2025-04-07T15:38:19Z 2024-12-31 990 2024-01-01 933348243 FULCRUM COMMUNITIES FULC 3035140514 31385 BURN LN EVERGREEN CO 804399401 Scott Davis President 3035140514 2025-04-07 2024 2025-03-06 01:10:19Z X Scott Davis 31385 Burn Ln Evergreen CO 80439 513171 false X https://www.fulcrumcommunities.org X 2023 CO Acquiring and managing affordable rental home for working middle-income households in Colorado 4 4 0 6 0 0 513000 513000 0 171 171 0 513171 513171 0 0 0 0 0 177999 177999 177999 177999 335172 335172 2000 337172 0 0 2000 337172 X Acquiring and managing affordable housing for working middle-income households in Colorado true false 1001 70699 In 2024, this program produced a conceptual framework acceptable to CHFA for the Regulatory Agreement that will govern how Fulcrum operates such that the State of Colorado ensures that Fulcrum lessens the burdens of government pertaining to the states stated objective to make housing more affordable for middle-income households. 1002 107300 In 2024, this program negotiated a prototype sourcing agreement with Century Communities, resulting in the execution of a purchase contract for homes in Parker, CO to be completed and delivered in 1Q2025. 177999 true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false false false false false false false false false false X 4 4 true false false false false false false true true false true true false false false false false CO X Scott Davis 3035140514 31385 Burn Ln Evergreen CO 80439 Shanna Nichols Director of the Board 1.00 X 0 0 0 Mark Schumacher Director of the Board 1.00 X 0 0 0 Stephen McCullough Director of the Board 1.00 X 0 0 0 Scott Davis President, Chairman of the Board 10.00 X X 0 0 0 0 0 0 0 false false false Century Communities 8390 East Crescent Parkway Suite 650 Greenwood Village CO 80111 Construction Services 106555 1 513000 513000 171 171 513171 171 0 0 X 70699 70699 107300 107300 177999 177999 0 0 2000 25098 312074 2000 337172 0 0 X 2000 337172 2000 337172 2000 337172 335172 X false false false X 0 0 0 0 2000 513000 515000 0 0 0 2000 513000 515000 515000 0 171 171 515171 515171 X 0.00000 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Part III, Line 2 The Following are New Programs as of 2024 that did not have activity in 2023. CODE: 1001 - STATEREG. This ongoing effort is focused on developing and maintaining an effective regulatory relationship with the State of Colorado. The primary agency of the state through which this relationship is managed is the Colorado Housing Finance Authority (CHFA). The objective outcomes of this program are principally (a) the Regulatory Agreement governing how Fulcrum must operate, including the types of households to be served, the rents to be charged, and the state compliance reporting required by CHFA and (b) the approval by CHFA of the issuance of tax-exempt bonds to finance Fulcrums acquisitions of affordable housing units. CODE: 1002 - PORTMGT. This ongoing effort is focused on creating reliable sourcing relationships with Colorado builders, identifying housing products that meet the needs of the households Fulcrum is chartered to serve, managing the mix of properties in Fulcrums portfolio to best match the needs of the community, and contracting for acquiring new properties on good terms. The objective outcomes of this program are the growth of units in Fulcrums portfolio, the compliance of that portfolio with the mix requirements set forth in the Regulatory Agreement with CHFA, and a high level of occupancy indicating a good match between the portfolio and the needs of the community. Part IX, Line 11g PART IX, Line 11g $106,505 Property Acquisition Fees paid to Century Communities (builder) $ 795 Banking Fees and Design Consulting Fees $107,300 Total Line 11g Part VI, Line 11b PART VI, SECTION B, Line 11b: Describe the process the organization used to review this form 990 The form and all addenda were circulated to all members of the board of directors, and the materials were subsequently discussed and approved in a board meeting. Part VI, Line 19 PART VI, SECTION C, Line 19 The organization provided copies of its governance documents to the State of Colorado as part of a tax-exempt bond issuance process. Those documents are subject to public disclosure through the public hearing process pertaining to the bond issuance. Part VI, Line 1a No differences in voting rights or oversight responsibilities between directors of the board Part VI, Line 2 PART VI, SECTION A, Line 2 Scott Davis and Shanna Nichols are both directors on the organizations board, and they are siblings. Part VI, Line 9 PART VI, SECTION A, Line 9 The directors of the organization can be reached at the following addresses. Scott Davis, 31385 Burn Ln, Evergreen, CO 80439 Stephen McCullough, 1792 Scarlet Oak Trail, Oshkosh, WI 54904 Shanna Nichols,16007 Sorrento Dr, Woodway, TX 76712 Mark Schumacher, 7946 S Eudora Cir, Centennial, CO 80122