Applicant Details & Scoring

ARC State Program Manager Comments

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APPLICANT

Housing Development Alliance, Inc.

Total Qualifying Score: 9
County (ARC Region): Yes
State (ARC Region): Yes
Q3. IRS Status: Nonprofit – 2
Q4. Parent Entity: No – 1
Q5. 2 or More Full-Time Employees : Yes (as of 12/31/2019)
Q7. Budget Level: $250,001 to $1.5 million – 5 (Last Fiscal Year Actual Income)
Q8. Restricted Reserves: Yes – 0
Q9. CARES Act Funding: No – 1
Q13. Participation by Executive: Yes


CONTACT & LOCATION INFORMATION

Housing Development Alliance, Inc.
Hazrd, Perry County, Kentucky 41701
606-436-0497
Email
www

County (ARC Region) Perry
State (ARC Region) Kentucky


ORGANIZATIONAL & FINANCIAL INFORMATION

Q1. Mission:

To use the power of housing to transform lives and build a brighter future for our communities.

Q2. How organization aligns with ARC’s Plan & Goals:

We develop affordable housing which is critical to both community and economic development.  As an organization we offer many opportunities to develop the capacity and skills of current and next-generation leaders through employment and board opportunities.  We are entrepreneurial in spirit running our own construction company, creating a paid on-the-job training program for people in recovery, and starting a social enterprise around providing energy efficient repairs. 

Q3. IRS Filing Status: 501(c)(3)   

Q4. Unit or Chapter of Larger Organization: No

Q5. Employees:

Full-Time/Part-Time Employees: 30/0 (as of 9/1/2020)

Full-Time/Part-Time Employees: 28/1 (as of 12/31/2019)

Current Year Income/Expenses: $5421654/$5317933

Q6. Fiscal Year: July-June

Q7. Budget Level

Last Fiscal Year Income/Expenses (Actual): $4552631 / $4581085

Current Year Income/Expenses (Projected): $5421654 / $5317933

Balance Sheet

Q8. Restricted Reserves (Amount): Yes ($326740)

Q9. CARES Act Funding (Amount): No ($)
Received From:   Date Received:
For What Purpose(s):

Q10. Negative Impacts from COVID-19:

We have seen increased costs associated with technology for remote work, PPE and cleaning and adapting how we do business.  We have seen a slow down in new homes sales due to people losing jobs or being uncertain about future.  We have seen an increase demand for homeowner occupied repairs.  Our funding partners including federal agency have slowed down as they have adjusted to working remotely which has slowed our work flow.   The construction boom associated with historically low interest rates and the stimulus checks combined with the production slow down due to COVID-19 has seen construction material prices skyrocket (OSB has gone from $7 a sheet to $30 a sheet).  Contributions are down.

Q11. Top Three Concerns:
Production disruption dur to staff/subs becoming ill
Customers not being able to afford products due to job less and/or economic uncertainty
Drastic cut in fedral spending after crisis is over due to increased deficit during crisis

How Participation in Program Will Address Concerns:

Long term financial planning is essential to surviving in uncertain times.  We have a knew CFO whose ability to create long term financial planning would be greatly enhanced by the TA.


COHORT INSTRUCTION

Q12. Applying as a Proposed Cohort? No

Q13. Executive Director or CEO Will Participate in the Program? Yes

Q14. Top Two Choices for Cohort Instruction:

Course #1 Choice: 1-Long-term Financial Management

Course #2 Choice: 2-Short-term Financial Management

Q15. Desired Course Schedule for Cohort Instruction:

#1 Desired Course Schedule: 1-Winter 2021 A: 5-Week Course (Jan. 25, 2021 – Feb. 28, 2021)

#2 Desired Course Schedule: 2-Fall 2020: 6-Week Course (Nov. 9, 2020 – Dec. 18, 2020)


APPLICATION SUBMITED BY:

Name: Scott McReynolds, Executive Director

Application Approved by Organization Director or CEO? Yes, Approved by Executive Director/CEO

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