2025-11-17T11:55:36-06:00 2025-06-30 561445619 NEAL BRADSHER & TAYLOR PA 4721 EMPEROR BOULEVARD SUITE 130 DURHAM NC 27703 990 2024-07-01 562141179 COMMUNITY HOME TRUST COMM 9199671545 PO BOX 2315 CHAPEL HILL NC 27514 KIMBERLY SANCHEZ EXECUTIVE DIRECTOR 9199671545 2025-11-17 1 0 MICHAEL CLONCH P01380043 9194893369 2024 2025-03-06 01:10:19Z KIMBERLY SANCHEZ PO BOX 2315 CHAPEL HILL NC 27514 2060425 0 X WWW.COMMUNITYHOMETRUST.ORG X 1999 NC TO STRENGTHEN OUR COMMUNITY WITH PERMANENTLY AFFORDABLE HOUSING OPPORTUNITIES. 11 11 13 0 0 0 2593930 1194963 311045 85260 48364 76589 -54678 -47076 2898661 1309736 0 0 0 0 861323 942616 0 0 197208 434961 549129 1296284 1491745 1602377 -182009 12589421 12780846 8289887 8622334 4299534 4158512 X COMMUNITY HOME TRUST IS A NONPROFIT ORGANIZATION THAT SEEKS TO STRENGTHEN OUR COMMUNITY WITH PERMANENTLY AFFORDABLE HOUSING OPPORTUNITIES. 0 0 553082 -111766 WE COLLABORATE WITH DEVELOPERS TO HELP THEM MEET INCLUSIONARY HOUSING REQUIREMENTS IN CHAPEL HILL AND CARRBORO. WE ACQUIRE AFFORDABLE HOMES FROM DEVELOPERS AND RESELL THEM THROUGH A 99-YEAR GROUND LEASE TO INCOME-ELIGIBLE BUYERS. THIS LEASEHOLD APPROACH ENSURES THAT OUR HOMES REMAIN AFFORDABLE FOR FUTURE GENERATIONS OF LOW-INCOME HOUSEHOLDS.WE ALSO ASSIST CURRENT CHT HOMEOWNERS IN SELLING THEIR HOMES TO NEW INCOME-ELIGIBLE BUYERS.THE GROUND LEASE INCLUDES A RESALE FORMULA THAT DETERMINES HOW MUCH APPRECIATION THE SELLER CAN RECEIVE. WE WORK CLOSELY WITH BOTH SELLERS AND BUYERS TO MAINTAIN THE LONG-TERM AFFORDABILITY OF OUR HOMES.REGARDLESS OF WHETHER WE'RE SELLING EXISTING HOME TRUST HOMES OR HOMES ON BEHALF OF DEVELOPERS, OUR RESPONSIBILITIES ARE THE SAME: WE MARKET HOMES TO PROSPECTIVE BUYERS. WE PROVIDE FINANCIAL COUNSELING, HOMEBUYER EDUCATION, AND PROGRAM ORIENTATION TO EACH BUYER. WE ASSIST WITH SECURING MORTGAGE FINANCING. WE HELP IDENTIFY AVAILABLE SUBSIDY FUNDS WHEN NECESSARY.FOR THE FISCAL YEAR 2024-2025, WE SOLD 11 HOMES. OF THIS TOTAL, 6 HOMES WERE RESALES OF EXISTING HOMES, AND 5 WERE NEWLY ACQUIRED HOMES. 466511 62008 ON MARCH 1, 2024, CHT OFFICIALLY ADDED FIVE HOMES ON OPEN AIR CAMP ROAD IN DURHAM TO ITS PERMANENTLY AFFORDABLE HOUSING INVENTORY. THE RESIDENTS, MEMBERS OF THE ENO RIVER TENANTS' ASSOCIATION, HAD LONG SOUGHT TO SECURE THEIR HOMES THROUGH A LAND TRUST MODEL. SIGNIFICANT RENOVATIONS WERE COMPLETED BY THE FALL OF 2024, WHICH WERE FINANCED BY A GRANT FROM THE OAK FOUNDATION AND A LOAN FROM THE DURHAM AFFORDABLE HOUSING LOAN FUND. THE CURRENT TENANTS, SOME OF WHOM HAVE LIVED IN THESE HOMES FOR NEARLY TWO DECADES, REMAINED IN PLACE, WITH THE OPTION TO BECOME HOMEOWNERS THROUGH CHT'S LAND TRUST HOMEOWNERSHIP MODEL. ONE HOMEOWNER CONVERTED TO HOME OWNERSHIP, AND IS INCLUDED IN THE TOTAL FOR SALES OF EXISTING HOMES IN STATEMENT 1.CHT HAS PARTNERED WITH LAZARUS REPAIR AND MAINTENANCE TO UNDERTAKE THE REHABILITATION OF THE FIVE HOMES, EACH REQUIRING INDIVIDUALIZED REPAIRS, INCLUDING ROOFING, FLOORING, PLUMBING, AND MOLD REMEDIATION. WHILE THE RENOVATION PROCESS WILL TAKE SEVERAL MONTHS, MOST TENANTS ARE EXPECTED TO STAY IN THEIR HOMES DURING THIS PERIOD.AS A NONPROFIT WITH SPECIALIZED EXPERTISE IN LAND TRUST MANAGEMENT, CHT IS UNIQUELY POSITIONED TO ADDRESS COMPLEX HOUSING CHALLENGES. THE ORGANIZATION BRINGS TOGETHER REAL ESTATE PROFESSIONALS, A LICENSED HOME INSPECTOR, AND EXPERIENCE IN SECURING FUNDING FOR COMMUNITY-FOCUSED PROJECTS. THIS COMBINED EXPERTISE, ALONG WITH SUPPORT FROM FUNDING PARTNERS, ALLOWS CHT TO MAKE A MEANINGFUL IMPACT IN PRESERVING AFFORDABLE HOUSING FOR LONG-TERM TENANTS. -84017 ON DECEMBER 29, 2017, CHT ACQUIRED A 58-UNIT RENTAL DEVELOPMENT CALLED THE LANDINGS AT WINMORE. THIS ACQUISITION WAS MADE BY CHT LANDINGS, LLC, A LIMITED LIABILITY COMPANY IN WHICH THE ORGANIZATION OWNS 100% OF THE MEMBERSHIP INTEREST. THE ACQUISITION ADDED 58 RENTAL UNITS TO OUR INVENTORY INCREASING OUR ABILITY TO REACH MEMBERS OF THE COMMUNITY AT INCOMES AS LOW AS 30% AREA MEDIAN INCOME. THE SUCCESS OF THIS PROJECT SPEARHEADED TWO MORE INITIATIVES WITH A PRIVATE AFFORDABLE HOUSING DEVELOPER. IN 2023 CHT WAS AWARDED 9% LIHTC CREDITS TO BUILD 48 UNITS OF RENTAL HOUSING IN CHAPEL HILL. THIS PROJECT HAS NOT YET BEGUN AS OF 6/30/2025 BUT IS STILL PLANNED. IN 2024, CHT WAS AWARDED 9% LIHTC CREDITS TO BUILD 48 UNITS OF RENTAL UNITS FOR RESIDENTS AGE 55+ ALSO IN CHAPEL HILL. 166745 171959 ON MARCH 15, 2024, COMMUNITY HOME TRUST (CHT), INTRODUCED A NEW INITIATIVE DESIGNED TO HELP FIRST-TIME HOMEBUYERS OVERCOME BARRIERS TO MORTGAGE QUALIFICATION. THE PILOT PROGRAM, BUDGET YOUR WAY HOME, SUPPORTS APPLICANTS OF CHT'S AFFORDABLE HOUSING PROGRAM WHO ARE READY TO PURCHASE A HOME BUT FACE CHALLENGES SUCH AS INSUFFICIENT SAVINGS, LOW CREDIT SCORES, OR UNSTABLE INCOMES.THESE OBSTACLES OFTEN CONTRIBUTE TO EQUITY DISPARITIES IN HOMEOWNERSHIP, WITH BIPOC (BLACK, INDIGENOUS, AND PEOPLE OF COLOR) HOMEBUYERS DISPROPORTIONATELY IMPACTED. ACCORDING TO THE CONSUMER FINANCIAL PROTECTION BUREAU'S 2022 ANNUAL REPORT ON RESIDENTIAL MORTGAGE LENDING, BLACK AND HISPANIC BORROWERS EXPERIENCE HIGHER LOAN DENIAL RATES, RECEIVE SMALLER LOANS, AND FACE HIGHER INTEREST RATES AND UPFRONT FEES COMPARED TO WHITE AND ASIAN BORROWERS. THE NEW PROGRAM AIMS TO ADDRESS THESE DISPARITIES BY PROVIDING TARGETED SUPPORT FOR THOSE FACING DIFFICULTIES IN SECURING A MORTGAGE.THE BUDGET YOUR WAY HOME PROGRAM OFFERS A COMBINATION OF MONTHLY FINANCIAL EDUCATION AND PERSONALIZED ONE-ON-ONE COACHING FROM CHT'S HUD-CERTIFIED COUNSELORS OVER A SIX-MONTH PERIOD. PARTICIPANTS WHO SUCCESSFULLY COMPLETE THE PROGRAM WILL BE ELIGIBLE FOR MATCHING FUNDS TO ASSIST WITH CLOSING COSTS AND OTHER FINANCIAL RESPONSIBILITIES ASSOCIATED WITH PURCHASING A HOME THROUGH CHT. THE FIRST FIVE PARTICIPANTS IN THE PILOT PROGRAM WILL BE SELECTED FROM THE CURRENT POOL OF CHT APPLICANTS, WHO WILL BE INVITED TO APPLY FOR THE COACHING SESSIONS. PARTICIPATION IN THE PROGRAM IS FREE OF CHARGE.THIS INITIATIVE IS PART OF CHT'S ONGOING EFFORTS TO ENSURE THAT HOMEOWNERSHIP REMAINS ACCESSIBLE AND ATTAINABLE FOR ALL, PARTICULARLY FOR THOSE MOST AFFECTED BY SYSTEMIC INEQUITIES IN THE HOUSING MARKET. 166745 171959 1186338 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 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 1 20 0 1 13 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X THE CORPORATION 9199671545 109 CONNER DRIVE SUITE 1000 CHAPEL HILL NC 27514 JOAN ROSE BOARD MEMBER 2.00 X 0 0 0 BRUCE WARRINGTON BOARD MEMBER 0.50 X 0 0 0 ANDREW FOSTER BOARD MEMBER 0.50 X 0 0 0 BRIKA EKLUND PRESIDENT 3.00 X X 0 0 0 BRIEANNE MENDEZ-VALDIVIEZO BOARD MEMBER 0.50 X 0 0 0 MARK MOSIER TREASURER 1.00 X X 0 0 0 LINDA FAJARDO VICE PRESIDENT 2.00 X X 0 0 0 RANYAH HAHN BOARD MEMBER 0.50 X 0 0 0 BRIDGET ADAMOU BOARD MEMBER 0.50 X 0 0 0 JAMES PARROTT BOARD MEMBER 1.00 X 0 0 0 VEDA GILBERT BOARD MEMBER 0.50 X 0 0 0 KIMBERLY SANCHEZ EXECUTIVE DIRECTOR 50.00 X 106936 0 14605 106936 0 14605 1 0 0 0 0 1045326 149637 861 1194963 MASTER LEASING PROGRAM 531390 135018 135018 TRANSFER FEE INCOME 531390 62008 62008 LAND LEASE INCOME 531310 59244 59244 RESIDENTIAL PROJECT IN 531390 -171010 -171010 85260 75847 75847 619798 703815 -84017 -84017 -84017 47616 46874 742 742 742 MISCELLANEOUS INCOME 531390 36941 36941 36941 1309736 38184 0 76589 142338 85402 28468 28468 620923 498543 27768 94612 41317 33455 38 7824 82159 67670 3301 11188 55879 43412 1962 10505 8245 8245 22440 22440 1834 1834 141286 120837 6398 14051 8993 7146 1847 16240 12738 1077 2425 51572 39653 3649 8270 35635 21101 5653 8881 53485 41123 3785 8577 5072 2686 1826 560 REPAIRS 131408 131408 0 0 TRANSFER FEE EXPENSE 61191 61191 0 0 HOMEOWNER'S ASSOCIATION 9633 9633 0 0 MISCELLANEOUS 2095 2095 0 0 1491745 1186338 108199 197208 660897 401560 602400 739790 194308 162387 78758 28317 194860 171858 42163 32072 9526798 1371164 8168656 8155634 2145818 2317687 501561 771541 12589421 12780846 278306 101380 0 25596 6217278 6513709 1794303 1981649 8289887 8622334 X 3070900 3104698 1228634 1053814 4299534 4158512 12589421 12780846 -182009 40987 0 X 0 1 X 0 0 X 936685 887852 800469 1419607 1256109 5300722 936685 887852 800469 1419607 1256109 5300722 437107 4863615 1400 16603 24187 40971 75847 159008 57073 25435 24329 41134 36941 184912 5644642 3884088 0.86160 0.82310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 852862 852862 8592460 1320889 7271571 81476 50275 31201 8155634 RESTRICTED CASH 504081 DEPOSIT 5112 TENANT SECURITY DEPOSITS 18935 REAL ESTATE, DEVELOPMENT AND CONSTRUCTION COSTS 209681 OPERATING LEASE ASSET 33732 771541 STEWARDSHIP FEES 1932545 SECURITY DEPOSITS 17825 OPERATING LEASE LIABILITY 31279 1981649 X 2052704 40987 40987 2011717 1834 -703815 -701981 1309736 2193726 703815 703815 1489911 1834 1834 1491745 PART X, LINE 2: INCOME TAX STATUS THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. MANAGEMENT HAS CONSIDERED THE TAX POSITIONS TAKEN IN ITS TAX RETURNS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY THE ORGANIZATION IN ITS FEDERAL EXEMPT ORGANIZATION TAX RETURNS ARE MORE LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION. GENERALLY, THE ORGANIZATION'S TAX RETURNS REMAIN OPEN FOR THREE YEARS FOR EXAMINATION BY TAXING AUTHORITIES. THE ORGANIZATION DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT DID NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL MAINTENANCE EXPENSE PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL MAINTENANCE EXPENSE SCHEDULE D PART XI LINE 4B AND XII LINE 2D RENTAL MAINTENANCE EXPENSE FORM 990, PART VI, SECTION A, LINE 6 THERE ARE THREE CATEGORIES OF MEMBERS IN THE ORGANIZATION: 1) LESSEE MEMBERS-PEOPLE WHO OWN IMPROVEMENTS OR THE LEASEHOLD RIGHTS TO IMPROVEMENTS LOCATED ON LAND OWNED BY THE ORGANIZATION. 2) GENERAL MEMBERS-ALL OTHER PERSONS, EIGHTEEN YEARS OR OLDER WHO COMPLY WITH CERTAIN REQUIREMENTS, AND 3) FRIENDS OF THE ORGANIZATION-ANY PERSON WHO HAS PAID THE ANNUAL DUES BUT IS NOT A GENERAL MEMBER. FORM 990, PART VI, SECTION A, LINE 7A AS PER THE BY-LAWS, LESSEE AND GENERAL MEMBERS HAVE THE RIGHT TO NOMINATE AND PARTICIPATE IN THE ELECTION OF THE BOARD OF DIRECTORS AND REMOVE A MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B AS PER THE BY-LAWS, LESSEE AND GENERAL MEMBERS HAVE THE RIGHT TO NOMINATE AND PARTICIPATE IN THE ELECTION OF THE BOARD OF DIRECTORS AND REMOVE A MEMBER OF THE BOARD OF DIRECTORS. ADDITIONALLY, THE DISSOLUTION OF THE HOME TRUST REQUIRES AN AFFIRMATIVE VOTE BY TWO-THIRDS OF LESSEE AND GENERAL MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE TAX RETURN IS E-MAILED TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE BOD ANNUALLY OR WHEN A NEW MEMBER IS APPOINTED, READ AND SIGN THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOD REVIEWS AND APPROVES THE EXECUTIVE DIRECTOR AND OTHER EMPLOYEE'S COMPENSATION, WHICH IS EVIDENCED IN THE MINUTES TO THE BOARD MEETINGS. 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 BY REQUEST. CHT LANDINGS PO BOX 2315 CHAPEL HILL NC 27515 823092534 APARTMENT RENTAL NC 573228 6474887 COMMUNITY HOME TRUST