2023-11-14T17:02:49-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 5001 SPRING VALLEY ROAD SUITE 600W DALLAS TX 75244 990 2022-01-01 204526894 HOME AGAIN INC HOME 6019441100 4 OLD RIVER PLACE JACKSON MS 39202 PHILIP EIDE FINANCIAL OFFICER 6019441100 2023-11-13 1 PHILIP EIDE 999009999 0 LACEY M QUATSOE P01300865 9723835700 2023-11-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z WILLIAM BYNUM 4 OLD RIVER PLACE JACKSON MS 39202 1197400 0 X N/A X 2006 MS SUPPORT THE EFFORTS OF THE GULF COAST COMMUNITIES RECOVERING AND REBUILDING IN THE AFTERMATH OF HURRICANE KATRINA AND PROVIDE LOW AND MODERATE INCOME FAMILIES IN MISSISSIPPI WITH AFFORDABLE HOUSING. 6 3 0 5 0 0 107724 154370 73165 8376 80117 474398 0 0 261006 637144 210220 219386 0 0 0 0 0 0 0 19113 492867 229333 712253 31673 -75109 4852331 3743286 1034249 313 3818082 3742973 SUPPORT THE EFFORTS OF THE GULF COAST COMMUNITIES RECOVERING AND REBUILDING IN THE AFTERMATH OF HURRICANE KATRINA AND PROVIDE LOW AND MODERATE INCOME FAMILIES IN MISSISSIPPI WITH AFFORDABLE HOUSING. 0 0 711053 219386 8376 PROVIDE MORTGAGE FINANCING AND RECOVERY CONSULTATION SERVICES TO ELIGIBLE PERSONS WHO HAVE HAD THEIR HOMES DAMAGED OR DESTROYED BY HURRICANE KATRINA AND PROVIDE LOW AND MODERATE INCOME FAMILIES IN MISSISSIPPI WITH AFFORDABLE HOUSING. 711053 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 3 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 1 1 1 1 0 MS X FELICIA MYERS 6019441100 4 OLD RIVER PLACE JACKSON MS 39202 WILLIAM BYNUM CHAIRPERSON 0.04 29.52 X X 359 396471 233971 ALAN BRANSON SECRETARY - THRU 5/2022 0.06 21.08 X 148 112685 15462 CASSANDRA WILLIAMS BOARD MEMBER 0.00 7.31 X 0 26900 4891 RONNIE CRUDUP BOARD MEMBER 0.08 0.04 X 0 0 0 PHIL EIDE BOARD MEMBER-TOP FINANCIAL OFFICER 5.80 27.50 X X 12220 82913 18955 HERSCHELL HAMILTON BOARD MEMBER - AS OF 5/2022 0.08 0.04 X 0 0 0 DAVID JACKSON BOARD MEMBER 0.08 0.00 X 0 0 0 12727 618969 273279 0 0 1 0 0 99370 55000 5000 154370 AMORTIZATION INCOME 522291 8333 8333 OTHER FEE REVENUE 522291 43 43 8376 1034654 560256 474398 474398 474398 637144 8376 0 474398 X 219386 219386 1200 1200 473068 473068 720 720 TAXES AND LICENSES 12879 12879 SUPPLIES 5000 5000 712253 711053 1200 0 188612 845293 3059046 2847993 0 0 366948 0 1187725 0 50000 50000 4852331 3743286 1034249 313 1034249 313 X 3818082 3742973 0 3818082 3742973 4852331 3743286 -75109 0 X 0 1 X 1 0 X 452333 696910 107724 154370 1411337 17891 193686 8333 8376 228286 17891 452333 890596 116057 162746 1639623 0 0 0 1639623 23581 17668 23097 64832 129178 41472 470001 913693 180889 162746 1768801 0.92700 0.86700 0.00000 0.06080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO AFFILIATE 313 313 X PART X, LINE 2: HOME AGAIN HAS RECEIVED A RULING FROM THE INTERNAL REVENUE SERVICE FOR EXEMPTION FROM INCOME TAXES AS A PUBLIC CHARITY UNDER INTERNAL REVENUE CODE SECTIONS 501(C)(3) AND 509(A)(2). POTENTIAL EXPOSURES INVOLVING TAX POSITIONS TAKEN THAT MAY BE CHALLENGED BY TAXING AUTHORITIES CONTAIN ASSUMPTIONS BASED UPON PAST EXPERIENCES AND JUDGMENTS ABOUT POTENTIAL ACTIONS BY TAXING JURISDICTIONS. MANAGEMENT DOES NOT BELIEVE THAT THE ULTIMATE SETTLEMENT OF THESE ITEMS WILL RESULT IN A MATERIAL AMOUNT. WITH MINIMUM EXCEPTIONS, THE COMPANY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2017. 1 MORTGAGE ASSISTANCE AND FINANCIAL COUNSELING 37 219386 PART I, LINE 2: EASTMOOR GRANT FUNDS ARE USED TO FINANCE THE REHABILITATION OF OWNER-OCCUPIED HOMES LOCATED IN MOOREHEAD, MS, WHICH ARE OCCUPIED BY OWNERS WHOSE INCOME DOES NOT EXCEED 80% OF AREA MEDIAN INCOME. EACH REHABILITATION LOAN SHALL BE A NONINTEREST BEARING LOAN AND SHALL BE FORGIVEN AT THE END OF THE TERM (15 YEARS) OF DEED RESTRICTION PROVIDED THE APPLICABLE HOMEOWNER COMPLIED WITH THE TERMS OF THE DEED RESTRICTION. 0 1 0 0 0 0 0 0 0 WILLIAM BYNUM CHAIRPERSON 239 304187 117 89895 3 2389 10 225517 11 8433 380 630421 0 0 PART I, LINE 3 THE RELATED ORGANIZATION'S SALARY ADMINISTRATION PROCESS IS OUTSOURCED TO GALLAGHER CONSULTING FIRM. THE RELATED ORGANIZATION WENT THROUGH A SALARY ANALYSIS WITH GALLAGHER CONSULTING FIRM IN 2018 WHERE THE CURRENT SALARY STRUCTURE AND GRADES WERE SET UP FOR ALL ROLES. IN JUNE OF 2021 THE PAY STRUCTURE WAS UPDATED TO REFLECT CURRENT DATA. THE NEXT STRUCTURE REVIEW IS SCHEDULED FOR FALL 2023. THE FOLLOWING SOURCES WERE USED AND ARE AGED TO OUR STRUCTURE: AMERICAN BANKERS ASSOCIATION 2021. DATA EFFECTIVE DATE IS DECEMBER 31, 2020; COMPANALYST, JOB ANALYZER (CA) 2022. THE DATABASE HAS COMPENSATION DATA ON MORE THAN 20 MILLION EMPLOYEES AND 1,500 UNIQUE JOB TITLES; COMPDATA BENCHMARK SURVEYS 2021 E DATA EFFECTIVE DATE IS OCTOBER 2021; CREDIT UNION NATIONAL ASSOCIATION (CUNA) STAFF SALARY REPORT 2021 DATA EFFECTIVE DATE IS APRIL 2021; ECONOMIC RESEARCH INSTITUTE (ERI) 2022 A NATIONAL COMPENSATION SUBSCRIPTION DATABASE; THE SALARY ASSESSOR DATABASE; MERCER BENCHMARK REPORT 2021. DATA EFFECTIVE DATE IS MARCH 2021; WILLIS TOWERS WATSON SALARY SURVEY 2021. USING THE SOURCES ABOVE EACH EXECUTIVE LEVEL JOB WAS COMPARED BASED ON THE FOLLOWING CRITERIA: JOB GROUP - ALL HOPE EXECUTIVE VICE PRESIDENT ROLES AND CREDIT UNIONS AND CDFI'S. INDUSTRIES/BUSINESS SECTOR - NONPROFITS, CREDIT UNIONS, CDFI'S. GEOGRAPHICAL REGION - NATIONAL. SIZE OF BUDGET, SCOPE, STAFF, SIZE - $500 MILLION IN ASSETS AND APPROXIMATELY 250 EMPLOYEES. MARKET POSITIONING - MEDIAN (50TH PERCENTILE). PART I, LINE 4B HOPE ENTERPRISE CORPORATION (HOPE) WILL SET ASIDE AN AMOUNT EQUAL TO $20,000, AND AN ADDITIONAL $20,000 ON JANUARY 1 OF EACH SUBSEQUENT YEAR FOR A TOTAL OF $100,000 UNDER A 457(F) PLAN FOR THE CEO. FORM 990, PART VI, SECTION A, LINE 7A THE FOUR (4) DIRECTORS ARE APPOINTED BY HOME ENTERPRISE CORPORATION (HEC). THREE (3) ADDITIONAL DIRECTORS SHOULD BE APPOINTED BY HEC AND MUST BE REPRESENTATIVES OF A LOW-INCOME COMMUNITY SERVED BY THE CORPORATION. TO BE DEEMED A REPRESENTATIVE OF A LOW-INCOME COMMUNITY, A PERSON MUST MEET ONE OF THE FOLLOWING CRITERIA: 1. THE PERSON LIVES IN A LOW-INCOME NEIGHBORHOOD WHERE 51% OR MORE OF THE RESIDENTS ARE LOW-INCOME. THIS RESIDENT DOES NOT HAVE TO BE LOW-INCOME. 2. THE PERSON IS A LOW-INCOME RESIDENT OF THE COMMUNITY. 3. THE PERSON WAS ELECTED BY A LOW-INCOME NEIGHBORHOOD ORGANIZATION TO SERVE ON THE BOARD. THE ORGANIZATION MUST BE COMPOSED PRIMARILY OF RESIDENTS OF THE LOW-INCOME NEIGHBORHOOD AND ITS PRIMARY PURPOSE MUST BE TO SERVE THE INTERESTS OF THE NEIGHBORHOOD RESIDENTS. SUCH ORGANIZATION MIGHT INCLUDE BLOCK GROUPS, NEIGHBORHOOD ASSOCIATIONS, AND NEIGHBORHOOD WATCH GROUPS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE GOVERNING BODY DOES NOT REVIEW THE 990 BEFORE FILING; HOWEVER, IT IS REVIEWED BY THE SVP FISCAL AND CFO. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER, AND EMPLOYEE SHALL SIGN ANNUALLY A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THIS CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THIS POLICY. IT IS REVIEWED BY HUMAN ASSETS, LEGAL AND COMPLIANCE WHEN CONFLICTS OF INTEREST (PERCEIVED OR POTENTIAL) ARE DISCLOSED BY THE INDIVIDUAL. UPON THE FIRST KNOWLEDGE BY AN INTERESTED PERSON THAT THE ORGANIZATION IS CONSIDERING OR HAS CONSIDERED A TRANSACTION OR ARRANGEMENT WITH A TRANSACTION ENTITY OR INDIVIDUAL WITH WHICH THE INTERESTED PERSON HAS AN INTEREST, THE INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS OR HER INTEREST TO THE PRESIDENT OR CHAIRMAN OF THE BOARD OF DIRECTORS. AFTER DISCLOSURE OF THE INTEREST, THE INTERESTED PERSON MAY NOT PARTICIPATE IN CONSIDERATION OF THE PROPOSED TRANSACTION OR ARRANGEMENT AND SHALL NOT BE PRESENT FOR THE CONSIDERATION OF OR VOTE ON SUCH TRANSACTION UNLESS THE PRESIDENT REQUESTS INFORMATION OR INTERPRETATION FROM THE INTERESTED PERSON. THE PRESIDENT SHALL THEN DETERMINE OR REFER TO THE CHAIRMAN OF THE BOARD AND/OR THE BOARD FOR DETERMINATION OF WHETHER THE TRANSACTION OR ARRANGEMENT IS IN HEC'S BEST INTERESTS AND IS FAIR AND REASONABLE TO HEC AND SHALL MAKE A DECISION WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN ACCORDANCE WITH SUCH DETERMINATION. WHEN THE PRESIDENT, CHAIRMAN OF THE BOARD OR THE BOARD MAKE A DETERMINATION AND DECISION ON THE INTEREST OF AN INTERESTED PERSON, THE MINUTES SHALL CONTAIN THE NAMES OF THE INTERESTED PERSON(S) WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE AN INTEREST, THE NATURE OF THE INTEREST, A RECORD OF ANY DETERMINATION AS TO WHETHER A TRANSACTION OR ARRANGEMENT WAS IN THE BEST INTERESTS OF AND FAIR AND REASONABLE TO HEC AND THE NAMES OF THE PERSONS WHO WERE PRESENT FOR THE DISCUSSIONS ON THE TRANSACTION OR ARRANGEMENT AND A RECORD OF ANY VOTES TAKEN IN CONNECTION THEREWITH. IF THE PRESIDENT, CHAIRMAN OF THE BOARD OR THE BOARD HAS REASONABLE CAUSE TO BELIEVE AN INTERESTED PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE INTEREST, HE, SHE OR THEY SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE RESPONSE OF THE INTERESTED PERSON AND MAKING SUCH INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE PRESIDENT, THE CHAIRMAN OF THE BOARD OR THE BOARD SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION HAS NO EMPLOYEES - ALL LABOR IS PROVIDED BY HOPE ENTERPRISE CORPORATION, A RELATED ORGANIZATION. HOPE ENTERPRISE CORPORATION PERFORMS THE PROPER REVIEWS AS NECESSARY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION CAN BE CONTACTED DIRECTLY IN ORDER TO REQUEST GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS. FORM 990, PART IX, LINE 11G CONSTRUCTION SERVICES: PROGRAM SERVICE EXPENSES 473,068. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 473,068. HOPE ENTERPRISE CORPORATION 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 640851798 PROVIDE FINANCIAL SERVICES TO ECONOMICALLY DISTRESSED AREAS MS 501(C)(3) LINE 10 N/A 0 ECD ASSOCIATES LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 300224328 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 ECD INVESTMENTS LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 721376692 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 ECD NEW MARKETS LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 550787936 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOMESTEAD DEVELOPMENT LLC 2304 19TH STREET SUITE 203 GULFPORT MS 39501 263468874 RESIDENTIAL RENTALS MS N/A N/A 828926 1728843 0 0 0.47680 HOPE NEW MARKETS 5 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 364852627 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 7 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 364852910 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 8 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 352578311 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 9 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 364853101 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 10 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 611809803 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 12 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 611810268 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 13 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 352579556 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 14 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 352579181 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 15 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 831979734 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 16 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 842018487 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 17 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 842032672 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 18 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 842049645 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 19 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 842063274 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 20 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 842080890 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 HOPE NEW MARKETS 21 LLC 4 OLD RIVER PLACE SUITE A JACKSON MS 39202 872878161 COMMUNITY/BUS. DEVELOPMENT MS HOPE ENTERPRISE CORPORATION N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0