2024-04-10T12:40:17-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2022-07-01 611154315 THE HOUSING PARTNERSHIP INC HOUS 5025855451 1512 CRUMS LANE 401 LOUISVILLE KY 40216 PATRICK CORNETT EXECUTIVE VICE PRESIDENT/CFO 5025855451 2024-04-10 1 PATRICK CORNETT 999009999 0 ELEANOR A LIVINGSTON CPA MST P00226461 8885871719 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANDREW HAWES 1512 CRUMS LANE 401 LOUISVILLE KY 40216 18591342 0 X WEAREHPI.ORG X 1988 KY TO CREATE, SUSTAIN AND PROMOTE ACCESS TO AFFORDABLE HOUSING OPPORTUNITIES. 22 21 45 39 0 0 1917082 4242994 7553325 6541881 -58619 10071 613602 1283349 10025390 12078295 2549 3305 0 0 2645995 2846695 0 0 0 7042555 7242468 9691099 10092468 334291 1985827 43644315 41057747 33901024 29328629 9743291 11729118 X WE ARE A NON-PROFIT REAL ESTATE DEVELOPMENT ORGANIZATION THAT CREATES AFFORDABLE HOUSING OPPORTUNITIES TO ENCOURAGE FAMILY STABILITY AND SUPPORT AND EMPOWER OUR COMMUNITY. OUR VISION IS FOR EVERYONE TO HAVE AN EXCEPTIONAL HOUSING EXPERIENCE. 0 0 4664854 3305 4233966 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. 666521 139790 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. 3557193 3122096 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. 8888568 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 44 0 1 45 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 KY X X PATRICK CORNETT 5025855451 1512 CRUMS LANE 401 LOUISVILLE KY 40216 ANDREW HAWES PRESIDENT 40.00 X X 155356 0 22327 CLAY STINNETT DIRECTOR 0.40 X 0 0 0 J BARRY BARKER DIRECTOR 0.40 X 0 0 0 MARK F WHEELER DIRECTOR 0.40 X 0 0 0 ANDREW PARKER DIRECTOR 0.40 X 0 0 0 ROBERT LOCKE DIRECTOR 0.40 X 0 0 0 ROBERT B VICE DIRECTOR 0.40 X 0 0 0 JOHN TRAWICK DIRECTOR 0.40 X 0 0 0 LESLIE K HALE DIRECTOR 0.40 X 0 0 0 CHUCK SCHRAM DIRECTOR 0.40 X 0 0 0 LORI FLANERY DIRECTOR 0.40 X 0 0 0 SCOTT G LOVE DIRECTOR 0.40 X 0 0 0 REV GERALD JOINER DIRECTOR 0.40 X 0 0 0 ERIC BOW DIRECTOR 0.40 X 0 0 0 JOHN KOEHLINGER DIRECTOR 0.40 X 0 0 0 BRIAN KARST DIRECTOR 0.40 X 0 0 0 YVONNE MCAFEE DIRECTOR 0.40 X 0 0 0 BILLIE W WADE DIRECTOR 0.40 X 0 0 0 RODDELL MCCULLOUGH DIRECTOR 0.40 X 0 0 0 TAMMY THOMAS BOARD CHAIR 0.40 X X 0 0 0 JENNIFER MOORE TREASURER 0.40 X X 0 0 0 MARIA BOUVETTE IMMEDIATE PAST BOARD CHAIR 0.40 X X 0 0 0 PATRICK CORNETT EXECUTIVE VICE PRESIDENT & CFO 40.00 X 119608 0 35448 LISA DESPAIN VICE PRESIDENT 40.00 X 141797 0 4765 MARIAN SILLIMAN SECRETARY 40.00 X 68874 0 9293 485635 0 71833 3 0 1 0 LARRY ALLEN HEATING & AIR CONDITIONING P O BOX 9133 LOUISVILLE KY 40209 HVAC REPAIR AND REPLACEMENT 318032 1 4124 2836500 1402370 4242994 PROPERTY MANAGEMENT 236000 3279995 3279995 HOUSING RESOURCES 531390 3122096 3122096 HOUSING PRODUCTION 531110 139790 139790 6541881 10071 -2457 12528 0 4124 6380 -6380 -6380 6734868 6506667 228201 228201 GAIN ON ACQUISITION 900099 728227 728227 MISCELLANEOUS REVENUE 900099 333301 333301 1061528 12078295 7495852 0 339449 3305 3305 557468 139367 418101 1972389 1666570 305819 149448 141274 8174 167390 119276 48114 16464 15712 752 96701 96701 163926 134446 29480 13809 7253 6556 137545 96909 40636 96068 81721 14347 1569099 1561797 7302 38719 32298 6421 1164088 1070081 94007 761933 745373 16560 90682 90682 TURN COSTS 1311352 1311352 COST OF SINGLE HOME SAL 1143395 1143395 DEVELOPMENT COSTS 293273 293273 MISCELLANEOUS EXPENSE 155491 155491 189923 169675 20248 10092468 8888568 1203900 0 1519009 1727583 2430837 3103624 118214 118286 544022 583191 762854 762854 2319101 2026845 301179 293515 24500074 3141115 25881769 21358959 5622300 5641830 4145030 5441060 43644315 41057747 2333062 2058744 60644 124536 28585145 23364038 2922173 3781311 33901024 29328629 X 7989655 8500582 1753636 3228536 9743291 11729118 43644315 41057747 1985827 0 X X 0 1 X 1 1 1 X 533208 1140485 1472817 1917082 4242994 9306586 533208 1140485 1472817 1917082 4242994 9306586 1051724 8254862 1450 5075 37033 4469 12528 60555 1302024 156962 322301 659465 1061528 3502280 12869421 51588605 0.64140 0.56130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2600113 2600113 21625738 2967954 18657784 274223 173161 101062 21358959 INVESTMENT IN HPN CAPTIVE INSURANCE 74000 C INVESTMENT IN KENTUCKY NWA ALLIANCE 1000 C INVESTMENT IN HPI, LLC PROJECTS 5566830 C 5641830 DEVELOPMENT FEES RECEIVABLE 694138 OTHER RECEIVABLE 4746922 5441060 X 12084675 6380 6380 12078295 0 12078295 10098848 6380 6380 10092468 0 10092468 PART X, LINE 2: THE ORGANIZATION HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING THAT IT IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION RECOGNIZES UNCERTAIN INCOME TAX POSITIONS USING THE "MORE-LIKELY-THAN-NOT" APPROACH AS DEFINED IN THE ASC. NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 6,380. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 6,380. X X 0 0 0 0 0 0 0 0 0 ANDREW HAWES PRESIDENT 155356 0 0 0 0 0 4939 0 17388 0 177683 0 0 0 PATRICK CORNETT EXECUTIVE VICE PRESIDENT & CFO 119608 0 0 0 0 0 4303 0 31145 0 155056 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PRESENTED TO THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS FOR RECOMMENDATION OF APPROVAL TO THE BOARD PRIOR TO FILING. THE BOARD GRANTS FINAL APPROVAL. A FINAL COPY OF THE FORM 990 IS PROVIDED TO THE GOVERNING BODY PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C WE HAVE A NEPOTISM AND PROCUREMENT POLICY. BEFORE NEW CONTRACTS ARE ENTERED INTO, WE REQUIRE A MINIMUM OF THREE BIDS FROM INDEPENDENT VENDORS AND CONTRACTORS AND ONE OF THE REQUIREMENTS IS THAT THEY PASS THE TEST OF NOT BEING RELATED TO AN EMPLOYEE OF OUR ORGANIZATION. ANNUAL CERTIFICATION BY THE BOARD OF DIRECTORS IS REQUIRED. KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST PRIOR TO ENGAGING IN THE ACTIVITY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES AN ONLINE RESOURCE PROVIDED THROUGH ITS HUMAN RESOURCE/PAYROLL PROVIDER TO EVALUATE COMPENSATION, INCLUDING THE PRESIDENT AND OFFICERS. FURTHERMORE, THE BOARD SECRETARY OBTAINS INFORMATION FROM NEIGHBORWORKS AMERICA TO EVALUATE COMPENSATION FOR ITS OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. THE ORGANIZATION MAINTAINS AN AUDIT AND FINANCE COMMITTEE COMPRISED EXCLUSIVELY OF DIRECTORS WHO SELECT THE INDEPENDENT ACCOUNTANT. THE COMMITTEEE MEETS WITH THE INDEPENDENT AUDITOR AT THE CONCLUSION OF THE ANNUAL AUDIT, INCLUDING AN EXECUTIVE SESSION WITHOUT MANAGEMENT. 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