Threshold Housing Development Inc.
Threshold Housing Development Inc.
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About this organization
Mission
To acquire, develop, maintain and manage real and personal property
About
Threshold Housing Development's (THD) purpose is to acquire, develop, hold, operate, maintain, and manage real and personal property.THD's mission is to develop, promote, encourage or enhance the level of self-sufficiency of low income, disabled, or elderly individuals and families through developing affordable, efficient housing units, for both rental and ownership by low income families or individuals. Threshold accomplishes its mission through various methods. For over the past 10 years THD has successfully managed a Self Help Housing program. The purpose of this program is to assist local low income families to build their own homes. These are two year grants. THD assists 6 families each year. The lots are provided to the families at no cost from THD through receipt of other grants. Mortgage funds are provided by USDA over 33 years and with interest rates as low as one percent depending on their income. All families have incomes at 80% of median income or below.Additional new construction is completed by THD through the use of DCED HOME grants. The most recent example of this is Stone Church Estates , a 23 lot mixed income subdivision. THD used a $500,000 DCED HOME grant, a $120,000 bank loan and $80,000 in Act 137 funds to purchase and develop a 19 acre piece of property into 23 building lots. 18 of these lots were deeded to low and very low income self help families (as described above). The remaining five lots were used to build 5 homes for sale to local families. THD developed two similar subdivisions in Crucible, Greene County.THD also creates affordable housing through purchase, rehab, and resale of single family homes. THD has produced this type of housing using various types of funding. The most recent project is the Washington Homeownership Program. THD uses HOME funds from the Washington County Redevelopment Authority to purchase, rehab, and resale single family homes to local low income families. THD purchases aging and vacant homes, brings them into code compliance and provides down-payment and closing cost assistance to low income buyers. Typically the assistance is 17% of sale price plus closing costs. The families need to provide only 3% plus qualify for an 80% mortgage. They are all first time homebuyers and have incomes at 80% of median income or below. THD has run similar programs over the years in Fayette County.THD has also developed rental housing over the years including a 12 unit development for the elderly in Charleroi, a 5 unit family project in Washington, Pa, and a 5 unit family project in Uniontown.In total THD has created in excess of 300 units of affordable housing since its creation in September of 1991.
Interesting data from their 2019 990 filing
The filing outlines the non-profit's goal as “Threshold's mission is to develop, promote, encourage, or enhance the level of self-sufficiency of low income, disabled, or elderly individuals and families through developing affordable, efficient housing units for both rental and ownership by low-income individuals and families.”.
When explaining its purpose, the activities were outlined as: “To acquire, develop, maintain and manage real and personal property”.
- As per legal reporting requirements, the state of operation for the non-profit is PA.
- The non-profit's address for 2019 is listed as 55 N BEESON AVE, UNIONTOWN, PA, 15401 in the filing.
- As per the non-profit's form, they have 3 employees as of 2019.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $200,358.
- The organization has 12 independent voting members.
- The organization was formed in 1991.
- The organization pays $248,724 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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