Civic Intelligence

Midwest Housing Development Fund Inc.

990 • Fiscal year 2015 • EIN 84-1686593

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 09, 2016

Organization ProfileWWW.MHDFINC.COM
515 N 162nd Ave No 202Omaha, NE 68118

(402) 334-8899

Siviq Scores

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

Liabilities / Assets

88th percentile

0.89x

Higher debt load relative to assets than 88% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

36.94x

Higher debt load relative to revenue than 99% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

13th percentile

$36,304

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 7.6% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

93rd percentile

41%

Faster asset growth than 93% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

6th percentile

-45%

Faster revenue growth than 6% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$19,892,755

Up $5,830,558 (+41%) from 2014

Net Assets

Up

$2,246,895

Up $57,066 (+2.6%) from 2014

Liabilities

Up

$17,645,860

Up $5,773,492 (+49%) from 2014

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin71st percentile

Revenue

Down

$477,682

Down $384,153 (-45%) from 2014

Expenses

Up

$420,616

Up $74,758 (+22%) from 2014

Net Income

Down

$57,066

Down $458,911 (-89%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$100M$50M$0Assets 2010: $5,782,587Liabilities 2010: $4,879,413Net Assets 2010: $903,1742010Assets 2011: $6,421,493Liabilities 2011: $5,454,973Net Assets 2011: $966,5202011Assets 2012: $8,599,093Liabilities 2012: $7,562,388Net Assets 2012: $1,036,7052012Assets 2013: $12,774,955Liabilities 2013: $11,101,103Net Assets 2013: $1,673,8522013Assets 2014: $14,062,197Liabilities 2014: $11,872,368Net Assets 2014: $2,189,8292014Assets 2015: $19,892,755Liabilities 2015: $17,645,860Net Assets 2015: $2,246,8952015Assets 2016: $16,994,820Liabilities 2016: $14,143,319Net Assets 2016: $2,851,5012016Assets 2017: $20,343,016Liabilities 2017: $17,375,794Net Assets 2017: $2,967,2222017Assets 2018: $22,591,062Liabilities 2018: $17,285,046Net Assets 2018: $5,306,0162018Assets 2019: $31,169,182Liabilities 2019: $22,163,623Net Assets 2019: $9,005,5592019Assets 2020: $33,263,492Liabilities 2020: $23,404,137Net Assets 2020: $9,859,3552020Assets 2021: $35,913,740Liabilities 2021: $24,173,620Net Assets 2021: $11,740,1202021Assets 2022: $56,720,605Liabilities 2022: $36,870,474Net Assets 2022: $19,850,1312022Assets 2023: $74,703,795Liabilities 2023: $49,391,737Net Assets 2023: $25,312,0582023Assets 2024: $96,332,678Liabilities 2024: $59,235,806Net Assets 2024: $37,096,8722024

Highlighted filing

2015

Assets$19,892,755
Liabilities$17,645,860
Net Assets$2,246,895
Open 2015 Filing

Operations Trend

Revenue Growth6th percentile

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

$15M$10M$5.0M$0Expenses 2010: $103,9492010Expenses 2011: $129,0312011Expenses 2012: $170,5332012Revenue 2013: $953,912Expenses 2013: $316,765Net Income 2013: $637,1472013Revenue 2014: $861,835Expenses 2014: $345,858Net Income 2014: $515,9772014Revenue 2015: $477,682Expenses 2015: $420,616Net Income 2015: $57,0662015Revenue 2016: $1,142,728Expenses 2016: $538,122Net Income 2016: $604,6062016Revenue 2017: $656,383Expenses 2017: $540,662Net Income 2017: $115,7212017Revenue 2018: $1,380,293Expenses 2018: $741,499Net Income 2018: $638,7942018Revenue 2019: $3,817,761Expenses 2019: $890,718Net Income 2019: $2,927,0432019Revenue 2020: $1,975,078Expenses 2020: $1,121,282Net Income 2020: $853,7962020Revenue 2021: $2,208,026Expenses 2021: $1,266,183Net Income 2021: $941,8432021Revenue 2022: $5,284,967Expenses 2022: $1,297,140Net Income 2022: $3,987,8272022Revenue 2023: $5,776,652Expenses 2023: $1,853,460Net Income 2023: $3,923,1922023Revenue 2024: $11,801,333Expenses 2024: $2,423,869Net Income 2024: $9,377,4642024

Highlighted filing

2015

Revenue$477,682
Expenses$420,616
Net Income$57,066
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 9, 2016
Return Version
2015v2.1
Gross Receipts
$477,682
Mission and Program Overview

Mission

The mission of midwest housing development fund is to promote sustainable community development and quality of life in the midwest by providing resources for the development of affordable housing.

To promote sustainable community development and quality of life in the midwest united states.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,889,885$6,115,079▲ $3,225,194
Accounts Receivable$113,750$79,905▼ $33,845
Pledges and Grants Receivable$229,058$69,570▼ $159,488
Prepaid Expenses and Deferred Charges$1,375$2,646▲ $1,271
Land, Buildings, and Equipment, Net$0$2,409▲ $2,409
Total Assets$14,062,197$19,892,755▲ $5,830,558
Other Assets Total$10,828,129$13,623,146▲ $2,795,017
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,826,759$17,600,631▲ $5,773,872
Accounts Payable and Accrued Expenses$45,609$45,229▼ $380
Total Liabilities$11,872,368$17,645,860▲ $5,773,492
Net Assets / Fund Balance
Unrestricted Net Assets$2,189,829$2,246,895▲ $57,066
Total Net Assets Fund Balance$2,189,829$2,246,895▲ $57,066
Total Liabilities and Net Assets / Fund Balance$14,062,197$19,892,755▲ $5,830,558

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,409$15,833$18,242
Other Assets Org$13,623,146--
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lara HuskeySenior Vice PresidentFT$36,304$36,304

Board Members and Trustees

NameTitle
Richard SchenckChairperson
Becky ChristoffersenPresident
John WiechmannExecutive Vice President
Christine HensleyDirector
Danielle HillDirector
James ZimmermanDirector
Renee DesaiDirector
Valerie ThompsonDirector
Vicki LeaDirector
Vicky DaytonDirector
Jason MainCFO
Kim KuhleSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$100,000
Program Service Revenue
$375,876
Investment Income
$1,806
Other Revenue
$0
All Other Contributions
$100,000
Change in Net Assets
$57,066

Audited Revenue Reconciliation

Revenue per Audited Statements
$477,682
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$477,682
Total Revenue per Form 990
$477,682
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$375,333
Salaries, Compensation, and Employee Benefits$45,283
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$319,531--$319,531
Current Officers, Directors, Trustees, and Key Employees$41,488--$41,488
Fees for Services Management-$34,160-$34,160
Fees for Services Accounting-$5,235-$5,235
Fees for Services Legal-$4,482-$4,482
Fees for Services Other$524$3,370-$3,894
Office Expenses-$3,415-$3,415
Payroll Taxes$2,777--$2,777
Travel-$2,306-$2,306
Insurance-$1,151-$1,151
Other Employee Benefits$1,018--$1,018
Conferences and Meetings-$522-$522
Advertising-$380-$380
Depreciation Depletion$257--$257
Total Functional Expenses$365,595$55,021$0$420,616

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$420,616
Total Expenses per Audited Statements$420,616
Total Expenses per Form 990$420,616
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
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Midwest housing development fund entered into a management agreement for a period of ten years commencing september 5, 2005 with midwest housing equity group, inc., a 501(c)(3) organization, to manage the affairs of midwest housing development fund. Due to the expiration of the above-mentioned agreement, midwest housing development fund entered into a new management agreement with midwest housing equity group, inc., a 501(c)(3) organization, for a period of three years commencing december 11, 2015 to manage the affairs of midwest housing development fund. The agreement may be extended for an additional term of five years, or any lesser increment of time, upon the signed, written agreement of the parties.”

Form 990, Part VI, Section B, Line 11

“A draft of the form 990 is provided to the president and is reviewed in detail. The return is not filed until the form 990 and all supplemental information attached to the return has been approved by the president.”

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

“All loans made to organizations that could be of financial benefit to the above mentioned individuals go through an approval process by a loan committee consisting of independent board members.”

Form 990, Part VI, Section C, Line 19

“Midwest housing development fund does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
Midwest Housing Development Fund Inc
EIN
84-1686593
Phone
4023348899
Address
515 N 162ND AVE NO 202, OMAHA, NE 68118

Signing Officer

Name
Jason Main
Title
CFO
Phone
4023348899
Signed
2016-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Becky Christoffersen
Formed
2000
Legal Domicile
Ne
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
0

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD STE 300, CARMEL, IN 46032
Preparer
Ellen Wilde
Phone
3178485700
Supplemental Narrative

Additional Explanations

PART XII FINANCIAL STATEMENTS AND REPORTING LINE 2C:

“When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”

Financial Statement Notes

PART X, LINE 2:

“The corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and state income tax. Accordingly, no provision for federal and state taxes on revenue and income has been recognized in the accompanying financial statements. Generally, the federal and state tax returns were subject to examinations from the three years after the later of the original or extended due date or the date filed by the applicable tax authorities.”

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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF MIDWEST HOUSING DEVELOPMENT FUND IS TO PROMOTE SUSTAINABLE COMMUNITY DEVELOPMENT AND QUALITY OF LIFE IN THE MIDWEST BY PROVIDING RESOURCES FOR THE DEVELOPMENT OF AFFORDABLE HOUSING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt011826759
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt017600631
IRS990/NetAssetsOrFundBalancesBOYAmt02189829
IRS990/NetAssetsOrFundBalancesEOYAmt02246895
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03415
IRS990/OfficeExpensesGrp/TotalAmt03415
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt010828129
IRS990/OtherAssetsTotalGrp/EOYAmt013623146
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01018
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01018
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt02777
IRS990/PayrollTaxesGrp/TotalAmt02777
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0229058
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt069570
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01375
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02646
IRS990/PrincipalOfficerNm0BECKY CHRISTOFFERSEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST INCOME - LOAN
IRS990/ProgramServiceRevenueGrp/Desc1ORIGINATION FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2PROVISION FOR NOTE LOS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0335661
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt133900
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt26315
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0335661
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt133900
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26315
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0459558
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03357
IRS990/PYOtherExpensesAmt0345858
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0398920
IRS990/PYRevenuesLessExpensesAmt0515977
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0345858
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0861835
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt057066
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0375876
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0100000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0459558
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0612451
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt061354
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt010000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01243363
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01806
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt03357
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt04277
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt03158
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt04861
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt017459
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0375876
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0398920
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0337185
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0176206
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0177516
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01465703
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01806
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03357
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt04277
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt03158
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt04861
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt017459
IRS990ScheduleA/InvestmentIncomeCYPct00.00640
IRS990ScheduleA/InvestmentIncomePYPct00.00650
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99360
IRS990ScheduleA/PublicSupportPY509Pct00.99350
IRS990ScheduleA/PublicSupportTotal509Amt02709066
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0475876
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0858478
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0949636
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0237560
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0187516
IRS990ScheduleA/Total509Grp/TotalAmt02709066
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0477682
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0861835
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0953913
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0240718
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0192377
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02726525
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0420616
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt013623146
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0PROGRAM-RELATED LOANS TO LOW-INCOME HOUSING DEVELOPERS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02409
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015833
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt018242
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0477682
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED BY THE APPLICABLE TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02409
IRS990ScheduleD/TotalBookValueOtherAssetsAmt013623146
IRS990ScheduleD/TotalExpensesPerForm990Amt0420616
IRS990ScheduleD/TotalRevenuePerForm990Amt0477682
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0477682
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0420616
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MIDWEST HOUSING DEVELOPMENT FUND ENTERED INTO A MANAGEMENT AGREEMENT FOR A PERIOD OF TEN YEARS COMMENCING SEPTEMBER 5, 2005 WITH MIDWEST HOUSING EQUITY GROUP, INC., A 501(C)(3) ORGANIZATION, TO MANAGE THE AFFAIRS OF MIDWEST HOUSING DEVELOPMENT FUND. DUE TO THE EXPIRATION OF THE ABOVE-MENTIONED AGREEMENT, MIDWEST HOUSING DEVELOPMENT FUND ENTERED INTO A NEW MANAGEMENT AGREEMENT WITH MIDWEST HOUSING EQUITY GROUP, INC., A 501(C)(3) ORGANIZATION, FOR A PERIOD OF THREE YEARS COMMENCING DECEMBER 11, 2015 TO MANAGE THE AFFAIRS OF MIDWEST HOUSING DEVELOPMENT FUND. THE AGREEMENT MAY BE EXTENDED FOR AN ADDITIONAL TERM OF FIVE YEARS, OR ANY LESSER INCREMENT OF TIME, UPON THE SIGNED, WRITTEN AGREEMENT OF THE PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF THE FORM 990 IS PROVIDED TO THE PRESIDENT AND IS REVIEWED IN DETAIL. THE RETURN IS NOT FILED UNTIL THE FORM 990 AND ALL SUPPLEMENTAL INFORMATION ATTACHED TO THE RETURN HAS BEEN APPROVED BY THE PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL LOANS MADE TO ORGANIZATIONS THAT COULD BE OF FINANCIAL BENEFIT TO THE ABOVE MENTIONED INDIVIDUALS GO THROUGH AN APPROVAL PROCESS BY A LOAN COMMITTEE CONSISTING OF INDEPENDENT BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MIDWEST HOUSING DEVELOPMENT FUND DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII FINANCIAL STATEMENTS AND REPORTING LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt014062197
IRS990/TotalAssetsEOYAmt019892755
IRS990/TotalAssetsGrp/BOYAmt014062197
IRS990/TotalAssetsGrp/EOYAmt019892755
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0100000
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt055021
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0365595
IRS990/TotalFunctionalExpensesGrp/TotalAmt0420616
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011872368
IRS990/TotalLiabilitiesEOYAmt017645860

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,892,755
Liabilities
$17,645,860
Net assets
$2,246,895
Revenue
$477,682
Expenses
$420,616
Net income
$57,066
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$96.3$59.2$37.1$11.8$2.42$9.38
2023Detailed filing. Detailed filing data is available for this year.$74.7$49.4$25.3$5.78$1.85$3.92
2022Detailed filing. Detailed filing data is available for this year.$56.7$36.9$19.9$5.28$1.30$3.99
2021Detailed filing. Detailed filing data is available for this year.$35.9$24.2$11.7$2.21$1.27$0.94
2020Detailed filing. Detailed filing data is available for this year.$33.3$23.4$9.86$1.98$1.12$0.85
2019Detailed filing. Detailed filing data is available for this year.$31.2$22.2$9.01$3.82$0.89$2.93
2018Detailed filing. Detailed filing data is available for this year.$22.6$17.3$5.31$1.38$0.74$0.64
2017Detailed filing. Detailed filing data is available for this year.$20.3$17.4$2.97$0.66$0.54$0.12
2016Detailed filing. Detailed filing data is available for this year.$17.0$14.1$2.85$1.14$0.54$0.60
2015Detailed filing. Detailed filing data is available for this year.$19.9$17.6$2.25$0.48$0.42$0.06
2014Detailed filing. Detailed filing data is available for this year.$14.1$11.9$2.19$0.86$0.35$0.52
2013Detailed filing. Detailed filing data is available for this year.$12.8$11.1$1.67$0.95$0.32$0.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.60$7.56$1.04$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.42$5.45$0.97$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.78$4.88$0.90$0.10