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← HOUSING RESOURCES OF WESTERN COLORADO

Form 990 for tax year 2024

Filed by HOUSING RESOURCES OF WESTERN COLORADO.

Totals

Total revenue
$7,914,769
Total expenses
$7,493,247
Contributions and grants received
$5,540,906
Grants paid
$8,543
Program service revenue
$2,287,918
Investment income
$85,945
Other revenue
$0
Total assets, end of year
$15,485,216
Total liabilities, end of year
$5,762,846
Net assets or fund balances, end of year
$9,722,370
Program services expenses (Part IX)
$6,568,102
Management and general expenses
$795,778
Fundraising expenses
$129,367
Program service expenses (Part III)
$6,568,102

Program services were 87.7% 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)

    $5,001,810

  • 1f · All other contributions, gifts and grants

    $539,096

  • 2a · Program service revenue: RENTAL INCOME

    total $2,148,261 · related or exempt $2,081,156 · unrelated business $67,105

  • 2b · Program service revenue: CAM INCOME

    total $44,447 · related or exempt $44,447

  • 2c · Program service revenue: MANAGEMENT FEES

    total $600 · related or exempt $600

  • 2f · All other program service revenue

    total $94,610 · related or exempt $94,610

  • 3 · Investment income

    total $19,865 · excluded $19,865

  • 7a · Gross sales of assets other than inventory

    other assets $68,810

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

    other assets $2,730

  • 7c · Gain or loss

    other assets $66,080

  • 7d · Net gain or loss

    total $66,080 · excluded $66,080

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,543 · program services $8,543

  • 5 · Compensation of officers, directors and key employees

    total $204,345 · program services $151,186 · management and general $47,014 · fundraising $6,145

  • 7 · Other salaries and wages

    total $2,440,998 · program services $2,100,556 · management and general $265,951 · fundraising $74,491

  • 8 · Pension plan contributions

    total $46,933 · program services $40,399 · management and general $5,060 · fundraising $1,474

  • 9 · Other employee benefits

    total $597,517 · program services $508,577 · management and general $70,179 · fundraising $18,761

  • 10 · Payroll taxes

    total $206,270 · program services $174,950 · management and general $24,863 · fundraising $6,457

  • 11b · Fees: legal

    total $4,106 · program services $2,200 · management and general $1,906

  • 11c · Fees: accounting

    total $194,731 · program services $104,322 · management and general $90,409

  • 11g · Fees: other

    total $85,370 · program services $34,325 · management and general $51,045

  • 12 · Advertising and promotion

    total $23,860 · program services $4,194 · management and general $6,262 · fundraising $13,404

  • 13 · Office expenses

    total $249,333 · program services $102,297 · management and general $142,839 · fundraising $4,197

  • 16 · Occupancy

    total $452,648 · program services $452,648

  • 17 · Travel

    total $120,753 · program services $119,279 · management and general $634 · fundraising $840

  • 20 · Interest

    total $97,873 · program services $97,873

  • 22 · Depreciation, depletion and amortization

    total $471,910 · program services $446,128 · management and general $22,434 · fundraising $3,348

  • 23 · Insurance

    total $263,475 · program services $237,360 · management and general $26,115

  • 24a · Other expenses: PROGRAM MATERIALS AND S

    total $1,523,524 · program services $1,502,179 · management and general $21,345

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $460,557 · program services $455,880 · management and general $4,677

  • 24e · All other expenses

    total $40,501 · program services $25,206 · management and general $15,045 · fundraising $250

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,505,933 · end of year $2,266,889

  • 3 · Pledges and grants receivable

    beginning of year $976,008 · end of year $628,097

  • 4 · Accounts receivable

    beginning of year $60,411 · end of year $581,222

  • 7 · Other notes and loans receivable

    beginning of year $1,981,720 · end of year $2,656,773

  • 8 · Inventories for sale or use

    beginning of year $220,510 · end of year $151,803

  • 9 · Prepaid expenses and deferred charges

    beginning of year $84,450 · end of year $92,765

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

    $15,212,220

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

    $9,599,779

  • 10c · Land, buildings and equipment, net

    beginning of year $5,976,214 · end of year $5,612,441

  • 15 · Other assets

    beginning of year $1,416,136 · end of year $3,495,226

  • 17 · Accounts payable and accrued expenses

    beginning of year $807,800 · end of year $506,605

  • 19 · Deferred revenue

    beginning of year $235,064 · end of year $422,803

  • 21 · Escrow or custodial account liability

    beginning of year $134,965 · end of year $2,642

  • 23 · Secured mortgages and notes payable

    beginning of year $2,656,663 · end of year $4,541,777

  • 25 · Other liabilities

    beginning of year $86,042 · end of year $289,019

  • 27 · Net assets without donor restrictions

    beginning of year $3,292,813 · end of year $5,052,455

  • 28 · Net assets with donor restrictions

    beginning of year $6,008,035 · end of year $4,669,915

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE HOUSING AND TO PROMOTE THE WISE AND SUSTAINABLE USE OF THE EARTH'S RESOURCES.

  • WEATHERIZATION PROVIDES ENERGY EFFICIENCY IMPROVEMENTS TO LOW INCOME HOUSEHOLDS, AS WELL AS EMERGENCY NO-HEAT AND OTHER CRISIS REPAIRS. THE TEAM IMPROVES ABOUT 275 HOMES A YEAR AND ACHIEVES A 35% AVERAGE IMPROVEMENT ON THE AIR LEAKAGE FOR WEATHERIZED HOMES. SINCE 1995, WE HAVE WEATHERIZED ABOUT 7,750 HOMES AND THE AVERAGE INCOME OF A WEATHERIZATION CLIENT IS ABOUT $20,000 ANNUALLY.

    Expenses $3,643,108

  • RENTAL PROPERTY MANAGEMENT OWNS AND MANAGES 181 UNITS OF AFFORDABLE RENTAL HOUSING IN MESA COUNTY AND WORKS WITH A VARIETY OF FUNDING SOURCES TO HOLD RENTS WELL UNDER MARKET RATE. OUR PROPERTIES ARE HOME TO FAMILIES RANGING FROM EXTREMELY LOW INCOME TO MODEST INCOME AND WE TAKE PRIDE IN MAINTAINING THE HOMES TO HIGH STANDARDS.

    Expenses $1,942,566 · Revenue $2,126,203

  • LENDING PROVIDES LOANS FOR BOTH HOME IMPROVEMENT AND HOME PURCHASE WITH LOW COSTS AND FLEXIBLE TERMS. THE LOANS ARE COMBINED WITH COACHING FROM THE HOUSING COUNSELING TEAM AS WELL AS CONSTRUCTION MANAGEMENT SERVICES. WE HAVE MADE ALMOST 400 HOME IMPROVEMENT LOANS SINCE 1991. OUR DOWNPAYMENT ASSISTANCE LOAN PROGRAM WAS JUST LAUNCHED IN JANUARY 2024 AND SINCE THEN HAS MADE 42 HOME PURCHASE ASSISTANCE LOANS.

    Expenses $363,305

  • HOUSING COUNSELING AND EDUCATION PROVIDES FREE INDIVIDUAL COACHING AND GROUP CLASSES ON ALL HOUSING-RELATED TOPICS, INCLUDING PRE-PURCHASE, FORECLOSURE PREVENTION, RENTAL, EVICTION PREVENTION, AND REVERSE MORTGAGE COUNSELING. THE HUD-CERTIFIED COUNSELORS PROVIDE MORE THAN 500 INDIVIDUAL SESSIONS A YEAR. WE TEACH THE 8-HOUR HOMEBUYER EDUCATION CLASS TO ALMOST 1,000 HOUSEHOLDS A YEAR AND PROVIDE ADDITIONAL WORKSHOPS ON TOPICS SUCH AS FINANCIAL FITNESS AND RENTER EDUCATION. HOUSING DEVELOPMENT ADDS TO THE INVENTORY OF AFFORDABLE HOMES IN OUR REGION THROUGH VARIOUS STRATEGIES INCLUDING LAND DEVELOPMENT, CONSTRUCTION, AND REHABILITATION. THE TEAM IS CURRENTLY WORKING ON FIVE FOR-SALE PROJECTS IN MESA, MONTROSE AND GARFIELD COUNTIES AS WELL AS A LARGE AFFORDABLE RENTAL PROJECT IN CLIFTON. OUR WORK HAS CREATED MORE THAN 425 NEW HOMES SINCE 1997.

    Expenses $619,123 · Grants $8,543 · Revenue $94,610

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Stephanie Reecy

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jon Burnham

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Karin Walker

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joe Carter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Linda Dannenberger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ivy Williams

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Hannah Shilling

    BOARD MEMBER (AS OF MAY 2025)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Valeria Flores

    BOARD MEMBER (AS OF JAN 25)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Keith Fife

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Emilee Powell

    EXECUTIVE DIRECTOR

    Total calculated
    $122,909
    From this org
    $97,772
    From related orgs
    $0
    Other
    $25,137
    Hours/week
    38 + 2 related

  • Shawna Allen

    ACCOUNTING DIRECTOR

    Total calculated
    $69,157
    From this org
    $66,304
    From related orgs
    $0
    Other
    $2,853
    Hours/week
    38 + 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.

  • COMACT HOUSING CORPORATION

    501(C)(4) · LOW-INCOME HOUSING · CO · controlled entity

    Directly controlled by HOUSING RESOURCES OF WESTERN COLORADO

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GVAH LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · CO · income $1,335,632 · assets $3,991,929

    Directly controlled by HOUSING RESOURCES OF WESTERN COLORADO

  • GRAND VALLEY APARTMENTS LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · CO · income $473,733 · assets $947,632

    Directly controlled by HOUSING RESOURCES OF WESTERN COLORADO

  • JAYLEE PROPERTIES LLC

    RENTAL REAL ESTATE · CO · income $0 · assets $0

    Directly controlled by HOUSING RESOURCES OF WESTERN COLORADO

  • PHOENIX LLP

    REAL ESTATE RENTAL · CO · income $89,791 · assets $416,213

    Directly controlled by HOUSING RESOURCES OF WESTERN COLORADO

Provenance

Return type
form_990
Tax year
2024
Filed
3 April 2026
IRS schema version
2024v5.5
Source object
202600969349301380

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