2024-11-15T12:37:48-06:00 2024-06-30 310800053 CLARK SCHAEFER HACKETT & CO 3505 COOLIDGE RD EAST LANSING MI 48823 990 2023-07-01 113829932 NEIGHBORHOOD CAPITAL FUNDING INC NEIG 5174851006 618 S CREYTS RD SUITE C LANSING MI 48917 DANIEL LYNCH CEO 5174851006 2024-11-15 1 0 KRISTI L LEETH P00182413 5173515508 2024-11-15 2023 2024-10-15 13:58:12Z AFFILIATE MORTGAGE SERVICES INC DANIEL LYNCH 618 S CREYTS RD SUITE C LANSING MI 48917 1798915 0 X WWW.AFFILIATEMTG.ORG X 2007 MI TO PROVIDE MORE AFFORDABLE LOAN ORIGINATION AND/OR LOAN SERVICING TO HABITAT FOR HUMANITY AFFILIATES IN MICHIGAN AND 24 OTHER STATES. 9 8 14 8 0 0 78 0 1576648 1745945 58539 52970 0 0 1635265 1798915 0 0 0 0 797336 881595 0 0 0 814948 919471 1612284 1801066 22981 -2151 15101929 17415082 13957427 16272731 1144502 1142351 TO MAKE/SERVICE BELOW-MARKET-RATE MORTGAGE LOANS TO PRIMARILY LOW INCOME PERSONS WHO PURCHASE HOMES BUILT BY HABITAT FOR HUMANITY. 0 0 1295146 1745945 NEIGHBORHOOD CAPITAL FUNDING, AKA AFFILIATE MORTGAGE SERVICES, ORIGINATES, PROCESSES, CLOSES, AND SERVICES MORTGAGES FOR HOMEBUYERS OF HABITAT AFFILIATE HOMES. THESE LOANS ARE THEN ASSIGNED TO THE AFFILIATE TO PRODUCE REVENUE IN THE FORM OF PRINCIPAL-ONLY INCOME FOR THATAFFILIATE. THE AFFILIATE MAY ALSO SELL THESE MORTGAGES TO INVESTORS IN THE SECONDARY MARKET, ALLOWING THE AFFILIATE ACCESS TO CAPITAL TO PRODUCE MORE HOMES. DURING FISCAL YEAR 24, AFFILIATE MORTGAGE SERVICES CLOSED 13 HABITAT FOR HUMANITY MORTGAGES AND ENDED THE YEAR WITH A SERVICING PORTFOLIO OF 9,392 HABITAT LOANS 1295146 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 10 0 1 14 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X DANIEL LYNCH 5174851006 618 S CREYTS RD SUITE C LANSING MI 48917 NANCY PELLEGRINI DIRECTOR 1.00 X 0 0 0 GARY LADUE DIRECTOR 1.00 X 0 0 0 DON WILKINSON DIRECTOR 1.00 X 0 0 0 JOHN WILLIAMS DIRECTOR 1.00 X 0 0 0 DANIEL LYNCH CEO 40.00 X X 193719 0 12707 ERIC HANNA CHAIR 1.00 X X 0 0 0 ADAM FISHKIND VICE CHAIR 1.00 X X 0 0 0 KATEY FORTH SECRETARY 1.00 X X 0 0 0 JEFF HANSON TREASURER 1.00 X X 0 0 0 CATHERINE OVERWAY COO 40.00 X 144318 0 10973 338037 0 23680 2 0 1 0 DOXIM IDS LLC PO BOX 933472 CLEVELAND OH 44193 MORTGAGE STATEMENTS AND ENVELOPES 148164 1 SERVICING INCOME 900099 1452439 1452439 PROCESSING FEES 518210 259287 259287 ORIGINATION INCOME 900099 34219 34219 1745945 52970 52970 1798915 1745945 0 52970 361717 209491 152226 415979 240825 175154 45150 26291 18859 58749 36743 22006 10815 10815 43100 43100 46496 46496 67995 63660 4335 93168 67984 25184 67909 54335 13574 41592 33881 7711 25184 22656 2528 52992 52970 22 26061 20851 5210 33835 19702 14133 MORTGAGE SERVICING 282672 282672 MORTGAGE ORIGINATING 80866 80866 PAYROLL PROCESSING FEE 19506 11358 8148 LICENSING & REGISTRATIO 17654 17654 9626 6711 2915 1801066 1295146 505920 0 1269584 1318132 11782753 14240692 134277 167746 1796849 1598969 56708 39601 217872 167930 61758 49942 15101929 17415082 120905 122021 94673 84168 11782753 14240692 1959096 1825850 13957427 16272731 X 1144502 1142351 1144502 1142351 15101929 17415082 -2151 0 X 0 1 X 1 0 X 76063 38864 2531 78 0 117536 1487770 1608108 1607894 1576648 1745945 8026365 1563833 1646972 1610425 1576726 1745945 8143901 0 227147 236421 237360 229777 256330 1187035 227147 236421 237360 229777 256330 1187035 6956866 75457 75737 65480 58539 52970 328183 75457 75737 65480 58539 52970 328183 41 41 1639290 1722750 1675905 1635265 1798915 8472125 0.82110 0.80340 0.03870 0.04410 X 0 1 X 102927 66405 36522 114945 101525 13420 49942 1798915 0 1798915 0 1798915 1801066 0 1801066 0 1801066 PART IV, LINE 2B: DURING THE SERVICING OF MORTGAGE LOANS, THE ORGANIZATION COLLECTS MONTHLY PAYMENTS FROM MORTGAGORS THAT ARE, OR WILL BE DUE TO THE MORTGAGE OWNERS OR TO THIRD PARTIES. THE AMOUNTS COLLECTED CONSIST OF PRINCIPAL, INTEREST, REAL ESTATE TAXES AND PROPERTY INSURANCE. THESE COLLECTIONS ARE PLACED IN CUSTODIAL BANK ACCOUNTS IN THE NAME OF THE ORGANIZATION IN TRUST FOR MORTGAGORS AND DISBURSED WHEN PAYMENTS ARE DUE TO THIRD PARTIES. THE ORGANIZATION TRANSFERS THE PRINCIPAL AND INTEREST PORTION OF THE PAYMENTS COLLECTED TO THE OWNERS OF THE RELATED MORTGAGES BY THE 10TH BUSINESS DAY OF THE MONTH FOLLOWING THE MONTH COLLECTED. THE TAX, INSURANCE AND ANY MISCELLANEOUS AMOUNTS COLLECTED ARE HELD BY THE ORGANIZATION UNTIL PAYMENT IS DUE TO THE THIRD PARTY. UNDISBURSED FUNDS ARE RECORDED AS AN ASSET AND AN OFFSETTING LIABILITY ON THE ORGANIZATION'S FINANCIAL STATEMENTS. 1 X X X X 0 0 0 0 0 0 0 0 0 DANIEL LYNCH CEO 193719 0 0 0 0 0 5872 0 6835 0 206426 0 0 0 CATHERINE OVERWAY COO 144318 0 0 0 0 0 4810 0 6163 0 155291 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS RECEIVED BY THE ORGANIZATION'S CEO WHO REVIEWS THE RETURN FOR ACCURACY. UPON THE CEO'S APPROVAL, THE 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS. AFTER ANY CONCERNS PRESENTED BY THE BOARD ARE ADDRESSED, THE CEO SIGNS AND FILES THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS, OFFICERS AND COMMITTEE MEMBERS ARE REQUIRED ANNUALLY TO SIGN A STATEMENT WHICH AFFIRMS THAT THEY HAVE A COPY OF THE CONFLICT OF INTEREST POLICY, HAVE READ AND UNDERSTAND THE POLICY AND AGREE TO COMPLY WITH THE POLICY. IN ADDITION, THE POLICY GIVES THE ORGANIZATION THE RIGHT TO CONDUCT PERIODIC REVIEWS AT THEIR DISCRETION. WHEN CONFLICTS OF INTEREST ARE REVIEWED AND APPROVED BY THE BOARD, ONLY THE MEMBERS NOT HAVING THE CONFLICT ARE ABLE TO VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION OF THE CEO AND DETERMINES WHAT IS APPROPRIATE GIVEN THEIR LEVEL AND EXPERIENCE. THEY COMPARE THESE SALARIES WITH THOSE OF COMPARABLE POSITIONS IN THE FOR-PROFIT MARKET. THE LAST COMPENSATION REVIEW WAS PERFORMED IN AUGUST 2022 BY THE CHAIRMAN AND THE NCF EXECUTIVE COMMITTEE. THE CEO REVIEWS THE COMPENSATION OF THE COO AND DETERMINES WHAT IS APPROPRIATE GIVEN THEIR LEVEL AND EXPERIENCE. THEY COMPARE THESE SALARIES WITH THOSE OF COMPARABLE POSITIONS IN THE FOR-PROFIT MARKET. A COMPENSATION REVIEW IS PERFORMED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 ALL INFORMATION IS AVAILABLE UPON REQUEST. FORM 990 IS ALSO POSTED ANNUALLY ON GUIDESTAR'S WEBSITE. THE 990 IS PUBLIC INFORMATION THROUGH THE MICHIGAN ATTORNEY GENERAL'S OFFICE. HFHM FINANCIAL LLC 618 CREYTS RD SUITE C LANSING MI 48917 113829932 PURCHASE AND HOLD MORTGAGE LOANS MI -1413 1949953 NEIGHBORHOOD CAPITAL FUNDING INC