Nevada Affordable Housing Assistance Corporation
- Assets
- $11.3m
- Revenue
- $28.1m
- Investments
- $0.0
- Employees
- 15
- Location
- Las Vegas, NV
- Founding
- 11/2015
- Data as of
- 06/2023
- EIN
- 30-0154421
Organization Overview
Nevada Affordable Housing Assistance Corporation is located in Las Vegas, NV. The organization was established in 2015. 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. As of 06/2023, Nevada Affordable Housing Assistance Corporation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nevada Affordable Housing Assistance Corporation 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 06/2023, Nevada Affordable Housing Assistance Corporation generated $28.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $26.9m during the year ending 06/2023. While expenses have increased by 20.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF NAHAC IS TO PROVIDE FUNDS, SUBSIDIES, AND/OR BENEFITS TO NEVADA HOMEOWNERS OR OTHER TARGETED GROUPS OF INDIVIDUALS WITHIN THE STATE OF NEVADA IN ORDER TO ASSIST WITH AFFORDABLE OR SUBSIDIZED SINGLE OR MULTI-FAMILY HOUSING. AT A MINIMUM, THIS WILL ENCOMPASS CONSISTENTLY DETERMINING WHAT THE SPECIFIC NEEDS OF NEVADA HOMEOWNERS ARE, AND ANY OTHER APPLICABLE NEEDS OF THE INDIVIDUAL COMMUNITIES THEREIN. LIAISONS WITH PUBLIC AND PRIVATE PARTNERS, AS APPLICABLE, WILL BE CONSISTENTLY SOUGHT TO ACHIEVE THIS OVERARCHING OBJECTIVE. THE NAHAC QUALIFIED AND TRAINED TEAM OF PROFESSIONALS WILL PROVIDE THIS SERVICE IN AN EFFICIENT AND EFFECTIVE MANNER, MAKING THE NEEDS OF ELIGIBLE NEVADA HOMEOWNERS ITS TOP DAILY PRIORITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNEMPLOYMENT MORTGAGE ASSISTANCE PROGRAM (UMA)- PROVIDES TEMPORARY FINANCIAL ASSISTANCE TO ELIGIBLE NEVADA HOMEOWNERS WHO WISH TO REMAIN IN THEIR HOMES BUT HAVE SUFFERED A LOSS OF INCOME DUE TO UNEMPLOYMENT OR UNDEREMPLOYMENT. AT LEAST ONE HOMEOWNER MUST HAVE EXPERIENCED INVOLUNTARY JOB LOSS DUE TO THE PANDEMIC THAT OCCURRED ON OR AFTER JANUARY 21, 2020 AND MUST BE UNEMPLOYED AT TIME OF THE APPLICATION REVIEW. THE PROGRAM WILL ASSIST THE HOUSEHOLD WITH UP TO 3,000 PER MONTH OF FORWARD PAYMENTS UNTIL THE HOMEOWNER REGAINS EMPLOYMENT FOR UP TO TWELVE (12) MONTHS. THE ASSISTANCE WILL ALSO INCLUDE REINSTATEMENT OF THE DELINQUENT FIRST MORTGAGE LOAN, NONESCROWED TAXES, HOA FEES, AND HOMEOWNERS INSURANCE. MORTGAGE REINSTATEMENT ASSISTANCE PROGRAM (MRAP)- PROVIDES REINSTATEMENT ASSISTANCE TO INCOME QUALIFIED ELIGIBLE NEVADA HOMEOWNERS IN DEFAULT WHO HAVE EXPERIENCE A FINANCIAL HARDSHIP DUE TO THE PANDEMIC ON OR AFTER JANUARY 21, 2020. THE HARDSHIP EXPERIENCED BY THESE HOMEOWNERS MUST HAVE ENDED AND THEY ARE NOW ABLE TO SUSTAIN THEIR MONTHLY MORTGAGE PAYMENTS GOING FORWARD, INCLUDING ANY RELATED AND ASSOCIATED COSTS SUCH AS A NON-ESCROWED TAXES, HOA FEES, AND HOMEOWNERS INSURANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Verise Campbell Ceo/coo | Officer | 40 | $133,770 |
Rande Johnsen VP & Vc | OfficerTrustee | 2 | $860 |
Sharath Chandra Director | Trustee | 2 | $0 |
Jeneeah Nia M Girma Director | OfficerTrustee | 2 | $0 |
Jim Hastings Treasurer | Trustee | 2 | $0 |
Timothy Whitwright President & | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hotb Software Solutions Llc It | 6/29/23 | $1,004,600 |
Braintrust Marketing Communication Marketing | 6/29/23 | $216,626 |
Fennemore Craig Pc Legal Services | 6/29/23 | $205,308 |
Appleone Staffing | 6/29/23 | $188,035 |
Ellsworth Stout Accounting | 6/29/23 | $174,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,895,205 |
| 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 | $26,895,205 |
| Total Program Service Revenue | $1,135,261 |
| Investment income | $21,134 |
| 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 | $28,051,600 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $23,433,801 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $149,974 |
| Compensation of current officers, directors, key employees. | $149,974 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $821,431 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $98,993 |
| Payroll taxes | $61,573 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,524 |
| Fees for services: Accounting | $230,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $885,915 |
| Advertising and promotion | $189,490 |
| Office expenses | $21,488 |
| Information technology | $205,308 |
| Royalties | $0 |
| Occupancy | $25,031 |
| Travel | $6,517 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,076 |
| Insurance | $44,244 |
| All other expenses | $2,559 |
| Total functional expenses | $26,923,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,787,375 |
| Savings and temporary cash investments | $6,775,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $210,742 |
| Net Land, buildings, and equipment | $69,465 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $492,207 |
| Total assets | $11,335,049 |
| Accounts payable and accrued expenses | $1,352,188 |
| 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 | $254,093 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,676,230 |
| Total liabilities | $7,282,511 |
| Net assets without donor restrictions | $4,052,538 |
| 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 | $11,335,049 |