2013-07-24T13:26:14-05:00 2013-03-31 SHAW & CO PC 1564 SOUTH 500 WEST SUITE 201 BOUNTIFUL UT 840107400 990 2012-04-01 870514438 MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION MOUN 4356479719 1960 SIDEWINDER DRIVE ROOM/SUITE 107 PARK CITY UT 840607448 SCOTT LOOMIS 4356479719 2013-07-17 true JUSTIN R SHAW CPA CFE 8012943155 2013-07-24 2012 2016-02-24 21:20:13Z SCOTT LOOMIS 1960 SIDEWINDER DRIVE 107 PARK CITY UT 840607448 2759318 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. 10 10 8 45 0 740761 1509350 307921 1132375 7722 7693 -129936 -78369 926468 2571049 102415 101614 0 378679 480869 0 4863 306937 347507 788031 929990 138437 1641059 4404320 5700714 2643758 2299093 1760562 3401621 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 876627 101614 DURING THE FISCAL YEAR ENDING MARCH 31, 2013, MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION (MCHA) COMPLETED 10 HOMES IN KAMAS BRINGING THE TOTAL HOMES COMPLETED TO 145 SINCE 2002. THESE HOMES WERE COMPLETED UNDER MCHA'S SELF HELP PROGRAM. MCHA RECEIVED FUNDING FOR SELF HELP FROM A RURAL DEVELOPMENT 523 GRANT WHICH IS ANTICIPATED TO BE RENEWED FOR TWO YEARS IN THE NEXT FISCAL YEAR. MCHA ALSO COMPLETED ELMBRIDGE APARTMENTS, A 76-UNIT COMPLEX IN HEBER AND PRESTIGE SENIOR LIVING CENTER, 23 UNITS FOR SENIORS ALSO IN HEBER. MCHA BOOKED A DEFERRED DEVELOPMENT FEE OF 749,509 FOR ELMBRIDGE APARTMENTS THAT WILL BE PAID FROM FINAL FUNDING AND FUTURE CASH FLOW. THIS BRINGS THE TOTAL NUMBER OF RENTAL UNITS UNDER MCHA'S STEWARDSHIP TO 253. DURING THE FISCAL YEAR, MCHA RECEIVED LAND AND WATER SHARES IN ITS WHOLLY-OWNED SUBSIDIARY, MOUNTAINLANDS COMMUNITY LAND TRUST, WHICH WILL BE USED TO DEVELOP 28 APARTMENTS AT THE VILLAGE AT KIMBALL JUNCTION DEVELOPMENT IN SUMMIT COUNTY. MCHA WAS ONE OF TEN ORGANIZATIONS NATIONALLY SELECTED FOR OF A CORNERSTONE HOMEOWNERSHIP OPPORTUNITY PROGRAM ONE YEAR GRANT TOTALING 130,000 STARTING APRIL 1, 2012. IT HAS BEEN RENEWED FOR THE SECOND YEAR. THIS GRANT ALLOWED MCHA TO HIRE ADDITIONAL EMPLOYEES, CREATE AN OUTREACH PROGRAM, REVISE ITS WEBSITE, EXPAND ITS STEWARDSHIP ACTIVITIES AND PARTICIPATE IN AN URBAN INSTITUTE STUDY TO DETERMINE THE LONG-TERM EFFECTS OF SUBSIDIZED HOMEOWNERSHIP PROGRAMS. A LOW INTEREST (1%) LOAN WAS OBTAINED FROM OLENE WALKER HOUSING LOAN FUND TO PROVIDE CAPITAL IMPROVEMENTS TO MEADOW VIEW APARTMENTS. ALL APARTMENTS CONTINUE TO MAINTAIN HIGH OCCUPANCY AND MEET ANTICIPATED RETURNS TO MCHA. MCHA'S LINES OF CREDIT WERE PAID TO ZERO BY YEAR END AND MCHA'S NET ASSETS ALMOST DOUBLED DURING THE FISCAL YEAR. OTHER THAN THE ABOVE, MCHA CONTINUED TO RECEIVE FUNDING AND OPERATE ITS TRANSITIONAL HOUSING PROGRAM, HOUSING RESOURCE CENTER AND OTHER ACTIVITIES. ITS CONTRACT WITH SUMMIT COUNTY HAS BEEN RENEWED FOR ANOTHER YEAR. 876627 true true false false false false false false false false true false false false true false false true false false false false false false false false false false true false false false false false false false false false true false false false true true false false false true 31 0 true 8 true false false false false false false false false false false X 10 10 false true false false false false false true true false false true true true true true true true true false UT X X BRUCE CRANE 4356479719 1960 SIDEWINDER DR 107 PARK CITY UT 840607448 MONIKA GUENDNER 1.00 X 0 0 0 JIM HIER 1.00 X 0 0 0 ANNETTE SNEED 1.00 X 0 0 0 GARY MCDONALD 1.00 X 0 0 0 ROBERT HARTER 1.00 X 0 0 0 FREDERICK G TRIPP PHD 1.00 X 0 0 0 BOB WELLS 1.00 X 0 0 0 BOB RICHER 1.00 X 0 0 0 RILEY RISTO 1.00 X 0 0 0 ALEXIS BROWN 1.00 X 0 0 0 SCOTT LOOMIS 40.00 X 91745 0 16942 91745 16942 false false false 546975 962375 861437 1509350 DEVELOPMENT FEES 768198 768198 MEADOWVIEW APARTMENTS RENT 189423 189423 MANAGEMENT FEES 105053 105053 WASHINGTON MILL RENT 65412 65412 LAND LEASE 2400 2400 1889 1889 1132375 7693 7693 109900 188269 -78369 -78369 2571049 1054006 7693 101614 101614 91645 81564 9364 717 294827 277612 15109 2106 58829 53936 4289 604 35568 33693 1502 373 12916 12272 552 92 11333 10587 668 78 76197 72988 2537 672 9315 9310 5 55887 52073 3814 51930 50100 1830 3314 3314 REPAIRS 42606 42606 SALARIES 23920 23920 MANAGEMENT FEES 12465 12465 REPAIRS 12190 12190 35434 29697 5521 216 929990 876627 48500 4863 228723 268194 101072 110375 30000 2462 19898 655354 1389931 15412 13500 4112462 340510 2817931 3771952 2874 550492 126864 4404320 5700714 47807 75655 1646843 1727471 949108 495967 2643758 2299093 X 1760562 3401621 1760562 3401621 4404320 5700714 1641059 X false true X true false X 451082 527152 796587 740761 648300 3163882 451082 527152 796587 740761 648300 3163882 258840 2905042 8544 8473 8512 7722 7693 40944 3204826 2542263 0.90650 0.81220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2593330 2593330 1506714 329685 1177029 12418 10825 1593 3771952 SHOP CONSTRUCTION LOANS 202500 CONSTRUCTION LOANS 144515 DEFERRED REVENUE - SELF-HELP SALES 133000 SELF-HELP PARTICIPANT RESTRICTED 15952 LINE OF CREDIT 495967 2571049 2571049 2571049 929990 929990 929990 false TRANSITIONAL HOUSING 20 101614 X 1 578000 X WATER SHARES 1 283050 X MISCELLANEOUS 1 387 false false false ORGANIZATION'S MISSION 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. FIRST ACCOMPLISHMENT DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4A NUMBER OF RENTAL UNITS UNDER MCHA'S STEWARDSHIP TO 253. DURING THE FISCAL YEAR, MCHA RECEIVED LAND AND WATER SHARES IN ITS WHOLLY-OWNED SUBSIDIARY, MOUNTAINLANDS COMMUNITY LAND TRUST, WHICH WILL BE USED TO DEVELOP 28 APARTMENTS AT THE VILLAGE AT KIMBALL JUNCTION DEVELOPMENT IN SUMMIT COUNTY. MCHA WAS ONE OF TEN ORGANIZATIONS NATIONALLY SELECTED FOR OF A CORNERSTONE HOMEOWNERSHIP OPPORTUNITY PROGRAM ONE YEAR GRANT TOTALING 130,000 STARTING APRIL 1, 2012. IT HAS BEEN RENEWED FOR THE SECOND YEAR. THIS GRANT ALLOWED MCHA TO HIRE ADDITIONAL EMPLOYEES, CREATE AN OUTREACH PROGRAM, REVISE ITS WEBSITE, EXPAND ITS STEWARDSHIP ACTIVITIES AND PARTICIPATE IN AN URBAN INSTITUTE STUDY TO DETERMINE THE LONG-TERM EFFECTS OF SUBSIDIZED HOMEOWNERSHIP PROGRAMS. A LOW INTEREST (1%) LOAN WAS OBTAINED FROM OLENE WALKER HOUSING LOAN FUND TO PROVIDE CAPITAL IMPROVEMENTS TO MEADOW VIEW APARTMENTS. ALL APARTMENTS CONTINUE TO MAINTAIN HIGH OCCUPANCY AND MEET ANTICIPATED RETURNS TO MCHA. MCHA'S LINES OF CREDIT WERE PAID TO ZERO BY YEAR END AND MCHA'S NET ASSETS ALMOST DOUBLED DURING THE FISCAL YEAR. OTHER THAN THE ABOVE, MCHA CONTINUED TO RECEIVE FUNDING AND OPERATE ITS TRANSITIONAL HOUSING PROGRAM, HOUSING RESOURCE CENTER AND OTHER ACTIVITIES. ITS CONTRACT WITH SUMMIT COUNTY HAS BEEN RENEWED FOR ANOTHER YEAR. MANAGEMENT DELEGATED 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. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 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. ENFORCEMENT OF CONFLICTS POLICY 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. COMPENSATION PROCESS FOR TOP OFFICIAL 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. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD OF DIRECTOR REVIEWS AND APPROVES COMPENSATION OF OTHER KEY EMPLOYEES. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION 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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