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← NAVIGATE AFFORDABLE HOUSING PARTNERS INC

Form 990 for tax year 2023

Filed by NAVIGATE AFFORDABLE HOUSING PARTNERS INC.

Totals

Total revenue
$834,291,941
Total expenses
$824,241,747
Contributions and grants received
$804,554,956
Grants paid
$808,704,875
Program service revenue
$26,827,973
Investment income
$2,571,650
Other revenue
$337,362
Total assets, end of year
$81,769,316
Total liabilities, end of year
$3,119,869
Net assets or fund balances, end of year
$78,649,447
Program services expenses (Part IX)
$819,521,999
Management and general expenses
$4,719,748
Fundraising expenses
$0
Program service expenses (Part III)
$819,521,999

Program services were 99.4% 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)

    $804,554,956

  • 2a · Program service revenue: HUD MANAGEMENT FEES

    total $25,485,951 · related or exempt $25,485,951

  • 2b · Program service revenue: TENANT RENTAL REVENUE

    total $1,342,022 · related or exempt $1,342,022

  • 3 · Investment income

    total $2,571,650 · excluded $2,571,650

  • 11a · Other revenue: OTHER INCOME

    total $337,362 · excluded $337,362

  • 11e · Other revenue, total

    $337,362

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,149,919 · program services $4,149,919

  • 2 · Grants to domestic individuals

    total $804,554,956 · program services $804,554,956

  • 5 · Compensation of officers, directors and key employees

    total $784,826 · program services $588,620 · management and general $196,206

  • 7 · Other salaries and wages

    total $5,088,083 · program services $3,816,062 · management and general $1,272,021

  • 8 · Pension plan contributions

    total $618,572 · program services $463,929 · management and general $154,643

  • 9 · Other employee benefits

    total $1,054,241 · program services $790,680 · management and general $263,561

  • 11a · Fees: management

    total $80,961 · program services $60,721 · management and general $20,240

  • 11b · Fees: legal

    total $1,103,680 · program services $220,736 · management and general $882,944

  • 11c · Fees: accounting

    total $82,780 · management and general $82,780

  • 11d · Fees: lobbying

    total $240,000 · management and general $240,000

  • 12 · Advertising and promotion

    total $54,316 · program services $54,316

  • 13 · Office expenses

    total $118,059 · program services $88,544 · management and general $29,515

  • 16 · Occupancy

    total $3,291,449 · program services $2,468,587 · management and general $822,862

  • 17 · Travel

    total $375,969 · program services $281,977 · management and general $93,992

  • 22 · Depreciation, depletion and amortization

    total $648,567 · program services $486,425 · management and general $162,142

  • 23 · Insurance

    total $473,610 · program services $355,208 · management and general $118,402

  • 24a · Other expenses: OTHER EXPENSES

    total $1,521,759 · program services $1,141,319 · management and general $380,440

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $46,268,160 · end of year $4,425,517

  • 2 · Savings and temporary cash investments

    beginning of year $7,931,266 · end of year $1,102,715

  • 3 · Pledges and grants receivable

    beginning of year $96,335 · end of year $4,635,229

  • 4 · Accounts receivable

    end of year $404,994

  • 7 · Other notes and loans receivable

    beginning of year $411,124 · end of year $276,344

  • 9 · Prepaid expenses and deferred charges

    beginning of year $328,596 · end of year $286,191

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

    $20,841,581

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

    $2,600,386

  • 10c · Land, buildings and equipment, net

    beginning of year $17,016,108 · end of year $18,241,195

  • 12 · Investments: other securities

    end of year $52,345,985

  • 15 · Other assets

    beginning of year $265,235 · end of year $51,146

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,083,583 · end of year $788,605

  • 18 · Grants payable

    beginning of year $2,375,000 · end of year $2,287,386

  • 19 · Deferred revenue

    end of year $4,896

  • 25 · Other liabilities

    beginning of year $258,988 · end of year $38,982

  • 27 · Net assets without donor restrictions

    beginning of year $67,306,595 · end of year $77,331,424

  • 28 · Net assets with donor restrictions

    beginning of year $1,292,658 · end of year $1,318,023

Mission and programs · 2023

Mission

TO DEVELOP AND ENHANCE SAFE, DECENT, SANITARY, AND AFFORDABLE HOUSING BY PROVIDING COURTEOUS, PROFESSIONAL AND ACCURATE SERVICES.

Activities or mission (Part I)

TO DEVELOP AND ENHANCE SAFE, DECENT, SANITARY, AND AFFORDABLE HOUSING BY PROVIDING COURTEOUS, PROFESSIONAL, AND ACCURATE SERVICES.

  • LOW INCOME, MULTIFAMILY UNITS EITHER OCCUPIED OR UNDER CONSTRUCTION AND VARIOUS OTHER ANCILLARY FACILITIES SUCH AS LAUNDROMAT, RECREATION BUILDING, ETC. ALSO PROVIDE MANAGEMENT SERVICES FOR HUD IN FOUR STATES.

    Expenses $819,521,999 · Grants $808,704,875 · Revenue $26,827,973

As filed on the 2023 return.

Listed in Part VII

  • Spencer Ragland

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Hugo Isom

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lenus M Perkins

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Teresa Shufflebarger

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Perry Shuttlesworth

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lisa M McCarroll

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $353,844
    From this org
    $308,537
    From related orgs
    $0
    Other
    $45,307
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $308,537
    Bonus
    $0
    Other
    $0
    Deferred
    $37,401
    Nontaxable benefits
    $7,906
    Filer's total
    $353,844

  • Julie L Reynolds

    CHIEF OPERATING OFFICER

    Total calculated
    $344,293
    From this org
    $294,268
    From related orgs
    $0
    Other
    $50,025
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,268
    Bonus
    $0
    Other
    $0
    Deferred
    $36,345
    Nontaxable benefits
    $13,680
    Filer's total
    $344,293

  • Lashunda D Baldwin

    HIGHLY COMPENSATED EMPLOYEE

    Total calculated
    $165,006
    From this org
    $133,045
    From related orgs
    $0
    Other
    $31,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,045
    Bonus
    $0
    Other
    $0
    Deferred
    $17,500
    Nontaxable benefits
    $14,461
    Filer's total
    $165,006

  • Nathaniel Greathree

    HIGHLY COMPENSATED EMPLOYEE

    Total calculated
    $173,861
    From this org
    $139,495
    From related orgs
    $0
    Other
    $34,366
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,495
    Bonus
    $0
    Other
    $0
    Deferred
    $17,381
    Nontaxable benefits
    $16,985
    Filer's total
    $173,861

  • Thomas P Gerundo

    HIGHLY COMPENSATED EMPLOYEE

    Total calculated
    $218,489
    From this org
    $176,641
    From related orgs
    $0
    Other
    $41,848
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,641
    Bonus
    $0
    Other
    $0
    Deferred
    $21,952
    Nontaxable benefits
    $19,896
    Filer's total
    $218,489

  • Robert J McLaughlin

    HIGHLY COMPENSATED EMPLOYEE

    Total calculated
    $185,159
    From this org
    $146,519
    From related orgs
    $0
    Other
    $38,640
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,519
    Bonus
    $0
    Other
    $0
    Deferred
    $18,791
    Nontaxable benefits
    $19,849
    Filer's total
    $185,159

  • Tim Shearer

    HIGHLY COMPENSATED EMPLOYEE

    Total calculated
    $173,968
    From this org
    $148,177
    From related orgs
    $0
    Other
    $25,791
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,177
    Bonus
    $0
    Other
    $0
    Deferred
    $18,052
    Nontaxable benefits
    $7,739
    Filer's total
    $173,968

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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 5
PERFORMANCE PAY TIED TO PERCENTAGE OF AVAILABLE ADMINISTRATIVE FEES EARNED FOR CONTRACT ADMINISTRATION.

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.

  • NAVIGATE COMMUNITIES LLC

    PURSUE NEW HOUSING OPPORTUNITIES. · AL · income $102,275 · assets $4,470,515

    Directly controlled by NAVIGATE AFFORDABLE HOUSING PARTNERS INC

  • NAVIGATE COMMUNITIES FOUR WINDS EAST LLC

    LOW-INCOME HOUSING PROPERTIES. · AL · income $139,347 · assets $558,584

    Directly controlled by NAVIGATE AFFORDABLE HOUSING PARTNERS INC

  • NAVIGATE ASSET MANAGEMENT LLC

    PURSUE NEW HOUSING OPPORTUNITIES. · AL · income $88,025 · assets $29,943

    Directly controlled by NAVIGATE AFFORDABLE HOUSING PARTNERS INC

  • NAVIGATE COMMUNITIES ST CHARLES VILLAS LLC

    LOW-INCOME HOUSING PROPERTIES. · AL · income $5,377,538 · assets $4,272,566

    Directly controlled by NAVIGATE AFFORDABLE HOUSING PARTNERS INC

  • THE COMMUNITY REVITALIZATION FUND LLC

    PROVIDE GRANTS OR LOANS TO QUALIFIED NON-PROFITS. · AL · income $66,523 · assets $302,370

    Directly controlled by NAVIGATE AFFORDABLE HOUSING PARTNERS INC

  • MARC STEEL HOLDING LLC

    PURCHASE AND HOLD COMMERCIAL PROPERTY IN N. TITUSVILLE FOR DEVELOPEMENT. · AL · income $15,278 · assets $7,118,954

    Directly controlled by NAVIGATE AFFORDABLE HOUSING PARTNERS INC

  • 5TH AVENUE HOLDINGS LLC

    PURCHASE AND DEVELOP MULTI-FAMILY HOUSING. · AL · income $7,045 · assets $1,446,293

    Directly controlled by NAVIGATE AFFORDABLE HOUSING PARTNERS INC

Provenance

Return type
form_990
Tax year
2023
Filed
27 September 2024
IRS schema version
2023v5.1
Source object
202442849349301319

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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