New Directions Housing Corporation
- Assets
- $27.7m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 84
- Location
- Louisville, KY
- Founding
- 05/1972
- Data as of
- 06/2021
- 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 06/2021, New Directions Housing Corporation employed 84 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 06/2021, New Directions Housing Corporation generated $9.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $9.9m during the year ending 06/2021. While expenses have increased by 6.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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.
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 OWNERSHIP PRESERVATION - INCREASE AND PRESERVE AFFORDABLE HOUSING, PRIMARILY IN LOUISVILLE'S WEST END NEIGHBORHOODS. NEW DIRECTIONS MOBILIZES COMMUNITY-WIDE RESOURCES AND HAD APPROXIMATELY 582 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 THROUGH LOW-INTEREST OR FORGIVABLE LOANS IN AN EFFORT TO PREVENT AND COMBAT THE ISSUE OF VACANT AND ABANDONED PROPERTIES IN OUR CITY.
RESIDENT SERVICES, REAL ESTATE DEVELOPMENT, COMMUNITY BUILDING AND ENGAGEMENT, AND EARLY CHILDHOOD DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Flanery President/ceo | Officer | 40 | $173,965 |
Bridgette Johnson COO | Officer | 40 | $147,624 |
Kathleen Mckune Cro | Officer | 40 | $138,500 |
David Snyder Cdo | Officer | 40 | $97,551 |
George Sanders Cio | Officer | 40 | $81,645 |
Leah Driver CFO | Officer | 40 | $55,244 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jeremy Jacobs Construction | 6/29/20 | $698,133 |
The Mengel Company Construction | 6/29/20 | $306,000 |
Lifestone Dynamic Llc Construction | 6/29/20 | $218,360 |
Rai Engineering Construction | 6/29/20 | $240,244 |
Jeremy Jacobs Construction | 6/29/20 | $698,133 |
Eric Mueller Construction | 6/29/20 | $149,165 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $692,667 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $803,243 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,741,937 |
| Noncash contributions included in lines 1a–1f | $96,491 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,237,847 |
| Total Program Service Revenue | $6,560,807 |
| Investment income | $64,590 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,929 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,868,214 |
| 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. | $789,085 |
| Compensation of current officers, directors, key employees. | $79,955 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,306,257 |
| Pension plan accruals and contributions | $6,645 |
| Other employee benefits | $166,587 |
| Payroll taxes | $236,739 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,195 |
| Fees for services: Accounting | $101,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,793 |
| Advertising and promotion | $3,958 |
| Office expenses | $190,399 |
| Information technology | $40,366 |
| Royalties | $0 |
| Occupancy | $2,331,351 |
| Travel | $36,609 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,141 |
| Interest | $389,699 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,251,745 |
| Insurance | $296,362 |
| All other expenses | $65,572 |
| Total functional expenses | $9,869,389 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,362,329 |
| Savings and temporary cash investments | $3,504,649 |
| Pledges and grants receivable | $213,162 |
| Accounts receivable, net | $581,740 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,931,895 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $198,389 |
| Net Land, buildings, and equipment | $17,847,085 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,098,602 |
| Total assets | $27,737,851 |
| Accounts payable and accrued expenses | $1,340,693 |
| Grants payable | $0 |
| Deferred revenue | $193,150 |
| 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 | $12,225,335 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $107,581 |
| Total liabilities | $13,866,759 |
| Net assets without donor restrictions | $12,219,185 |
| Net assets with donor restrictions | $1,651,907 |
| 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 | $27,737,851 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that New Directions Housing Corporation has recieved totaling $568,155.
| Awarding Organization | Amount |
|---|---|
Gheens Foundation Inc Louisville, KY PURPOSE: HOMEOWNERSHIP PRESERVATION - REPAIR AFFAIR | $300,000 |
Metro United Way Inc Louisville, KY PURPOSE: Youth services | $111,700 |
Norton Healthcare Inc Louisville, KY PURPOSE: Support New Directions Housing Corporation 'I Rise" and "Repair Affair" programs by addressing housing and family self-sufficiency needs in our community | $50,000 |
C E And S Foundation Inc Louisville, KY PURPOSE: I RISE - A FAMILY SELF SUFFICIENCY (FSS) PROGRAM | $45,000 |
Neighborhood Risk Management Corporation New York, NY PURPOSE: DISTRIBUTION TO ORGANIZATION | $25,654 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $19,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Contacts Inc Elgin, IL | $3,819,582 | $12,869,082 |
People Incorporated Housing Group Abingdon, VA | $23,796,045 | $13,192,041 |
New Directions Housing Corporation Louisville, KY | $27,737,851 | $9,868,214 |
Chicago Metropolitan Housing Development Corporation Chicago, IL | $46,092,100 | $7,394,940 |
Habitat For Humanity International Inc Charlottesville, VA | $30,158,834 | $8,198,441 |
West Chicago Preservation Corp Chicago, IL | $9,151,204 | $2,715,959 |
Cedar Lake Residences Inc Louisville, KY | $2,301,086 | $7,918,008 |
Bridges Community Action Partnership Marysville, OH | $6,792,515 | $6,372,376 |
Ahepa Affordable Housing Management Company Inc Fishers, IN | $29,875,447 | $8,886,631 |
Justine Petersen Housing And Reinvestment Corporation Saint Louis, MO | $49,338,747 | $7,649,655 |
Central Ohio Community Land Trust Columbus, OH | $2,592,192 | $4,520,471 |
Bridge Communities Inc Glen Ellyn, IL | $16,127,143 | $5,545,489 |