Form 990 for tax year 2022

Filed by HOMESTART INC.

Totals

Total revenue: $364,796
Total expenses: $555,717
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $298,068
Investment income: $66,728
Other revenue: $0
Total assets, end of year: $10,582,007
Total liabilities, end of year: $4,436,555
Net assets or fund balances, end of year: $6,145,452
Program services expenses (Part IX): $489,595
Management and general expenses: $63,366
Fundraising expenses: $2,756
Program service expenses (Part III): $489,595

Program services were 88.1% 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.

2a · Program service revenue: RENTAL INCOME

total $209,646 · related or exempt $209,646
2b · Program service revenue: INTEREST INCOME

total $56,316 · related or exempt $56,316
2c · Program service revenue: DEVELOPER & MGMT. FEES

total $31,741 · related or exempt $31,741
2d · Program service revenue: OTHER INCOME

total $365 · related or exempt $365
3 · Investment income

total $21,824 · excluded $21,824
7a · Gross sales of assets other than inventory

other assets $112,160
7b · Less cost or other basis and sales expenses

other assets $67,256
7c · Gain or loss

other assets $44,904
7d · Net gain or loss

total $44,904 · related or exempt $44,904

Functional expenses

Part IX, the statement of functional expenses.

11b · Fees: legal

total $341 · program services $263 · management and general $78
11c · Fees: accounting

total $12,270 · program services $6,600 · management and general $5,670
12 · Advertising and promotion

total $84 · management and general $84
13 · Office expenses

total $17,466 · program services $3,226 · management and general $14,240
16 · Occupancy

total $8,173 · management and general $8,173
17 · Travel

total $1,156 · program services $1,142 · management and general $14
19 · Conferences, conventions and meetings

total $1,232 · program services $962 · management and general $270
20 · Interest

total $32,462 · program services $32,462
22 · Depreciation, depletion and amortization

total $118,674 · program services $117,510 · management and general $1,164
23 · Insurance

total $10,840 · program services $2,059 · management and general $8,781
24a · Other expenses: RENTAL EXPENSES

total $214,513 · program services $214,513
24b · Other expenses: PAYROLL ALLOC./PUR. SVC

total $135,881 · program services $108,322 · management and general $24,803 · fundraising $2,756
24c · Other expenses: TITLE, CREDIT & RECORDI

total $2,625 · program services $2,536 · management and general $89

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $411,308 · end of year $99,670
2 · Savings and temporary cash investments

beginning of year $381,502 · end of year $154,197
4 · Accounts receivable

beginning of year $1,095,502 · end of year $352,053
7 · Other notes and loans receivable

beginning of year $6,596,623 · end of year $7,028,654
9 · Prepaid expenses and deferred charges

end of year $3,439
10a · Land, buildings and equipment: cost or other basis

$3,464,166
10b · Land, buildings and equipment: accumulated depreciation

$1,639,457
10c · Land, buildings and equipment, net

beginning of year $1,953,610 · end of year $1,824,709
12 · Investments: other securities

beginning of year $315,772 · end of year $1,119,285
17 · Accounts payable and accrued expenses

beginning of year $348,042 · end of year $385,336
23 · Secured mortgages and notes payable

beginning of year $4,072,447 · end of year $4,051,219
27 · Net assets without donor restrictions

beginning of year $6,333,828 · end of year $6,145,452

Mission and programs · 2022

Mission

THE MISSION OF HOMESTART, INC. IS TO IMPROVE THE QUALITY OF LIFE FOR LOW- AND MODERATE-INCOME RESIDENTS OF MONTGOMERY COUNTY BY PROVIDING SAFE, AFFORDABLE HOUSING OPPORTUNITIES.

Activities or mission (Part I)

IMPROVE THE QUALITY OF LIFE FOR MONTGOMERY COUNTY RESIDENTS THROUGH IMPROVED HOUSING OPPORTUNITIES.

HOMESTART, INC. SERVES AS AN OWNER IN LEASE PURCHASE AND RENTAL PROPERTIES AVAILABLE TO LOW- AND MODERATE-INCOME FAMILIES. THE ORGANIZATION SERVES SPECIAL POPULATIONS SUCH AS DISABLED VETERANS, THE HOMELESS, THOSE RECOVERING FROM ADDICTION, AND THOSE CHALLENGED WITH ACCESSIBILITY NEEDS. HOUSING OPPORTUNITIES PROVIDED INCLUDE PERMANENT SUPPORTIVE HOUSING, FULLY ACCESSIBLE HOUSING, AND LONG-TERM LEASE PURCHASE. A TOTAL OF 30 HOUSING UNITS ARE OWNED.

Expenses $448,224 · Revenue $284,578
O HOMESTART, INC. SERVES AS GENERAL PARTNER OR LENDER IN SEVERAL DEVELOPMENTS OF AFFORDABLE HOUSING. THE HOUSING DEVELOPMENTS INCLUDE NEW CONSTRUCTION, LONG-TERM LEASE PURCHASE, PRESERVATION OF EXISTING AFFORDABLE UNITS, AND PERMANENT SUPPORTIVE HOUSING. HOMESTART, INC. IS A CO-GENERAL PARTNER IN LISCUM AND FISKE LIMITED PARTNERSHIP. HOMESTART, INC. OWNS ALMOND-HOMESTART, INC. TO SERVE AS THE CO-GENERAL PARTNER IN ALMOND VILLAGE L.P., DVC II-HOMESTART, INC. TO SERVE AS THE MANAGING MEMBER IN DAYTON VIEW COMMONS II, LLC., MARTINDALE-HOMESTART, INC. TO SERVE AS THE MANAGING MEMBER IN MEADOWS OF MARTINDALE UNION, LLC, AND WHITMORE ARMS, INC. TO SERVE AS THE MANAGING MEMBER IN WHITMORE ARMS ASSOCIATES, LLC. THE ORGANIZATION IS A SHAREHOLDER IN RIVER-HOMESTART, INC., WHICH OWNS A GENERAL PARTNERSHIP INTEREST IN RIVER COMMONS II, LLC, AND A SHAREHOLDER IN FT. MCKINLEY-HOMESTART, INC., WHICH OWNS A GENERAL PARTNERSHIP INTEREST IN FT. MCKINLEY HOMES, LLC. HOMESTART IS THE MANAGING MEMBER IN FT. MCKINLEY HOMES, LLC. THE REVENUE REPRESENTS DEVELOPER FEES AND INTEREST INCOME ON LOANS AND THE EXPENSE REPRESENTS INTEREST RELATED TO THE ALMOND VILLAGE, FT. MCKINLEY HOMES, AND MEADOWS OF MARTINDALE UNION PROJECTS AND DEVELOPER FEES TO THE CO-DEVELOPERS FOR THE PROJECTS.

Expenses $41,371 · Revenue $58,394

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

Listed in Part VII

Charles CrawfordCHARLES CRAWFORD

TRUSTEE

Total calculated

$0

Hours/week

2
Lance DetrickLANCE DETRICK

TRUSTEE

Total calculated

$0

Hours/week

2
Mary EllingtonMARY ELLINGTON

TRUSTEE (OCT-MAR)

Total calculated

$0

Hours/week

2
Stephan GaytkoSTEPHAN GAYTKO

TRUSTEE

Total calculated

$0

Hours/week

2
Jyl Hall SmithJYL HALL SMITH

TRUSTEE

Total calculated

$0

Hours/week

2
Walt HibnerWALT HIBNER

TRUSTEE

Total calculated

$0

Hours/week

2
Nathanael JohnsonNATHANAEL JOHNSON

TRUSTEE

Total calculated

$0

Hours/week

2
Tom KelleyTOM KELLEY

TRUSTEE

Total calculated

$0

Hours/week

2
Karlos MarshallKARLOS MARSHALL

TRUSTEE

Total calculated

$0

Hours/week

2
Laura MercerLAURA MERCER

TRUSTEE

Total calculated

$0

Hours/week

2
Keith RihmKEITH RIHM

TRUSTEE (OCT-APR)

Total calculated

$0

Hours/week

2
Anita SchmaltzANITA SCHMALTZ

TRUSTEE

Total calculated

$0

Hours/week

2
Latisha TaylorLATISHA TAYLOR

TRUSTEE

Total calculated

$0

Hours/week

2
Judith ThompsonJUDITH THOMPSON

TRUSTEE

Total calculated

$0

Hours/week

2
Angela Watson GayANGELA WATSON GAY

TRUSTEE

Total calculated

$0

Hours/week

2
Thomas WhalenTHOMAS WHALEN

TRUSTEE (OCT-MAR)

Total calculated

$0

Hours/week

2
Frank WinslowFRANK WINSLOW

TRUSTEE (OCT-APR)

Total calculated

$0

Hours/week

2
John F Kuntz IIIJOHN F KUNTZ III

CHAIR

Total calculated

$0

Hours/week

2
Val BeerbowerVAL BEERBOWER

VICE CHAIR

Total calculated

$0

Hours/week

2
Cynthia Hatton TepeCYNTHIA HATTON TEPE

TREASURER

Total calculated

$0

Hours/week

2
Dave VandercherDAVE VANDERCHER

SECRETARY

Total calculated

$0

Hours/week

2
Bonnie ParishBONNIE PARISH

IMM. PAST CHAIR

Total calculated

$0

Hours/week

2
Stephen D NaasSTEPHEN D NAAS

ASST. SECRETARY/PRESIDENT

Total calculated

$162,519

From this org

$0

From related orgs

$139,224

Other

$23,295

Hours/week

2 + 34 related

Schedule J breakdown matched by us

Base

$0 + $139,224 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0 + $23,295 related

Filer's total

$0 + $162,519 related
Tracy L SchultzTRACY L SCHULTZ

ASSISTANT TREASURER

Total calculated

$125,355

From this org

$0

From related orgs

$86,813

Other

$38,542

Hours/week

3 + 31 related
Elizabeth BruneELIZABETH BRUNE

ASSISTANT TREASURER (JUN-SEP)

Total calculated

$0

Hours/week

1 + 36 related

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 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

The filer's explanations (Part III)

PART I, LINE 3: COUNTY CORP HAS AN EXECUTIVE COMMITTEE THAT COMPLETES THE ANNUAL REVIEW OF STEPHEN NAAS AND APPROVES ANY RAISES THAT MAY BE AWARDED FROM THAT REVIEW.

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.

COUNTY CORP

501(C)(3) · AFFORDABLE HOUSING · OH

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.

LISCUM & FISKE L P

RELATED · AFFORDABLE HOUSING · OH · 0.03% owned · share of income -$34 · share of assets $50,784 · general or managing partner

Related corporations and trusts

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

ALMOND-HOMESTART INC

C · AFFORDABLE HOUSING · OH · 100% owned · share of income -$104 · share of assets -$1,088 · controlled entity

Directly controlled by HOMESTART INC
RIVER-HOMESTART INC

C · AFFORDABLE HOUSING · OH · 49% owned · share of income -$381 · share of assets $428,961

Directly controlled by HOMESTART INC
DVC II-HOMESTART INC

C · AFFORDABLE HOUSING · OH · 100% owned · share of income -$110 · share of assets -$1,121 · controlled entity

Directly controlled by HOMESTART INC
FT MCKINLEY-HOMESTART INC

C · AFFORDABLE HOUSING · OH · 79% owned · share of income -$150 · share of assets -$653 · controlled entity

Directly controlled by HOMESTART INC
MARTINDALE-HOMESTART INC

C · AFFORDABLE HOUSING · OH · 100% owned · share of income -$45 · share of assets $9,702 · controlled entity

Directly controlled by HOMESTART INC
WHITMORE ARMS INC

C · AFFORDABLE HOUSING · OH · 100% owned · share of income -$326 · share of assets $305,699 · controlled entity

Directly controlled by HOMESTART INC

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 August 2024
IRS schema version: 2022v5.0
Source object: 202402289349303415

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