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← FEDERATION OF APPALACHIAN HOUSING ENTERPRISES INC

Form 990 for tax year 2023

Filed by FEDERATION OF APPALACHIAN HOUSING ENTERPRISES INC.

Totals

Total revenue
$22,418,734
Total expenses
$21,434,216
Contributions and grants received
$16,170,505
Grants paid
$7,759,858
Program service revenue
$5,627,871
Investment income
$601,649
Other revenue
$18,709
Total assets, end of year
$120,890,390
Total liabilities, end of year
$77,110,217
Net assets or fund balances, end of year
$43,780,173
Program services expenses (Part IX)
$19,738,478
Management and general expenses
$587,049
Fundraising expenses
$1,108,689
Program service expenses (Part III)
$19,738,478

Program services were 92.1% 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.

  • 1b · Membership dues

    $26,550

  • 1e · Government grants (contributions)

    $8,111,302

  • 1f · All other contributions, gifts and grants

    $8,032,653

  • 2a · Program service revenue: MORTGAGE AND NOTE INTEREST

    total $3,796,102 · related or exempt $3,796,102

  • 2b · Program service revenue: FEES ADM SERVICE CHARGES

    total $1,775,117 · related or exempt $1,775,117

  • 2c · Program service revenue: GAIN ON SALE OF LOANS

    total $55,391 · related or exempt $55,391

  • 2d · Program service revenue: GAIN ON ACQUISITION OF ASSETS

    total $1,261 · related or exempt $1,261

  • 3 · Investment income

    total $600,164 · excluded $600,164

  • 7a · Gross sales of assets other than inventory

    other assets $1,485

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

    other assets $0

  • 7c · Gain or loss

    other assets $1,485

  • 7d · Net gain or loss

    total $1,485 · excluded $1,485

  • 11d · All other revenue

    total $18,709 · related or exempt $18,709

  • 11e · Other revenue, total

    $18,709

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,759,858 · program services $7,759,858

  • 5 · Compensation of officers, directors and key employees

    total $904,363 · program services $777,768 · management and general $35,272 · fundraising $91,323

  • 7 · Other salaries and wages

    total $5,929,579 · program services $5,099,546 · management and general $231,267 · fundraising $598,766

  • 8 · Pension plan contributions

    total $112,393 · program services $96,660 · management and general $4,384 · fundraising $11,349

  • 9 · Other employee benefits

    total $886,278 · program services $762,215 · management and general $34,567 · fundraising $89,496

  • 10 · Payroll taxes

    total $526,405 · program services $452,718 · management and general $20,531 · fundraising $53,156

  • 11b · Fees: legal

    total $87,569 · program services $48,120 · management and general $13,824 · fundraising $25,625

  • 11c · Fees: accounting

    total $40,372 · program services $22,185 · management and general $6,373 · fundraising $11,814

  • 11g · Fees: other

    total $1,162,593 · program services $1,001,028 · management and general $38,728 · fundraising $122,837

  • 12 · Advertising and promotion

    total $67,611 · program services $64,256 · management and general $368 · fundraising $2,987

  • 13 · Office expenses

    total $356,625 · program services $331,621 · management and general $17,235 · fundraising $7,769

  • 14 · Information technology

    total $212,473 · program services $189,638 · management and general $13,719 · fundraising $9,116

  • 16 · Occupancy

    total $105,234 · program services $72,861 · management and general $31,204 · fundraising $1,169

  • 17 · Travel

    total $315,389 · program services $276,545 · management and general $11,626 · fundraising $27,218

  • 19 · Conferences, conventions and meetings

    total $178,588 · program services $160,884 · management and general $6,516 · fundraising $11,188

  • 20 · Interest

    total $1,890,683 · program services $1,882,869 · management and general $6,729 · fundraising $1,085

  • 22 · Depreciation, depletion and amortization

    total $196,626 · program services $133,425 · management and general $54,423 · fundraising $8,778

  • 23 · Insurance

    total $77,803 · program services $52,795 · management and general $21,535 · fundraising $3,473

  • 24a · Other expenses: KY HOME PROGRAM RECAPTU

    total $246,687 · program services $246,687

  • 24b · Other expenses: EQUIPMENT & MAINTENANCE

    total $195,439 · program services $153,047 · management and general $27,952 · fundraising $14,440

  • 24c · Other expenses: LICENSES, FEES & PERMIT

    total $82,711 · program services $76,443 · management and general $3,520 · fundraising $2,748

  • 24d · Other expenses: SUBSCRIPTIONS

    total $80,866 · program services $60,035 · management and general $6,972 · fundraising $13,859

  • 24e · All other expenses

    total $18,071 · program services $17,274 · management and general $304 · fundraising $493

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,084,638 · end of year $9,209,996

  • 2 · Savings and temporary cash investments

    beginning of year $23,223,361 · end of year $9,803,032

  • 3 · Pledges and grants receivable

    beginning of year $842,938 · end of year $5,305,554

  • 4 · Accounts receivable

    beginning of year $1,217,881 · end of year $983,558

  • 7 · Other notes and loans receivable

    beginning of year $78,308,254 · end of year $91,169,436

  • 9 · Prepaid expenses and deferred charges

    beginning of year $112,276 · end of year $166,257

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

    $4,478,658

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

    $1,613,483

  • 10c · Land, buildings and equipment, net

    beginning of year $2,974,966 · end of year $2,865,175

  • 11 · Investments: publicly traded securities

    beginning of year $112,400 · end of year $112,400

  • 12 · Investments: other securities

    beginning of year $147,967 · end of year $155,513

  • 14 · Intangible assets

    beginning of year $138,952 · end of year $101,890

  • 15 · Other assets

    beginning of year $825,557 · end of year $1,017,579

  • 17 · Accounts payable and accrued expenses

    beginning of year $943,553 · end of year $1,228,887

  • 19 · Deferred revenue

    beginning of year $2,500 · end of year $5,000

  • 21 · Escrow or custodial account liability

    beginning of year $801,911 · end of year $869,113

  • 22 · Loans and payables to officers and key people

    beginning of year $160,000 · end of year $160,000

  • 23 · Secured mortgages and notes payable

    beginning of year $65,500,001 · end of year $69,899,620

  • 25 · Other liabilities

    beginning of year $4,530,430 · end of year $4,947,597

  • 27 · Net assets without donor restrictions

    beginning of year $30,404,675 · end of year $28,104,948

  • 28 · Net assets with donor restrictions

    beginning of year $12,646,120 · end of year $15,675,225

Mission and programs · 2023

Mission

FAHE MAKES A DIFFERENCE BY PROVIDING OPPORTUNITIES TO THE APPALACHIAN REGION, WHICH HAS HISTORICALLY BEEN ONE OF THE MOST IMPOVERISHED IN THE NATION. THESE OPPORTUNITIES POSITIVELY CHANGE THE LIVES OF OVER 80,000 INDIVIDUALS ANNUALLY BY CONNECTING OTHER NON-PROFITS, COMMUNITIES, AND INDIVIDUALS WITH THE RESOURCES THEY NEED TO CREATE BETTER LIVES. THESE RESOURCES INCLUDE FUNDING, PARTNERSHIP, EDUCATION, ADVOCACY, AND CONSULTING. OUR EFFORTS EMPOWER FAMILIES TO TAKE THE STEPS NEEDED TO BUY A HOME, START A BUSINESS, OR ACCESS ESSENTIAL SERVICES FOR THEIR COMMUNITIES. THE PRIMARY WAY IN WHICH FAHE IS ABLE TO SERVE THE REGION SO EFFECTIVELY IS DUE TO ITS MEMBERSHIP NETWORK. WITH 50+ LOCAL NON-PROFIT ORGANIZATIONS ACROSS 6 STATES SERVING AS BOOTS-ON-THE-GROUND COMMUNITY LIAISONS, FAHE IS ABLE TO LEVERAGE ITS EXPERTISE THROUGH LOCAL PARTNERS TO AFFECT CHANGE TO THOSE IN LOCATIONS WHERE TRADITIONAL MARKETS HAVE FAILED.

Activities or mission (Part I)

FAHE BRINGS PEOPLE, ORGANIZATIONS, AND RESOURCES TOGETHER TO BUILD HOMES, COMMUNITIES, AND A THRIVING APPALACHIA THROUGH EXPANDING ECONOMIC OPPORTUNITY AND SECURITY FOR ALL. AS LEADERS WE SPEAK WITH A UNIFIED VOICE TO INFLUENCE POLICY, PHILANTHROPY, AND SYSTEMS CHANGE.

  • STRATEGIC PROGRAMS CONNECTS DIFFERENT ORGANIZATIONS TO SPECIALIZED RESOURCES THAT WILL HELP EXPAND THEIR PROJECTS AND IMPROVE THE QUALITY OF LIFE IN THEIR COMMUNITIES. THIS TEAM MANAGES GRANT FUNDED PROGRAMS SUCH AS THE KENTUCKY ACCESS TO RECOVERY PROGRAM AND PARTNERS FOR RURAL TRANSFORMATION.

    Expenses $12,161,859 · Grants $7,759,858 · Revenue $282,536

  • COMMUNITY LENDING SERVICES - FAHE COUPLES A COMMUNITY LOAN FUND WITH OUTSTANDING LENDING EXPERTISE TO FACILITATE THE FLOW OF IMPACTFUL PRIVATE AND PUBLIC INVESTMENTS INTO HOUSING AND COMMUNITY DEVELOPMENT PROJECTS ACROSS THE REGION.

    Expenses $3,034,322 · Revenue $3,932,019

  • HOME LENDING - JCL IS A FULL-SERVICE MORTGAGE LENDER THAT STRENGTHENS COMMUNITIES BY CREATING SUCCESSFUL HOMEOWNERS. JUSTCHOICE WAS THE FIRST NONPROFIT THIRD PARTY ORIGINATOR FOR FREEDOM AND HAS BEEN INSTRUMENTAL IN CREATING A NATIONAL NONPROFIT PACKAGING SYSTEM FOR USDA RURAL DEVELOPMENT 502 DIRECT LOANS. JCL IS A FANNIE/FREDDIE SELLER/SERVICER AS WELL ALLOWING RURAL REGIONS TO ACCESS CAPITAL THAT COULD BE UNAVAILABLE FROM OTHER LENDERS.

    Expenses $2,185,777 · Revenue $836,191

  • MORTGAGE LENDING - JUSTCHOICE LENDING (JCL) IS A FULL-SERVICE MORTGAGE LENDER THAT STRENGTHENS COMMUNITIES BY CREATING SUCCESSFUL HOMEOWNERS. JUSTCHOICE WAS THE FIRST NONPROFIT THIRD PARTY ORIGINATOR FOR FREEDOM AND HAS BEEN INSTRUMENTAL IN CREATING A NATIONAL NONPROFIT PACKAGING SYSTEM FOR USDA RURAL DEVELOPMENT 502 DIRECT LOANS.

    Revenue $10,860

  • MEMBERSHIP - THE MEMBERSHIP TEAM STRENGTHENS OUR NETWORK BY CONNECTING THE MEMBERS TO EACH OTHER AND TO FAHE'S EXPERTISE AND SERVICES. FAHE'S 50+ MEMBERS IN THE APPALACHIAN PORTION OF KENTUCKY, TENNESSEE, WEST VIRGINIA, VIRGINIA, ALABAMA, AND MARYLAND GET ACCESS TO SPECIALIZED TRAINING, INFORMATION SHARING, FINANCIAL RESOURCES, AND A STRONGER COMBINED POLITICAL VOICE THAT SUPPORTS POSITIVE CHANGE IN THEIR COMMUNITIES.

    Expenses $1,070,967 · Revenue $56,079

  • LOAN SERVICING - FAHE LOAN SERVICING EMPHASIZES QUALITY CUSTOMER CARE AND PERSONALIZED ACCOUNT MANAGEMENT ON THE MORTGAGES WE SERVICE FOR FAHE, OUR PARTNERS, AND OUR BORROWERS. DURING THE YEAR ENDED JUNE 30, 2023, FAHE SERVICED 4,140 LOANS. - FOLLOWING IS A LIST OF STATES WHERE EITHER JCL OR LOAN SERVICING (IN SOME STATES BOTH) ARE LICENSED TO CONDUCT BUSINESS; KENTUCKY, TENNESSEE, INDIANA, FLORIDA, MISSISSIPPI, VIRGINIA, WEST VIRGINIA, MAINE, MICHIGAN, HAWAII, MINNESOTA, SOUTH CAROLINA, ILLINOIS, AND ALABAMA."

    Expenses $1,285,553 · Revenue $528,895

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

Listed in Part VII

  • Adam Dickson

    AT LARGE SEAT

    Total calculated
    $0
    Hours/week
    1

  • Andy Kegley

    VA CAUCUS REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Aron Boldog

    AL CAUCUS REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Christal Crouso

    WV CAUCUS REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Dana Bezerra

    AT LARGE SEAT

    Total calculated
    $0
    Hours/week
    1

  • Diane N Loeffler

    AT LARGE SEAT

    Total calculated
    $0
    Hours/week
    1

  • Donna Gambrell

    AT LARGE SEAT

    Total calculated
    $0
    Hours/week
    1

  • Emily Wilson-Hauger

    WV CAUCUS REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Jackie Mayo

    CHAIRPERSON OF BOARD, TN C

    Total calculated
    $0
    Hours/week
    1

  • Jake Powell

    2ND VICECHAIR VA CAUCUS RE

    Total calculated
    $0
    Hours/week
    1

  • Jeff Mosley

    AT LARGE SEAT

    Total calculated
    $0
    Hours/week
    1

  • Lindy Turner

    TN CAUCUS REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Mary Ellen Judah

    AL CAUCUS REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Scott McReynolds

    VICE CHAIRPERSON OF BOARD

    Total calculated
    $0
    Hours/week
    1

  • Seth Long

    KY CAUCUS REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1

  • Brittney Murphy

    CFO AND TREASURER

    Total calculated
    $153,318
    From this org
    $138,981
    From related orgs
    $0
    Other
    $14,337
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,631
    Bonus
    $350
    Other
    $0
    Deferred
    $5,033
    Nontaxable benefits
    $9,304
    Filer's total
    $153,318

  • Jessica Estes

    SECRETARY OF BOARD

    Total calculated
    $71,615
    From this org
    $62,311
    From related orgs
    $0
    Other
    $9,304
    Hours/week
    40

  • Jim King

    CEO AND PRESIDENT OF BOARD

    Total calculated
    $272,864
    From this org
    $232,096
    From related orgs
    $0
    Other
    $40,768
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,592
    Bonus
    $350
    Other
    $4,154
    Deferred
    $32,435
    Nontaxable benefits
    $8,333
    Filer's total
    $272,864

  • Laura Meadows

    VICE PRESIDENT OF BOARD

    Total calculated
    $143,953
    From this org
    $134,469
    From related orgs
    $0
    Other
    $9,484
    Hours/week
    40

  • Sara Ball

    OUTGOING SECRETARY OF BOARD

    Total calculated
    $0
    Hours/week
    40

  • Sara Morgan

    PRESIDENT OF FAHE, VICE PRESIDENT OF BOARD

    Total calculated
    $195,222
    From this org
    $164,614
    From related orgs
    $0
    Other
    $30,608
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,264
    Bonus
    $350
    Other
    $0
    Deferred
    $21,304
    Nontaxable benefits
    $9,304
    Filer's total
    $195,222

  • Jose Quinonez

    OUTGOING CHIEF OPERATIONS AND STRAT

    Total calculated
    $165,859
    From this org
    $165,859
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,518
    Bonus
    $0
    Other
    $53,341
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $165,859

  • Pam Johnson

    SVP OF INNOVATION

    Total calculated
    $149,759
    From this org
    $135,510
    From related orgs
    $0
    Other
    $14,249
    Hours/week
    40

  • Russell J Estridge

    SVP OF DEVELOPMENT

    Total calculated
    $133,585
    From this org
    $119,924
    From related orgs
    $0
    Other
    $13,661
    Hours/week
    40

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINES 4A-B
LINE 4A: JOSE QUINONEZ: $37,080 LINE 4B: JIM KING: $23,251 SARA MORGAN: $15,834
PART I, LINE 7
AMOUNT INCLUDED ON PART II, B(II), REPRESENTS BONUSES THAT WAS APPROVED BY THE COMPENSATION COMMITTEE. AMOUNT IS INCLUDED IN THE INDIVIDUAL'S W-2.

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.

  • FAHE CAPITAL CORPORATION I

    LIH PROJECT · KY · income $0 · assets $0

    Directly controlled by FAHE

  • FAHE CONSULTING LLC

    CONSULTING · KY · income $0 · assets $0

    Directly controlled by FAHE

  • FAHE HOLDING COMPANY LLC

    PROP. MGMT. · KY · income $66,332 · assets $834,988

    Directly controlled by FAHE

  • FAHE TN LLC

    FIN. FAC. · TN · income $18,505 · assets $3,604,222

    Directly controlled by FAHE

  • PARK COMMUNITY LLC

    LENDING · TN · income $297,561 · assets $7,059,978

    Directly controlled by FAHE

Provenance

Return type
form_990
Tax year
2023
Filed
18 March 2025
IRS schema version
2023v6.0
Source object
202510839349300601

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