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Nonprofiteer
← HOUSING OPPORTUNITIES INC

Form 990 for tax year 2023

Filed by HOUSING OPPORTUNITIES INC.

Totals

Total revenue
$5,707,092
Total expenses
$3,513,038
Contributions and grants received
$4,712,809
Grants paid
$259,440
Program service revenue
$943,173
Investment income
$32,947
Other revenue
$18,163
Total assets, end of year
$13,663,573
Total liabilities, end of year
$2,829,080
Net assets or fund balances, end of year
$10,834,493
Program services expenses (Part IX)
$2,962,748
Management and general expenses
$454,186
Fundraising expenses
$96,104
Program service expenses (Part III)
$2,962,748

Program services were 84.3% 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.

  • 1a · Federated campaigns

    $23,430

  • 1e · Government grants (contributions)

    $4,263,589

  • 1f · All other contributions, gifts and grants

    $425,790

  • 1g · Noncash contributions included above

    $21,784

  • 2a · Program service revenue: Property Management

    total $943,173 · related or exempt $943,173

  • 3 · Investment income

    total $16,309 · excluded $16,309

  • 7a · Gross sales of assets other than inventory

    securities $7,026 · other assets $9,612

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $7,026 · other assets $9,612

  • 7d · Net gain or loss

    total $16,638 · excluded $16,638

  • 11a · Other revenue: Property Tax Refunds

    total $9,935 · excluded $9,935

  • 11b · Other revenue: Insurance Reimbursemen

    total $6,264 · excluded $6,264

  • 11c · Other revenue: Miscellaneous Revenue

    total $1,964 · excluded $1,964

  • 11e · Other revenue, total

    $18,163

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $259,440 · program services $259,440

  • 5 · Compensation of officers, directors and key employees

    total $149,174 · program services $48,539 · management and general $85,428 · fundraising $15,207

  • 7 · Other salaries and wages

    total $1,311,841 · program services $930,094 · management and general $342,185 · fundraising $39,562

  • 8 · Pension plan contributions

    total $2,580 · program services $2,580

  • 9 · Other employee benefits

    total $4,812 · program services $3,226 · management and general $1,406 · fundraising $180

  • 10 · Payroll taxes

    total $11,457 · program services $7,681 · management and general $3,347 · fundraising $429

  • 11b · Fees: legal

    total $4,250 · program services $3,311 · management and general $274 · fundraising $665

  • 11c · Fees: accounting

    total $22,500 · program services $17,531 · management and general $1,449 · fundraising $3,520

  • 11g · Fees: other

    total $94,197 · program services $73,395 · management and general $6,065 · fundraising $14,737

  • 13 · Office expenses

    total $13,580 · program services $12,678 · management and general $83 · fundraising $819

  • 14 · Information technology

    total $71,888 · program services $64,708 · management and general $96 · fundraising $7,084

  • 16 · Occupancy

    total $694,866 · program services $685,553 · management and general $66 · fundraising $9,247

  • 17 · Travel

    total $23,629 · program services $22,583 · management and general $416 · fundraising $630

  • 20 · Interest

    total $149,083 · program services $143,820 · management and general $2,605 · fundraising $2,658

  • 22 · Depreciation, depletion and amortization

    total $375,496 · program services $375,496

  • 23 · Insurance

    total $123,206 · program services $111,142 · management and general $10,698 · fundraising $1,366

  • 24a · Other expenses: PC Expenses

    total $165,265 · program services $165,265

  • 24b · Other expenses: Client Services

    total $34,066 · program services $34,066

  • 24c · Other expenses: Miscellaneous

    total $1,708 · program services $1,640 · management and general $68

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $328,129 · end of year $15,361

  • 2 · Savings and temporary cash investments

    beginning of year $104,398 · end of year $202,718

  • 3 · Pledges and grants receivable

    beginning of year $563,031 · end of year $98,411

  • 4 · Accounts receivable

    beginning of year $112,161 · end of year $8,924

  • 7 · Other notes and loans receivable

    beginning of year $947,863 · end of year $3,344,788

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,071 · end of year $0

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

    $11,961,082

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

    $2,859,543

  • 10c · Land, buildings and equipment, net

    beginning of year $8,227,541 · end of year $9,101,539

  • 12 · Investments: other securities

    beginning of year $68,467 · end of year $77,654

  • 13 · Investments: program-related

    beginning of year $56,292 · end of year $279,342

  • 15 · Other assets

    beginning of year $841,605 · end of year $534,836

  • 17 · Accounts payable and accrued expenses

    beginning of year $138,202 · end of year $38,754

  • 19 · Deferred revenue

    beginning of year $41,328 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,939,382 · end of year $1,751,478

  • 25 · Other liabilities

    beginning of year $510,232 · end of year $1,038,848

  • 27 · Net assets without donor restrictions

    beginning of year $8,639,234 · end of year $10,833,313

  • 28 · Net assets with donor restrictions

    beginning of year $1,180 · end of year $1,180

Mission and programs · 2023

Mission

Housing Opportunities Inc. works to resolve and prevent homelessness in our communities by providing emergency housing, permanent supportive housing, affordable rentals, rental assistance, housing counseling, street outreach services, and supportive case management.

Activities or mission (Part I)

Housing Opportunities Inc. resolves and prevents homelessness in Northwest Indiana.

  • Affordable Rentals - Income-based rental housing to provide lower income individuals and families with access to safe, affordable housing. 333 clients housed in fiscal year ending June 30, 2023. As of the fiscal year end, Housing Opportunities, Inc owns and/or manages 195 Affordable Rental units through low-income housing tax credit partnerships.

    Expenses $846,255 · Revenue $745,889

  • Permanent Supportive Housing - Supportive rental housing and individualized case management services for persons/families with diagnosed disabilities. 149 clients were housed during fiscal year ending June 30, 2024. Housing Opportunities owned and/or managed 58 Permanent Supportive Housing units as of fiscal year end.

    Expenses $705,393 · Revenue $72,494

  • Rental Assistance (Rapid Rehousing) - Financial assistance and services to prevent individuals and families from becoming homeless or to help those who are experiencing homelessness to be quickly re-housed and stabilized in rental units within the community. Housing Opportunities, Inc housed 91 Rental Assistance clients during the fiscal year ending June 30, 2024.

    Expenses $491,951 · Grants $259,440 · Revenue $81,527

  • Emergency Housing and Resource Center - We provide emergency housing and supportive wraparound services for individuals and families experiencing homelessness. Resource center offers showers, laundry, kitchen, food pantry, lockers, access to phone and computers, along with case management services. 237 clients housed during the fiscal year.Street Outreach - We provide direct connection and resource support for persons experiencing homelessness. Services include access to our resource center, connection to community resources, and personal support. 163 clients served during the fiscal year.

    Expenses $919,149 · Revenue $43,263

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

Listed in Part VII

  • Jim Starin

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Mary Idstein

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Maria Becerra

    Secretary - Start 08/23

    Total calculated
    $0
    Hours/week
    1

  • Ben Schottel

    Director

    Total calculated
    $0
    Hours/week
    1

  • Julie Anderson

    Director - Start 08/23

    Total calculated
    $0
    Hours/week
    1

  • Nina Wiseman

    Director-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Jocelyn Hibshman

    Chair-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Wes Barnes

    Vice Chair-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Harriet Fagan

    Director-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Phyllis Schroeder

    Director-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Joe Grossbauer

    Director-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Tim Knauff

    Secretary-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Brandi Anstine

    Director-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Nils Dietz

    Director-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Marisa Verdugo

    Director-Exit 7/23

    Total calculated
    $0
    Hours/week
    1

  • Jordan Stanfill

    Chief Housing Officer

    Total calculated
    $139,030
    From this org
    $87,629
    From related orgs
    $47,977
    Other
    $3,424
    Hours/week
    40

  • Lynda Gravier

    Director of Finance

    Total calculated
    $95,057
    From this org
    $55,844
    From related orgs
    $36,936
    Other
    $2,277
    Hours/week
    40

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.

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.

  • Appleseed Holdings LLC

    Low-Income Housing · IN · income $0 · assets $0

    Directly controlled by Housing Opportunities Inc

  • HOI Ivy Flats LLC

    Low-Income Housing · IN · income $0 · assets $0

    Directly controlled by Housing Opportunities Inc

Related partnerships

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

  • Prominence Commons LP

    Low-Income Housing · IN

  • Aurora View LP

    Low-Income Housing · IN

  • Prominence Commons II LP

    Low-Income Housing · IN

Related corporations and trusts

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

  • HOI-Prominence Commons LLC

    C · Low-Income Housing · IN · 100% owned · share of income $1 · share of assets $55,957

    Directly controlled by Housing Opportunities Inc

  • PSSHOI-Aurora View LLC

    C · Low-Income Housing · IN · 49% owned · share of assets -$48

    Directly controlled by Housing Opportunities Inc

  • HOI-Prominence Commons II LLC

    C · Low-Income Housing · IN · 100% owned · share of assets $170,100

    Directly controlled by Housing Opportunities Inc

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202402989349301555

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