Civic Intelligence

The Housing Partnership Inc

EIN 61-1154315 • 501(c)3 • Louisville, KY

Profile

The organization's vision is to create a community in which housing of choice is not an economic impediment to anyone. The mission statement is to create, sustain and promote access to affordable housing opportunities, to preserve historic structures and historic neighborhoods, and to engage in community and economic development for the benefit of the community.

1512 Crums Lane 401Louisville, KY 40216

www.wearehpi.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

85th percentile

0.77x

Higher debt load relative to assets than 85% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

90th percentile

3.20x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

40th percentile

1.6%

Higher net margin than 40% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

22nd percentile

$208,424

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

23rd percentile

-0.9%

Faster asset growth than 23% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

85th percentile

46%

Faster revenue growth than 85% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Down

$41,057,747

Down $2,586,568 (-5.9%) from 2022

Liabilities

Down

$29,328,629

Down $4,572,395 (-13%) from 2022

Net Assets

Up

$11,729,118

Up $1,985,827 (+20%) from 2022

Revenue

Up

$12,078,295

Up $2,052,905 (+20%) from 2022

Expenses

Up

$10,092,468

Up $401,369 (+4.1%) from 2022

Net Income

Up

$1,985,827

Up $1,651,536 (+494%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $7,591,847Liabilities 2010: $5,326,649Net Assets 2010: $2,265,1982010Assets 2011: $12,446,847Liabilities 2011: $6,293,943Net Assets 2011: $6,152,9042011Assets 2012: $15,772,860Liabilities 2012: $8,387,134Net Assets 2012: $7,385,7262012Assets 2013: $26,015,837Liabilities 2013: $17,327,479Net Assets 2013: $8,688,3582013Assets 2014: $36,646,303Liabilities 2014: $26,624,422Net Assets 2014: $10,021,8812014Assets 2015: $37,107,271Liabilities 2015: $26,808,150Net Assets 2015: $10,299,1212015Assets 2016: $36,778,842Liabilities 2016: $27,111,390Net Assets 2016: $9,667,4522016Assets 2017: $36,858,774Liabilities 2017: $25,839,949Net Assets 2017: $11,018,8252017Assets 2018: $33,849,054Liabilities 2018: $25,858,821Net Assets 2018: $7,990,2332018Assets 2019: $39,487,715Liabilities 2019: $31,193,123Net Assets 2019: $8,294,5922019Assets 2020: $38,232,723Liabilities 2020: $29,652,392Net Assets 2020: $8,580,3312020Assets 2021: $42,165,743Liabilities 2021: $32,756,743Net Assets 2021: $9,409,0002021Assets 2022: $43,644,315Liabilities 2022: $33,901,024Net Assets 2022: $9,743,2912022Assets 2023: $41,057,747Liabilities 2023: $29,328,629Net Assets 2023: $11,729,1182023

Highlighted filing

2023

Assets$41,057,747
Liabilities$29,328,629
Net Assets$11,729,118

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $4,110,2852010Expenses 2011: $7,448,8372011Expenses 2012: $5,829,3652012Expenses 2013: $4,580,3832013Revenue 2014: $9,164,322Expenses 2014: $7,830,799Net Income 2014: $1,333,5232014Revenue 2015: $8,492,164Expenses 2015: $8,214,924Net Income 2015: $277,2402015Revenue 2016: $7,353,253Expenses 2016: $8,895,035Net Income 2016: -$1,541,7822016Revenue 2017: $10,416,370Expenses 2017: $9,064,997Net Income 2017: $1,351,3732017Revenue 2018: $9,199,188Expenses 2018: $12,227,780Net Income 2018: -$3,028,5922018Revenue 2019: $10,411,664Expenses 2019: $10,107,305Net Income 2019: $304,3592019Revenue 2020: $9,953,531Expenses 2020: $9,667,792Net Income 2020: $285,7392020Revenue 2021: $8,946,540Expenses 2021: $8,117,871Net Income 2021: $828,6692021Revenue 2022: $10,025,390Expenses 2022: $9,691,099Net Income 2022: $334,2912022Revenue 2023: $12,078,295Expenses 2023: $10,092,468Net Income 2023: $1,985,8272023

Highlighted filing

2023

Revenue$12,078,295
Expenses$10,092,468
Net Income$1,985,827

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$41.1$29.3$11.7$12.1$10.1$1.99
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.6$33.9$9.74$10.0$9.69$0.33
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.2$32.8$9.41$8.95$8.12$0.83
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.2$29.7$8.58$9.95$9.67$0.29
2019Summary only. Only limited summary data is available for this year.$39.5$31.2$8.29$10.4$10.1$0.30
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.8$25.9$7.99$9.20$12.2$3.03
2017Summary only. Only limited summary data is available for this year.$36.9$25.8$11.0$10.4$9.06$1.35
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.8$27.1$9.67$7.35$8.90$1.54
2015Detailed filing. Detailed filing data is available for this year.$37.1$26.8$10.3$8.49$8.21$0.28
2014Detailed filing. Detailed filing data is available for this year.$36.6$26.6$10.0$9.16$7.83$1.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.0$17.3$8.69$4.58
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$8.39$7.39$5.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$6.29$6.15$7.45
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.59$5.33$2.27$4.11
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 15, 2023
Return Version
2021v4.2
Gross Receipts
$10,381,253
Mission and Program Overview

Mission

We are a non-profit real estate development organization that creates affordable housing opportunities to encourage family stability and support and empower our community. Our vision is for everyone to have an exceptional housing experience.

To create, sustain and promote access to affordable housing opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,598,541$25,881,769▲ $3,283,228
Investments Program Related$5,688,207$5,622,300▼ $65,907
Savings and Temporary Cash Investments$3,722,522$2,430,837▼ $1,291,685
Inventories for Sale or Use$3,114,266$2,319,101▼ $795,165
Cash and Non-Interest-Bearing Accounts$1,734,181$1,519,009▼ $215,172
Other Notes and Loans Receivable, Net$762,854$762,854→ $0
Accounts Receivable$618,964$544,022▼ $74,942
Prepaid Expenses and Deferred Charges$267,702$301,179▲ $33,477
Pledges and Grants Receivable$118,166$118,214▲ $48
Total Assets$42,165,743$43,644,315▲ $1,478,572
Other Assets Total$3,540,340$4,145,030▲ $604,690
Liabilities
Mortgage Notes Payable Secured by Investment Property$25,006,623$28,585,145▲ $3,578,522
Unsecured Notes Loans Payable$6,038,460$2,922,173▼ $3,116,287
Accounts Payable and Accrued Expenses$1,686,199$2,333,062▲ $646,863
Deferred Revenue$25,461$60,644▲ $35,183
Total Liabilities$32,756,743$33,901,024▲ $1,144,281
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,150,464$7,989,655▼ $160,809
Net Assets With Donor Restrictions$1,258,536$1,753,636▲ $495,100
Total Net Assets Fund Balance$9,409,000$9,743,291▲ $334,291
Total Liabilities and Net Assets / Fund Balance$42,165,743$43,644,315▲ $1,478,572

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$99,241$157,014$256,255
Investment Program Related Org$5,547,300--
Buildings$22,985,894$2,543,086-
Land$2,796,634--
Other Assets Org$3,683,875--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew HawesPresidentFT$159,440$18,758$178,198
Patrick CornettExecutive Vice PresidentFT$126,584$36,079$162,663
Lisa DespainVice PresidentFT$138,796$4,536$143,332
Marian SillimanSecretaryFT$55,829$8,341$64,170

Board Members and Trustees

NameTitle
Maria BouvetteBoard Chair
Clay StinnettImmediate Past Board Chair
Andrew ParkerDirector
Brian KarstDirector
Chuck SchramDirector
Eric BowDirector
Jack TrawickDirector
Jennifer MooreDirector
John KoehlingerDirector
Leslie K HaleDirector
Lori FlaneryDirector
Mark F WheelerDirector
Mark OffermanDirector
Rev Gerald JoinerDirector
Rob LockeDirector
Robert B ViceDirector
Roddell McculloughDirector
Scott G LoveDirector
Scott KeadleDirector
Tammy ThomasDirector
Yvonne McafeeDirector
J Barry BarkerCommunity Leader
Billie W WadeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Abn Restoration INCContracted To Rehab Old Houses6244 OLD LAGRANGE RD SUITE 1, Crestwood, KY 40014$817,525
Hicks EnterprisesContracted To Rehab Old Houses2201 LIVERPOOL LANE, Louisville, KY 40218$480,967
Buky ConstructionGeneral Contractor522 BETHEL CHURCH ROAD, Mt Washington, KY 40047$375,359
Larry Allen Heating & Air ConditioningHvac Repair And ReplacementP O BOX 9133, Louisville, KY 40209$366,317
Franklin RemodelingGeneral Contractor193 KNAPP LANE, Taylorsville, KY 40071$342,351
Revenue and Support

Revenue Composition

Contributions and Grants
$1,917,082
Program Service Revenue
$7,553,325
Investment Income
$-58,619
Other Revenue
$613,602
All Other Contributions
$1,612,053
Change in Net Assets
$334,291
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,042,555
Salaries, Compensation, and Employee Benefits$2,645,995
Grants and Similar Amounts Paid$2,549
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,580,651$198,360-$1,779,011
Occupancy$1,258,304$6,605-$1,264,909
Interest$1,013,260--$1,013,260
Depreciation Depletion$587,826$18,544-$606,370
Current Officers, Directors, Trustees, and Key Employees$137,090$411,273-$548,363
Other Employee Benefits$161,371$9,373-$170,744
Payroll Taxes$109,615$38,262-$147,877
Office Expenses$77,849$33,790-$111,639
Insurance-$97,632-$97,632
Fees for Services Accounting-$91,355-$91,355
Information Technology$76,828$8,689-$85,517
Fees for Services Other$46,053$14,833-$60,886
Other Expenses$57,852--$57,852
Fees for Services Legal$33,787$1,852-$35,639
All Other Expenses$11,932$22,991-$34,923
Travel$25,924$943-$26,867
Advertising$7,079--$7,079
Grants to Domestic Orgs$2,549--$2,549
Total Functional Expenses$8,736,597$954,502$0$9,691,099
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$7,231
Fundraising Gross Income$0
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 35% controlled entity
No
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

Form 990 is presented to the finance committee of the board of directors for recommendation of approval to the board prior to filing. The board grants final approval. A final copy of the form 990 is provided to the governing body prior to its filing.

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

We have a nepotism and procurement policy. Before new contracts are entered into, we require a minimum of three bids from independent vendors and contractors and one of the requirements is that they pass the test of not being related to an employee of our organization. Annual certification by the board of directors is required. Key employees are required to disclose any possible conflicts of interest prior to engaging in the activity.

Form 990, Part VI, Section B, Line 15

The organization uses an online resource provided through its human resource/payroll provider to evaluate compensation, including the president and officers. Furthermore, the board secretary obtains information from neighborworks america to evaluate compensation for its officers.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
The Housing Partnership Inc
EIN
61-1154315
Phone
5025855451
Address
1512 CRUMS LANE 401, LOUISVILLE, KY 40216

Signing Officer

Name
Patrick Cornett
Title
Executive Vice President
Phone
5025855451
Signed
2023-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Hawes
Formed
1988
Legal Domicile
Ky
Voting Board Members
24
Independent Board Members
23
Employees
42
Volunteers
79

Preparer

Firm
Mcm Cpas & Advisors Llp
Address
462 SOUTH 4TH STREET SUITE 2600, LOUISVILLE, KY 40202
Preparer
Theresa Batliner CPA
Phone
5027491900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from prior year. The organization maintains an audit and finance committee comprised exclusively of directors who select the independent accountant. The committeee meets with the independent auditor at the conclusion of the annual audit, including an executive session without management.

Financial Statement Notes

PART X, LINE 2:

The organization has received a determination letter from the internal revenue service indicating that it is exempt from income taxes under internal revenue code section 501(c)(3) and is classified as an organization that is not a private foundation. Accordingly, no provision for income taxes is included in the consolidated financial statements. The organization recognizes uncertain income tax positions using the "more-likely-than-not" approach as defined in the asc. No liability for uncertain tax positions has been recorded in the accompanying consolidated financial statements.

Raw XML AppendixShowing 400 of 1,262 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/AccountantCompileOrReviewInd00
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO CREATE, SUSTAIN AND PROMOTE ACCESS TO AFFORDABLE HOUSING OPPORTUNITIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1IMMEDIATE PAST BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2COMMUNITY LEADER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt22TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt25VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt26SECRETARY
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IRS990/MissionDesc0WE ARE A NON-PROFIT REAL ESTATE DEVELOPMENT ORGANIZATION THAT CREATES AFFORDABLE HOUSING OPPORTUNITIES TO ENCOURAGE FAMILY STABILITY AND SUPPORT AND EMPOWER OUR COMMUNITY. OUR VISION IS FOR EVERYONE TO HAVE AN EXCEPTIONAL HOUSING EXPERIENCE.
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