Nonprofit · EIN 85-0866443
HOMESTEAD DEVELOPMENT CORP
Tax-exempt · LAKE PLACID, NY 12946
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,094,710 | $3,765,766 | -$671,056 | $1,010,818 | $628,236 | $382,582 |
| December 31, 2023 | 990 | $930,076 | $770,077 | $159,999 | $3,558,992 | $2,505,882 | $1,053,110 |
| December 31, 2022 | 990 (amended) | $992,002 | $703,551 | $288,451 | $1,623,820 | $731,597 | $892,223 |
| December 31, 2021 | 990 (amended) | $603,185 | $12,369 | $590,816 | $762,676 | $153,125 | $609,551 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $717,526
- Program service revenue
- $2,375,000
- Investment income
- $2,184
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $13,242
- Occupancy
- $1,140
- Program services (functional)
- $3,743,955
- Management and general (functional)
- $21,811
Balance sheet and other
- Total assets, start of year
- $3,558,992
- Total assets, end of year
- $1,010,818
- Total liabilities, end of year
- $628,236
- Net assets, end of year
- $382,582
- Gross receipts
- $3,094,710
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2020
- State of legal domicile
- NY
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 |
|---|---|---|---|
| Stephen Sama | President Trustee or director, Officer | 5 | $0 |
| John B Huttlinger jr | Treasurer Trustee or director, Officer | 3 | $0 |
| Whit Bissell | Vice President Trustee or director, Officer | 1 | $0 |
| Jamie Rogers | Secretary Trustee or director, Officer | 3 | $0 |
| Maja Giambalvo | Trustee Trustee or director | 1 | $0 |
| Emily Kilburn Politi | Trustee Trustee or director | 3 | $0 |
| Timothy Seymour | Trustee Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Stephen Sama | President Trustee or director, Officer | 5 | $0 |
| John B Huttlinger jr | Treasurer Trustee or director, Officer | 3 | $0 |
| Whit Bissell | Vice President Trustee or director, Officer | 1 | $0 |
| Jamie Rogers | Secretary Trustee or director, Officer | 3 | $0 |
| Maja Giambalvo | Trustee Trustee or director | 1 | $0 |
| Emily Kilburn Politi | Trustee Trustee or director | 3 | $0 |
| Timothy Seymour | Trustee Trustee or director | 1 | $0 |
990 for the year ended December 31, 2022: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Stephen Sama | President Trustee or director, Officer | 5 | $0 |
| John B Huttlinger jr | Treasurer Trustee or director, Officer | 3 | $0 |
| Whit Bissell | Vice President Trustee or director, Officer | 1 | $0 |
| Jamie Rogers | Secretary Trustee or director, Officer | 3 | $0 |
| Emily Kilburn Politi | Trustee Trustee or director | 3 | $0 |
| Timothy Seymour | Trustee Trustee or director | 1 | $0 |
990 for the year ended December 31, 2021: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Stephen Sama | President Trustee or director, Officer | 5 | $0 |
| John B Huttlinger jr | Treasurer Trustee or director, Officer | 3 | $0 |
| Whit Bissell | Vice President Trustee or director, Officer | 1 | $0 |
| Jamie Rogers | Secretary Trustee or director, Officer | 3 | $0 |
| Emily Kilburn Politi | Trustee Trustee or director | 3 | $0 |
| Timothy Seymour | Trustee Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 70 TRILLIUM DR, LAKE PLACID, NY 12946-3417
- In care of
- % STEPHEN S SAMA
- Principal officer (990 for 2024)
- Stephen Sama, 70 Trillium Drive, Lake Placid, NY 12946
- Signed the 990
- Stephen Sama, President
- Phone
- (518) 265-7278
- Website
- www.homesteadadk.org
- Return prepared by
- Adirondack Audit Co Inc
Mission
To construct affordable energy efficient housing for purchase by essential workers in the Village of Lake Placid, New York and the town of North Elba, New York in order to preserve a community lifestyle in an otherwise transient environment.
Program accomplishments
- Acquisition of vacant land from donor, completion of engineering design, site preparation, and begin construction of affordable housing complex in Lake Placid and North Elba.Expenses $3,743,955 · revenue $2,375,000
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
- 85-0866443
- 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
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $1,010,818
- Income (IRS master file)
- $3,094,710
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,094,710 | $3,765,766 | $1,010,818 | IRS |
| 990 | December 2023 | $930,076 | $770,077 | $3,558,992 | XML |
| 990 | December 2022 | $992,002 | $703,551 | $1,623,820 | XML |
| 990 | December 2021 | $603,185 | $12,369 | $762,676 | XML |
| 990-EZ | December 2020 | – | – | – | 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 85-0866443).
Questions about HOMESTEAD DEVELOPMENT CORP
- What is the EIN of HOMESTEAD DEVELOPMENT CORP?
- The employer identification number (EIN) of HOMESTEAD DEVELOPMENT CORP is 85-0866443.
- Is HOMESTEAD DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to HOMESTEAD DEVELOPMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HOMESTEAD DEVELOPMENT CORP 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 HOMESTEAD DEVELOPMENT CORP 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 HOMESTEAD DEVELOPMENT CORP 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 HOMESTEAD DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 names Stephen Sama.
- Who are the officers and directors of HOMESTEAD DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does HOMESTEAD DEVELOPMENT CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,094,710, expenses of $3,765,766 and total assets of $1,010,818 at year end.
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All nonprofits in LAKE PLACID · New York · Housing and shelter