December 2013, and reached stabilized occupancy in record time, which speaks strongly to the dire community need for this type of housing.
- NHH at Reed - 187 unitsWith the opening of Rittenhouse, New Hope celebrated reaching its near-term goal of developing and managing almost 1,000 units of SRO housing. There is a compelling need for Housing + Services for a number of vulnerable populations in Houston, and New Hope is now positioned to address a variety of supportive housing needs. The Board of Directors made a strategic decision to respond to this need, and to expand New Hope's reach to reduce the footprint of homelessness for Houston families, as well as continuing to serve individuals.New Hope has opened its first affordable, supportive housing for homeless and near homeless families. This innovative community, NHH at Reed, is a 187-unit apartment complex made up of 1-, 2-, and 3-bedroom units. It is located off Highway 288 and Reed Road. With the goal to uplift families from generational poverty, the organization provides robust onsite social services that focus on addressing food insecurities, education, health, and employment. Designed by GSMA, Inc. and constructed by Camden Builders, this development is LEED Gold certified. A grand opening ceremony took place in September 2018.The Reed development has received numerous accolades and media mentions since its opening. That includes being honored, together with its neighboring partner Star of Hope, with the 2020 ULI-Houston Development of Distinction award. The City of Houston committed $10.1MM in local Homeless Bond Program funds, which have been leveraged with other public/private investments.
- NHH at Harrisburg - 175 unitsNew Hope opened its first mixed-use development, NHH at Harrisburg. This transit-oriented community is a 175-unit SRO serving individuals living on extremely low incomes. The nonprofit organization celebrated a grand opening in April 2018. Located on the light rail in Houston's East End, Harrisburg also includes 4,000 SF of retail space and 7,500 SF of commercial office space, which is now home to New Hope's corporate office. Underscoring their commitment to mission, New Hope located their headquarters where their residents live. As the organization's fourth LEED platinum certified development, NHH at Harrisburg was designed by Ernesto L. Maldonado, AIA of GSMA, Inc.As evidence of its impact on the community, Harrisburg has already been honored with several awards and accolades, including: the 2019 Houston Business Journal Landmark Award in Community Impact; the Houston Apartment Association Landmark Award in Tax Credits; the National Association of Housing and Redevelopment Officials Award of Excellence; and, the U.S. Green Building Council Leadership Award. The City of Houston committed $6.6MM in HOME funds plus a portion of local Homeless Bond Program funds. To create a true public/private partnership, New Hope leveraged these funds with 4% Housing Tax Credits and Bonds, allocated by the Texas Department of Housing and Community Affairs, in addition to grants and contributions from private sources. Under the terms of an agreement for the sale of New Hope's original 129-unit Hamilton Street Residence, Hamilton closed when Harrisburg opened. Hamilton residents were given the opportunity to move to the new 175-unit Harrisburg property or to another New Hope property of their choice, based on availability and eligibility.
- NHH Dale Carnegie - 170 units New Hope celebrated the opening of its ninth SRO development, NHH Dale Carnegie, in October 2020. NHH Dale Carnegie was the first affordable housing development to break ground in Houston after Hurricane Harvey. The timing of its opening was fortuitous as people recover from COVID-19 and natural disasters. Located in the Sharpstown area of southwest Houston, this project is a 170-unit SRO serving individuals on extremely low incomes. Many of the residents are people who have experienced homelessness. Ernesto L. Maldonado, AIA of GSMA, Inc. designed this LEED Gold certified property.The City of Houston committed $8.5MM in HOME plus a portion of local Homeless Bond Program funds. To create a true public/private partnership, New Hope leveraged these funds with 9% Housing Tax Credits, allocated by the Texas Department of Housing, and Community Affairs, in addition to grants and contributions from private sources.
- NHH Avenue J - 100 unitsIn 2022, New Hope opened its second property for families. Located in Houston's vibrant, culturally-rich East End, NHH Avenue J offers 100 units of 1- and 2-bedroom apartments for working families and those on a fixed income. This multifamily property is our first designed for working families. It is in the historic Second Ward where naturally occurring affordable housing (NOAH) is dwindling, and development of high-end urban homes are becoming prolific. The location is one of Houston's five Complete Communities and a designated Concrete Revitalization Area. It will offer an affordable option in a rapidly gentrifying neighborhood with escalating rental rates.The City of Houston invested $12.4MM in Community Development Block Grant (CDBG) Disaster Relief funds, which were monies allocated to local municipalities by the U.S. Department of Housing and Community Development. Those funds were leveraged with 4% Housing Tax Credits and Bonds, allocated by the Texas Department of Housing and Community Affairs. Additional grants and contributions from private sources helped to close the funding gap.
- NHH Savoy - 120 unitsThis multifamily property is our second for working families. It is also the second New Hope property in Houston's Southwest Sharpstown neighborhood, just a block from the Dale Carnegie SRO. This high-quality apartment community is thoughtfully designed near health and education institutions in a transit-centric neighborhood near high frequency bus lines. The NHH Savoy property was completed in Q3 2023 and offers 120 apartment homes comprised of 1-, 2- and 3-units and 6,000 square feet of shared community space.The City of Houston invested $13.2MM in Community Development Block Grant (CDBG) Disaster Relief funds. These are monies allocated to local municipalities by the U.S. Department of Housing and Community Development to help Texas rebuild and recover from Hurricane Harvey. Those funds were leveraged with 9% Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs. Additional grants and contributions from private sources closed the funding gap.
- NHH Berry - 180 unitsNew Hope Housing Berry (NHH Berry) is located in the Northline neighborhood. It opened in 2025 and offers 180 low-income households a resilient and sustainable solution to the increasing affordable housing shortage in the wake of Hurricane Harvey and the pervasive substandard rental housing for families.
- NHH Gray - 135 unitsIn Q2 2021, New Hope received approval from Midtown Redevelopment Authority (MRA) to begin pre-development of New Hope Housing Gray (NHH Gray). This project opened in 2025 and houses 135 low- to moderate-income seniors. It is located in the historic Third Ward on Gray Street as a collaboration between New Hope Housing, MRA, and the Center for Civic and Public Policy Improvement(CCPPI).
- NHH Ennis - 102 unitsNew Hope Housing Ennis (NHH Ennis) opened in 2025 and is New Hope's second affordable community serving seniors and will be located in Houston's vibrant East Downtown neighborhood.
- NHH Avenue C - 120 units New Hope Housing Avenue C (NHH Ave C) will be New Hope's third affordable community serving seniors and will be located in the East End.
- Expenses $11,776,219 · grants $7,865,736 · revenue $13,057,500
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 76-0380705
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1993
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P80)
- Assets (IRS master file)
- $104,793,654
- Income (IRS master file)
- $22,992,764
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $13,401,048 | $14,459,903 | $104,793,654 | XML |
| 990 | December 2023 | $4,459,262 | $6,929,542 | $98,269,929 | XML |
| 990 | December 2022 | $14,223,563 | $2,964,277 | $86,408,909 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 76-0380705).
Questions about HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION
- What is the EIN of HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION is 76-0380705.
- Is HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HOUSTON AREA COMMUNITY 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 HOUSTON AREA COMMUNITY 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 HOUSTON AREA COMMUNITY 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 HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names Joy Horak-Brown.
- Who are the officers and directors of HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 22 people; 3 received compensation from the organization, the highest $190,800 (Joy Horak-Brown, President & CEO).
- How much revenue does HOUSTON AREA COMMUNITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $13,401,048, expenses of $14,459,903 and total assets of $104,793,654 at year end.
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