Purple Heart Homes Inc

PURPLE HEART HOMES, INC. IS DEDICATED TO PROVIDING HOUSING FOR SERVICE- CONNECTED DISABLED VETERANS THAT IS SUBSTANTIAL IN FUNCTION, DESIGN, AND QUALITY, FIT TO WELCOME HOME THE FIGHTING MEN AND WOMEN OF AMERICA.

PROGRAM SERVICE MISSIONS: THE HOUSING NEEDS OF THE APPROVED VETERANS WHICH PURPLE HEART HOMES, INC. ASSISTS ARE OFTEN TIMES URGENT. PURPLE HEART HOMES, INC.'S ABILITY TO ADDRESS THESE NEEDS IN A TIMELY AND EFFECTIVE MANNER DEPENDS HEAVILY ON THE FINANCIAL AND MATERIAL CONTRIBUTONS OF INDIVIDUAL DONORS, FOUNDATIONS, AND BUSINESSES. WHEN THE URGENT HOUSING NEEDS OF APPROVED VETERANS ARE MET, THE VETERANS' QUALITY OF LIFE IMPROVES AS THEY ARE ABLE TO LIVE IN A SAFE AND ACCESSIBLE HOME. FIRST MISSION (VETERAN HOUSING): THE PURPLE HEART HOMES,INC. VETERANS HOME OPPORTUNITY PROGRAM (VHOP) PLACED 1 FINANCIALLY QUALIFIED VETERAN IN A HOME IN 2021. THE HOMES SOLD THROUGH VHOP HAVE BEEN SOLD WITH OWNER OCCUPIED DEED RESTRICTIONS IN AN EFFORT TO ENFORCE THAT THE HOME IS VETERAN OCCUPIED. A "SOFT" SECOND NON-PAYMENT BEARING MORTGAGE IS PLACED ON THE HOMES. THE "SOFT" SECOND MORTGAGE IS SET TO DEMINISH IN EQUAL INCREMENTS OVER A 5-YEAR PERIOD, WHICH PRESERVES THE MISSION OF THE PROGRAM BY PREVENTING A WINDFALL SALE, REFINANCING, OR A FORECLOSURE, AS PURPLE HEART HOMES, INC. IS LISTED AS THE MORTGAGE HOLDER OF RECORD. HOME OWNERS THAT COMPLETE A 5-YEAR PERIOD OF MAKING ALL MORTGAGE PAYMENTS IN AGREEMENT WITH THE LENDER AND MAINTAIN OWNER OCCUPANCY HAVE THEIR "SOFT" SECOND MORTGAGE RELEASED AFTER 5 YEARS. THIS 5-YEAR PERIOD EXCEEDS THE "DURATION OF CONCERN" THAT THE AFFORDABLE HOUSING INDUSTRY HAS DETERMINED THE GREATEST RISK FOR NEW HOMEBUYERS. IN ORDER FOR VHOP TO WORK, PURPLE HEART HOMES, INC. RECEIVES HOMES AS A DONATION FROM MULTIPLE SOURCES. UPON RECEIPT, THESE GIFTS-IN-KIND ARE RECORDED AT THE HOME'S ESTIMATED FAIR MARKET VALUE AS A CONTRIBUTION AND AS AN ASSET. THE 2021 TOTAL FOR REAL ESTATE GIFTS-IN-KIND WAS 90,331, ESTIMATED AT FAIR VALUE AT THE TIME OF THE DONATION. THAT AMOUNT HAS BEEN INCLUDED IN THE AMOUNT REPORTED ON PART VIII, LINE 1F. DURING THE COVID-19 PANDEMIC, A TEMPORARY EVICTION MORATORIUM WAS ISSUED RESULTING IN A DECREASE IN FORECLOSURES DURING 2021. AS A RESULT, THERE WAS A SIGNIFICANT DECREASE IN DONATED HOMES. VHOP SOLD 35 PROPERTIES TO INVESTORS IN 2021. SOME DONATED PROPERTIES ARE SOLD TO NON-VETERAN OWNER OCCUPANTS AND INVESTORS AFTER PURPLE HEART HOMES, INC. HAS NOT BEEN ABLE TO PLACE A VETERAN IN THESE PROPERTIES. THESE SALES ARE REFLECTED ON PART VIII, LINE 10A, AND RESULTED IN 945,93 IN GROSS SALES. THE AMOUNT ON PART VIII, LINE 10C OF (390,300)IS BASED ON THE SALES PRICE MINUS THE AMOUNT RECORDED AT THE TIME OF DONATION (FAIR MARKET VALUE). FOR SERVICE-CONNECTED DISABLED VETERANS WHO CURRENTLY OWN A HOME THAT NO LONGER MEETS THEIR PHYSICAL NEEDS, PURPLE HEART HOMES, INC. PARTNERS WITH LOCAL VOLUNTEERS IN THE COMMUNITY WITH THE INTENT OF RESTORING DIGNITY AND "QUALITY OF LIFE" BY CREATING A SAFE, BARRIER-FREE LIVING ENVIRONMENT. THIS SERVICE IS CALLED VETERANS AGING IN PLACE (VAIP). RENOVATIONS ARE PROVIDED AT NO COST TO THE VETERAN. IN 2021 PURPLE HEART HOMES, INC. COMPLETED 176 PROJECTS IN 29 STATES. IN 2020 PURPLE HEART HOMES, INC. BEGAN BUILDING TINY HOMES FOR VETERANS UNDER IT'S VHOP PROGRAM. THE ORGANIZATION PLACED 4 DESERVING VETERANS IN 4 TINY HOMES IN 2021. ONE OF THESE HOMES WAS PROVIDED TO A VIETNAM VETERAN AMPUTEE WHO HAS BEEN LIVING IN AN UNISULATED, UNHEATED, AND UNCOOLED STORAGE SHED WITH NO RUNNING WATER FOR 22 YEARS. TWO OF THE TINY HOMES WERE BUILT AND DONATED TO FIFTH STREET MINISTRIES, A LOCAL HOMELESS SHELTER,TO SERVE AS ADDITIONAL HOUSING FOR VETERANS ENROLLED IN THE VETERAN TRANSITIONAL HOUSING PROGRAM. PURPLE HEART HOMES, INC. PLANS TO BUILD AND DONATE 2 MORE TINY HOMES TO FIFTH STREET MINISTRIES IN 2022. THE FOURTH HOME IS COMPLETED AND AWAITING DELIVERY TO A VETERAN IN NEED. IN 2020 PURPLE HEART HOMES, INC. DEVELOPED A RENTAL PROGRAM FOR THOSE VETERANS WHO MIGHT BE IN A TRANSITIONAL PHASE IN LIFE OR COMING OUT OF A CONGREGATIVE LIVING ENVIRONMENT AND NOT QUITE READY FOR HOME OWNERSHIP BUT WHO ARE READY FOR INDEPENDENT LIVING. THE ORGANIZATION COMPLETED THE CONTRUCTION OF 1 RENTAL HOME IN 2021, FOR A TOTAL OF 5, AND HAVE HAD 4 RENTERS MAKE USE OF THESE PROPERTIES AND THIS PROGRAM. REVENUE FOR THIS PROGRAM WAS 24,662 IN 2021 AND IS REFLECTED ON PART VIII LINE 2B. THE RENTAL PROGRAM WILL PROVIDE A RECURRING REVENUE STREAM TO PURPLE HEART HOMES, INC. THAT WILL ALLOW THIS PROGRAM TO BE SELF-SUSTAINING AND ALLOW PURPLE HEART HOMES, INC. TO SERVE MORE VETERANS. SECOND MISSION (VOLUNTEERS & OUTREACH): PURPLE HEART HOMES, INC. IS ALWAYS LOOKING TO ENGAGE STUDENTS AND VOLUNTEERS OF ALL AGES. IN 2021, PURPLE HEART HOMES, INC. HAD SIGNIFICANTLY LESS VOLUNTEER ENGAGEMENT THAN PREVIOUS YEARS DUE TO THE COVID-19 PANDEMIC AND THE IN-PERSON GATHERING RESTRICTIONS THAT WERE IN PLACE. THIS IMPACTED THE ENTIRE PURPLE HEART HOMES ORGANIZATION INCLUDING ITS CHAPTERS. BY THE END OF 2021 THESE RESTRICTIONS WERE HOWEVER BEGINNING TO EASE AND PURPLE HEART HOMES, INC. EXPECTS VOLUTEER ENGAGEMENT TO INCREASE IN 2022. THERE WERE HOWEVER OPPORTUNITIES TO INCREASE GENERAL AWARENESS AND VOLUNTEER ACTIVITIES VIA SOCIAL AND DIGITAL MEDIA. PURPLE HEART HOMES, INC. REACHED APPROXIMATELY 3.7 MILLION PEOPLE DIGITALLY THROUGH WEBSITE ACTIVITY AND SOCIAL MEDIA ACCOUNTS. PURPLE HEART HOMES, INC.'S HEADQUARTERS HAD A TOTAL OF 100 VOLUNTEERS IN 2021 GIVING 600 HOURS OF THEIR TIME. THIRD MISSION (CHAPTER PRESENCE): DURING 2021 PURPLE HEART HOMES, INC. COMPLETED THE SHIFT AWAY FROM A STAND-ALONE EIN MODEL FOR ITS CHAPTERS AND ABSORBED THE REMAINING CHAPTERS INTO PURPLE HEART HOMES, INC. PURPLE HEART HOMES WILL STILL HAVE A SIMILAR CHAPTER FOOTPRINT AS IN THE PRIOR YEARS HAVING 14 CHAPTERS IN 10 STATES: NC (2), SC (2), NY (2), CO, GA (2), OH, TN, FL, TX AND MI. PURPLE HEART HOMES, INC. STILL PLANS TO CREATE NEW CHAPTERS IN THE UNITED STATES, BUT THE CHAPTERS WILL HAVE FULL SUPPORT OF THE HEADQUARTERS MOVING FORWARD. ALL OF THE PURPLE HEART HOMES, INC. CHAPTERS COMBINED COMPLETED 28 HOME RENOVATION PROJECTS FOR DISABLED AND AGING VETERANS IN THEIR LOCAL AREAS. THE VISION OF PURPLE HEART HOMES, INC. CHAPTERS IS TO HAVE A CONSISTENT PURPLE HEART HOMES, INC. PRESENCE IN REGIONS THROUGHOUT THE UNITED STATES. AS MORE PURPLE HEART HOMES, INC. CHAPTERS ARE ESTABLISHED, THE REACH OF PURPLE HEART HOMES, INC.'S ASSISTANCE IS EXTENDED TO EVEN MORE DISABLED AND AGING VETERANS.