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Nonprofiteer
← NEVADA AFFORDABLE HOUSING ASSISTANCE CORPORATION

Form 990 for tax year 2023

Filed by NEVADA AFFORDABLE HOUSING ASSISTANCE CORPORATION.

Totals

Total revenue
$37,940,575
Total expenses
$38,725,648
Contributions and grants received
$37,553,226
Grants paid
$35,078,555
Program service revenue
$252,261
Investment income
$135,088
Other revenue
$0
Total assets, end of year
$34,182,433
Total liabilities, end of year
$30,914,968
Net assets or fund balances, end of year
$3,267,465
Program services expenses (Part IX)
$35,078,555
Management and general expenses
$3,647,093
Fundraising expenses
$0
Program service expenses (Part III)
$35,078,555

Program services were 90.6% 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)

    $37,553,226

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $252,261 · related or exempt $252,261

  • 3 · Investment income

    total $135,088 · excluded $135,088

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $35,078,555 · program services $35,078,555

  • 5 · Compensation of officers, directors and key employees

    total $158,615 · management and general $158,615

  • 7 · Other salaries and wages

    total $830,436 · management and general $830,436

  • 9 · Other employee benefits

    total $70,383 · management and general $70,383

  • 10 · Payroll taxes

    total $60,636 · management and general $60,636

  • 11b · Fees: legal

    total $121,034 · management and general $121,034

  • 11c · Fees: accounting

    total $290,975 · management and general $290,975

  • 11g · Fees: other

    total $835,570 · management and general $835,570

  • 12 · Advertising and promotion

    total $98,059 · management and general $98,059

  • 13 · Office expenses

    total $32,482 · management and general $32,482

  • 14 · Information technology

    total $327,057 · management and general $327,057

  • 16 · Occupancy

    total $29,992 · management and general $29,992

  • 17 · Travel

    total $18,515 · management and general $18,515

  • 20 · Interest

    total $7,489 · management and general $7,489

  • 22 · Depreciation, depletion and amortization

    total $131,028 · management and general $131,028

  • 23 · Insurance

    total $46,490 · management and general $46,490

  • 24a · Other expenses: BUSINESS PARTNERS

    total $400,000 · management and general $400,000

  • 24b · Other expenses: RECORDING FEES

    total $114,278 · management and general $114,278

  • 24c · Other expenses: STATISTICAL DATA

    total $29,953 · management and general $29,953

  • 24d · Other expenses: FILE INTAKE COSTS

    total $22,257 · management and general $22,257

  • 24e · All other expenses

    total $21,844 · management and general $21,844

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,787,375 · end of year $2,918,516

  • 2 · Savings and temporary cash investments

    beginning of year $6,775,260 · end of year $30,704,277

  • 9 · Prepaid expenses and deferred charges

    beginning of year $210,742 · end of year $147,812

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

    $156,142

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

    $128,305

  • 10c · Land, buildings and equipment, net

    beginning of year $69,465 · end of year $27,837

  • 15 · Other assets

    beginning of year $492,207 · end of year $383,991

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,352,188 · end of year $130,238

  • 23 · Secured mortgages and notes payable

    beginning of year $254,093 · end of year $151,774

  • 25 · Other liabilities

    beginning of year $5,676,230 · end of year $30,632,956

  • 27 · Net assets without donor restrictions

    beginning of year $4,052,538 · end of year $3,267,465

Mission and programs · 2023

Mission

THE MISSION OF NAHAC IS TO PROVIDE FUNDS, SUBSIDIES, AND/OR BENEFITS TO NEVADA HOMEOWNERS OR OTHER TARGETED GROUPS OF INDIVIDUALS WITHIN THE STATE OF NEVADA IN ORDER TO ASSIST WITH AFFORDABLE OR SUBSIDIZED SINGLE OR MULTI-FAMILY HOUSING. AT A MINIMUM, THIS WILL ENCOMPASS CONSISTENTLY DETERMINING WHAT THE SPECIFIC NEEDS OF NEVADA HOMEOWNERS ARE, AND ANY OTHER APPLICABLE NEEDS OF THE INDIVIDUAL COMMUNITIES THEREIN. LIAISONS WITH PUBLIC AND PRIVATE PARTNERS, AS APPLICABLE, WILL BE CONSISTENTLY SOUGHT TO ACHIEVE THIS OVERARCHING OBJECTIVE. THE NAHAC QUALIFIED AND TRAINED TEAM OF PROFESSIONALS WILL PROVIDE THIS SERVICE IN AN EFFICIENT AND EFFECTIVE MANNER, MAKING THE NEEDS OF ELIGIBLE NEVADA HOMEOWNERS ITS TOP DAILY PRIORITY.

  • UNEMPLOYMENT MORTGAGE ASSISTANCE PROGRAM (UMA)- PROVIDES TEMPORARY FINANCIAL ASSISTANCE TO ELIGIBLE NEVADA HOMEOWNERS WHO WISH TO REMAIN IN THEIR HOMES BUT HAVE SUFFERED A LOSS OF INCOME DUE TO UNEMPLOYMENT OR UNDEREMPLOYMENT. AT LEAST ONE HOMEOWNER MUST HAVE EXPERIENCED INVOLUNTARY JOB LOSS DUE TO THE PANDEMIC THAT OCCURRED ON OR AFTER JANUARY 21, 2020 AND MUST BE UNEMPLOYED AT TIME OF THE APPLICATION REVIEW. THE PROGRAM WILL ASSIST THE HOUSEHOLD WITH UP TO TWELVE (12) MONTHS OF FORWARD PAYMENTS UNTIL THE HOMEOWNER REGAINS EMPLOYMENT. THE ASSISTANCE WILL ALSO INCLUDE REINSTATEMENT OF THE DELINQUENT FIRST MORTGAGE LOAN, NONESCROWED TAXES, HOA FEES, LOT RENT, AND HOMEOWNERS INSURANCE. MORTGAGE REINSTATEMENT ASSISTANCE PROGRAM (MRAP)- PROVIDES REINSTATEMENT ASSISTANCE TO QUALIFIED ELIGIBLE NEVADA HOMEOWNERS IN DEFAULT WHO HAVE EXPERIENCE A FINANCIAL HARDSHIP DUE TO THE PANDEMIC ON OR AFTER JANUARY 21, 2020. QUALIFIED HOMEOWNERS WILL RECEIVE ASSISTANCE WITH REINSTATEMENT OF THE HOMEOWNER'S MORTGAGE AND WILL INCLUDE ANY HOUSEHOLD RELATED EXPENSES SUCH AS PROPERTY TAXES, HOMEOWNER'S INSURANCE, HOA FEES, AND LOT RENT. PARTIAL CLAIM OR DEFERRED BALANCE PROGRAM - PROVIDES ASSISTANCE TO NEVADA HOMEOWNERS THAT RECEIVED A COVID-RELATED PARTIAL CLAIM OR DEFERMENT FROM THEIR MORTGAGE SERVICER THAT OCCURED ON OR AFTER JANUARY 21, 2020.

    Expenses $35,078,555 · Grants $35,078,555 · Revenue $252,261

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Verise Campbell

    CEO/COO

    Total calculated
    $153,314
    From this org
    $141,752
    From related orgs
    $0
    Other
    $11,562
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,752
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,562
    Nontaxable benefits
    not reported
    Filer's total
    $153,314

  • Sharath Chandra

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeneeah Nia M Girma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jim Hastings

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Rande Johnsen

    VP & VC

    Total calculated
    $0
    Hours/week
    2

  • Timothy Whitwright

    PRESIDENT &

    Total calculated
    $0
    Hours/week
    5

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 January 2025
IRS schema version
2023v6.0
Source object
202530159349301778

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