Date of Conferral



Doctor of Business Administration (D.B.A.)


Business Administration


Lionel S. de Souza


Identifying sustainable income streams is a challenge for affordable housing developers to achieve profitable operations. To sustain successful operations, tax credit developers often need to understand the association between subsidized rental income (SRI), nonrental income (NRI), and profitability. Framed within the supply-side and demand-side economic theories, the purpose of this correlational study was to examine the relationship between SRI, NRI, and profitability. Secondary financial data were collected from a random sample of 31 tax credit companies and public housing authorities for the year 2015 within the state of Florida. The results of the multiple regression analysis were not significant in predicting profitability in terms of return on assets and gross operating profits. The multiple regression analysis results showed that SRI and NRI were not significant predictors of profitability. It is recommended tax credit housing developers incorporate a more aggressive strategy to attract eligible supply-side tenants, which represents a more stable income stream. The implications for positive social change include the potential for profitable tax credit developers to provide affordable housing, employment, and construction activities, which would contribute to the local economy and benefit society.

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