Franklin Street Community Housing Cooperative

“Expenses office expense 12,569 1,017 repairs and maintenance 144 other expenses 9,959 property taxes 59 non-investment depreciation 83 total 23,831”

“Grants receivable 37,536 48,055 prepaid expenses and deferred charges 619 620 18,589 18,589 less accumulated depreciation 18,382 18,465 total 38,362 48,799”

“Accounts payable and accrued expenses 0 4,116 repayable grant - lisc 13,000 0 payroll liabilities 11,656 11,646”

“Franklin street community housing corporation is a neighborhood-based nonprofit that is committed to preserving and revitalizing neighborhoods in the city of lansing, michigan. Franklin street implements housing and counseling programs that serve working families and individuals. It is franklin street's mission to improve neighborhoods, to provide safe, decent and affordable housing, and to offer lansing residents the opportunity to own a home and realize greater financial independence.”

“Acquisition/development/resale - rehabilitation of single family homes to sell to low to moderate income families with household incomes at or less than 80% of the area median income. This work is done as possible. The work we do may be financed privately or with grants available from the city of lansing and the michigan state housing development authority with franklin street community housing corporation (fschc) as the developer and construction manager. No acquisitions were made in 2013. Our intention is to provide this service again in the near future, if funding is secured.”

“Counseling programs - fschc counseling services are targeted for low to moderate income households. The services provided include credit and debt counseling, personal financial management training, homebuyer education, foreclosure counseling, individual assessment counseling and case management to help in the procurement of housing and in developing self sufficiency with budgeting assistance, savings plans and finding ways to reduce debt. We also provide special programs geared to specific subjects including medical debt, mortgage scams, and using social media to get a job. In addition, we provide special programs for client savings and asset acquisitions. Clients are not charged for fschc services. These services are provided at no cost to the participant. Funding comes from grants, donations and service contracts. We saw 401 clients in our office and we answered over 2,020 telephone calls in 2013.”