Civic Intelligence

Homeownership Preservation Foundation

990 • Fiscal year 2017 • EIN 52-2403507

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 05, 2018

7645 Lyndale Avenue South No 250Minneapolis, MN 55423

(612) 230-4020

Siviq Scores

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

Liabilities / Assets

51st percentile

0.27x

Higher debt load relative to assets than 51% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

39th percentile

0.20x

Higher debt load relative to revenue than 39% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

8th percentile

-24%

Higher net margin than 8% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

76th percentile

$397,508

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

1st percentile

-34%

Faster asset growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

6th percentile

-37%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Down

$12,273,720

Down $6,288,634 (-34%) from 2016

Net Assets

Down

$9,001,499

Down $3,918,961 (-30%) from 2016

Liabilities

Down

$3,272,221

Down $2,369,673 (-42%) from 2016

Revenue

Down

$16,367,358

Down $9,502,530 (-37%) from 2016

Expenses

Down

$20,253,790

Down $8,922,827 (-31%) from 2016

Net Income

Down

-$3,886,432

Down $579,703 (-18%) from 2016

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

2017

Assets$12,273,720
Liabilities$3,272,221
Net Assets$9,001,499

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

2017

Revenue$16,367,358
Expenses$20,253,790
Net Income-$3,886,432
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 5, 2018
Return Version
2017v2.3
Gross Receipts
$26,764,171
Mission and Program Overview

Mission

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

To promote, educate, and counsel the financially distressed on how to sustain homeownership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,272,711$6,694,992▼ $2,577,719
Accounts Receivable$3,608,407$1,759,478▼ $1,848,929
Land, Buildings, and Equipment, Net$1,308,707$1,610,672▲ $301,965
Savings and Temporary Cash Investments$1,359,753--
Cash and Non-Interest-Bearing Accounts$1,300,940$1,294,041▼ $6,899
Pledges and Grants Receivable$1,552,601$853,484▼ $699,117
Prepaid Expenses and Deferred Charges$143,843$45,661▼ $98,182
Total Assets$18,562,354$12,273,720▼ $6,288,634
Other Assets Total$15,392$15,392→ $0
Liabilities
Accounts Payable and Accrued Expenses$4,218,358$2,588,585▼ $1,629,773
Unsecured Notes Loans Payable$1,250,000--
Other Liabilities$0$493,484▲ $493,484
Deferred Revenue$173,536$190,152▲ $16,616
Total Liabilities$5,641,894$3,272,221▼ $2,369,673
Net Assets / Fund Balance
Unrestricted Net Assets$12,920,460$9,001,499▼ $3,918,961
Total Net Assets Fund Balance$12,920,460$9,001,499▼ $3,918,961
Total Liabilities and Net Assets / Fund Balance$18,562,354$12,273,720▼ $6,288,634

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,508,408$2,909,503$4,417,911
Equipment$61,013$387,869$448,882
Leasehold Improvements$41,251$160,241$201,492
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David BerenbaumChief Executive OfficerFT$161,323$152,369$313,692
Barbara ClaySVP - Strategy & Product DevelopmentFT$103,922$120,183$224,105
Jennifer FraserDirector of Contact Center OperationsFT$118,665$70,276$188,941
Scott HengelControllerFT$89,609$98,093$187,702
Kent SchoenGeneral Counsel-$118,062$36,268$154,330
Julie Ann SteinhagenSVP - Stakeholder EngagementFT$118,224$33,453$151,677
Jennifer FraserDirector of Contact Center Operation-$103,153$35,298$138,451
Gene SpencerSenior Vice PresidentFT$124,153$8,083$132,236
Michael SwansonDirector of Business AnalyticsFT$104,684$10,134$114,818
Ken DuncanCFO Thru 5/30/17FT$50,963$7,443$58,406

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Greenpath INCCounseling Services36500 CORPORATE DRIVE, Farmington Hills, MI 48331$4,184,751
Money Management InternationalCounseling Services9009 WEST LOOP SOUTH SUITE 700, Houston, TX 77096$4,071,903
Sykes Enterprises INCCall CenterPO BOX 406238, Atlanta, GA 30384$1,514,722
NavicoreCounseling Services225 WILLOW BROOK ROAD, Freehold, NJ 07728$1,336,500
Springboard Nonprofit ConsumerCounseling Services4351 LATHAM STREET, Riverside, CA 92501$1,046,042
Revenue and Support

Revenue Composition

Contributions and Grants
$6,866,702
Program Service Revenue
$9,261,195
Investment Income
$235,651
Other Revenue
$3,810
All Other Contributions
$5,640,716
Change in Net Assets
$-3,886,432
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,236,561
Salaries, Compensation, and Employee Benefits$5,017,229
Total Fundraising Expense$84,278
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,667,273$1,145,243$72,730$3,885,246
Depreciation Depletion$409,876$334,295-$744,171
Fees for Services Other$354,067$229,505-$583,572
Other Expenses$515,860--$515,860
Current Officers, Directors, Trustees, and Key Employees-$445,088-$445,088
Information Technology$1,907$405,186-$407,093
Occupancy$248,975$79,395-$328,370
Payroll Taxes$201,996$109,301$4,507$315,804
Fees for Services Accounting-$287,813-$287,813
Other Employee Benefits$187,109$78,407$1,006$266,522
Office Expenses$141,283$83,159$43$224,485
Fees for Services Legal-$193,130-$193,130
Travel$102,522$59,236$2,733$164,491
Conferences and Meetings$34,273$91,841$395$126,509
Insurance-$122,335-$122,335
Pension Plan Contributions$70,702$31,055$2,812$104,569
Fees for Services Lobbying-$60,000-$60,000
Advertising$21,614$14,801$52$36,467
Interest$10,290$5,443-$15,733
Fees for Service Investment Mgmnt Fees$3,453$12,141-$15,594
All Other Expenses$729--$729
Total Functional Expenses$16,382,138$3,787,374$84,278$20,253,790
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany Payable$493,484
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Management e-mails a draft copy to all board of director members, and feedback is sought from the board of director members prior to filing the 990 return.

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

Homeownership preservation foundation requires officers, directors and key employees to complete a conflict of interest disclosure form annually. This form asks for any material interests or affiliation which are, or are likely to become, conflicts of interest. Potential conflict circumstances which arise during the course of the year are required to be reported to the board of directors. Board members must excuse themselves from discussion about or voting on any transactions in which they may have a conflict of interest.

Form 990, Part VI, Section B, Line 15

The board relies on an independent, third party compensation consultant to collect comparability data, assess market trends and make recommendations on the ceo's compensation package. The sample of comparable organizations is composed of organizations from which homeownership preservation foundation might recruit a future ceo or which might have an interest in trying to recruit homeownership preservation foundation's ceo and which additionally are located in labor markets where homeownership preservation foundation has significant presence. Specific degree of comparability is based on a) gross receipts and b) total assets. The board approval of the president/ceo's compensation is documented in the board minutes.

Form 990, Part VI, Section C, Line 19

Homeownership preservation foundation's 990 is available at www.guidestar.org or upon request. The annual report, governing documents, conflict of interest policy and financial statements are also available upon request.

Filing and Contact Details

Filer

Filer Name
Homeownership Preservation Foundation
EIN
52-2403507
Phone
6122304020
Address
7645 LYNDALE AVENUE SOUTH NO 250, MINNEAPOLIS, MN 55423

Signing Officer

Name
Gene Spencer
Title
Chief Executive Officer
Phone
6122304020
Signed
2018-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gene Spencer
Formed
2003
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
40
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
ONE SEAGATE SUITE 2650, TOLEDO, OH 43604-1558
Preparer
William M Scott
Phone
4192443711
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The organization determined it was not required to record a liability related to uncertain tax positions at december 31, 2017.

Raw XML AppendixShowing 400 of 896 raw XML fields

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IRS990/Form990PartVIISectionAGrp/PersonNm2MICHAEL POULOS
IRS990/Form990PartVIISectionAGrp/PersonNm3WILLIAM RICHARDS
IRS990/Form990PartVIISectionAGrp/PersonNm4MARK DUHAIME
IRS990/Form990PartVIISectionAGrp/PersonNm5BRUCE A GOTTSCHALL
IRS990/Form990PartVIISectionAGrp/PersonNm6SANJEEV HANDA
IRS990/Form990PartVIISectionAGrp/PersonNm7CHRIS HERBERT
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IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15CFO THRU 5/30/17
IRS990/Form990PartVIISectionAGrp/TitleTxt16CFO
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IRS990/Form990PartVIISectionAGrp/TitleTxt18SENIOR VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19SVP - STAKEHOLDER ENGAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt20SVP - STRATEGY & PRODUCT DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR OF CONTACT CENTER OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF BUSINESS ANALYTICS
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IRS990/MissionDesc0PROVIDES EDUCATION AND COUNSELING TO FINANCIALLY DISTRESSED HOMEOWNERS TO PRESERVE AND PROMOTE HOMEOWNERSHIP.
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IRS990/OtherExpensesGrp/Desc1MHA HELP & ESCALATION
IRS990/OtherExpensesGrp/Desc2TRIAGE CENTER
IRS990/OtherExpensesGrp/Desc3PHONE SERVICES

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