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Nonprofiteer
← THE HOUSING COMPANY

Form 990 for tax year 2023

Filed by THE HOUSING COMPANY.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 11 December 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$14,504,410
Total expenses
$12,594,293
Contributions and grants received
$434,130
Grants paid
$0
Program service revenue
$13,546,462
Investment income
$232,308
Other revenue
$291,510
Total assets, end of year
$55,317,305
Total liabilities, end of year
$32,856,683
Net assets or fund balances, end of year
$22,460,622
Program services expenses (Part IX)
$10,542,542
Management and general expenses
$2,051,751
Fundraising expenses
$0
Program service expenses (Part III)
$10,542,542

Program services were 83.7% 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)

    $400,000

  • 1f · All other contributions, gifts and grants

    $34,130

  • 2a · Program service revenue: Tenant Rent

    total $7,473,363 · related or exempt $7,473,363

  • 2b · Program service revenue: Housing Assistance Payments

    total $2,741,011 · related or exempt $2,741,011

  • 2c · Program service revenue: Developer Fees

    total $1,526,991 · related or exempt $1,526,991

  • 2d · Program service revenue: Property Management Services

    total $1,344,638 · related or exempt $1,343,438 · unrelated business $1,200

  • 2e · Program service revenue: Laundry and Other Income

    total $460,459 · related or exempt $460,459

  • 3 · Investment income

    total $294,248 · excluded $294,248

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

    other assets $61,940

  • 7c · Gain or loss

    other assets -$61,940

  • 7d · Net gain or loss

    total -$61,940 · excluded -$61,940

  • 11a · Other revenue: Debt Forgiveness - Housing Loan

    total $310,605 · related or exempt $310,605

  • 11b · Other revenue: Subsidiary Income (Loss)

    total -$19,095 · related or exempt -$19,095

  • 11e · Other revenue, total

    $291,510

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $204,861 · management and general $204,861

  • 7 · Other salaries and wages

    total $2,329,547 · program services $1,298,892 · management and general $1,030,655

  • 8 · Pension plan contributions

    total $18,241 · program services $18,241

  • 9 · Other employee benefits

    total $477,510 · program services $181,869 · management and general $295,641

  • 10 · Payroll taxes

    total $194,683 · program services $101,578 · management and general $93,105

  • 11b · Fees: legal

    total $41,148 · program services $29,802 · management and general $11,346

  • 11c · Fees: accounting

    total $131,436 · program services $10,323 · management and general $121,113

  • 11g · Fees: other

    total $1,001,129 · program services $954,672 · management and general $46,457

  • 12 · Advertising and promotion

    total $366 · program services $366

  • 13 · Office expenses

    total $226,322 · program services $176,229 · management and general $50,093

  • 14 · Information technology

    total $39,743 · program services $27,154 · management and general $12,589

  • 16 · Occupancy

    total $1,832,971 · program services $1,801,198 · management and general $31,773

  • 17 · Travel

    total $90,876 · program services $31,805 · management and general $59,071

  • 19 · Conferences, conventions and meetings

    total $93,159 · program services $73,704 · management and general $19,455

  • 20 · Interest

    total $1,177,875 · program services $1,174,696 · management and general $3,179

  • 22 · Depreciation, depletion and amortization

    total $2,833,829 · program services $2,821,698 · management and general $12,131

  • 23 · Insurance

    total $653,829 · program services $637,490 · management and general $16,339

  • 24a · Other expenses: UBI Income Tax Expense

    total $30 · management and general $30

  • 24b · Other expenses: Maintenance & Repairs

    total $1,017,849 · program services $1,017,485 · management and general $364

  • 24c · Other expenses: Bad Debt

    total $160,859 · program services $160,859

  • 24d · Other expenses: Administrative Expenses

    total $31,649 · management and general $31,649

  • 24e · All other expenses

    total $36,381 · program services $24,481 · management and general $11,900

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,275 · end of year $7,475

  • 2 · Savings and temporary cash investments

    beginning of year $9,086,980 · end of year $8,015,301

  • 4 · Accounts receivable

    beginning of year $8,870,923 · end of year $11,788,753

  • 7 · Other notes and loans receivable

    beginning of year $1,187,000 · end of year $1,702,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $425,873 · end of year $461,441

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

    $71,892,092

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

    $45,310,753

  • 10c · Land, buildings and equipment, net

    beginning of year $30,257,142 · end of year $26,581,339

  • 13 · Investments: program-related

    beginning of year $1,271,094 · end of year $2,890,298

  • 15 · Other assets

    beginning of year $4,138,197 · end of year $3,870,698

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,294,375 · end of year $746,106

  • 19 · Deferred revenue

    beginning of year $87,950 · end of year $67,961

  • 21 · Escrow or custodial account liability

    beginning of year $350,446 · end of year $350,092

  • 23 · Secured mortgages and notes payable

    beginning of year $32,537,955 · end of year $31,300,557

  • 25 · Other liabilities

    beginning of year $423,253 · end of year $391,967

  • 27 · Net assets without donor restrictions

    beginning of year $20,550,505 · end of year $22,460,622

Mission and programs · 2023

Mission

To address the concern of an inadequate supply of affordable, decent rental housing within the state of Idaho and other states and other similar areas of need. The Housing Company was created to encourage the development, management and preservation of permanently affordable rental housing for elderly, disadvantaged, low-income or otherwise needy persons. The Housing Company intends to acquire existing low-income housing projects, making them perpetually affordable, and to encourage the development of new affordable housing projects. The Housing Company expects that the occupants of new housing projects may also include a limited number of persons of moderate or higher incomes to encourage economically integrated housing as a means of preventing community deterioration. The Housing Company intends to pursue partnerships with other affordable housing organizations, if appropriate, as a means of achieving its objectives.

Activities or mission (Part I)

To develop, acquire, and operate (including management) real estate for elderly, disadvantaged, and limited-income persons.

  • The Housing Company (Housing) was incorporated in Idaho on August 2, 1990. Housing was formed to develop, acquire and operate real estate for the benefit of elderly, disadvantaged, limited income or otherwise needy persons throughout the state of Idaho. As of December 31, 2023, Housing had acquired and was operating fifteen multifamily housing complexes; had constructed and was operating twenty-two multifamily housing complexes; had constructed two additional phases of housing to existing developments; had completed renovations of two hotels and turned them into a new multifamily complex; had built a single family home known as The Cottage with HOME funds; (Continued on Schedule O)had purchased a single family home in Canyon County with federal NSP funds and turned it into special needs housing as intended by the program; had purchased three duplexes in Canyon County with federal NSP funds to rent as affordable housing; had constructed and sold three homes in Nez Perce County with HOME funds; had completed construction on three duplexes in Kuna with HOME and Housing Trust Fund moneys; had started construction on two multifamily complexes in Meridian, Idaho, and Twin Falls, Idaho and had purchased land in Nampa, Idaho, with the intent of constructing another multifamily complex.Housing was given the management responsibility of leasing and managing one (at the end of 2023) single family home (REO) that is owned and was foreclosed upon by IHFA. IHFA reimburses Housing for the amounts paid for the home's net income received or Housing repays IHFA if the income received is greater than the expenses paid. Housing receives $100 management fee per month for each REO home managed.Housing has entered into several property management agreements with Companies for the management of their Low Income Housing Tax Credit or HOME multifamily properties located in Idaho. As of December 31, 2023, Housing managed six different affordable housing projects and performed the housing compliance for one Idaho nonprofit corporation. Housing received management fees of $245,674 during 2023, which is reflected as income to Housing, but Housing has no ownership in these projects.

    Expenses $10,542,542 · Revenue $13,836,772

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

Listed in Part VII

  • Gerald Hunter

    President

    Total calculated
    $641,891
    From this org
    $0
    From related orgs
    $491,953
    Other
    $149,938
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $373,799 related
    Bonus
    $0 + $86,850 related
    Other
    $0 + $31,304 related
    Deferred
    $0 + $128,521 related
    Nontaxable benefits
    $0 + $22,165 related
    Filer's total
    $0 + $642,639 related

  • V Dale Babbitt

    Chairman

    Total calculated
    $4,550
    From this org
    $4,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Nancy Vannorsdel

    Director

    Total calculated
    $4,550
    From this org
    $4,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 0.3 related

  • Steven Keen

    Director

    Total calculated
    $4,550
    From this org
    $4,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mark Dunham

    Director

    Total calculated
    $4,550
    From this org
    $4,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 0.3 related

  • Erin Anderson

    Executive Director

    Total calculated
    $198,569
    From this org
    $148,807
    From related orgs
    $0
    Other
    $49,762
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,741
    Bonus
    $20,350
    Other
    $2,716
    Deferred
    $17,223
    Nontaxable benefits
    $33,197
    Filer's total
    $199,227

  • John Chung

    Treasurer

    Total calculated
    $347,655
    From this org
    $0
    From related orgs
    $263,486
    Other
    $84,169
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,005 related
    Bonus
    $0 + $43,500 related
    Other
    $0 + $12,981 related
    Deferred
    $0 + $50,975 related
    Nontaxable benefits
    $0 + $34,052 related
    Filer's total
    $0 + $348,513 related

  • Richard Skinner

    Secretary

    Total calculated
    $0
    Hours/week
    1

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
Non-fixed payments to the Board President are determined by the related organization's board of directors and nonfixed payments to other employees of the organization and related organization are discretionary determined by the Board President. Factors used to determine compensation include the combination of 1) The degree to which organizational performance objectives and revenue projections are met, 2) Each business unit achieving stated goals, and 3) Individual performance. The Board President consults with supervisors of those eligible to receive a bonus to discuss individual performance. No bonus is available without those three factors being satisfactory. The amount of the bonus cannot exceed 15% of an individual's compensation including the Director of Housing nor 30% for the President of Housing.

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.

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.

  • Idaho Housing and Finance Association

    Housing Finance Agency · ID

  • The Home Partnership Foundation

    501(c)(3) · Housing Finance Agency · ID

    Directly controlled by Idaho Housing and Finance Association

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.

  • Downtown Housing Development Limited PS

    Related · Low Income Housing · ID · 0.1% owned · share of income -$218 · share of assets $498,011 · general or managing partner

    Directly controlled by Downtown Housing Inc

  • Rose Park Place Limited Partnership

    Related · Low Income Housing · ID · 0.1% owned · share of income -$175 · share of assets $445,777 · general or managing partner

    Directly controlled by Rose Park Inc

  • Field Stream Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$30 · share of assets $210,323 · general or managing partner

    Directly controlled by Field Stream Inc

  • The Springs II Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$26 · share of assets $468,124 · general or managing partner

    Directly controlled by The Springs II Inc

  • Moon Valley Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · share of income $1,489 · general or managing partner

    Directly controlled by Moon Valley Inc

  • Bonneville Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$31 · share of assets $2,131,096 · general or managing partner

    Directly controlled by Bonneville Inc

  • Pioneer Meadows Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$12 · share of assets $44,046 · general or managing partner

    Directly controlled by PMA Development Inc

  • Teton Mesa 9 LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$14 · share of assets $568,358 · general or managing partner

    Directly controlled by TM 9 Inc

  • Teton Mesa 4 LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$11 · share of assets $1,578,435 · general or managing partner

    Directly controlled by TM 4 Inc

  • Canyon Terrace LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$36 · share of assets $1,520,218 · general or managing partner

    Directly controlled by Canyon Terrace Inc

  • Sunset Landing LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$137 · share of assets $1,167,247 · general or managing partner

    Directly controlled by Sunset Landing Inc

  • Blaine Manor Family LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$13 · share of assets $1,267,892 · general or managing partner

    Directly controlled by BM Family LLC

  • Blaine Manor Senior LP

    Related · Low Income Housing · ID · 0.01% owned · share of income -$18 · share of assets $1,454,159 · general or managing partner

    Directly controlled by BM Senior LLC

  • The Core Apartments General Partner LLC

    Related · Low Income Housing · ID · 51% owned · share of income -$2,219 · share of assets $1,042,672 · general or managing partner

    Directly controlled by The Housing Company

  • Wood Rose Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · share of assets $2,635,623 · general or managing partner

    Directly controlled by WR Apartments Inc

  • Alder Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · share of assets $4,738,327 · general or managing partner

    Directly controlled by Alder Apartments General Partner LLC

  • The Core Apartments LP

    Related · Low Income Housing · ID · 0.01% owned · general or managing partner

    Directly controlled by The Core Apartments General Partner LLC

Related corporations and trusts

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

  • Moon Valley Inc

    C · Low Income Housing · ID · 100% owned · share of income $19,531 · share of assets -$46,265 · controlled entity

    Directly controlled by The Housing Company

  • Sunset Landing Inc

    C · Low Income Housing · ID · 100% owned · share of income $33,914 · share of assets $36,189 · controlled entity

    Directly controlled by The Housing Company

  • The Springs II Inc

    C · Low Income Housing · ID · 100% owned · share of income $28,943 · share of assets $438,474 · controlled entity

    Directly controlled by The Housing Company

  • Bonneville Inc

    C · Low Income Housing · ID · 100% owned · share of income $5,464 · share of assets $22,887 · controlled entity

    Directly controlled by The Housing Company

  • Field Stream Inc

    C · Low Income Housing · ID · 100% owned · share of income $18,450 · share of assets $176,397 · controlled entity

    Directly controlled by The Housing Company

  • Canyon Terrace Inc

    C · Low Income Housing · ID · 100% owned · share of income $10,018 · share of assets $18,065 · controlled entity

    Directly controlled by The Housing Company

  • Moscow Inc

    C · Low Income Housing · ID · 100% owned · share of income $1 · share of assets $2,212 · controlled entity

    Directly controlled by The Housing Company

  • PMA Development Inc

    C · Low Income Housing · ID · 100% owned · share of income $7,426 · share of assets $23,733 · controlled entity

    Directly controlled by The Housing Company

  • Downtown Housing Inc

    C · Low Income Housing · ID · 100% owned · share of income $1,388 · share of assets $199,597 · controlled entity

    Directly controlled by The Housing Company

  • Rose Park Inc

    C · Low Income Housing · ID · 100% owned · share of income $1,501 · share of assets $321,635 · controlled entity

    Directly controlled by The Housing Company

  • TM 9 Inc

    C · Low Income Housing · ID · 100% owned · share of assets $2,334 · controlled entity

    Directly controlled by The Housing Company

  • TM 4 Inc

    C · Low Income Housing · ID · 100% owned · share of assets $2,476 · controlled entity

    Directly controlled by The Housing Company

  • BM Senior LLC

    C · Low Income Housing · ID · 49% owned · share of income $3,785 · share of assets $155,540

    Directly controlled by The Housing Company

  • BM Family LLC

    C · Low Income Housing · ID · 49% owned · share of income $3,785 · share of assets $253,550

    Directly controlled by The Housing Company

  • WR Apartments Inc

    C · Low Income Housing · ID · 100% owned · share of assets $529,580 · controlled entity

    Directly controlled by The Housing Company

  • Alder Apartments General Partner LLC

    C · Low Income Housing · ID · 100% owned · share of assets $1,262,391 · controlled entity

    Directly controlled by The Housing Company

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202413069349302281

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