NDC Housing and Economic Development Corporation (HEDC) is a 501(c)(3) charitable organization based in New York, NY, with tax-exempt status since November 1988. The organization operates as a national leader in low-income housing development and economic development initiatives, working across the United States to address housing needs and stimulate economic growth in underserved communities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$818.6M
-10.1% YoY
Annual Giving
$2.8M
+115.3% YoY
Grant Count
5
-28.6% YoY
Avg Grant Size
$564K
+201.5% YoY
Mission & Focus Areas
NDC Housing and Economic Development Corporation was organized for the following charitable purposes:
- Low-Income Housing Development: Constructing new low-income housing and developing, managing, operating, promoting, funding, and supporting existing low-income housing initiatives
- Economic Development: Stimulating economic development in economically depressed areas by working with nonprofit organizations and service providers to relieve poverty and lessen neighborhood tensions
- Lessening the Burden of Government: Partnering with units of local government to erect and maintain public buildings, monuments, and facilities; promoting social welfare through projects including public buildings and city halls, educational and medical research facilities, student housing, parking facilities, and other public infrastructure
The organization's primary NTEE classification is Urban, Community Economic Development (S31), with secondary focus on Housing Development, Construction, and Management (L20).
Grantmaking
Based on the most recent IRS Form 990 filings:
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Geographic Focus
Where this funder awards grants
NDC Housing and Economic Development Corporation operates nationally, with primary grantmaking activity concentrated in New York. The organization works across economically depressed areas throughout the United States.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $818,576,438
- Total Revenues: $113,153,472
- Total Expenses: $110,899,750
As of 2023:
- Total Assets: $910,447,137
- Total Revenues: $102,000,000
- Total Expenses: $110,000,000
Historical Context (2013):
- Total Assets: $1,274,186,183
- Total Income: $203,068,087
The organization maintains substantial assets and operates with significant annual revenues and expenses, reflecting its scale as a major player in housing and economic development.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $818,576,438 | $910,447,137 | $906,903,124 |
| Revenue | $113,153,472 | $101,514,941 | $115,628,960 |
| Expenses | $110,899,750 | $110,028,793 | $100,738,505 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $-1,181,403 | $-2,502,313 | $-2,515,552 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
Grant Size Distribution
66 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Daniel Marsh III is listed as the Principal Officer of the organization.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ADAM ENNIS | BOARD MEMBER/COO | 5.5 | — |
| BILL KING | BOARD MEMBER | 0.25 | — |
| BRENDAN MEHAFFY | BOARD MEMBER | 0.25 | — |
| BYRON BROWN | BOARD MEMBER | 0.25 | — |
| CHARLEY DEPEW | BOARD MEMBER | 3 | — |
| CHRISTOPHER SCANLON | BOARD MEMBER | 0.25 | — |
| DANIEL CHOI | CFO | 12.5 | — |
| DANIEL MARSH III | PRES/BOARD MEMBER | 4.4 | — |
| DARRON SAXON | BOARD MEMBER | 0.25 | — |
| DAVID J TREVISANI | BOARD MEMBER/VICE PRESIDENT | 10.5 | — |
| GEOFFREY PERSON | BOARD MEMBER | 0.25 | — |
| JESSICA ESKRA | BOARD MEMBER | 0.25 | — |
| JOHN MURRAY | BOARD MEMBER | 0.25 | — |
| KEITH SWENSON | BOARD MEMBER | 0.25 | — |
| KEVIN GREMSE | BOARD MEMBER | 1 | — |
| KISTY MORRIS | BOARD MEMBER | 0.25 | — |
| LARRY WEST | BOARD MEMBER | 0.25 | — |
| LISA NICHOLS | BOARD MEMBER | 0.25 | — |
| MARLO JACO | BOARD MEMBER | 0.25 | — |
| MICHAEL GRIFFIN | BOARD MEMBER | 1 | — |
| PAULA LIU | VICE PRESIDENT | 50 | — |
| RAQUEL FAVELA | BOARD MEMBER | 1 | — |
| SCOTT ANDREW | BOARD MEMBER | 0.25 | — |
| SHEILA HUMMEL | BOARD MEMBER | 0.25 | — |
| STEPHANIE DUGAN | BOARD MEMBER | 1 | — |
| THOMAS GIBNEY | BOARD MEMBER | 0.25 | — |
| TOM SCHAPPACHER | BOARD MEMBER | 0.25 | — |
| WENDY COLE | BOARD MEMBER | 0.25 | — |
| WHITNEY TRUMBLY | BOARD MEMBER | 0.25 | — |
| JENNIE VERTREES | SECRETARY | 15 | — |
Subject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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Ramsleg Foundation
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Assets
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Total Given
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Druckenmiller Foundation
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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