New Directions Housing Corporation
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
New Directions Housing Corporation meets the 20 Standards for Charity Accountability.
Stated Purpose:
To develop and maintain affordable housing and vital communities in partnership with neighborhoods and other stakeholders across Kentuckiana.
Year, State Incorporated:
1971, KY
Since 1971, New Directions has been dedicated to helping those in the community struggling at the poverty level. Through rental housing, home-repair, and real estate development programs, it transforms lives for the better and strengthens local communities, including Louisville, Kentucky and Indiana’s Floyd and Clark counties. Its vision is for everyone to have a warm and safe place to call home where they can stay healthy and independent. This is accomplished by providing affordable apartments, helping seniors with free home repairs that allow them to stay in their home, helping individuals become financially independent, and providing access to early childhood education.
For the year ended June 30, 2023, New Directions Housing Corporation's program expenses were:
| Rental properties | $5,689,679 |
| Asset and property management | $2,793,250 |
| Home ownership preservation | $2,051,718 |
| Early childhood development | $1,423,859 |
| Resident services | $569,756 |
| Real estate and development | $464,803 |
| Community building and enagement | $36,419 |
| Total Program Expenses | $13,029,484 |
Chief Executive
Bridgette Johnson, President and CEO
Chair of the Board
Mr. Zach Wedding
Chair's Profession / Business Affiliation
Realtor, Six Degrees Real Estate
Board Size
22
Paid Staff Size
78
Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Grant proposals, Internet, Appeals via Social Media (Facebook, etc.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on New Directions Housing Corporation's audited financial statements - consolidated for the year ended June 30, 2023.
Source of Funds
| Net gain on disposals of assets | $11,303,983 |
| Rent and rental assistance, net | $5,467,988 |
| Contributions and grants | $3,344,283 |
| Miscellaneous | $867,653 |
| Program services | $657,750 |
| Maintenance fees and tenant charges | $534,259 |
| Property management and incentive fees | $301,611 |
| Housing development and home sales | $288,745 |
| Interest income | $109,871 |
| Forgiveness of debt | $19,758 |
| Total Income | $22,895,901 |
Programs: 91% Fundraising: 3% Administrative: 6%
| Total Income | $22,895,901 |
| Total expenses: | $14,257,007 |
| Program expenses | $13,029,484 |
| Fundraising expenses | $373,431 |
| Administrative expenses | $854,092 |
| Other expenses | $0 |
| Income in Excess of Expenses | $8,638,894 |
| Beginning Net Assets | $13,169,279 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $21,808,173 |
| Total Liabilities | $13,916,894 |
| Total Assets | $35,725,067 |
Total assets as reported above include $13,678,523 in property and equipment, net.
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
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Review in Progress
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Report completed by:
BBB serving Greater Kentucky and South Central Indiana