Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $7,186,297

• 1f · All other contributions, gifts and grants

  $3,110,055

• 1g · Noncash contributions included above

  $517,564

• 2a · Program service revenue: LOAN INTEREST AND SERVICING

  total $8,073,596 · related or exempt $8,073,596

• 2b · Program service revenue: HOME SALES, NET

  total $5,449,997 · related or exempt $5,449,997

• 2c · Program service revenue: COMMISSIONS

  total $2,833,689 · related or exempt $2,833,689

• 2d · Program service revenue: ORIGINATION FEES

  total $2,433,459 · related or exempt $2,433,459

• 2e · Program service revenue: MORTGAGE SERVICING RIGHTS

  total $710,435 · related or exempt $710,435

• 2f · All other program service revenue

  total $444,401 · related or exempt $444,401

• 3 · Investment income

  total $168,107 · excluded $168,107

• 7a · Gross sales of assets other than inventory

  other assets $435,000

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

  other assets $353,122

• 7c · Gain or loss

  other assets $81,878

• 7d · Net gain or loss

  total $81,878 · excluded $81,878

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,940,593 · program services $1,562,899 · management and general $294,331 · fundraising $83,363

• 7 · Other salaries and wages

  total $7,202,349 · program services $5,689,856 · management and general $1,080,352 · fundraising $432,141

• 8 · Pension plan contributions

  total $567,336 · program services $448,196 · management and general $85,100 · fundraising $34,040

• 9 · Other employee benefits

  total $979,640 · program services $773,916 · management and general $146,946 · fundraising $58,778

• 10 · Payroll taxes

  total $688,381 · program services $543,821 · management and general $103,257 · fundraising $41,303

• 11b · Fees: legal

  total $198,877 · program services $167,758 · management and general $20,917 · fundraising $10,202

• 11c · Fees: accounting

  total $113,409 · management and general $113,409

• 11d · Fees: lobbying

  total $35,000 · program services $35,000

• 11e · Fees: professional fundraising services

  total $46,814 · fundraising $46,814

• 11g · Fees: other

  total $576,960 · program services $237,813 · management and general $264,624 · fundraising $74,523

• 12 · Advertising and promotion

  total $227,564 · program services $87,312 · fundraising $140,252

• 13 · Office expenses

  total $444,448 · program services $175,063 · management and general $256,681 · fundraising $12,704

• 14 · Information technology

  total $664,207 · program services $198,783 · management and general $463,753 · fundraising $1,671

• 16 · Occupancy

  total $226,890 · program services $108,907 · management and general $93,025 · fundraising $24,958

• 17 · Travel

  total $108,793 · program services $29,836 · management and general $76,945 · fundraising $2,012

• 20 · Interest

  total $3,413,231 · program services $3,413,231

• 22 · Depreciation, depletion and amortization

  total $1,116,972 · program services $559,495 · management and general $557,477

• 23 · Insurance

  total $528,303 · management and general $528,303

• 24a · Other expenses: CAPITAL GRANT EXPENSE

  total $3,145,255 · program services $3,145,255

• 24b · Other expenses: CLIENT SUPPORT SERVICES

  total $910,160 · program services $910,160

• 24c · Other expenses: PROFESSIONAL DEVELOPMEN

  total $153,929 · program services $60,455 · management and general $92,409 · fundraising $1,065

• 24d · Other expenses: CARRYING COSTS AND OTHE

  total $141,469 · program services $141,469

• 24e · All other expenses

  total $614,740 · program services $614,740

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $13,137,947 · end of year $6,896,658

• 2 · Savings and temporary cash investments

  beginning of year $13,352,461 · end of year $10,037,876

• 3 · Pledges and grants receivable

  beginning of year $1,345,386 · end of year $1,348,378

• 4 · Accounts receivable

  beginning of year $2,558,477 · end of year $4,421,896

• 5 · Loans and receivables from officers and key people

  beginning of year $17,445 · end of year $15,918

• 7 · Other notes and loans receivable

  beginning of year $127,019,497 · end of year $143,708,436

• 9 · Prepaid expenses and deferred charges

  beginning of year $739,953 · end of year $710,080

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

  $20,160,138

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

  $5,102,020

• 10c · Land, buildings and equipment, net

  beginning of year $10,296,508 · end of year $15,058,118

• 11 · Investments: publicly traded securities

  end of year $1,446

• 15 · Other assets

  beginning of year $60,079,593 · end of year $59,734,786

• 17 · Accounts payable and accrued expenses

  beginning of year $4,525,484 · end of year $4,624,977

• 19 · Deferred revenue

  beginning of year $5,244,911 · end of year $3,505,565

• 21 · Escrow or custodial account liability

  beginning of year $4,586,222 · end of year $4,917,386

• 23 · Secured mortgages and notes payable

  beginning of year $96,798,376 · end of year $93,858,468

• 24 · Unsecured notes and loans payable

  beginning of year $28,421,238 · end of year $41,086,082

• 25 · Other liabilities

  beginning of year $7,815,156 · end of year $6,332,687

• 27 · Net assets without donor restrictions

  beginning of year $78,096,993 · end of year $84,791,412

• 28 · Net assets with donor restrictions

  beginning of year $3,058,887 · end of year $2,817,015

The filer's explanations (Part III)

PART I, LINE 3

THE ORGANIZATION USED AN INDEPENDENT COMPENSATION CONSULTANT TO DO A COMPENSATION STUDY FOR ITS TOP MANAGEMENT OFFICIAL. THIS WAS LAST COMPLETED DURING THE 3/31/25 FISCAL YEAR.

PART I, LINE 6

THE DIRECTOR-LEVEL INCENTIVE COMPENSATION PLAN USES A CALCULATION OF TOTAL POOL AVAILABLE FOR DISTRIBUTION TO DIRECTORS BASED ON 15% OF TOTAL SALARIES OF ALL PARTICIPANTS, SELF SUFFICIENCY RATIO (RATIO OF REVENUE/EXPENSS) ACHIEVED, AND PERCENTAGE OF SERVICE UNITS COMPLETED.

Disregarded entities

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

• HOMEWISE ORPHEUM LLC

  MIXED USE DEVELOPMENT · NM · income $51,631 · assets $3,422,858

  Directly controlled by HOMEWISE INC

• HOMEWISE RUPPE LLC

  MIXED USE DEVELOPMENT · NM · income $14,939 · assets $524,244

  Directly controlled by HOMEWISE INC

• HOMEWISE MORTGAGE LLC

  MORTGAGE LENDER · NM · income $909,555 · assets $17,907,886

  Directly controlled by HOMEWISE INC

• HOMEWISE CORONADO COMPLEX LLC

  MIXED USE DEVELOPMENT · NM · income $22,683 · assets $7,012,427

  Directly controlled by HOMEWISE INC

• BIG SKY SANTA FE LLC

  LAND FOR FUTURE DEVELOPMENT · NM · income $0 · assets $586,972

  Directly controlled by HOMEWISE INC

• BUCKMAN DEVELOPMENT LLC

  LAND FOR FUTURE DEVELOPMENT · NM · income $0 · assets $1,557,642

  Directly controlled by HOMEWISE INC

• ACCS EXCELLENCE IN EDUCATION LLC

  CHARTER SCHOOL · NM · income $0 · assets $959,671

  Directly controlled by HOMEWISE INC

• VOZ EXCELLENCE IN EDUCATION LLC

  CHARTER SCHOOL · NM · income $42,403 · assets $4,540,030

  Directly controlled by HOMEWISE INC

Related partnerships

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

• HOMEWISE LEVERAGE I LLC

  RELATED · LEVERAGE LENDER FOR NEW MARKET TAX CREDIT PROGRAM · NM · 95% owned · share of income $50,987 · share of assets $5,016,010

  Directly controlled by HOMEWISE INC