2012-07-23T09:45:06-05:00 2011-12-31 450250958 EIDE BAILLY LLP 877 W MAIN ST STE 800 BOISE ID 83702 990 2011-01-01 820439164 THE HOUSING COMPANY HOUS 2083314811 PO BOX 6943 BOISE ID 83707 DOUGLAS PETERSON 2083314765 2012-07-18 1 LEANN M SANNES P01258277 2083447150 2012-07-18 2011 2016-02-24 21:20:13Z GERALD HUNTER PO BOX 6943 BOISE ID 83707 8587685 0 X WWW.THEHOUSINGCOMPANY.ORG X 1990 ID TO DEVELOP, ACQUIRE, AND OPERATE REAL ESTATE FOR THE BENEFIT OF ELDERLY, DISADVANTAGED, LIMITED-INCOME OR OTHERWISE NEEDY PERSONS THROUGHOUT THE STATE OF IDAHO. 7 7 47 7 0 0 500714 0 5051663 5090467 -147928 69502 0 310605 5404449 5470574 0 0 0 0 1321844 1461705 0 0 0 4122746 4306115 5444590 5767820 -40141 -297246 22884363 24812850 14728146 16773008 8156217 8039842 X HOUSING WAS FORMED TO ADDRESS THE CONCERN OF AN INADEQUATE SUPPLY OF AFFORDABLE, DECENT RENTAL HOUSING WITHIN THE STATE OF IDAHO AND OTHER SIMILAR AREAS OF NEED. HOUSING WAS CREATED TO ENCOURAGE THE DEVELOPMENT AND PRESERVATION OF PERMANENTLY AFFORDABLE RENTAL HOUSING FOR ELDERLY, DISADVANTAGED, LOW-INCOME OR OTHERWISE NEEDY PERSONS. HOUSING INTENDS TO ACQUIRE EXISTING LOW-INCOME HOUSING PROJECTS, MAKING THEM PERPETUALLY AFFORDABLE, AND TO ENCOURAGE THE DEVELOPMENT OF NEW HOUSING PROJECTS. HOUSING EXPECTS THAT THE OCCUPANTS OF NEW HOUSING PROJECTS MAY ALSO INCLUDE A LIMITED NUMBER OF PERSONS OF MODERATE OR HIGHER INCOMES TO ENCOURAGE ECONOMICALLY INTEGRATED HOUSING AS A MEANS OF PREVENTING COMMUNITY DETERIORATION. HOUSING INTENDS TO PURSUE PARTNERSHIPS WITH OTHER AFFORDABLE HOUSING ORGANIZATIONS; IF APPROPRIATE, AS A MEANS OF ACHIEVING ITS OBJECTIVES. 0 0 4716015 5383633 AS OF DECEMBER 31, 2011, HOUSING HAD ACQUIRED AND WAS OPERATING FIFTEEN MULTIFAMILY HOUSING COMPLEXES; HAD CONSTRUCTED AND WAS OPERATING TEN MULTIFAMILY HOUSING COMPLEXES; HAD CONSTRUCTED TWO ADDITIONAL PHASES OF HOUSING TO EXISTING DEVELOPMENTS; HAD COMPLETED RENOVATION OF A HOTEL AND TURNED IT INTO A NEW MULTIFAMILY COMPLEX; HAD BUILT A SINGLE FAMILY HOME KNOWN AS THE COTTAGE WITH HOME FUNDS; HAD PURCHASED LAND IN COEUR D'ALENE AND MONTPELIER FOR THE PURPOSE OF DEVELOPING AND SELLING WORKFORCE HOUSING UNITS; HAD PURCHASED A SINGLE FAMILY HOME IN CANYON COUNTY WITH FEDERAL NSP FUNDS WITH INTENTIONS OF TURNING IT INTO MULTIFAMILY, SPECIAL NEEDS HOUSING AS INTENDED BY THE PROGRAM; AND HAD PURCHASED THREE DUPLEXES IN CANYON COUNTY WITH FEDERAL NSP FUNDS TO RENT AS AFFORDABLE HOUSING. 4716015 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 32 0 1 47 1 0 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X TRACIE DEHAAS-DRABEK ACCOUNTING MANAGER 2083314750 PO BOX 6943 565 W MYRTLE STE 250 BOISE ID 83707 X DALE BABBITT 1.00 X X 0 0 0 GERALD HUNTER 4.00 X X 0 249162 50694 DARLENE BRAMON 1.00 X 0 0 0 BESSIE KATSILOMETES 1.00 X 0 0 0 JOHN PARRISH 1.00 X 0 0 0 JACK BEEBE 1.00 X 0 0 0 RICHARD BAUER 1.00 X 0 0 0 RICHARD SKINNER 1.00 X 0 0 0 JOHN SAGER 1.00 X 0 159155 36559 DOUGLAS PETERSON 40.00 X 104018 0 12811 104018 408317 100064 1 0 1 0 0 HOUSING ASSISTANCE PYM 624200 2657159 2657159 TENANT RENT 624200 1523597 1523597 PROPERTY MANAGEMENT SE 624200 551721 551721 DEVELOPER FEES 624200 216571 216571 LAUNDRY AND OTHER INCO 624100 141419 141419 5090467 86613 86613 3100000 3099672 17439 328 -17439 -17111 -17439 328 DEBT FORGIVENESS - HOU 900099 310605 310605 310605 5470574 5383633 0 86941 117505 117505 978697 536283 442414 1968 1968 256834 146573 110261 106701 52058 54643 439127 439127 20019 7682 12337 77527 77527 58412 54523 3889 10038 10038 101480 35431 66049 13179 8522 4657 811267 787531 23736 40258 7252 33006 8900 8900 600026 597503 2523 1033503 1025577 7926 136629 132927 3702 MAINTENANCE EXPENSE 468708 467527 1181 LOSS IN SUBSIDIARIES 346175 346175 OTHER ADMINISTRATIVE EX 66711 13298 53413 BAD DEBT EXPENSE 32785 32785 41371 13235 28136 5767820 4716015 1051805 0 1419858 1230752 1739918 1419903 84280 106330 32654793 15220744 15597071 17434049 1399790 2098496 2643446 2523320 22884363 24812850 758814 455741 13323634 15432699 645698 884568 14728146 16773008 X 8156217 8039842 8156217 8039842 22884363 24812850 X -297246 180871 X X 0 1 1 X 1 1 X 256500 1038744 500714 1795958 4735745 4579505 4620416 5051663 5090467 24077796 4735745 4836005 5659160 5552377 5090467 25873754 0 0 0 25873754 208759 125124 97398 91361 86613 609255 208759 125124 97398 91361 86613 609255 310605 310605 4944504 4961129 5756558 5643738 5487685 26793614 0.96570 0.97160 0.02270 0.02840 X 3115344 3115344 29539449 15220744 14318705 17434049 ESCROW AND RESERVE DEPOSITS 1038841 FINANCING COSTS, NET OF AMORTIZATION 99960 INVESTMENTS IN SUBSIDIARIES 754353 NEIGHBORHOOD STABILIZATION HOMES HELD FOR SALE 630166 2523320 INTEREST PAYABLE 53977 REAL ESTATE TAXES PAYABLE 203867 SECURITY DEPOSITS PAYABLE 143020 NEIGHBORHOOD STABILIZATION LIABILITY 483704 884568 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE HOUSING COMPANY ADOPTED THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION TOPIC ASC 740-10 (PREVIOUSLY FINANCIAL INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), ON JANUARY 1, 2009. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE FINANCIAL STATEMENTS. AS OF BOTH THE DATE OF ADOPTION, AND AS OF DECEMBER 31, 2011, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. THE ORGANIZATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. HOUSING IS NO LONGER SUBJECT TO FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES OR STATE EXAMINATIONOS FOR YEARS BEFORE 2008. X 0 0 0 0 0 0 0 0 0 GERALD HUNTER 0 211231 0 27937 0 9994 0 34707 0 15987 0 299856 0 0 JOHN SAGER 0 150592 0 4923 0 3640 0 19615 0 16944 0 195714 0 0 RICHARD SKINNER OFFICER - SECRETARY 20019 THE FIRM, SKINNER FAWCETT LLP, PROVIDED LEGAL SERVICES TO THE HOUSING COMPANY IN EXCESS OF $10,000 DURING CALENDAR YEAR 2011. 0 FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIP - RELATED TAX EXEMPT ORGANIZATION, IDAHO HOUSING & FINANCE ASSOCATION: GERALD HUNTER, DOUGLAS PETERSON, JOHN SAGER & RICHARD SKINNER. FORM 990, PART VI, SECTION B, LINE 11 A PDF COPY OF THE FORM 990 IS EMAILED TO EACH MEMBER OF THE BOARD FOR REVIEW PRIOR TO FILING. THE CEO AND ACCOUNTING MANAGER OF THE HOUSING COMPANY REVIEW THE FORM 990 IN CONJUNCTION WITH THE CONSOLIDATED FINANCIAL STATEMENTS PRIOR TO PROVIDING THE FORM 990 TO THE BOARD FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES AND MEMBERS OF THE HOUSING COMPANY ARE COVERED BY THE WRITTEN CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO DISCLOSE ANNUALLY ANY INTERESTS THAT COULD GIVE RISE TO CONFLICT. POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY THE PRESIDENT AND CHAIRMAN OF THE BOARD; ANY BOARD MEMBERS WITH A CONFLICT OF INTEREST ABSTAIN FROM VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15A THE HOUSING COMPANY CONTRACTS WITH THE HUMAN RESOURCE DEPARTMENT OF IDAHO HOUSING & FINANCE TO OBTAIN ANNUAL COMPENSATION REVIEW COMPARISONS FOR THE AREA. THE HOUSING COMPANY COMPENSATES THE EXECUTIVE DIRECTOR, WHOSE COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD PRESIDENT ON AN ANNUAL BASIS IN CONJUNCTION WITH HIS ANNUAL PERFORMANCE REVIEW AND HUMAN RESOURCES. ALL OTHER OFFICERS AND BOARD MEMBERS ARE NOT COMPENSATED BY THE HOUSING COMPANY. FORM 990, PART VI, SECTION C, LINE 19 THE HOUSING COMPANY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN E: OFFICER COMPENSATION IS PAID BY RELATED ORGANIZATION, IDAHO HOUSING AND FINANCE ASSOCIATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET ASSET ADJUSTMENT - CONSOLIDATION OF CAMAS VILLAGE HOUSING COMPLEX 180,871. TOTAL TO FORM 990, PART XI, LINE 5: 180,871. FORM 990, PART XII, LINE 2C: NO CHANGE IN OVERSIGHT OR SELECTION PROCESS FROM PRIOR YEAR. IDAHO HOUSING AND FINANCE ASSOCIATION PO BOX 7899 BOISE ID 83707 820302333 HOUSING FINANCE AGENCY ID 115 N/A N/A 0 BLACKFOOT I LIMITED PARTNERSHIP PO BOX 6943 BOISE ID 83707 820481011 LOW INCOME HOUSING ID BLACKFOOT ONE INC RELATED -70842 13397 0 1 CARRIAGE LANE DEVELOPMENT LIMITED PS PO BOX 6943 BOISE ID 83707 820496544 LOW INCOME HOUSING ID CARRIAGE LANE INC RELATED -1165 33949 0 1 NORTH IDAHO III LIMITED PARTNERSHIP PO BOX 6943 BOISE ID 83707 820466753 LOW INCOME HOUSING ID NORTH IDAHO THREE INC RELATED -2562 0 1 PANHANDLE I LIMITED PARTNERSHIP PO BOX 6943 BOISE ID 83707 820466729 LOW INCOME HOUSING ID PANHANDLE ONE INC RELATED -75513 9769 0 1 TETON DEVELOPMENT LIMITED PARTNERSHIP PO BOX 6943 BOISE ID 83707 820525141 LOW INCOME HOUSING ID TETON ONE INC RELATED -180 3213 0 1 MOSCOW DEVELOPMENT LIMITED PARTNERSHIP PO BOX 6943 BOISE ID 83707 830404665 LOW INCOME HOUSING ID MOSCOW INC RELATED -163 3292 0 1 CHUBBUCK DEVELOPMENT LIMITED PARTNERSHIP PO BOX 6943 BOISE ID 83707 820494688 LOW INCOME HOUSING ID CHUBBUCK ONE INC RELATED -172812 26007 0 1 DOWNTOWN HOUSING DEVELOPMENT LIMITED PS PO BOX 6943 BOISE ID 83707 202406533 LOW INCOME HOUSING ID DOWNTOWN HOUSING INC RELATED -150 4186 0 1 ROSE PARK PLACE LIMITED PARTNERSHIP PO BOX 6943 BOISE ID 83707 208622487 LOW INCOME HOUSING ID ROSE PARK INC RELATED -135 3397 0 1 BLACKFOOT ONE INC PO BOX 6943 BOISE ID 83707 820481013 LOW INCOME HOUSING ID THE HOUSING COMPANY C -71462 -224698 1.00000 CARRIAGE LANE INC PO BOX 6943 BOISE ID 83707 820496541 LOW INCOME HOUSING ID THE HOUSING COMPANY C -1785 117170 1.00000 NORTH IDAHO TWO INC PO BOX 6943 BOISE ID 83707 820453029 LOW INCOME HOUSING ID THE HOUSING COMPANY C -30 1.00000 NORTH IDAHO THREE INC PO BOX 6943 BOISE ID 83707 820453028 LOW INCOME HOUSING ID THE HOUSING COMPANY C -3182 1215 1.00000 PANHANDLE ONE INC PO BOX 6943 BOISE ID 83707 820466665 LOW INCOME HOUSING ID THE HOUSING COMPANY C -76133 81370 1.00000 POCATELLO ONE INC PO BOX 6943 BOISE ID 83707 820453612 LOW INCOME HOUSING ID THE HOUSING COMPANY C -620 979 1.00000 TETON ONE INC PO BOX 6943 BOISE ID 83707 820504692 LOW INCOME HOUSING ID THE HOUSING COMPANY C -810 260056 1.00000 MOSCOW INC PO BOX 6943 BOISE ID 83707 680505919 LOW INCOME HOUSING ID THE HOUSING COMPANY C -783 -173 1.00000 CHUBBUCK ONE INC PO BOX 6943 BOISE ID 83707 820493648 LOW INCOME HOUSING ID THE HOUSING COMPANY C -173432 -4317 1.00000 DOWNTOWN HOUSING INC PO BOX 6943 BOISE ID 83707 202406451 LOW INCOME HOUSING ID THE HOUSING COMPANY C -770 200595 1.00000 ROSE PARK INC PO BOX 6943 BOISE ID 83707 820451604 LOW INCOME HOUSING ID THE HOUSING COMPANY C -755 322155 1.00000 0 0 1 0 1 0 0 0 0 0 0 1 0 0 1 1 0 0 IDAHO HOUSING AND FINANCE ASSOCIATION C 1114460 FMV IDAHO HOUSING AND FINANCE ASSOCIATION L 85185 FMV OF SERVICES IDAHO HOUSING AND FINANCE ASSOCIATION E 829953 LOAN BALANCE AT 12/31 IDAHO HOUSING AND FINANCE ASSOCIATION O 719778 FMV OF EXPENSES IDAHO HOUSING AND FINANCE ASSOCIATION P 75934 FMV OF EXPENSES