Louisville Metro Housing Authority Development Corp
- Assets
- $16.0m
- Revenue
- $589.8k
- Investments
- $3.4m
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 11/2010
- Data as of
- 12/2015
- EIN
- 27-3175977
Organization Overview
Louisville Metro Housing Authority Development Corp is located in Louisville, KY. The organization was established in 2010. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisville Metro Housing Authority Development Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
LMHADC IS OPERATED FOR CHARITABLE PURPOSES INCLUDING, BUT NOT LIMITED TO, THE ENHANCEMENT OF THE HOUSING STOCK WITHIN LOUISVILLE. MOST SIGNIFICANTLY, LMHADC ENGAGES FINANCES AND ASSISTS IN THE DEVELOPMENT OF LOW AND/OR MULTI-INCOME HOUSING. THE LMHADC ALSO CONSULTS WITH ITS DEVELOPMENT PARTNERS, AS WELL AS FINANCES, SUPERVICES, CONSTRUCTS AND OPERATES HOUSING PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORTGAGE SERVICES - DEVELOPMENT OF LOW-INCOME HOME OWNERSHIP PROGRAMS FOR PUBLIC HOUSING RESIDENTS AND OTHER LOW-INCOME PERSONS THROUGH THE ASSISTANCE OF LOUISVILLE METRO, HUD AND LOCAL BANKS.
PROPERTY MANAGEMENT - LMHADC PROVIDES PROPERTY MANAGEMENT SERVICES FOR SEVERAL CONDOMINIUM REGIMES THAT WERE DEVELOPED BY LMHADC. THE LOAN PORTFOLIO IS REPRESENTATIVE OF THE FINANCING PROVIDED TO BUYERS OF THE CONDOMINIUM UNITS. LMHADC ALSO MANAGES A 69 UNIT PUBLIC AND INDIAN HOUSING MIXED-FINANCE DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Barry President | OfficerTrustee | 1 | $0 |
Wavid Wray Treasurer | OfficerTrustee | 1 | $0 |
Jeffrey Ralph Secretary | OfficerTrustee | 1 | $0 |
Kay Stewart Director | Trustee | 1 | $0 |
Ron Duke Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $125,350 |
| Government grants | $0 |
| 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 | $125,350 |
| Total Program Service Revenue | $464,460 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $589,810 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,836 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,641 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,261 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,289 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $117,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $857,486 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $164,519 |
| 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 | $0 |
| Net Land, buildings, and equipment | $67,044 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,441,663 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,443,739 |
| Total assets | $15,974,451 |
| Accounts payable and accrued expenses | $5,271 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $94,331 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $143,927 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $927,796 |
| Total liabilities | $1,171,325 |
| Unrestricted restricted net Assets | $934,346 |
| Temporarily restricted net Assets | $13,812,805 |
| Permanently restricted net Assets or current funds | $55,975 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $14,803,126 |