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← HOMEOWNERSHIP PRESERVATION FOUNDATION

Form 990 for tax year 2023

Filed by HOMEOWNERSHIP PRESERVATION FOUNDATION.

Totals

Total revenue
$14,063,939
Total expenses
$13,663,982
Contributions and grants received
$120,000
Grants paid
$0
Program service revenue
$13,710,863
Investment income
$217,075
Other revenue
$16,001
Total assets, end of year
$11,041,312
Total liabilities, end of year
$2,117,216
Net assets or fund balances, end of year
$8,924,096
Program services expenses (Part IX)
$13,221,631
Management and general expenses
$382,351
Fundraising expenses
$60,000
Program service expenses (Part III)
$13,221,631

Program services were 96.8% 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.

  • 1f · All other contributions, gifts and grants

    $120,000

  • 2a · Program service revenue: COUNSELING FEES

    total $13,683,099 · related or exempt $13,683,099

  • 2b · Program service revenue: DISREGARDED LLC PROF S

    total $27,764 · related or exempt $27,764

  • 3 · Investment income

    total $116,628 · excluded $116,628

  • 7a · Gross sales of assets other than inventory

    securities $100,447

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

    securities $0

  • 7c · Gain or loss

    securities $100,447

  • 7d · Net gain or loss

    total $100,447 · excluded $100,447

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $16,001 · excluded $16,001

  • 11e · Other revenue, total

    $16,001

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,161,165 · program services $842,255 · management and general $318,910

  • 8 · Pension plan contributions

    total $56,703 · program services $44,836 · management and general $11,867

  • 9 · Other employee benefits

    total $69,350 · program services $59,209 · management and general $10,141

  • 10 · Payroll taxes

    total $75,799 · program services $56,010 · management and general $19,789

  • 11b · Fees: legal

    total $5,088 · management and general $5,088

  • 11c · Fees: accounting

    total $2,924 · management and general $2,924

  • 11d · Fees: lobbying

    total $60,000 · fundraising $60,000

  • 11f · Fees: investment management

    total $10,697 · management and general $10,697

  • 13 · Office expenses

    total $21,575 · program services $18,640 · management and general $2,935

  • 14 · Information technology

    total $2,985 · program services $2,985

  • 17 · Travel

    total $1,666 · program services $1,666

  • 24a · Other expenses: DIRECT PROGRAM EXPENSES

    total $12,196,030 · program services $12,196,030

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,809,226 · end of year $1,825,671

  • 4 · Accounts receivable

    beginning of year $2,522,863 · end of year $1,952,099

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,376 · end of year $6,488

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

    $3,492,946

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

    $3,492,946

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $6,572,957 · end of year $7,257,054

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,054,040 · end of year $2,042,216

  • 19 · Deferred revenue

    beginning of year $82,584 · end of year $75,000

  • 27 · Net assets without donor restrictions

    beginning of year $7,774,798 · end of year $8,924,096

Mission and programs · 2023

Mission

PROVIDES EDUCATION AND COUNSELING TO FINANCIALLY DISTRESSED HOMEOWNERS TO PRESERVE AND PROMOTE HOMEOWNERSHIP.

Activities or mission (Part I)

TO PROMOTE, EDUCATE, AND COUNSEL THE FINANCIALLY DISTRESSED ON HOW TO SUSTAIN HOMEOWNERSHIP.

  • PRE-PURCHASE COUNSELING: HPF ADMINISTERS AFFORDABLE LENDING PROGRAMS ON BEHALF OF BANK AND NON-BANK MORTGAGE LENDERS. HPF PROVIDES LENDERS LOW TO MODERATE INCOME CLIENTS ACCESS TO HUD CERTIFIED HOUSING COUNSELORS TO SUPPORT THEIR ABILITY TO ATTAIN AND SUSTAIN HOMEOWNERSHIP. SOME OF THESE AFFORDABLE PROGRAMS INCLUDE ACCESS TO DOWN PAYMENT AND CLOSING COST ASSISTANCE IF THE BORROWER COMPLETES HOMEBUYER EDUCATION AND/OR ONE-ON-ONE HOUSING COUNSELING.

    Expenses $11,767,252 · Revenue $12,175,971

  • GENERAL COUNSELING: HPF PROVIDES COMPREHENSIVE HOMEOWNER EDUCATION AND CONFIDENTIAL FORECLOSURE PREVENTION COUNSELING AT NO COST TO HOMEOWNERS THROUGH THE HOMEOWNER'S 995HOPE HOTLINE. CERTIFIED HOUSING COUNSELORS, THROUGH AFFILIATED HUD-APPROVED NONPROFIT AGENCIES, SERVE THE HOMEOWNER'S 995HOPE HOTLINE. THE HOTLINE IS AVAILABLE 24X7 AND OFFERS EXTENDED LIVE OPERATOR HOURS M-TH 8-10 PM EST, F 8-8 PM EST AND SATURDAY 9-6 PM EST WITH CALLBACK SERVICE AVAILABLE OUTSIDE OF LIVE OPERATING HOURS. THE HOMEOWNER'S 995HOPE HOTLINE HAS RECEIVED MORE THAN NINE MILLION CALLS AND HAS COUNSELED OVER TWO MILLION HOMEOWNERS SINCE 2007. THE HOTLINE RECEIVED MORE THAN 97,000 CALLS FROM HOMEOWNERS NAVIGATING FINANCIAL HARDSHIPS AND STRESS IN 2023. HPF CLIENTS RECEIVE ONE-ON-ONE COUNSELING AND EDUCATION FOCUSED ON THEIR UNIQUE FINANCIAL CIRCUMSTANCES AND THEIR HOUSING GOALS. CALLERS ARE BETTER EQUIPPED AND CONFIDENT TO MAKE SOUND FINANCIAL DECISIONS AFTER PARTICIPATING IN HOUSING COUNSELING.

    Expenses $1,229,612 · Revenue $1,277,488

  • POST MODIFICATION PROGRAM: THE HPF MODEL FOR POST MODIFICATION COACHING DELIVERS A SCALABLE / NATIONWIDE DELIVERY MECHANISM THAT HAS THE CAPABILITY TO PROVIDE A HOLISTIC APPROACH COVERING A HOMEOWNER'S ENTIRE FINANCIAL SITUATION THROUGH HIGH-TOUCH COACHING AND EDUCATION. HPF WORKS TO HELP HOMEOWNERS IMPROVE THEIR FINANCIAL CAPABILITIES, ENABLING THEM TO SUCCESSFULLY SUPPORT THEIR MORTGAGE AND OTHER OBLIGATIONS. THE COACHING OCCURS OVER SEVERAL MONTHS AND IS COMPRISED OF TWO TO FOUR SESSIONS DEPENDING ON THE LOAN TYPE.

    Expenses $211,546 · Revenue $220,590

  • FORBEARANCE OUTREACH: HPF'S SUCCESSFUL POST-MODIFICATION FINANCIAL COACHING PROGRAMS EXTENDED ITS SERVICE TO SUPPORT BORROWERS FACING DIFFICULTY CONNECTING WITH THEIR SERVICER TO DISCUSS FORBEARANCE EXIT SOLUTIONS.

    Expenses $13,221 · Revenue $9,050

  • OTHER: IFS SUPPORTS AN INNOVATIVE HELP LINE FOR OLDER ADULTS AND THOSE WITH DISABILITIES, CONNECTING THEM WITH MUCH NEEDED BENEFITS. THE COST- FREE SERVICE IS PROVIDED DIRECTLY TO CLIENTS AND CAREGIVERS, REVIEWING POTENTIAL ELIGIBILITY FOR ASSISTANCE PROGRAMS THAT CAN HELP PAY FOR HEALTH CARE, MEDICINE, FOOD, UTILITIES, AND MORE. GUIDANCE IS PROVIDED ON PROGRAMS THAT MAY BE AVAILABLE, NEXT STEPS ON APPLICATION AND/OR REFERRAL TO A BENEFITS ENROLLMENT SPECIALISTS. THOUSANDS OF CLIENT CALLS ARE HANDLED EACH YEAR PROVIDING A LIVE VOICE AND SUPPORTIVE EXPERT TO HELP THEM NAVIGATE OPPORTUNITIES TO LESSEN FINANCIAL BURDEN AND IMPROVE QUALITY OF LIFE.

    Revenue $27,764

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

Listed in Part VII

  • CAREY PACHLA

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHELLE GREENE

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ANTHONY ZAMBELLI

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • WILLIAM RICHARDS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOHN FIRTH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BRUCE GOTTSCHALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOE LAFEIR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOSHUA SLEDGE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • SHAWN STEWART

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JANE SYDLOWSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KRISTEN HOLT

    PRESIDENT & CEO

    Total calculated
    $536,466
    From this org
    $0
    From related orgs
    $506,998
    Other
    $29,468
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $397,434 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $9,564 related
    Deferred
    $0 + $15,500 related
    Nontaxable benefits
    $0 + $13,968 related
    Filer's total
    $0 + $536,466 related

  • RICHARD T HOLLIS

    CHIEF FINANCIAL OFFICER

    Total calculated
    $312,903
    From this org
    $0
    From related orgs
    $284,124
    Other
    $28,779
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $232,753 related
    Bonus
    $0 + $51,246 related
    Other
    $0 + $125 related
    Deferred
    $0 + $14,321 related
    Nontaxable benefits
    $0 + $14,458 related
    Filer's total
    $0 + $312,903 related

  • SIREESHA MANDAVA

    CHIEF INFORMATION OFFICER

    Total calculated
    $354,422
    From this org
    $0
    From related orgs
    $327,886
    Other
    $26,536
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,850 related
    Bonus
    $0 + $58,826 related
    Other
    $0 + $210 related
    Deferred
    $0 + $15,500 related
    Nontaxable benefits
    $0 + $11,036 related
    Filer's total
    $0 + $354,422 related

  • RODERICK MCGINNISS

    SVP - BUSINESS DEVELOPMENT

    Total calculated
    $216,295
    From this org
    $0
    From related orgs
    $188,055
    Other
    $28,240
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $157,090 related
    Bonus
    $0 + $30,965 related
    Other
    $0
    Deferred
    $0 + $9,697 related
    Nontaxable benefits
    $0 + $18,543 related
    Filer's total
    $0 + $216,295 related

  • JENNIFER FRASER

    DIRECTOR OF STAKEHOLDER ENGAGEMENT & CCO

    Total calculated
    $228,831
    From this org
    $0
    From related orgs
    $195,332
    Other
    $33,499
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,315 related
    Bonus
    $0 + $16,561 related
    Other
    $0 + $3,456 related
    Deferred
    $0 + $10,103 related
    Nontaxable benefits
    $0 + $23,396 related
    Filer's total
    $0 + $228,831 related

  • RICHARD BIALOBRZESKI

    CHIEF BUSINESS DEVELOPMENT OFFICER

    Total calculated
    $309,992
    From this org
    $0
    From related orgs
    $281,526
    Other
    $28,466
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $221,306 related
    Bonus
    $0 + $51,700 related
    Other
    $0 + $8,520 related
    Deferred
    $0 + $14,453 related
    Nontaxable benefits
    $0 + $14,013 related
    Filer's total
    $0 + $309,992 related

  • MICHAEL SHINKONIS

    DIRECTOR OF FINANCE AND ACCOUNTING

    Total calculated
    $201,820
    From this org
    $0
    From related orgs
    $178,452
    Other
    $23,368
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $162,220 related
    Bonus
    $0 + $16,232 related
    Other
    $0
    Deferred
    $0 + $9,355 related
    Nontaxable benefits
    $0 + $14,013 related
    Filer's total
    $0 + $201,820 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
THE BOARD RELIES ON AN INDEPENDENT, THIRD PARTY COMPENSATION CONSULTANT TO COLLECT COMPARABILITY DATA, ASSESS MARKET TRENDS AND MAKE RECOMMENDATIONS ON THE CEO'S COMPENSATION PACKAGE. THE SAMPLE OF COMPARABLE ORGANIZATIONS IS COMPOSED OF ORGANIZATIONS FROM WHICH GREENPATH, INC. MIGHT RECRUIT A FUTURE CEO OR WHICH MIGHT HAVE AN INTEREST IN TRYING TO RECRUIT GREENPATH, INC. CEO AND WHICH ADDITIONALLY ARE LOCATED IN LABOR MARKETS WHERE GREENPATH, INC. HAS SIGNIFICANT PRESENCE. SPECIFIC DEGREE OF COMPARABILITY IS BASED ON A) GROSS RECEIPTS AND B) TOTAL ASSETS. THE BOARD APPROVAL OF THE PRESIDENT/CEO'S COMPENSATION IS DOCUMENTED IN THE BOARD MINUTES.

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.

  • GREENPATH INC

    501(C)(3) · COUNSELING · MI

    Directly controlled by GREENPATH INC

  • RURAL DYNAMICS INC

    501(C)(3) · DEBT RESTRUCTURING, FINANCIAL EDUCATION, TAX RETURN PREPARATION · MT

    Directly controlled by GREENPATH INC

  • CCCS OF DELAWARE VALLEY

    501(C)(3) · HOUSING, FINANCIAL EDUCATION · PA

    Directly controlled by GREENPATH INC

  • CCCS OF PUERTO RICO INC

    501(C)(3) · FINANCIAL CONSULTING SERVICES · PR

    Directly controlled by GREENPATH INC

  • GREENPATH INNOVATION DESIGN

    501(C)(3) · PRODUCT DEVELOPMENT FOR UNDERSERVED POPULATIONS AND NONPROFIT · MI

    Directly controlled by GREENPATH INC

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.

  • INNOVATIVE FINANCIAL SOLUTIONS LLC

    INNOVATE/PARTNER ON FINANCIAL WELLNESS OPPORTUNITIES · MI · income $27,764 · assets $0

    Directly controlled by HOMEOWNERSHIP PRESERVATION FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
6 September 2024
IRS schema version
2023v5.1
Source object
202422509349301667

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