Southwest Housing Solutions Corporation
- Assets
- $39.0m
- Revenue
- $7.3m
- Investments
- $521.0k
- Employees
- 29
- Location
- Detroit, MI
- Founding
- 02/1989
- Data as of
- 09/2021
- EIN
- 38-2324335
Organization Overview
Southwest Housing Solutions Corporation is located in Detroit, MI. The organization was established in 1989. 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 09/2021, Southwest Housing Solutions Corporation employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Housing Solutions 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 09/2021, Southwest Housing Solutions Corporation generated $7.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $5.7m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (11.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Southwest Housing Solutions Corporation has awarded 25 individual grants totaling $7,881,722. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SOUTHWEST HOUSING SOLUTIONS IS RECOGNIZED AS A LEADER IN DEVELOPING & MANAGING HIGH-QUALITY AFFORDABLE APARTMENTS AND TOWNHOUSES FOR RENT OR HOMEOWNERSHIP. WE PROVIDE OPPORTUNITIES FOR ALL RESIDENTS TO WORK TOGETHER TO HELP REVITALIZE NEIGHBORHOODS AND IMPROVE THE QUALITY OF LIFE IN THE COMMUNITY. OUR MANAGEMENT TEAM IS EXPERIENCED AND BILINGUAL, AND COMMITTED TO RESIDENT SATISFACTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT OF LOW INCOME/TAX CREDIT HOUSING. THE ORGANIZATION PROVIDES PROPERTY MANAGEMENT AND LEASING SERVICES FOR 759 LOW INCOME APARTMENT UNITS ANNUALLY.SOUTHWEST HOUSING SOLUTIONS IS RECOGNIZED AS A LEADER IN PROVIDING HIGH-QUALITY AFFORDABLE APARTMENTS AND TOWNHOUSES FOR RENT. WE PROVIDE OPPORTUNITIES FOR ALL RESIDENTS TO WORK TOGETHER TO IMPROVE THE QUALITY OF LIFE IN THE COMMUNITY. OUR MANAGEMENT TEAM IS EXPERIENCED AND BILINGUAL, AND COMMITTED TO RESIDENT SATISFACTION.DEVELOPMENT OF LOW INCOME/TAX CREDIT HOUSING. THE ORGANIZATION HAS DEVELOPED 16 LIHTC PROPERTIES SINCE 1998 AND CONTINUES EFFORTS FOR NEIGHBORHOOD REVITALIZATION THROUGH RESIDENTIAL AND COMMERCIAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Tuck Housing Director/officer | 37.5 | $132,508 | |
Stephanie Miller Chair | OfficerTrustee | 1 | $0 |
Mark Lezotte Vice Chair | OfficerTrustee | 1 | $0 |
Daniel Share Treasurer | OfficerTrustee | 1 | $0 |
Ron Rose Secretary | OfficerTrustee | 1 | $0 |
Joseph Tasse Interim President (through 03/2021) | Officer | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southwest Solutions Aso Fees | 9/29/21 | $947,664 |
Fpj Investments Llc Real Estate Service | 9/29/21 | $444,776 |
Turner & Townsend Consultants | 9/29/21 | $164,056 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,719,403 |
| Government grants | $1,300,176 |
| All other contributions, gifts, grants, and similar amounts not included above | $175,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,194,854 |
| Total Program Service Revenue | $3,596,750 |
| Investment income | $43,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$834,492 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $554,927 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,315,936 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,654 |
| 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 | $1,323,642 |
| Pension plan accruals and contributions | $19,623 |
| Other employee benefits | $185,212 |
| Payroll taxes | $84,230 |
| Fees for services: Management | $70,831 |
| Fees for services: Legal | $12,482 |
| Fees for services: Accounting | $41,411 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $976,483 |
| Advertising and promotion | $0 |
| Office expenses | $22,979 |
| Information technology | $4,000 |
| Royalties | $0 |
| Occupancy | $2,118,076 |
| Travel | $33,971 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $109,504 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $164,262 |
| Insurance | $36,602 |
| All other expenses | $15,326 |
| Total functional expenses | $5,697,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,238,929 |
| Savings and temporary cash investments | $3,345,553 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $385,945 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,806,770 |
| Inventories for sale or use | $1,027,249 |
| Prepaid expenses and deferred charges | $164,360 |
| Net Land, buildings, and equipment | $12,635,914 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $520,962 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,859,578 |
| Total assets | $38,985,260 |
| Accounts payable and accrued expenses | $1,927,875 |
| Grants payable | $0 |
| Deferred revenue | $1,847,900 |
| 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 | $6,484,114 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,453,752 |
| Total liabilities | $11,713,641 |
| Net assets without donor restrictions | $24,923,452 |
| Net assets with donor restrictions | $2,348,167 |
| 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 | $38,985,260 |
Grants Awarded
Over the last fiscal year, Southwest Housing Solutions Corporation has awarded $343,390 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
388 WEST GRAND BOULEVARD LDHALP PURPOSE: HUD SUPPORT | $84,496 |
388 WEST GRAND BOULEVARD LDHALP PURPOSE: HUD SUPPORT | $84,496 |
Detroit, MI PURPOSE: PASS THROUGH FUNDING - NWA | $63,000 |
Detroit, MI PURPOSE: PASS THROUGH FUNDING - NWA | $63,000 |
Detroit, MI PURPOSE: PASS THROUGH FUNDING - HUD | $24,199 |
Detroit, MI PURPOSE: PASS THROUGH FUNDING - HUD | $24,199 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Southwest Housing Solutions Corporation has recieved totaling $215,000.
| Awarding Organization | Amount |
|---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $115,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: EFFORTS TO TRANSFORM THE VERNOR VIADUCT THROUGH THE DEVELOPMENT OF A VIADUCT PARTNERSHIP | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |
Taylor Community Development Corp Taylor, MI | $29,334,174 | $14,242,807 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Western Reserve Revitalization & Management Co Cleveland, OH | $81,496,475 | $17,708,509 |
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |
Famicos Foundation Inc Cleveland, OH | $56,363,268 | $13,331,115 |
Mht Housing Inc Bingham Farms, MI | $103,750,395 | $19,352,676 |