Housing Development Fund
Housing Development Fund reported $12.3 million in revenue and $3.9 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $67.08 went to program services, $23.30 to management and general costs and $9.62 to fundraising. Its largest source of revenue was contributions and grants: 75.9% of the total. Government grants made up 18.1%. The highest compensation it reported for one person was $243,446 (PRESIDENT & CEO). 7 people received more than $100,000 in reportable compensation. Revenue rose 247% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $3.9MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $12M- Contributions & grants (non-government)$57.66 $7.1M
- Government grants$18.09 $2.2M
- Program service revenue$17.43 $2.1M
- Investment income$6.82 $836K
Other revenue was negative: −$18,093. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 67.1% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 23.3% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 9.6% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.04 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 75.9% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 18.1% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 17.5% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $243,446 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 6.23% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 7 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 121.7 | 10.0 |
| Independent voting board members Part VI 1a–1b | 11 of 12 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseHomebuyer assistance underwriting - hdf provides assistance in loans for down payments and low interest second mortgages
Homebuyer assistance counseling - provide low interest, flexible financing and technical assistance to developers by providing homebuyer assistance financing and homeownership counseling to homebuyers
Multi-family housing - provide construction and permanent loans and related assistance to providers of multi-family housing to enable them to expand low and moderate income housing opportunities for families in southwestern ct
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 39.00 hrs/week | $235,000 | $0 | $8,446 | $243,446 |
| DIRECTOR OF COMMERCIAL LENDING Highest compensated employee, 40.00 hrs/week | $125,532 | $0 | $735 | $126,267 |
| DIRECTOR OF RESIDENTIAL LENDING Highest compensated employee, 40.00 hrs/week | $106,499 | $0 | $8,533 | $115,032 |
| CHIEF FINANCIAL OFFICER Highest compensated employee, 40.00 hrs/week | $107,161 | $0 | $7,372 | $114,533 |
| DIRECTOR OF HOMEBUYER DEVELOPMENT Highest compensated employee, 40.00 hrs/week | $100,576 | $0 | $8,622 | $109,198 |
| DIRECTOR OF COMMERCIAL LENDING Highest compensated employee, 40.00 hrs/week | $100,561 | $0 | $7,339 | $107,900 |
7 people received more than $100,000 in reportable compensation from Housing Development Fund (Part VII, line 2). Compensation of current officers, directors and key employees totaled $239K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b12 · 11 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 525
- Volunteers Part I, line 612
Private foundation grants it received
4 private foundations reported grants to Housing Development Fund totaling $14,516 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Housing Development Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Housing Development Fund, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Housing Development Fund spent in FY2025, $67.08 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Aishes Chayil D'Kiryas JoelMonroe, NY · revenue $12M · programs 83.6% · 2024
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- Westminster Senior ServicesOrlando, FL · revenue $12M · programs 80.5% · FY2025
- Taconic InnovationsWappingers Falls, NY · revenue $12M · programs 84.0% · 2024
All housing & shelter charities · Largest charities in Connecticut
Questions people ask
How much of Housing Development Fund's spending goes to programs?
In the fiscal year ending June 30, 2025, Housing Development Fund reported that 67.1% of its $3.9 million in expenses went to program services, 23.3% to management and general and 9.6% to fundraising (Form 990, Part IX).
How much does Housing Development Fund pay its top executive?
The largest total compensation Housing Development Fund reported for one person in the fiscal year ending June 30, 2025 was $243,446, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Housing Development Fund get its money?
Of $12.3 million in revenue in the fiscal year ending June 30, 2025, 75.9% came from contributions and grants (including 18.1% from government grants) and 17.5% from program service revenue (Form 990, Part VIII).
Is Housing Development Fund a registered charity?
The IRS lists EIN 06-1276156 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202513579349300801 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202443589349300524 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202400169349301055 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202223569349300437 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202220109349301507 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202100119349300335 · read the filing
All filings for EIN 06-1276156: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.