New Directions Housing Corporation
- Assets
- $26.2m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 100
- Location
- Louisville, KY
- Founding
- 05/1972
- Data as of
- 06/2022
- EIN
- 61-0715630
Organization Overview
New Directions Housing Corporation is located in Louisville, KY. The organization was established in 1972. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, New Directions Housing Corporation employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Directions Housing 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 06/2022, New Directions Housing Corporation generated $9.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $11.4m during the year ending 06/2022. While expenses have increased by 7.4% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NEW DIRECTIONS HOUSING CORPORATION DEVELOPS AND MAINTAINS AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES - PROVIDE SHELTER AND SITE-BASED SOCIAL AND EDUCATIONAL SERVICES TO AID LOW INCOME INDIVIDUALS. NEW DIRECTIONS CONNECTS RESIDENTS TO THE RESOURCES THEY NEED TO MEET THEIR GOALS IN LIFE, INCLUDING SOCIAL SERVICES, YOUTH PROGRAMMING, COACHING, AND GROUP INFORMATIONAL SESSIONS.
RESIDENT SERVICES, REAL ESTATE DEVELOPMENT, COMMUNITY BUILDING AND ENGAGEMENT, AND EARLY CHILDHOOD DEVELOPMENT.
ASSET AND PROPERTY MANAGEMENT - MAINTAIN AND PRESERVE RENTAL HOUSING TO HELP LOW INCOME HOUSEHOLDS. NEW DIRECTIONS PROVIDES CLEAN, SAFE, AFFORDABLE, QUALITY HOUSING FOR MORE THAN 900 FAMILIES AND 1,800 INDIVIDUALS OF LOW INCOME, INCLUDING CHILDREN AND SENIORS, IN OUR COMMUNITY'S MOST ECONOMICALLY DISADVANTAGED NEIGHBORHOODS.
HOME REPAIR - INCREASE AND PRESERVE AFFORDABLE HOUSING, PRIMARILY IN LOUISVILLE'S WEST END NEIGHBORHOODS. NEW DIRECTIONS MOBILIZES COMMUNITY-WIDE RESOURCES AND HAD APPROXIMATELY 800 VOLUNTEERS THIS FISCAL YEAR TO ASSIST LOW TO MODERATE INCOME SENIORS AND DISABLED HOMEOWNERS WITH ESSENTIAL HOME REPAIRS. IN ADDITION, WE PROVIDE LOW TO MODERATE INCOME HOMEOWNERS WITH LARGER HOME REPAIR OPPORTUNITIES USING PAID CONTRACTORS TO ASSIST WITH HOME OWERSHIP RETENTION AND GERATIONAL WEALTH BUILDING. THIS EFFORT HELPS PREVENT AND COMBAT THE ISSUE OF VACANT AND ABANDONED PROPERTIES AND GENTRIFICATION IN OUR CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anitra Durand Allen Director | Trustee | 0.25 | $0 |
Ed Blayney Director | Trustee | 0.25 | $0 |
Tricia Burke Director | Trustee | 0.25 | $0 |
Heather M Dearing Director | Trustee | 0.25 | $0 |
Jackie Floyd Director | Trustee | 0.25 | $0 |
Darrell Fuller Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Louisville Mechanical Services Inc Construction Services | 6/29/22 | $299,558 |
Dixie Plumbing Inc Plumbing Services | 6/29/22 | $156,384 |
Hardworking Custom Construction Llc Construction Services | 6/29/22 | $136,364 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $188,705 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $61,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,725,867 |
| Noncash contributions included in lines 1a–1f | $779 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,975,912 |
| Total Program Service Revenue | $6,622,206 |
| Investment income | $82,168 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,200 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,717,897 |
| 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. | $807,611 |
| Compensation of current officers, directors, key employees. | $103,179 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,666,649 |
| Pension plan accruals and contributions | $25,709 |
| Other employee benefits | $150,699 |
| Payroll taxes | $254,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,466 |
| Fees for services: Accounting | $76,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $426,314 |
| Advertising and promotion | $3,332 |
| Office expenses | $174,255 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,152,384 |
| Travel | $43,818 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,571 |
| Interest | $530,850 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,218,312 |
| Insurance | $420,803 |
| All other expenses | $184,147 |
| Total functional expenses | $11,385,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $637,505 |
| Savings and temporary cash investments | $2,708,825 |
| Pledges and grants receivable | $658,339 |
| Accounts receivable, net | $577,472 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,008,941 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $212,677 |
| Net Land, buildings, and equipment | $16,999,031 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,395,806 |
| Total assets | $26,198,596 |
| Accounts payable and accrued expenses | $1,844,829 |
| Grants payable | $0 |
| Deferred revenue | $190,810 |
| 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 | $11,855,364 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $103,622 |
| Total liabilities | $13,994,625 |
| Net assets without donor restrictions | $10,627,891 |
| Net assets with donor restrictions | $1,576,080 |
| 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 | $26,198,596 |