Louisville Metro Affordable Housing Trust Fund Inc
- Assets
- $10.7m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 05/2011
- Data as of
- 06/2020
- EIN
- 27-4155836
Organization Overview
Louisville Metro Affordable Housing Trust Fund Inc is located in Louisville, KY. The organization was established in 2011. 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 Affordable Housing Trust Fund 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 06/2020, Louisville Metro Affordable Housing Trust Fund Inc generated $7.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 62.6% each year . All expenses for the organization totaled $3.0m during the year ending 06/2020. While expenses have increased by 35.7% 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.
Since 2016, Louisville Metro Affordable Housing Trust Fund Inc has awarded 36 individual grants totaling $5,527,952. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE LOUISVILLE AFFORDABLE HOUSING TRUST FUND (LAHTF) WAS CREATED IN 2008 AS A WAY FOR METRO COUNCIL TO INVEST PUBLIC FUNDS IN THE KIND OF HOUSING OUR COMMUNITY NEEDS: FOR PEOPLE ON FIXED INCOMES LIKE SENIORS AND PEOPLE WITH SERIOUS DISABILITIES; FOR YOUNG FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOUISVILLE AFFORDABLE HOUSING TRUST FUND (LAHTF) WAS CREATED IN 2008 AS THE WAY FOR METRO COUNCIL TO INVEST PUBLIC FUNDS IN THE KIND OF HOUSING OUR COMMUNITY NEEDS: FOR PEOPLE ON FIXED INCOMES LIKE SENIORS AND PEOPLE WITH SERIOUS DISABILITIES; FOR YOUNG FAMILIES STARTING OUT; FOR VETERANS; AND FOR WORKING PEOPLE WHOSE WAGES ARE NOT ENOUGH TO LIVE IN METRO LOUISVILLE. THE HOUSING TRUST FUND IS FOUNDED ON THE PRINCIPLE THAT A PLACE TO CALL HOME OPENS THE DOOR TO OPPORTUNITY, AND THAT THE WHOLE COMMUNITY DOES BETTER WHEN EVERYONE HAS A DECENT PLACE TO CALL HOME. THE LAHTF PROVIDES GAP FINANCING FOR DEVELOPERS CREATING OR MANAGING AFFORDABLE HOUSING UNITS. ELIGIBLE USES OF FINANCING INCLUDE PROPERTY ACQUISITION, CONSTRUCTION FINANCING OR PERMANENT FINANCING.
THE LOUISVILLE AFFORDABLE HOUSING TRUST FUND (LAHTF) WAS CREATED IN 2008 AS THE WAY FOR METRO COUNCIL TO INVEST PUBLIC FUNDS IN THE KIND OF HOUSING OUR COMMUNITY NEEDS: FOR PEOPLE ON FIXED INCOMES LIKE SENIORS AND PEOPLE WITH SERIOUS DISABILITIES; FOR YOUNG FAMILIES STARTING OUT; FOR VETERANS; AND FOR WORKING PEOPLE WHOSE WAGES ARE NOT ENOUGH TO LIVE IN METRO LOUISVILLE. THE HOUSING TRUST FUND IS FOUNDED ON THE PRINCIPLE THAT A PLACE TO CALL HOME OPENS THE DOOR TO OPPORTUNITY, AND THAT THE WHOLE COMMUNITY DOES BETTER WHEN EVERYONE HAS A DECENT PLACE TO CALL HOME. THE LAHTF PROVIDES GAP FINANCING FOR DEVELOPERS CREATING OR MANAGING AFFORDABLE HOUSING UNITS. ELIGIBLE USES OF FINANCING INCLUDE PROPERTY ACQUISITION, CONSTRUCTION FINANCING OR PERMANENT FINANCING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Beach Treasurer | OfficerTrustee | 1 | $0 |
Christopher Haragan President | OfficerTrustee | 1 | $0 |
Kim Rice Secretary | OfficerTrustee | 1 | $0 |
Marilyn Harris Vice Preside | OfficerTrustee | 1 | $0 |
Christie Mccravy Executive Di | Officer | 40 | $0 |
Joyce Burch Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,666,967 |
| Investment income | $10,250 |
| 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 | $6,966,265 |
| Statement of Expenses | |
|---|---|
| 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. | $110,181 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,581 |
| Pension plan accruals and contributions | $3,418 |
| Other employee benefits | $5,410 |
| Payroll taxes | $13,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,668 |
| Fees for services: Accounting | $20,975 |
| 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 | $25,058 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,010 |
| Travel | $1,384 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,810 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $368 |
| Insurance | $7,316 |
| All other expenses | $0 |
| Total functional expenses | $2,989,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,503,107 |
| Savings and temporary cash investments | $278,034 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $125,672 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,831,092 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,738,725 |
| Accounts payable and accrued expenses | $46,338 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $46,338 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $10,692,387 |
Grants Awarded
Over the last fiscal year, Louisville Metro Affordable Housing Trust Fund Inc has awarded $1,764,554 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Louisville, KY PURPOSE: LOW INCOME HOUSING | $315,000 |
Louisville, KY PURPOSE: LOW INCOME HOUSING | $315,000 |
OPPORTUNITY EAST PURPOSE: LOW INCOME HOUSING | $240,000 |
OPPORTUNITY EAST PURPOSE: LOW INCOME HOUSING | $240,000 |
Louisville, KY PURPOSE: LOW INCOME HOUSING | $125,000 |
Louisville, KY PURPOSE: LOW INCOME HOUSING | $125,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Louisville Metro Affordable Housing Trust Fund Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
First Financial Foundation Cincinnati, OH PURPOSE: HOUSING COUNSELING SERVICES, EMERGENCY REPAIRS, HOMEOWNER LOAN ASSISTANCE PROGRAM FUNDING IN LOUISVILLE | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
European American Association Chicago, IL | $18,209,689 | $14,984,488 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Hispanic Housing Development Corp Chicago, IL | $88,735,655 | $15,154,061 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |