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Hamilton County Area Neighborhood Development Inc

EIN 32-0080849 · Noblesville, IN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair51 out of 100GovernanceStrong93 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

BE A LEADER IN PROMOTING PROSPERITY AND DIVERSITY IN OUR COMMUNITIES BY PROVIDING QUALITY HOUSING SOLUTIONS.

Income
$3.0 million
Spending
$2.0 million
Spent on programs
82%
Reserves
-6.5 months of spending
Largest source of income
government grants, 59%
Employees
4
Volunteers
25

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 51 out of 100. Higher than 41% of charities in its peer group (housing, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    16 of 20

    It owes 25% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 33% of income.

  • Income trend

    5 of 15

    Income fell 15% on the year before.

  • Spending floor

    15 of 15

    82% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 93 out of 100. Higher than 57% of charities in its peer group (housing, $1m to $10m).

  • Independent board

    25 of 25

    12 of 12 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $1.6 million spent. HAMILTON COUNTY AREA NEIGHBORHOOD DEVELOPMENT, INC. (THE "CORPORATION") IS AN INDIANA NOT-FOR-PROFIT CORPORATION ORGANIZED ON JANURARY 17, 2003, FOR THE PURPOSE OF ADDRESSING THE HOUSING NEEDS OF LOW AND MODERATE INCOME INDIVIDUALS, FAMILIES, AND SENIOR CITIZENS. THE CORPORATION PROVIDES AFFORDABLE HOUSING OPTIONS THROUGH THE DEVELOPMENT OF RENTAL PROPERTIES. THE CORPORATION HAS BEEN CERTIFIED BY THE INDIANA HOUSING AND COMMUNITY DEVELOPMENT AUTHORITY ("IHCDA") AS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION ("CHDO").IN 2013, HAND FACILITATED A COMPREHENSIVE HOUSING NEEDS ASSESSMENT FOR HAMILTON COUNTY. THIS STUDY INVOLVED IN DEPTH ANALYSIS AND EXTENSIVE OUTREACH TO DEVELOP A FULL UNDERSTANDING OF PRESSING HOUSING ISSUES AND A LIST OF STRATEGIES THAT MAY WORK IN LOCAL COMMUNITIES. AS A RESULT OF THIS ANALYSIS, THE BOARD OF DIRECTORS ADOPTED A STRATEGIC PLAN THAT OUTLINES NEW GOALS AND OBJECTIVES FOR 2014-2017. THIS PLAN CALLS FOR NEW PROGRAMS TO SUPPORT LOW INCOME HOMEOWNERS WITH REPAIRS, AND FOSTER GRASSROOTS COMMUNITY BUILDING INITIATIVES. THESE EFFORTS WILL BUILD A BROADER BASE OF SUPPORT, PURSUE MORE SUSTAINABLE PARTNERSHIPS AND DELIVER A MORE COMPREHENSIVE IMPACT ON THE COMMUNITY. HAND RELIES ON EARNED DEVELOPER FEES, PUBLIC AND PRIVATE GRANTS, AND PHILANTHROPY TO FUND OPERATIONS, AND THERE IS A RENEWED FOCUS ON THE ROLE OF VOLUNTEERS TO EXPAND SERVICES ACROSS HAMILTON COUNTY.AS OF DECEMBER 31, 2024, THE CORPORATION HAD A 100% OWNERSHIP IN HAND DEVELOPMENT CORPORATION AND FOURTEEN ENTITIES ("APARTMENT COMMUNITIES"), OF WHICH THREE ARE STILL IN DEVELOPMENT:**HAND DEVELOPMENT CORP. WAS FORMED FOR THE PURPOSE OF INVESTING IN VARIOUS LIMITED PARTNERSHIPS WHICH HAVE BEEN ORGANIZED TO ACQUIRE, DEVELOP, OWN, AND OPERATE LOW-INCOME RESIDENTIAL RENTAL PROPERTIES. SUCH INVESTMENTS INCLUDE GENERAL PARTNER INTERESTS IN SPICEWOOD GARDEN APARTMENTS L.P., AND SPICEWOOD GARDEN APARTMENTS II, L.P., ENTITIES FORMED TO DEVELOP AND OPERATE SENIOR LIVING FACILITIES IN SHERIDAN, INDIANA.**HAND PLUM TREE GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO OPERATE A 6-UNIT COMMUNITY KNOWN AS PLUM TREE GARDENS, LOCATED IN NOBLESVILLE, INDIANA, WHICH PROVIDES HOUSING FOR LOW-INCOME ELDERLY PERSONS. PLUM TREE GARDENS WAS BUILT USING PROCEEDS FROM CDBG, HOME GRANTS, AND AFFORDABLE HOUSING PROGRAM ("AHP") FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS.**HAND 8TH STREET REDEVELOPMENT, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, DEVELOP, AND REHABILITATE TWO MULTIFAMILY BUILDINGS IN NOBLESVILLE, INDIANA, COLLECTIVELY REFERRED TO AS THE ROPER LOFTS. THE ROPER LOFTS CONSIST OF 8 RESIDENTIAL UNITS, 2,055 SQUARE FEET OF PUBLIC USE SPACE, AND 317.5 SQUARE FEET OF COMMERCIAL SPACE, WHICH IS RENTED BY THE CORPORATION. THE RENTAL INCOME AND EXPENSE OF THE COMMERCIAL SPACE IS ELIMINATED DURING THE CONSOLIDATION. THE ROPER LOFTS WAS REHABILITATED USING CDBG FUNDS UNDER THE NEIGHBORHOOD STABILIZATION PROGRAM ("NSP").**HAND PEBBLE BROOK GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WASORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 9-UNIT COMMUNITY KNOWN AS PEBBLE BROOK GARDENS LOCATED IN NOBLESVILLE, INDIANA, WHICH PROVIDES HOUSING FOR LOW-INCOME ELDERLY PERSONS. PEBBLE BROOK GARDENS WAS BUILT USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, AND AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS.**HAND LAKESIDE GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 5-UNIT COMMUNITY KNOWN AS LAKESIDE GARDENS LOCATED IN CICERO, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. LAKESIDE GARDENS WAS BUILT USING PROCEEDS FROM CDBG GRANTS AND AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS**HAND SPICEWOOD GARDEN PHASE 3, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE AN 8-UNIT COMMUNITY KNOWN AS SPICEWOOD GARDEN APARTMENTS PHASE 3 LOCATED IN SHERIDAN, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS. SPICEWOOD GARDEN APARTMENTS PHASE 3 WAS BUILT USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, AND AHP FUNDS FROM THE FEDERAL HOME LOANBANK OF INDIANAPOLIS.**HAND ROPER CAPSTONE, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 6-UNIT COMMUNITY KNOWN AS ROPER CAPSTONE LOCATED IN NOBLESVILLE, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME PERSONS. ROPER CAPSTONE WAS BUILT USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS, NAP TAX CREDIT EQUITY, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING. **HOME PLACE GARDENS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 10-UNIT COMMUNITY KNOWN AS HOME PLACE GARDENS LOCATED IN CARMEL, INDIANA, WHICH WILL PROVIDE HOUSING FOR LOW-INCOME PERSONS. HOME PLACE GARDENS WAS BUILT USING PROCEEDS FROM A CDBG GRANT, A HOME GRANT, AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING.**HICKORY COMMONS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, RENOVATE, AND OPERATE A 33-UNIT COMMUNITY KNOWN AS HICKORY COMMONS IN LEBANON, INDIANA. ON APRIL 9, 2018, THE CORPORATION CLOSED ON THE PURCHASE OF HICKORY COMMONS. RENOVATIONS OF HICKORY COMMONS WERE COMPLETED IN JANUARY 2021. HICKORY COMMONS WAS RENOVATED USING PROCEEDS FROM A HOME GRANT, A CDBG GRANT, AHP FUNDS FROM THE FEDERAL HOME LOAN BANK OF INDIANAPOLIS, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTIONAL FINANCING.**HAND SOUTHWOOD VILLAS, LLC, AN INDIANA LIMITED LIABILITY COMPANY, WAS ORGANIZED TO ACQUIRE, CONSTRUCT, AND OPERATE A 9-UNIT COMMUNITY KNOWN AS SOUTHWOOD VILLAS IN TIPTON, INDIANA. ON AUGUST 6, 2019, THE CORPORATION CLOSED ON THE PURCHASE OF SOUTHWOOD VILLAS. CONSTRUCTION WAS COMPLETED IN APRIL 2022. SOUTHWOOD VILLAS WAS BUILT USING PROCEEDS FROM A HOME GRANT, OTHER GRANTS FROM LOCAL SOURCES, AND CONVENTI

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 2003.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.