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EIN 85-0866443

Homestead Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
0
City
Lake Placid
State
New York
Year formed
2020
Most recent tax filings
2023-12-01
NTEE code, primary
L20: Housing Development, Construction, Management
Description
Homestead Development Corporation constructs affordable energy efficient housing for purchase by essential workers in the Village of Lake Placid and the town of North Elba. The company purchases vacant land, completes engineering design, prepares sites, and begins construction of an affordable housing complex in both places.
Total revenues
$930,076
2023
Total expenses
$770,077
2023
Total assets
$3,558,992
2023
Num. employees
0
2023

Program areas at Homestead Development Corporation

Purchase of vacant land, completion of engineering design, site preparation, and begin construction of affordable housing complex in Lake Placid and North Elba.

Who funds Homestead Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Adirondack FoundationFor Support of the Lake Placid Food Pantry and Thrift Shop Project$160,000
Adirondack FoundationFor the Lake Placid Food Pantry/thrift Shop Project$92,000
Adirondack FoundationFor Support Restricted To the Lake Placid Food Pantry$25,000
...and 5 more grants received

Personnel at Homestead Development Corporation

NameTitleCompensation
Whit BissellBoard Member$0
John Huttlinger, JR.Treasurer$0
Jamie RogersSecretary$0
Stephen SamaPresident$0

Financials for Homestead Development Corporation

RevenuesFYE 12/2023
Total grants, contributions, etc.$269,000
Program services$660,000
Investment income and dividends$1,076
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$930,076

Form 990s for Homestead Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-12990View PDF
2022-122024-02-21990View PDF
2022-122023-11-10990View PDF
2021-122024-02-21990View PDF
2021-122022-11-15990View PDF
...and 1 more Form 990
Data update history
February 27, 2024
Updated personnel
Identified 3 new personnel
January 2, 2024
Posted financials
Added Form 990 for fiscal year 2022
December 27, 2023
Received grants
Identified 3 new grant, including a grant for $25,000 from Cloudsplitter Foundation
August 29, 2023
Posted financials
Added Form 990EZ for fiscal year 2020
August 6, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHousing and shelter organizationsCharities
Issues
Human servicesHousing
Characteristics
Partially liquidatedState / local levelTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
70 Trillium Dr
Lake Placid, NY 12946
County
Essex County, NY
Website URL
homesteadadk.org/ 
Phone
(518) 265-7278
IRS details
EIN
85-0866443
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2020
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
L20: Housing Development, Construction, Management
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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