Civic Intelligence

Midlands Housing Trust Fund

990 • Fiscal year 2019 • EIN 27-4149384

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 08, 2020

4300 North Main StreetColumbia, SC 29203

(803) 764-3976

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

66th percentile

0.22x

Higher debt load relative to assets than 66% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

91st percentile

2.04x

Higher debt load relative to revenue than 91% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

13th percentile

-21%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

39th percentile

$17,500

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 13.3% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

25th percentile

-3.3%

Faster asset growth than 25% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

8th percentile

-37%

Faster revenue growth than 8% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,232,835

Down $41,753 (-3.3%) from 2018

Net Assets

Down

$964,912

Down $27,155 (-2.7%) from 2018

Liabilities

Down

$267,923

Down $14,598 (-5.2%) from 2018

Revenue

Down

$131,369

Down $77,342 (-37%) from 2018

Expenses

Up

$158,524

Up $53,333 (+51%) from 2018

Net Income

Down

-$27,155

Down $130,675 (-126%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $108,657Net Assets 2012: $108,6572012Assets 2013: $141,375Liabilities 2013: $0Net Assets 2013: $141,3752013Assets 2014: $173,380Liabilities 2014: $2,908Net Assets 2014: $170,4722014Assets 2015: $726,425Liabilities 2015: $148,423Net Assets 2015: $578,0022015Assets 2016: $1,188,166Liabilities 2016: $353,683Net Assets 2016: $834,4832016Assets 2017: $1,239,925Liabilities 2017: $351,378Net Assets 2017: $888,5472017Assets 2018: $1,274,588Liabilities 2018: $282,521Net Assets 2018: $992,0672018Assets 2019: $1,232,835Liabilities 2019: $267,923Net Assets 2019: $964,9122019Assets 2020: $1,342,523Liabilities 2020: $249,084Net Assets 2020: $1,093,4392020Assets 2021: $2,586,096Liabilities 2021: $1,419,443Net Assets 2021: $1,166,6532021Assets 2022: $2,506,175Liabilities 2022: $799,300Net Assets 2022: $1,706,8752022Assets 2023: $2,991,708Liabilities 2023: $845,664Net Assets 2023: $2,146,0442023Assets 2024: $3,137,252Liabilities 2024: $757,373Net Assets 2024: $2,379,8792024

Highlighted filing

2019

Assets$1,232,835
Liabilities$267,923
Net Assets$964,912

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2012: $110,000Expenses 2012: $1,343Net Income 2012: $108,6572012Expenses 2013: $174,1662013Revenue 2014: $189,323Expenses 2014: $160,226Net Income 2014: $29,0972014Revenue 2015: $549,625Expenses 2015: $212,236Net Income 2015: $337,3892015Revenue 2016: $449,596Expenses 2016: $193,115Net Income 2016: $256,4812016Revenue 2017: $289,991Expenses 2017: $235,927Net Income 2017: $54,0642017Revenue 2018: $208,711Expenses 2018: $105,191Net Income 2018: $103,5202018Revenue 2019: $131,369Expenses 2019: $158,524Net Income 2019: -$27,1552019Revenue 2020: $239,851Expenses 2020: $111,324Net Income 2020: $128,5272020Revenue 2021: $174,196Expenses 2021: $100,982Net Income 2021: $73,2142021Revenue 2022: $697,145Expenses 2022: $156,923Net Income 2022: $540,2222022Revenue 2023: $621,490Expenses 2023: $182,321Net Income 2023: $439,1692023Revenue 2024: $436,132Expenses 2024: $202,297Net Income 2024: $233,8352024

Highlighted filing

2019

Revenue$131,369
Expenses$158,524
Net Income-$27,155
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 8, 2020
Return Version
2018v3.1
Gross Receipts
$131,369
Mission and Program Overview

Mission

The organization will create and preserve the stock of affordable housing in the central midlands region of south carolina through financing and technical assistance of affordable housing projects. The organization is a regional housing trust fund with the functions and duties in keeping with the requirements of the william c mescher local housing trust fund act. The organization focuses on projects serving low to moderate income households who struggle to secure housing including people who work at low wage jobs, people with disabilities and other special needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$592,073$987,987▲ $395,914
Cash and Non-Interest-Bearing Accounts$679,126$239,348▼ $439,778
Land, Buildings, and Equipment, Net$1,129$5,000▲ $3,871
Prepaid Expenses and Deferred Charges$1,760$0▼ $1,760
Total Assets$1,274,588$1,232,835▼ $41,753
Other Assets Total$500$500→ $0
Liabilities
Unsecured Notes Loans Payable$281,807$267,923▼ $13,884
Accounts Payable and Accrued Expenses$714$0▼ $714
Total Liabilities$282,521$267,923▼ $14,598
Net Assets / Fund Balance
Unrestricted Net Assets$987,342$964,912▼ $22,430
Temporarily Rstr Net Assets$4,725$0▼ $4,725
Total Net Assets Fund Balance$992,067$964,912▼ $27,155
Total Liabilities and Net Assets / Fund Balance$1,274,588$1,232,835▼ $41,753

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,000$3,221$8,221
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jeff LarimoreActing Executive DirectorPT$17,500$17,500

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$84,471
Program Service Revenue
$44,823
Investment Income
$1,899
Other Revenue
$176
All Other Contributions
$29,471
Change in Net Assets
$-27,155

Audited Revenue Reconciliation

Revenue per Audited Statements
$131,369
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$131,369
Total Revenue per Form 990
$131,369
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$158,524
Total Fundraising Expense$3,299
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$30,818$27,118$2,055$59,991
Occupancy$5,193$1,385$346$6,924
Advertising$3,710$989$247$4,946
Interest-$4,908-$4,908
Insurance$2,660$710$177$3,547
Other Expenses$1,929$516$129$2,574
All Other Expenses$691$1,303$47$2,041
Office Expenses$1,385$380$92$1,857
Depreciation Depletion-$1,129-$1,129
Fees for Services Accounting$702$187$47$936
Travel$164$44$11$219
Conferences and Meetings$60--$60
Total Functional Expenses$115,966$39,259$3,299$158,524

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$158,524
Total Expenses per Audited Statements$158,524
Total Expenses per Form 990$158,524
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Jamie Devine Is a Board Member of the FundJAMIE DEVINE IS ALSO THE CHIEF EXECUTIVE OFFICER OF A COMPANY, COMMUNITY ASSISTANCE PROVIDERS. LOANS WERE MADE FROM MIDLANDS HOUSING TRUST FUND TO COMMUNITY ASSISTANCE PROVIDER WITH AN ORIGIAL PRINCIPAL BALANCE OF $266,000 AND A REMAINING BALANCE OF 237,452. BOARD MEMBER RECUSED HIMSELF FROM ALL MEETINGS AT WHICH THESE TRANSACTIONS WERE UNDER CONSIDERATION OR BEING VOTED ON.No$266,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the current executive director, jeff larimore and provided to the board of directors prior to filing.

Form 990, Part VI, Section B, Line 12C

All directors and officers are required to review and sign the conflict of interest policy on an annual basis. The policy defines an interested person, financial interest, and duty to disclose actual or possible conflicts. Procedures for addressing a conflict of interest are defined as well as procedures for recording proceedings.

Form 990, Part VI, Section C, Line 19

Disclosure of governing documents, policies, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Midlands Housing Trust Fund
EIN
27-4149384
Phone
8037643976
Address
4300 NORTH MAIN STREET, COLUMBIA, SC 29203

Signing Officer

Name
Jeffrey Allen
Title
Chairman
Phone
8037643976
Signed
2020-06-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Allen
Formed
2010
Legal Domicile
Sc
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
10

Preparer

Firm
Elliott Davis Llcpllc
Address
1901 MAIN STREET SUITE 900, COLUMBIA, SC 29201
Preparer
Denise P Hill
Phone
8032560002
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting fees: program service expenses 30,818. Management and general expenses 8,218. Fundraising expenses 2,055. Total expenses 41,091. Professional fees: program service expenses 0. Management and general expenses 18,900. Fundraising expenses 0. Total expenses 18,900.

Form 990, Part XII, Item 2(C)

Oversight of the audit is completed by the executive director and the board's treasurer. Selection of the independent accountants is voted upon by the board of directors.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the fund and recognize a tax liability (or asset) if the fund has taken an uncertain position that more likely than not would not be substantiated upon examination by the internal revenue service. The fund is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

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IRS990/MissionDesc0THE ORGANIZATION WILL CREATE AND PRESERVE THE STOCK OF AFFORDABLE HOUSING IN THE CENTRAL MIDLANDS REGION OF SOUTH CAROLINA THROUGH FINANCING AND TECHNICAL ASSISTANCE OF AFFORDABLE HOUSING PROJECTS. THE ORGANIZATION IS A REGIONAL HOUSING TRUST FUND WITH THE FUNCTIONS AND DUTIES IN KEEPING WITH THE REQUIREMENTS OF THE WILLIAM C MESCHER LOCAL HOUSING TRUST FUND ACT. THE ORGANIZATION FOCUSES ON PROJECTS SERVING LOW TO MODERATE INCOME HOUSEHOLDS WHO STRUGGLE TO SECURE HOUSING INCLUDING PEOPLE WHO WORK AT LOW WAGE JOBS, PEOPLE WITH DISABILITIES AND OTHER SPECIAL NEEDS. ON AUGUST 15, 2016, THE UNITED STATES DEPARTMENT OF TREASURY CERTIFIED THE FUND AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI).
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IRS990/NetAssetsOrFundBalancesBOYAmt0992067
IRS990/NetAssetsOrFundBalancesEOYAmt0964912
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt025000
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt0346
IRS990/OccupancyGrp/ManagementAndGeneralAmt01385
IRS990/OccupancyGrp/ProgramServicesAmt05193
IRS990/OccupancyGrp/TotalAmt06924
IRS990/OfficeExpensesGrp/FundraisingAmt092
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0380
IRS990/OfficeExpensesGrp/ProgramServicesAmt01385
IRS990/OfficeExpensesGrp/TotalAmt01857
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0500
IRS990/OtherAssetsTotalGrp/EOYAmt0500
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc1LOAN RESERVE EXPENSE
IRS990/OtherExpensesGrp/Desc2EQUIPMENT
IRS990/OtherExpensesGrp/Desc3COMMUNICATIONS
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt2148
IRS990/OtherExpensesGrp/FundraisingAmt3129
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2590
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3516
IRS990/OtherExpensesGrp/ProgramServicesAmt045000
IRS990/OtherExpensesGrp/ProgramServicesAmt121441
IRS990/OtherExpensesGrp/ProgramServicesAmt22213
IRS990/OtherExpensesGrp/ProgramServicesAmt31929
IRS990/OtherExpensesGrp/TotalAmt045000
IRS990/OtherExpensesGrp/TotalAmt121441
IRS990/OtherExpensesGrp/TotalAmt22951
IRS990/OtherExpensesGrp/TotalAmt32574
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0176
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0176
IRS990/OtherRevenueTotalAmt0176
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0592073
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0987987
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01760
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0JEFFREY ALLEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0MORTAGE INTEREST INCOM
IRS990/ProgramServiceRevenueGrp/Desc1LOAN RESERVE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt034753
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt110070
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt034753
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt110070
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0126229
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01234
IRS990/PYOtherExpensesAmt063847
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt081248
IRS990/PYRevenuesLessExpensesAmt0103520
IRS990/PYSalariesCompEmpBnftPaidAmt041344
IRS990/PYTotalExpensesAmt0105191
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0208711
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-27155
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt044999
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt084471
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0126229
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0260210
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0441687
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0540961
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01453558
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01899
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01234
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0756
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0459
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0347
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04695
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0170863
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.85800
IRS990ScheduleA/PublicSupportPY170Pct00.87350
IRS990ScheduleA/PublicSupportTotal170Amt01251218
IRS990ScheduleA/SubstantialContributorsTotAmt0202340
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt084471
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0126229
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0260210
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0441687
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0540961
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01453558
IRS990ScheduleA/TotalSupportAmt01458253
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt05000
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03221
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08221
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0158524
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0131369
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FUND AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FUND HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUBSTANTIATED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE FUND IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05000
IRS990ScheduleD/TotalExpensesPerForm990Amt0158524
IRS990ScheduleD/TotalRevenuePerForm990Amt0131369
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0131369
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0158524
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0JAMIE DEVINE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0JAMIE DEVINE IS A BOARD MEMBER OF THE FUND
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0266000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0JAMIE DEVINE IS ALSO THE CHIEF EXECUTIVE OFFICER OF A COMPANY, COMMUNITY ASSISTANCE PROVIDERS. LOANS WERE MADE FROM MIDLANDS HOUSING TRUST FUND TO COMMUNITY ASSISTANCE PROVIDER WITH AN ORIGIAL PRINCIPAL BALANCE OF $266,000 AND A REMAINING BALANCE OF 237,452. BOARD MEMBER RECUSED HIMSELF FROM ALL MEETINGS AT WHICH THESE TRANSACTIONS WERE UNDER CONSIDERATION OR BEING VOTED ON.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE CURRENT EXECUTIVE DIRECTOR, JEFF LARIMORE AND PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DIRECTORS AND OFFICERS ARE REQUIRED TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. THE POLICY DEFINES AN INTERESTED PERSON, FINANCIAL INTEREST, AND DUTY TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS. PROCEDURES FOR ADDRESSING A CONFLICT OF INTEREST ARE DEFINED AS WELL AS PROCEDURES FOR RECORDING PROCEEDINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DISCLOSURE OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTING FEES: PROGRAM SERVICE EXPENSES 30,818. MANAGEMENT AND GENERAL EXPENSES 8,218. FUNDRAISING EXPENSES 2,055. TOTAL EXPENSES 41,091. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,900. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,900.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OVERSIGHT OF THE AUDIT IS COMPLETED BY THE EXECUTIVE DIRECTOR AND THE BOARD'S TREASURER. SELECTION OF THE INDEPENDENT ACCOUNTANTS IS VOTED UPON BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, ITEM 2(C)
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt04725
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01274588
IRS990/TotalAssetsEOYAmt01232835
IRS990/TotalAssetsGrp/BOYAmt01274588
IRS990/TotalAssetsGrp/EOYAmt01232835
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt084471
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03299
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt039259
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0115966
IRS990/TotalFunctionalExpensesGrp/TotalAmt0158524
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0282521
IRS990/TotalLiabilitiesEOYAmt0267923
IRS990/TotalLiabilitiesGrp/BOYAmt0282521
IRS990/TotalLiabilitiesGrp/EOYAmt0267923
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0992067
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0964912

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