2024-11-01T12:19:26-04:00 2024-06-30 841255164 KUNDINGER CORDER & MONTOYA PC 475 LINCOLN STREET SUITE 200 DENVER CO 80203 990 2023-07-01 742229383 COLORADO HOUSING ASSISTANCE CORPORATION COLO 3035729445 670 SANTA FE DR DENVER CO 802044427 VERONICA WARE INTERIM EXEC DIR 3035729445 2024-11-01 false TIFFANY KNIGHT P01725779 3035345953 2024-11-01 2023 2024-10-15 13:58:12Z VERONICA WARE 670 SANTA FE DR DENVER CO 802044427 1572293 false X WWW.CHACONLINE.ORG X 1982 CO PROVIDE EDUCATION, COUNSELING AND FINANCIAL ASSISTANCE TO LOW AND MODERATE INCOME HOMEOWNERS. 12 12 7 12 0 454924 961533 523134 410883 55932 195176 4995 3125 1038985 1570717 135644 826186 0 597594 612195 0 0 340487 241873 1073725 1680254 -34740 -109537 15310203 15362592 1752836 1914762 13557367 13447830 X COLORADO HOUSING ASSISTANCE CORPORATION (CHAC) WAS ESTABLISHED IN 1982 TO HELP MAKE HOUSING AND SUCCESSFUL HOMEOWNERSHIP AFFORDABLE TO LOW AND MODERATE INCOME COLORADANS BY OFFERING PROGRAMS (CONTINUED ON SCHEDULE O) false false 1018901 826186 237309 LOAN ORIGINATION: FIRST TIME HOMEBUYER PROGRAMS FOR LOW AND MODERATE INCOME INDIVIDUALS AND THOSE WITH DISABILITIES. ALL LOANS ARE SECOND MORTGAGE LOANS AND ARE BEING GIVEN TO THOSE WHO CANNOT OBTAIN TRADITIONAL FINANCING WITHOUT ASSISTANCE. FORECLOSURE PREVENTION LOAN PROGRAM FOR ASSISTANCE TO HOMEOWNERS WITH CREDIT AND PAYMENT PROBLEMS. 271275 81616 LOAN SERVICING FOR THE LOANS ORIGINATED WITH THE FIRST TIME HOMEBUYER AND FORECLOSURE PREVENTION LOAN PROGRAMS. 246734 91958 HOME OWNERSHIP COUNSELING AND EDUCATION FOR FIRST TIME HOMEBUYERS AND THOSE FACING FORECLOSURES. 1536910 true true false false false false false false false false true false false false true false true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 5 0 true 7 true false false false false false false false false false false false false X 12 12 false false false false false false false true true false false true true true true true true true true false X VERONICA WARE 3035729445 670 SANTA FE DR DENVER CO 802044427 MICHELLE MITCHELL PRESIDENT 40.00 X 122072 0 3662 LINDA NAPIER VICE PRESIDE 40.00 X 117928 0 3538 DAN MCMAHON BOARD CHAIR 1.00 X X 0 0 0 NAOMI HUBERT VICE CHAIR 1.00 X X 0 0 0 LARRY NELSON SECRETARY 1.00 X X 0 0 0 SUSAN ALIRES ASST. SECRET 1.00 X X 0 0 0 WILLIAM STEITZ TREASURER 1.00 X X 0 0 0 MICHAEL GILBERT BOARD MEMBER 1.00 X 0 0 0 RODGER HARA BOARD MEMBER 1.00 X 0 0 0 ROBERT HAMPTON BOARD MEMBER 1.00 X 0 0 0 LEAH DIRKS BOARD MEMBER 1.00 X 0 0 0 SHERAP THARCHEN BOARD MEMBER 1.00 X 0 0 0 JOSH CASHMAN BOARD MEMBER 1.00 X 0 0 0 IRENE WEHRWEIN BOARD MEMBER 1.00 X 0 0 0 240000 7200 2 false false false 957029 4504 961533 LOAN INTEREST REVENUE 900099 141180 141180 LOAN RECOVERY INCOME 900099 96129 96129 COUNSELING & EDUCATION FEES 900099 91958 91958 ORIGINATION/SERVICING FEES 900099 81616 81616 410883 195176 195176 3650 1576 2074 2074 2074 OTHER INCOME 900099 1051 1051 1051 1570717 411934 197250 826186 826186 281547 238172 43375 265478 233195 32283 6809 5868 941 20479 17587 2892 37882 32578 5304 36967 7000 29967 23711 18891 4820 7098 7098 54188 47956 6232 182 156 26 3000 3000 22090 18998 3092 22766 19579 3187 PROVISION FOR LOAN LOSSES 51982 51982 MISCELLANEOUS EXPENSES 10575 6897 3678 GENERAL LOAN EXPENSE 5615 5615 BANK AND OTHER FEES 3292 2843 449 407 407 1680254 1536910 143344 0 1661647 1831096 4519870 4406363 8672 498781 435716 8082477 8156194 14809 14866 979568 461211 523947 518357 15310203 15362592 63480 63448 79400 79400 1609956 1771914 1752836 1914762 X 6039325 6564695 7518042 6883135 13557367 13447830 15310203 15362592 X -109537 X X false true X true true true X 417917 755138 415440 454924 961533 3004952 417917 755138 415440 454924 961533 3004952 33760 2971192 30704 7004 6537 63982 198826 307053 3312005 2770932 0.89710 0.92620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 190000 190000 629118 341926 287192 160450 119285 41165 518357 REFUNDABLE ADVANCE 1071914 EQUITY EQUIVALENT INVESTMENTS 700000 1771914 1572293 1572293 -1576 -1576 1570717 1681830 1576 1576 1680254 1680254 SCHEDULE D, PAGE 4, PART XI, LINE 4B RENTAL EXPENSE NETTED AGAINST RENTAL INCOME FOR TAX REPORT -1,576 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENTAL EXPENSE NETTED AGAINST RENTAL INCOME FOR TAX REPORT 1,576 true EMERGENCY MORTGAGE ASSIST 67 826186 SCHEDULE I, PAGE 1, PART I, LINE 2 COLORADO HOUSING ASSISTANCE CORPORATION (CHAC) MAINTAINS RECORDS FOR SUBSTANTIATING LOAN ORIGINATION AND SERVICING FOR THEIR MORTGAGE ASSISTANCE PROGRAMS. THROUGH THIS PROCESS, CHAC ALSO MAINTAINS RECORDS ON LOANS FACING FINANCIAL HARDSHIPS, WHICH, AS A RESULT OF FUNDS AWARDED TO CHAC, HAVE RECEIVED EMERGENCY FINANCIAL ASSISTANCE IN THE FORM OF A GRANT. FORM 990, PART III (CONTINUED) THAT CREATE AND PRESERVE HOMEOWNERSHIP, PREVENT DISPLACEMENT OF LONG-TERM NEIGHBORHOOD RESIDENTS, STABILIZE NEIGHBORHOODS, AND INTRODUCE INNOVATIVE WAYS TO MOBILIZE PRIVATE AND PUBLIC INVESTMENT TO ACHIEVE THESE GOALS. CHAC ACTIVITIES INCLUDE ORIGINATING AND SERVICING SECOND MORTGAGE LOANS AND GRANTS, AND COUNSELING AND EDUCATION TO INCREASE AND MAINTAIN HOME OWNERSHIP OPPORTUNITIES THROUGHOUT THE STATE OF COLORADO. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT AND MADE AVAILABLE TO THE BOARD FOR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION RELIES ON BOARD MEMBERS AND MANAGEMENT TO SELF DISCLOSE ANY CONFLICTS OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS REVIEWS THE SALARY OF THE PRESIDENT AND VICE PRESIDENT ON AN ANNUAL BASIS. THESE REVIEWS INCLUDE SALARY INFORMATION OBTAINED DIRECTLY BY BOARD MEMBERS OR FROM OTHER LOCAL SOURCES. FORM 990, PAGE 6, PART VI, LINE 15B (SEE ABOVE) FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE BY DIRECT REQUEST OR THROUGH VARIOUS PUBLIC ACCESS WEBSITES. THE ORGANIZATION'S WEBSITE HAS A GRIEVANCE POLICY POSTED AS WELL AS ABBREVIATED FINANCIAL INFORMATION OBTAINED FROM ITS POSTED ANNUAL REPORT. FORM 990, PART XI, LINE 9 RENTAL EXPENSE NETTED AGAINST RENTAL INCOME FOR TAX REPORT 1,576 RENTAL EXPENSE NETTED AGAINST RENTAL INCOME FOR TAX REPORT -1,576 FORM 990, PART XII LINE 2C COLORADO HOUSING ASSISTANCE CORPORATION'S BOARD OF DIRECTORS ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.