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← THE AFFORDABLE HOUSING TRUST FOR COLUMBUS & FRANKLIN COUNTY

Form 990 for tax year 2024

Filed by THE AFFORDABLE HOUSING TRUST FOR COLUMBUS & FRANKLIN COUNTY.

Totals

Total revenue
$21,413,478
Total expenses
$5,753,412
Contributions and grants received
$13,968,869
Grants paid
$362,962
Program service revenue
$4,930,123
Investment income
$2,467,086
Other revenue
$47,400
Total assets, end of year
$221,617,044
Total liabilities, end of year
$94,481,223
Net assets or fund balances, end of year
$127,135,821
Program services expenses (Part IX)
$4,957,762
Management and general expenses
$795,650
Fundraising expenses
$0
Program service expenses (Part III)
$4,957,762

Program services were 86.2% 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)

    $13,702,878

  • 1f · All other contributions, gifts and grants

    $265,991

  • 2a · Program service revenue: INTEREST ON NOTES RECEIVABLE

    total $4,491,253 · related or exempt $4,491,253

  • 2b · Program service revenue: LOAN FEES

    total $393,870 · related or exempt $393,870

  • 2c · Program service revenue: MANAGEMENT INCOME

    total $45,000 · related or exempt $45,000

  • 3 · Investment income

    total $2,468,238 · excluded $2,468,238

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

    other assets $1,152

  • 7c · Gain or loss

    other assets -$1,152

  • 7d · Net gain or loss

    total -$1,152 · excluded -$1,152

  • 11a · Other revenue: OTHER INCOME

    total $47,400 · related or exempt $47,400

  • 11e · Other revenue, total

    $47,400

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $362,962 · program services $362,962

  • 5 · Compensation of officers, directors and key employees

    total $1,358,168 · program services $1,086,535 · management and general $271,633

  • 7 · Other salaries and wages

    total $261,030 · program services $208,824 · management and general $52,206

  • 8 · Pension plan contributions

    total $47,991 · program services $38,393 · management and general $9,598

  • 9 · Other employee benefits

    total $149,198 · program services $119,358 · management and general $29,840

  • 10 · Payroll taxes

    total $114,510 · program services $91,607 · management and general $22,903

  • 11b · Fees: legal

    total $147,250 · program services $117,800 · management and general $29,450

  • 11g · Fees: other

    total $372,085 · program services $146,550 · management and general $225,535

  • 12 · Advertising and promotion

    total $9,325 · program services $7,459 · management and general $1,866

  • 13 · Office expenses

    total $54,468 · program services $43,580 · management and general $10,888

  • 14 · Information technology

    total $25,710 · program services $20,568 · management and general $5,142

  • 16 · Occupancy

    total $154,136 · program services $123,309 · management and general $30,827

  • 17 · Travel

    total $17,623 · program services $14,098 · management and general $3,525

  • 19 · Conferences, conventions and meetings

    total $52,562 · program services $42,050 · management and general $10,512

  • 20 · Interest

    total $1,812,508 · program services $1,812,508

  • 22 · Depreciation, depletion and amortization

    total $9,328 · program services $7,462 · management and general $1,866

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $702,309 · program services $702,309

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $102,249 · program services $12,390 · management and general $89,859

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $326,487 · end of year $520,474

  • 2 · Savings and temporary cash investments

    beginning of year $57,189,918 · end of year $57,649,431

  • 4 · Accounts receivable

    beginning of year $133,370 · end of year $46,500

  • 7 · Other notes and loans receivable

    beginning of year $96,100,862 · end of year $162,848,388

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,625 · end of year $24,610

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

    $533,554

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

    $129,313

  • 10c · Land, buildings and equipment, net

    beginning of year $367,111 · end of year $404,241

  • 11 · Investments: publicly traded securities

    beginning of year $107,600 · end of year $123,400

  • 17 · Accounts payable and accrued expenses

    beginning of year $728,040 · end of year $1,159,227

  • 19 · Deferred revenue

    beginning of year $1,512,561 · end of year $6,704,860

  • 23 · Secured mortgages and notes payable

    beginning of year $40,514,617 · end of year $86,617,136

  • 27 · Net assets without donor restrictions

    beginning of year $15,773,655 · end of year $18,216,782

  • 28 · Net assets with donor restrictions

    beginning of year $95,702,100 · end of year $108,919,039

Mission and programs · 2024

Mission

FACILITATE AND INVEST IN DEVELOPMENTS DESIGNED TO: CREATE AND PRESERVE AFFORDABLE HOMEOWNERSHIP AND RENTAL HOUSING; STRENGTHEN AND STABILIZE NEIGHBORHOODS; SUPPORT WORKING HOUSEHOLDS, SENIORS AND SPECIAL NEEDS POPULATIONS.

  • IN 2024, THE HOUSING TRUST HAS PROGRAM-RELATED OBLIGATIONS OF A RESTRICTED BALANCE OF $108.9 MILLION. THE TRUST HAS ALSO FACILITATED THE CREATION OR PRESERVATION OF 1965 HOUSING UNITS IN COLUMBUS, FRANKLIN COUNTY, AND THE SURROUNDING REGION.

    Expenses $4,957,762 · Grants $362,962 · Revenue $4,977,523

As filed on the 2024 return.

Listed in Part VII

  • LARK MALLORY

    FORMER PRESIDENT & CEO (RETIRED 2024)

    Total calculated
    $436,581
    From this org
    $408,648
    From related orgs
    $0
    Other
    $27,933
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $308,648
    Bonus
    $100,000
    Other
    $0
    Deferred
    $13,425
    Nontaxable benefits
    $14,508
    Filer's total
    $436,581

  • MICHELLE L PROULX

    VP & FUND MANAGER

    Total calculated
    $190,419
    From this org
    $161,803
    From related orgs
    $0
    Other
    $28,616
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,053
    Bonus
    $15,750
    Other
    $0
    Deferred
    $1,246
    Nontaxable benefits
    $27,370
    Filer's total
    $190,419

  • DAVID BUTCHER

    DIRECTOR OF LENDING

    Total calculated
    $181,607
    From this org
    $152,070
    From related orgs
    $0
    Other
    $29,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,070
    Bonus
    $15,000
    Other
    $0
    Deferred
    $8,008
    Nontaxable benefits
    $21,529
    Filer's total
    $181,607

  • BRIAN MCCLELLAN

    CONTROLLER

    Total calculated
    $176,077
    From this org
    $164,486
    From related orgs
    $0
    Other
    $11,591
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,486
    Bonus
    $26,000
    Other
    $0
    Deferred
    $9,869
    Nontaxable benefits
    $1,722
    Filer's total
    $176,077

  • DEREK ANDERSON

    CHIEF OF STAFF

    Total calculated
    $146,835
    From this org
    $127,339
    From related orgs
    $0
    Other
    $19,496
    Hours/week
    40

  • BRANDIE HANCOCK

    DIRECTOR OF OPERATIONS

    Total calculated
    $129,579
    From this org
    $101,961
    From related orgs
    $0
    Other
    $27,618
    Hours/week
    40

  • STEVEN GLADMAN

    INTERIM PRESIDENT & CEO

    Total calculated
    $97,070
    From this org
    $97,070
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • LAUREN HAGAN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOEL COLEMAN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SEAN GRANT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN WITTMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JODELLE CARDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BILL LAFAYETTE PHD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL CHILDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JACQUELIN LEWIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM FAITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PASTOR VICTOR DAVIS

    DIRECTOR ( RETIRED 2024)

    Total calculated
    $0
    Hours/week
    1

  • HAL KELLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MARY LOVE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATTHEW KEATING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AUTUMN GLOVER

    DIRECTOR

    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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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 1A
CERTAIN BENEFITS ARE PROVIDED TO OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES OR HIGHEST COMPENSATED EMPLOYEES.
PART I, LINE 3
APPROPRIATE METHODS ARE IN PLACE TO ESTABLISH THE COMPENSATION OF THE ORGANIZATIONS CEO/EXECUTIVE DIRECTOR.
PART I, LINE 4A
LARK MALLORY - FORMER EMPLOYEE. APPROPRIATE COMPENSATION INFORMATION IS LISTED ON FORM 990 PART VII AND SCHEDULE J.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • AHT HOLDINGS LLC

    HOUSING · OH · income $0 · assets $130

    Directly controlled by THE AFFORDABLE HOUSING TRUST FOR COLUMBUS AND FRANKLIN COUNTY

  • HOUSING ACTION FUND LLC

    FINANCE · OH · income $381,523 · assets $76,229,706

    Directly controlled by THE AFFORDABLE HOUSING TRUST FOR COLUMBUS AND FRANKLIN COUNTY

  • AHT REGIONAL IMPACT FUND LLC

    FINANCE · OH · income $21,490 · assets $13,535,762

    Directly controlled by THE AFFORDABLE HOUSING TRUST FOR COLUMBUS AND FRANKLIN COUNTY

Provenance

Return type
form_990
Tax year
2024
Filed
17 June 2025
IRS schema version
2024v5.1
Source object
202541699349301334

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