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Nonprofiteer
← NEW DIRECTIONS HOUSING CORPORATION

Form 990 for tax year 2023

Filed by NEW DIRECTIONS HOUSING CORPORATION.

Totals

Total revenue
$17,060,814
Total expenses
$14,002,803
Contributions and grants received
$5,841,310
Grants paid
$0
Program service revenue
$10,650,173
Investment income
$632,552
Other revenue
-$63,221
Total assets, end of year
$38,270,818
Total liabilities, end of year
$14,342,172
Net assets or fund balances, end of year
$23,928,646
Program services expenses (Part IX)
$12,638,821
Management and general expenses
$1,103,768
Fundraising expenses
$260,214
Program service expenses (Part III)
$12,638,821

Program services were 90.3% 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.

  • 1a · Federated campaigns

    $76,410

  • 1c · Fundraising events

    $83,271

  • 1e · Government grants (contributions)

    $2,516,619

  • 1f · All other contributions, gifts and grants

    $3,165,010

  • 1g · Noncash contributions included above

    $322

  • 2a · Program service revenue: PROPERTY MANAGEMENT

    total $6,125,618 · related or exempt $6,125,618

  • 2b · Program service revenue: HOUSING DEVELOPMENT

    total $4,524,555 · related or exempt $4,524,555

  • 3 · Investment income

    total $881,328 · excluded $881,328

  • 7a · Gross sales of assets other than inventory

    other assets $212,683

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

    other assets $461,459

  • 7c · Gain or loss

    other assets -$248,776

  • 7d · Net gain or loss

    total -$248,776 · excluded -$248,776

  • 8a · Fundraising events: gross income

    $9,785

  • 8a · Fundraising events: contributions included on line 1c

    $83,271

  • 8b · Fundraising events: direct expenses

    $89,480

  • 8c · Net income from fundraising events

    total -$79,695 · excluded -$79,695

  • 11a · Other revenue: DEBT FORGIVENESS

    total $16,474 · excluded $16,474

  • 11e · Other revenue, total

    $16,474

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $923,151 · program services $729,266 · management and general $150,873 · fundraising $43,012

  • 7 · Other salaries and wages

    total $3,443,534 · program services $2,707,593 · management and general $571,301 · fundraising $164,640

  • 8 · Pension plan contributions

    total $36,002 · program services $23,543 · management and general $9,572 · fundraising $2,887

  • 9 · Other employee benefits

    total $219,906 · program services $191,558 · management and general $23,527 · fundraising $4,821

  • 10 · Payroll taxes

    total $316,843 · program services $250,028 · management and general $51,383 · fundraising $15,432

  • 11b · Fees: legal

    total $26,089 · program services $14,364 · management and general $11,725

  • 11c · Fees: accounting

    total $85,487 · program services $79,097 · management and general $6,390

  • 11g · Fees: other

    total $34,504 · program services $16,343 · management and general $11,323 · fundraising $6,838

  • 12 · Advertising and promotion

    total $57,096 · program services $55,516 · fundraising $1,580

  • 13 · Office expenses

    total $175,834 · program services $130,599 · management and general $39,030 · fundraising $6,205

  • 14 · Information technology

    total $46,024 · program services $36,190 · management and general $2,370 · fundraising $7,464

  • 16 · Occupancy

    total $6,345,997 · program services $6,258,666 · management and general $86,797 · fundraising $534

  • 19 · Conferences, conventions and meetings

    total $73,911 · program services $54,656 · management and general $13,204 · fundraising $6,051

  • 20 · Interest

    total $460,817 · program services $400,112 · management and general $60,705

  • 22 · Depreciation, depletion and amortization

    total $837,569 · program services $797,073 · management and general $40,213 · fundraising $283

  • 23 · Insurance

    total $586,928 · program services $566,935 · management and general $19,993

  • 24a · Other expenses: BAD DEBTS

    total $86,622 · program services $86,622

  • 24b · Other expenses: DIRECT ASSISTANCE

    total $44,500 · program services $44,500

  • 24c · Other expenses: EVENTS/VOLUNTEERS

    total $31,439 · program services $30,689 · management and general $750

  • 24e · All other expenses

    total $170,550 · program services $165,471 · management and general $4,612 · fundraising $467

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,184,983 · end of year $1,219,215

  • 2 · Savings and temporary cash investments

    beginning of year $519,211 · end of year $656,391

  • 3 · Pledges and grants receivable

    beginning of year $26,169 · end of year $339,714

  • 4 · Accounts receivable

    beginning of year $1,427,280 · end of year $5,577,475

  • 7 · Other notes and loans receivable

    beginning of year $14,606,007 · end of year $15,390,360

  • 9 · Prepaid expenses and deferred charges

    beginning of year $201,469 · end of year $63,217

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

    $30,021,848

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

    $16,964,300

  • 10c · Land, buildings and equipment, net

    beginning of year $12,419,260 · end of year $13,057,548

  • 15 · Other assets

    beginning of year $1,266,756 · end of year $1,966,898

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,545,950 · end of year $1,709,792

  • 19 · Deferred revenue

    beginning of year $88,903 · end of year $133,055

  • 23 · Secured mortgages and notes payable

    beginning of year $10,306,518 · end of year $11,720,951

  • 24 · Unsecured notes and loans payable

    beginning of year $728,335 · end of year $628,335

  • 25 · Other liabilities

    beginning of year $110,794 · end of year $150,039

  • 27 · Net assets without donor restrictions

    beginning of year $20,040,269 · end of year $23,068,632

  • 28 · Net assets with donor restrictions

    beginning of year $830,366 · end of year $860,014

Mission and programs · 2023

Mission

NEW DIRECTIONS HOUSING CORPORATION DEVELOPS AND MAINTAINS AFFORDABLE HOUSING AND HELPS TO CREATE VITAL COMMUNITIES IN PARTNERSHIP WITH NEIGHBORS AND OTHER STAKEHOLDERS.

Activities or mission (Part I)

NEW DIRECTIONS DEVELOPS AND MANAGES AFFORDABLE HOUSING FOR LOW-INCOME EARNERS. WE ALSO CONDUCT HOME OWNERSHIP PRESERVATION PROGRAMS UTILIZING VOLUNTEERS AND RESOURCES FROM VARIOUS SOURCES TO DO ESSENTIAL HOME REPAIRS THAT ENABLE THEM TO MORE SAFELY STAY IN THEIR RESIDENCE.

  • RENTAL PROPERTIES - PROVIDE SHELTER AND SITE-BASED SOCIAL AND EDUCATIONAL SERVICES TO AID LOW-INCOME INDIVIDUALS. NEW DIRECTIONS CONNECTS RESIDENTS TO THE RESOURCES THEY NEED TO MEET THEIR GOALS IN LIFE, INCLUDING SOCIAL SERVICES, YOUTH PROGRAMMING, COACHING, AND GROUP INFORMATIONAL SESSIONS.

    Expenses $4,778,273 · Revenue $4,728,869

  • ASSET AND PROPERTY MANAGEMENT - MAINTAIN AND PRESERVE RENTAL HOUSING TO HELP LOW-INCOME HOUSEHOLDS. NEW DIRECTIONS PROVIDES CLEAN, SAFE, AFFORDABLE, QUALITY HOUSING FOR MORE THAN 900 FAMILIES AND 1,800 INDIVIDUALS OF LOW INCOME, INCLUDING CHILDREN AND SENIORS, IN OUR COMMUNITY'S MOST ECONOMICALLY DISADVANTAGED NEIGHBORHOODS.

    Expenses $2,738,052 · Revenue $5,921,304

  • HOME OWNERSHIP PRESERVATION - INCREASE AND PRESERVE AFFORDABLE HOUSING, PRIMARILY IN LOUISVILLE'S WEST END NEIGHBORHOODS. NEW DIRECTIONS MOBILIZES COMMUNITY-WIDE RESOURCES AND HAD 1,090 VOLUNTEERS THIS FISCAL YEAR TO ASSIST LOW TO MODERATE INCOME SENIORS AND DISABLED HOMEOWNERS WITH ESSENTIAL HOME REPAIRS. IN ADDITION, WE PROVIDE LOW TO MODERATE INCOME HOMEOWNERS WITH LARGER HOME REPAIR OPPORTUNITIES THROUGH LOW-INTEREST OR FORGIVABLE LOANS TO PREVENT AND COMBAT THE ISSUE OF VACANT AND ABANDONED PROPERTIES IN OUR CITY.

    Expenses $4,272,182

  • RESIDENT SERVICES, REAL ESTATE DEVELOPMENT, COMMUNITY BUILDING AND ENGAGEMENT, AND EARLY CHILDHOOD DEVELOPMENT.

    Expenses $850,314

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

Listed in Part VII

  • Zach Wedding

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kurt Mason

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Tonya Montgomery

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Elizabeth Rauch

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Tricia Burke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Stachelle Bussey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Heather M Dearing

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Keisha Dorsey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Gordon C Duke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Darrell Fuller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Kathryn Giles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Zan Glover

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Adam Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Gretchen Leiterman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Brent Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Andrew Pleasant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Jennifer Recktenwald

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Sheri Rose

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • W Alfred Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Rita Ward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Faith Weekly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Markus Winkler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Lori Flanery

    PRESIDENT/CEO

    Total calculated
    $192,645
    From this org
    $187,034
    From related orgs
    $0
    Other
    $5,611
    Hours/week
    40 + 0.75 related

    Schedule J breakdown matched by us

    Base
    $187,034
    Bonus
    $0
    Other
    $0
    Deferred
    $5,611
    Nontaxable benefits
    $0
    Filer's total
    $192,645

  • Bridgette Johnson

    COO

    Total calculated
    $163,476
    From this org
    $152,332
    From related orgs
    $0
    Other
    $11,144
    Hours/week
    40 + 0.75 related

    Schedule J breakdown matched by us

    Base
    $152,332
    Bonus
    $0
    Other
    $0
    Deferred
    $4,570
    Nontaxable benefits
    $6,574
    Filer's total
    $163,476

  • Kathleen McKune

    CRO

    Total calculated
    $153,559
    From this org
    $146,985
    From related orgs
    $0
    Other
    $6,574
    Hours/week
    40 + 0.75 related

    Schedule J breakdown matched by us

    Base
    $146,985
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,574
    Filer's total
    $153,559

  • Christopher Roszman

    CFO

    Total calculated
    $120,974
    From this org
    $120,974
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 0.75 related

  • David Snyder

    CDO

    Total calculated
    $128,526
    From this org
    $118,849
    From related orgs
    $0
    Other
    $9,677
    Hours/week
    40 + 0.75 related

  • George Sanders

    CIO

    Total calculated
    $108,441
    From this org
    $98,900
    From related orgs
    $0
    Other
    $9,541
    Hours/week
    40 + 0.75 related

  • John Beran

    CSO

    Total calculated
    $33,195
    From this org
    $23,522
    From related orgs
    $0
    Other
    $9,673
    Hours/week
    40 + 0.75 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

  • 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.

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.

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.

  • BRANDEIS APTS LLC

    HOUSING DEVELOPMENT · KY · income $474,260 · assets $886,930

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • DIRECTIONS APARTMENTS LLC

    HOUSING DEVELOPMENT · KY · income $953,593 · assets $2,097,847

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • NDHC DEVELOPMENT LLC

    HOUSING DEVELOPMENT · KY · income $0 · assets $0

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • NEW DIRECTIONS HOUSING DEVELOPMENT LLC

    HOUSING DEVELOPMENT · KY · income $0 · assets $0

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • NEW DIRECTIONS PORTLAND LLC

    HOUSING DEVELOPMENT · KY · income $0 · assets $0

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • REESER COURT APTS LLC

    HOUSING DEVELOPMENT · KY · income $530,473 · assets $1,783,902

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • RUSSELL APARTMENTS LLC

    HOUSING DEVELOPMENT · KY · income $2,074,652 · assets $3,822,590

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • SMOKETOWN APT LLC

    HOUSING DEVELOPMENT · KY · income $283,647 · assets $482,064

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • SMOKETOWN HOUSING IMPROVEMENT CORPORATION

    HOUSING DEVELOPMENT · KY · income $0 · assets $0

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

Related partnerships

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

  • JACKSON WOODS APARTMENTS LLLP

    HOUSING DEVELOPMENT · KY · general or managing partner

  • ROOSEVELT APARTMENTS LLLP

    HOUSING DEVELOPMENT · KY

  • RUSSELL RENAIASSANCE APRTMENTS LLLP

    HOUSING DEVELOPMENT · KY · general or managing partner

  • SHAWNEE RENAISSANCE APARTMENTS LLLP

    RELATED · HOUSING DEVELOPMENT · KY · general or managing partner

    Directly controlled by SHAWNEE RENAISSANCE GP LLC

  • ST WILLIAM APARTMENTS LLLP

    HOUSING DEVELOPMENT · KY · general or managing partner

  • WOODBOURNE HOUSE APARTMENTS LLLP

    HOUSING DEVELOPMENT · KY · general or managing partner

Related corporations and trusts

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

  • JACKSON WOODS APARTMENTS NDHC GP LLC

    C · HOUSING DEVELOPMENT · KY · 100% owned · share of income $97,342 · controlled entity

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • RUSSELL RENAISSANCE GP LLC

    C · HOUSING DEVELOPMENT · KY · 100% owned · controlled entity

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • ST WILLIAM APARTMENTS NDHC GP LLC

    C · HOUSING DEVELOPMENT · KY · 100% owned · share of income $1 · controlled entity

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

  • WH GP INC

    C · HOUSING DEVELOPMENT · KY · 100% owned · controlled entity

    Directly controlled by NEW DIRECTIONS HOUSING CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202501349349310025

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