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Nonprofiteer
← NORTHERN HOMES COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by NORTHERN HOMES COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,647,392
Total expenses
$1,619,675
Contributions and grants received
$319,656
Grants paid
$0
Program service revenue
$1,355,072
Investment income
-$27,941
Other revenue
$605
Total assets, end of year
$5,333,546
Total liabilities, end of year
$3,053,269
Net assets or fund balances, end of year
$2,280,277
Program services expenses (Part IX)
$1,443,395
Management and general expenses
$176,280
Fundraising expenses
$0
Program service expenses (Part III)
$1,443,395

Program services were 89.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $151,596

  • 1f · All other contributions, gifts and grants

    $168,060

  • 2a · Program service revenue: CONSTRUCTION INCOME/OTHER

    total $759,284 · related or exempt $759,284

  • 2b · Program service revenue: RENTAL REVENUE

    total $368,014 · related or exempt $368,014

  • 2c · Program service revenue: SITE MANAGEMENT FEES

    total $222,704 · related or exempt $222,704

  • 2d · Program service revenue: GROUND LEASE INCOME

    total $5,070 · related or exempt $5,070

  • 3 · Investment income

    total $1,827 · excluded $1,827

  • 7a · Gross sales of assets other than inventory

    other assets $242,572

  • 7b · Less cost or other basis and sales expenses

    other assets $272,340

  • 7c · Gain or loss

    other assets -$29,768

  • 7d · Net gain or loss

    total -$29,768 · related or exempt -$29,768

  • 11a · Other revenue: OTHER INCOME

    total $605 · related or exempt $605

  • 11e · Other revenue, total

    $605

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $108,649 · program services $84,247 · management and general $24,402

  • 7 · Other salaries and wages

    total $330,477 · program services $299,749 · management and general $30,728

  • 8 · Pension plan contributions

    total $8,891 · program services $2,984 · management and general $5,907

  • 9 · Other employee benefits

    total $43,300 · program services $14,530 · management and general $28,770

  • 10 · Payroll taxes

    total $29,961 · program services $10,054 · management and general $19,907

  • 11a · Fees: management

    total $32,855 · program services $28,305 · management and general $4,550

  • 11b · Fees: legal

    total $1,972 · program services $1,699 · management and general $273

  • 11c · Fees: accounting

    total $29,399 · program services $25,328 · management and general $4,071

  • 11g · Fees: other

    total $52,799 · program services $45,488 · management and general $7,311

  • 12 · Advertising and promotion

    total $6,816 · program services $3,750 · management and general $3,066

  • 13 · Office expenses

    total $7,661 · program services $3,737 · management and general $3,924

  • 16 · Occupancy

    total $158,777 · program services $148,002 · management and general $10,775

  • 17 · Travel

    total $13,201 · program services $7,116 · management and general $6,085

  • 19 · Conferences, conventions and meetings

    total $1,736 · program services $525 · management and general $1,211

  • 20 · Interest

    total $41,207 · program services $29,085 · management and general $12,122

  • 22 · Depreciation, depletion and amortization

    total $94,348 · program services $94,348

  • 23 · Insurance

    total $48,387 · program services $38,717 · management and general $9,670

  • 24a · Other expenses: REHABILITATION/CONSTRUC

    total $600,595 · program services $600,595

  • 24b · Other expenses: DUES & SUBSCRIPTIONS, B

    total $7,424 · program services $3,916 · management and general $3,508

  • 24c · Other expenses: BAD DEBT

    total $1,220 · program services $1,220

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $924,423 · end of year $395,771

  • 3 · Pledges and grants receivable

    beginning of year $11,617 · end of year $9,106

  • 4 · Accounts receivable

    beginning of year $23,979 · end of year $103,234

  • 7 · Other notes and loans receivable

    beginning of year $4,910 · end of year $4,910

  • 9 · Prepaid expenses and deferred charges

    beginning of year $756 · end of year $5,522

  • 10a · Land, buildings and equipment: cost or other basis

    $5,230,351

  • 10b · Land, buildings and equipment: accumulated depreciation

    $641,942

  • 10c · Land, buildings and equipment, net

    beginning of year $3,782,289 · end of year $4,588,409

  • 15 · Other assets

    beginning of year $380,969 · end of year $226,594

  • 17 · Accounts payable and accrued expenses

    beginning of year $66,306 · end of year $90,848

  • 19 · Deferred revenue

    beginning of year $4,139 · end of year $3,099

  • 23 · Secured mortgages and notes payable

    beginning of year $2,589,099 · end of year $2,636,197

  • 25 · Other liabilities

    beginning of year $216,839 · end of year $323,125

  • 27 · Net assets without donor restrictions

    beginning of year $443,575 · end of year $364,792

  • 28 · Net assets with donor restrictions

    beginning of year $1,808,985 · end of year $1,915,485

Mission and programs · 2023

Mission

TO CREATE AND PRESERVE QUALITY AFFORDABLE HOUSING OPTIONS FOR NORTHERN MICHIGAN RESIDENTS THROUGH EDUCATION, DEVELOPMENT, AND PARTNERING WITH LOCAL COMMUNITIES.

Activities or mission (Part I)

TO CREATE AND PRESERVE QUALITY AFFORDABLE HOUSING OPTIONS FOR NORTHERN MICHIGAN RESIDENTS.

  • THE ORGANIZATION PROVIDES THE DEVELOPMENT OF MULTI AND SINGLE FAMILY AFFORDABLE HOUSING OPPORTUNITIES.

    Expenses $880,414 · Revenue $1,103,205

  • THE ORGANIZATION MANAGES MULTI AND SINGLE FAMILY AFFORDABLE HOUSING PROJECTS.

    Expenses $496,844 · Revenue $222,704

  • THE ORGANIZATION PROVIDES HOMEBUYER EDUCATION AND FINANCIAL COUNSELING.

    Expenses $66,137

As filed on the 2023 return.

Listed in Part VII

  • Sue Cleary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tom Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Sean Baron

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Denny Keiser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Shannon Fender

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Bill Lorne

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mel Matchett

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • David White

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2.5 + 1 related

  • Jane MacKenzie

    EXECUTIVE DIRECTOR

    Total calculated
    $108,649
    From this org
    $83,625
    From related orgs
    $0
    Other
    $25,024
    Hours/week
    40 + 2 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MM NONPROFIT HOUSING CORPORATION

    501(C)(3) · DEVELOPMENT & MANAGEMENT OF LOW-INCOME HOUSING · MI · controlled entity

    Directly controlled by NORTHERN HOMES COMMUNITY DEVELOPMENT CORPORATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NORTHERN HOMES LDHA LP

    RELATED · RENTAL REAL ESTATE · MI · 99.99% owned · share of income -$7,418 · share of assets $2,198,326

    Directly controlled by NORTHERN HOMES COMMUNITY DEVELOPMENT CORPORATION

  • MV II LDHA LP

    RELATED · RENTAL REAL ESTATE · MI · 99.99% owned · share of income -$78,959 · share of assets $2,121,457

    Directly controlled by NORTHERN HOMES COMMUNITY DEVELOPMENT CORPORATION

  • BELLAIRE SENIOR LDHA LP

    RELATED · RENTAL REAL ESTATE · MI · 99.99% owned · share of income $2,991 · share of assets $420,047

    Directly controlled by NORTHERN HOMES COMMUNITY DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413209349301111

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