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Nonprofiteer
← THE HOUSING FUND INC

Form 990 for tax year 2022

Filed by THE HOUSING FUND INC.

Totals

Total revenue
$10,564,723
Total expenses
$4,174,620
Contributions and grants received
$8,598,842
Grants paid
$486,143
Program service revenue
$1,518,017
Investment income
$447,864
Other revenue
$0
Total assets, end of year
$48,556,730
Total liabilities, end of year
$27,483,311
Net assets or fund balances, end of year
$21,073,419
Program services expenses (Part IX)
$3,214,565
Management and general expenses
$960,055
Fundraising expenses
$0
Program service expenses (Part III)
$3,214,565

Program services were 77.0% 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)

    $1,061,249

  • 1f · All other contributions, gifts and grants

    $7,537,593

  • 2a · Program service revenue: DEVELOPMENT LOANS INTEREST

    total $647,860 · related or exempt $647,860

  • 2b · Program service revenue: SERVICE FEES & MISC

    total $463,583 · related or exempt $463,583

  • 2c · Program service revenue: DOWNPAYMENT ASSISTANCE LOANS INTE

    total $303,140 · related or exempt $303,140

  • 2d · Program service revenue: RENTAL INCOME

    total $77,808 · related or exempt $5,735 · unrelated business $72,073

  • 2e · Program service revenue: FLOOD ASSISTANCE LOAN INTEREST

    total $25,626 · related or exempt $25,626

  • 3 · Investment income

    total $447,882 · excluded $447,882

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

    other assets $18

  • 7c · Gain or loss

    other assets -$18

  • 7d · Net gain or loss

    total -$18 · related or exempt -$18

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $124,826 · program services $124,826

  • 2 · Grants to domestic individuals

    total $361,317 · program services $361,317

  • 11b · Fees: legal

    total $36,507 · program services $31,854 · management and general $4,653

  • 11c · Fees: accounting

    total $29,970 · management and general $29,970

  • 11g · Fees: other

    total $14,500 · management and general $14,500

  • 12 · Advertising and promotion

    total $97,466 · program services $266 · management and general $97,200

  • 13 · Office expenses

    total $190,043 · program services $109,392 · management and general $80,651

  • 14 · Information technology

    total $53,985 · program services $31,075 · management and general $22,910

  • 16 · Occupancy

    total $79,035 · program services $72,287 · management and general $6,748

  • 17 · Travel

    total $39,745 · program services $22,878 · management and general $16,867

  • 20 · Interest

    total $636,493 · program services $636,493

  • 22 · Depreciation, depletion and amortization

    total $68,827 · program services $52,597 · management and general $16,230

  • 23 · Insurance

    total $30,951 · program services $17,816 · management and general $13,135

  • 24a · Other expenses: LEASED EMPLOYEES

    total $2,148,323 · program services $1,491,395 · management and general $656,928

  • 24b · Other expenses: CHANGE IN PROVISION FOR

    total $241,487 · program services $241,487

  • 24c · Other expenses: SERVICING FEES

    total $21,145 · program services $20,882 · management and general $263

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,225,155 · end of year $13,067,725

  • 3 · Pledges and grants receivable

    beginning of year $112,597 · end of year $22,158

  • 4 · Accounts receivable

    beginning of year $118,838 · end of year $255,873

  • 7 · Other notes and loans receivable

    beginning of year $18,316,432 · end of year $25,351,473

  • 9 · Prepaid expenses and deferred charges

    beginning of year $240,733 · end of year $30,842

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

    $2,322,922

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

    $495,178

  • 10c · Land, buildings and equipment, net

    beginning of year $1,309,694 · end of year $1,827,744

  • 12 · Investments: other securities

    beginning of year $1,893,158 · end of year $1,841,384

  • 15 · Other assets

    beginning of year $637,804 · end of year $6,159,531

  • 17 · Accounts payable and accrued expenses

    beginning of year $423,575 · end of year $860,986

  • 18 · Grants payable

    beginning of year $1,237,291 · end of year $949,497

  • 19 · Deferred revenue

    beginning of year $2,057,396 · end of year $1,197,440

  • 24 · Unsecured notes and loans payable

    beginning of year $21,235,313 · end of year $23,777,395

  • 25 · Other liabilities

    beginning of year $217,520 · end of year $697,993

  • 27 · Net assets without donor restrictions

    beginning of year $13,460,502 · end of year $15,952,143

  • 28 · Net assets with donor restrictions

    beginning of year $1,222,814 · end of year $5,121,276

Mission and programs · 2022

Mission

THE HOUSING FUND PROVIDES RESOURCES AND CREATIVE LEADERSHIP TO HELP LOW AND MODERATE INCOME INDIVIDUALS AND COMMUNITIES CREATE AND MAINTAIN AFFORDABLE AND HEALTHY PLACES TO LIVE. THE HOUSING FUND MAKES LOW INTEREST HOUSING, DEVELOPMENT AND COMMUNITY DEVELOPMENT LOANS TO INDIVIDUALS, FAMILIES AND DEVELOPERS TO ACQUIRE, CREATE AND MAINTAIN AFFORDABLE AND HEALTHY HOMES AND COMMUNITIES.

Activities or mission (Part I)

PROVIDES RESOURCES TO HELP CREATE & MAINTAIN AFFORDABLE & HEALTHY PLACES TO LIVE

  • DEVELOPMENT LOAN PROGRAMS - PROVIDES LOANS FOR DEVELOPMENT OF AFFORDABLE HOUSING IN ALL AREAS, AS WELL AS LOANS FOR COMMUNITY FACILITIES IN LOW-TO-MODERATE INCOME TRACTS. FROM INCEPTION, OVER 3,215 AFFORDABLE HOUSING UNITS HAVE BEEN CONSTRUCTED OR REHABILITATED USING FUNDS FROM THE HOUSING FUND, WITH OVER $89,474,000 LENT.

    Expenses $1,492,477 · Grants $201,729 · Revenue $673,486

  • DOWNPAYMENT ASSISTANCE PROGRAMS - HELPS LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES IN BECOMING SUCCESSFUL HOMEOWNERS BY PROVIDING DOWN PAYMENT AND CLOSING COST LOANS. ASSISTANCE IS PROVIDED ON A GRADUATED BASIS, DEPENDING ON HOUSEHOLD INCOME. FROM INCEPTION, MORE THAN 4,400 FAMILIES HAVE BEEN ASSISTED IN PURCHASING A HOME, WITH $37,600,000 LENT. IN FY 2023, OVER $5,018,000 WAS LENT AND 294 HOUSEHOLDS SERVED.

    Expenses $1,011,930 · Grants $69,229 · Revenue $303,140

  • THE HOUSING RESILIENCY FUND IS A GRANT STARTED IN FY21 TO HELP OFFSET THE RECENT PROPERTY TAX INCREASE FOR LOW- TO MODERATE-INCOME HOMEOWNERS IN NASHVILLE. THE PRIMARY OBJECTIVE OF THE HOUSING RESILIENCY FUND IS TO PRESERVE AFFORDABILITY FOR EXISTING HOMEOWNERS. DURING THE YEAR, THE HOUSING RESILIENCY FUND SUPPORTED 146 HOUSEHOLDS IN DAVIDSON COUNTY WITH $103,750 IN CURRENT YEAR DISBURSEMENTS TO SUPPORT THE FAMILIES WITH INCOMES AT 100% OR BELOW AMI. IN FY22, THF EXPANDED THE HOUSING RESILIENCY FUND TO ASSIST LANDLORDS TO HELP PREVENT THE INCREASE IN PROPERTY TAXES FROM BEING PASSED THROUGH TO THE LOW AND MODERATE INCOME TENANTS. IN FY23 THF ASSISTED 16 LANDLORDS WITH PROPERTY TAX GRANTS THAT OFFSET THE PROPERTY TAXES ON 68 UNITS HELPING 98 INDIVIDUALS STAY IN THEIR RENTALS.

    Expenses $538,410 · Grants $172,785

  • Expenses $171,748 · Grants $42,400 · Revenue $469,300

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ashley Propst

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Alberto Arechiga

    BOARD SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Tera Bloecher

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Rodrick Butler

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Ronald Crutcher

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Angela Curtis

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Jessica Farr

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Michael Frazee

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Kim Hollingshead

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Latrisha Jemison

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Douglas Lesky

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Philip McCutchan

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Keith Miles

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Lorrie Shearon

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Miquel Vega

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Richard Warren

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Derrick Williams

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Marshall Crawford

    PRESIDENT/CEO

    Total calculated
    $243,975
    From this org
    $224,941
    From related orgs
    $0
    Other
    $19,034
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,077
    Bonus
    $41,864
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $19,034
    Filer's total
    $243,975

  • David Parrish

    CHIEF FINANCIAL OFFICER

    Total calculated
    $174,716
    From this org
    $150,492
    From related orgs
    $0
    Other
    $24,224
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,767
    Bonus
    $25,725
    Other
    $0
    Deferred
    $5,113
    Nontaxable benefits
    $19,111
    Filer's total
    $174,716

  • Angela Belcher

    EVP & COO

    Total calculated
    $149,898
    From this org
    $125,670
    From related orgs
    $0
    Other
    $24,228
    Hours/week
    40

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

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.

  • LAUREL HOUSE 2001 LP

    RELATED · RENTAL REAL ESTATE · TN · 100% owned · share of income -$51,774 · share of assets $5,236,609 · general or managing partner

    Directly controlled by THE HOUSING FUND

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • LAUREL HOUSE APARTMENTS GP INC

    C · RENTAL REAL ESTATE · TN · 100% owned · share of assets $200,000

    Directly controlled by THE HOUSING FUND

Provenance

Return type
form_990
Tax year
2022
Filed
23 July 2024
IRS schema version
2022v5.0
Source object
202432059349300408

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