Heartland Mhdc Tower Corporation

Nonprofit profile at a glance

EIN
811988281
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Chicago, IL, USA
Phone
3122369673
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Coalitions

Reported finances

Revenue
$729,682
Expenses
$734,172
Assets
$2,109,500
Liabilities
$2,405,763

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • PAUL KORLAPATI (PRESIDENT)

People named in this filing

  • PAUL KORLAPATI (PRESIDENT)
  • NELSON RIVERA (DIRECTOR)
  • YANDARANDY MORALES (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Heartland mhdc tower corp is dedicated to the production of non-discriminatory affordable housing for low-income, minority people (ideally, in geographic areas of emerging job growth, or in areas that are still in the process of recovery after long periods of neglect or blight) and housing for senior citizens.

What it reported doing in 2025

Develop, own, and manage low and moderate income housing.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 84
  • Accountability: 71
  • Sustainability: 44
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.2%; rating input score 84
  • Program expense ratio: 83.8%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 14th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.6%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 2.87; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 1.14; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 84.2% of revenue deployed · 83.8% of spending went to programs
  • Governance: 2 of 4 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $615K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Operating margin scored 28/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.