Civic Intelligence

Homeownership Preservation Foundation

990 • Fiscal year 2013 • EIN 52-2403507

Jan 01, 2013 to Dec 31, 2013 • Filed on Sep 24, 2014

7645 Lyndale Avenue South No 25055423

(612) 230-4020

Siviq Scores

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

Liabilities / Assets

46th percentile

0.26x

Higher debt load relative to assets than 46% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Liabilities / Revenue

30th percentile

0.15x

Higher debt load relative to revenue than 30% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Net Margin

43rd percentile

2.2%

Higher net margin than 43% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Top Officer Pay

77th percentile

$429,342

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Asset Growth

12th percentile

-5.5%

Faster asset growth than 12% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2012 to 2013

Revenue Growth

19th percentile

-8.1%

Faster revenue growth than 19% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2012 to 2013

Assets

Down

$24,742,558

Down $1,447,566 (-5.5%) from 2012

Net Assets

Up

$18,351,960

Up $1,538,448 (+9.2%) from 2012

Liabilities

Down

$6,390,598

Down $2,986,014 (-32%) from 2012

Revenue

Down

$42,269,517

Down $3,704,086 (-8.1%) from 2012

Expenses

Down

$41,327,378

Down $5,846,438 (-12%) from 2012

Net Income

Up

$942,139

Up $2,142,352 (+178%) from 2012

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2012: $26,190,124Liabilities 2012: $9,376,612Net Assets 2012: $16,813,5122012Assets 2013: $24,742,558Liabilities 2013: $6,390,598Net Assets 2013: $18,351,9602013Assets 2014: $24,565,263Liabilities 2014: $7,303,571Net Assets 2014: $17,261,6922014Assets 2015: $22,781,539Liabilities 2015: $7,241,854Net Assets 2015: $15,539,6852015Assets 2016: $18,562,354Liabilities 2016: $5,641,894Net Assets 2016: $12,920,4602016Assets 2017: $12,273,720Liabilities 2017: $3,272,221Net Assets 2017: $9,001,4992017Assets 2018: $6,575,515Liabilities 2018: $1,457,227Net Assets 2018: $5,118,2882018Assets 2019: $8,036,330Liabilities 2019: $1,840,407Net Assets 2019: $6,195,9232019Assets 2020: $9,160,530Liabilities 2020: $1,320,047Net Assets 2020: $7,840,4832020Assets 2021: $9,859,367Liabilities 2021: $1,552,329Net Assets 2021: $8,307,0382021Assets 2022: $10,911,422Liabilities 2022: $3,136,624Net Assets 2022: $7,774,7982022Assets 2023: $11,041,312Liabilities 2023: $2,117,216Net Assets 2023: $8,924,0962023Assets 2024: $12,080,154Liabilities 2024: $3,229,956Net Assets 2024: $8,850,1982024

Highlighted filing

2013

Assets$24,742,558
Liabilities$6,390,598
Net Assets$18,351,960

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2012: $45,973,603Expenses 2012: $47,173,816Net Income 2012: -$1,200,2132012Revenue 2013: $42,269,517Expenses 2013: $41,327,378Net Income 2013: $942,1392013Revenue 2014: $34,272,432Expenses 2014: $35,079,286Net Income 2014: -$806,8542014Revenue 2015: $33,556,752Expenses 2015: $33,571,840Net Income 2015: -$15,0882015Revenue 2016: $25,869,888Expenses 2016: $29,176,617Net Income 2016: -$3,306,7292016Revenue 2017: $16,367,358Expenses 2017: $20,253,790Net Income 2017: -$3,886,4322017Revenue 2018: $7,194,035Expenses 2018: $10,711,906Net Income 2018: -$3,517,8712018Revenue 2019: $7,152,479Expenses 2019: $6,666,689Net Income 2019: $485,7902019Revenue 2020: $8,962,581Expenses 2020: $8,067,445Net Income 2020: $895,1362020Revenue 2021: $7,508,104Expenses 2021: $6,714,487Net Income 2021: $793,6172021Revenue 2022: $10,640,592Expenses 2022: $10,256,218Net Income 2022: $384,3742022Revenue 2023: $14,063,939Expenses 2023: $13,663,982Net Income 2023: $399,9572023Revenue 2024: $11,246,874Expenses 2024: $11,507,338Net Income 2024: -$260,4642024

Highlighted filing

2013

Revenue$42,269,517
Expenses$41,327,378
Net Income$942,139
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Sep 24, 2014
Return Version
2013v3.0
Gross Receipts
$47,564,327
Mission and Program Overview

Mission

Provides education and counseling to financially distressed homeowners to preserve and promote homeownership.

To educate and counsel the financially distressed to preserve and promote homeownership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,263,244$12,446,862▲ $2,183,618
Savings and Temporary Cash Investments$7,001,702$5,736,300▼ $1,265,402
Accounts Receivable$7,401,633$5,413,349▼ $1,988,284
Pledges and Grants Receivable$839,066$567,470▼ $271,596
Land, Buildings, and Equipment, Net$538,515$531,460▼ $7,055
Prepaid Expenses and Deferred Charges$120,963$27,574▼ $93,389
Total Assets$26,190,124$24,742,558▼ $1,447,566
Other Assets Total$25,001$19,543▼ $5,458
Liabilities
Accounts Payable and Accrued Expenses$9,101,286$6,141,756▼ $2,959,530
Deferred Revenue$275,326$248,842▼ $26,484
Total Liabilities$9,376,612$6,390,598▼ $2,986,014
Net Assets / Fund Balance
Unrestricted Net Assets$16,796,262$18,351,960▲ $1,555,698
Temporarily Rstr Net Assets$17,250$0▼ $17,250
Total Net Assets Fund Balance$16,813,512$18,351,960▲ $1,538,448
Total Liabilities and Net Assets / Fund Balance$26,190,124$24,742,558▼ $1,447,566

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$503,878$1,395,506$1,899,384
Leasehold Improvements$27,582$68,917$96,499
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Collen HernandezPresident/chief Executive OfficerFT$346,883$82,844$429,727
Julie SteinhagenChief Operating Officer/secretaryFT$173,490$79,205$252,695
Gene SpencerSenior Vice PresidentFT$175,000$50,386$225,386
Josh FurhmanSenior Vice PresidentFT$143,106$54,564$197,670
Ann RoessSenior Vice PresidentFT$144,573$36,766$181,339
Jennifer FraserVice PresidentFT$140,365$36,813$177,178
Mike SwansonVice PresidentFT$147,021$19,459$166,480
David Flavin Thru NovemberChief Financial Officer/treasurerFT$161,144$5,003$166,147
Bill Acheson Thru FebruaryTreasurerFT$105,831$9,070$114,901
Ken Duncan From DecemberChief Financial Officer/treasurerFT$22,875-$22,875

Board Members and Trustees

NameTitle
Sanjeev HandaChairperson
Barrett BurnsBoard Member
Bruce GottschallBoard Member
Bruce ParadisBoard Member
Chris HerbertBoard Member
Janneka Ratcliff From NovemberBoard Member
Jeff Rohr From MayBoard Member
Jill Kanin-loversBoard Member
Joe DonovanBoard Member
Mike SeatsBoard Member
Prue LaroccaBoard Member
Sharon Sayles BeltonBoard Member
Tom Jacob Thru MayBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
MmiCounseling Services-$10,066,267
NovadebtCounseling Services-$6,793,695
GreenpathCounseling Services-$5,121,474
Sykes Enterprises INCCall Center-$3,824,179
SpringboardCounseling Services-$3,522,214
Revenue and Support

Revenue Composition

Contributions and Grants
$16,386,912
Program Service Revenue
$25,324,465
Investment Income
$558,140
Other Revenue
$0
All Other Contributions
$9,892,803
Change in Net Assets
$942,139

Audited Revenue Reconciliation

Revenue per Audited Statements
$42,269,517
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$596,309
Total Revenue per Audited Statements
$42,865,826
Total Revenue per Form 990
$42,269,517
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$37,218,858
Salaries, Compensation, and Employee Benefits$4,108,520
Total Fundraising Expense$105,763
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,950,291$610,113$85,336$2,645,740
All Other Expenses$2,121,605--$2,121,605
Other Expenses$2,109,750--$2,109,750
Current Officers, Directors, Trustees, and Key Employees$184,165$801,149-$985,314
Office Expenses$653,989$113,702-$767,691
Fees for Services Other$348,164$401,540$1,722$751,426
Advertising-$330,583-$330,583
Travel$188,864$104,627-$293,491
Fees for Services Legal$24,703$259,903-$284,606
Depreciation Depletion$200,144$75,912-$276,056
Occupancy$148,758$98,056$5,997$252,811
Payroll Taxes$147,327$95,674$5,941$248,942
Other Employee Benefits$115,070$56,760$5,253$177,083
Conferences and Meetings$36,124$110,588-$146,712
Information Technology-$133,640-$133,640
Fees for Services Accounting-$110,838-$110,838
Insurance-$79,455-$79,455
Pension Plan Contributions$34,625$15,302$1,514$51,441
Interest-$53-$53
Total Functional Expenses$37,823,720$3,397,895$105,763$41,327,378

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$41,327,378
Total Expenses per Audited Statements$41,327,378
Total Expenses per Form 990$41,327,378
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
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
Yes
Other officer compensation reviewed
Yes
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 A, Line 8B

The organization has no committees with authority to act on behalf of the board.

Form 990, Part VI, Section B, Line 11

The draft form 990 is reviewed by the cfo and controller with the audit committee. Upon their review, the draft form 990 is distributed to the full board for review prior to filing with the irs.

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

The policy covers all board members, officers, employees and contractors of the foundation. All are required to complete an annual conflict of interest policy acknowledgement and disclosure form. All conflicts are reviewed by the board and an appropriate remedy determined, which may include recusal from decision making.

Form 990, Part VI, Section B, Line 15

The president/ceo's compensation is approved by the board. The compensation committee uses the hayes group and towers watson in determining the compensation amount that is recommended to the board for approval. This process was last done in 2013. Compensation for the chief financial officer and chief operations officer are approved by the board. The compensation committee uses the hayes group and towers watson in determining the compensation amounts that are recommended to the board for approval. This process was last done in 2013.

Form 990, Part VI, Section C, Line 19

Hpf complies with the public inspection requirements of internal revenue code section 6104 by making its form 1023, application for recognition of exemption under section 501(c)(3) of the internal revenue code, determination letter from the irs, and the forms 990 and 990-pf for its three most recently completed tax periods available to the public. However, as section 6104 does not require organizations exempt under section 501(c)(3) to disclose its governing documents, conflict of interest policies, or financial statements, hpf has decided not to make such information available for public inspection.

Filing and Contact Details

Filer

EIN
52-2403507
Phone
6122304020

Signing Officer

Name
Ken Duncan
Title
Chief Financial Officer
Phone
6122304059
Signed
2014-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Colleen Hernandez
Formed
2003
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
34
Volunteers
0

Preparer

Preparer
Kim Hunwardsen CPA
Phone
6122536500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The foundation is organized as a minnesota nonprofit corporation and has been recognized by the internal revenue service (irs) as exempt from federal income taxes under section 501(a) of the internal revenue code as an organization described in section 501(c)(3), qualifies for the charitable contribution deduction under section 170(b)(1)(a)(vi), and has been determined to be a public charity under section 509(a)(1). The foundation is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the foundation is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The foundation has determined it is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs. The foundation believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.

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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt20SENIOR VICE PRESIDENT
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