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Nonprofiteer
← HOMEOWNERSHIP COUNCIL OF AMERICA

Form 990 for tax year 2022

Filed by HOMEOWNERSHIP COUNCIL OF AMERICA.

Totals

Total revenue
$1,106,632
Total expenses
$447,219
Contributions and grants received
$89,148
Grants paid
$0
Program service revenue
$1,017,484
Investment income
$0
Other revenue
$0
Total assets, end of year
$801,433
Total liabilities, end of year
$6,540
Net assets or fund balances, end of year
$794,893
Program services expenses (Part IX)
$278,355
Management and general expenses
$168,864
Fundraising expenses
$0
Program service expenses (Part III)
$278,355

Program services were 62.2% 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.

  • 1f · All other contributions, gifts and grants

    $89,148

  • 2a · Program service revenue: CLIMB

    total $331,600 · related or exempt $331,600

  • 2b · Program service revenue: Lender Services

    total $45,450 · related or exempt $45,450

  • 2c · Program service revenue: Equity DPA

    total $640,434 · related or exempt $640,434

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $151,625 · program services $151,625

  • 7 · Other salaries and wages

    total $180,868 · program services $82,427 · management and general $98,441

  • 9 · Other employee benefits

    total $19,581 · management and general $19,581

  • 10 · Payroll taxes

    total $27,809 · management and general $27,809

  • 11a · Fees: management

    total $9,817 · program services $9,817

  • 11c · Fees: accounting

    total $1,500 · management and general $1,500

  • 11g · Fees: other

    total $1,500 · management and general $1,500

  • 12 · Advertising and promotion

    total $2,209 · program services $1,493 · management and general $716

  • 13 · Office expenses

    total $12,955 · program services $7,129 · management and general $5,826

  • 17 · Travel

    total $27,460 · program services $23,485 · management and general $3,975

  • 19 · Conferences, conventions and meetings

    total $124 · management and general $124

  • 23 · Insurance

    total $4,813 · management and general $4,813

  • 24a · Other expenses: Dues and Subscriptions

    total $5,057 · program services $2,294 · management and general $2,763

  • 24b · Other expenses: Utilities

    total $480 · management and general $480

  • 24c · Other expenses: Bank Charges and Fees

    total $1,148 · program services $85 · management and general $1,063

  • 24d · Other expenses: Tax Licences Fees

    total $273 · management and general $273

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,048 · end of year $392,307

  • 4 · Accounts receivable

    beginning of year $34,200 · end of year $293,578

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,542

  • 7 · Other notes and loans receivable

    beginning of year $87,146 · end of year $114,146

  • 9 · Prepaid expenses and deferred charges

    end of year $1,402

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,456 · end of year $6,540

  • 27 · Net assets without donor restrictions

    beginning of year $135,480 · end of year $183,534

  • 28 · Net assets with donor restrictions

    end of year $611,359

Mission and programs · 2022

Mission

Build equitable access to homeownership for Americas underserved communities.

  • CLIMB: Community Lending Initiatives in Mortgage Banking is a technical assistance and capacity building service for CDFIs, lenders, and HUD-approved housing counseling organizations that work in homeownership services for low income populations and other underserved communities. HCA provides specialized services and industry experience to each organizations leadership to support sustainable lending products, partnerships, and delivery systems that increase access to credit and lending for underserved homebuyers. Lender Services: HCAs team of experienced, NMLS licensed Underwriters work with mission-based organizations, nonprofit lenders, and community development financial institutions (CDFIs) to ensure them the highest quality of mortgage underwriting and down payment assistance delivery.

    Expenses $222,684 · Revenue $45,450

  • Equity Down Payment Assistance / Special Purpose Credit Program: Supporting LMI and BIPOC first time homebuyers with forgivable loans.

    Expenses $55,671 · Grants $27,000 · Revenue $640,434

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

Listed in Part VII

  • Gabriel Gomez del Rio III

    CEO

    Total calculated
    $151,625
    From this org
    $151,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,625
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $151,625

  • Steve OConnor

    Director

    Total calculated
    $0
    Hours/week
    1

  • Francis Baffour

    Director

    Total calculated
    $0
    Hours/week
    1

  • Maureen Schimmel

    Director

    Total calculated
    $0
    Hours/week
    0

  • Sara Morgan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Clemente Mojica

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Yamila Assad

    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 · Approval by the board or 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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 September 2023
IRS schema version
2022v5.0
Source object
202312829349300246

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