The Housing Company
The Housing Company
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About this organization
Mission
To develop, acquire, and operate (including management) real estate for elderly, disadvantaged, and limited-income persons.
About
The Housing Company (Housing) was incorporated in Idaho on August 2, 1990. Housing was formed to develop, acquire and operate real estate for the benefit of elderly, disadvantaged, limited-income or otherwise needy persons throughout the State of Idaho. As of December 31, 2018, Housing had acquired and was operating fifteen multifamily housing complexes; had constructed and was operating fifteen multifamily housing complexes; had constructed two additional phases of housing to existing developments; had completed renovation of a hotel and turned it into a new multifamily complex; had built a single family home known as The Cottage with HOME funds; had purchased land in Coeur d'Alene and Montpelier for the purpose of developing and selling workforce housing units; (Continued on Schedule O)had purchased a single family home in Canyon County with federal NSP funds and turned it into special needs housing as intended by the program; had purchased three duplexes in Canyon County with federal NSP funds to rent as affordable housing; had constructed and sold three homes in Nez Perce with HOME funds; had completed construction on three duplexes in Kuna with HOME and Housing Trust Fund moneys and started the renovation of a hotel to turn into a new multifamily complex in Idaho Falls. In addition, Housing is processing and paying vendor invoices for a condo project, Valley Center Townhomes, owned by IHFA. IHFA reimburses Housing for net amounts paid and received or Housing pays IHFA if the amount of income received exceeds expenses paid on a quarterly basis. Housing receives $200 management fees per month for managing Valley Center Townhomes.Housing was given the management responsibility of leasing and managing some 12 single family homes (REO) that are owned and were foreclosed upon by IHFA. IHFA reimburses Housing for the amounts paid for the homes net income received or Housing repays IHFA if the income received is greater than the expenses paid. Housing receives $100 management fee per month for each REO home managed. Housing manages five Pacific Company tax credit properties and receives management fee income, but Housing has no ownership in these projects.Housing entered into an agreement with West Central Mountains Housing Trust, Inc. for the management of 4 HOME funded rental houses located in Donnelly. Housing receives management fee income, but Housing has no ownership in these projects.Housing entered into an agreement with North Idaho Housing Coalition as the Agent for the program of compliance only. Housing receives management fee income, but Housing has no ownership in these projects nor performs physical property management of these projects.Housing entered into an agreement with Bonner Community Housing Agency as the Agent for the program of compliance only. Housing receives management fee income, but Housing has no ownership in these projects nor performs physical property management of these projects.Housing entered into an agreement with ARCH Community Housing Trust as the Agent for the program of compliance and rent collection only. Housing receives management fee income, but Housing has no ownership in these projects nor performs physical property management of these projects.
Interesting data from their 2020 990 filing
According to the filing, the non-profit's mission is “The housing company was formed to address the concern of an inadequate supply of affordable, decent rental housing within the state of idaho and other similar areas of need. housing was created to encourage the development, management and preservation of permanently affordable rental housing for elderly, disadvantaged, low-income or otherwise needy persons. housing intends to acquire existing low-income housing projects, making them perpetually affordable, and to encourage the development of new affordable housing projects. housing expects that the occupants of new housing projects may also include a limited number of persons of moderate or higher incomes to encourage economically integrated housing as a means of preventing community deterioration. housing intends to pursue partnerships with other affordable housing organizations, if appropriate, as a means of achieving its objectives.”.
When referring to its actions, they were described as: “To develop, acquire, and operate (including management) real estate for elderly, disadvantaged, and limited-income persons.”.
- According to the law, the state of operation reported by the non-profit is ID.
- As per the filing, the address of the non-profit for 2020 is PO Box 6943, Boise, ID, 83707.
- According to their form, the non-profit as of 2020 has a total of 78 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $1,034,967.
- The organization has 6 independent voting members.
- The organization was formed in 1990.
- The organization pays $2,282,838 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.