Organizations Filed Purposes:
The Housing Company 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, management 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 affordable 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.
To develop, acquire, and operate (including management) real estate for elderly, disadvantaged, and limited-income persons.
The Housing Company (Housing) was incorporated in Idaho on August 2, 1990. Housing was formed to develop, acquire and operate real estate for the benefit of elderly, disadvantaged, limited-income or otherwise needy persons throughout the state of Idaho. As of December 31, 2019, Housing had acquired and was operating fifteen multifamily housing complexes; had constructed and was operating fifteen multi-family housing complexes; had constructed two additional phases of housing to existing developments; had completed renovation of a hotel and turned it into a new multi-family complex; had built a single family home known as The Cottage with HOME funds; had purchased land in Montpelier for the purpose of developing and selling workforce housing units; (Continued on Schedule O)had purchased a single family home in Canyon County with federal NSP funds and turned it into special needs housing as intended by the program; had purchased three duplexes in Canyon County with federal NSP funds to rent as affordable housing; had constructed and sold three homes in Nez Perce County with HOME funds; had completed construction on five duplexes in Kuna with HOME and Housing Trust Fund moneys and started the renovation of a hotel to turn into a new multi-family complex in Idaho Falls. In addition, Housing was processing and paying vendor invoices for a condo project, Valley Center Townhomes, owned by IHFA. IHFA reimbursed Housing for net amounts paid and received or Housing pays IHFA if the amount of income received exceeds expenses paid on a quarterly basis. Housing received $200 management fees per month for managing Valley Center Townhomes but all of the Townhomes were sold during 2019 and this process ceased.Housing was given the management responsibility of leasing and managing some 3 (at the end of 2019) single family homes (REO) that are owned and were foreclosed upon by IHFA. IHFA reimburses Housing for the amounts paid for the homes net income received or Housing repays IHFA if the income received is greater than the expenses paid. Housing receives $100 management fee per month for each REO home managed. Housing has entered into several property management agreements with Companies for the management of their Low-Income Housing Tax Credit or HOME multi-family properties located in Idaho. As of December 31, 2019, Housing managed 14 different affordable projects and did the housing compliance for two Idaho non-profit corporations. Housing received management fees but Housing has no ownership in these projects.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Kathryn Almberg | Executive Director | 40 | $139,300 |
| John Parrish | Director | 1 | $1,800 |
| Mark Dunham | Director | 1 | $1,600 |
| V Dale Babbitt | Chairman | 1 | $1,600 |
| John D Jack Beebe | Director | 1 | $1,400 |
| Darlene Bramon | Director | 1 | $1,200 |
| R John Insinger | Director | 1 | $400 |
| Richard Skinner | Secretary | 1 | $0 |
| Gerald Hunter | President | 4 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202002689349300805_public.xml