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Nonprofiteer
← PENNSYLVANIA HOME LENDING COLLABORATIVE INC

Form 990 for tax year 2023

Filed by PENNSYLVANIA HOME LENDING COLLABORATIVE INC.

Totals

Total revenue
$331,092
Total expenses
$80,737
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$319,235
Investment income
$11,857
Other revenue
$0
Total assets, end of year
$3,373,901
Total liabilities, end of year
$2,894,963
Net assets or fund balances, end of year
$478,938
Program services expenses (Part IX)
$80,737
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$80,737

Program services were 100.0% 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.

  • 2a · Program service revenue: FEE REVENUE

    total $178,244 · related or exempt $178,244

  • 2b · Program service revenue: MORTGAGE INTEREST

    total $140,991 · related or exempt $140,991

  • 3 · Investment income

    total $11,857 · excluded $11,857

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $7,172 · program services $7,172

  • 11g · Fees: other

    total $2,025 · program services $2,025

  • 12 · Advertising and promotion

    total $1,207 · program services $1,207

  • 13 · Office expenses

    total $61 · program services $61

  • 17 · Travel

    total $1,873 · program services $1,873

  • 23 · Insurance

    total $1,515 · program services $1,515

  • 24a · Other expenses: CREDIT LOSS EXPENSE

    total $58,442 · program services $58,442

  • 24b · Other expenses: MORTGAGE PROCESSING

    total $8,035 · program services $8,035

  • 24c · Other expenses: MISCELLANEOUS

    total $407 · program services $407

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $541,491 · end of year $257,898

  • 4 · Accounts receivable

    beginning of year $200

  • 7 · Other notes and loans receivable

    beginning of year $2,741,064 · end of year $3,115,355

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,157 · end of year $648

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,079 · end of year $8,340

  • 25 · Other liabilities

    beginning of year $2,994,741 · end of year $2,886,623

  • 27 · Net assets without donor restrictions

    beginning of year $283,092 · end of year $478,938

Mission and programs · 2023

Mission

TO PROMOTE AND FACILITATE FIRST-TIME HOME OWNERSHIP PRIMARILY TO INDIVIDUALS AND FAMILIES OF MODEST MEANS (BELOW 80% AMI) RESIDING IN PARTICIPATING OR QUALIFIED SERVICE AREAS THROUGH AFFORDABLE FINANCIAL ASSISTANCE AND FLEXIBLE UNDERWRITING.

Activities or mission (Part I)

TO PROMOTE AND FACILITATE FIRST-TIME HOME OWNERSHIP TO QUALIFYING INDIVIDUALS AND FAMILIES IN QUALIFIED AREAS.

  • STATE-WIDE LENDING:THE ORGANIZATION IS COLLABORATING WITH SIX OTHER ESTABLISHED NEIGHBORWORKS ORGANIZATIONS THAT COVER THE MAJORITY OF PENNSYLVANIA IN THEIR COLLECTIVE SERVICE AREAS. IN THE INTEREST OF PROVIDING FINANCIAL ASSISTANCE TO LOW/MODERATE INCOME CLIENTS SEEKING FIRST TIME HOME OWNERSHIP IN THEIR REGIONS, THE ORGANIZATION WAS ASKED TO LEAD THE CREATION OF A LENDING EFFORT, WHEREBY THE ORGANIZATION COULD PROVIDE LENDING SERVICES AND CAPITAL TO THEIR CONSTITUENTS WHO QUALIFY. SEE ADDITIONAL INFORMATION ON SCHEDULE O.IN ADDITION TO PROMOTING FIRST-TIME HOME OWNERSHIP, THE ORGANIZATION PROMOTES AND ASSISTS EXISITING HOMEOWNERS IN THE NEIGHBORWORKS ORGANIZATION SERVICE AREAS TO REMAIN IN RESIDENCE THROUGH AFFORDABLE FINANCIAL ASSISTANCE FOR NECESSARY HOME REPAIR AND/OR RENOVATIONS. AFFORDABLE HOME REPAIR FINANCING FOR HOMEOWNERS OF MODEST MEANS AND/OR WITH LITTLE EQUITY IN THEIR HOMES IS A CRITICAL UNMET NEED. THE LACK OF CAPITAL FOR THESE FAMILIES IS CONTRIBUTING TO THE SEVERE DETERIORATION OF PENNSYLVANIA'S HOUSING STOCK THROUGH DISINVESTMENTS, AND LOWERING LIVING STANDARDS FOR THE OCCUPANTS. THE ORGANIZATION PROVIDES ACCESS TO LOAN PRODUCTS THAT ENABLE AND ENCOURAGE FAMILIES TO UTILIZE/INVEST IN 'GREEN TECHNOLOGY' THAT, AMONG OTHER THINGS, RESULTS IN LOWER ENERGY COSTS. ALL BORROWERS ARE REQUIRED TO COMPLETE SOME OR ALL OF THE HOMEBUYER EDUCATION CLASSES, INDIVIDUAL BUDGET AND CREDIT COUNSELING, AS WELL AS PRE- AND POST- PURCHASE COUNSELING, AS APPLICABLE.IN 2023, THE HOME OWNERSHIP CENTER VIA PHLC ASSISTED 47 FAMILIES BUY THEIR FIRST HOME, LENDING $598,523 IN DOWN PAYMENT AND CLOSING COST ASSISTANCE LOANS. OUR TOTAL PHLC LOAN PORTFOLIO REMAINED STRONG RELATIVE TO THE NATIONAL ECONOMY. 15 LOANS WERE PAST DUE AS OF DECEMBER 31ST OUT OF A TOTAL PORTFOLIO OF 238 LOANS.

    Expenses $80,737 · Revenue $319,235

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

Listed in Part VII

  • Craig Burkley

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Douglas Rauch

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Debra Wetzel

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Beth Bowers

    CORPORATE SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Laurie Grube

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christie Rosario

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Devon Newsham

    DIRECTOR THRU DECEMBER

    Total calculated
    $0
    Hours/week
    1

  • Stephen T Gieringer

    PRESIDENT AND CEO

    Total calculated
    $171,060
    From this org
    $0
    From related orgs
    $147,511
    Other
    $23,549
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,511 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $23,549 related
    Filer's total
    $0 + $171,060 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
NEIGHBORHOOD HOUSING SERVICES OF GREATER BERKS, INC. USES COMPARISON TO SIMILAR ORGANIZATIONS' 990S AND APPROVAL FROM THE BOARD TO DETERMINE THE EXECUTIVE DIRECTOR'S COMPENSATION.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
24 September 2024
IRS schema version
2023v5.1
Source object
202442699349301314

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