The Housing Partnership, Inc. (HPI)
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
The Housing Partnership, Inc. (HPI) meets the 20 Standards for Charity Accountability.
Stated Purpose:
HPI is a non-profit real estate development organization that creates affordable housing opportunities to encourage family stability and support and empower the community.
Year, State Incorporated:
1988, KY
Also Known As:
HPI, Inc.
HPI has developed over 2,600 affordable housing units throughout Kentucky, providing affordable single-family and multi-family rental opportunities and for-sale single-family homes to low-income households. An established leader in the federal Low Income Housing Tax Credit program, it has contributed to the creation of over 7,500 affordable housing units through its consulting services, working closely with a range of nonprofit, community, and for-profit developers interested in affordable housing. HPI maintains financial and operational oversight of its real estate portfolio of over 1,500 affordable single-family and multi-family housing units. It provides in-house property management of its scattered-site, single-family lease purchase portfolio and partners with third-party property management to oversee its multi-family portfolio. HPI offers free HUD-certified homebuyer education and one-on-one financial counseling to its residents and first-time homebuyers, and administers an Employer Assisted Homeownership program in partnership with local businesses. HPI’s HUD-certified Homeownership program includes credit building, budgeting and financial empowerment, foreclosure mitigation, and first-time homebuyer education.
For the year ended June 30, 2023, The Housing Partnership, Inc. (HPI)'s program expenses were:
| Property management | $4,666,135 |
| Single-family housing production | $3,557,193 |
| Multi-family housing production | $666,521 |
| Total Program Expenses | $8,889,849 |
Chief Executive
Andrew Hawes, President/CEO
Chair of the Board
Ms. Tammy Thomas
Chair's Profession / Business Affiliation
SVP, Director of Affordable Housing, German American Bank
Board Size
22
Paid Staff Size
31
Method(s) Used:
Grant proposals
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 The Housing Partnership, Inc. (HPI)'s audited financial statements - consolidated for the year ended June 30, 2023.
Source of Funds
| Single-family home sales | $3,009,400 |
| Rental income | $2,984,541 |
| Multi-family housing grants | $1,707,207 |
| Single family housing grants | $1,516,617 |
| Gain on acquisitions | $728,227 |
| Multi-family housing gain on disposition | $700,000 |
| Debt forgiveness | $630,603 |
| Property management other revenue | $345,829 |
| Property management charge-outs | $295,454 |
| Single-family housing debt forgiveness | $191,449 |
| Multi-family housing development fees | $139,790 |
| Property management in-kind contributions | $122,329 |
| Property management grants | $70,665 |
| Single family housing client counseling fees | $69,017 |
| Single-family housing other revenue | $43,679 |
| Fundraising | $4,124 |
| Net loss on investments in limited partnerships | $-2,457 |
| Net losses on disposals of assets | $-471,799 |
| Total Income | $12,084,675 |
Programs: 88% Fundraising: 0% Administrative: 12%
| Total Income | $12,084,675 |
| Total expenses: | $10,098,848 |
| Program expenses | $8,889,849 |
| Fundraising expenses | $1,794 |
| Administrative expenses | $1,207,205 |
| Other expenses | $0 |
| Income in Excess of Expenses | $1,985,827 |
| Beginning Net Assets | $9,743,291 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $11,729,118 |
| Total Liabilities | $29,328,629 |
| Total Assets | $41,057,747 |
Total assets as reported above include $101,062 in office furniture and equipment, net.
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Report completed by:
BBB serving Greater Kentucky and South Central Indiana