Tchfh Lending Inc
- Assets
- $7.8m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Saint Paul, MN
- Founding
- 01/1987
- Data as of
- 06/2022
- EIN
- 81-1958719
Organization Overview
Tchfh Lending Inc is located in Saint Paul, MN. The organization was established in 1987. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Tchfh Lending Inc employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Tchfh Lending Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING AFFORDABLE HOME MORTGAGES TO HELP THE UNDERSERVED ATTAIN HOMEOWNERSHIP
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWIN CITIES HABITAT FOR HUMANITY IS THE SOLE MEMBER OF THE TCHFH LENDING INC. CORPORATION; TOGETHER THE TWO ORGANIZATIONS WORK IN PARTNERSHIP TO MAKE DECENT, AFFORDABLE HOMEOWNERSHIP POSSIBLE FOR LOW AND MODERATE INCOME HOUSEHOLDS ACROSS THE TWIN CITIES SEVEN-COUNTY METRO. TCHFH LENDING, INC. ORIGINATES AFFORDABLE MORTGAGES, SERVICES RESIDENTIAL MORTGAGE LOANS, AND PROVIDES DOWN PAYMENT AND CLOSING COST ASSISTANCE. ITS PRIMARY PROGRAM IS TO FINANCE RESIDENTIAL MORTGAGES TO A TARGET MARKET OF LOWINCOME HOMEBUYERS FOR THE PURCHASE OF A HABITAT-BUILT HOME, A MOVE-IN READY HOME OR A HOME IN NEED OF ADDITIONAL REHAB. THE ORGANIZATION WAS INCORPORATED IN FY16 AND ORIGINATED 84 MORTGAGE LOANS IN FY22.
TCHFH LENDING, INC. SERVICES RESIDENTIAL MORTGAGES IT ORIGINATES AND SERVICES EXISTING LOANS PREVIOUSLY ORIGINATED BY ITS PARENT ENTITY, TWIN CITIES HABITAT FOR HUMANITY, INC. THE ORGANIZATION SERVICED 1,188 LOANS IN FY22.
TCHFH LENDING, INC. PROVIDES DOWN PAYMENT AND CLOSING COST ASSISTANCE GRANTS TO ELIGIBLE LOW-INCOME HOMEBUYERS AND FACILITATES THIRD-PARTY DOWN PAYMENT ASSISTANCE PROGRAMS ANDSUBORDINATE LOANS. GRANTS WERE AWARDED TO 83 HOMEBUYERS IN FY22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robyn Bipes-Timm President | Officer | 12 | $0 |
Joe Khawaja Secretary, Treasurer | Officer | 1 | $0 |
Tony Barranco Director | Trustee | 0.5 | $0 |
Delinda Washington Director | Trustee | 0.5 | $0 |
Steve Poppen Director | Trustee | 0.5 | $0 |
Jonathan Sage-Martinson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $305,573 |
| All other contributions, gifts, grants, and similar amounts not included above | $982,351 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,287,924 |
| Total Program Service Revenue | $1,116,783 |
| Investment income | $44,042 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,448,749 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $119,290 |
| Compensation of current officers, directors, key employees. | $5,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $341,629 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $112,532 |
| Payroll taxes | $34,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,790 |
| Fees for services: Accounting | $1,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,000 |
| Advertising and promotion | $0 |
| Office expenses | $449 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,566 |
| Interest | $48,048 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20,438 |
| All other expenses | $115,812 |
| Total functional expenses | $1,272,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,420,778 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,677 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,641 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,733,523 |
| Intangible assets | $0 |
| Other assets | $1,573,116 |
| Total assets | $7,779,735 |
| Accounts payable and accrued expenses | $1,515 |
| Grants payable | $0 |
| Deferred revenue | $1,073,874 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,786,350 |
| Other liabilities | $1,675,046 |
| Total liabilities | $5,536,785 |
| Net assets without donor restrictions | $2,242,950 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,779,735 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tchfh Lending Inc has recieved totaling $8,250.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $8,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Homestead At Rochester Inc Eden Prairie, MN | $84,661,096 | $19,652,604 |
Jeremiah Program Minneapolis, MN | $39,745,824 | $13,376,447 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Habitat For Humanity International Inc Des Moines, IA | $24,118,438 | $12,529,342 |
Community Housing Resources Minneapolis, MN | $41,679,341 | $15,920,162 |
Home And Community Options Inc Winona, MN | $11,542,509 | $9,788,629 |
Phm New Richmond Senior Housing Inc Roseville, MN | $18,158,628 | $8,376,438 |
Greater Minnesota Housing Fund St Paul, MN | $209,115,546 | $19,170,053 |
American Indian Community Development Corporation Minneapolis, MN | $37,892,319 | $10,832,403 |
Habitat For Humanity International Inc Madison, WI | $16,210,690 | $8,401,610 |
Phw Menomonee Falls Inc Roseville, MN | $45,125,918 | $7,810,658 |