2024-08-20T06:23:04-07:00 2023-12-31 251743181 McGee Maruca & Assoc PC CPAs 3111 Banksville Rd Suite 200 Pittsburgh PA 15216 990 2023-01-01 251591350 Mon Valley Initiative MONV 4124644000 303-305 East Eighth Avenue Homestead PA 15120 Laura Zinski CEO 2024-08-20 true true Leslie A McGee CPA P00803218 4123449006 2023 2024-08-08 14:25:15Z Laura Zinski 303-305 East Eighth Avenue Homestead PA 15120 15149354 false X www.monvalleyinitiative.com X 1988 PA The Mon Valley Initiative is a grass-roots, regional community development corporation, organized to carry out its mission of Mon Valley Initiative strengthens the Mon Valley region by responsibly investing in our people and places" 10 10 30 135 0 2332466 11503624 2970412 2831921 80046 31395 658339 626208 6041263 14993148 316217 401570 0 1428108 1314837 0 15532 3832862 3943701 5577187 5660108 464076 9333040 14466741 22726082 3043347 2070473 11423394 20655609 X MON VALLEY INITIATIVE IS A REGIONAL COMMUNITY DEVELOPMENT CORPORATION REPRESENTING COMMUNITIES AND STAKEHOLDERS ALONG THE MONONGAHELA RIVER AND ITS TRIBUTARIES IN THREE SOUTHWESTERN PENNSYLVANIA COUNTIES. MVI IS ORGANIZED INTO THREE PROGRAM AREAS, TO BEST CARRY OUT ITS MISSION OF "MON VALLEY INITIATIVE STRENGHENS THE MON VALLEY REGION BY RESPONSIBLY INVESTING IN OUR PEOPLE AND PLACES". THE THREE PROGRAM AREAS ARE REAL ESTATE AND COMMUNITY DEVELOPMENT, HOUSING COUNSELING AND WORKFORCE DEVELOPMENT AND FINANCIAL COACHING. false false 4002241 Real Estate: The purpose of MVIs Real Estate Development Program is to help rebuild the fabric of MVIs member communities, thereby stabilizing both the built environment and property values, maintaining the tax base, and promoting a culture of public safety and community confidence. MVI provides direct real estate development services through existing programs including Rehab for Resale (acquisition, renovation and resale of existing blighted and vacant properties), new construction housing in targeted areas, owner-occupied rehabs, residential rental development, the development of strategic commercial spaces in targeted business districts, and various complementary initiatives in community planning, zoning and marketing outreach. MVI and its locally-based partners have now completed construction, redevelopment or facilitated the transfer of 675 units of housing, with 20 units in predevelopment. 620575 Housing Counseling: The Mon Valley Initiative National Intermediary is a HUD-approved national housing counseling intermediary that provides administrative services, housing counseling funding, and performance monitoring services to a national network of sub-grantee agencies. The agencies in turn provide eligible housing counseling services to participants in their local areas. During the 2023 HUD fiscal year, the agencies provided housing counseling to 7,145 households. MVIs Housing Counseling Program is a sub-grantee agency of The Mon Valley Initiative National Intermediary. The purpose of MVIs pre-purchase housing counseling program is to educate and assist individuals and families, with low and moderate incomes, in the process of obtaining an affordable mortgage to facilitate the purchase of a home. MVI provides credit and budget analyses, and HUD- and PHFA-approved housing counseling action plans to bring participants to mortgage-readiness. MVI also coordinates services with several other housing counseling agencies in our area. During 2023, MVIs Housing Counseling Program provided assistance to 87 participants through pre-purchase housing counseling. Of those receiving pre-purchase counseling, 28 went on to become homeowners. 507636 Community Development:The Community Development and Outreach efforts undertaken through this program support and engage volunteers, partner organizations, community residents and stakeholders to build connections and gather vital guidance and feedback, ensuring the MVI remains deeply engaged at the local level. The program staff provide guidance to partner organizations, coordinate special events, and provide support to the other MVI program areas. MVIs work was supported by a volunteer base of approximately 135 individuals in 2023. 335808 5466260 true true false false false false false false false true true false false false true false true false false false false false false false true false false true false false false false false false false false false false false false false false false true false false false true 27 0 true 30 true false false false false false true true false 0 false false false false false false false X 10 10 false false false false true true false true true false false true true true true true true true false true true PA X X April HooverCFO 4124644000 303 - 305 East Eighth Avenue Homestead PA 15120 Laura Zinski CEO 40.00 0.00 X 112000 0 0 April Hoover CFO 40.00 0.00 X 83646 0 0 Lindsey Coy Board Member 1.00 0.00 X 0 0 0 Jebediah Feldman Board Member 1.00 0.00 X 0 0 0 Mary Carol Kennedy Treasurer 2.00 0.00 X X 0 0 0 Barata Bey Chairman 2.00 0.00 X X 0 0 0 Tyler Reeder Board Member 1.00 0.00 X 0 0 0 Dale Bizub Board Member 1.00 0.00 X 0 0 0 Barbara LaFace Board Member 1.00 0.00 X 0 0 0 Terry Ward Secretary 2.00 0.00 X X 0 0 0 Jane Flaherty Vice Chair 2.00 0.00 X X 0 0 0 Richard Wallace Board Member 1.00 0.00 X 0 0 0 195646 1 false false false Hawkins Redevelopment I LLC 230 Wyoming Avenue Kingston PA 18704 Construction 1897565 Hawkins Redevelopment II LLC 230 Wyoming Avenue Kingston PA 18704 Construction 1752000 2 634841 10868783 11503624 Construction Grants 2583955 2583955 Developer Fee 79265 79265 Program Service 168701 168701 2831921 166474 11811 154663 0 0 559918 559918 559918 559918 135079 -135079 -135079 -135079 34242 21127 13115 13115 0 0 Miscellaneous Income 53175 53175 53175 14993148 3321746 167778 401570 401570 0 0 0 195646 172853 20954 1839 0 997631 881407 106846 9378 0 18468 16317 1978 173 103092 91082 11041 969 0 0 0 0 0 0 352523 343400 8387 736 0 96259 87236 8295 728 0 0 0 17099 15129 1811 159 0 0 43718 42724 914 80 0 268128 266054 1907 167 123892 118066 5356 470 Program development 2609881 2609881 Utilities 191433 188683 2528 222 Other Apartment Expenses 110310 110310 Real Estate Taxes 58106 56927 1084 95 72352 64621 7215 516 5660108 5466260 178316 15532 328506 514982 1831321 5977806 2484022 1370622 0 0 0 226793 124078 3326 4397 12990 14140 10852188 2127080 8947978 8725108 5155047 604836 736301 0 0 26969 103601 14466741 22726082 1836321 1018875 671417 596290 535609 455308 3043347 2070473 X 9686856 9282407 1736538 11373202 11423394 20655609 14466741 22726082 X 9333040 421825 -522650 X false true X true true true X 2458192 4883135 5972879 5119344 14087579 32521129 0 0 2458192 4883135 5972879 5119344 14087579 32521129 0 32521129 31479 32526 35121 61337 154663 315126 0 49586 60051 82937 103713 53175 349462 33185717 3234353 0.98000 0.96820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5000000 451421 250000 5201421 1.00000 false false false 403315 403315 8482682 1363720 7118962 1546834 377640 1169194 341730 311553 30177 77627 74167 3460 8725108 Line of Credit 376993 Security deposits 78315 455308 15364582 421825 -49065 372760 14991822 1326 1326 14993148 5658782 5658782 1326 1326 5660108 false Annual Dinner 34242 34242 21127 34242 34242 21127 21127 13115 true CHANGE INC 3158 WEST STREET WEIRTON WV 26062 550629135 25418 0 HOUSING COUNSELING COMM PTNRS FOR AFFORD HOUSE 800 S Milwaukee Avenue Libertyville IL 60048 363086133 30000 0 HOUSING COUNSELING COMMUNITY ACTION PSHIP OF MERCER 75 S DOCK STREET SHARON PA 16146 251157381 5572 0 HOUSING COUNSELING FAIRMONT-MORGANTOWN HOUSING A 103 TWELFTH STREET FAIRMONT WV 26554 556011100 15790 0 HOUSING COUNSELING HOMESIGHT 5117 RAINIER AVENUE SEATTLE WA 98118 943117253 67505 0 HOUSING COUNSELING HOUSING OPPORTUNITIES - FT WORTH 1065 WEST MAGNOLIA STREET STE B FORTH WORTH TX 76104 752578191 59548 0 HOUSING COUNSELING INTERFAITH COMMUNITY HOUSING DE 613 N WASHINGTON STREET WILMINGTON DE 19801 510298556 34676 0 HOUSING COUNSELING NEW KENSINGTON COMMUNITY DEVELOP 2513 FRANKFORD AVENUE PHILADELPHIA PA 19125 222610536 27038 0 HOUSING COUNSELING NORTH FORK HOUSING ALLIANCE INC 116 SOUTH STREET GREENPORT NY 11944 112627786 9245 0 HOUSING COUNSELING THE NEIGHBOR PROJECT 32 S Broadway Aurora IL 60505 363753248 28992 0 HOUSING COUNSELING 10 0 Grantmaker's Description of How Grants are Used MVI is responsible for complying with the HUD Grant Agreement and all applicable laws, and is responsible for subgrantee compliance with applicable provisions of the Grant Agreement. MVI monitors subgrantee compliance, and takes appropriate actions to ensure subgrantee compliance with the Grant Agreement, the Subgrant Agreements, and all applicable laws. MVI has in place a quality control program that describes how MVI monitors subgrantee performance, and a HUD-approved Subgrantee Monitoring Policy. Form 990, Part III, Line 4d OTHER PROGRAM SERVICES 4: Community Development:The Community Development and Outreach efforts undertaken through this program support and engage volunteers, partner organizations, community residents and stakeholders to build connections and gather vital guidance and feedback, ensuring the MVI remains deeply engaged at the local level. The program staff provide guidance to partner organizations, coordinate special events, and provide support to the other MVI program areas. MVIs work was supported by a volunteer base of approximately 135 individuals in 2023. Form 990, Part VI, Section A, Line 6 THE BOARD OF DIRECTORS IS COMPOSED OF MEMBERS. Form 990, Part VI, Section B, Line 11b MVI'S INDEPENDENT AUDITOR AND MANAGEMENT REVIEW FORM 990 IN DRAFT FORM WITH THE AUDIT COMMITTEE. MANAGEMENT THEN DISTRIBUTES THE DRAFT 990 TO THE BOARD OF DIRECTORS FOR REVIEW. ONCE THE 990 HAS BEEN REVIEWED BY THE BOARD, MANAGEMENT FILES FORM 990. Form 990, Part VI, Section B, Line 12c MON VALLEY INITIATIVE'S BOARD HAS APPROVED A WRITTEN CONFLICT OF INTEREST POLICY THAT ADDRESSES CONFLICTS OF INTEREST AND DISCLOSURE REQUIREMENTS, AND ESTABLISHES ACCOUNTABILITIES FOR BOTH THE BOARD AND STAFF. MANAGEMENT IS OBLIGATED TO REVIEW THE POLICY WITH THE BOARD ON AN ANNUAL BASIS, AND TO REPORT ANY ISSUES AS THEY BECOME APPARENT. THE CEO AND CFO SHARE COMPLIANCE RESPONSIBILITIES (WITH THE CFO BEING DIRECTLY RESPONSIBLE FOR DAY-TO-DAY COMPLIANCE), AND THE AUDIT COMMITTEE AND BOARD SHARE OVERSIGHT RESPONSIBILITIES. MANAGERS MAKE REGULAR REPORTS TO BOTH OVERSIGHT BODIES. THE CONFLICT OF INTEREST POLICY COMPLEMENTS MVI'S EMPLOYEE HANDBOOK, WHICH ESTABLISHES STAFF MEMBER RESPONSIBILITIES WITH RESPECT TO CONFLICTS OF INTEREST. Form 990, Part VI, Section B, Line 15a THE CEO SUBMITS A SUMMARY OF HER ACCOMPLISHMENTS FOR THE YEAR TO THE CHAIR OF MVIS BOARD OF DIRECTORS. THE CHAIR THEN REVIEWS THE ACCOMPLISHMENTS AND VARIOUS COMPARABILITY DATA WITH THE BOARD OF DIRECTORS, AND RECOMMENDS A COURSE OF ACTION. THE DIRECTORS, ALL OF WHOM ARE INDEPENDENT, DISCUSS THE RECOMMENDATION, AND AFTER DELIBERATION VOTE ON THE RECOMMENDATION. ALL DELIBERATIONS AND DECISIONS ARE CONTEMPORANEOUSLY SUBSTANTIATED IN THE MINUTES OF THE MEETING. MVIS CFO THEN REPORTS ON THE COMPENSATION REVIEW PROCESS FOR MVIS OTHER OFFICERS AND EMPLOYEES. THE BOARD PERIODICALLY REVIEWS AND APPROVES SALARY RANGES FOR ALL MVI POSITIONS, AS OFTEN AS APPROPRIATE.THE CFO'S COMPENSATION IS DETERMINED IN THE SAME MANNER AS THAT OF ALL OTHER STAFF MEMBERS WITH EXCEPTION OF THE CEO. MON VALLEY INITIATIVE USES A FORMAL, WRITTEN ANNUAL PERFORMANCE EVALUATION PROCESS FOR STAFF MEMBERS, AND SALARY ACTIONS ARE DETERMINED IN THE CONTEXT OF THE EVALUATIONS, RELATIVE PERFORMANCE LEVELS, APPROXIMATE PREVAILING MARKET PAY RATES, AND THE ORGANIZATION'S BUDGET FOR THE YEAR. Form 990, Part VI, Section C, Line 19 MON VALLEY INITIATIVE (MVI) WILL POST ITS FORM 1023 AND ITS CURRENT 990 (EXCLUDING SCHEDULE B AND ANY OTHER CONFIDENTIAL SECTIONS) ON THE ORGANIZATION'S WEBSITE. MVI WILL ALSO MAKE FORM 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST, AND WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION AT MVI'S OFFICE.MON VALLEY INITIATIVE'S BOARD OF DIRECTORS CHARTERED AN AUDIT COMMITTEE IN 2008, WITH SPECIFIC POWERS AND DUTIES RELATING TO MVI'S INDEPENDENT AUDIT PROGRAM AND INTERNAL CONTROL PROGRAM. THE COMMITTEE MEETS ON A REGULAR BASIS, AND PROVIDES ACTIVE OVERSIGHT TO MVI'S FINANCIAL AND COMPLIANCE ACTIVITES. THE COMMITTEE IS DIRECTLY AND SOLELY RESPONSIBLE FOR THE APPOINTMENT AND DISMISSAL, EVALUATION, COMPENSATION, AND OVERSIGHT OF MVI'S INDEPENDENT AUDITOR. Form 990, Part XI, Line 9 Adjustment for Real Estate Carrying Value = -$13668 Form 990, Part XI, Line 9 East Braddock Capital contribution = -$473585 Form 990, Part XI, Line 9 Loan Loss Provision = -$35397 Form 990, Part XI, Line 9 Other = -$0 North East Housing Associates 305 E 8th Ave Homestead PA 15120 251900465 Real Estate PA MVI -73523 -360427 false false 0.99000 East Braddock Housing Development LP 305 E 8th Ave Homestead PA 15120 205835108 Real Estate PA MVI 1581150 false false 0.99990 North East Housing Corporation 305 E 8th Ave Homestead PA 15120 331034172 Real Estate PA MVI C corp -743 -3641 1.00000 false East Braddock Housing Development Corp 305 E 8th Ave Homestead PA 15120 208541490 Real Estate PA MVI C Corp 158 1.00000 false false false false false false false false false false false false false false false false false false false false