Chn Housing Capital
- Assets
- $11.1m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Cleveland, OH
- Founding
- 02/2019
- Data as of
- 12/2023
- EIN
- 82-4300537
Organization Overview
Chn Housing Capital is located in Cleveland, OH. The organization was established in 2019. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2023, Chn Housing Capital employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chn Housing Capital 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 12/2023, Chn Housing Capital generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $2.7m during the year ending 12/2023. 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
CHN HOUSING CAPITAL IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION SERVING LOW-INCOME INDIVIDUALS AND DISTRESSED COMMUNITIES GUIDED BY THE BELIEF THAT HOMEOWNERSHIP SHOULD BE WITHIN EVERYONE'S REACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN TOTAL, CHN HC CLOSED 43 MORTGAGES IN 2023 (BELIEVE MORTGAGES AND Y16 LOAN PRODUCT). CHN HC'S BELIEVE MORTGAGE HAD 96% OF BORROWERS IDENTIFY AS AFRICAN AMERICAN AND 100% OF APPRAISALS WERE AT OR ABOVE PURCHASE PRICE.
IN 2022, CHN HOUSING CAPITAL CONTINUED LENDING OPERATIONS FOR THE LEAD SAFE HOME FUND PROVIDING LOANS TO HELP LANDLORDS OBTAIN LEAD SAFE CERTIFICATION REQUIRED BY THE CITY OF CLEVELAND. THE LEAD SAFE HOME FUND WAS CREATED BY THE LEAD SAFE CLEVELAND COALITION, A GROUP OF OVER 400 ORGANIZATIONS WORKING TO ELIMINATE LEAD POISONING IN CLEVELAND'S AGING HOUSE STOCK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Warren President | OfficerTrustee | 1 | $0 |
Carolyn Galloway Vice President | OfficerTrustee | 1 | $0 |
Sahnara Hendrix Secretary | OfficerTrustee | 1 | $0 |
Jim Poznik Treasurer | OfficerTrustee | 1 | $0 |
Caroline Peak Director | Trustee | 1 | $0 |
Kathy Hexter Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $593,482 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $196,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,368,099 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,158,331 |
| Total Program Service Revenue | $248,786 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,434 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,431,806 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $737,248 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $189,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $152,037 |
| Advertising and promotion | $0 |
| Office expenses | $12,504 |
| Information technology | $57,069 |
| Royalties | $0 |
| Occupancy | $24,061 |
| Travel | $2,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,193 |
| Interest | $28,434 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,588 |
| Insurance | $27,558 |
| All other expenses | $0 |
| Total functional expenses | $2,728,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,344,689 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $523,409 |
| Accounts receivable, net | $739,660 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,465,572 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,504 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,088,834 |
| Accounts payable and accrued expenses | $168,782 |
| Grants payable | $0 |
| Deferred revenue | $919,652 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $292,905 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,387,811 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $677,336 |
| Total liabilities | $9,446,486 |
| Net assets without donor restrictions | $1,642,348 |
| 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 | $11,088,834 |