2025-10-12T18:57:36-07:00 2024-12-31 990 2024-01-01 851862923 THE HOME FUND INC HOME 4077947500 1800 PEMBROOK DRIVE SUITE 300 ORLANDO FL 328106378 KAREN BOBB CHIEF FINANCIAL OFFICER 4077947500 2025-10-06 1 2024 2025-03-06 01:10:19Z KAREN BOBB 1800 PEMBROOK DRIVE SUITE 300 ORLANDO FL 328106378 60000 0 X WWW.THEHOMEFUND.ORG X 2020 FL TO ADVANCE SOLUTIONS THAT USE HOUSING DEVELOPMENT AS A PLATFORM FOR SERVICES TO IMPROVE THE LIVES OF THE MOST VULNERABLE PEOPLE AND BUILD HEALTHY COMMUNITIES; TO MANAGE AS AN ENTITY OR DIRECT ENTITIES ORGANIZED FOR THE PURPOSE OF CREATING STABLE, VIBRANT AND HEALTHY COMMUNITIES BY DEVELOPING, FINANCING, AND OPERATING AFFORDABLE, PROGRAM-ENRICHED HOUSING FOR FAMILIES, SENIORS, AND PEOPLE WITH SPECIAL NEEDS WHO LACK THE ECONOMIC RESOURCES TO ACCESS QUALITY, SAFE HOUSING OPPORTUNITIES; THE HOME FUND INC., EITHER DIRECTLY OR INDIRECTLY, WILL SUPPORT OR FOSTER THE DEVELOPMENT, ACQUISITION, FINANCING, OPERATION AND MANAGEMENT OF QUALITY, AFFORDABLE PROGRAM-ENRICHED HOUSING FOR LOW AND MODERATE INCOME PERSONS. X 3 3 0 3 0 0 50000 60000 0 0 0 0 0 0 50000 60000 0 0 0 0 0 0 0 0 0 50000 60000 50000 60000 0 0 870000 0 0 0 870000 0 THE HOME FUND INC WILL PROVIDE LOW-INCOME HOUSING ASSISTANCE AND AFFORDABLE HOUSING OPPORTUNITIES TO INDIVIDUALS AND FAMILIES. THE ORGANIZATION WILL ACQUIRE AND MANAGE RESIDENTIAL PROPERTIES TO FULFILL ITS MISSION OF EXPANDING AND ENSURING SAFE, AFFORDABLE HOUSING. 0 0 60000 60000 DEVELOPMENT - THE HOME FUND INC. IS A NONPROFIT AFFORDABLE HOUSING DEVELOPER.THE HOME FUND INC. SERVES AS AN INTEGRAL PART OF THE PROCESS OF DEVELOPING AFFORDABLE HOUSING FOR LOW INCOME, HOMELESS, ELDERLY AND DISABLED ADULTS AND FAMILIES IN FLORIDA AND THE SOUTHEASTERN UNITED STATES. THE HOME FUND INC. CONTINUES TO MAINTAIN ITS PROPERTIES FOR DEVELOPMENT OF NEW HOME CONSTRUCTION AND SEARCHES FOR DEVELOPABLE LAND OR SITES FOR THE PRESERVATION OF AFFORDABLE HOUSING. 0 0 0 60000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X X KAREN BOBB 4077947500 1800 PEMBROOK DRIVE SUITE 300 ORLANDO FL 328106378 X MARV BUCHANAN DIRECTOR 5 5 X 0 0 0 COLIN COURTEN DIRECTOR 5 5 X 0 0 0 VIVI GILLESPIE DIRECTOR 5 5 X 0 0 0 SHARON DORAN EXECUTIVE DIRECTOR 15.00 15.00 X 0 0 0 KAREN BOBB CHIEF FINANCIAL OFFICER 60 60 X 0 0 0 MARVIN WEEKS CHIEF EXECUTIVE OFFICER 15 15 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 60000 0 60000 0 0 0 0 0 0 0 60000 0 0 0 14000 14000 1450 1450 6000 6000 550 550 38000 38000 60000 60000 0 0 0 0 870000 0 870000 0 0 0 X 0 0 870000 0 0 0 870000 0 870000 0 X 0 0 0 0 0 -870000 X 0 0 0 X 40000 500000 95000 50000 60000 745000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40000 500000 95000 50000 60000 745000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 745000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40000 500000 95000 50000 60000 745000 1 1 0 0 X Schedule A, Part III, Line 1 IN TAX YEAR 2021, THE ORGANIZATION RECEIVED SIGNIFICANT NON-CASH GIFTS OF REAL PROPERTY FROM GARY ALLEN CHESTNUT AND CORNELL RANDALL IRONS, BOTH SUBSTANTIAL CONTRIBUTORS. THESE CONTRIBUTIONS WERE INCLUDED IN THE TOTAL CONTRIBUTIONS REPORTED FOR 2021 ON SCHEDULE A, PART III, LINE 1. SUBSEQUENTLY, THESE ASSETS WERE RETURNED TO THE ORIGINAL DONORS IN TAX YEAR 2024. THE RETURN OF THESE PROPERTIES IS BEING REPORTED AS A DISPOSITION OF ASSETS ON SCHEDULE N AND AS A CHANGE IN NET ASSETS ON FORM 990, PART XI, LINE 9, WITH FURTHER EXPLANATION ON SCHEDULE O. THE RETURN DOES NOT AFFECT THE CALCULATION OF PUBLIC SUPPORT FOR THE 2021 TAX YEAR OR THE CURRENT FIVE-YEAR PERIOD. FOR ADDITIONAL DETAILS REGARDING THE DISPOSITION OF THE REAL PROPERTY RETURNED TO THE ORIGINAL DONORS, PLEASE REFER TO THE INFORMATION PROVIDED ON SCHEDULE N, PART III, AND SCHEDULE O. THE INFORMATION PROVIDED DESCRIBE THE PROPERTIES, THE NATURE OF THE TRANSACTION, AND THE MANAGER INVOLVED. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED GARY ALLEN CHESTNUT SUBSTANTIAL CONTRIBUTOR ITEM 1: RETURN OF DONATED REAL PROPERTY TO ORIGINAL DONOR GARY ALLEN CHESTNUT (SUBSTANTIAL CONTRIBUTOR) FOR PROPERTY LOCATED AT LEONARD ST, ALTAMONTE SPRINGS, FL 32701. DISPOSITION FMV $290,000. TRANSACTION SIGNED BY PRESIDENT KAREN BOBB. NO EXCESS BENEFIT WAS PROVIDED. 1 GARY ALLEN CHESTNUT SUBSTANTIAL CONTRIBUTOR ITEM 2: RETURN OF DONATED REAL PROPERTY TO ORIGINAL DONOR GARY ALLEN CHESTNUT (SUBSTANTIAL CONTRIBUTOR) FOR PROPERTY LOCATED AT MERRITT ST, ALTAMONTE SPRINGS, FL 32701. DISPOSITION FMV $290,000. TRANSACTION SIGNED BY PRESIDENT KAREN BOBB. NO EXCESS BENEFIT WAS PROVIDED. 1 CORNELL RANDALL IRONS SUBSTANTIAL CONTRIBUTOR ITEM 3: RETURN OF DONATED REAL PROPERTY TO ORIGINAL DONOR CORNELL RANDALL IRONS (SUBSTANTIAL CONTRIBUTOR) FOR PROPERTY LOCATED AT STATION ST, ALTAMONTE SPRINGS, FL 32701. DISPOSITION FMV $290,000. TRANSACTION SIGNED BY PRESIDENT KAREN BOBB. NO EXCESS BENEFIT WAS PROVIDED. 1 0 0 ITEM 1: RETURN OF REAL PROPERTY TO DONOR GARY ALLEN CHESTNUT. LOCATION: LEONARD ST, ALTAMONTE SPRINGS, FL 32701. DISPOSITION FMV $290,000. 2024-11-12 290000 COMPARABLE SALES. VALUATION BASED ON RECENT SALES OF SIMILAR PROPERTIES IN THE SAME GEOGRAPHICAL AREA. INTERNAL DOCUMENTATION INCLUDES A LIST OF COMPARABLE PROPERTIES, THEIR SALE PRICES, AND ADJUSTMENTS MADE FOR DIFFERENCES TO DETERMINE THE $290,000 FMV. GARY ALLEN CHESTNUT RETURN OF REAL PROPERTY TO DONOR GARY ALLEN CHESTNUT. LOCATION: MERRITT ST, ALTAMONTE SPRINGS, FL 32701. DISPOSITION FMV $290,000. 2024-11-12 290000 COMPARABLE SALES. VALUATION BASED ON RECENT SALES OF SIMILAR PROPERTIES IN THE SAME GEOGRAPHICAL AREA. INTERNAL DOCUMENTATION INCLUDES A LIST OF COMPARABLE PROPERTIES, THEIR SALE PRICES, AND ADJUSTMENTS MADE FOR DIFFERENCES TO DETERMINE THE $290,000 FMV. GARY ALLEN CHESTNUT RETURN OF REAL PROPERTY TO DONOR CORNELL RANDALL IRONS. LOCATION: STATION ST, ALTAMONTE SPRINGS, FL 32701. DISPOSITION FMV $290,000. 2024-11-12 290000 COMPARABLE SALES. VALUATION BASED ON RECENT SALES OF SIMILAR PROPERTIES IN THE SAME GEOGRAPHICAL AREA. INTERNAL DOCUMENTATION INCLUDES A LIST OF COMPARABLE PROPERTIES, THEIR SALE PRICES, AND ADJUSTMENTS MADE FOR DIFFERENCES TO DETERMINE THE $290,000 FMV. CORNELL RANDELL IRONS 0 0 0 0 Schedule N, Part II, Line 1 ITEM 1: TRANSACTION INVOLVES THE RETURN OF PREVIOUSLY DONATED REAL PROPERTY LOCATED AT LEONARD ST, ALTAMONTE SPRINGS, FL 32701, TO THE ORIGINAL DONOR, GARY ALLEN CHESTNUT, A SUBSTANTIAL CONTRIBUTOR. THE PROPERTY WAS DONATED IN 2021 WITH AN ACQUISITION VALUATION OF $166,666. THE RETURN TRANSACTION OCCURRED IN 2024 WITH A DISPOSITION FAIR MARKET VALUE (FMV) OF $290,000. THIS IS A CASHLESS PROPERTY TRANSFER CORRECTING THE ORGANIZATION'S RETENTION OF THE ASSET. PRESIDENT KAREN BOBB SIGNED THE DEED. NO EXCESS BENEFIT WAS PROVIDED TO THE DONOR. ITEM 2: TRANSACTION INVOLVES THE RETURN OF PREVIOUSLY DONATED REAL PROPERTY LOCATED AT MERRITT ST, ALTAMONTE SPRINGS, FL 32701, TO THE ORIGINAL DONOR, GARY ALLEN CHESTNUT, A SUBSTANTIAL CONTRIBUTOR. THE PROPERTY WAS DONATED IN 2021 WITH AN ACQUISITION VALUATION OF $166,666. THE RETURN TRANSACTION OCCURRED IN 2024 WITH A DISPOSITION FAIR MARKET VALUE (FMV) OF $290,000. THIS IS A CASHLESS PROPERTY TRANSFER CORRECTING THE ORGANIZATION'S RETENTION OF THE ASSET. PRESIDENT KAREN BOBB SIGNED THE DEED. NO EXCESS BENEFIT WAS PROVIDED TO THE DONOR. ITEM 3: TRANSACTION INVOLVES THE RETURN OF PREVIOUSLY DONATED REAL PROPERTY LOCATED AT STATION ST, ALTAMONTE SPRINGS, FL 32701, TO THE ORIGINAL DONOR, CORNELL RANDALL IRONS, A SUBSTANTIAL CONTRIBUTOR. THE PROPERTY WAS DONATED IN 2021 WITH AN ACQUISITION VALUATION OF $166,666. THE RETURN TRANSACTION OCCURRED IN 2024 WITH A DISPOSITION FAIR MARKET VALUE (FMV) OF $290,000. THIS IS A CASHLESS PROPERTY TRANSFER CORRECTING THE ORGANIZATION'S RETENTION OF THE ASSET. PRESIDENT KAREN BOBB SIGNED THE DEED. NO EXCESS BENEFIT WAS PROVIDED TO THE DONOR. Form 990, Part I, Line 1 TO ADVANCE SOLUTIONS THAT USE HOUSING DEVELOPMENT AS A PLATFORM FOR SERVICES TO IMPROVE THE LIVES OF THE MOST VULNERABLE PEOPLE AND BUILD HEALTHY COMMUNITIES; TO MANAGE AS AN ENTITY OR DIRECT ENTITIES ORGANIZED FOR THE PURPOSE OF CREATING STABLE, VIBRANT AND HEALTHY COMMUNITIES BY DEVELOPING, FINANCING, AND OPERATING AFFORDABLE, PROGRAM-ENRICHED HOUSING FOR FAMILIES, SENIORS, AND PEOPLE WITH SPECIAL NEEDS WHO LACK THE ECONOMIC RESOURCES TO ACCESS QUALITY, SAFE HOUSING OPPORTUNITIES; THE HOME FUND INC., EITHER DIRECTLY OR INDIRECTLY, WILL SUPPORT OR FOSTER THE DEVELOPMENT, ACQUISITION, FINANCING, OPERATION AND MANAGEMENT OF QUALITY, AFFORDABLE PROGRAM-ENRICHED HOUSING FOR LOW AND MODERATE INCOME PERSONS. Form 990, Part VI, Section B, Line 11b A COPY OF FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING.THE ORGANIZATION'S PROCESS FOR DETERMINING COMPENSATION FOR ITS PRESIDENT, KAREN BOBB (WHO PARTICIPATED IN THE PROPERTY RETURN TRANSACTIONS), INVOLVES INDEPENDENT COMPENSATION COMMITTEE REVIEW, REVIEW OF COMPARABLE SALARIES, REVIEW OF DUTIES AND RESPONSIBILITIES, APPROVAL BY BOARD OF DIRECTORS. THIS PROCESS ENSURES COMPENSATION IS REASONABLE AND NOT EXCESSIVE. THE RETURN OF DONATED PROPERTY TO SUBSTANTIAL CONTRIBUTORS WAS EXECUTED AS A DUTY OF THE PRESIDENT, AND THIS TRANSACTION ITSELF DID NOT INVOLVE ADDITIONAL COMPENSATION TO THE PRESIDENT. Form 990, Part VI, Section B, Line 12c A BOARD MEMBER WHO HAS A CONFLICT OF INTEREST DOES NOT TAKE PART IN ANY DECISION RELATED TO THAT CONFLICT. THE ORGANIZATION HAS A ROBUST CONFLICT OF INTEREST POLICY IN PLACE, WHICH REQUIRES ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES TO DISCLOSE POTENTIAL CONFLICTS ANNUALLY OR AS THEY ARISE. WHEN THE TRANSACTIONS INVOLVING THE RETURN OF REAL PROPERTY TO SUBSTANTIAL CONTRIBUTORS (DISQUALIFIED PERSONS) WERE IDENTIFIED, THE BOARD OF DIRECTORS AND LEGAL COUNSEL REVIEWED THE PROPOSED ACTIONS TO ENSURE COMPLIANCE WITH THE POLICY AND APPLICABLE TAX LAW. PRESIDENT KAREN BOBB, DESPITE SIGNING THE DEEDS, DID NOT HAVE A PERSONAL CONFLICT OF INTEREST BEYOND HER ROLE AS AN OFFICER EXECUTING BOARD-APPROVED ACTIONS. THE BOARD CONCLUDED THESE TRANSACTIONS WERE NECESSARY AND APPROPRIATE TO ADDRESS THE ORGANIZATION'S RETENTION OF DONATED ASSETS. Form 990, Part VI, Section B, Line 15 THE BOARD REVIEWED DATA IN DETERMINING COMPENSATION.ALL TRANSACTIONS WITH INTERESTED PERSONS, SUCH AS THE RETURN OF DONATED REAL PROPERTY TO SUBSTANTIAL CONTRIBUTORS GARY ALLEN CHESTNUT AND CORNELL RANDALL IRONS, ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS OR AN AUTHORIZED COMMITTEE THEREOF, INDEPENDENT OF THE INTERESTED PARTY. FOR THE PROPERTY RETURNS IN 2024, THE BOARD, IN CONSULTATION WITH LEGAL COUNSEL, REVIEWED THE DETAILS OF THE ORIGINAL DONATIONS AND THE REASONS FOR THE RETURN. THE BOARD FORMALLY APPROVED THE DISPOSITION OF THESE ASSETS AND AUTHORIZED PRESIDENT KAREN BOBB TO EXECUTE THE NECESSARY DOCUMENTATION. THIS PROCESS ENSURES THE TRANSACTIONS ARE FAIR, REASONABLE, AND IN THE ORGANIZATION'S BEST INTEREST, NOT PROVIDING AN EXCESS BENEFIT. Form 990, Part VI, Section C, Line 19 CONFLICT OF INTEREST POLICY IS FILED ANNUALLY WITH THE FLORIDA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES. THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FORM 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST, AS REQUIRED BY LAW. COPIES CAN BE REQUESTED IN WRITING OR BY VISITING THE ORGANIZATION'S OFFICES DURING NORMAL BUSINESS HOURS. AN ELECTRONIC COPY OF FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG. THIS ENSURES TRANSPARENCY AND PUBLIC ACCOUNTABILITY. Form 990, Part XI, Line 9 RETURN OF DONATED REAL PROPERTY TO ORIGINAL DONORS. PROPERTIES LOCATED AT LEONARD ST, MERRITT ST, AND STATION ST, ALTAMONTE SPRINGS, FL, WERE RETURNED TO SUBSTANTIAL CONTRIBUTORS GARY ALLEN CHESTNUT AND CORNELL RANDALL IRONS IN 2024. THE TOTAL FAIR MARKET VALUE OF THE ASSETS DISPOSED OF WAS $870,000.