2017-04-26T16:14:33-05:00 2016-12-31 390859910 Baker Tilly Virchow Krause LLP 225 S 6th St 2300 Minneapolis MN 55402 990 2016-01-01 411380923 Family Housing Fund FAMI 6123759644 801 Nicollet Mall No 1825 Minneapolis MN 55402 Ellen K Sahli President 6123759644 2017-04-21 1 Lawrence H Mohr CPA P00447603 6128764500 38.88.188.75 2017-04-21 14:46:00 CD P 8E7B4B2323D592AC89F362C47B54D669E291C402 167182DFA60A41E45EAE2F4EF9C72CA9A698CA21 2016 2021-01-29 14:40:06Z Ellen K Sahli 801 Nicollet Mall No 1825 Minneapolis MN 55402 6714456 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. 18 18 11 19 0 0 1110378 5408847 706393 1283719 773025 15940 3001 5950 2592797 6714456 1274354 1041959 0 0 1220403 1053642 0 0 64681 3190207 6652847 5684964 8748448 -3092167 -2033992 60148646 56441651 23898401 21511755 36250245 34929896 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 1 5578166 326230 665097 HOMEOWNERSHIP: THE FUND PROVIDES FINANCING TO HELP PRESERVE AND PRODUCE AFFORDABLE HOUSING OPPORTUNITIES FOR LOWER INCOME HOMEOWNERS. IT ALIGNS THESE EFFORTS TO IMPROVE THE QUALITY OF LIFE IN NEIGHBORHOODS, COMMUNITIES, AND THE METROPOLITAN REGION. IN 2016, FOUR LOW INCOME HOUSEHOLDS BOUGHT HOMES THROUGH PROGRAMS THAT ARE SUPPORTED BY THE FAMILY HOUSING FUND'S (THE FHFUND'S) HOME PROSPERITY FUND (HPF), HELPING TO STABILIZE NEIGHBORHOODS BY MAKING HOMEOWNERSHIP ACCESSIBLE AND SUSTAINABLE TO LOWER INCOME FAMILIES. THE HPF DEVELOPMENT PARTNERS REHABILITATED NINE PROPERTIES.THE FHFUND 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. 447160 92290 161189 SUPPORTIVE HOUSING: THE FUND PROVIDES FINANCING TO HELP PRESERVE AND PRODUCE AFFORDABLE HOUSING OPPORTUNITIES FOR LOWER INCOME RENTERS WHO HAVE EXPERIENCED HOMELESSNESS AND THAT NEED SUPPORTIVE SERVICES IN ADDITION TO HOUSING. IT ALIGNS THESE EFFORTS TO IMPROVE THE QUALITY OF LIFE IN NEIGHBORHOODS, COMMUNITIES, AND THE METROPOLITAN REGION. THE FUND WORKS WITH PARTNERS TO IMPLEMENT THE STATEWIDE PLAN HEADING HOME: MINNESOTA'S PLAN TO PREVENT AND END HOMELESSNESS. THE FUND PARTICIPATES ON SEVERAL LEVELS: PROVIDING FISCAL MANAGEMENT TO THE HEADING HOME MINNESOTA PARTNERS FUND AND FUNDERS COLLABORATIVE AND HENNEPIN COUNTY STABLE FAMILIES INITIATIVE, AND PROVIDING EXPERTISE AND LEADERSHIP ON VARIOUS HENNEPIN COUNTY COMMITTEES THAT AIM TO END HOMELESSNESS. FOR THE PAST TEN YEARS, THE FAMILY HOUSING FUND HAS ADDRESSED THE EFFECTS OF HOMELESSNESS OF CHILDREN THROUGH ITS VISIBLE CHILD INITIATIVE (VCI). VCI OFFERS PROFESSIONAL TRAININGS AND PROVIDES SHELTERS AND FRONT LINE STAFF WITH THE NECESSARY TOOLS AND RESOURCES TO ADDRESS THE NEEDS OF FAMILIES AND YOUNG CHILDREN WHO HAVE EXPERIENCED THE TRAUMA OF HOMELESSNESS. THE VCI TRAINED 600 FRONT LINE STAFF FROM 45 DIFFERENT ORGANIZATIONS IN 2016 TO IDENTIFY NEEDS AND PROVIDE SERVICES FOR HOMELESS FAMILIES, WITH THE GOAL OF PROMOTING HEALTHY CHILD DEVELOPMENT AND FAMILY WELLBEING. 1115755 526000 412039 RENTAL: THE FUND PROVIDES FINANCING TO HELP PRESERVE AND PRODUCE AFFORDABLE HOUSING OPPORTUNITIES FOR LOWER INCOME RENTERS. IT ALIGNS THESE EFFORTS TO IMPROVE THE QUALITY OF LIFE IN NEIGHBORHOODS, COMMUNITIES, AND THE METROPOLITAN REGION. THE CONSOLIDATED REQUEST FOR PROPOSALS (RFP), HOSTED BY MINNESOTA HOUSING, COORDINATES AND ALIGNS PUBLIC AND PHILANTHROPIC CAPITAL SELECTED THROUGH THE RFP PROCESS, WHICH WILL PRODUCE AND/OR PRESERVE SUPPORT FOR AFFORDABLE HOUSING THROUGH A SINGLE APPLICATION PROCESS. IN 2016, THE FUND CLOSED ON $227,000 IN DEFERRED LOANS TO CREATE 39 UNITS OF AFFORDABLE RENTAL HOUSING. SINCE 2007, THE FUND HAS PARTNERED WITH URBAN LAND INSTITUTE (ULI) -MINNESOTA AND THE REGIONAL COUNCIL OF MAYORS (RCM) ON THE HOUSING INITIATIVE, AN EFFORT TO INCREASE THE PRESERVATION AND PRODUCTION OF A FULL RANGE OF HOUSING CHOICES THROUGHOUT THE REGION AND TO IMPROVE LINKS BETWEEN HOUSING AND REGIONAL GROWTH AND SYSTEMS. 644154 97439 45394 PUBLIC EDUCATION: THE FUND CONTINUES 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. 644154 97439 45394 7785235 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 44 0 11 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X X William Mask 6123759644 801 Nicollet Mall Ste 1825 Minneapolis MN 55402 Maureen Warren Chairperson 4.00 X X 0 0 0 Charles Hanley Vice President & Treasurer 3.00 X X 0 0 0 Karen J Anderson Vice President 3.00 X X 0 0 0 Paul Williams Vice President 3.00 X X 0 0 0 Andriana Abariotes Director 2.00 X 0 0 0 Kristin Beckmann Director 2.00 X 0 0 0 Andrea Brennan 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 Senta Leff Director 2.00 X 0 0 0 Peter Lindstrom Director 2.00 X 0 0 0 Margaret Lovejoy Director 2.00 X 0 0 0 Rebecca Noecker Director 2.00 X 0 0 0 Carolyn E Olson Director 2.00 X 0 0 0 John Quincy Director 2.00 X 0 0 0 Jim Roth Director 2.00 X 0 0 0 George Stone 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 Ellen K Sahli President 40.00 X 195227 0 34318 William Mask Director, Finance 40.00 X 87105 0 32694 282332 0 67012 1 0 1 0 Eric Grumdahl 224 W 27th St Minneapolis MN 55408 Consultant on Veteran Homelessness 157879 1 5408847 5408847 Interest-housing loan 624200 1231213 1231213 Fee Income 541610 52506 52506 1283719 15940 15940 Miscellaneous 624200 5950 5950 5950 6714456 1283719 0 21890 1041959 1041959 344344 137738 189389 17217 533861 213543 293624 26694 46367 18547 25502 2318 72592 29037 39925 3630 56478 22591 31063 2824 77997 60134 17863 47326 47326 72000 72000 852911 757948 89698 5265 66831 66831 104213 41685 57317 5211 22378 229 22149 479755 479755 507505 501806 5224 475 20947 8379 11521 1047 Provision for loan loss 4311676 4311676 MISCELLANEOUS 89308 88208 1100 8748448 7785235 898532 64681 897049 1069878 6488357 10888567 2550000 4646511 18368 56684 35432 37496 126483 114482 21499 12001 50137941 39730514 60148646 56441651 133095 188709 5000 225000 22619777 19967747 1140529 1130299 23898401 21511755 X 14767082 29517711 21483163 5412185 36250245 34929896 60148646 56441651 X -2033992 713643 X X 0 1 X 1 0 X X 4 City of St Paul 416005521 6 1 0 0 City of Minneapolis 416005375 6 1 0 0 Metropolitan council 416008898 6 1 0 0 Minnesota Housing Finance Agency 411599130 6 1 150000 0 4 150000 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 72000 72000 8611767 8683767 584188 146047 0 0 548544 453231 430537 584188 2016500 3024750 60000 72000 72000 72000 276000 137136 113308 107634 146047 504125 756188 0 0 0 0 126483 114482 12001 12001 Net Loan Receivable 39730514 F 39730514 Other Liabilities 580299 Loan Guaranty 550000 1130299 X 7428099 713643 713643 6714456 0 6714456 8748448 0 8748448 0 8748448 Part X, Line 2: The Fund follows the accounting standards for contingencies in evaluating uncertain tax positions. This guidance prescribes recognition thresholds 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, 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 713,643. 1 Amherst H Wilder Foundation 410693889 501(c)(3) 32250 0 N/A N/A Homelessness - Data Collection Corporation for Supportive Housing 133600232 501(c)(3) 29590 0 N/A N/A Homelessness - Service Funding Greater Minnesota Housing Fund 411836919 501(c)(3) 25000 0 N/A N/A Stewardship Council Grant Home Ownership Center 411741817 501(c)(3) 25000 0 N/A N/A General Operating Support Housing Justice Center 411930525 501(c)(3) 100000 0 N/A N/A General Operating Support HousingLink 411873314 501(c)(3) 50000 0 N/A N/A General Operating Support Lutheran Social Service of MN 410872993 501(c)(3) 6000 0 N/A N/A Financial Literacy Grant Minnesota Housing Finance Agency 411599130 501(c)(3) 300000 0 N/A N/A Homeowner Education Services Minnesota Housing Partnership 411649643 501(c)(3) 11000 0 N/A N/A Homeowner Education Services Minnesota Coalition for the Homeless 411601248 501(c)(3) 11753 0 N/A N/A Public Education Grant Project For Pride in Living 237232208 501(c)(3) 150000 0 N/A N/A Green Homes Grant Prospect Park 2020 Inc 462407182 501(c)(3) 10000 0 N/A N/A Support of Regional Programs Simpson Housing Services 411316151 501(c)(3) 38000 0 N/A N/A Human Service Planning Grant St Stephen's Human Services 010639118 501(c)(3) 25000 0 N/A N/A Veterans Homelessness - Service Funding Univ of MN Foundation for Real Estate 274131769 501(c)(3) 10000 0 N/A N/A Support of Regional Programs Urban Land Institute 530159845 501(c)(3) 150000 0 N/A N/A Regional Housing Preservation and Production 18 0 Part I, Line 2: Files are kept on grantees and grants are awarded to low and moderate income persons or organizations sponsoring housing. X 0 1 X X 0 0 0 0 0 0 0 0 0 Ellen K Sahli President 195227 0 0 0 0 0 16250 0 18068 0 229545 0 0 0 Part I, Line 1a The president was allowed reimbursement of up to $3000 of personal travel expense in 2016, to accommodate trips back and forth while her family was still living in Chicago. These expenses were reimbursed through payroll, but grossed up to allow for taxes. Tax deductible moving expenses were also reimbursed, through payroll and without being grossed up. Part I, Line 1b This reimbursement was agreed upon in the President's contract. There is no written policy on this type of reimbursement. Form 990, Schedule J, Line 3: The Board formed a search committee and utilized an Executive Search Company to aid in the selection of candidates for the president position. This Search Firm advised on salary level for the position. The Board approved the final salary and benefits package offered to the candidate. Form 990, Part III, line 3 FOR THE PAST TEN YEARS, THE MULTI-FACETED VISIBLE CHILD INITIATIVE HAS WORKED TO END HOMELESSNESS BY ELEVATING AN UNDERSTANDING OF THE NEEDS AND STATUS OF CHILDREN WHO HAVE KNOWN HOMELESSNESS IN ORDER TO INVEST IN THEIR HEALTHY DEVELOPMENT AND ACADEMIC SUCCESS. DURING 2016, THE VISIBLE CHILD INITIATIVE WAS DISCONTINUED DUE TO A LACK OF FUNDING. Form 990, Part VI, Section A, line 1 THE BOARD OF DIRECTORS MAY DESIGNATE AN EXECUTIVE COMMITTEE CONSISTING OF AT LEASE 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 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 REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE, WITH THE BOARD BEING INFORMED OF THE APPROVAL AFTER. THIS WAS LAST DONE IN 2014 FOR 2014 COMPENSATION. COMPENSATION FOR KEY EMPLOYEES IS BASED ON JOB DESCRIPTION AND PERFORMANCE REVIEWS. THE PRESIDENT LOOKS AT THESE AND SETS COMPENSATION WHICH IS APPROVED BY THE BOARD AS PART OF THE ANNUAL BUDGET. 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 XI, line 9: Gain from decrease in present value discount of loans receivable 713,643. Form 990, Part XII, Line 2c: NEITHER THE OVERSIGHT PROCESS OF THE AUDIT OR SELECTION PROCESS OF THE INDEPENDENT ACCOUNTANT CHANGED DURING THE TAX YEAR.