Family Housing Resources Inc
- Assets
- $10.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Tucson, AZ
- Founding
- 08/2000
- Data as of
- 12/2023
- EIN
- 86-0750139
Organization Overview
Family Housing Resources Inc is located in Tucson, AZ. The organization was established in 2000. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Housing Resources Inc 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 12/2023, Family Housing Resources Inc generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (27.6%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE CREATE LASTING SOLUTIONS TO HELP INDIVIDUALS AND FAMILIES REACH FINANCIAL FREEDOM THROUGH HOUSING SUPPORT, EDUCATION, AND PARTNERSHIP. TO ACCOMPLISH THIS, WE WORK THROUGH TWO PRIMARY AREAS OF OUR WORK; HOUSING SUPPORT AND EDUCATION AND COUNSELING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING SUPPORT - FHR OWNS AND MANAGES AFFORDABLE HOUSING APARTMENT COMMUNITIES, INCLUDING A LOW-INCOME HOUSING TAX CREDIT (LIHTC) PROPERTY IN BENSON ARIZONA AND A FEW SMALLER COMPLEXES THAT FHR MAINTAINS AS AFFORDABLE.FHR OWNS AND MANAGES A HUD SECTION 202 ELDERLY HOUSING COMPLEX SERVING LOW-INCOME ELDERLY INDIVIDUALS WITH SUPPORTIVE HOUSING AND RENTAL ASSISTANCE AND RECENTLY RE-SYNDICATED A LIHTC PROPERTY.
EDUCATION AND COUNSELING - WE BUILD A FOUNDATION THROUGH FINANCIAL EDUCATION, WORKING TO STABILIZE AN INDIVIDUAL OR FAMILY'S SITUATION AND HLEP THEM ON A PATH TO THRIVING. OUR FINANCIAL PATHWAYS PROGRAM OFFERS FINANCIAL EDUCATIONTHROUGH ONLINE AND IN-PERSON INSTRUCTOR-LED COURSES, MENTORSHIP, AND WORKSHOPS TO BUILD KNOWLEDGE AND SKILLS FOR MANAGING FINANCES WITH CONFIDENCE. AS A HUD APPROVED HOUSING COUNSELING AGENCY, WE WORK ONE-ON-ONE WITH INDIVIDUALS TO BE MORTGAGE READY AND ENSURE THEY ARE SUCCESSFUL HOMEOWNERS. THIS INCLUDES BUDGETING, CREDIT REPAIR, UNDERSTANDING THE LENDING PROCESS AND CONNECTING ELIGIBLE LOW-INCOME BUYERS WITH CRITICAL DOWN PAYMENT ASSISTANCE. WE WORK TO CREATE STABLE HOMEOWNERS THAT ARE BUILDING GENERATIONAL WEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meghan Heddings Executive Dir. | Trustee | 1 | $144,600 |
Diane Quihuis Treasurer | OfficerTrustee | 0 | $0 |
Megan O'leary Secretary | OfficerTrustee | 0 | $0 |
Stanley Lehman President | OfficerTrustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Healthcare Health Services | 12/30/15 | $209,996 |
Az Partsmaster Maintenance Supplies | 12/30/15 | $100,401 |
Criterion Flooring | 12/30/15 | $159,523 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $466,640 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $466,640 |
| Total Program Service Revenue | $1,293,153 |
| Investment income | $95,823 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,535 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,891,286 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,039 |
| 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. | $144,023 |
| Compensation of current officers, directors, key employees. | $7,201 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $581,150 |
| Pension plan accruals and contributions | $15,957 |
| Other employee benefits | $88,754 |
| Payroll taxes | $54,442 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,705 |
| Fees for services: Accounting | $13,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,973 |
| Office expenses | $61,494 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,437 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $107,804 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,961 |
| Insurance | $62,164 |
| All other expenses | $46,064 |
| Total functional expenses | $2,070,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $735,225 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,823 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,807,135 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,185 |
| Net Land, buildings, and equipment | $4,232,228 |
| Investments—publicly traded securities | $1,184,393 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,135 |
| Other assets | $54,899 |
| Total assets | $10,101,023 |
| Accounts payable and accrued expenses | $130,614 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $685,073 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,905,807 |
| Total liabilities | $2,721,494 |
| Net assets without donor restrictions | $7,379,529 |
| 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 | $10,101,023 |
Grants Awarded
Over the last fiscal year, Family Housing Resources Inc has awarded $9,128,853 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
IDA OF THE COUNTY OF PIMA PURPOSE: FOR OPERATIONS | $3,928,853 |
FHR CARES INC PURPOSE: FOR OPERATIONS | $1,000,000 |
LA FRONTERA ARIZONA INC PURPOSE: FOR OPERATIONS | $25,000 |
OUR FAMILY SERVICES INC PURPOSE: FOR OPERATIONS | $50,000 |
UNITED WAY OF TUCSONSOUTH AZ PURPOSE: FOR OPERATIONS | $100,000 |
SOUTHERN ARIZONA LAND TRUST PURPOSE: FOR OPERATIONS | $4,000,000 |