Better Business Bureau Report for
New Directions Housing Corporation

Better Business Bureau Report issued December 2015
Better Business Bureau Report expires December 2017


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: New Directions Housing Corporation
Address: 1000 East Liberty Street
  Louisville, KY 40204-1029
Phone: 502-589-2272
Web Address: www.ndhc.org
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Better Business Bureau Comments

Year, State Incorporated: 1969, Kentucky
Affiliates: None
Stated Purpose: The mission of New Directions Housing Corporation is to develop and maintain affordable housing and vital communities in partnership with neighborhoods and other stakeholders across Kentuckiana.

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Evaluation Conclusions

              

New Directions Housing Corporation meets the 20 Standards for Charity Accountability.
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Programs

              

Founded in 1969, New Directions Housing Corporation (www.ndhc.org) is a not-for-profit community development corporation created to develop and maintain affordable housing and vital communities in partnership with neighborhoods and other stakeholders. New Directions is a member of both the NeighborWorks® America network (www.nw.org) and Kentuckiana’s Metro United Way (www.metrounitedway.org) . New Directions services and programs range from the development, construction and maintenance of affordable housing to the delivery of social services tailored to aid homeless or distressed families of low income. New Directions has a three-county service area, including Louisville, Kentucky and Indiana’s Floyd and Clark counties. Programs have expanded into neighborhood-based services, providing technical support to grassroots and neighborhood groups. New Directions encourages volunteerism and civic participation as ways to increase neighborhood resiliency. Nearly 1,000 low income families live in New Directions affordable rental housing located in 24 neighborhoods. Annually, over 200 homeowners are aided by emergency home repair programs and by Repair Affair, our region’s largest organized volunteer event focused on home safety and housing repairs. Our Learning Centers for youth and adults increase access to after school tutoring and learning opportunities such as computer classes in supported computer labs. As a member of The Coalition for the Homeless, New Directions focuses these services intensively to benefit homeless families through its transitional services program at Heverin House. The agency’s board and the New Directions Neighborhood Roundtable of grassroots leaders are focused in service to Kentuckiana’s neighborhoods and residents. The agency’s Neighborhood Stabilization work in Louisville’s Shelby Park and New Albany’s Midtown Neighborhood are fighting foreclosure and abandonment through quality single-family home development.

For the fiscal year ended June 30, 2015, New Directions Housing Corporation's program expenses were:

  
Asset and Property Management 6,639,612
Home Ownership Preservation 676,541
Resident Services 635,524
Real Estate Development 307,549
Community Building and Organization 85,738
Total Program Expenses: $8,344,964
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Governance

              

Chief Executive : Joe Gliessner, President and Chief Executive Officer
Compensation*: 

Chair of the Board: Elizabeth Stith
Chair's Profession / Business Affiliation: Community Volunteer

Board Size: 24

Paid Staff Size: 78

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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, telephone, invitations to fund raising events, print advertisements, grant proposals, and internet appeals.

In addition, New Directions is a Metro United Way member agency.

Fund raising costs were 18% of related contributions. (Related contributions, which totaled $1,595,865, are donations received as a result of fund raising activities.)
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Tax Status

              

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.
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Financial

              

The following information is based on New Directions Housing Corporation's audited financial statements for the fiscal year ended June 30, 2015.

Ending net assets as reported below include $14,071,307 in unrestricted net assets , $137,234 in temporarily restricted net assets, and $2,017,413 in permanently restricted net assets.

Unrestricted net assets as reported above include $13,198,941 in operating assets and $872,366 in contractually designated assets.

Total assets as reported include $20,894,258 invested in property and equipment.


Source of Funds  
Rent Income 5,722,172
Grant Income 1,312,330
Maintenance, Management and Other Fees 867,268
Miscellaneous 531,427
Contributions 283,535
Interest Income 250,935
Total Income $8,967,667


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Uses of Funds as a % of Total Expenses

Programs: 94%  Fund Raising: 3%  Administrative: 3%  Other Expenses: Less than 1%

Total income $8,967,667
Program expenses $8,344,964
Fund raising expenses 279,372
Administrative expenses 287,212
Other Expenses 16,906
Total expenses $8,928,454
Income in Excess of Expenses 39,213
Beginning net assets 16,187,634
Other Changes in Net Assets (893)
Ending net assets 16,225,954
Total liabilities 15,009,481
Total assets $31,235,435


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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