2024-10-30T11:30:09-05:00 2023-12-31 390919055 RITZ HOLMAN LLP 330 E KILBOURN AVE SUITE 550 MILWAUKEE WI 53202 990 2023-01-01 462986750 ACTS LENDING INC ACTS 4149332215 2414 W VLIET STREET MILWAUKEE WI 53205 MICHAEL GOSMAN PRESIDENT & CEO 4149332215 2024-10-30 1 1 RENEE MESSING P01872384 4142711451 2024-10-30 2023 2024-10-15 13:58:12Z HEATHER RAMIREZ 2414 W VLIET STREET MILWAUKEE WI 53205 1531192 0 X ACTSHOUSING.ORG X 2013 WI ACTS LENDING'S MISSION IS EMPOWERMENT THROUGH HOMEOWNERSHIP. 6 6 0 25 0 0 351612 1192569 231975 338587 0 0 595 36 584182 1531192 0 0 0 0 181345 129236 0 0 14531 144060 376686 325405 505922 258777 1025270 7584619 9092830 4174438 4586983 3410181 4505847 ACTS LENDING, INC.'S MISSION IS EMPOWERMENT THROUGH HOMEOWNERSHIP. 0 0 402314 338587 ACTS LENDING, INC., PROVIDES PURCHASE-REHAB MORTGAGE LOANS TO FAMILIES THAT ARE PURCHASING DISTRESSED FORECLOSURES IN MILWAUKEE AND BELOIT, WISCONSIN. LOANS ARE OUTSTANDING TO 143 INDIVIDUALS/FAMILIES AND THE PORTFOLIO HAS 90+ DAY DELINQUENCIES OF LESS THAN 6% OF THE PORTFOLIO AS OF DECEMBER 31, 2023. TOTAL WRITE-OFFS OVER THE PAST 10 YEARS HAVE TOTALED LESS THAN $15,000. 402314 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 WI X X MICHAEL GOSMAN 4149332215 2414 W VLIET STREET MILWAUKEE WI 53205 MICHAEL GOSMAN PRESIDENT & CEO 3.00 42.00 X 0 196948 39077 KELLY ANDREW VP STRATEGIC PARTNERSHIPS 9.00 36.00 X 0 118469 17034 DOROTHY YORK VP REAL ESTATE 0.00 45.00 X 0 129880 15814 DEATRA KEMP VP PROGRAMS 3.00 42.00 X 0 100989 22209 HEATHER RAMIREZ CHAIR 1.00 2.00 X X 0 0 0 ANTHONY FRANDA TREASURER 1.00 2.00 X X 0 0 0 DOUG LEVY SECRETARY 1.00 1.00 X X 0 0 0 RAE JOHNSON DIRECTOR 1.00 1.00 X 0 0 0 ANTHONY MCHENRY DIRECTOR 1.00 1.00 X 0 0 0 OSCAR TOVAR DIRECTOR 1.00 1.00 X 0 0 0 0 546286 94134 0 0 1 0 0 25244 167000 1000325 1192569 LOAN INTEREST INCOME 522292 317007 317007 PROGRAM SERVICE FEES 522292 21580 21580 338587 OTHER REVENUE 900099 36 36 36 1531192 338587 0 36 13790 11032 1379 1379 105510 84408 10551 10551 9936 7948 994 994 59367 59367 8405 8405 4886 1973 2605 308 4865 2759 807 1299 1524 751 773 53774 53774 BAD DEBTS 207952 207952 CLOSING COSTS 29455 29455 OPERATING EXPENSES 4891 1088 3803 STAFF DEVELOPMENT 1174 1174 393 393 505922 402314 89077 14531 1391267 822479 1018022 1083873 38976 49596 5136354 7136882 7584619 9092830 408 0 1500 13859 4107888 4137343 64642 435781 4174438 4586983 X 3400181 4505847 10000 0 3410181 4505847 7584619 9092830 X 1025270 70396 X X 0 1 X 1 1 1 X 429713 1473444 526677 351612 1192569 3974015 429713 1473444 526677 351612 1192569 3974015 960368 3013647 47187 101781 157356 228244 317007 851575 22 2 939 595 36 1594 4827184 66142 0.62430 0.79850 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 22. 2020 AMOUNT: $ 2. 2021 AMOUNT: $ 939. 2022 AMOUNT: $ 595. 2023 AMOUNT: $ 36. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 0 DUE TO ACTS HOUSING 435781 435781 X PART IV, LINE 2B: THE ORGANIZATION HOLDS ESCROW ACCOUNTS RELATED TO LENDING PROGRAM FOR HOMEOWNER PROPERTY TAXES AND INSURANCE. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. THE AFFILIATE IS A SOLELY OWNED CORPORATION AND THEREFORE THE INTERNAL REVENUE SERVICE CONSIDERS IT TO BE A DISREGARDED ENTITY FOR TAX PURPOSES. ALL AFFILIATE ACTIVITY IS INCLUDED UNDER ACTS COMMUNITY DEVELOPMENT CORPORATION FOR TAX PURPOSES. MANAGEMENT HAS REVIEWED ALL TAX POSITIONS RECOGNIZED IN PREVIOUSLY FILED TAX RETURNS AND THOSE EXPECTED TO BE TAKEN IN FUTURE TAX RETURNS. AS OF DECEMBER 31, 2023, THE ORGANIZATION AND AFFILIATE HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. THE ORGANIZATION DOES NOT ANTICIPATE ANY SIGNIFICANT CHANGES TO UNRECOGNIZED INCOME TAX BENEFITS OVER THE NEXT YEAR. X 0 0 0 0 0 0 0 1 0 MICHAEL GOSMAN PRESIDENT & CEO 0 181948 0 15000 0 0 0 0 0 39077 0 236025 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR RECEIVED A BONUS 2023 OF $15,000 FORM 990, PART VI, SECTION A, LINE 8B LINE 8B EXPLANATION - THERE ARE NO COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THE ENTIRE BOARD IS PROVIDED THE 990 (EXCLUDING SCHEDULE B) FOR REVIEW PRIOR TO FILING, THE EXECUTIVE COMMITTEE REVIEWS THE FULL 990 (INCLUDING SCHEDULE B) AND DISCUSSES ANY NECESSARY ITEMS WITH THE FULL BOARD FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST. OTHER MEMBERS OF THE BOARD OR COMMITTEE DETERMINE IF A CONFLICT EXISTS. WHEN THIS OCCURS THE BOARD MEMBER WITH A CONFLICT OF INTEREST IS ASKED TO LEAVE DURING THE DISCUSSION AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 ACTS LENDING DOES NOT GIVE COMPENSATION DIRECTLY TO ANY EMPLOYEES, ALL COMPENSATION IS PAID THROUGH ACTS HOUSING AND CHARGED BACK TO LENDING. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XI, LINE 9: DIRECT TRANSFER OF EQUITY FROM ACTS COMMUNITY DEVELOPMENT CORPORATION 70,396. FORM 990, PART XII, LINE 2C: NO CHANGES FROM PRIOR YEAR ACTS COMMUNITY DEVELOPMENT CORPORATION 2414 W VLIET STREET MILWAUKEE WI 53205 391837474 AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES WI 501(C)(3) 509(A)(1) ACTS COMMUNITY DEVELOPMENT CORPORATION 0 ACTS HOMEOWNERSHIP ACQUISITIONS INC 2414 W VLIET STREET MILWAUKEE WI 53205 921333943 AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES WI 501(C)(3) 509(A)(1) ACTS COMMUNITY DEVELOPMENT CORPORATION 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 1 1 0 1 0 ACTS COMMUNITY DEVELOPMENT P 140204 CASH ACTS COMMUNITY DEVELOPMENT E 2778863 CASH ACTS COMMUNITY DEVELOPMENT M 1000000 CASH ACTS COMMUNITY DEVELOPMENT R 1163923 CASH ACTS COMMUNITY DEVELOPMENT C 25244 CASH ACTS COMMUNITY DEVELOPMENT O 129236 CASH