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← HEARTSIDE NON-PROFIT HOUSING CORPORATION

Form 990 for tax year 2022

Filed by HEARTSIDE NON-PROFIT HOUSING CORPORATION.

Totals

Total revenue
$892,326
Total expenses
$1,153,543
Contributions and grants received
$513,137
Grants paid
$631,555
Program service revenue
$243,615
Investment income
$135,574
Other revenue
$0
Total assets, end of year
$16,442,374
Total liabilities, end of year
$1,612,665
Net assets or fund balances, end of year
$14,829,709
Program services expenses (Part IX)
$1,120,516
Management and general expenses
$33,027
Fundraising expenses
$0
Program service expenses (Part III)
$1,120,516

Program services were 97.1% 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.

  • 1d · Related organizations

    $39,044

  • 1e · Government grants (contributions)

    $474,093

  • 2a · Program service revenue: RENTAL INCOME

    total $224,955 · related or exempt $224,955

  • 2b · Program service revenue: COMMERCIAL RENTAL

    total $18,660 · related or exempt $18,660

  • 3 · Investment income

    total $135,574 · excluded $135,574

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $631,555 · program services $631,555

  • 11a · Fees: management

    total $63,054 · program services $50,128 · management and general $12,926

  • 11b · Fees: legal

    total $2,522 · management and general $2,522

  • 11c · Fees: accounting

    total $9,410 · management and general $9,410

  • 11g · Fees: other

    total $1,377 · program services $138 · management and general $1,239

  • 13 · Office expenses

    total $2,454 · program services $215 · management and general $2,239

  • 14 · Information technology

    total $4,459 · management and general $4,459

  • 16 · Occupancy

    total $40,468 · program services $40,468

  • 17 · Travel

    total $120 · management and general $120

  • 19 · Conferences, conventions and meetings

    total $112 · management and general $112

  • 20 · Interest

    total $31,633 · program services $31,633

  • 22 · Depreciation, depletion and amortization

    total $233,608 · program services $233,608

  • 23 · Insurance

    total $14,654 · program services $14,654

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $114,725 · program services $114,725

  • 24b · Other expenses: MISCELLANEOUS

    total $3,392 · program services $3,392

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $142,576 · end of year $151,560

  • 4 · Accounts receivable

    beginning of year $5,122 · end of year $5,313

  • 7 · Other notes and loans receivable

    beginning of year $9,118,394 · end of year $9,096,366

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,332 · end of year $8,602

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

    $7,606,555

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

    $3,700,159

  • 10c · Land, buildings and equipment, net

    beginning of year $4,166,411 · end of year $3,906,396

  • 13 · Investments: program-related

    beginning of year $3,274,137 · end of year $3,274,137

  • 17 · Accounts payable and accrued expenses

    beginning of year $70,330 · end of year $128,395

  • 19 · Deferred revenue

    beginning of year $5,748 · end of year $3,928

  • 25 · Other liabilities

    beginning of year $1,540,968 · end of year $1,480,342

  • 27 · Net assets without donor restrictions

    beginning of year $15,090,926 · end of year $14,829,709

Mission and programs · 2022

Mission

HEARTSIDE NONPROFIT HOUSING CORPORATION DEVELOPS RESIDENTIAL HOUSING FOR LOW AND MODERATE INCOME FAMILIES AND INDIVIDUALS.

Activities or mission (Part I)

ORGANIZED EXCLUSIVELY TO PROVIDE HOUSING FACILITIES FOR PERSONS OF LOW AND MODERATE INCOME AND TO CARRY ON ANY BUSINESS IN CONNECTION THEREWITH.

  • DEVELOP AND OPERATE RESIDENTIAL HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS.

    Expenses $1,120,516 · Grants $631,555 · Revenue $243,615

As filed on the 2022 return.

Listed in Part VII

  • Lee Nelson Weber

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Juan Daniel Castro

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sadie Malady

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Renee Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jeremy Deroo

    PRESIDENT

    Total calculated
    $210,036
    From this org
    $0
    From related orgs
    $192,225
    Other
    $17,811
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,225 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $2,338 related
    Nontaxable benefits
    $0 + $15,473 related
    Filer's total
    $0 + $210,036 related

  • Steve Recker

    CHIEF FINANCE OFFICER

    Total calculated
    $181,498
    From this org
    $0
    From related orgs
    $166,564
    Other
    $14,934
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,564 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,292 related
    Nontaxable benefits
    $0 + $6,642 related
    Filer's total
    $0 + $181,498 related

  • Kim Cross

    CHIEF OPERATING OFFICER

    Total calculated
    $186,481
    From this org
    $0
    From related orgs
    $171,723
    Other
    $14,758
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,723 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,524 related
    Nontaxable benefits
    $0 + $6,234 related
    Filer's total
    $0 + $186,481 related

  • Alonda Trammell-Miller

    CHIEF SERVICES OFFICER

    Total calculated
    $95,005
    From this org
    $0
    From related orgs
    $91,132
    Other
    $3,873
    Hours/week
    1 + 40 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

None.

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
SALARIES ARE DETERMINED BY A RELATED ORGANIZATION, DWELLING PLACE OF GRAND RAPIDS NPHC. SALARIES ARE DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. DWELLING PLACE PERIODICALLY PERFORMS A SALARY STUDY BASED ON COMPARABLE DATA FROM OUTSIDE SOURCES SPECIFIC TO NON-PROFITS AND/OR REAL ESATE/HOUSING MANAGEMENT INDUSTRY. THE DATA FROM THESE STUDIES AS WELL AS PERFORMANCE REVIEWS PROVIDE A BASIS FOR THE EXECUTIVE COMMITTEE'S SALARY DECISIONS.

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

  • HERKIMER COMMERCE LIMITED DIVIDEND HOUSING ASSOCIATION

    $235,871

    TO ASSIST HERKIMER COMMERCE LDHA IN PROVIDING LOW INCOME HOUSING.

  • KBC LIMITED DIVIDEND HOUSING ASSOCIATION

    $158,720

    TO ASSIST KBC LIMITED DIVIDEND HOUSING ASSOCIATION IN PROVIDING LOW INCOME HOUSING.

  • DWELLING PLACE OF GRAND RAPIDS

    $79,502

    TO ASSIST DWELLING PLACE OF GRAND RAPIDS IN PROVIDING LOW INCOME HOUSING.

  • NEW HOPE HOMES LIMITED DIVIDEND HOUSING ASSOCIATION LP

    $0

    TO ASSIST NEW HOPE HOMES LIMITED DIVIDEND HOUSING ASSOCIATION LP IN PROVIDING LOW INCOME HOUSING

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.

  • ELMDALE NONPROFIT HOUSING CORPORATION

    501(C)(3) · OPERATE RESIDENTIAL HOUSING FOR LOW-INCOME INDIVIDUALS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NPHC

  • DWELLING PLACE OF GRAND RAPIDS NPHC

    501(C)(3) · PROVIDING SUPPORT SERVICES AND REVITALIZING NEIGHBORHOODS · MI

  • DWELLING PLACE FOUNDATION

    501(C)(3) · COLLECT ENDOWMENT CONTRIBUTIONS TO SUPPORT DWELLING PLACE OF GRAND RAPIDS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NPHC

  • DWELLING PLACE COMMUNITY LAND TRUST

    501(C)(3) · CREATE AND PRESERVE PERMANENT SUPPLY OF AFFORDABLE HOMES · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NPHC

  • SAWKAW INC

    501(C)(4) · TO PROVIDE AFFORDABLE HOUSING FOR ELDERLY AND DISABLED INDIVIDUALS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NPHC

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.

  • MARTINEAU HOLDINGS LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MI · income $243,755 · assets $4,046,405

    Directly controlled by HEARTSIDE NONPROFIT HOUSING CORPORATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 44 IONIA LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI · 0.01% owned · share of income -$40 · share of assets $666 · general or managing partner

    Directly controlled by HEARTSIDE NONPROFIT HOUSING CORPORATION

  • 44 IONIA LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI · 0.01% owned · share of income -$40 · share of assets $25

    Directly controlled by HEARTSIDE NONPROFIT HOUSING CORPORATION

  • BRIDGE ST LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by BRIDGE ST NONPROFIT HOUSING CORPORATION

  • DWELLING PLACE RURAL LIMITED DIVIDEND HOUSING ASSOCIATION LP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DWELLING PLACE RURAL NONPROFIT HOUSING CORPORATION

  • FERGUSON HEARTSIDE LIMITED DIVIDEND HOUSING ASSOCIATION LP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by FERGUSON HEARTSIDE NONPROFIT HOUSING CORPORATION

  • GOODRICH LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by GOODRICH NONPROFIT HOUSING CORPORATION

  • GRANDVILLE HEARTSIDE LIMITED DIVIDEND HOUSING ASSOCIATION LP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by GRANDVILLE HEARTSIDE NONPROFIT HOUSING CORPORATION

  • HALL STREET LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HALL STREET NONPROFIT HOUSING CORPORATION

  • HARVEST HILL LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DWELLING PLACE RURAL NONPROFIT HOUSING CORPORATION

  • HERKIMER APARTMENTS LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHI

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HERKIMER APARTMENTS NONPROFIT HOUSING CORPORATION

  • HERKIMER COMMERCE LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HERKIMER APARTMENTS NONPROFIT HOUSING CORPORATION

  • HPFH LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HPFH NONPROFIT HOUSING CORPORATION

  • KBC LIMITED DIVIDEND HOUSING ASSOCIATION LP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by KBC NONPROFIT HOUSING CORPORATION

  • KELSEY LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by KELSEY NONPROFIT HOUSING CORPORATION

  • LCH 36 LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by LCH 36 NONPROFIT HOUSING CORPORATION

  • LIBERTY LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by LIBERTY NONPROFIT HOUSING CORPORATION

  • NEW HOPE HOMES LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by NEW HOPE HOMES NONPROFIT HOUSING CORPORATION

  • PINE AVENUE LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by PINE AVENUE NONPROFIT HOUSING CORPORATION

  • PLAZA FRANKLIN LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DP FRANKLIN LLC

  • PLAZA GRANDVILLE LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DP GRANDVILLE LLC

  • ROOSEVELT LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTERNSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by ROOSEVELT NONPROFIT HOUSING CORPORATION

  • WHITEHALL DP LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DWELLING PLACE RURAL NONPROFIT HOUSING CORPORATION

  • FERGUSON APARTMENTS LIMITED DIVIDEND HOUSING ASSOCIATION LLC

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by NEW FERGUSON LLC

Related corporations and trusts

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

  • KBC NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI · 100% owned · share of income $6 · share of assets $931,305 · controlled entity

    Directly controlled by HEARTSIDE NONPROFIT HOUSING CORPORATION

  • GOODRICH NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • LIBERTY NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • BRIDGE STREET NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • DP RURAL NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • SHELDON-WESTON INC

    C · LOW INCOME HOUSING · MI

  • FERGUSON-HEARTSIDE NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • KELSEY NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • HALL STREET NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • HERKIMER APARTMENTS NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • LCH 36 NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • ROOSEVELT NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • HERKIMER CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • MARTINEAU CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • 101 SHELDON CONDOMINIUM ASSOCIATON

    C · LOW INCOME HOUSING · MI

  • ROOSEVELT CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • HPFH NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • PINE AVENUE NONPROFIT HOUSING CORPORATION

    C · LOW INCOME HOUSING · MI

  • DP FRANKLIN LLC

    C · LOW INCOME HOUSING · MI

  • DP GRANDVILLE LLC

    C · LOW INCOME HOUSING · MI

  • NEW FERGUSON LLC

    C · LOW INCOME HOUSING · MI

  • FERGUSON CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • MARTINEAU 120 CLT CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • MARTINEAU 106 CLT CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • PLAZA GRANDVILLE CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

Provenance

Return type
form_990
Tax year
2022
Filed
29 September 2023
IRS schema version
2022v5.0
Source object
202322829349300442

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