Housing Partnership Inc
- Assets
- $41.1m
- Revenue
- $12.1m
- Investments
- $0.0
- Employees
- 45
- Location
- Louisville, KY
- Founding
- 01/1990
- Data as of
- 06/2023
- EIN
- 61-1154315
Organization Overview
Housing Partnership Inc is located in Louisville, KY. The organization was established in 1990. 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, Housing Partnership Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Partnership 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 06/2023, Housing Partnership Inc generated $12.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $10.1m during the year ending 06/2023. While expenses have increased by 1.6% 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
TO CREATE, SUSTAIN AND PROMOTE ACCESS TO AFFORDABLE HOUSING OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET OVERSIGHT: THE ORGANIZATION PROVIDES ASSET OVERSIGHT AND SERVICES TO RESIDENTS INCLUDING MAINTENANCE IN THE PROPERTIES WHICH IT HAS DEVELOPED OR ACQUIRED FOR THE PURPOSES OF EXPANDING THE HIGH QUALITY AFFORDABLE HOUSING SUPPLY IN ITS SERVICE AREA.
HOUSING PRODUCTION AND REAL ESTATE DEVELOPMENT: THE ORGANIZATION DEVELOPS AND FACILITATES THE DEVELOPMENT OF HOUSING THAT IS AFFORDABLE TO LOW AND MODERATE INCOME BUYERS AND RENTERS IN THE REGION. OVER THE PAST TWENTY YEARS, THE ORGANIZATION HAS SOLIDIFIED ITS REPUTATION AS THE AREA'S DEVELOPER OF CHOICE FOR MODESTLY-PRICED HOUSING. THE ORGANIZATION HAS EXCELLED IN THE FOLLOWING AREAS: * THE DEVELOPMENT OF AFFORDABLE AND MIXED-INCOME NEIGHBORHOODS THROUGHOUT THE LOUISVILLE REGION. * BUILDING PARTNERSHIPS TO REVITALIZE NEIGHBORHOODS AND ABANDONED AND UNDERUTILIZED URBAN PROPERTIES. * LEADING THE NON-PROFIT SECTOR IN REDEVELOPING DISTRESSED URBAN NEIGHBORHOODS.
HOUSING RESOURCES: THE ORGANIZATION'S FINANCIAL COUNSELING AND EDUCATION PROGRAM IS HUD CERTIFIED. IN ADDITION TO COUNSELING AND EDUCATION, THIS PROGRAM ALSO OVERSEES THE SALE OF OUR SINGLE-FAMILY HOMES BY PROVIDING AFFORDABLE HOUSING OPPORTUNITIES TO OUR EXISTING RESIDENTS AND IN OUR COMMUNITY. 216 HOMEOWNERS WERE CREATED WITH THE SALE OF OUR HOMES. OVER 6,627 HOMEBUYERS AND POTENTIAL HOMEBUYERS HAVE BEEN ASSISTED IN PREPARING FOR, OR SUSTAINING, HOME OWNERSHIP THROUGH FINANCIAL COUNSELING PROGRAMS. NEARLY 1,892 PROGRAM GRADUATES HAVE PURCHASED HOMES AS A RESULT OF THE WORK OF THE ORGANIZATION. IN ADDITION TO HOME OWNERSHIP EDUCATION, THE PROGRAM HAS HELPED OVER 9,941 FAMILIES AVOID FORECLOSURES SINCE 2008. THE ORGANIZATION'S PROGRAM HAS BEEN RECOGNIZED BY KENTUCKY HOUSING CORPORATION FOR OUTSTANDING EFFORTS IN PREDATORY LENDING EDUCATION. THE ORGANIZATION ALSO RESPONDS TO THE MOST FRAGILE HOUSEHOLDS ON THE ECONOMIC SCALE BY PROVIDING BASIC BUDGET AND CREDIT COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Hawes President | OfficerTrustee | 40 | $155,356 |
Clay Stinnett Director | Trustee | 0.4 | $0 |
J Barry Barker Director | Trustee | 0.4 | $0 |
Mark F Wheeler Director | Trustee | 0.4 | $0 |
Andrew Parker Director | Trustee | 0.4 | $0 |
Robert Locke Director | Trustee | 0.4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Abn Restoration Inc Contracted To Rehab Old Houses | 6/29/22 | $817,525 |
Hicks Enterprises Contracted To Rehab Old Houses | 6/29/22 | $480,967 |
Buky Construction General Contractor | 6/29/22 | $375,359 |
Larry Allen Heating & Air Conditioning Hvac Repair And Replacement | 6/29/22 | $366,317 |
Franklin Remodeling General Contractor | 6/29/22 | $342,351 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,124 |
| Related organizations | $0 |
| Government grants | $2,836,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,402,370 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,242,994 |
| Total Program Service Revenue | $6,541,881 |
| Investment income | $10,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$6,380 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $228,201 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,078,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,305 |
| 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. | $557,468 |
| Compensation of current officers, directors, key employees. | $418,101 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,972,389 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $149,448 |
| Payroll taxes | $167,390 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,464 |
| Fees for services: Accounting | $96,701 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $163,926 |
| Advertising and promotion | $13,809 |
| Office expenses | $137,545 |
| Information technology | $96,068 |
| Royalties | $0 |
| Occupancy | $1,569,099 |
| Travel | $38,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,164,088 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $761,933 |
| Insurance | $90,682 |
| All other expenses | $189,923 |
| Total functional expenses | $10,092,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,727,583 |
| Savings and temporary cash investments | $3,103,624 |
| Pledges and grants receivable | $118,286 |
| Accounts receivable, net | $583,191 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $762,854 |
| Inventories for sale or use | $2,026,845 |
| Prepaid expenses and deferred charges | $293,515 |
| Net Land, buildings, and equipment | $21,358,959 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,641,830 |
| Intangible assets | $0 |
| Other assets | $5,441,060 |
| Total assets | $41,057,747 |
| Accounts payable and accrued expenses | $2,058,744 |
| Grants payable | $0 |
| Deferred revenue | $124,536 |
| 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 | $23,364,038 |
| Unsecured mortgages and notes payable | $3,781,311 |
| Other liabilities | $0 |
| Total liabilities | $29,328,629 |
| Net assets without donor restrictions | $8,500,582 |
| Net assets with donor restrictions | $3,228,536 |
| 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 | $41,057,747 |