2011-07-29T07:28:22-05:00 2011-03-31 SHAW MUMFORD & CO PC 1564 SOUTH 500 WEST SUITE 201 BOUNTIFUL UT 840107400 990 2010-04-01 870514438 MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION MOUN 4356479719 1960 SIDEWINDER DRIVE ROOM/SUITE 107 PARK CITY UT 840607448 SCOTT LOOMIS 4356479719 2011-07-21 true JUSTIN R SHAW CPA CFE 8012943155 2011-07-29 2010 2016-02-24 21:20:13Z SCOTT LOOMIS 1960 SIDEWINDER DRIVE 107 PARK CITY UT 840607448 2449337 false X HTTP://WWW.HOUSINGHELP.ORG X 1993 UT MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION IS WORKING TO PRESERVE, PROMOTE, AND EXPAND HOUSING OPPORTUNITIES FOR LOWER-INCOME HOUSEHOLDS IN SUMMIT AND WASATCH COUNTIES. 10 10 10 50 0 527152 796587 324090 294104 -30376 -116926 334 820866 974099 0 0 352711 374212 0 24178 396983 399974 749694 774186 71172 199913 5979937 4689109 4557725 3066984 1422212 1622125 X MOUNTAINLANDS COMMUNITY HOUSING ASSOCIATION IS WORKING TO PRESERVE, PROMOTE, AND EXPAND HOUSING OPPORTUNITIES FOR LOWER-INCOME HOUSEHOLDS IN SUMMIT AND WASATCH COUNTIES. false false 685002 294104 DURING THE FISCAL YEAR ENDING MARCH 31, 2011, THE ORGANIZATION (MCHT) COMPLETED SEVEN SELF HELP HOMES IN KAMAS, UTAH BRINGING THE TOTAL TO 129 NEW HOMES COMPLETED SINCE 2002. IN ADDITION, THE INFRASTRUCTURE FOR VILLAGE OF KAMAS COMMONS, A FOURTEEN-LOT SUBDIVISION WAS COMPLETED. SELF HELP GROUP EIGHT STARTED CONSTRUCTION ON FOUR HOMES (WITH TWO MORE ADDED AFTER THE END OF THE FISCAL YEAR) AT THE VILLAGE OF KAMAS COMMONS. MCHT OBTAINED LOW INCOME HOUSING TAX CREDITS AND OTHER FINANCING FOR THE CONSTRUCTION OF A 76-UNIT APARTMENT COMPLEX, ELMBRIDGE APARTMENTS, IN HEBER CITY, UTAH. THE TOTAL PROJECT WILL HAVE A TOTAL COST OF MORE THAN 10,000,000 AND WILL BE COMPLETED IN SPRING 2012. MCHT ALSO ENTERED INTO A AN AGREEMENT WITH THE WASATCH COUNTY HOUSING AUTHORITY TO CO-DEVELOP A 23- UNIT SENIOR CITIZENS CENTER ALSO IN HEBER CITY. UNDER A DEVELOPMENT AGREMEENT WITH THE TOWN OF FRANCIS, MCHT RECEIVED A DONATION OF FOUR LOTS FROM THE FIRST PHASE OF RIVER BLUFFS SUBDIVISION FROM THE DEVELOPER. TWO MORE LOTS WILL BE DONATED FROM THE SECOND PHASE WHEN COMPLETED. THE LOTS WERE CONTRIBUTED TO MOUNTALANDS COMMUNITY LAND TRUST. MCHT CONTINUED TO OPERATE ITS TRANSITIONAL HOUSING PROGRAM AND RECEIVED RENEWED FUNDING FROM HUD AND UNITED WAY TO CONTINUE THE PROGRAM. MCHT PERFORMED SERVICES FOR SUMMIT COUNTY AND PARK CITY MUNICITY CORPORATION UNDER SERVICE CONTRACTS. THE SUMMIT COUNTY CONTRACT WAS RENEWED DURING THE FISCAL YEAR AND THE CITY CONTRACT SUBSEQUENT TO THE END OF THE FISCAL YEAR. MCHT WAS ABLE TO CLOSE THE SALE OF ALL MARKET RATE HOMES CARRIED OVER FROM THE REAL ESTATE DOWNTURN AND THE REMAINING RECENTLY CONSTRUCTED HOMES IN THE WOODS OF PARLEY'S LANE SUBDIVISION DURING THE FISCAL YEAR. MCHT HAD PREVIOUSLY CREATED MOUNTAINLANDS COMMUNITY HOUSING LOAN FUND LLC THAT WAS CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION BY THE U.S. TREASURY DEPARTMENT. ITS PURPOSE WAS TO PROVIDE SECOND MORTGAGES AND DOWN PAYMENT ASSISTANCE TO LOW TO MODERATE INCOME HOMEBUYERS. BECAUSE OF THE FAILURE TO RECEIVE GRANTS AND LOANS AS WELL AS THE CHANGES IN THE PRIMARY FINANCING MARKETS, THE BOARD OF TRUSTEES OF MCHT DECIDED TO NOT PURSUE THE CDFI LOANS AND GRANTS BUT ELECTED TO KEEP THE LOAN FUND IN PLACE FOR THE TIME BEING. 685002 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 false false false false false false false false false false true false false false false false false false false false true 34 0 true 10 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 MARC F ESTABROOK 1.00 X 0 0 0 JOSIE HAGEN 1.00 X 0 0 0 FRANCISCO MENDOZA 1.00 X 0 0 0 CAROL NICHOLS 1.00 X 0 0 0 BRETT PERETTI 1.00 X 0 0 0 FREDERICK G TRIPP PHD 1.00 X 0 0 0 BOB WELLS 1.00 X 0 0 0 ALISON WEYHER 1.00 X 0 0 0 BOB RICHER 1.00 X 0 0 0 RILEY RISTO 1.00 X 0 0 0 SCOTT LOOMIS 32.00 X 88046 0 17205 88046 17205 false false false 453639 342948 280252 796587 MEADOWVIEW APARTMENTS RENT 186040 186040 MANAGEMENT FEES 90962 90962 DEVELOPMENT FEES 15152 15152 LAND LEASE 1950 1950 294104 8512 8512 1349800 1475238 -125438 -125438 -125438 OTHER INCOME 334 334 334 974099 169000 8512 105251 87515 12046 5690 216521 179649 25507 11365 27901 23454 2714 1733 24539 19888 3178 1473 9200 7360 1288 552 8261 6167 1742 352 70610 62208 5882 2520 2894 2496 304 94 50705 44414 6291 40100 38271 1829 1830 1830 TRANSITIONAL HOUSING 105747 105747 CLEANING / MAINTENANCE 44532 44532 ADMINISTRATIVE EXPENSE 40933 40933 SELF-HELP TOOLS 11060 11060 STAFF DEVELOPMENT 6736 5248 1488 7366 6060 907 399 774186 685002 65006 24178 193053 419477 50234 2112 6999 3185 697167 647835 144000 12000 2547921 255398 2052524 2292523 18733 18733 2874 2817227 1290370 5979937 4689109 57832 45355 62663 1406534 1338478 3030696 1683151 4557725 3066984 X 1422212 1622125 1422212 1622125 5979937 4689109 199913 X false true true X false X 557962 281279 451082 527152 796587 2614062 557962 281279 451082 527152 796587 2614062 563735 2050327 3783 13091 8544 8473 8512 42403 334 334 2656799 1760491 0.77170 0.83180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false false false 1502280 1502280 1033223 247983 785240 12418 7415 5003 2292523 DEVELOPMENTS IN PROGRESS 1264793 OTHER ASSETS 25577 1290370 CONSTRUCTION LOANS 1311186 SELF-HELP PARTICIPANT RESTRICTED 152105 DEFERRED REVENUE - SELF-HELP SALES 149000 LINE OF CREDIT 43422 MEADOWVIEW APTS. OTHER LIAB. 15438 SHOP CONSTRUCTION LOANS 12000 1683151 974099 774186 199913 199913 974099 974099 974099 774186 774186 774186 X 1 280000 X INTERNET SERVIC 1 252 false false false FIRST ACHIEVEMENT DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4A AN AGREEMENT WITH THE WASATCH COUNTY HOUSING AUTHORITY TO CO-DEVELOP A 23- UNIT SENIOR CITIZENS CENTER ALSO IN HEBER CITY. UNDER A DEVELOPMENT AGREMEENT WITH THE TOWN OF FRANCIS, MCHT RECEIVED A DONATION OF FOUR LOTS FROM THE FIRST PHASE OF RIVER BLUFFS SUBDIVISION FROM THE DEVELOPER. TWO MORE LOTS WILL BE DONATED FROM THE SECOND PHASE WHEN COMPLETED. THE LOTS WERE CONTRIBUTED TO MOUNTALANDS COMMUNITY LAND TRUST. MCHT CONTINUED TO OPERATE ITS TRANSITIONAL HOUSING PROGRAM AND RECEIVED RENEWED FUNDING FROM HUD AND UNITED WAY TO CONTINUE THE PROGRAM. MCHT PERFORMED SERVICES FOR SUMMIT COUNTY AND PARK CITY MUNICITY CORPORATION UNDER SERVICE CONTRACTS. THE SUMMIT COUNTY CONTRACT WAS RENEWED DURING THE FISCAL YEAR AND THE CITY CONTRACT SUBSEQUENT TO THE END OF THE FISCAL YEAR. MCHT WAS ABLE TO CLOSE THE SALE OF ALL MARKET RATE HOMES CARRIED OVER FROM THE REAL ESTATE DOWNTURN AND THE REMAINING RECENTLY CONSTRUCTED HOMES IN THE WOODS OF PARLEY'S LANE SUBDIVISION DURING THE FISCAL YEAR. MCHT HAD PREVIOUSLY CREATED MOUNTAINLANDS COMMUNITY HOUSING LOAN FUND LLC THAT WAS CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION BY THE U.S. TREASURY DEPARTMENT. ITS PURPOSE WAS TO PROVIDE SECOND MORTGAGES AND DOWN PAYMENT ASSISTANCE TO LOW TO MODERATE INCOME HOMEBUYERS. BECAUSE OF THE FAILURE TO RECEIVE GRANTS AND LOANS AS WELL AS THE CHANGES IN THE PRIMARY FINANCING MARKETS, THE BOARD OF TRUSTEES OF MCHT DECIDED TO NOT PURSUE THE CDFI LOANS AND GRANTS BUT ELECTED TO KEEP THE LOAN FUND IN PLACE FOR THE TIME BEING. 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.