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COMMUNITY HOMES HOUSING DEVELOPMENT FUND COMPANY
NEW YORK, NY · EIN 134145926 · Form 990 · FY2024 · NTEE L25 · Housing & Shelter · Medium ($1M-$10M)
revenue
$4.7M
expenses
$323K
net assets
$11.0M
employees
0
program ratio
74%
mission · from form 990

COMMUNITY HOMES HOUSING DEVELOPMENT FUND COMPANY, INC. ("CHHDFC") WAS ESTABLISHED TO INCREASE AND IMPROVE NEW YORK CITY'S AFFORDABLE HOUSING STOCK WHILE PROMOTING AND ADVANCING HOME OWNERSHIP FOR MINORITY, IMMIGRANT, LOW- AND MODERATE- INCOME, AND UNDERSERVED POPULATIONS. CHHDFC ACQUIRES AND SUBSEQUENTLY REHABILITATES OR BUILDS NEW ONE- TO FOUR- FAMILY HOMES. WITH A STRONG BELIEF IN THE WEALTH-GENERATING EFFECTS ON HOME OWNERSHIP IN COMMUNITIES, CHHDFC THEN SELLS THE HOME IT DEVELOPS TO FAMILIES IN TARGETED POPULATIONS. CHHDFC ALSO HELPS TO PREPARE THESE FAMILIES TO PURCHASE THEIR HOMES THROUGH A SYSTEM OF REFERRALS TO AN AFFILIATE COUNSELING AND TRAINING PROVIDER.

profile · synthesized from sources

Community Homes Housing Development Fund Company (CHHDFC) works to increase and improve affordable housing in New York City by acquiring, rehabilitating, or building one- to four-family homes. The organization sells these homes to low- and moderate-income, minority, immigrant, and underserved families, promoting wealth generation through homeownership. CHHDFC also connects prospective buyers with counseling and training services to prepare for homeownership.

named programs · 3 · from sources

What they call their work

Acquisition and Rehabilitation of Homes
Acquires one- to four-family homes in New York City and rehabilitates them to improve the affordable housing stock
Homebuyer Counseling Referral
Refers prospective homebuyers to an affiliate organization for financial and homeownership readiness training
Homeownership Development
Sells rehabilitated homes to low- and moderate-income, minority, immigrant, and underserved families to promote wealth-building through homeownership
activities · 2 groups

What they do

  • Affordable Home Construction & Rehabilitation 2 activities
    • Acquires, rehabilitates, and constructs affordable homes
      Acquires, rehabilitates, and constructs one- to four-family homes to expand the affordable housing stock for low- and moderate-income communities.
    • Sells affordable homes to underserved families
      Sells newly developed or rehabilitated homes to low- and moderate-income, minority, immigrant, and underserved families, promoting equitable homeownership opportunities.
  • First-Time Homebuyer Support Services 1 activity
    • Refers families to homeownership counseling and training
      Refers homebuyer families to an affiliate organization for counseling and training to prepare them for successful homeownership.
financials · form 990 · fy2024
revenue
Total revenue$4.71M
Contributions & grants$4.36M93%
Program service revenue$343K7%
Investment income$00%
Other revenue$6K
expenses
Total expenses$323K
Program expenses74%
Admin / overhead26%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$11.07M
Cash$1.36M
Investments$3.97M
Liabilities$42K
Net assets$11.03M
Liquid reserves198.0 mo
4 years on record · 2020–2024 · YoY revenue +47.7%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 5
NameTitleHours/wkCompensation
THOMAS YU PRESIDENT/ED 1 $346K
HUI-YUAN NELSON CHAN TREASURER/MANG. DIR. OF REAL ESTATE 1 $271K
HSUEH LAM YAN SECRETARY/DIR. ASSET &PRP. 1 $220K
MY T CHANG VP/CHIEF OF STAFF 1 $209K
JOY SUZANNE GRANADO CHIEF ACCOUNTING OFFICER (OUTGOING) 1 $197K
relationships · 1

Who they work with

  • AN AFFILIATE COUNSELING AND TRAINING PROVIDER Partner — Provides homeownership counseling and training to families referred by CHHDFC.
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Homeownership as Wealth-Building
    methodology: wealth_building_through_homeownership
    By advancing affordable homeownership for underserved populations, we produce long-term economic stability and community wealth, because homeownership enables asset accumulation and generational wealth transfer.