Threshold Housing Development Inc
- Assets
- $584.4k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 2
- Location
- Uniontown, PA
- Founding
- 01/1992
- Data as of
- 06/2021
- EIN
- 25-1674112
Organization Overview
Threshold Housing Development Inc is located in Uniontown, PA. The organization was established in 1992. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Threshold Housing Development Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Threshold Housing Development Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Threshold Housing Development Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.6m during the year ending 06/2021. While expenses have increased by 2.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, DEVELOP, MAINTAIN AND MANAGE REAL AND PERSONAL PROPERTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THRESHOLD HOUSING DEVELOPMENT'S (THD) PURPOSE IS TO ACQUIRE, DEVELOP, HOLD, OPERATE, MAINTAIN, AND MANAGE REAL AND PERSONAL PROPERTY.THD'S MISSION IS TO DEVELOP, PROMOTE, ENCOURAGE OR ENHANCE THE LEVEL OF SELF-SUFFICIENCY OF LOW INCOME, DISABLED, OR ELDERLY INDIVIDUALS AND FAMILIES THROUGH DEVELOPING AFFORDABLE, EFFICIENT HOUSING UNITS, FOR BOTH RENTAL AND OWNERSHIP BY LOW INCOME FAMILIES OR INDIVIDUALS. THRESHOLD ACCOMPLISHES ITS MISSION THROUGH VARIOUS METHODS. OVER THE LAST 25 PLUS YEARS, THRESHOLD HAS ESTABLISHED MANY INNOVATIVE PARTNERSHIPS THAT HAVE LED TO THE DEVELOPMENT OF MORE THAN 150 NEW HOMES AND 150 REHABILITATED HOMES THROUGHOUT FAYETTE, GREENE, AND WASHINGTON COUNTIES.CURRENTLY, THRESHOLD ACCOMPLISHES ITS HOUSING DEVELOPMENT GOALS THROUGH THREE DIFFERENT PROGRAMS: NEW CONSTRUCTION, REHABILITATION FOR RESALE AND THE USDA RURAL DEVELOPMENT SELF-HELP PROGRAM.FOR REHABILITATION FOR RESALE: THRESHOLD PURCHASES AND REHABILITATES HOMES THAT ARE SOLD TO FAMILIES AT OR BELOW 80% OF AREA MEDIAN INCOME. PARTICIPATING FAMILIES MUST HAVE 3% OF THE TOTAL PURCHASE PRICE AT CLOSING AND MUST SECURE A MORTGAGE LOAN FOR 80% OF THE COST OF THE HOME. THE OTHER 17% OF THE PURCHASE PRICE AND ALL OF THE CLOSING COSTS ARE PROVIDED TO THE FAMILY THROUGH A DEFERRED SECOND MORTGAGE. THRESHOLD HAS PRODUCED THIS TYPE OF HOUSING USING VARIOUS FUNDING TYPES. MOST RECENTLY, THRESHOLD HAS PERFORMED THIS PROGRAM RECEIVING HOME INVESTMENT PARTNERSHIPS PROGRAM FUNDS SUBCONTRACTED THROUGH LOCAL REDEVELOPMENT AUTHORITIES.FOR THE USDA RURAL DEVELOPMENT SELF-HELP PROGRAM: PARTICIPATING FAMILIES ARE APPROVED FOR A MORTGAGE THROUGH USDA RURAL DEVELOPMENT. THE MORTGAGE WILL THEN BE USED TO PURCHASE A HOUSE AND NECESSARY MATERIALS TO REHAB THE HOUSE. IT IS ANTICIPATED THAT THE AMOUNT OF TIME NEEDED TO REHAB THE HOUSE WILL BE APPROXIMATELY 120 HOURS. THRESHOLD WILL PROVIDE AN EXPERIENCED CONSTRUCTION SUPERVISOR TO INSTRUCT THE HOMEOWNER IN THE SKILLS NEEDED TO PERFORM THE WORK AND TO PROVIDE ONGOING SUPPORT AND GUIDANCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Stark Treasurer | Officer | 2 | $0 |
Darlene Bigler Chairperson | Officer | 3 | $0 |
Frank Lucente Secretary | Officer | 2 | $0 |
Jeff Fondelier Vice-Chair | Officer | 2 | $0 |
Bob Bakos Director | Trustee | 1 | $0 |
Jessica Hajek-Bates Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $882,293 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $882,293 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,975 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $568,500 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,647,788 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,498 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,414 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,412 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,668 |
| Advertising and promotion | $0 |
| Office expenses | $1,659 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,135 |
| Travel | $5,878 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,612 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,438 |
| Insurance | $5,648 |
| All other expenses | -$28,972 |
| Total functional expenses | $1,554,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,289 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,937 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,742 |
| Net Land, buildings, and equipment | $133,602 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $216,865 |
| Total assets | $584,435 |
| Accounts payable and accrued expenses | $288,341 |
| Grants payable | $0 |
| Deferred revenue | $27,635 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $240,000 |
| Total liabilities | $555,976 |
| Net assets without donor restrictions | $28,459 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $584,435 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Threshold Housing Development Inc has recieved totaling $9,286.
| Awarding Organization | Amount |
|---|---|
West Penn Power Sustainable Energy Fund Greensburg, PA PURPOSE: Energy Conservation | $9,286 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dogwood Housing Inc North Bethesda, MD | $86,669,090 | $22,202,788 |
The Center For New York City New York, NY | $125,177,702 | $23,546,233 |
Village At Marymount Garfield Heights, OH | $5,352,973 | $16,703,874 |
Wellspan Properties Inc York, PA | $178,389,137 | $19,225,192 |
Rebecca Residence Allison Park, PA | $63,370,668 | $20,665,205 |
Alliance For Behavioral & Developmental Disabilities Ltd Hermitage, PA | $7,380,317 | $14,591,071 |
Building Homes For Heroes Inc Island Park, NY | $15,491,113 | $13,729,241 |
Taconic Innovations Inc Wappingers Falls, NY | $14,026,966 | $12,196,980 |
National Foundation For Affordable Housing Solutions Inc North Bethesda, MD | $263,616,606 | $53,198,670 |
The Crenulated Company Ltd New York, NY | $9,182,171 | $10,442,755 |
Magnolia Housing Inc North Bethesda, MD | $6,233,975 | $1,178,678 |
Civic Builders Inc New York, NY | $87,716,137 | $21,789,241 |