Housing Resources Of Western Colorado

Organization Overview

Housing Resources Of Western Colorado is located in Grand Junction, CO. The organization was established in 1985. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. As of 06/2021, Housing Resources Of Western Colorado employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Resources Of Western Colorado is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2020, Housing Resources Of Western Colorado generated $4.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $4.6m during the year ending 06/2020. While expenses have increased by 4.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE AFFORDABLE HOUSING AND TO PROMOTE THE WISE AND SUSTAINABLE USE OF THE EARTH'S RESOURCES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HOUSING PRESERVATION - HOUSING PRESERVATION COMBINES BOTH THE WEATHERIZATION PROGRAM AND HOUSING REHABILITATION LOAN PROGRAM. SINCE 1988, THE WEATHERIZATION PROGRAM HAS PROVIDED COST-EFFECTIVE, ENERGY-EFFICIENT HOME IMPROVEMENTS TO HOMEOWNERS AND RENTERS. WEATHERIZATION SERVICES ARE FREE TO INCOME QUALIFIED RESIDENTS IN 12 WESTERN COLORADO COUNTIES. SINCE 1991, THE HOUSING REHABILITATION LOAN PROGRAM HAS PROVIDED INCOME QUALIFYING HOMEOWNERS IN MESA, GARFIELD, AND RIO BLANCO COUNTIES ACCESS TO LOW INTEREST-RATE LOANS TO REPAIR AND MAINTAIN THEIR HOMES. THE PROGRAM IS DESIGNED TO FINANCE ESSENTIAL REPAIRS TO IMPROVE HEALTH, SAFETY, ENERGY CONSERVATION, MAJOR AND/OR MINOR DEFICIENCIES, AND ACCESSIBILITY MODIFICATIONS.


ASSET AND PROPERTY MANAGEMENT -OUR ASSETS INCLUDE 180 RENTAL UNITS WITH A VARIETY OF BEDROOM TYPES AND UNITS, 16 LOTS INTENDED FOR SELF HELP DEVELOPMENT (8 IN MESA COUNTY AND 8 IN MONTROSE COUNTY), 4 LOTS INTENDED FOR AFFORDABLE RENTAL UNITS IN MESA COUNTY, AND LAND IN MESA COUNTY OF APPROXIMATELY 14 ACRES INTENDED FOR FUTURE AFFORDABLE HOUSING DEVELOPMENT. OUR RENTAL PROPERTIES HAVE HEALTHY DEBT RATIOS, ALLOWING US TO KEEP OUR RENTS LOW. THE ASSET MANAGEMENT PLAN OUTLINES HOUSING PRESERVATION PROJECTS FUNDED THROUGH GRANTS AND REPLACEMENT RESERVES THROUGH A WATCH LIST OF REPAIRS TO ENSURE SAFE AND HEALTHY PROPERTIES. THE PROPERTY MANAGEMENT PROGRAM PROVIDES RENTAL HOUSING TO QUALIFIED RESIDENTS AND OWNS 97 UNITS WITH PLACE-BASED SECTION 8 VOUCHERS. OUR PROPERTY RENTAL RATES VARY DEPENDING UPON THE MARKET AND THE BOARD ASSET MANAGEMENT COMMITTEE EVALUATION.


REAL ESTATE DEVELOPMENT - IN THE LAST 3 YEARS, WE HAVE PRIMARILY FOCUSED OUR DEVELOPMENT RESOURCES FOR SINGLE-FAMILY DEVELOPMENT THROUGH THE SELF-HELP HOUSING PROGRAM INCLUDING THE DEVELOPMENT OF THE BUTNER NEIGHBORHOOD 40 HOME COMMUNITY. STARTED IN 1997, THE SELF-HELP HOUSING PROGRAM IS A HOMEOWNERSHIP SWEAT EQUITY PROGRAM THAT GIVES INCOME QUALIFIED FAMILIES THE MEANS TO CONSTRUCT THEIR OWN HOMES. PARTICIPATING FAMILIES PERFORM APPROXIMATELY 65% OF THE CONSTRUCTION LABOR, UNDER QUALIFIED SUPERVISION, ON EACH OTHER'S HOMES. THE USDA RURAL DEVELOPMENT PROVIDES A SUBSIDIZED INTEREST RATE ON THE PARTICIPANTS' CONSTRUCTION FINANCING AND THEIR PERMANENT FINANCING. THE COMBINATION OF THE SUBSIDIZED INTEREST RATE AND THE CONTRIBUTION OF LABOR SUBSTANTIALLY REDUCES THE COST OF EACH HOME AND PROVIDES THE OWNERS WITH AN EQUITY BOOST FROM THE OUTSET OF THEIR OWNERSHIP TENURE.


HOUSING COUNSELING AND EDUCATION - THE SERVICES PROVIDED THROUGH THE HOUSING COUNSELING AND EDUCATION PROGRAM INCLUDE FINANCIAL COACHING, FINANCIAL CAPABILITY WORKSHOPS, HOMEBUYER EDUCATION CLASSES, PREPURCHASE COUNSELING, POSTPURCHASE COACHING, RENTAL COUNSELING, RENTAL AND MORTGAGE ASSISTANCE, AND FORECLOSURE PREVENTION. HOUSING COUNSELING AND EDUCATION IS ALSO OPERATING COVID-RELATED RENTAL AND MORTGAGE ASSISTANCE PROGRAMS. WE ARE A HUD-APPROVED COUNSELING AGENCY.COMMUNITY BUILDING AND ENGAGEMENT - OUR COMMUNITY BUILDING AND ENGAGEMENT PROGRAM BUILDS LOCAL VITAL COMMUNITIES THAT PROVIDE EQUITABLE OPPORTUNITIES FOR PEOPLE TO THRIVE. WE STRIVE TO REACH OUR VISION BY CONNECTING PEOPLE, PLACES, AND LOCAL COMMUNITY SYSTEMS. THE PROGRAM PROVIDES COMMUNITY ORGANIZING ACTIVITIES THAT HELP RESIDENTS AND OTHER AREA STAKEHOLDERS COME TOGETHER TO DEVELOP AND PROVIDE LEADERSHIP TO BUILD A STRONG COMMUNITY. IN RESPONSE TO THE COVID 19 PANDEMIC, COMMUNITY BUILDING AND ENGAGEMENT, WITH ASSISTANCE OF MONTROSE COUNTY, CREATED THE MONTROSE EMERGENCY HOUSING GROUP AND ESTABLISHED A NEW PROGRAM TO PROVIDE HOTEL VOUCHERS TO HOMELESS INDIVIDUALS AND FAMILIES.


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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$3,145,111
Investment income $24,789
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 $4,804,755

Grants Recieved

Over the last fiscal year, we have identified 10 grants that Housing Resources Of Western Colorado has recieved totaling $362,204.

Awarding OrganizationAmount
The Colorado Health Foundation

Denver, CO

PURPOSE: STRENGTHEN COMMUNITY HEALTH

$200,000
The Colorado Health Foundation

Denver, CO

PURPOSE: STRENGTHEN COMMUNITY HEALTH

$100,000
Western Colorado Community Foundation Inc

Grand Junction, CO

PURPOSE: HOUSING, SHELTER

$25,000
Housing Solutions For The Southwest Inc

Durango, CO

PURPOSE: RENT ASSISTANCE

$22,874
Enterprise Community Partners Inc

Columbia, MD

PURPOSE: CAPACITY BUILDING

$7,000
El Pomar Foundation

Colorado Springs, CO

PURPOSE: HOMELESS SUPPORT IN MONTROSE COUNTY

$2,500
View Grant Recipient Profile

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