2015-09-08T16:23:57-05:00 2015-03-31 460952065 SHAW & CO PC 1564 SOUTH 500 WEST SUITE 201 BOUNTIFUL UT 840107400 990 2014-04-01 870514438 MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION MOUN 4356479719 1960 SIDEWINDER DRIVE ROOM/SUITE 107 PARK CITY UT 840607448 SCOTT LOOMIS EXECUTIVE DIRECTOR 4356479719 2015-08-31 true JUSTIN R SHAW CPA CFE CGMA P00081558 8012943155 2015-09-08 2014 2016-04-25 22:37:26Z SCOTT LOOMIS 1960 SIDEWINDER DRIVE 107 PARK CITY UT 840607448 1772732 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. 12 12 9 0 884721 1003026 393089 466210 48848 23496 90958 0 1417616 1492732 108158 117893 0 564590 656933 0 8920 366242 402965 1038990 1177791 378626 314941 6055109 8330616 2274862 4235428 3780247 4095188 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 1102222 117893 DURING THE FISCAL YEAR ENDING MARCH 31, 2015, MOUNTAINLANDS COMMUNITY HOUSING TRUST (MCHT) COMPLETED 10 HOMES IN FRANCIS BRINGING THE TOTAL HOMES COMPLETED SINCE 2002 TO 162. THESE HOMES WERE COMPLETED UNDER MCHT'S SELF HELP PROGRAM WITH A RURAL DEVELOPMENT GRANT. SEVEN ADDITIONAL SELF HELP HOMES WERE STARTED SO, FOR THE FIRST TIME, MCHT HAD TWO SELF HELP GROUPS UNDER CONSTRUCTION AT THE SAME TIME. DURING THE FISCAL YEAR MCHT PURCHASED A TOTAL OF 43 LOTS IN RIVER BLUFFS SUBDIVISION TO BE UTILIZED IN THE SELF HELP PROGRAM. SEVENTEEN OF THE LOTS WERE CONVEYED LEAVING 26 IN INVENTORY. MCHT ALSO STARTED CONSTRUCTION ON TWO RESTRICTED HOMES THAT WILL USE THE COMMUNITY LAND TRUST MODEL ON LOTS THAT WERE DONATED BY THE DEVELOPER OF RIVER BLUFFS SUBDIVISION IN FY 2015. MCHT WAS AWARDED LOW INCOME HOUSING TAX CREDITS FOR ITS RICHER PLACE APARTMENTS 28 UNITY PROJECT IN KIMBALL JUNCTION AND IS WORKING ITS WAY THROUGH DUE DILIGENCE WITH THE TAX CREDIT INVESTOR. MCHT COMPLETED ITS THIRD YEAR OF ITS CORNERSTONE HOMEOWNERSHIP OPPORTUNITY PROGRAM (CHIP) AND RECEIVED GRANTS TOTALING 130,000. IT WAS AWARDED A FOURTH YEAR GRANT OF 135,000. MCHT'S SUMMIT COUNTY CONTRACT OF 50,000 WAS RENEWED AND THE SERVICE AGREEMENT WITH PARK CITY MUNICIPAL CORPORATION WAS INCREASED TO 20,000. TWO TRANSITIONAL HOUSING GRANTS WITH HUD WERE RENEWED SO MCHT WILL CONTINUE TO OPERATE 11 UNITS UNDER THIS PROGRAM. ELMBRIDGE APARTMENTS COMPLETED ITS FIRST FULL YEAR OF OPERATIONS AND HAS EXCEEDED CASH FLOW PROJECTIONS. IN ADDITION TO PAYING DOWN THE DEFERRED DEVELOPMENT FEE AND ARREARAGE, THE MAXIMUM INCENTIVE MANAGEMENT FEE OF APPROXIMATELY 70,000 WAS PAID. ALTHOUGH LINES OF CREDIT HAVE BEEN NECESSARY TO FUND OPERATIONS FROM TIME- TO-TIME OPERATING RESERVES AND THE DEVELPMENT RESERVE ACCOUNTS WERE INCREASED THIS PAST YEAR. 1102222 true true false false false false false false false false true false false true true false false true false false false false false false false false false false true true false false false false false false false false true false false false true true false false false true 42 0 9 true false false false false false false false false false false X 12 12 false true false false false false false true true false false true true true true true true true true false UT X X X BRUCE CRANE 4356479719 1960 SIDEWINDER DR 107 PARK CITY UT 840607448 MONIKA GUENDNER SECRETARY 1.00 X 0 0 0 AMELIA HALL BOARD MEMBER 1.00 X 0 0 0 ANNETTE SNEED BOARD MEMBER 1.00 X 0 0 0 STEWART BATES BOARD MEMBER 1.00 X 0 0 0 ROBERT HARTER BOARD MEMBER 1.00 X 0 0 0 ERIN O'KEEFE BOARD MEMBER 1.00 X 0 0 0 BOB WELLS PRESIDENT 1.00 X 0 0 0 BOB RICHER VICE PRESIDE 1.00 X 0 0 0 JEFF BRADSHAW BOARD MEMBER 1.00 X 0 0 0 ALEXIS BROWN BOARD MEMBER 1.00 X 0 0 0 RYAN HOFFMAN BOARD MEMBER 1.00 X 0 0 0 GUILLERMO ZELAYA TREASURER 1.00 X 0 0 0 SCOTT LOOMIS EX. DIRECTOR 40.00 X 141620 0 19096 141620 19096 1 false true false 703797 299229 155320 1003026 MANAGEMENT FEES 196988 196988 MEADOWVIEW APARTMENTS RENT 190141 190141 WASHINGTON MILL RENT 76681 76681 LAND LEASE 2400 2400 466210 48271 48271 255225 280000 -24775 -24775 -24775 1492732 441435 48271 117893 117893 160716 146318 12721 1677 396156 360688 31835 3633 52440 47721 3681 1038 47621 42841 3879 901 1455 1455 22657 21891 547 219 16222 10918 5013 291 82337 79044 2415 878 9664 9042 586 36 48473 46860 1613 70153 70153 2912 2912 REPAIRS 50853 50853 REPAIRS 21120 21120 SALARIES 20447 20447 SELF HELP TOOLS 20183 20183 36489 34795 1447 247 1177791 1102222 66649 8920 430845 554664 208939 180150 210000 14405 14791 1313814 1468570 3942228 477963 3654603 3464265 222503 2648176 6055109 8330616 55003 85566 1657803 1613992 562056 2535870 2274862 4235428 X 3522861 3851567 257386 243621 3780247 4095188 6055109 8330616 314941 X false true X true true true X 796587 740761 1509350 884721 1003026 4934445 796587 740761 1509350 884721 1003026 4934445 365465 4568980 8512 7722 7693 50798 48271 122996 5057441 1068235 0.90340 0.90150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2403380 2403380 1343851 423428 920423 194997 54535 140462 3464265 INVESTMENT IN LAND - SELF-HELP 1590291 DEVELOPMENTS IN PROGRESS 1015004 MEADOWVIEW OTHER ASSETS 29828 OTHER CURRENT ASSETS 13053 OTHER ASSETS 2648176 INVESTMENTS IN LAND LOANS 1543965 SHOP CONSTRUCTION LOANS 337500 CONSTRUCTION LOANS 290799 SELF-HELP PARTICIPANT RESTRICTED 240606 DEFERRED REVENUE - SELF-HELP SALES 123000 LINE OF CREDIT 2535870 1492732 1492732 1492732 1177791 1177791 1177791 false TRANSITIONAL HOUSING 55 117893 false false false false false false false false false SCOTT LOOMIS EX. DIRECTOR 141620 19096 160716 X 1 14933 QUOTED MARKET PRICES X 1 140000 ESTIMATED FAIR MARKET VAL X 1 387 ESTIMATED FAIR MARKET VAL false false false 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 RIVER BLUFFS SUBDIVISION IN FY 2015. MCHT WAS AWARDED LOW INCOME HOUSING TAX CREDITS FOR ITS RICHER PLACE APARTMENTS 28 UNITY PROJECT IN KIMBALL JUNCTION AND IS WORKING ITS WAY THROUGH DUE DILIGENCE WITH THE TAX CREDIT INVESTOR. MCHT COMPLETED ITS THIRD YEAR OF ITS CORNERSTONE HOMEOWNERSHIP OPPORTUNITY PROGRAM (CHIP) AND RECEIVED GRANTS TOTALING 130,000. IT WAS AWARDED A FOURTH YEAR GRANT OF 135,000. MCHT'S SUMMIT COUNTY CONTRACT OF 50,000 WAS RENEWED AND THE SERVICE AGREEMENT WITH PARK CITY MUNICIPAL CORPORATION WAS INCREASED TO 20,000. TWO TRANSITIONAL HOUSING GRANTS WITH HUD WERE RENEWED SO MCHT WILL CONTINUE TO OPERATE 11 UNITS UNDER THIS PROGRAM. ELMBRIDGE APARTMENTS COMPLETED ITS FIRST FULL YEAR OF OPERATIONS AND HAS EXCEEDED CASH FLOW PROJECTIONS. IN ADDITION TO PAYING DOWN THE DEFERRED DEVELOPMENT FEE AND ARREARAGE, THE MAXIMUM INCENTIVE MANAGEMENT FEE OF APPROXIMATELY 70,000 WAS PAID. ALTHOUGH LINES OF CREDIT HAVE BEEN NECESSARY TO FUND OPERATIONS FROM TIME- TO-TIME OPERATING RESERVES AND THE DEVELPMENT RESERVE ACCOUNTS WERE INCREASED THIS PAST YEAR. 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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