2024-11-14T13:47:35-06:00 2023-12-31 420714325 RSM US LLP 400 LOCUST ST STE 640 DES MOINES IA 503092354 990 2023-01-01 421416426 COMMUNITY HOUSING INITIATIVES INC COMM 7122625640 328 GRAND AVENUE SPENCER IA 51301 MARK VREEMAN CHIEF FINANCIAL OFFICER 7122625965 2024-11-14 1 0 KATHY FAIRCHILD P00222608 5155586600 2024-11-08 2023 2024-10-15 13:58:12Z SAMANTHA ERICKSON 328 GRAND AVENUE SPENCER IA 51301 6733372 0 X WWW.CHIHOUSING.COM X 1994 IA PROVIDE DECENT, SAFE & AFFORDABLE HOUSING FOR LOW & MODERATE INCOME INDIVIDUALS. 8 8 44 2032 0 0 503178 1113520 4273207 5374886 13476 65206 170760 179760 4960621 6733372 0 0 0 0 2675650 2737913 0 0 0 3192781 3191312 5868431 5929225 -907810 804147 48515149 49891717 6961037 6521725 41554112 43369992 THE MISSION OF COMMUNITY HOUSING INITIATIVES, INC. IS TO LEVERAGE AND MAXIMIZE OPPORTUNITIES FOR VIBRANT AND RESILIENT COMMUNITIES. 0 0 5112515 5374886 AFFORDABLE HOUSING:DEVELOP AND OPERATE AFFORDABLE RENTAL HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS, APPROXIMATELY 3,300 PERSONS BENEFITED; SERVING SENIORS, FAMILIES AND PERSONS WITH DISABILITIES.RESIDENT SERVICES:RESIDENT SERVICES HELPS RESIDENTS QUALIFY FOR RENTAL UNITS, AND THEN OVERCOME BARRIERS TO REMAIN SECURE IN THEIR HOUSING. THE CHI RESIDENT SERVICES TEAM PROVIDES THE FOLLOWING SERVICES: EVICTION PREVENTION, PHYSICAL AND MENTAL HEALTH LIASON, SUCCESSFUL FAMILIES, SUSTAINABLE PROPERTIES, COMMUNITY BUILDING AND COMMUNICATIONS SPECIALISTS. 5112515 1 1 0 1 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 103 0 1 44 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 1 1 X MARK VREEMAN 7122625640 328 GRAND AVENUE SPENCER IA 51301 SAMANTHA ERICKSON CHIEF OPERATING OFFICER 40.00 5.00 X 200248 0 27220 MARK VREEMAN CHIEF FINANCIAL OFFICER 40.00 5.00 X 146314 0 28968 DAVID BRIDGEWATER BOARD CHAIR 1.00 2.00 X X 0 0 0 TIM SHANAHAN BOARD VICE CHAIR 1.00 2.00 X X 0 0 0 JOHN ZULK BOARD TREASURER 1.00 2.00 X X 0 0 0 EMILY ZIMMON SECRETARY 1.00 2.00 X 0 0 0 PENNY CLAYTON DIRECTOR 1.00 2.00 X 0 0 0 DENISE FULLER DIRECTOR 1.00 2.00 X 0 0 0 ABBIE GAFFEY DIRECTOR 1.00 2.00 X 0 0 0 OMAR PADILLA DIRECTOR 1.00 2.00 X 0 0 0 LAUREN WHITE DIRECTOR 1.00 2.00 X 0 0 0 346562 0 56188 2 0 1 0 0 49808 552781 510931 505176 1113520 MANAGEMENT & DEVELOPME 531311 3416581 3416581 RENTAL INCOME 531110 1405324 1405324 LOAN INTEREST INCOME 531390 189494 189494 FORGIVENESS OF DEBT 900099 170000 170000 193487 193487 5374886 65206 65206 179760 0 179760 179760 179760 6733372 5374886 0 244966 402750 137165 265585 1738322 1641805 96517 172009 163073 8936 267866 257232 10634 156966 126860 30106 169996 169996 10089 8995 1094 49500 49500 76402 76402 16075 12992 3083 133654 108019 25635 138899 112258 26641 1201482 971035 230447 117778 95188 22590 3199 3199 196671 196671 889785 889785 10915 2095 8820 RESIDENT APPRECIATION E 3850 3112 738 FORMS & SUPPLIES 1994 1612 382 SUBSCRIPTION/PUBLICATIO 428 346 82 170595 137874 32721 5929225 5112515 816710 0 7760 7760 4530828 4115310 20526 39751 1648553 1835389 7446003 7277349 24589254 8391718 16582044 16197536 16439439 17679608 1839996 2739014 48515149 49891717 697673 787668 86893 72930 5802961 5581798 373510 79329 6961037 6521725 X 34162243 36622695 7391869 6747297 41554112 43369992 48515149 49891717 804147 1011733 0 X 0 1 X 1 1 1 X 1530894 1083882 1021176 503178 1113520 5252650 5824849 3991380 3933960 4273206 5374886 23398281 7355743 5075262 4955136 4776384 6488406 28650931 0 0 0 28650931 210103 198901 182737 184236 244966 1020943 210103 198901 182737 184236 244966 1020943 7565846 5274163 5137873 4960620 6733372 29671874 0.96560 0.96620 0.03440 0.03380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5929226 5929226 446461 111615 0 0 429687 443037 443422 446461 1762607 2643911 107422 110759 110856 111615 440652 660978 1682315 1682315 22821943 8306722 14515221 84996 84996 0 16197536 INVESTMENT IN AND ADVANCES TO PARTNERSHIPS 17679608 F 17679608 DEVELOPER FEES AND INTEREST RECEIVABLE 1601498 CONTRIBUTED RENTS RECEIVABLE 1116840 PREPAID EXPENSES 20676 2739014 SECURITY DEPOSITS 79329 79329 X 7745106 1011733 1011733 6733373 0 6733373 5929226 0 5929226 0 5929226 PART X, LINE 2: THE ORGANIZATIONS ARE REQUIRED TO ASSESS WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION ON THE TECHNICAL MERITS OF THE POSITION ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATIONS HAVE DETERMINED THERE ARE NO AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. X X 1 0 0 0 0 0 0 0 0 SAMANTHA ERICKSON CHIEF OPERATING OFFICER 186103 0 14120 0 25 0 17328 0 9892 0 227468 0 0 0 MARK VREEMAN CHIEF FINANCIAL OFFICER 135834 0 10455 0 25 0 13216 0 15752 0 175282 0 0 0 X 1 505176 FAIR MARKET VALUE 0 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN PART I COL B. FORM 990, PART VI, SECTION A, LINE 6 COMMUNITY HOUSING INITIATIVES, INC. HAS ONE CLASS OF MEMBERS. ANY PERSON ELECTED AS A MEMBER OF THE BOARD OF DIRECTORS OF THE CORPORATION UPPER DES MOINES OPPORTUNITY, INC. SHALL BY VIRTUE OF THAT ELECTION, AND WITHOUT OTHER QUALIFICATION ALSO BE A MEMBER OF COMMUNITY HOUSING INITIATIVES, INC. FORM 990, PART VI, SECTION A, LINE 7A UPPER DES MOINES OPPORTUNITY, INC. ELECTS THE DIRECTORS OF COMMUNITY HOUSING INITIATIVES, INC. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS FORWARDED TO THE FINANCE COMMITTEE FOR REVIEW AND DISCUSSION/COMMENT. THE FORM 990 IS THEN BROUGHT BEFORE THE BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS THROUGH REGULAR REVIEW OF VENDOR LISTS AND CASH DISBURSEMENT INTERNAL CONTROLS. BOARD MEMBERS AND OFFICERS ARE REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS. IF A CONFLICT ARISES, THE CONFLICT IS BROUGHT TO THE ATTENTION OF THE PRESIDENT AND THEN THE BOARD OF DIRECTORS IF MATERIAL. THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IS MATERIAL, AND IN THE PRESENCE OF AN EXISTING MATERIAL CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO THE ORGANIZATION. THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF THE ORGANIZATION AND THE ADVANCEMENT OF ITS PURPOSE. FORM 990, PART VI, SECTION B, LINE 15A IN ADDITION TO CONDUCTING ANNUAL WRITTEN PERFORMANCE EVALUATIONS, THE ORGANIZATION USES THE NEIGHBORWORKS AMERICA AND NONPROFIT TIMES ANNUAL SALARY SURVEYS TO GUIDE SETTING OF THE COMPENSATION FOR THE PRESIDENT AND OTHER KEY EMPLOYEES. THE REFERENCED SALARY SURVEYS ARE AVAILABLE TO THE ORGANIZATION ON AN ANNUAL BASIS. IN ADDITION TO THE TWO STUDIES MENTIONED ABOVE, COMMUNITY HOUSING INITIATIVES, INC. HAD A COMPENSATION STUDY PERFORMED BY VERISIGHT IN DECEMBER 2020. COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION FOR THE OTHER OFFICERS IS REVIEWED AND APPROVED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. 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COMMUNITY HOUSING INITIATIVES INC RELATED -3 80541 0 1 0.00010 CHI EASTWOOD INC PO BOX 473 SPENCER IA 51301 271563813 AFFORDABLE HOUSING IA COMMUNITY HOUSING INITIATIVES INC C -24 -379 1.00000 1 CHI GP INC PO BOX 473 SPENCER IA 51301 261581105 AFFORDABLE HOUSING IA COMMUNITY HOUSING INITIATIVES INC C -221 2356961 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LAKEWOOD COURT LP D 132733 FMV MARSH PLACE LP D 400000 FMV MAPLECREST APARTMENTS LP D 118627 FMV RIVER CITY LP D 683000 FMV THORNBURY WAY LP D 334000 FMV CENTURY PLAZA LP D 78000 FMV HAMILTON KNOLLS LP D 60000 FMV PRAIRIE TOWNHOMES LP D 56000 FMV QUARTON PLACE 2 LP D 360000 FMV ADEL ASSISTED LIVING D 495188 FMV VAN ALLEN LP D 400000 FMV COMMUNITY HOMES LP D 485000 FMV WASHINGTON COURT LP D 76000 FMV OLD SPENCER SCHOOL LLLP D 855000 FMV 125 9TH STREET LLLP D 448306 FMV SCHEDULE R CHI GP, INC. #26-1581105 IN ACCORDANCE WITH SECTION 168(H)(6)(F)(II) OF THE INTERNAL REVENUE CODE, ALL TAX-EXEMPT ENTITIES HOLDING A CONTROLLING INTEREST IN THE TAXPAYER HEREBY ELECT TO TREAT ANY GAIN RECOGNIZED ON ANY DISPOSITION OF SUCH INTEREST (AND ANY DIVIDEND RECEIVED OR ACCRUED BY THE TAX-EXEMPT ENTITY FROM THE CONTROLLED ENTITY) AS UNRELATED TAXABLE INCOME FOR PURPOSES OF SECTION 511 OF THE INTERNAL REVENUE CODE.