Horizon Development Properties
Also known as Blue Horizon Management Company
Horizon Development Properties reported $84.4 million in revenue and $94.1 million in expenses for calendar year 2024. Of every $100 it spent, $98.11 went to program services, $1.89 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 64.9% of the total. The highest compensation it reported for one person was $464,015 (CEO). Revenue rose 117% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $94MFor 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
Calendar year 2024 · Form 990, Part VIII · total revenue $84MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 98.1% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 1.9% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 30.5% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 64.9% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $464,015 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.49% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 0 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 15.6 | 10.0 |
| Independent voting board members Part VI 1a–1b | 7 of 7 | 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
2024 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
2024 · 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 |
|---|---|---|---|---|
| CEO Officer, 1.00 hrs/week | $0 | $398,949 | $65,066 | $464,015 |
| EVP, REAL ESTATE DEVELOPMENT Officer, 1.00 hrs/week | $0 | $225,918 | $34,304 | $260,222 |
| COO Officer, 1.00 hrs/week | $0 | $204,563 | $39,829 | $244,392 |
| CFO Officer, 1.00 hrs/week | $0 | $194,445 | $44,889 | $239,334 |
| EVP, BLUE HORIZON Officer, 1.00 hrs/week | $0 | $199,931 | $39,209 | $239,140 |
| EVP, INFORMATION TECHNOLOGY Officer, 1.00 hrs/week | $0 | $183,582 | $34,100 | $217,682 |
| EVP, LEGAL - PART YEAR Officer, 1.00 hrs/week | $0 | $171,359 | $30,836 | $202,195 |
| EVP, HOUSING CHOICE VOUCHERS Officer, 1.00 hrs/week | $0 | $175,818 | $23,519 | $199,337 |
0 people received more than $100,000 in reportable compensation from Horizon Development Properties (Part VII, line 2).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · 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–1b7 · 7 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 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- 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 50
- Volunteers Part I, line 67
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| GILBRALTAR CONSTRUCTION COMPANY INC Construction | $5,116,902 |
| CLEVELAND CONSTRUCTION Construction | $2,863,785 |
| ARNOLD ROOFING AND RESTORATION LLC Construction | $2,204,629 |
| RELIABLE RESTORATIONS Construction | $2,075,442 |
| HARMON CONSTRUCTION SERVICES LLC Construction | $1,889,417 |
Individuals listed as contractors are left out. 42 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Horizon Development Properties's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Horizon Development Properties, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Horizon Development Properties spent in 2024, $98.11 went to programs. The full breakdown, from its IRS Form 990:
Embed on your site
Similar-sized charities in this cause
- Linden PondsHingham, MA · revenue $83M · programs 85.7% · 2024
- AlliesHamilton, NJ · revenue $85M · programs 86.5% · FY2025
- Presbyterian CollegeClinton, SC · revenue $77M · programs 90.3% · FY2025
- Wisconsin Housing Preservation CorpMadison, WI · revenue $85M · programs 89.4% · 2025
- EventideMoorhead, MN · revenue $77M · programs 78.0% · FY2025
All housing & shelter charities · Largest charities in North Carolina
Questions people ask
How much of Horizon Development Properties's spending goes to programs?
In calendar year 2024, Horizon Development Properties reported that 98.1% of its $94.1 million in expenses went to program services, 1.9% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Horizon Development Properties pay its top executive?
The largest total compensation Horizon Development Properties reported for one person in calendar year 2024 was $464,015, for the role of CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Horizon Development Properties get its money?
Of $84.4 million in revenue in calendar year 2024, 30.5% came from contributions and grants and 64.9% from program service revenue (Form 990, Part VIII).
Is Horizon Development Properties a registered charity?
The IRS lists EIN 56-2246833 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
- 2024: Form 990 for calendar year 2024, object 202523169349307007 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202423199349305672 · read the filing
- 2022: Form 990 for calendar year 2022, object 202343189349315714 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203189349300245 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103169349303815 · read the filing
- 2019: Form 990 for calendar year 2019, object 202033159349302533 · read the filing
All filings for EIN 56-2246833: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.