Horizon Development Properties Inc
98% goes to programs $0 to raise $100 Strong reserves Growing revenue
Horizon Development Properties Inc is a 501(c)(3) organization based in Charlotte, North Carolina, registered in 2001, with $84,376,456 in FY2024 revenue. CharityIndex grades it B+, and it directs about 98% of spending to programs.
400 East Blvd, Charlotte, NC, 28203 EIN 56-2246833 Since 2001
Revenue (FY2024)
$84.4M
▲ 8.8% vs prior year
Housing median: $408K
Expenses (FY2024)
$94.1M
Net assets
$122.6M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating98% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Horizon Development Properties Inc: 98% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
C+Financial health25% of the rating16 mo reserves · -12% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Horizon Development Properties Inc: 16 mo reserves · -12% margin earns a C+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Horizon Development Properties Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Horizon Development Properties Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To provide affordable housing to all qualified families.
What they do
Increase affordable housing opportunities for qualified families: we are continuously looking for additional opportunities to expand our capacity and provide additional affordable housing options for families in need.
Contact & location
- Address
- 400 East Blvd, Charlotte, NC, 28203
- City
- Charlotte
- State
- North Carolina
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $9.6M (FY2013) to $84.4M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $451.2MNet assets $122.6M
Operating margin
-11.5%
Spent more than it raised in the latest fiscal year.
Total assets
$573.7M
Total liabilities
$451.2M
Net assets
$122.6M
Salaries & benefits
$7.0M
7% of expenses
Board members
7
7 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $84,376,456▲8.8% | $94,117,044▲30.9% | $122,569,221▲21.6% | $573,740,246▲1.4% | 990 |
| 2023 | $77,541,860▲57.2% | $71,907,736▲24.1% | $100,823,478▲79.0% | $565,595,319▲7.0% | 990 |
| 2022 | $49,320,137▲12.3% | $57,949,705▲16.3% | $56,329,091▲30.4% | $528,761,139▲25.6% | 990 |
| 2021 | $43,904,469▲14.0% | $49,840,565▲4.0% | $43,192,170▲37.3% | $420,836,852▲42.7% | 990 |
| 2020 | $38,501,606▼0.9% | $47,937,045▲7.6% | $31,448,489▼0.7% | $294,872,530▲17.3% | 990 |
| 2019 | $38,838,190▲1371% | $44,560,195▲8.2% | $31,678,515▼6.8% | $251,346,379▼0.1% | 990 |
| 2018 | -$3,055,197▼109% | $41,178,375▼23.2% | $34,002,005▼56.5% | $251,714,409▼1.7% | 990 |
| 2017 | $34,172,568▲19.3% | $53,603,370▲325% | $78,134,386▲62.7% | $256,024,196▲90.5% | 990 |
| 2016 | $28,656,051▲155% | $12,620,420▲15.7% | $48,016,074▲344% | $134,413,214▲74.5% | 990 |
| 2014 | $11,256,070▲16.9% | $10,904,344▲11.2% | $10,811,461▼13.5% | $77,030,377▲12.7% | 990 |
| 2013 | $9,632,636 | $9,809,317▼2.4% | $12,494,120▲28.8% | $68,326,906▲16.5% | 990 |
| 2012 | — | $10,051,206▲17.4% | $9,697,277▲65.0% | $58,670,590▲39.3% | 990 |
| 2011 | — | $8,557,963 | $5,876,610 | $42,105,145 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Allan Rivera | Evp, Information Technology | 1 | — |
| Allen Gong | Evp, Real Estate Development | 1 | — |
| Angela Ambroise | Vice Chair Commissioner | 1 | — |
| Antoine Dennard | Commissioner | 1 | — |
| Cheron Porter | Evp, Corporate Communications | 1 | — |
| Eric Scott | Coo | 1 | — |
| Erin Smith | Commissioner - Part Year | 1 | — |
| Esezele Payne | Commissioner | 1 | — |
| Fatina Allen | Chair Commissioner | 1 | — |
| Fulton Meachem | Ceo | 1 | — |
| Harriett Huell | Evp, Legal - Part Year | 1 | — |
| Heather Franklin | Cfo | 1 | — |
| John Miller | Svp, Construction | 40 | — |
| Kenya Lewis | Interim Coo | 1 | — |
| Kimberlie Smith | Evp, Blue Horizon | 1 | — |
| Linda Ashendorf | Commissioner | 1 | — |
| Maurice Robinson | Commissioner | 1 | — |
| Michael Kennerly | Commissioner | 1 | — |
| Nina Pineda | Svp, Real Estate Management | 40 | — |
| Ray Mckinnon | Chair Commissioner - Part Year | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| 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 |
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Frequently asked questions
- Is Horizon Development Properties Inc a legitimate nonprofit?
- Yes. Horizon Development Properties Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 56-2246833, based in Charlotte, North Carolina. Donations are tax-deductible.
- What is Horizon Development Properties Inc's EIN?
- Horizon Development Properties Inc's Employer Identification Number (EIN) is 56-2246833.
- How much revenue does Horizon Development Properties Inc report?
- Horizon Development Properties Inc reported $84,376,456 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Horizon Development Properties Inc's spending goes to programs?
- Horizon Development Properties Inc spends about 98% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Horizon Development Properties Inc have?
- CharityIndex grades Horizon Development Properties Inc B+, based on program efficiency and fundraising cost.
- How much does Horizon Development Properties Inc's highest-paid employee make?
- The highest reported compensation on Horizon Development Properties Inc's latest Form 990 is $0, paid to Allan Rivera (Evp, Information Technology).
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Data for Horizon Development Properties Inc (EIN 56-2246833) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.