Form 990 for tax year 2023

Filed by THRESHOLD HOUSING DEVELOPMENT INC.

Totals

Total revenue: $502,680
Total expenses: $561,919
Contributions and grants received: $448,097
Grants paid: $0
Program service revenue: $0
Investment income: $0
Other revenue: $54,583
Total assets, end of year: $381,658
Total liabilities, end of year: $404,194
Net assets or fund balances, end of year: -$22,536
Program services expenses (Part IX): $494,762
Management and general expenses: $67,157
Fundraising expenses: $0
Program service expenses (Part III): $494,762

Program services were 88.0% 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)

$448,097
6a · Gross rents

real property $5,400
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $5,400
6d · Net rental income or loss

total $5,400 · excluded $5,400
10a · Gross sales of inventory

$45,000
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $45,000 · related or exempt $45,000
11a · Other revenue: MISCELLANEOUS

total $4,046 · excluded $4,046
11b · Other revenue: INTEREST INCOME

total $137 · excluded $137
11e · Other revenue, total

$4,183

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $189,675 · program services $169,098 · management and general $20,577
9 · Other employee benefits

total $60,772 · program services $51,242 · management and general $9,530
11g · Fees: other

total $16,330 · program services $12,788 · management and general $3,542
12 · Advertising and promotion

total $1,445 · program services $1,204 · management and general $241
13 · Office expenses

total $1,504 · program services $1,131 · management and general $373
16 · Occupancy

total $11,880 · program services $9,818 · management and general $2,062
17 · Travel

total $7,518 · program services $6,657 · management and general $861
20 · Interest

total $6,745 · management and general $6,745
22 · Depreciation, depletion and amortization

total $3,437 · management and general $3,437
23 · Insurance

total $16,444 · program services $12,720 · management and general $3,724
24a · Other expenses: DEVELOPMENT COSTS

total $93,540 · program services $90,273 · management and general $3,267
24b · Other expenses: REAL ESTATE AQUISITIONS

total $67,000 · program services $67,000
24c · Other expenses: DEVELOPER FEE

total $45,000 · program services $45,000
24d · Other expenses: CONTRACT SERVICES

total $26,972 · program services $20,229 · management and general $6,743
24e · All other expenses

total $13,657 · program services $7,602 · management and general $6,055

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $49,702 · end of year $179,237
4 · Accounts receivable

beginning of year $25,541 · end of year $54,615
9 · Prepaid expenses and deferred charges

beginning of year $3,541 · end of year $2,448
10a · Land, buildings and equipment: cost or other basis

$232,242
10b · Land, buildings and equipment: accumulated depreciation

$108,952
10c · Land, buildings and equipment, net

beginning of year $126,727 · end of year $123,290
15 · Other assets

beginning of year $2,513 · end of year $22,068
17 · Accounts payable and accrued expenses

beginning of year $12,903 · end of year $36,436
19 · Deferred revenue

beginning of year $8,418 · end of year $224,062
23 · Secured mortgages and notes payable

end of year $143,696
25 · Other liabilities

beginning of year $150,000 · end of year $0
27 · Net assets without donor restrictions

beginning of year $36,703 · end of year -$22,536

Mission and programs · 2023

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 $494,762 · Revenue $45,000

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

Listed in Part VII

Melissa ShowMELISSA SHOW

DIRECTOR

Total calculated

$0

Hours/week

1
James KrivanekJAMES KRIVANEK

DIRECTOR

Total calculated

$0

Hours/week

1
David CalvarioDAVID CALVARIO

DIRECTOR

Total calculated

$0

Hours/week

1
Debbie PotkulDEBBIE POTKUL

DIRECTOR

Total calculated

$0

Hours/week

1
Kim HawkKIM HAWK

CHAIRPERSON

Total calculated

$0

Hours/week

3
Jeff FondelierJEFF FONDELIER

TREASURER

Total calculated

$0

Hours/week

2
Tom RocksTOM ROCKS

SECRETARY

Total calculated

$0

Hours/week

1
Jessica Hajek-BatesJESSICA HAJEK-BATES

VICE PRESIDENT

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.

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.

FAYETTE COUNTY COMMUNITY ACTION AGENCY

501(C)(3) · SERVICES TO LOW-INCOME INDIVIDUALS AND FAMILIES · PA
BLUEPRINTS

501(C)(3) · SERVICES TO LOW-INCOME INDIVIDUALS AND FAMILIES · PA

Provenance

Return type: form_990
Tax year: 2023
Filed: 23 January 2025
IRS schema version: 2023v6.0
Source object: 202520249349300427

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