2024-11-15T16:14:25-06:00 2023-12-31 382157642 MANER COSTERISAN PC 2425 E GRAND RIVER SUITE 1 LANSING MI 489123291 990 2023-01-01 383337549 HOMESTRETCH NONPROFIT HOUSING CORPORATION HOME 2319476001 400 BOARDMAN AVE 10 TRAVERSE CITY MI 49684 GEOFF STREIT PRESIDENT 2319476001 2024-11-14 1 1 AMBER RATHBUN CPA P01786612 5173237500 2024-11-14 2023 2024-10-15 13:58:12Z GEOFF STREIT 400 BOARDMAN AVE 10 TRAVERSE CITY MI 49684 3070311 0 X WWW.HOMESTRETCHHOUSING.ORG X 1996 MI TO PROVIDE DECENT, AFFORDABLE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME. 13 13 6 13 0 0 212135 2260630 48149 354039 86 6678 45899 448964 306269 3070311 0 0 0 0 39267 254046 0 0 0 87086 717358 126353 971404 179916 2098907 5531503 7360646 4189556 3909665 1341947 3450981 X TO PROVIDE DECENT, AFFORDABLE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME. WE SHALL PROVIDE AND PRESERVE THE QUALITY AND AFFORDABILITY OF HOUSING FOR PRESENT AND FUTURE LOW TO MODERATE INCOME RESIDENTS OF THE COMMUNITY. 0 0 771522 803003 HOMESTRETCH NONPROFIT HOUSING CORPORATION ADDED 8 TOWNHOUSE RENTAL UNITS (VINEYARD VIEW APARTMENTS IN SUTTONS BAY) TO ITS INVENTORY WHICH WAS PLACED IN SERVICE ON 12/21/2023. THE ORGANIZATION ALSO RECEIVED SUFFICIENT FUNDING OF $3.1M TO BREAK GROUND ON 9/18/2023 TO CONSTRUCT 12 TOWNHOUSE RENTAL UNITS (LAKE AND MAIN APARTMENTS), RECEIVED SUFFICIENT FUNDING OF $2.54M TO BREAK GROUND ON 9/23/2023 TO CONSTRUCT 10 RENTAL UNITS (CARVER APARTMENTS), AND RECEIVED $50,000 USDA RD GRANT TO COUPLE WITH $20,000 INTERNAL FUNDING FOR NEW EMPLOYEE TITLED "REAL ESTATE DEVELOPMENT DIRECTOR". IN 2023 THE ORGANIZATION FORMED A PARTNERSHIP (JV AGREEMENT) WITH WALLICK COMMUNITIES TO DEVELOP 192 WORKFORCE APARTMENTS IN BLAIR TOWNSHIP, AND PAID OFF CARVER STREET INTEREST ONLY LOAN ($90,000). HOMESTRETCH NONPROFIT HOUSING CORPORATION RECEIVED BAY OAKS TOWNHOMES "DISCHARGE OF MORTGAGE" FROM MSHDA AFTER MEETING THE 25-YEAR REGULATORY COMPLIANCE PERIOD SUCCESSFULLY. 771522 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 22 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 MI X TINA RENAULT 2319476001 400 BOARDMAN AVE SUITE 10 TRAVERSE CITY MI 49684 JONATHAN C STIMSON EXECUTIVE DIRECTOR 40.00 X 101914 0 1276 THOMAS CRONIN VICE PRESIDENT 4.00 X X 8250 0 0 MARILYN CHRUMKA DIRECTOR 2.00 X 0 0 0 KRISTINA SCHNEPF DIRECTOR 2.00 X 0 0 0 BRIANA WALTER DIRECTOR 2.00 X 0 0 0 TIM BURDEN DIRECTOR 2.00 X 0 0 0 MICHAEL BRODSKY DIRECTOR 2.00 X 0 0 0 LANE T PLAMONDON DIRECTOR 2.00 X 0 0 0 JAMES HENDERSON DIRECTOR 2.00 X 0 0 0 JIM LEMIRE DIRECTOR 2.00 X 1800 0 0 MARIE PORTER DIRECTOR 2.00 X 0 0 0 CLAIRE KARNER DIRECTOR 2.00 X 0 0 0 NICOLE HOWARD SECRETARY 4.00 X X 0 0 0 SARNA SALZMAN TREASURER 4.00 X X 0 0 0 GEOFF STREIT PRESIDENT 4.00 X X 0 0 0 111964 0 1276 1 0 0 0 PETERSON BUILT SERVICES 7645 CRAM ROAD WILLIAMSBURG MI 49690 CONSTRUCTION 119740 1 1677538 583092 115519 2260630 ADMINISTRATIVE FEES 532000 224307 224307 CONSTRUCTION 236000 129732 129732 354039 6678 6678 422200 0 422200 422200 422200 MISCELLANEOUS INCOME 900099 26764 26764 26764 3070311 803003 0 6678 113240 84930 28310 118620 88965 29655 22186 16640 5546 115170 115170 33264 6653 26611 84279 37150 47129 3021 3021 25714 25714 84560 78593 5967 10435 10435 850 638 212 124293 124293 98944 98944 29231 20452 8779 REPAIRS AND MAINTENANCE 93997 84597 9400 MISCELLANEOUS 11476 11476 SUBSCRIPTIONS AND DUES 2124 2124 971404 771522 199882 0 816071 792721 162508 272144 37984 33935 9114 0 7068618 977995 3729091 6090623 776735 171223 5531503 7360646 170385 181054 54160 0 3950103 3706275 14908 22336 4189556 3909665 X 519023 1528057 822924 1922924 1341947 3450981 5531503 7360646 2098907 10127 0 X 0 1 X 1 0 X 38618 250328 815468 212135 2260630 3577179 38618 250328 815468 212135 2260630 3577179 891235 2685944 122538 133540 226708 45462 428678 956926 1468 437 26764 28669 4562774 877813 0.58870 0.44120 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2021 AMOUNT: $ 1,468. 2022 AMOUNT: $ 437. 2023 AMOUNT: $ 26,764. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 852898 852898 2363665 960688 1402977 20004 17307 2697 3832051 3832051 6090623 TENANT SECURITY DEPOSITS 6168 LEASE LIABILITY 16168 22336 X 3376580 306269 306269 3070311 0 3070311 1097757 126353 126353 971404 0 971404 PART X, LINE 2: IN THE PREPARATION OF INFORMATIONAL TAX RETURNS, TAX POSITIONS ARE TAKEN BASED ON INTERPRETATION OF FEDERAL, STATE, AND LOCAL INCOME TAX LAWS. MANAGEMENT PERIODICALLY REVIEWS AND EVALUATES THE STATUS OF UNCERTAIN TAX POSITIONS AND MAKES ESTIMATES OF AMOUNTS, INCLUDING INTEREST AND PENALTIES, ULTIMATELY DUE OR OWED. NO AMOUNTS HAVE BEEN IDENTIFIED, OR RECORDED, AS UNCERTAIN TAX POSITIONS. FEDERAL, STATE, AND LOCAL TAX RETURNS GENERALLY REMAIN OPEN FOR EXAMINATION BY THE VARIOUS TAXING AUTHORITIES FOR A PERIOD OF THREE TO FOUR YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SHORT PERIOD RETURN REVENUE INCLUDED IN LONG PERIOD AUDITED FS 306,269. PART XII, LINE 2D - OTHER ADJUSTMENTS: SHORT PERIOD RETURN EXPENSES INCLUDED IN LONG PERIOD AUDITED FS 126,353. MELISSA BEGLEY FAMILY MEMBER OF JONATHAN C. STIMSON, EXECUTIVE DIRECTOR 26729 EMPLOYEE COMPENSATION 0 X 1 115519 LAND 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE COMPLETE FORM 990 WAS ELECTRONICALLY SENT TO ALL VOTING BOARD MEMBERS PRIOR TO FILING. EACH MEMBER HAD THE OPPORTUNITY TO RESPOND WITH QUESTIONS OR CONCERNS. WHEN ALL CONCERNS WERE SATISFIED, FORM 990 WAS FILED AND A PAPER COPY OF THE FINAL FORM 990 WAS MADE AVAILABLE TO ALL BOARD MEMBERS AT THE NEXT SCHEDULED BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND OFFICERS ARE REQUIRED TO GIVE THE BOARD NOTICE OF ANY ISSUE THAT MAY CREATE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD DOES THE ANNUAL PERFORMANCE REVIEW. THE TOP MANAGEMENT'S SALARY WAS DETERMINED USING DATA FROM THE AREA NON-PROFITS AND THEN ADJUSTED FOR ALLOWANCE IN THE BUDGETING PROCESS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, MINUTES, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST. THESE DOCUMENTS ARE INCLUDED IN THE BOARD OF DIRECTORS BINDER LOCATED IN THE ADMINISTRATIVE OFFICE. OAKWOOD LIMITED DIVIDEND HOUSING ASSOCIATION LLC 400 BOARDMAN AVENUE SUITE 10 TRAVERSE CITY MI 49684 383337549 LOW INCOME HOUSING MI 1247 1194620 HOMESTRETCH NONPROFIT HOUSING CORPORATION HONOR LIMITED DIVIDEND HOUSING ASSOCIATION LLC 400 BOARDMAN AVENUE SUITE 10 TRAVERSE CITY MI 49684 383337549 LOW INCOME HOUSING MI 51761 1603843 HOMESTRETCH NONPROFIT HOUSING CORPORATION VINEYARD VIEW LIMITED DIVIDEND HOUSING ASSOCIATION LLC 400 BOARDMAN AVENUE SUITE 10 TRAVERSE CITY MI 49684 383337549 LOW INCOME HOUSING MI 167206 1785287 HOMESTRETCH NONPROFIT HOUSING CORPORATION KEYSTONE VILLAGE LDHA LP 400 BOARDMAN AVE TRAVERSE CITY MI 49684 263800684 RENTAL REAL ESTATE MI HOMESTRETCH NONPROFIT HOUSING CORPORATION RELATED -8 231221 0 1 0.00010 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0