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 to 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. 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, 2016, New Directions Housing Corporation's program expenses were:

  
Other 2,769,443
Asset and Property Management 2,368,621
Rental Properties 1,971,311
Resident Services 607,812
Home Ownership Preservation 517,977
Real Estate Development 425,376
Community Building and Organization 160,132
Early Childhood Development 141,780
Total Program Expenses: $8,962,452
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Governance

              

Chief Executive : Lori Hudson Flanery, President and CEO
Compensation*: 

Chair of the Board: Adam Hall
Chair's Profession / Business Affiliation: Fifth Third

Board Size: 21

Paid Staff Size: 76

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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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 12% of related contributions. (Related contributions, which totaled $2,467,159, 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, 2016.

Ending net assets as reported below include $14,950,045 in unrestricted net assets, $269,804 in temporarily restricted net assets, and $2,092,413 in permanently restricted net assets.

Unrestricted net assets as reported above include $14,466,816 in operating assets and $483,230 in contractually designated assets.

Total assets as reported include $22,838,387 invested in property and equipment.

Source of Funds  
Rent Income 5,962,860
Grant Income 1,556,057
Maintenance, Management and Other Fees 1,169,021
Contributions 911,102
Miscellaneous 540,233
Interest Income 290,205
Total Income $10,429,478


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Uses of Funds as a % of Total Expenses

Programs: 93%  Fund Raising: 3%  Administrative: 4% 

Total income $10,429,478
Program expenses $8,962,452
Fund raising expenses 304,325
Administrative expenses 400,560
Total expenses $9,667,337
Income in Excess of Expenses 762,141
Beginning net assets 16,225,954
Ending net assets 17,312,263
Total liabilities 15,138,331
Total assets $32,450,594

This report was originally issued in December 2015. Financial info was updated in March 2017 for fiscal year ending June 30, 2016.

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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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