“Improving Lives through Partnerships”
Message from the Board
The Board and staff of HomesteadCS would like to thank our donors, partners, and volunteers for their part in what was a successful year by serving more than 500 households through our Housing Counseling, Financial Education, and Community Loan Center programs. What really helped propel us forward in 2016 was partnerships. Without our partners, we would not have reached the level of success that we did with our Community Loan Center (CLC) program. Perhaps our most notable example would be the need to raise $500,000 in matching grant funds for the CLC. With the help of a dedicated committee of volunteers, we were able to surpass our goal with flying colors with the support from area organizations and businesses. As a result, we are well set to offer loans of up to $1000.00 to the employees of our participating employers in order to help them avoid predatory payday lending and financial hardships. Furthermore, our CLC partnerships are providing us with the resources needed to expand our financial education classes to meet an increased demand, which fits in directly with our mission and vision of making sure residents of our communities are well-educated about their finances. In addition to the Community Loan Center program partnerships, we had another impactful year through our housing counseling programs. While things are improving in our area and around the country, people are still struggling. In fact, in 2016, we helped 120 families save their homes from foreclosure, with home values totaling over $15 million. In 2017, with the help of our partners, we will be working to find ways to continue to serve our families in need despite foreclosure prevention program cuts at the federal level. As always, it takes the whole community to help us accomplish our goals. Our success starts and ends with the help from our partners. We are pleased that so many people and area businesses came forward in 2016 to help us strengthen the lives of people in our communities. We are helping people thrive through partnerships, and because of that, we say thank you.
Jim Slaven, Board President
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HomesteadCS
Mission
The mission of HomesteadCS is to provide education and other resources to increase affordable, sustainable housing opportunities and financial stability in the communities we serve and to be a catalyst for the development and revitalization of our neighborhoods.
Vision
All individuals and families will be financially educated regarding housing, have the knowledge and skills to manage financial assets, have access to affordable housing, and live in safe, well-maintained neighborhoods.
2016 Client Information - 543 Clients Served
COUNTY ETHNICITY GENDER Tippecanoe: 41% White 88% Other : 15.8% Clinton : 9.6% African American 7% White: 8% Hispanic 2% Male, 47% Female, 53% Montgomery: 5.8% No Response 1% Putnam: 4.6% Asian 1% Boone: 4.4% Other 1% Carroll: 4.3% Fountain: 2.7% Benton: 2.5% Warren: 1.3% AGE AREA MEDIAN INCOME 18-24, 1% Under 30% AMI 19% 65+, 22% 31-50% AMI 20%
25-44, 30% 51-80% AMI 31% 81-100% AMI 10% 45-64, 47% Over 100% AMI 13% No response 7% 3
Program Accomplishments
Foreclosure and Delinquency
Struggling homeowners became Foreclosure and Delinquency clients. A total of $15 million in homes were saved from foreclosure.
Reverse Mortgage
Clients completed Reverse Mortgage Counseling to make informed decisions on FHA’s Home Equity Conversion Mortgage.
HomeBuyer Education
Clients became experts in homeownership by completing HomeBuyer Education classes.
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Program Accomplishments
Hardest Hit Fund Loans
Hardest Hit Loans were closed; distributing nearly $1.3 million in assistance to keep clients in their homes.
Tenant Education
Clients were made aware of their rights and responsibilities by our Tenant Education Classes.
New Homeowners
Of our homebuyer & pre-purchase clients became new homeowners purchasing over $2.5 million in homes.
Pre-purchase Counseling
Clients learned the ins and outs of the home-buying process to make informed decisions through our Pre-purchase Counseling services. 5 5
Program Accomplishments
Bank on Tippecanoe Individuals opened new checking accounts at area financial institutions who would have otherwise been turned down for an account.
Home Repair NIP
Amount of money per loan distributed to assist struggling homeowners with home repair needs.
Post-Purchase Counseling
Number of clients who were given guidance about refinancing or assistance through NIP repair loans after the purchase of a home.
Community Loan Center
Number of employees who took out loans to help them avoid using payday lenders and other risky lending methods. 6
2016 Highlight—Partnerships
2016 was year filled with unique partnerships that helped get the Community Loan Center up and running. With the help of these partners, we were able to raise over $500,000 in matching grant funds so that we could start the Community Loan Center program. THANK YOU!
7 Financials
Consolidated Statement of Financial Position and Activities
FY 2016 Revenue FY 2016 Expenses
3% 2% 5% 17% 17% 10%
63% 82%
Contributions and Grants $549,397 Contract Service Fees $144,210 Programs $410,192 Special Events $85,457 Supporting Services $84,016 Interest $45,667 Program Services Fees $25,407 In-kind & Other Events $17,154
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Assets 2016 Total 2015 Total Cash $ 297,636 $ 79,103 Accounts Receivable $ 50,009 $ 41,994 Prepaid Expenses $ 11,076 $ 7,260 Receivables from Historical Jeff $ 1,635,725 $ 1,591,375 Notes Receivable $ 79,574 $ 7,500 Property & Equppment (net) $ 120,509 $ 114,726 Properties Held for Resale (net) $ 2,000 $ 2,000 Unconditional Promise to Give $ 46,148 $ 26,795 Total Assets $ 2,242,677 $ 1,870,753
Liabilities and Net Assets 2016 Total 2015 Total Liabilities Accounts Payable $ 30,716 $ 34,171 Accrued Expenses $ 16,606 $ 15,060
Escrow Liabilities $ 20,218 $ 14,420
Capital Lease Payable $ 10,380 $ 21,242 Deficit Investments in Partnerships $ 29,210 $ 26,397 Total Liabilities $ 107,130 $ 111,290
Net Assets 2016 Total 2015 Total Unrestriced $ 1,811,947 $ 1,732,668 Temporarily Restricted $ 323,600 $ 26,795 Total Net Assets $ 2,135,547 $ 1,759,463
Total Liabilities and Net Assets $ 2,242,677 $ 1,870,753
Support and Revenue 2016 Total 2015 Total Contributions, Grants and Special Events $ 646,234 $ 249,823 Contract Service Fees $ 144,210 $ 146,623
Program Service Fees $ 28,407 $ 31,634 2016Financials Interest $ 45,667 $ 44,352 Bad Debt Recovery $ 4,544 $ 544 Miscellaneous $ 1,230 $ - Total Support and Revnue $ 870,292 $ 472,976
Expenses 2016 Total 2015 Total Foreclosure Prevention $ 168,030 $ 268,725 Housing and Financial Education $ 79,073 $ 55,324 Community Loan Center $ 128,494 $ - Other Programs $ 34,595 $ 35,566 Supporting Services $ 84,016 $ 35,566 Total Expenses $ 494,208 $ 395,181
Net Assets 2016 Total 2015 Total Increase in net Assets $ 376,084 $ 77,795 Net Assets, Beginning of Year $ 1,759,463 $ 1,681,668 13 Total Net Assets, End of Year $ 2,135,547 $ 1,759,463 9 Key Club Sponsors
Platinum Key Key Chain Link State Farm Amazon Smile Allstate Silver Key Bison Financial Caterpillar Franklin Finish, LLC Wabash National IBEW Bronze Key Kiwanis Foundation Fifth Third Bank Lafayette Life Retirees Old National Bank Lafayette Daybreak Rotary Club
Individual Program Donors
Family Partner Anonymous James & Sandra Bodenmiller Daniel & Jacquie Dexter Clarinda Crawford Thomas & Kathy Murray Rusty and Kathy Davis Norb & Carolyn Fisher Friend Jake Franklin Kara Boehm Rob& Heather Hart Don & Mary Franklin Gary & Ann Jackson Russell & Margery Harvey Joe Kellogg David & Melissa Holder Stephen & Kelly Mahn Sheila Klinker Madison Monteiro Larry Lohmeier Nancy Morell Doug and Marie Morse Brent & Amanda Rubeck Mark & Tammy McNary Scott & Evelyn Royer
Dick and Cindy Murray Neighbor David and Cheryl Rosenthal Anonymous Tim & Kimberly Schooler Andrew Baumgartner Jason Schwenk John & Janet Bergman Charlie Shook John & Dixie Frye Sherry Walter Scott & Sara Goldberg Dr. Williamson Jennifer Million Sheila Talley Otto & Donna Wuethrich Matthew & Amanda Wallace
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Evil on Erie Contributors
Downright Dreadful (Diamond) Sinister (Silver) Huntington Bank Shepard Insurance Subaru of Indiana Automotive, Inc. Petrifying (Platinum) Artistic Media Partners (Bob FM 95.3, WAZY Bloodcurdling (Bronze) 96.5, Your Country 95.7) DeFouw Automotive McDonald’s Creepy (Crystal) Gruesome (Gold) Abstract Technology Group Old National Bank June Palms Property Management Visit Lafayette, West Lafayette Purdue Federal Credit Union WCDQ (Country for the Heartland 106.3) Speedpro Imaging WIMC (Thunder 103.9) WKOA (Lafayette’s Leading Country K105) WKHY (Everything that Rocks 93.5, Today’s Hits B102.9)
Special Event Donations
David Kovich Red Seven Bar and Grill Doug and Marie Morse Sgt. Preston’s of the North Henriott Group Steven and Peg Downham HuHot Mongoliam Grill Sheila Talley 8 Jake Franklin
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Homeward Bound Contributors
Homestead Sponsors Norb & Carolyn Fisher Harry Plantega
American Mortgage Dave Fisher Brittni Parson EMT Food Truck TW Fisher Lisa Perry Fleet Feet Sports Phil Fisher Connie Runyan First Financial Dolores Flynn Steven Riggs
Lafayette Community Bank Jake Franklin Charlie Shellie
Stallard and Schuh Jeff Gahm Colleen Shepherd Peter Goldsbrough Rod Sherman Contributors Kristin Handy K. Sigo Anonymous Heather Hart Molly Slaven Becky Barnes Linda Harrell Jim Slaven Alberta Barker Lyle Hunter Roger Smith Dave Bart Elke Hutchins Carl Smith Jane Bennett Jaheen Jensen Melissa Wagner Ashley Bigelow Sudhakar Kakani Annett Wardell Michael Biang Sheila Klinker Jennifer William Mark & Ashley Bonnes Ron & Deb Kolczak Len & Connie Wilson C. Brown David Kovich Ruby Workman Jenny Bohan Lafayette Association of Realtors Faye Bridgeforth Larry Lohmeier Janet Burkenpas Jaime Mineart Ed Caplinger Sharon Morrissey Shannon Conley Marie & Doug Morse Luke & Katie Clark Cindy Murray Nancy Cross Kathy & Thomas Murray Bob Dahnke Ryan Meister Shawn Deignan New Community School Peg Downham Mark Needham Debbie, Morgan & Cassandra John Nelson Esabri
12 Community Loan Center Contributors
United Way of Greater Lafayette Centier Bank Old National Bank First Financial Bank Lafayette Life Foundation The Community Foundation Purdue Federal Credit Union of Greater Lafayette
9 Community Loan Center Committee
CDFI Committee Employer Marketing Committee Jake Franklin Michael Budd Gary Henriott Roberta Crabtree David Kovich Clarinda Crawford Marie Morse Jake Franklin Cindy Murray Russ Harvey Joe Seaman Marie Morse Sherry Walter Stephanie Patacsil 9
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Board of Directors
Jim Slaven, President Sheila Klinker
Cindy Murray, Vice President David Kovich
David Holder, Treasurer Kathy Murray
Larry Lohmeier, Secretary David Rosenthal
Rev. Clarinda Crawford Tim Schooler
Norbert Fisher Charlie Shook
Heather Hart Sherry Walter
Russ Harvey
Staff
Marie Morse, Executive Director
Joe Kellogg, Housing Programs and Facilities Manager
Jake Franklin, Director of Marketing & Development
Kristi Gill, Housing Educator
Sheila Talley, Administrative Assistant
CJ Brown, Part-time Housing Educator Office Volunteers
Deb Kolczak
Jeff and Sherry Manny
Jason Rubsam
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THANK YOU FOR A GREAT YEAR!
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HomesteadCS is a 501(c)(3) non-profit organization located in Lafayette, Indiana that decreases foreclosure, increases home ownership, and ensures that families in Tippecanoe and surrounding counties have safe, affordable homes.
Our programs make clients aware of their options in order for them to make in- formed decisions. If further action is necessary, we work on the client’s behalf to achieve the best possible solution.
Because we are certified by the state of Indiana and the U.S. Dept. of Housing and Urban Development (HUD), our clients have access to additional resources that other organizations are unable to offer.
Thanks to grants and charitable donations, nearly all of our programs are free. Ensure that area families have safe, affordable homes by joining our Donor Club at www.HomesteadCS.org/Donate.
HomesteadCS Phone: 765-423-1284 Fax: 765-637-7949 671 N 36th St. www.HomesteadCS.org Lafayette, IN 47905 www.CLCWestCentralIndiana.org