Better Business Bureau Report for
New Directions Housing Corporation

Better Business Bureau Report issued December 2013
Better Business Bureau Report expires December 2015


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 from 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, 2013, New Directions Housing Corporation's program expenses were:

  
Asset and Property Management 5,989,271
Home Ownership Preservation 1,728,287
Resident Services 541,749
Real Estate Development 275,967
Community Building and Organizing 154,684
Total Program Expenses: $8,689,958
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Governance

              

Chief Executive : Joseph E. Gliessner, Chief Executive Officer
Compensation*: 

Chair of the Board: Bill Weyland
Chair's Profession / Business Affiliation: Managing Member, City Properties Group

Board Size: 19

Paid Staff Size: 76

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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, grant proposals, internet, and planned giving arrangements.

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

Fund raising costs were 4% of related contributions. (Related contributions, which totaled $2,837,210, 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 - consolidated for the fiscal year ended June 30, 2013.

Ending net assets as reported below include $13,751,121 in unrestricted net assets , $140,361 in temporarily restricted net assets, and $1,980,459 in permanently restricted net assets.

Unrestricted net assets as reported above include $12,163,744 in operating assets and $1,587,377 in contractually designated assets.

Total assets as reported include $20,989,328 invested in property and equipment.


Source of Funds  
Rent Income 5,038,824
Grant Income-Operations 2,773,935
Mortgage Assignment 1,161,141
Maintenance, Management and Other Fees 1,082,486
Interest Income 354,694
Miscellaneous 129,082
Contributions 63,275
Total Income $10,603,437


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Uses of Funds as a % of Total Expenses

Programs: 93%  Fund Raising: 1%  Administrative: 2%  Other Expenses: 4%

Total income $10,603,437
Program expenses $8,689,958
Fund raising expenses 126,307
Administrative expenses 150,183
Other Expenses 411,410
Total expenses $9,377,858
Income in Excess of Expenses 1,225,579
Beginning net assets 14,647,096
Other Changes in Net Assets (734)
Ending net assets 15,871,941
Total liabilities 16,491,857
Total assets $32,363,798


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

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