2021-11-05T06:46:52-05:00 2020-12-31 390919055 RITZ HOLMAN LLP 330 E KILBOURN AVE SUITE 550 MILWAUKEE WI 53202 990 2020-01-01 391837474 ACTS COMMUNITY DEVELOPMENT CORPORATION ACTS 4149332215 2414 W VLIET STREET MILWAUKEE WI 53205 MICHAEL GOSMAN PRESIDENT & CEO 4149332215 2021-11-05 1 MICHAEL GOSMAN 999009999 RENEE MESSING P01872384 4142711451 2021-11-03 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ALLISON STEINHAFEL 2414 W VLIET STREET MILWAUKEE WI 53205 3468318 0 X WWW.ACTSHOUSING.ORG X 1995 WI ACTS HOUSING'S MISSION IS EMPOWERMENT THROUGH HOMEOWNERSHIP. 13 12 20 100 0 0 3763116 2935200 409548 398760 21497 99201 -19280 -2354 4174881 3430807 816860 1731040 0 0 1057122 1257847 24091 5130 270823 534013 526069 2432086 3520086 1742795 -89279 6538069 6844173 558983 954366 5979086 5889807 ACTS HOUSING'S MISSION IS EMPOWERMENT THROUGH HOMEOWNERSHIP. 0 0 356955 1000 193669 REAL ESTATE BROKERAGE - ACTS HOME SALES TEAM REPRESENTS FAMILIES AND INDIVIDUALS IN REAL ESTATE SALES TRANSACTIONS. AS LICENSED REALTORS, THEY COORDINATE ALL ASPECTS OF THE EXECUTED SALES CONTRACT IN ORDER TO CLOSE. IN 2020, 66 FAMILIES USED OUR REAL ESTATE BROKERAGE SERVICES TO PURCHASE HOMES, MANY OF WHICH WERE FORMERLY VACANT, VANDALIZED FORECLOSURES. 734832 256597 98522 HOMEBUYER COUNSELING - HOMEBUYER COUNSELORS SUPPORT EACH FAMILY THROUGH ONLINE AND ONE-ON-ONE CONFIDENTIAL COACHING, PROVIDING EACH FAMILY WITH AN INDIVIDUALIZED ROAD MAP ON PERSONAL FINANCES AND CREDIT MANAGEMENT SUCCESS. 1853369 1473443 106569 HOME REHAB COUNSELING - ACTS HOME REHAB COUNSELING STAFF REPRESENTS FAMILIES AND INDIVIDUALS DURING COORDINATION AND EXECUTION OF REHAB PLANS. AS EXPERIENCED REHAB PROFESSIONALS, STAFF SUPPORT FAMILIES IN PLANNING ALL REPAIRS NEEDED FOR DECENT, SAFE, SANITARY, AND AFFORDABLE OCCUPANCY. IN 2020, 26 NEW FAMILIES RECEIVED THESE SERVICES. GRANTS EXPENSE WERE MADE TO ACTS LENDING, INC AND PROVIDED CAPITAL FOR MORTGAGE LENDING FOR THE PURCHASE AND REHAB EXPENSES INCURRED IN THE ACTIVITIES LISTED ABOVE. 2945156 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 0 1 37 0 1 20 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 12 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X X MICHAEL GOSMAN 4149332215 2414 W VLIET ST MILWAUKEE WI 53205 ANTHONY FRANDA DIRECTOR 1.00 1.00 X 0 0 0 JOE SCHLIDT VICE CHAIR 1.00 1.00 X X 0 0 0 ALLISON STEINHAFEL CHAIR 1.00 1.00 X X 0 0 0 KEVIN MALANEY DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL ZIMMERMAN PAST PRESIDENT 1.00 1.00 X X 0 0 0 KURT KELLOGG DIRECTOR 1.00 1.00 X 0 0 0 CHRISTOPHER SCHREIBER DIRECTOR 1.00 1.00 X 0 0 0 PAM EVASON DIRECTOR 1.00 1.00 X 0 0 0 STEPHEN J ROTHE TREASURER 1.00 1.00 X X 0 0 0 KRISTEN GAGLIANO DIRECTOR 1.00 1.00 X 0 0 0 JOSH YAMAT DIRECTOR 1.00 1.00 X 0 0 0 ANTHONY MCHENRY DIRECTOR 1.00 1.00 X 0 0 0 HEATHER RAMIREZ DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL GOSMAN PRESIDENT & CEO 30.00 10.00 X 144607 0 15935 DOROTHY YORK CHIEF OPERATING OFFICER 30.00 10.00 X 110559 0 10020 255166 0 25955 2 0 1 0 0 165953 259964 2509283 2935200 REAL ESTATE BROKERAGE 531390 193669 193669 STAFFING REVENUE 561300 106569 106569 COUNSELING FEES 522291 98522 98522 398760 15199 15199 84002 0 84002 84002 84002 12157 165953 37511 -25354 -25354 OTHER REVENUE 900099 23000 23000 23000 3430807 398760 0 96847 1473443 1473443 257597 257597 163193 116091 24374 22728 945034 672269 141151 131614 64802 44176 9741 10885 84818 54218 17154 13446 67898 31342 36556 5130 5130 123145 88697 13411 21037 39723 22670 412 16641 51332 37099 9608 4625 38162 22301 5750 10111 32147 16781 10422 4944 9280 6765 1626 889 6639 2936 1289 2414 31870 19122 6374 6374 33663 21839 10016 1808 CLOSING COSTS 29720 29720 STAFF DEVELOPMENT 20870 8676 9117 3077 MEMBERSHIP DUES 9471 888 4501 4082 BAD DEBT EXPENSE 8400 5050 3350 23749 13476 2605 7668 3520086 2945156 304107 270823 835327 1434764 2799212 2937096 203001 384839 2177526 1477207 39861 65703 639260 94696 440143 544564 42999 0 6538069 6844173 98401 177497 0 447082 594869 158500 13500 23500 558983 954366 X 2917823 3193561 3061263 2696246 5979086 5889807 6538069 6844173 -89279 0 X X 0 1 X 1 0 X 1487340 1969270 3712157 3763116 2935200 13867083 1487340 1969270 3712157 3763116 2935200 13867083 2624655 11242428 3258 8498 10200 45045 15199 82200 132 1506 98047 59796 119159 278640 14227923 2245225 0.79020 0.75910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 578059 59319 518740 61201 35377 25824 544564 EARNEST MONEY 23500 23500 X PART IV, LINE 2B: THE ORGANIZATION HOLDS EARNEST MONEY AND ESCROWS RELATED TO HOME SALES, HOME REHAB, AND HOME LOANS. ON OR ABOUT APRIL 2013, THE ORGANIZATION, IN CONJUNCTION WITH OUTSIDE COUNSEL, REVIEWED ITS COMPLIANCE WITH CREDIT COUNSELING AND LENDING REQUIREMENTS, INCLUDING BOTH STATE AND FEDERAL REQUIREMENTS. THE ORGANIZATION CURRENTLY HAS MET ALL APPLICABLE REQUIREMENTS AND HAS ADOPTED BEST PRACTICES FOR ITS CREDIT COUNSELING AND LENDING, INCLUDING THOSE REQUIREMENTS IMPOSED BY FEDERAL TAX LAW (IRS SECTION 501(Q)). PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. THE AFFILIATE IS A SOLELY OWNED CORPORATION AND THEREFORE THE INTERNAL REVENUE SERVICE CONSIDERS IT TO BE A DISREGARDED ENTITY FOR TAX PURPOSES. ALL AFFILIATE ACTIVITY IS INCLUDED UNDER ACTS COMMUNITY DEVELOPMENT CORPORATION FOR TAX PURPOSES. MANAGEMENT HAS REVIEWED ALL TAX POSITIONS RECOGNIZED IN PREVIOUSLY FILED TAX RETURNS AND THOSE EXPECTED TO BE TAKEN IN FUTURE TAX RETURNS. AS OF DECEMBER 31, 2020, THE ORGANIZATION AND AFFILIATE HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. THE ORGANIZATION DOES NOT ANTICIPATE ANY SIGNIFICANT CHANGES TO UNRECOGNIZED INCOME TAX BENEFITS OVER THE NEXT YEAR. LONGEST TABLE 178110 165953 12157 12527 26754 178110 165953 12157 12527 26754 39281 -27124 1 ACTS LENDING INC 2414 W VLIET STREET MILWAUKEE WI 53205 462986750 501C3 1473443 FMV HOUSING LENDING 1 0 WELLS FARGO FOUNDATION 5 50000 FMV HOMEBUYER GRANTS STATE OF WI HCRI GRANTS 98 207597 FMV HOMEBUYER GRANTS PART I, LINE 2: ACTS MAINTAINS RECORDS TO SUBSTANTIATE ALL GRANT DISBURSEMENTS AND ELIGIBILITY REQUIREMENTS. X 0 0 0 0 0 0 0 0 0 MICHAEL GOSMAN PRESIDENT & CEO 114402 0 30205 0 0 0 0 0 15935 0 160542 0 0 0 DOROTHY YORK CHIEF OPERATING OFFICER 102959 0 7600 0 0 0 0 0 10020 0 120579 0 0 0 BRIAN MALANEY BROTHER OF DIRECTOR 11805 CONSULTING 0 FORM 990, PART VI, SECTION A, LINE 2 LINE 2 EXPLANATION - BRIAN MALANEY IS A FINANCIAL CONSULTANT FOR ACTS. HIS BROTHER IS A BOARD MEMBER. BRIAN IS NOT AN OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE. TOTAL FEES PAID WERE $11,805. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THE ENTIRE BOARD IS PROVIDED THE 990 (EXCLUDING SCHEDULE B) FOR REVIEW PRIOR TO FILING, THE EXECUTIVE COMMITTEE REVIEWS THE FULL 990 (INCLUDING SCHEDULE B) AND DISCUSSES ANY NECESSARY ITEMS WITH THE FULL BOARD FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST. OTHER MEMBERS OF THE BOARD OR COMMITTEE DETERMINE IF A CONFLICT EXISTS. WHEN THIS OCCURS THE BOARD MEMBER WITH A CONFLICT OF INTEREST IS ASKED TO LEAVE DURING THE DISCUSSION AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ALL STAFF OTHER THAN THE PRESIDENT & CEO IS SET BY THE PRESIDENT & CEO AND APPROVED BY THE BOARD OF DIRECTORS AS PART OF THE ANNUAL BUDGETING PROCESS. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS INDIVIDUAL COMPENSATION FOR ALL STAFF AND ESTABLISHES THE COMPENSATION FOR THE PRESIDENT & CEO, USING AVAILABLE COMPENSATION STUDIES AND TAKING INTO ACCOUNT THE PRESIDENT & CEO'S PERFORMANCE. COMPENSATION FOR ALL STAFF OTHER THAN THE PRESIDENT & CEO IS SET BY THE PRESIDENT & CEO AND APPROVED BY THE BOARD OF DIRECTORS AS PART OF THE ANNUAL BUDGETING PROCESS. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS INDIVIDUAL COMPENSATION FOR ALL STAFF AND ESTABLISHES THE COMPENSATION FOR THE PRESIDENT & CEO, USING AVAILABLE COMPENSATION STUDIES AND TAKING INTO ACCOUNT THE PRESIDENT & CEO'S PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES. ACTS LENDING INC 2414 W VLIET STREET MILWAUKEE WI 53205 LENDING WI 501(C)(3) 509 (A)(1) ACTS COMMUNITY DEVELOPMENT CORP 1 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 ACTS LENDING INC B 1150000 CASH ACTS LENDING INC O 106569 CASH ACTS LENDING INC Q 4800 CASH ACTS LENDING INC D 500000 PLEDGED AMOUNT ACTS LENDING INC L 323443 CASH