2018-08-02T16:24:06-06:00 2018-03-31 460952065 SHAW & CO PC 1564 SOUTH 500 WEST SUITE 201 BOUNTIFUL UT 840107400 990 2017-04-01 870514438 MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION MOUN 4356479719 1960 SIDWINDER DR STE 107 PARK CITY UT 840607448 SCOTT LOOMIS EX. DIRECTOR 4356479719 2018-07-26 true JUSTIN R SHAW CPA CFE CGMA P00081558 8012943155 2018-08-02 2017 2022-09-23 18:48:47Z SCOTT LOOMIS 1960 SIDEWINDER DR SUITE 107 PARK CITY UT 840607448 3202179 false X HTTP://WWW.HOUSINGHELP.ORG X 1993 UT MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION'S (MCHA) PURPOSE IS BASED ON THE BELIEF THAT A SAFE AFFORDABLE HOME IS OFTEN A FAMILYS FIRST STEP TOWARD ECONOMIC SELF-SUFFICIENCY. MCHA ADDRESSES THE DUAL PROBLEMS OF HOUSING AFFORDABILITY AND AVAILABILITY ON THREE FRONTS: ACQUISITION AND NEW CONSTRUCTION OF AFFORDABLE HOUSING, DIRECT ASSISTANCE IN SECURING HOUSING AND NEEDED BASIC SERVICES, AND EDUCATION AND ADVOCACY TO PROMOTE HOUSING POLICY. 11 11 11 0 915898 1147830 692275 1123360 36164 31099 125334 6846 1769671 2309135 90399 82527 0 784552 845935 0 19273 431271 1036868 1306222 1965330 463449 343805 7748193 13905476 2866169 8679647 4882024 5225829 X MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION'S (MCHA) PURPOSE IS BASED ON THE BELIEF THAT A SAFE AFFORDABLE HOME IS OFTEN A FAMILYS FIRST STEP TOWARD ECONOMIC SELF-SUFFICIENCY. MCHA ADDRESSES THE DUAL PROBLEMS OF HOUSING AFFORDABILITY AND AVAILABILITY ON THREE FRONTS: ACQUISITION AND NEW CONSTRUCTION OF AFFORDABLE HOUSING, DIRECT ASSISTANCE IN SECURING HOUSING AND NEEDED BASIC SERVICES, AND EDUCATION AND ADVOCACY TO PROMOTE HOUSING POLICY. false false 1796444 82527 1123360 SEE SCHEDULE O DURING THE FISCAL YEAR ENDING MARCH 31, 2017, MOUNTAINLANDS COMMUNITY HOUSING TRUST (MCHT) COMPLETED 11 SELF HELP HOMES IN FRANCIS BRINGING THE TOTAL OF SELF HELP HOMES COMPLETED SINCE 2002 TO 192. THESE HOMES WERE COMPLETED UNDER MCHT'S SELF HELP PROGRAM WITH A USDA RURAL DEVELOPMENT GRANT. NINE MORE HOMES WERE UNDER CONSTRUCTION AT YEAR-END, AND LOTS HAVE BEEN ACQUIRED FOR THE NEXT GROUP. THE LOAN FUNDING FROM GE CAPIAL (NOW SYNCHRONY BANK) FOR ACQUISITION OF LOTS FOR SELF HELP HOMES WAS PAID OFF IN FULL IN APRIL. MCHT COMPLETED CONSTRUCTION AND RENT-UP OF ITS RICHER PLACE APARTMENTS 28 UNIT PROJECT IN KIMBALL JUNCTION. MCHT'S SUMMIT COUNTY CONTRACT OF 50,000 WAS RENEWED AND THE SERVICE AGREEMENT WITH PARK CITY MUNICIPAL CORPORATION WAS RENEWED AT 20,000 PER YEAR. ADDITIONALLY, MCHT ENTERED INTO A SIMILAR CONTRACT WITH WASATCH COUNTY. TWO TRANSITIONAL HOUSING GRANTS WITH HUD CONCLUDED IN FY2017 AND WERE NOT RENEWED. HOWEVER, MCHT CONTINUED THIS PROGRAM WITH SIX UNITS (PREVIOUSLY ELEVEN), SUCCESSFULLY RAISING FUNDING WITHOUT FEDERAL GRANTS. MCHT HAS BUILT OPERATING RESERVES AND RESERVES FOR DEVELOPMENT TO THE POINT WHERE LINES OF CREDIT RARELY NEED TO BE UTILIZED. MCHT CURRENTLY IS IN A STRONG CASH POSITION WITH ALMOST 1,315,000 OF UNRESTRICTED FUNDS AVAILABLE IN SUPPORT OF A CONTINUING BALANCED BUDGET AND PRODUCTIVE DEVELOPMENT EFFORTS. MCHT INCREASED STAFF IN APRIL 2016 BY HIRING STEVE LAURENT, A LAWYER BY TRAINING AND EXPERIENCE, TO ASSIST IN ALL AREAS. MCHT EXPANDED ITS OFFICE SPACE TO ACCOMODATE. 1796444 true true false false false false false false false false true false true true true true false true false false false false false false false false false false true true false false false false false false false false false false false false true true false false false true 18 0 11 true false false false false false false false false false false X 11 11 false true false false false false false true true false false true true true true true true true true false UT X X X LAURA ELTON 4356479719 1960 SIDEWINDER DR 107 PARK CITY UT 840607448 BOB RICHER PRESIDENT 1.50 X 0 0 0 MONIKA GUENDNER VICE PRESIDE 0.50 X 0 0 0 RYAN HOFFMAN TREASURER 0.50 X 0 0 0 ANNETTE SNEED SECRETARY 0.50 X 0 0 0 JEFF BRADSHAW BOARD MEMBER 0.50 X 0 0 0 STEVE ISSOWITS BOARD MEMBER 0.50 X 0 0 0 THOMAS EDDINGTON JR BOARD MEMBER 0.50 X 0 0 0 KIMBER GABRYSZAK BOARD MEMBER 0.50 X 0 0 0 GEORGE COBURN BOARD MEMBER 0.50 X 0 0 0 MARY CHRISTA SMITH BOARD MEMBER 0.50 X 0 0 0 SOLANA ASTORGA BOARD MEMBER 0.50 X 0 0 0 SCOTT LOOMIS EX. DIRECTOR 40.00 X 167336 0 7767 167336 7767 1 false true false 941350 206480 387 1147830 HOLIDAY VILLAGE RENT 442318 442318 MANAGEMENT FEES 302779 302779 MEADOWVIEW APARTMENTS RENT 194664 194664 WASHINGTON MILL RENT 72283 72283 OTHER INCOME 55907 55907 55409 55409 1123360 31099 31099 899890 893044 6846 6846 2309135 1130206 31099 3000 3000 79527 79527 167336 128849 33467 5020 549992 470762 69595 9635 63292 52906 9093 1293 65315 54597 9384 1334 26076 24482 1378 216 18038 16203 1675 160 150628 139625 9523 1480 8076 6700 1317 59 138915 138915 322063 320707 1356 3250 3250 MANAGEMENT FEES 100478 100478 REPAIRS 59273 59273 REPAIRS 40554 40554 SALARIES 29328 29328 140189 130538 9575 76 1965330 1796444 149613 19273 1162109 1096628 1524744 1377113 161174 40315 1282123 1347431 11795222 4886532 3341973 6908690 816499 276070 2318800 7748193 13905476 56549 120396 1495942 6356492 1313678 2202759 2866169 8679647 X 4882024 5225829 4882024 5225829 7748193 13905476 343805 X false true X true false X 884721 1003026 853272 915898 1203350 4860267 884721 1003026 853272 915898 1203350 4860267 193069 4667198 50798 48271 31395 28532 31099 190095 5050362 2023250 0.92410 0.93740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3542076 3542076 8202119 4861732 3340387 30359 11600 18759 20668 13200 7468 6908690 INVESTMENT IN SUBSIDIARIES 816499 816499 DEVELOPMENTS IN PROGRESS 1954118 HOLIDAY VILLAGE - OTHER ASSETS 210463 INVESTMENT IN LAND - SELF-HELP 133532 MEADOWVIEW OTHER ASSETS 12110 OTHER CURRENT ASSETS 8577 2318800 INVESTMENTS IN LAND LOANS 1671032 SELF-HELP PARTICIPANT RESTRICTED 271227 SHOP CONSTRUCTION LOANS 145500 DEFERRED REVENUE - SELF-HELP SALES 115000 2202759 X 2309135 2309135 2309135 1965330 1965330 1965330 SCHEDULE D, PAGE 3, PART X MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION HAS BEEN GRANTED AN EXEMPTION FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(1) OF THE CODE. AS SUCH, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE FINANCIAL STATEMENTS. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED MARCH 31, 2018. THE ORGANIZATION'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, FOR THE YEARS ENDING MARCH 31, 2018, 2017, 2016, AND 2015 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. IF AN UNCERTAIN TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD, THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY TO BE RECOGNIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY IS RECORDED. THE ORGANIZATION'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. MANAGEMENT HAS EVALUATED THE TAX POSITIONS REFLECTED IN THE ORGANIZATION'S TAX FILINGS AND DOES NOT BELIEVE THAT ANY MATERIAL UNCERTAIN TAX POSITIONS EXIST. false TRANSITIONAL HOUSING 11 79527 SCHEDULE I, PAGE 1, PART I, LINE 2 TRANSITIONAL HOUSING GRANT FUNDING IS NOT PASSED THROUGH BUT IS USED FOR RENT AND UTILITIES FOR HOUSING UNITS, FOR CASE MANAGEMENT, AND FOR ADMINISTRATION ACCORDING TO ANY REQUIREMENTS OF THE GRANTS TO MCHA. TENANT/CLIENT ELIGIBILITY WAS AS PER HUD REQUIREMENTS; SIMILAR REQUIREMENTS HAVE BEEN MAINTAINED AFTER HUD GRANT ENDED. X X X false false false false false false false false false SCOTT LOOMIS EX. DIRECTOR 167336 7767 175103 FORM 990 - ORGANIZATION'S MISSION MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION'S (MCHA) PURPOSE IS BASED ON THE BELIEF THAT A SAFE AFFORDABLE HOME IS OFTEN A FAMILYS FIRST STEP TOWARD ECONOMIC SELF-SUFFICIENCY. MCHA ADDRESSES THE DUAL PROBLEMS OF HOUSING AFFORDABILITY AND AVAILABILITY ON THREE FRONTS: ACQUISITION AND NEW CONSTRUCTION OF AFFORDABLE HOUSING, DIRECT ASSISTANCE IN SECURING HOUSING AND NEEDED BASIC SERVICES, AND EDUCATION AND ADVOCACY TO PROMOTE HOUSING POLICY. FORM 990, PAGE 2, PART III, LINE 4A MCHT'S SUMMIT COUNTY CONTRACT OF 50,000 WAS RENEWED AND THE SERVICE AGREEMENT WITH PARK CITY MUNICIPAL CORPORATION WAS RENEWED AT 20,000 PER YEAR. ADDITIONALLY, MCHT ENTERED INTO A SIMILAR CONTRACT WITH WASATCH COUNTY. TWO TRANSITIONAL HOUSING GRANTS WITH HUD CONCLUDED IN FY2017 AND WERE NOT RENEWED. HOWEVER, MCHT CONTINUED THIS PROGRAM WITH SIX UNITS (PREVIOUSLY ELEVEN), SUCCESSFULLY RAISING FUNDING WITHOUT FEDERAL GRANTS. MCHT HAS BUILT OPERATING RESERVES AND RESERVES FOR DEVELOPMENT TO THE POINT WHERE LINES OF CREDIT RARELY NEED TO BE UTILIZED. MCHT CURRENTLY IS IN A STRONG CASH POSITION WITH ALMOST 1,315,000 OF UNRESTRICTED FUNDS AVAILABLE IN SUPPORT OF A CONTINUING BALANCED BUDGET AND PRODUCTIVE DEVELOPMENT EFFORTS. MCHT INCREASED STAFF IN APRIL 2016 BY HIRING STEVE LAURENT, A LAWYER BY TRAINING AND EXPERIENCE, TO ASSIST IN ALL AREAS. MCHT EXPANDED ITS OFFICE SPACE TO ACCOMODATE. FORM 990, PAGE 6, PART VI, LINE 3 THE MANAGEMENT OF DAILY OPERATIONS RELATED TO THE MEADOWVIEW APARTMENTS HAS BEEN DELEGATED TO A MANAGEMENT COMPANY. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS PROVIDED TO EACH BOARD MEMBER FOR REVIEW AND COMMENT PRIOR TO FILING. IN ADDITION, MANAGEMENT REVIEWS THE 990 PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION FOLLOWS THE POLICIES OF THE UTAH NONPROFIT ASSOCIATION CODE OF ETHICS. ONE CODE SPECIFICALLY RELATES TO CONFLICTS OF INTEREST. ALL EMPLOYEES AND BOARD MEMBERS ARE SUBJECT TO THE CONFLICT OF INTEREST POLICY, WHICH REQUIRES THAT ALL ACTUAL, POTENTIAL, OR PERCEIVED CONFLICTS OF INTEREST BE DISCLOSED. THE POLICY REQUIRES THAT BOARD MEMBERS AND STAFF ACT IN THE BEST INTERESTS OF THE ORGANIZATION RATHER THAN ON THE BASIS OF PERSONAL INTERESTS OR THE INTERESTS OF THIRD PARTIES. THE BOARD OF DIRECTORS AND EXECUTIVE DIRECTOR REVIEWS EACH ACTUAL, POTENTIAL, OR PERCEIVED CONFLICT OF INTEREST. THEY WILL DETERMINE WHAT SPECIFIC ACTION IS REQUIRED TO ENSURE THE BEST INTERESTS OF THE ORGANIZATION. IN ADDITION, EACH YEAR THE ORGANIZATION AFFIRMS COMPLIANCE WITH THIS POLICY IN A SIGNED DOCUMENT TO THE UTAH NONPROFIT ASSOCIATION. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION FOR THE EXECUTIVE DIRECTOR AND OTHER EMPLOYEES IS APPROVED BY THE BOARD EACH YEAR WHEN THE BUDGET IS APPROVED. ALL SALARIES AND RAISES ARE GIVEN TO THE BOARD AS PART OF THE BUDGET AND THE ENTIRE BUDGET IS APPROVED BY THE BOARD AFTER DISCUSSION. SALARY COMPARISONS ARE SHARED WITH FOUR OTHER NON-PROFIT ENTITIES IN UTAH IN THE AFFORDABLE HOUSING BUSINESS. THIS DATA IS USED AS A COMPARISON WHEN ESTABLISHING SALARIES. THE BOARD DOCUMENTS APPROVAL OF ALL PAY RATE CHANGES AND MERIT AWARDS. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD OF DIRECTOR REVIEWS AND APPROVES COMPENSATION OF OTHER KEY EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. 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