2018-04-20T09:54:35-05:00 2017-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2017-01-01 411380923 FAMILY HOUSING FUND FAMI 6123759644 310 4TH AVENUE SOUTH NO 9000 MINNEAPOLIS MN 55415 ELLEN K SAHLI PRESIDENT 6123759644 2018-04-16 1 LAWRENCE H MOHR CPA P00447603 6128764500 2017 2022-09-23 18:48:47Z X ELLEN K SAHLI 310 4TH AVENUE SOUTH NO 9000 MINNEAPOLIS MN 55415 5026434 0 X WWW.FHFUND.ORG X 1980 MN TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS. 19 19 9 22 0 0 5408847 656149 1283719 958221 15940 24146 5950 3387918 6714456 5026434 1041959 1508422 0 0 1053642 806748 0 0 60650 6652847 3065805 8748448 5380975 -2033992 -354541 56441651 55160440 21511755 17819609 34929896 37340831 X THE FAMILY HOUSING FUND IS A NONPROFIT INTERMEDIARY ORGANIZATION WHOSE MISSION IS TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS. 0 0 1717745 180000 557770 HOMEOWNERSHIP: THE FUND'S HOME OWNERSHIP PROGRAMS WORK WITH LOCAL GOVERNMENTS, NONPROFIT ORGANIZATIONS, AND THE MORTGAGE INDUSTRY TO HELP LOW AND MODERATE-INCOME FAMILIES BECOME SUCCESSFUL HOMEOWNERS. THE FUND SUPPORTS PROGRAMS TO ASSIST FAMILIES BEFORE THEY PURCHASE THEIR HOMES, AT THE TIME OF PURCHASE, AND AFTER THE FAMILY HAS PURCHASED A HOME.THE HOME PROSPERITY FUND IS ONE OF THE FAMILY HOUSING FUNDS MOST SIGNIFICANT HOME OWNERSHIP PROGRAMS. LAUNCHED IN 2007, THE HOME PROSPERITY FUND WAS CREATED WITH $15 MILLION OF LOANS FOR STRATEGIC ACQUISITION, REHABILITATION AND PROGRAMS TO ASSIST AFFORDABLE, SUSTAINABLE HOME OWNERSHIP. INVESTORS INCLUDE MINNESOTA HOUSING FINANCE AGENCY, MCKNIGHT FOUNDATION, WELLS FARGO BANK, US BANK, POHLAD FOUNDATION AND THRIVENT FOUNDATION.THE FUND INVESTS IN COORDINATING CONSULTANTS FOR ITS TWO NEIGHBORHOOD COLLABORATIONS: THE FROGTOWN RONDO HOME FUND AND NORTHSIDE HOME FUND. THE INDEPENDENT COORDINATING CONSULTANTS HAVE PROVEN HIGHLY EFFECTIVE IN ADDING VALUE TO EXISTING NEIGHBORHOOD, CITY, AND COMMUNITY EFFORTS TO SUPPORT SAFE, VIBRANT, AND SUSTAINABLE COMMUNITIES. 1150026 560000 REGIONAL INITIATIVES: THE FUND IS COMMITTED TO INCREASING REGIONAL SUPPORT FOR AFFORDABLE HOUSING AND WORKS TO EXPAND PUBLIC UNDERSTANDING OF THE VALUE OF AFFORDABLE HOUSING. AND PUBLIC WILL TO PRESERVE AND PRODUCE AFFORDABLE HOUSING IN THE CONTEXT OF A COMPREHENSIVE REGIONAL DEVELOPMENT APPROACH THAT SERVES ALL CITIZENS AND COMMUNITIES.THE FUND HAS SUPPORTED THE URBAN LAND INSTITUTE AND THE REGIONAL COUNCIL OF MAYORS REGIONAL HOUSING INITIATIVES, FINANCED STUDIES AND TOOLS TO SUPPORT THE FEASIBILITY OF MIXED INCOME PROJECTS, AND FUNDED WORK TO IDENTIFY CRITICAL OUTSTANDING ISSUES AND OPPORTUNITIES TO HELP ADVANCE THE UNDERSTANDING OF THE IMPORTANCE OF TRANSIT ORIENTED HOUSING POLICIES AND INVESTMENT DECISIONS AT STATE, LOCAL, AND REGIONAL LEVELS. 797997 196593 348338 RENTAL: THE FUND'S RENTAL HOUSING ACTIVITIES FOCUS ON WORKING WITH PUBLIC AGENCIES, NONPROFIT ORGANIZATIONS, AND PRIVATE DEVELOPERS TO PRESERVE AND EXPAND THE SUPPLY OF AFFORDABLE RENTAL HOUSING IN THE METROPOLITAN AREA. THE FUND SUPPORTS THE DEVELOPMENT OF SEARCH TOOLS TO HELP LOW-INCOME INDIVIDUALS AND FAMILIES FIND AFFORDABLE HOUSING. IN 2017, THE FUND FOCUSED ON EFFORTS TO MAXIMIZE THE BENEFIT OF HOUSING CHOICE VOUCHERS, REDUCE THE NEGATIVE IMPACT OF EVICTION ON FAMILIES AND TO DEVELOP STRATEGIES TO PRESERVE NATURALLY OCCURRING AFFORDABLE HOUSING. 867824 571829 52113 THE FUND CONTINUES TO SERVE AS THE FISCAL SPONSOR FOR SEVERAL INITIATIVES TO END HOMELESSNESS. THE FUND MAINTAINS RESOURCES TO IDENTIFY EMERGING ISSUES THAT AFFECT THE AFFORDABLE HOUSING NETWORK AND TO HELP DEVELOP STRATEGIES TO ADDRESS THESE ISSUES. 867824 571829 52113 4533592 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 34 0 9 1 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X X X WILLIAM MASK 6123759644 310 4TH AVE SOUTH STE 9000 MINNEAPOLIS MN 55415 JIM ROTH CHAIRPERSON 4.00 X X 0 0 0 MAUREEN WARREN CHAIRPERSON THROUGH 4/2017 4.00 X X 0 0 0 KRISTIN BECKMANN VICE PRESIDENT 3.00 X X 0 0 0 SENTA LEFF VICE PRESIDENT 3.00 X X 0 0 0 GEORGE STONE VICE PRESIDENT 3.00 X X 0 0 0 CHARLES HANLEY VICE PRESIDENT & TREASURER 3.00 X X 0 0 0 ANDRIANA ABARIOTES DIRECTOR 2.00 X 0 0 0 JENNIFER ANDERSON DIRECTOR 2.00 X 0 0 0 KAREN J ANDERSON DIRECTOR 2.00 X 0 0 0 NICHOL L BECKSTRAND DIRECTOR 2.00 X 0 0 0 ANDREA BRENNAN DIRECTOR 2.00 X 0 0 0 GAIL DORFMAN DIRECTOR 2.00 X 0 0 0 LISA GOODMAN DIRECTOR 2.00 X 0 0 0 LAURA HELMER DIRECTOR 2.00 X 0 0 0 CRAIG KLAUSING DIRECTOR 2.00 X 0 0 0 PETER LINDSTROM DIRECTOR THROUGH 4/2017 2.00 X 0 0 0 MARGARET LOVEJOY DIRECTOR 2.00 X 0 0 0 REBECCA NOECKER DIRECTOR 2.00 X 0 0 0 JOHN QUINCY DIRECTOR 2.00 X 0 0 0 THOMAS STREITZ DIRECTOR 2.00 X 0 0 0 DAI THAO DIRECTOR 2.00 X 0 0 0 DOUG VAN METRE DIRECTOR 2.00 X 0 0 0 PAUL WILLIAMS DIRECTOR THROUGH 4/2017 2.00 X 0 0 0 ELLEN K SAHLI PRESIDENT 40.00 X 201165 0 37852 WILLIAM MASK DIRECTOR, FINANCE 40.00 X 89799 0 32375 290964 0 70227 1 0 1 0 SALO LLC 20 SOUTH 13TH ST STE 200 MINNEAPOLIS MN 55403 HUMAN RESOURCES CONSULTANT 118250 1 656149 656149 INTEREST-HOUSING LOAN 624200 950830 950830 FEE INCOME 541610 7391 7391 958221 24146 24146 DEBT FORGIVENESS 900099 3363461 3363461 MISCELLANEOUS 624200 24457 24457 3387918 5026434 958221 0 3412064 X 1508422 1508422 361429 198786 144572 18071 341404 187772 136561 17071 23427 12885 9371 1171 37408 20575 14963 1870 43080 23694 17232 2154 75327 52031 23296 35811 35811 72000 72000 660039 382884 269155 8000 92659 50962 37064 4633 109215 60068 43686 5461 39007 2779 36228 435007 435007 514198 507001 6397 800 28371 15604 11348 1419 PROVISION FOR LOAN LOSS 984755 984755 MISCELLANEOUS 19123 18074 1049 REPORTS AND COMMUNICATI 293 293 5380975 4533592 786733 60650 1069878 495304 10888567 13702840 4646511 2054383 56684 222225 37496 43188 447324 17137 12001 430187 39730514 38212313 56441651 55160440 188709 445083 225000 280000 114654 211314 19967747 15852491 1015645 1030721 21511755 17819609 X 29517711 34838869 5412185 2501962 34929896 37340831 56441651 55160440 X -354541 2765476 X 0 1 X 1 0 X X 4 CITY OF ST PAUL 416005521 6 1 0 0 CITY OF MINNEAPOLIS 416005375 6 1 300000 0 METROPOLITAN COUNCIL 416008898 6 1 0 0 MINNESOTA HOUSING FINANCE AGENCY 411599130 6 1 150000 0 4 450000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 PART IV, SECTION B, LINE 2: AS A SUPPORTING ORGANIZATION OF GOVERNMENT, THE FAMILY HOUSING FUND WORKS COLLABORATIVELY WITH MINNESOTA HOUSING, THE METROPOLITAN COUNCIL, AND THE CITIES OF MINNEAPOLIS AND ST. PAUL, SUPPORTING THEIR HOUSING POLICIES AND PROGRAMS AND DELIVERING TESTED SOLUTIONS TO HOUSING CHALLENGES. THE FOUR GOVERNMENT ENTITIES APPOINT FOUR MEMBERS EACH TO THE FAMILY HOUSING FUND BOARD OF DIRECTORS. APPOINTMENTS BY GOVERNMENT PARTNERS RANGE FROM AGENCY LEADERSHIP, TO ELECTED OFFICIALS, TO COMMUNITY MEMBERS. THROUGH THEIR APPOINTED REPRESENTATION, EACH GOVERNMENT AGENCY PARTICIPATES IN GOVERNANCE OF THE FAMILY HOUSING FUND, INCLUDING FINANCIAL OVERSIGHT AND SETTING THE STRATEGIC DIRECTION. THIS INCLUDES THE APPROVAL OF GRANTS BEING AWARDED TO ORGANIZATIONS OTHER THAN THE SUPPORTED ORGANIZATIONS MENTIONED ABOVE. DETAILED DISCUSSIONS DURING BOARD MEETINGS SURROUNDING EACH GRANT AWARD CONSIDERED ENSURES THAT GRANTS AWARDED BY THE FAMILY HOUSING FUND FURTHER THE EXEMPT PURPOSE OF THE FAMILY HOUSING FUND AND ITS SUPPORTED ORGANIZATIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 72000 72000 5248325 5320325 416016 104004 0 0 453231 430537 584188 416016 1883972 2825958 72000 72000 72000 72000 288000 113308 107634 146047 104004 470993 706490 0 0 0 0 259727 259727 187597 17137 170460 430187 NET LOAN RECEIVABLE 38212313 F 38212313 LOAN PAYABLE - HOMESTEPS PROGRAM 195276 LOAN GUARANTY 550000 LOAN PAYABLE - HENNEPIN COUNTY 285445 1030721 X 7791910 2925476 2925476 4866434 160000 160000 5026434 5380975 0 5380975 0 5380975 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE FUND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEY ARE ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE STATE OF MINNESOTA PROVISIONS. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE FUND FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE FUND FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2017 AND 2016. THE FUND'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN FROM DECREASE IN PRESENT VALUE DISCOUNT OF LOANS RECEIVABLE 2,925,476. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS RECEIVED WHICH WERE REFUNDED 160,000. 1 GOODWILLEASTER SEALS NW 5798 PO BOX 1450 MINNEAPOLIS MN 55485 410706171 501(C)(3) 7771 N/A N/A HOMELESSNESS - SERVICE FUNDING HOME OWNERSHIP CENTER 1000 PAYNE AVENUE 200 SAINT PAUL MN 55130 411741817 501(C)(3) 25000 N/A N/A GENERAL OPERATING SUPPORT HOUSING JUSTICE CENTER 570 ASBURY STREET SUITE 104 SAINT PAUL MN 55104 411930525 501(C)(3) 50000 N/A N/A GENERAL OPERATING SUPPORT HOUSINGLINK 275 MARKET STREET SUITE 509 MINNEAPOLIS MN 55405 411873314 501(C)(3) 60000 N/A N/A GENERAL OPERATING SUPPORT JEWISH COMMUNITY ACTION COMMITTEE 2375 UNIVERSITY AVENUE WEST SUITE 150 SAINT PAUL MN 55114 411830619 501(C)(3) 60000 N/A N/A REGIONAL HOUSING PRESERVATION AND PRODUCTION MINNESOTA DEPARTMENT OF EDUCATION 1500 HIGHWAY 36 WEST ROSEVILLE MN 55113 416007162 GOVERNMENT 40000 N/A N/A HOMEOWNER EDUCATION SERVICES MINNESOTA HOUSING FINANCE AGENCY 400 WABASHA STREET NORTH SUITE 400 SAINT PAUL MN 55102 411599130 GOVERNMENT 150000 N/A N/A HOMEOWNER EDUCATION SERVICES MINNESOTA COALITION FOR THE HOMELESS 2233 UNIVERSITY AVENUE WEST SUITE 434 SAINT PAUL MN 55114 411601248 501(C)(3) 10000 N/A N/A PUBLIC EDUCATION GRANT MINNEAPOLIS PUBLIC HOUSING AUTHORITY 1001 WASHINGTON AVENUE MINNEAPOLIS MN 55401 411167709 GOVERNMENT 300000 N/A N/A MOVING TO WORK PROGRAM GRANT NORTHCOUNTRY COOP FOUNDATION 219 MAIN STREET SE SUITE 500 MINNEAPOLIS MN 55414 411953515 501(C)(3) 100000 N/A N/A MANUFACTURED HOMES PLANNING GRANT PROJECT FOR PRIDE IN LIVING 1035 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 237232208 501(C)(3) 51593 N/A N/A GREEN HOMES GRANT SAINT PAUL FOUNDATION 101 FIFTH STREET EAST SUITE 2400 SAINT PAUL MN 55101 416031510 501(C)(3) 429215 N/A N/A FISCAL SPONSOR FUNDS TRANSFER ST STEPHEN'S HUMAN SERVICES 2309 NICOLLET AVENUE SOUTH MINNEAPOLIS MN 55404 010639118 501(C)(3) 40852 N/A N/A HOMELESSNESS - COUNSELOR SERVICE FUNDING TWIN CITIES HABITAT FOR HUMANITY 1954 UNIVERSITY AVENUE WEST SAINT PAUL MN 55104 363363171 501(C)(3) 5000 N/A N/A NORTHSIDE HOME FUND GRANT URBAN HOMEWORKS 2015 EMERSON AVENUE MINNEAPOLIS MN 55411 411821520 501(C)(3) 35000 N/A N/A GENERAL OPERATING SUPPORT URBAN LAND INSTITUTE 81 SOUTH 9TH STREET SUITE 310 MINNEAPOLIS MN 55402 530159845 501(C)(3) 100000 N/A N/A REGIONAL HOUSING PRESERVATION AND PRODUCTION 16 0 PART I, LINE 2: FILES ARE KEPT ON GRANTEES AND GRANTS ARE AWARDED TO ORGANIZATIONS SPONSORING HOUSING BENEFITING LOW TO MODERATE INCOME PERSONS. X 0 0 0 0 0 0 0 0 0 ELLEN K SAHLI PRESIDENT 195979 0 5000 0 186 0 20585 0 17267 0 239017 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF DIRECTORS MAY DESIGNATE AN EXECUTIVE COMMITTEE CONSISTING OF AT LEAST THREE DIRECTORS OF THIS CORPORATION. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, AND THE EXECUTIVE COMMITTEE IS AT ALL TIMES SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS CONSISTS OF 24 MEMBERS, 4 MEMBERS ARE APPOINTED BY THE CITY OF SAINT PAUL (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE CITY OF MINNEAPOLIS (ONE OF WHOM IS A PERSONAL REPRESENTATIVE OF THE MAYOR), 4 BY THE METROPOLITAN COUNCIL AND 4 BY THE MINNESOTA HOUSING FINANCE AGENCY. THE REMAINING 8 MEMBERS ARE APPOINTED BY THE FAMILY HOUSING FUND BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT AND THE FINANCE COMMITTEE. THE FINANCE COMMITTEE CHAIR WILL THEN PRESENT THE FORM 990 TO THE BOARD AT THE NEXT REGULAR MEETING, BEFORE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C FAMILY HOUSING FUND'S CONFLICT OF INTEREST POLICY REQUIRES THAT, PRIOR TO ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A DIRECTOR OR RESPONSIBLE PERSON WHO HAS A CONFLICT OF INTEREST DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN THE BOARD'S DISCUSSION ON THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSONS SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. SUCH DISCLOSURES WILL BE REFLECTED IN THE MINUTES OF THE MEETING. IF IT WAS NOT ENTIRELY CLEAR WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, THEN THE PERSON WITH THE POTENTIAL CONFLICT WILL DISCLOSE THE CIRCUMSTANCES TO THE PRESIDENT, THE CHAIR OR THE CHAIR'S DESIGNEE, WHO SHALL DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST. EACH RESPONSIBLE PARTY IS REQUIRED TO ANNUALLY SUBMIT A DISCLOSURE FORM IDENTIFYING THE BUSINESSES AND NONPROFIT ORGANIZATIONS OF WHICH SUCH RESPONSIBLE PERSON IS A DIRECTOR, OFFICER, EMPLOYEE OR PARTNER OR IN WHICH SUCH PERSON HAS AN OWNERSHIP INTEREST OF FIVE PERCENT OR MORE. THE POLICY IS REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS BASED ON AN EMPLOYMENT CONTRACT. 2017 COMPENSATION WAS BASED ON THE SECOND YEAR OF A TWO YEAR CONTRACT NEGOTIATED, AT THE TIME OF THE PRESIDENT'S EMPLOYMENT, BETWEEN A SEARCH COMMITTEE COMPOSED OF INDEPENDENT MEMBERS OF THE BOARD AND THE PRESIDENT AND APPROVED BY THE BOARD. COMPENSATION FOR KEY EMPLOYEES IS BASED ON JOB DESCRIPTIONS AND PERFORMANCE REVIEWS. THE PRESIDENT SETS COMPENSATION LEVELS WHICH ARE APPROVED BY THE BOARD AS PART OF THE ANNUAL BUDGET. APPROPRIATE COMPARABILITY DATA IS USED PERIODICALLY BUT NOT ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THESE DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 11,046. MANAGEMENT AND GENERAL EXPENSES 24,092. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 35,138. CONSULTING FEES: PROGRAM SERVICE EXPENSES 371,838. MANAGEMENT AND GENERAL EXPENSES 245,063. FUNDRAISING EXPENSES 8,000. TOTAL EXPENSES 624,901. FORM 990, PART XI, LINE 9: GAIN FROM DECREASE IN PRESENT VALUE DISCOUNT OF LOANS RECEIVABLE 2,925,476. GRANTS RECEIVED WHICH WERE REFUNDED -160,000.