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Nonprofiteer
← THRESHOLD HOUSING DEVELOPMENT INC

Form 990 for tax year 2022

Filed by THRESHOLD HOUSING DEVELOPMENT INC.

Totals

Total revenue
$623,932
Total expenses
$670,739
Contributions and grants received
$289,539
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$334,393
Total assets, end of year
$208,024
Total liabilities, end of year
$171,321
Net assets or fund balances, end of year
$36,703
Program services expenses (Part IX)
$600,144
Management and general expenses
$70,595
Fundraising expenses
$0
Program service expenses (Part III)
$600,144

Program services were 89.5% 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)

    $289,539

  • 6a · Gross rents

    real property $9,625

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $9,625

  • 6d · Net rental income or loss

    total $9,625 · excluded $9,625

  • 10a · Gross sales of inventory

    $312,177

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $312,177 · related or exempt $312,177

  • 11a · Other revenue: CONTRACT AGREEMENT

    total $151,114 · related or exempt $151,114

  • 11b · Other revenue: MISCELLANEOUS

    total $500 · excluded $500

  • 11c · Other revenue: INTEREST INCOME

    total $19 · excluded $19

  • 11d · All other revenue

    total -$139,042 · related or exempt -$139,042

  • 11e · Other revenue, total

    $12,591

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $134,772 · program services $110,981 · management and general $23,791

  • 9 · Other employee benefits

    total $55,586 · program services $47,422 · management and general $8,164

  • 11g · Fees: other

    total $11,900 · program services $8,925 · management and general $2,975

  • 12 · Advertising and promotion

    total $4,134 · program services $3,310 · management and general $824

  • 13 · Office expenses

    total $1,936 · program services $1,486 · management and general $450

  • 16 · Occupancy

    total $10,174 · program services $8,468 · management and general $1,706

  • 17 · Travel

    total $4,909 · program services $4,104 · management and general $805

  • 20 · Interest

    total $8,338 · management and general $8,338

  • 22 · Depreciation, depletion and amortization

    total $3,438 · management and general $3,438

  • 23 · Insurance

    total $15,376 · program services $11,770 · management and general $3,606

  • 24a · Other expenses: DEVELOPMENT COSTS

    total $162,533 · program services $154,753 · management and general $7,780

  • 24b · Other expenses: CAPITALIZED COSTS

    total $111,612 · program services $111,612

  • 24c · Other expenses: OTHER

    total $67,498 · program services $67,142 · management and general $356

  • 24d · Other expenses: CONTRACT SERVICES

    total $56,198 · program services $51,120 · management and general $5,078

  • 24e · All other expenses

    total $22,335 · program services $19,051 · management and general $3,284

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $111,527 · end of year $49,702

  • 4 · Accounts receivable

    beginning of year $122,699 · end of year $25,541

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,218 · end of year $3,541

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

    $232,242

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

    $105,515

  • 10c · Land, buildings and equipment, net

    beginning of year $130,165 · end of year $126,727

  • 15 · Other assets

    beginning of year $114,126 · end of year $2,513

  • 17 · Accounts payable and accrued expenses

    beginning of year $227,908 · end of year $12,903

  • 19 · Deferred revenue

    beginning of year $21,317 · end of year $8,418

  • 25 · Other liabilities

    beginning of year $150,000 · end of year $150,000

  • 27 · Net assets without donor restrictions

    beginning of year $83,510 · end of year $36,703

Mission and programs · 2022

Mission

THRESHOLD'S MISSION IS TO DEVELOP, PROMOTE, ENCOURAGE, OR ENHANCE THE LEVEL OF SELF-SUFFICIENCY OF LOW INCOME, DISABLED, OR ELDERLY INDIVIDUALS AND FAMILIES THROUGH DEVELOPING AFFORDABLE, EFFICIENT HOUSING UNITS FOR BOTH RENTAL AND OWNERSHIP BY LOW-INCOME INDIVIDUALS AND FAMILIES.

Activities or mission (Part I)

TO ACQUIRE, DEVELOP, MAINTAIN AND MANAGE REAL AND PERSONAL PROPERTY

  • THRESHOLD HOUSING DEVELOPMENT'S (THD) PURPOSE IS TO ACQUIRE, DEVELOP, HOLD, OPERATE, MAINTAIN, AND MANAGE REAL AND PERSONAL PROPERTY.THD'S MISSION IS TO DEVELOP, PROMOTE, ENCOURAGE OR ENHANCE THE LEVEL OF SELF-SUFFICIENCY OF LOW INCOME, DISABLED, OR ELDERLY INDIVIDUALS AND FAMILIES THROUGH DEVELOPING AFFORDABLE, EFFICIENT HOUSING UNITS, FOR BOTH RENTAL AND OWNERSHIP BY LOW INCOME FAMILIES OR INDIVIDUALS. THRESHOLD ACCOMPLISHES ITS MISSION THROUGH VARIOUS METHODS. OVER THE LAST 25 PLUS YEARS, THRESHOLD HAS ESTABLISHED MANY INNOVATIVE PARTNERSHIPS THAT HAVE LED TO THE DEVELOPMENT OF MORE THAN 150 NEW HOMES AND 150 REHABILITATED HOMES THROUGHOUT FAYETTE, GREENE, AND WASHINGTON COUNTIES.CURRENTLY, THRESHOLD ACCOMPLISHES ITS HOUSING DEVELOPMENT GOALS THROUGH THREE DIFFERENT PROGRAMS: NEW CONSTRUCTION, REHABILITATION FOR RESALE AND THE USDA RURAL DEVELOPMENT SELF-HELP PROGRAM.FOR REHABILITATION FOR RESALE: THRESHOLD PURCHASES AND REHABILITATES HOMES THAT ARE SOLD TO FAMILIES AT OR BELOW 80% OF AREA MEDIAN INCOME. PARTICIPATING FAMILIES MUST HAVE 3% OF THE TOTAL PURCHASE PRICE AT CLOSING AND MUST SECURE A MORTGAGE LOAN FOR 80% OF THE COST OF THE HOME. THE OTHER 17% OF THE PURCHASE PRICE AND ALL OF THE CLOSING COSTS ARE PROVIDED TO THE FAMILY THROUGH A DEFERRED SECOND MORTGAGE. THRESHOLD HAS PRODUCED THIS TYPE OF HOUSING USING VARIOUS FUNDING TYPES. MOST RECENTLY, THRESHOLD HAS PERFORMED THIS PROGRAM RECEIVING HOME INVESTMENT PARTNERSHIPS PROGRAM FUNDS SUBCONTRACTED THROUGH LOCAL REDEVELOPMENT AUTHORITIES.FOR THE USDA RURAL DEVELOPMENT SELF-HELP PROGRAM: PARTICIPATING FAMILIES ARE APPROVED FOR A MORTGAGE THROUGH USDA RURAL DEVELOPMENT. THE MORTGAGE WILL THEN BE USED TO PURCHASE A HOUSE AND NECESSARY MATERIALS TO REHAB THE HOUSE. IT IS ANTICIPATED THAT THE AMOUNT OF TIME NEEDED TO REHAB THE HOUSE WILL BE APPROXIMATELY 120 HOURS. THRESHOLD WILL PROVIDE AN EXPERIENCED CONSTRUCTION SUPERVISOR TO INSTRUCT THE HOMEOWNER IN THE SKILLS NEEDED TO PERFORM THE WORK AND TO PROVIDE ONGOING SUPPORT AND GUIDANCE.

    Expenses $600,144 · Revenue $324,249

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

Listed in Part VII

  • TOM ROCKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRENT FILAK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOAN TRACY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMES KRIVANEK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JESSICA HAJEK-BATES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BOB BAKOS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID CALVARIO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEBBY POTKUL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KIM HAWK

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    3

  • TAMMY KNOUSE

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • DARLENE BIGLER

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • JEFF FONDELIER

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

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.

Provenance

Return type
form_990
Tax year
2022
Filed
31 January 2024
IRS schema version
2022v5.0
Source object
202440329349301549

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