CHICAGO, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)HOMESTEAD AFFORDABLE DEVELOPMENT CORPORATION, founded in 2014, is a small nonprofit that reported $242K in total revenue in fiscal year 2020. Revenue surged 396% from the prior year, signaling strong growth momentum. Expenses of $2.0M exceeded revenue, resulting in a 721% operating deficit.
HADC'S mission is to provide affordable housing to moderate and low income families and seniors in the Midwest region of the United States. One of the most pressing problems in the Midwest, and across the U.S., has been and continues to be providing adequate, safe and clean affordable housing for the very low, low and moderate income families and senior citizens. As the U.S. economy improves, it has left in its wake a larger divide in rental prices and the "Housing Wage."
CHICAGO HOUSE PROJECT: Chicago House has partnered with Homestead Affordable Development Corp to develop a multi-use facility at 6001 N. Clark St. in Chicago, Illinois. The site currently consists of...
CHICAGO HOUSE PROJECT: Chicago House has partnered with Homestead Affordable Development Corp to develop a multi-use facility at 6001 N. Clark St. in Chicago, Illinois. The site currently consists of a vacant, single-story building with an adjacent parking lot. The property currently is owned by a commercial enterprise that operates several grocery stores in the Chicagoland area and the owner has expressed his interest in operating a grocery store on the first floor of this property following development. Chicago House and Homestead plan to acquire ownership of the property from the investor and then construct at least two additional stories on top of the existing structure. The completed project would include office space for Chicago House on the second floor and affordable housing units for Chicago House clients on the third floor.
THE BOULEVARD PROJECT: Homestead Affordable Development Company, a Chicago 501(c)(3) affordable housing developer, in partnership with The Boulevard, a Chicago 501(c)(3). is seeking to build a nine -...
THE BOULEVARD PROJECT: Homestead Affordable Development Company, a Chicago 501(c)(3) affordable housing developer, in partnership with The Boulevard, a Chicago 501(c)(3). is seeking to build a nine - unit pilot project located at 401 N Monticell o in Chicago, IL with two end goals: i) to demonstrate the feasibility of using up-cycled high-gauge steel framing to produce housing; and, ii) to provide permanent supportive housing for The Boulevard's, homeless clients. This project will produce nine units of 640 sq. ft. one-bedroom apartments at a roughly 25% or more in cost savings and in approximately half the construction time of a traditional new construction project. This project will create architecturally and esthetically beautiful new housing that is environmentally friendly as well as energy efficient.
PROGRAM DEVELOPMENT: HADC purchased the lot located at 401 N Monticell o in Chicago, IL and has subsequently donated it to HE INTERFAITH HOUSING DEVELOPMENT CORPORATION OF CHICAGO, an Illinois...
PROGRAM DEVELOPMENT: HADC purchased the lot located at 401 N Monticell o in Chicago, IL and has subsequently donated it to HE INTERFAITH HOUSING DEVELOPMENT CORPORATION OF CHICAGO, an Illinois not-for-profit corporation.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2020 | 2019 | Change | |
|---|---|---|---|
| Revenue | $241,500 | $48,701 | +4.0% |
| Expenses | $1,981,900 | $98,947 | +19.0% |
| Net Income | $-1,740,400 | $-50,246 | +33.6% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
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Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| MONICA MAKIN | EXECUTIVE DIRECTOR | 20 |
Officer
Director
|
$38,400 | $0 | $38,400 |
| HOWARD CONANT | PRESIDENT/TREASURER | 1 |
Officer
Director
|
$0 | $0 | $0 |
| MEREDITH GEORGE | SECRETARY | 1 |
Officer
Director
|
$0 | $0 | $0 |
| JEFFREY FREIDMAN | BOARD MEMBER | 1 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2020 | $241,500 | $1,981,900 | No data | $-1,740,400 |
| 2019 | $48,701 | $98,947 | $2,039,448 | $-50,246 |
| 2018 | $28,449 | $155,886 | $1,731,344 | $-127,437 |
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