2024-11-15T09:01:08-08:00 2023-12-31 993512182 Bement & Company 380 N 200 W Ste 112 Bountiful UT 84010 990 2023-01-01 830297131 JACKSON HOLE COMMUNITY HOUSING TRUST JACK 3077390665 PO BOX 4498 JACKSON WY 83001 ANNE HAYDEN CRESSWELL Executive Director 2024-11-15 true true BRENT J BEMENT P01259774 8019361900 2023 2024-10-15 13:58:12Z ANNE CRESSWELL PO BOX 4498 JACKSON WY 83001 16520532 false X WWW.HOUSINGTRUSTJH.ORG X 1991 WY SEE SCHEDULE O 11 11 5 0 9621511 10509509 847802 881620 -2516030 -1267148 0 7953283 10123981 0 0 748250 765927 0 376068 1181533 1326833 1929783 2092760 6023500 8031221 35506842 43371552 5981128 5814617 29525714 37556935 SEE SCHEDULE O false false 1014518 728006 Jackson Hole Commuinty Housing Trust (The Housing Trust) owns and manages 34 affordable rental units in Jackson, WY: 28 units at Redmond Street Rentals was developed by the Housing Trust in 2018; two units at 630 East Kelly and 3950 W Pony were donated to the Housing Trust in 2023; and a four unit apartment building located at 225 East Hansen, along with additional land at 235 East Hansen which is affordably leased to seven mobile homeowners, was acquired in 2021. The Housing Trust is responsible for the annual re-qualification of each household, lease preparation and execution as well as the financial management of all aspects of the property, including the procurement and payment of utilities, insurance, negotiating contracts with snow removal and landscaping partners and annual budgeting. The Housing Trust is also responsible for the replacement reserves for each rental development, as well as maintenance of each property. In addition, each time a rental unit turns over, Housing Trust staff facilitates the re-leasing of the unit and selects a new income qualified tenant to lease the unit for a minimum 12-month term. 442673 182606 Since 1991, the Housing Trust has developed or acquired 150 homes for sale. The affordability of each home is protected in perpetuity by a 99-year ground lease or special restriction recorded against the property. Central to the stewardship of these assets are the management and administration of the restriction associated with each home. In concert with this scope of work, staff ensures that the Housing Trust legal, financial and lending guidelines are current with federal requirements. In addition, each time a Housing Trust home is sold or re-sold, Housing Trust staff works to ensure every buyer is income qualified and educated about deed restricted housing and then successfully facilitates the sale. To quickly facilitate the lease or sale of an affordable home, the Housing Trust actively manages a growing database of income-qualified applicants - currently near 1,500 active household applications. Every applicant to the Housing Trust program is required to complete a comprehensive application in order to be considered for an affordable housing opportunity. As the need for affordable housing in Teton County grows, the Housing Trust works to add to its inventory of affordable housing for rent and for sale. As a not-for-profit developer of affordable housing this scope includes, but is not limited to, land acquisition; preconstruction due diligence; financial analysis; coordinating architects, engineers, and contractors; budget development and fundraising. In 2023, the Housing Trust's development efforts were focused on the development of 20 affordable homes at 620 East Hansen. Specifically, Housing Trust staff worked to finalize the site and unit design, develop a comprehensive project budget, secure construction financing, and fundraise the subsidy required to ensure the homes are affordable for income qualified buyers. All pre-development efforts were driving toward a spring 2024 groundbreaking. 1457191 true true false false false false false false false false true false false true true true false false false false false false false false false false false false false true false false false false false false false false true false false false true false false false false true 29 0 true 5 true false false false false false false false 0 false false false false false false false X 11 11 false false false false false false false true true false false true true true true true true true true false X X ANNE HAYDEN CRESSWELL 3077390665 PO BOX 4498 JACKSON WY 830014498 ANNE CRESSWELL Executive Dir. 40.00 0.00 X 174800 0 5244 LANNIE HOGLUND Director 0.50 0.00 X 0 0 0 ALEXIS DITTMER Vice President 1.00 0.00 X X 0 0 0 ETHAN STEINBERG Director 0.50 0.00 X 0 0 0 JULIE FERGUSON Director 0.50 0.00 X 0 0 0 DALE HOYT Secretary 1.00 0.00 X X 0 0 0 VAN DAVIS Director 0.50 0.00 X 0 0 0 BERTE HIRSCHFIELD President 1.00 0.00 X X 0 0 0 JOHN D MILLHAM Director 0.50 0.00 X 0 0 0 DEBORAH RAMO Director 0.50 0.00 X 0 0 0 AMY MINELLA Treasurer 1.00 0.00 X X 0 0 0 SHELLY HOLLAND Director 0.50 0.00 X 0 0 0 174800 5244 1 false true false NORTHWORKS 185 EAST HANSEN AVENUE JACKSON WY 83001 ARCHITECTURE 511072 NEW WEST BUILDING COMPANY 3520 S PARK DR JACKSON WY 83001 PROJECT SITE PREPARATION 302042 NORTHSTAR SYSTEMBUILT LLC 203 INDUSTRIAL DRIVE REDWOOD FALLS MN 56283 CONSTRUCTION DEPOSIT 184475 L & L PC 960 ALPINE LANE UNIT 2 JACKSON WY 83002 ACCOUNTING 116200 4 347146 50000 10112363 8841000 10509509 APPLICATION FEES 4449 4449 GROUND LEASE FEES 123975 123975 MANAGEMENT FEE 16008 16008 OTHER FEES 5622 5622 RENTAL INCOME 728006 728006 3560 3560 881620 42310 42310 0 0 0 842093 4245000 842093 5554458 -1309458 -1309458 -510536 -798922 0 0 0 0 10123981 371084 -756612 0 0 0 0 180044 72018 27007 81019 0 454765 295782 71285 87698 18568 10786 2876 4906 46615 28026 7244 11345 65935 38300 10212 17423 21432 21432 8011 387 7624 136413 7650 78278 50485 0 0 0 3872 3872 100570 100570 43998 21999 15399 6600 11036 5518 2759 2759 0 30480 15240 7620 7620 16 16 0 0 192468 192468 0 411220 394290 11287 5643 69587 57348 12239 GROUND LEASE EXPENSE 125211 125211 REPAIRS & MAINTENANCE 99368 99368 NORTH KING ST. DEVLPMT REPAIRS 34436 34436 RENTAL UNIT UTILITIES 26566 26566 12149 10366 1783 2092760 1457191 259501 376068 X 0 3700776 2394350 27925 577734 0 0 0 0 0 42919 237945 35610185 2011031 25440923 33599154 1333214 0 0 46000 35600 6248299 5193555 35506842 43371552 159560 92293 638773 575461 3570534 3475785 1612261 1671078 5981128 5814617 X 22426216 24893378 7099498 12663557 29525714 37556935 35506842 43371552 8031221 X true X false true false X 346708 2347619 11016826 9621511 10509509 33842173 0 0 346708 2347619 11016826 9621511 10509509 33842173 20311773 13530400 2756 9020 1191 3355 42310 58632 0 0 33900805 15852979 0.39910 0.74230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24206326 24206326 11240124 1925308 9314816 88913 31358 57555 16941 10954 5987 57881 43411 14470 33599154 620 EAST HANSEN CORNER CAPITALIZED COST 707940 HMEOWNR MORTGE SPRT RECVBLE-PRM RSTRICTD 111070 HORSE CREEK CAPITALIZED COSTS 226812 LAND & HOUSE HELD FOR SALE NPS NELSON DR. CAPITALIZED COSTS 191486 RIGHT OF USE ASSET 840657 5193555 LEASE LIABILITY 1591832 SECURITY DEPOSITS 79246 1671078 X 10094742 -29239 -29239 10123981 10123981 1986502 1986502 106258 106258 2092760 Part X : FIN48 Footnote THE HOUSING TRUST HAS NO UNRECOGNIZED TAX BENEFITS AND NO UNCERTAIN TAX POSITIONS FOR THE YEAR. Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S DEPRECIATION RENTAL UNITS - RSR $100961 DEPRECIATION RENTAL UNITS - HANSEN $-1516 DEPRECIATION RENTAL UNITS - KELLY $2426 DEPRECIATION RENTAL UNITS - PONY $4387 X X X X false false false false false false false false false ANNE CRESSWELL Executive Dir. 166667 3333 4800 5244 180044 X 3 8841000 APPRAISAL false false false Form 990, Part VI, Section B, Line 11b Draft of Form 990 is provided to the Executive Director as well as to the Housing Trust's CPA for review and approval in advance of the extended due date of the tax return. All staff questions are answered and addressed by requisite consultants as appropriate. Recommended changes are then incorporated into the final tax return which is filed by the extended due date. The final Form 990 is presented by the Housing Trust's CPA to the full Board at the next regularly scheduled meeting of the Board of Directors. Form 990, Part VI, Section B, Line 12c EACH FISCAL YEAR, EACH DIRECTOR WILL MAKE A FULL, WRITTEN DISCLOSURE OF INTERESTS, RELATIONSHIPS, AND HOLDINGS THAT COULD POTENTIALLY RESULT IN A CONFLICT OF INTEREST. IN THE COURSE OF MEETINGS OF THE BOARD, EACH DIRECTOR IS REQUIRED TO DISCLOSE ANY INTEREST IN A TRANSACTION WHERE THERE COULD BE A CONFLICT OF INTEREST. THE DIRECTOR WILL NOT BE PERMITTED TO VOTE ON THE QUESTION AND THE DIRECTOR WILL BE ASKED TO LEAVE THE ROOM FOR THE FINAL DISCUSSION. ALL NAMES, DISCLOSURES AND DISCUSSION POINTS AND DECISIONS ARE RECORDED IN THE MEETING MINUTES. Form 990, Part VI, Section B, Line 15a THE BOARD OF DIRECTORS IS REQUIRED TO ADHERE TO THE FOLLOWING PROCESS WHEN REVIEWING AND APPROVING THE COMPENSATION PACKAGE OF THE EXECUTIVE DIRECTOR: ALL DECISION MAKERS OF THE BOARD MUST BE IMPARTIAL AND MUST NOT HAVE A CONFLICT OF INTEREST WITH THE EMPLOYEE; THE BOARD MUST RELY ON COMPARABILITY DATA THAT DEMONSTRATES THE FAIR MARKET VALUE OF THE COMPENSATION OF SIMILARLY QUALIFIED INDIVIDUALS IN LIKE POSITIONS AT LIKE ORGANIZATIONS; THE BOARD MUST DOCUMENT HOW IT REACHED ITS DECISIONS, THE TERMS OF THE COMPENSATION PACKAGE, THE DATE APPROVED AND THE MEMBERS OF THE BOARD WHO PARTICIPATED IN THE DISCUSSION AND FINAL DECISION. MINUTES MUST INCLUDE THE DATA ON WHICH THE BOARD RELIED. Form 990, Part VI, Section B, Line 15b THE BOARD OF DIRECTORS IS REQUIRED TO ADHERE TO THE FOLLOWING PROCESS WHEN REVIEWING AND APPROVING THE COMPENSATION PACKAGE OF ANY OTHER HIGHLY COMPENSATED EMPLOYEE: ALL DECISION MAKERS OF THE BOARD MUST BE IMPARTIAL AND MUST NOT HAVE A CONFLICT OF INTEREST WITH THE EMPLOYEE; THE BOARD MUST RELY ON COMPARABILITY DATA THAT DEMONSTRATES THE FAIR MARKET VALUE OF THE COMPENSATION OF SIMILARLY QUALIFIED INDIVIDUALS IN LIKE POSITIONS AT LIKE ORGANIZATIONS; THE BOARD MUST DOCUMENT HOW IT REACHED ITS DECISIONS, THE TERMS OF THE COMPENSATION PACKAGE, THE DATE APPROVED AND THE MEMBERS OF THE BOARD WHO PARTICIPATED IN THE DISCUSSION AND FINAL DECISION. MINUTES MUST INCLUDE THE DATA ON WHICH THE BOARD RELIED. Form 990, Part VI, Section C, Line 19 THE FOLLOWING DOCUMENTS OF THE ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST: FORM 1023 APPLICATION OF EXEMPTION, IRS DETERMINATION LETTER OF EXEMPTION, ANY AND ALL FORM 990'S, THE CONFLICT OF INTEREST POLICY OF THE ORGANIZATION, ARTICLES OF INCORPORATION, AND THE BYLAWS. FORM 990, PART I LINE 1 & PART III LINE 1 - ORGANIZATION'S MISSION JACKSON HOLE COMMUNITY HOUSING TRUST (HOUSING TRUST) IS DEDICATED TO THE PROVISION, MANAGEMENT AND ADMINISTRATION OF AFFORDABLE RENTAL AND OWNERSHIP HOUSING IN TETON COUNTY, WYOMING AND LESSENING THE BURDEN OF GOVERNMENT FOR ANY GOVERNMENTAL ENTITY THAT DETERMINES ASSISTING ITS EMPLOYEES AND RELATED SUPPORTIVE PERSONNEL TO OBTAIN OWNERSHIP AND RENTAL HOUSING OPPORTUNITIES IS A GROWING BURDEN OF SUCH GOVERNMENTAL ENTITY AND PART OF ITS GOVERNMENTAL FUNCTION, AND THAT THERE IS A STRONG NEED FOR THE ASSISTANCE OF THE HOUSING TRUST IN MEETING SUCH NEED. REDMOND STREET RENTALS LLC PO BOX 4498 JACKSON WY 83001 820884048 AFFORDABLE HOUSING LEASING WY 573106 8909337 JACKSON HOLE COMMUNITY HOUSING TRUST false false false false false false false false false false false false false false false false false false false