Housing Alternatives Development Company
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Housing Alternatives Development Company (HADC) and its affiliates, through the acquisition, construction, rehabilitation, and operation of a variety of rental housing will strive to:Continued on Schedule O...
- Income
- $9.3 million
- Spending
- $7.4 million
- Spent on programs
- 87%
- Reserves
- -5.7 months of spending
- Largest source of income
- fees for its services, 80%
- Employees
- 192
- Volunteers
- 25
- Highest pay
- $367,149, ceo/president
Source: Form 990 for the year ending March 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 50 out of 100. Higher than 37% of charities in its peer group (housing, $1m to $10m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
5 of 20It owes 69% of what it owns.
Living within its means
15 of 15Income exceeded spending by 20% of income.
Income trend
15 of 15Income rose 1% on the year before.
Spending floor
15 of 1587% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending March 31, 2025, 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
18 of 253 of 3 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending March 31, 2025, 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)
- $6.4 million spent. The corporation is the sole owner/member of HADC Cloquet, LLC who owns Evergreen Knoll, a 62-unit assisted living facility for elderly in Cloquet, Minnesota. HADC Cloquet, LLC also owns Evergeen Cottages, 24 cottage style quad homes in Cloquet. Evergreen is a Senior Living Campus for adults who want to remain independent while having access to services and amenities. Their goal is to provide quality senior housing options that offer comfortable living environments, with programs and services that encourage continued independence and active retirement combined with preventative and supportive health care.Continued on Schedule O..The corporation is the sole owner/member of HADC Wadena, LLC who owns The Meadows of Wadena Senior Living, a 47-unit assisted living and 10-unit memory care facility that includes 37 apartment-style assisted living units and a 10 memory care suites for elderly in Wadena, Minnesota. The Meadows is an assisted living facility for adults who want to remain independent while having access to services and amenities. Their goal is to provide quality senior housing options that offer comfortable living environments, with programs and services that encourage continued independence and active retirement combined with preventative and supportive health care.The Corporation is the sole owner/member of HADC Services, LLC. HADC Services, LLC was formed to be a licensed home health care provider and employer of on-site personnel for the HADC Ridgeway, HADC Cloquet, and HADC Wadena projects.
Source: Form 990 for the year ending March 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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.
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.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending March 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 1991.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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.