Nonprofit · EIN 91-1884698
NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION
Also known as GROUP RETURN
Tax-exempt · NEW YORK, NY 10017
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $113,153,472 | $110,899,750 | $2,253,722 | $818,576,438 | $707,192,583 | $111,383,855 |
| December 31, 2023 | 990 | $101,514,941 | $110,028,793 | -$8,513,852 | $910,447,137 | $803,924,369 | $106,522,768 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $27,274,614
- of which government grants
- $24,294,318
- Program service revenue
- $75,802,029
- Investment income
- -$1,181,403
- Net gain from sales of assets
- -$1,181,403
- Other revenue
- $11,258,232
Expenses
- Grants and similar amounts paid
- $2,819,771
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Occupancy
- $17,542,873
- Travel
- $176,973
- Depreciation
- $21,353,312
- Program services (functional)
- $103,474,516
- Management and general (functional)
- $7,425,234
Balance sheet and other
- Total assets, start of year
- $910,447,137
- Total assets, end of year
- $818,576,438
- Total liabilities, end of year
- $707,192,583
- Net assets, end of year
- $111,383,855
- Land, buildings and equipment
- $317,261,021
- Net assets without donor restrictions
- $111,383,855
- Gross receipts
- $114,334,875
- Employees
- 0
- Volunteers
- 20
- 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.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DANIEL MARSH III | PRES/BOARD MEMBER Trustee or director, Officer | 4.4 | $0 | $531,397 | $73,655 |
| MICHAEL GRIFFIN | BOARD MEMBER Trustee or director | 1 | $0 | $366,362 | $85,432 |
| ADAM ENNIS | BOARD MEMBER/COO Trustee or director, Officer | 5.5 | $0 | $351,274 | $92,962 |
| DAVID J TREVISANI | BOARD MEMBER/VICE PRESIDENT Trustee or director, Officer | 10.5 | $0 | $284,339 | $124,916 |
| KEVIN GREMSE | BOARD MEMBER Trustee or director | 1 | $0 | $274,418 | $100,815 |
| STEPHANIE DUGAN | BOARD MEMBER Trustee or director | 1 | $0 | $250,665 | $91,151 |
| RAQUEL FAVELA | BOARD MEMBER Trustee or director | 1 | $0 | $293,881 | $38,849 |
| DANIEL CHOI | CFO Trustee or director, Officer | 12.5 | $0 | $271,108 | $60,981 |
| CHARLEY DEPEW | BOARD MEMBER Trustee or director | 3 | $0 | $255,296 | $38,772 |
| JENNIE VERTREES | SECRETARY Officer | 15 | $0 | $114,248 | $87,566 |
| BILL KING | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| BRENDAN MEHAFFY | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| BYRON BROWN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| CHRISTOPHER SCANLON | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| DARRON SAXON | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
15 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GEOFFREY PERSON | BOARD MEMBER Trustee or director | 0.25 | $0 |
| JESSICA ESKRA | BOARD MEMBER Trustee or director | 0.25 | $0 |
| JOHN MURRAY | BOARD MEMBER Trustee or director | 0.25 | $0 |
| KEITH SWENSON | BOARD MEMBER Trustee or director | 0.25 | $0 |
| KISTY MORRIS | BOARD MEMBER Trustee or director | 0.25 | $0 |
| LARRY WEST | BOARD MEMBER Trustee or director | 0.25 | $0 |
| LISA NICHOLS | BOARD MEMBER Trustee or director | 0.25 | $0 |
| MARLO JACO | BOARD MEMBER Trustee or director | 0.25 | $0 |
| PAULA LIU | VICE PRESIDENT Trustee or director, Officer | 50 | $0 |
| SCOTT ANDREW | BOARD MEMBER Trustee or director | 0.25 | $0 |
| SHEILA HUMMEL | BOARD MEMBER Trustee or director | 0.25 | $0 |
| THOMAS GIBNEY | BOARD MEMBER Trustee or director | 0.25 | $0 |
| TOM SCHAPPACHER | BOARD MEMBER Trustee or director | 0.25 | $0 |
| WENDY COLE | BOARD MEMBER Trustee or director | 0.25 | $0 |
| WHITNEY TRUMBLY | BOARD MEMBER Trustee or director | 0.25 | $0 |
990 for the year ended December 31, 2023: 26 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DANIEL MARSH III | PRES/BOARD MEMBER Trustee or director, Officer | 4.4 | $0 | $519,444 | $163,290 |
| MICHAEL GRIFFIN | BOARD MEMBER Trustee or director | 1 | $0 | $354,428 | $104,024 |
| GERTUDE SCRIVEN | BOARD MEMBER Trustee or director | 0.5 | $0 | $273,305 | $131,878 |
| ADAM ENNIS | BOARD MEMBER/COO Trustee or director, Officer | 5.5 | $0 | $298,140 | $87,486 |
| KEVIN GREMSE | BOARD MEMBER Trustee or director | 1 | $0 | $269,640 | $104,024 |
| DAVID J TREVISANI | BOARD MEMBER/VICE PRESIDENT Trustee or director, Officer | 10.5 | $0 | $249,303 | $103,509 |
| RAQUEL FAVELA | BOARD MEMBER Trustee or director | 1 | $0 | $271,994 | $68,570 |
| STEPHANIE DUGAN | BOARD MEMBER Trustee or director | 1 | $0 | $247,304 | $89,349 |
| CHARLEY DEPEW | BOARD MEMBER Trustee or director | 3 | $0 | $247,953 | $65,048 |
| DANIEL CHOI | CFO Trustee or director, Officer | 20 | $0 | $225,345 | $83,166 |
| JENNIE VERTREES | SECRETARY Officer | 15 | $0 | $110,863 | $84,444 |
| BRENDAN MEHAFFY | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| BYRON BROWN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| JOHN MURRAY | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| KEITH SWENSON | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| KISTY MORRIS | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| KYLE DONAHUE | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| LARRY WEST | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| OSEREMI ADEKOYE | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| SHATORAH DONOVAN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| SHEILA HUMMEL | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| STEVEN THAYER | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| SVANTE MYRICK | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| THOMAS GIBNEY | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| TOM SCHAPPACHER | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
| WHITNEY TRUMBLY | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 | $0 |
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
- Website
- WWW.GROWAMERICA.ORG
- 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)
Program accomplishments
- 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 $76,634,633 · grants $20,000 · revenue $73,573,086
- 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 $25,711,803 · grants $2,799,771 · revenue $9,696,566
- 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 $1,128,080 · revenue $237,898
What it must file and when
IRS records say it files Group return. Included in a group return filed by its parent. 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
- 91-1884698
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Exempt since
- 1988
- Accounting year ends
- December
- Files
- Group return
- Category (NTEE)
- Housing and shelter (L200)
- Group exemption
- 9219: NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION
- Assets (IRS master file)
- $818,576,438
- Income (IRS master file)
- $114,334,875
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $113,153,472 | $110,899,750 | $818,576,438 | IRS |
| 990 | December 2023 | $101,514,941 | $110,028,793 | $910,447,137 | XML |
| 990 | December 2022 | $115,628,960 | $100,738,505 | $906,903,124 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 91-1884698).
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 91-1884698.
- Is NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Which annual return does NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION file?
- Form Group return. Included in a group return filed by its parent.
- 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 30 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 $113,153,472, expenses of $110,899,750 and total assets of $818,576,438 at year end.
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