Liabilities / Assets
90th percentile
Higher debt load relative to assets than 90% of similar nonprofits.
Nevada Affordable Housing Assistance Corporation
990 • Fiscal year 2015 • EIN 30-0154421
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.92x
Liabilities / Revenue
87th percentile
Higher debt load relative to revenue than 87% of similar nonprofits.
Net Margin
33rd percentile
Higher net margin than 33% of similar nonprofits.
Top Officer Pay
18th percentile
Higher top officer pay than 18% of similar nonprofits.
Top officer pay equals 1.4% of source-year revenue.
Asset Growth
2nd percentile
Faster asset growth than 2% of similar nonprofits.
Revenue Growth
4th percentile
Faster revenue growth than 4% of similar nonprofits.
Balance Sheet
Assets
Down$12,136,244
Down $5,926,834 (-33%) from 2014
Net Assets
Down$944,217
Down $16,874,271 (-95%) from 2014
Liabilities
Up$11,192,027
Up $10,947,437 (+4476%) from 2014
Revenue And Expenses
Revenue
Down$5,979,214
Down $7,637,426 (-56%) from 2014
Expenses
Down$5,991,321
Down $10,692,882 (-64%) from 2014
Net Income
Up-$12,107
Up $3,055,456 (+100%) from 2014
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2014 to Jun 30, 2015
- Signed
- Nov 11, 2015
- Return Version
- 2014v6.0
- Gross Receipts
- $5,984,237
Mission and Program Overview
Mission
The mission of nahac is to provide funds, subsidies, and/or benefits to nevada homeowners or other targeted groups of individuals within the state of nevada in order to assist with affordable or subsidized single or multi-family housing. At a minimum, this will encompass consistently determining what the specific needs of nevada homeowners are, and any other applicable needs of the individual communities therein. Liaisons with public and private partners, as applicable, will be consistently sought to achieve this overarching objective. The nahac qualified and trained team of professionals will provide this service in an efficient and effective manner, making the needs of eligible nevada homeowners its top daily priority.
With one of the highest foreclosure rates in the nation, nevada was selected to be one of the first states to receive assistance through the u.s. Treasurys "hardest hit fund." nevada secured over 150 million to help qualified nevada homeowners.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $103,178 | $10,642,905 | ▲ $10,539,727 |
| Cash and Non-Interest-Bearing Accounts | $16,561,632 | $540,728 | ▼ $16,020,904 |
| Land, Buildings, and Equipment, Net | $18,397 | $111,776 | ▲ $93,379 |
| Prepaid Expenses and Deferred Charges | $29,807 | $60,000 | ▲ $30,193 |
| Accounts Receivable | $1,342,069 | $30,386 | ▼ $1,311,683 |
| Other Notes and Loans Receivable, Net | $1,000 | - | - |
| Total Assets | $18,063,078 | $12,136,244 | ▼ $5,926,834 |
| Other Assets Total | $6,995 | $750,449 | ▲ $743,454 |
| Liabilities | |||
| Other Liabilities | $16,862,167 | $11,036,862 | ▼ $5,825,305 |
| Accounts Payable and Accrued Expenses | $244,587 | $155,165 | ▼ $89,422 |
| Total Liabilities | $17,106,754 | $11,192,027 | ▼ $5,914,727 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $956,324 | $944,217 | ▼ $12,107 |
| Total Net Assets Fund Balance | $956,324 | $944,217 | ▼ $12,107 |
| Total Liabilities and Net Assets / Fund Balance | $18,063,078 | $12,136,244 | ▼ $5,926,834 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $111,776 | $305,770 | $417,546 |
| Other Assets Org | $11,137 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Amber Lopez-lasater | CEO (former) | FT | $82,096 | - | $82,096 |
| Nedra Wilson | Controller ( | FT | $54,769 | $2,245 | $57,014 |
| Min-young Chon | CFO | FT | $4,308 | $2,810 | $7,118 |
| Michael Hanley | CEO | FT | $2,769 | $376 | $3,145 |
Board Members and Trustees
| Name | Title |
|---|---|
| Kolleen Kelley | Chairman |
| Aj Banford | Director |
| Dennis Williams | Director |
| Hilary Lopez Phd | Director |
| Mohammad Nemati | Director |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Robinson Belaustegui Sharp Low | Legal Services | 71 WASHINGTON STREET, Reno, NV 89503 | $173,803 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,411,570
- Program Service Revenue
- $568,307
- Investment Income
- $-2,198
- Other Revenue
- $1,535
- Change in Net Assets
- $-12,107
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $5,979,214
- Revenue Not Reported on Form 990
- $2,348
- Total Revenue per Audited Statements
- $5,981,562
- Total Revenue per Form 990
- $5,979,214
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $3,375,774 |
| Salaries, Compensation, and Employee Benefits | $1,477,949 |
| Other Expenses | $1,137,598 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Individuals | $3,375,774 | - | - | $3,375,774 |
| Other Salaries and Wages | - | $1,058,011 | - | $1,058,011 |
| Information Technology | - | $297,729 | - | $297,729 |
| Fees for Services Legal | - | $242,900 | - | $242,900 |
| Current Officers, Directors, Trustees, and Key Employees | - | $182,693 | - | $182,693 |
| Other Employee Benefits | - | $120,712 | - | $120,712 |
| Payroll Taxes | - | $116,533 | - | $116,533 |
| Fees for Services Accounting | - | $106,023 | - | $106,023 |
| Insurance | - | $42,624 | - | $42,624 |
| Travel | - | $35,675 | - | $35,675 |
| Fees for Services Other | - | $35,031 | - | $35,031 |
| Depreciation Depletion | - | $30,666 | - | $30,666 |
| Office Expenses | - | $29,507 | - | $29,507 |
| Advertising | - | $16,909 | - | $16,909 |
| Other Expenses | - | $16,554 | - | $16,554 |
| Conferences and Meetings | - | $331 | - | $331 |
| All Other Expenses | - | $129 | - | $129 |
| Total Functional Expenses | $3,375,774 | $2,615,547 | $0 | $5,991,321 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $5,993,669 |
| Expenses per Audited Statements | $5,991,321 |
| Total Expenses per Form 990 | $5,991,321 |
| Expenses Not Reported on Form 990 | $2,348 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Refundable Advance | $11,007,358 |
| Client Deposits | $29,504 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- Yes
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- 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, Page 6, Part VI, Line 4
“Formerly, nahac was an organization operated excusively for the benefit of, to perform the functions of, or carry out the purpose of state of nevada division of housing. As of january 21, 2015, nahac became an organization that normally receives a substantial part of its support from a governmental unit or from the general public as described in section 170(b)(1)(a)(vi).”
Form 990, Page 6, Part VI, Line 11B
“A draft of the form 990 is presented to the governing board for approval prior to filing.”
Form 990, Page 6, Part VI, Line 12C
“The board of directors reviews the conflict of interest policy and makes updates as determined necessary.”
Form 990, Page 6, Part VI, Line 15A
“The ceo's compensation is reviewed and approved by the governing board.”
Form 990, Page 6, Part VI, Line 19
“UPON REQUEST”
Filing and Contact Details
Filer
- Filer Name
- Nevada Affordable Housing
- EIN
- 30-0154421
- Phone
- 7026756638
- Address
- 3016 W CHARLESTON BLVD 160, LAS VEGAS, NV 89102
Signing Officer
- Name
- Michael Hanley
- Title
- CEO
- Phone
- 7026756638
- Signed
- 2015-11-11
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Michael Hanley
- Formed
- 2003
- Legal Domicile
- Nv
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 44
Preparer
- Firm
- Houldsworth Russo & Company Pc
- Address
- 8675 S EASTERN AVE STE A, LAS VEGAS, NV 89123-2839
- Preparer
- Katie Hampton
- Phone
- 7022699992
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S MISSION
“With one of the highest foreclosure rates in the nation, nevada was selected to be one of the first states to receive assistance through the u.s. Treasurys "hardest hit fund." nevada secured over 150 million to help qualified nevada homeowners.”
Form 990, Page 2, Part III, Line 4A
“Loan and allow for a more affordable monthly payment. Second mortgage reduction for borrowers with an eligible financial hardship who have a second mortgage lien and, when combined with their primary mortgage, owe more than their home is worth. Financial assistance to reduce or eliminate the principal balance of a second mortgage to achieve an affordable monthly mortgage payment. Mortgage assistance for borrowers who were unemployed and are now employed or underemployed and whose primary mortgage is delinquent. Reinstatement assistance to bring the borrower's primary mortgage current.”
Form 990, Page 2, Part III, Line 4D
“The u.s. Treasury approved the nonprofit nevada affordable housing assistance corporation (nahac) to oversee the nevada hardest hit fund, which provides assistance to nevada homeowners who are at high risk of default or foreclosure. Programs offered to eligible homeowners include: principal reduction for borrowers who have suffered an eligible financial hardship and owe more than their home is worth. Financial assistance to help pay down the principal balance of a mortgage loan and allow for a more affordable monthly payment. Second mortgage reduction for borrowers with an eligible financial hardship who have a second mortgage lien and, when combined with their primary mortgage, owe more than their home is worth. Financial assistance to reduce or eliminate the principal balance of a second mortgage to achieve an affordable monthly mortgage payment. Mortgage assistance for borrowers who were unemployed and are now employed or underemployed and whose primary mortgage is delinquent. Reinstatement assistance to bring the borrower's primary mortgage current.”
Form 990, Part XI, Line 9
“Loss on disposal 2,348 loss on disposal -2,348”
Financial Statement Notes
Schedule D, Page 4, Part XI, Line 2D
“LOSS ON DISPOSAL 2,348”
Schedule D, Page 4, Part XII, Line 2D
“LOSS ON DISPOSAL 2,348”
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| IRS990/Desc | 0 | THE U.S. TREASURY APPROVED THE NONPROFIT NEVADA AFFORDABLE HOUSING ASSISTANCE CORPORATION (NAHAC) TO OVERSEE THE NEVADA HARDEST HIT FUND, WHICH PROVIDES ASSISTANCE TO NEVADA HOMEOWNERS WHO ARE AT HIGH RISK OF DEFAULT OR FORECLOSURE. PROGRAMS OFFERED TO ELIGIBLE HOMEOWNERS INCLUDE: PRINCIPAL REDUCTION FOR BORROWERS WHO HAVE SUFFERED AN ELIGIBLE FINANCIAL HARDSHIP AND OWE MORE THAN THEIR HOME IS WORTH. FINANCIAL ASSISTANCE TO HELP PAY DOWN THE PRINCIPAL BALANCE OF A MORTGAGE LOAN AND ALLOW FOR A MORE AFFORDABLE MONTHLY PAYMENT. SECOND MORTGAGE REDUCTION FOR BORROWERS WITH AN ELIGIBLE FINANCIAL HARDSHIP WHO HAVE A SECOND MORTGAGE LIEN AND, WHEN COMBINED WITH THEIR PRIMARY MORTGAGE, OWE MORE THAN THEIR HOME IS WORTH. FINANCIAL ASSISTANCE TO REDUCE OR ELIMINATE THE PRINCIPAL BALANCE OF A SECOND MORTGAGE TO ACHIEVE AN AFFORDABLE MONTHLY MORTGAGE PAYMENT. MORTGAGE ASSISTANCE FOR BORROWERS WHO WERE UNEMPLOYED AND ARE NOW EMPLOYED OR UNDEREMPLOYED AND WHOSE PRIMARY MORTGAGE IS DELINQUENT. REINSTATEMENT ASSISTANCE TO BRING THE BORROWER'S PRIMARY MORTGAGE CURRENT. |
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| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IndependentAuditFinclStmtInd | 0 | true |
| IRS990/IndependentVotingMemberCnt | 0 | 5 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 297729 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 297729 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 42624 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 42624 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 150 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 150 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/IRPDocumentCnt | 0 | 15 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 305770 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 18397 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 111776 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 417546 |
| IRS990/LegalDomicileStateCd | 0 | NV |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 5023 |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | WITH ONE OF THE HIGHEST FORECLOSURE RATES IN THE NATION, NEVADA WAS SELECTED TO BE ONE OF THE FIRST STATES TO RECEIVE ASSISTANCE THROUGH THE U.S. TREASURYS "HARDEST HIT FUND." NEVADA SECURED OVER 150 MILLION TO HELP QUALIFIED NEVADA HOMEOWNERS. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 956324 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 944217 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -2348 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -2348 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 29507 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 29507 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 6995 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 750449 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 120712 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 120712 |
| IRS990/OtherExpensesGrp/Desc | 0 | SMALL EQUIPMENT RENTAL |
| IRS990/OtherExpensesGrp/Desc | 1 | BAD DEBT EXPENSE |
| IRS990/OtherExpensesGrp/Desc | 2 | BANK FEES |
| IRS990/OtherExpensesGrp/Desc | 3 | CLIENT COUNSELING FEES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 175477 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 86907 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 21136 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 16554 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 175477 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 86907 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 21136 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 16554 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 16862167 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 11036862 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER INCOME |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 1535 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 1535 |
| IRS990/OtherRevenueTotalAmt | 0 | 1535 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 1058011 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 1058011 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 1000 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 116533 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 116533 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 29807 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 60000 |
| IRS990/PrincipalOfficerNm | 0 | MICHAEL HANLEY |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 624100 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | LIEN SATISFACTION RECOVERY |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 568307 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 568307 |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | THE U.S. TREASURY APPROVED THE NONPROFIT NEVADA AFFORDABLE HOUSING ASSISTANCE CORPORATION (NAHAC) TO OVERSEE THE NEVADA HARDEST HIT FUND, WHICH PROVIDES ASSISTANCE TO NEVADA HOMEOWNERS WHO ARE AT HIGH RISK OF DEFAULT OR FORECLOSURE. PROGRAMS OFFERED TO ELIGIBLE HOMEOWNERS INCLUDE: PRINCIPAL REDUCTION FOR BORROWERS WHO HAVE SUFFERED AN ELIGIBLE FINANCIAL HARDSHIP AND OWE MORE THAN THEIR HOME IS WORTH. FINANCIAL ASSISTANCE TO HELP PAY DOWN THE PRINCIPAL BALANCE OF A MORTGAGE LOAN AND ALLOW FOR A MORE AFFORDABLE MONTHLY PAYMENT. SECOND MORTGAGE REDUCTION FOR BORROWERS WITH AN ELIGIBLE FINANCIAL HARDSHIP WHO HAVE A SECOND MORTGAGE LIEN AND, WHEN COMBINED WITH THEIR PRIMARY MORTGAGE, OWE MORE THAN THEIR HOME IS WORTH. FINANCIAL ASSISTANCE TO REDUCE OR ELIMINATE THE PRINCIPAL BALANCE OF A SECOND MORTGAGE TO ACHIEVE AN AFFORDABLE MONTHLY MORTGAGE PAYMENT. MORTGAGE ASSISTANCE FOR BORROWERS WHO WERE UNEMPLOYED AND ARE NOW EMPLOYED OR UNDEREMPLOYED AND WHOSE PRIMARY MORTGAGE IS DELINQUENT. REINSTATEMENT ASSISTANCE TO BRING THE BORROWER'S PRIMARY MORTGAGE CURRENT. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 13207869 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 13657033 |
| IRS990/PYInvestmentIncomeAmt | 0 | 1031 |
| IRS990/PYOtherExpensesAmt | 0 | 1070090 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 407740 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -3067563 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 1957080 |
| IRS990/PYTotalExpensesAmt | 0 | 16684203 |
| IRS990/PYTotalRevenueAmt | 0 | 13616640 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -12107 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | true |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 568307 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 103178 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 10642905 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 5411570 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 16683989 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 67393151 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 10617790 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 2388740 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 102495240 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 150 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 150 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 568307 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 1.00000 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 102495240 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 5411570 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 16683989 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 67393151 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 10617790 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 2388740 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 102495240 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 102495925 |
| IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt | 0 | 535 |
| IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt | 0 | 535 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 111776 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 305770 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 417546 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 2348 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 5991321 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 739312 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 11137 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | RECEIVABLE FROM NHD |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | DEPOSITS |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 2348 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 11007358 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 29504 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | REFUNDABLE ADVANCE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | CLIENT DEPOSITS |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 2348 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 2348 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 5979214 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | LOSS ON DISPOSAL 2,348 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | LOSS ON DISPOSAL 2,348 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 4, PART XI, LINE 2D |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE D, PAGE 4, PART XII, LINE 2D |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 111776 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 750449 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 5991321 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 11036862 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 5979214 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 5981562 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 5993669 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | true |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 0 | 3375774 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | MORTGAGE ASSISTANCE |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 796 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | MORTGAGE ASSISTANCE GRANTS ARE FUNDED DIRECTLY TO ELIGIBLE HOMEOWNERS' MORTGAGE SERVICERS. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE I, PAGE 1, PART I, LINE 2 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | WITH ONE OF THE HIGHEST FORECLOSURE RATES IN THE NATION, NEVADA WAS SELECTED TO BE ONE OF THE FIRST STATES TO RECEIVE ASSISTANCE THROUGH THE U.S. TREASURYS "HARDEST HIT FUND." NEVADA SECURED OVER 150 MILLION TO HELP QUALIFIED NEVADA HOMEOWNERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | LOAN AND ALLOW FOR A MORE AFFORDABLE MONTHLY PAYMENT. SECOND MORTGAGE REDUCTION FOR BORROWERS WITH AN ELIGIBLE FINANCIAL HARDSHIP WHO HAVE A SECOND MORTGAGE LIEN AND, WHEN COMBINED WITH THEIR PRIMARY MORTGAGE, OWE MORE THAN THEIR HOME IS WORTH. FINANCIAL ASSISTANCE TO REDUCE OR ELIMINATE THE PRINCIPAL BALANCE OF A SECOND MORTGAGE TO ACHIEVE AN AFFORDABLE MONTHLY MORTGAGE PAYMENT. MORTGAGE ASSISTANCE FOR BORROWERS WHO WERE UNEMPLOYED AND ARE NOW EMPLOYED OR UNDEREMPLOYED AND WHOSE PRIMARY MORTGAGE IS DELINQUENT. REINSTATEMENT ASSISTANCE TO BRING THE BORROWER'S PRIMARY MORTGAGE CURRENT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE U.S. TREASURY APPROVED THE NONPROFIT NEVADA AFFORDABLE HOUSING ASSISTANCE CORPORATION (NAHAC) TO OVERSEE THE NEVADA HARDEST HIT FUND, WHICH PROVIDES ASSISTANCE TO NEVADA HOMEOWNERS WHO ARE AT HIGH RISK OF DEFAULT OR FORECLOSURE. PROGRAMS OFFERED TO ELIGIBLE HOMEOWNERS INCLUDE: PRINCIPAL REDUCTION FOR BORROWERS WHO HAVE SUFFERED AN ELIGIBLE FINANCIAL HARDSHIP AND OWE MORE THAN THEIR HOME IS WORTH. FINANCIAL ASSISTANCE TO HELP PAY DOWN THE PRINCIPAL BALANCE OF A MORTGAGE LOAN AND ALLOW FOR A MORE AFFORDABLE MONTHLY PAYMENT. SECOND MORTGAGE REDUCTION FOR BORROWERS WITH AN ELIGIBLE FINANCIAL HARDSHIP WHO HAVE A SECOND MORTGAGE LIEN AND, WHEN COMBINED WITH THEIR PRIMARY MORTGAGE, OWE MORE THAN THEIR HOME IS WORTH. FINANCIAL ASSISTANCE TO REDUCE OR ELIMINATE THE PRINCIPAL BALANCE OF A SECOND MORTGAGE TO ACHIEVE AN AFFORDABLE MONTHLY MORTGAGE PAYMENT. MORTGAGE ASSISTANCE FOR BORROWERS WHO WERE UNEMPLOYED AND ARE NOW EMPLOYED OR UNDEREMPLOYED AND WHOSE PRIMARY MORTGAGE IS DELINQUENT. REINSTATEMENT ASSISTANCE TO BRING THE BORROWER'S PRIMARY MORTGAGE CURRENT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | FORMERLY, NAHAC WAS AN ORGANIZATION OPERATED EXCUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR CARRY OUT THE PURPOSE OF STATE OF NEVADA DIVISION OF HOUSING. AS OF JANUARY 21, 2015, NAHAC BECAME AN ORGANIZATION THAT NORMALLY RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT FROM A GOVERNMENTAL UNIT OR FROM THE GENERAL PUBLIC AS DESCRIBED IN SECTION 170(B)(1)(A)(VI). |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | A DRAFT OF THE FORM 990 IS PRESENTED TO THE GOVERNING BOARD FOR APPROVAL PRIOR TO FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE BOARD OF DIRECTORS REVIEWS THE CONFLICT OF INTEREST POLICY AND MAKES UPDATES AS DETERMINED NECESSARY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE GOVERNING BOARD. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | UPON REQUEST |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | LOSS ON DISPOSAL 2,348 LOSS ON DISPOSAL -2,348 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 4 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PART XI, LINE 9 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TempOrPermanentEndowmentsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 18063078 |
| IRS990/TotalAssetsEOYAmt | 0 | 12136244 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 18063078 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 12136244 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 5411570 |
| IRS990/TotalEmployeeCnt | 0 | 44 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 2615547 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 3375774 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 5991321 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 17106754 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 11192027 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 17106754 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 11192027 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 956324 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 944217 |
| IRS990/TotalOtherCompensationAmt | 0 | 5431 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 3375774 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 568307 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 143942 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | -663 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 568307 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 5979214 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 18063078 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 12136244 |
| IRS990/TravelGrp/ManagementAndGeneralAmt | 0 | 35675 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2015 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $12,136,244
- Liabilities
- $11,192,027
- Net assets
- $944,217
- Revenue
- $5,979,214
- Expenses
- $5,991,321
- Net income
- -$12,107