Overview
What is Threshold Housing Development Inc?
Threshold Housing Development Inc, based in Uniontown, Pennsylvania, is a dedicated nonprofit organization with a mission to improve self-sufficiency for low-income, disabled, or elderly individuals and families. Over the past 25 years, they have accomplished this by developing affordable housing through various methods, resulting in over 300 new and rehabilitated homes in Fayette, Greene, and Washington Counties. Their housing development goals are achieved through three programs: new construction, rehabilitation for resale, and the USDA Rural Development Self-Help Program. In the rehabilitation for resale program, families purchase and renovate homes with assistance from Threshold, while in the Self-Help Program, USDA Rural Development provides mortgages for home purchases and renovations. Threshold's initiatives show a strong commitment to empowering vulnerable populations and improving their living conditions.
Official website here: www.thresholdhousingdev.org/fayette-county/
Is Threshold Housing Development Inc legitimate?
Threshold Housing Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Threshold Housing Development Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $125,479
For more financial information, click here
Official website here: www.thresholdhousingdev.org/fayette-county/
What is the mission statement of Threshold Housing Development Inc?
Threshold Housing Development Inc's mission is centered around promoting self-sufficiency among low-income, disabled, or elderly individuals and families. They achieve this by developing affordable and efficient housing units, offering both rental and ownership options for eligible individuals. Over the past two and a half decades, Threshold has established numerous partnerships, resulting in the development of over 150 new homes and rehabilitated homes across certain counties. Currently, they accomplish their housing development objectives through three programs: new construction, rehabilitation for resale, and the USDA Rural Development Self-Help Program. In the rehabilitation for resale program, Threshold purchases, rehabilitates, and sells homes to families at or below 80% of the area median income, providing necessary funding through a deferred second mortgage. For the USDA Rural Development Self-Help Program, participating families obtain a mortgage from USDA Rural Development to purchase a house and necessary materials for rehabilitation, with Threshold providing guidance and support throughout the process.
Official website here: www.thresholdhousingdev.org/fayette-county/
Who is the CEO of Threshold Housing Development Inc?
David Molchan is the Principal Officer of Threshold Housing Development Inc.
Official website here: www.thresholdhousingdev.org/fayette-county/
What is the revenue of Threshold Housing Development Inc?
Threshold Housing Development Inc's revenue in 2022 was $1,303,982.
Official website here: www.thresholdhousingdev.org/fayette-county/
Who are the executives of Threshold Housing Development Inc and what are their salaries?
The average compensation at Threshold Housing Development Inc during 2022 was $41,826. There are 3 employees at Threshold Housing Development Inc.
Here are 12 key members and their salaries:
- Tammy Knouse (Director)
- Brent Filak (Director)
- Joan Tracy (Director)
- James Krivanek (Director)
- Jessica Hajek-Bates (Director)
- Bob Bakos (Director)
- David Calvario (Director)
- Debby Potkul (Director)
- James Stark (Chairperson)
- Frank Lucente (Secretary)
- Darlene Bigler (Treasurer)
- Jeff Fondelier (Vice-Chair)
Official website here: www.thresholdhousingdev.org/fayette-county/
Where can I find the form 990 for Threshold Housing Development Inc?
The Threshold Housing Development Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.thresholdhousingdev.org/fayette-county/
Learn more at the official website: www.thresholdhousingdev.org/fayette-county/
Mission Statement of Threshold Housing Development Inc
Threshold Housing Development Inc, a nonprofit organization, is committed to enhancing the self-sufficiency of low-income, disabled, or elderly individuals and families. They achieve this mission by developing and promoting affordable housing units for both rental and ownership by these groups. Over the past 25 years, Threshold Housing Development Inc has established numerous innovative partnerships, leading to the development of over 150 new homes and 150 rehabilitated homes in Fayette, Greene, and Washington Counties.
The organization accomplishes its mission through various methods. One of their programs involves purchasing and rehabilitating homes, which are then sold to families at or below 80% of the area median income. Participating families are required to contribute 3% of the total purchase price at closing and secure a mortgage loan for 80% of the cost of the home. The remaining 17% of the purchase price and all closing costs are provided to the family through a deferred second mortgage. Threshold Housing Development Inc has successfully implemented this program using various funding types, most recently through Home Investment Partnerships Program funds subcontracted through local redevelopment authorities.
Another program offered by Threshold Housing Development Inc is the USDA Rural Development Self-Help Program. In this program, families are approved for a mortgage through USDA Rural Development. The mortgage is then used to purchase a house and necessary materials to rehabilitate the house. The homeowner is expected to spend approximately 120 hours rehabilitating the house. Threshold Housing Development Inc provides an experienced construction supervisor to instruct the homeowner in the necessary skills and to offer ongoing support and guidance. This program not only provides affordable housing but also empowers families to actively participate in the process of improving their living conditions.
Impact
This information is meant to be a general summary of Threshold Housing Development Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Threshold Housing Development Inc's impact can be seen in the tangible outcomes of more than 150 new homes and 150 rehabilitated homes developed throughout Fayette, Greene, and Washington counties over the last 25 plus years. By acquiring, developing, and managing real and personal property, Threshold Housing Development works towards its mission of enhancing the self-sufficiency of low-income, disabled, or elderly individuals and families. Through programs like new construction, rehabilitation for resale, and the USDA Rural Development self-help program, Threshold Housing Development provides affordable and efficient housing options for those in need, ultimately contributing to the betterment of communities and improving the quality of life for individuals and families facing housing challenges.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Organization Details
Founding Year
1991
Phone
(724) 437-9080
Principal Officer
David Molchan
Main Address
55 N BEESON AVENUE, UNIONTOWN, PA, 15401
NTEE Category
Code: L99Z - Housing
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