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Nonprofiteer
← NHS LENDING INC

Form 990 for tax year 2024

Filed by NHS LENDING INC.

Totals

Total revenue
$268,002
Total expenses
$502,258
Contributions and grants received
$112,101
Grants paid
$0
Program service revenue
$141,238
Investment income
$14,663
Other revenue
$0
Total assets, end of year
$4,845,884
Total liabilities, end of year
$426,834
Net assets or fund balances, end of year
$4,419,050
Program services expenses (Part IX)
$401,984
Management and general expenses
$60,388
Fundraising expenses
$39,886
Program service expenses (Part III)
$401,984

Program services were 80.0% 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)

    $37,101

  • 1f · All other contributions, gifts and grants

    $75,000

  • 2a · Program service revenue: AFFORDABLE HOUSING

    total $141,238 · related or exempt $141,238

  • 3 · Investment income

    total $14,663 · excluded $14,663

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $208,886 · program services $176,226 · management and general $9,367 · fundraising $23,293

  • 8 · Pension plan contributions

    total $2,016 · program services $1,813 · management and general $131 · fundraising $72

  • 9 · Other employee benefits

    total $1,392 · program services $1,175 · management and general $62 · fundraising $155

  • 10 · Payroll taxes

    total $9,903 · program services $8,133 · management and general $510 · fundraising $1,260

  • 11c · Fees: accounting

    total $9,758 · management and general $9,758

  • 11g · Fees: other

    total $53,252 · program services $18,441 · management and general $24,458 · fundraising $10,353

  • 12 · Advertising and promotion

    total $17,397 · program services $6,005 · management and general $7,115 · fundraising $4,277

  • 13 · Office expenses

    total $26,570 · program services $20,313 · management and general $5,868 · fundraising $389

  • 17 · Travel

    total $5,794 · program services $4,429 · management and general $1,280 · fundraising $85

  • 20 · Interest

    total $6,000 · program services $4,188 · management and general $1,812

  • 24a · Other expenses: PROPERTY OPERATIONS

    total $111,699 · program services $111,699

  • 24b · Other expenses: PROGRAM EXPENSE

    total $49,468 · program services $49,468

  • 24c · Other expenses: COMMUNICATIONS

    total $123 · program services $94 · management and general $27 · fundraising $2

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,817,330 · end of year $1,712,025

  • 2 · Savings and temporary cash investments

    beginning of year $193,026 · end of year $93,257

  • 4 · Accounts receivable

    beginning of year $17,340 · end of year $123,710

  • 7 · Other notes and loans receivable

    beginning of year $2,600,071 · end of year $2,721,436

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

    $195,456

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $195,456

  • 17 · Accounts payable and accrued expenses

    beginning of year $205,062 · end of year $224,309

  • 19 · Deferred revenue

    beginning of year $5,594 · end of year $1,654

  • 23 · Secured mortgages and notes payable

    beginning of year $200,871 · end of year $200,871

  • 27 · Net assets without donor restrictions

    beginning of year $3,202,827 · end of year $4,419,050

  • 28 · Net assets with donor restrictions

    beginning of year $1,013,413 · end of year $0

Mission and programs · 2024

Mission

TO LEAD IN CREATING INNOVATIVE HOUSING SOLUTIONS FOR UNDERSERVED POPULATIONS THROUGH STRATEGIC PARTNERSHIPS THAT CONTRIBUTE TO BUILDING STRONGER COMMUNITIES.

  • CREATING HOMEOWNERSHIP OPPORTUNITIES AS A NON-PROFIT MORTGAGE LENDER. NHS LENDING HELPS INDIVIDUALS BEGIN BUILDING ASSETS FOR THEIR FUTURE THROUGH SUSTAINABLE HOMEOWNERSHIP. IT PROVIDES SECOND MORTGAGE LOANS IN TANDEM WITH OUR PARTNER LENDERS' FIRST MORTGAGES. AS A CDFI, NHS LENDING CAN ALSO DEPLOY FIRST MORTGAGES. BY LAYERING LOANS, NWB CAN LEVERAGE CAPITAL FUNDING TO OFFER QUALIFYING BUYERS AT LMI LEVELS THE RESOURCES TO BECOME SUCCESSFUL HOMEOWNERS. NWB UNDERWRITING CRITERIA ARE MORE FLEXIBLE, CREDIT SCORE REQUIREMENTS AND FEE ASSESSMENTS ARE LOWER THAN THOSE OF TRADITIONAL LENDERS, AND WE CAN PROVIDE ADDITIONAL DOWN PAYMENT AND CLOSING COST OPPORTUNITIES TO OUR LENDING CLIENTS AS WELL.

    Expenses $401,984 · Revenue $141,238

As filed on the 2024 return.

Listed in Part VII

  • Rabiou Manzo

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Brian Yeargain

    BOARD VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Brad Lish

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Leah Larson

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Chris Stroh

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rachel Anderson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Erin Sorensen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Yvette Primero

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bud Compher Jr

    CEO

    Total calculated
    $127,350
    From this org
    $0
    From related orgs
    $123,502
    Other
    $3,848
    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.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202543219349305864

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