Sarasota Housing Funding Corporation

Transcription

1 Sarasota Housing Funding Corporation SUMMARY Mission Sarasota Housing Funding Corporation's mission is to expand the supply of affordable housing in Sarasota and advance the goals and mission of the Sarasota Housing Authority. Contact Information Primary Address 269 S. Osprey Avenue #100 SARASOTA, FL Alternate Address 269 S Osprey Blvd Sarasota FL Phone akeddell@sarasotahousing.org Website Facebook Sarasota-Housing-Authority / General Information nprofit Supported Organization Tax Exempt Status Sarasota Housing Funding Corporation Sarasota Housing Authority Public Charity Type I Supporting Organization Incorporation Year 2009 State Charitable Solicitations Permit Oct

2 State Registration 0 2

3 BACKGROUND & NEEDS Impact Statement Accomplishments: 1. Increased the number of affordable housing rentals for low and very-low income families to 67 units. 2. Held a successful 6th Annual Shop with a Cop holiday shopping event with over 50 Sarasota Police officers who volunteered to take 100 kids from public housing shopping for gifts with donations to purchase Target gift cards. This event helps build mutual trust and respect and builds lasting relationships that will help the community. Goals: 1. Raise funds for and host 7th annual Shop with a Cop shopping event in December Needs Statement 1. Support for our Shop with a Cop holiday event that pairs up Sarasota Police officers with children from public housing to break down misconceptions and build trust and key relationships. Background Statement SHFC is a non-profit that was created to support the Sarasota Housing Authority in advancing it mission. SHFC has made tremendous progress in the past few years in acquiring/rehabbing/developing 67 units of affordable housing that are all leased to low and mostly very-low income families in Sarasota. SHFC has sponsored four (6) successful Shop with a Cop holiday shopping events with the Sarasota Police Department (SPD) to build more positive relations between SPD and families who reside in public housing. Statement from the Board Chair Statement from the CEO/Executive Director The formation of the Sarasota Housing Funding Corp as a 501c3 affiliate of the Sarasota Housing Authority (SHA) was a major step in the entrepreneurial growth and vision of SHA. While SHA qualifies as a 501c1 nonprofit, it is not eligible for the same funding sources as a 501c3. It is for that reason that SHA decided to create its first 501c3, the Sarasota Housing Funding Corp. HUD has encouraged housing authorities to create non-profit affiliates to expand the potential funding sources needed to develop and expand the supply of affordable housing in their jurisdiction as well as to expand services for our residents. SHFC has partnered with local government to develop 67 affordable apartments in Sarasota that are owned and managed by SHFC and leased to low and very-low income families. SHFC aims to continue addressing local affordable housing challenges. Areas Served FL- Sarasota While the housing authority houses families throughout Sarasota County and into Manatee, most of the physical apartments owned and managed by the housing authority and SHFC are in rth Sarasota. 3

4 Service Categories Primary Organization Type Secondary Organization Type Tertiary Organization Type Housing, Shelter Community Improvement, Capacity Building Youth Development 4

5 PROGRAMS Annual Shop with a Cop Program Description Shop with a Cop pairs up to 100 local underprivileged children with local law enforcement to shop for holiday gifts at a local Target. The Sarasota Housing Authority, through donations, provides Sarasota Police officers with Target gift cards to purchase gifts for the kid(s) they shop with. Budget $10, Category Program Linked to Organizational Strategy Population Served Short Term Success Long Term Success Program Success Monitoring Program Success Examples Philanthropy, Voluntarism & Grantmaking, General/Other Community Service Children and Youth (0-19 years) Families This program has run four successful years. The Shop with a Cop event is an initiative designed to help build mutual trust and respect between law enforcement officials and children of families living in Sarasota Housing Authority communities. After just four years, there is already evidence that officers and families have stronger relationships, trust and mutual respect. Query officers and families about the perceived impact of the event during and after the event. Increase in funds raised from year to year in order to increase number of kids participating. Knowing the children participating have gifts for the holiday season, feel appreciated and cared for, and now see local law enforcement as individuals who are about them personally. Seeing the number of SPD officers who show up each year to voluntarily shop with our kids. Positive media coverage. 5

6 Pathways to a Better Life Description Pathways to a Better Life (a 2 Generational program in conjunction with Sarasota Housing Authority to require residents to work or be in school full time while focusing on their children s education and development in order to break the cycle of poverty). PBL offers applicants a super preference to reach the top of our waiting list and thus secure an apartment for their family much faster than would otherwise be possible. In return, the applicants agree to be held accountable for being employed and/or in school on a full time basis as part of their plan to reach self-sufficiency. The program is built on four pillars: 1. Belief in the ability of our residents; 2. The value of high expectations; 3. Taking ownership of and accountability for choices; 4. A two generational approach to propelling families out of poverty and breaking the generational cycle. Budget $50, Category Program Linked to Organizational Strategy Population Served Short Term Success Long Term Success Program Success Monitoring Program Success Examples Housing, General/Other Affordable Housing Families Poor,Economically Disadvantaged,Indigent Unemployed, Underemployed, Dislocated Adults: Stable employment (adult family member(s), GED/post secondary education, professional certifications, life and financial skill development, financial asset building. Children: Early childhood education (pre-school/vpk, consistent school attendance, after school programming, tutoring, case management. The single motivation for SHA proposing this pilot program is to partner with families for the express purpose of breaking the cycle of poverty and bringing about self-sufficiency. We believe families who are willing to work hard should have the opportunity to achieve a better life through being provided the benefit of public housing while they participate in this program. A focus on supporting children with a focus on education will be a strong component with the goal of our at-risk youth graduating from HS and have the opportunity to attend college and get out of low-income housing altogether. Earned income Savings/asset development School attendance and grades (adults and kids) This is a brand new program. 6

7 After School Learning Center Description The Sarasota Housing Authority s After School Learning Center assists approximately 25 students with homework help and tutoring assistance. There is a certified teacher available daily to coach students who have been identified by a teacher, staff or parent as needing additional help with reading skills. Students also have access to computers and online educational software. Budget $15, Category Program Linked to Organizational Strategy Population Served Education, General/Other Afterschool Enrichment Children Only (5-14 years) K-12 (5-19 years) Short Term Success The students that attended the Learning Center during the school year saw an improvement in grades or maintained grades when consistently in attendance. 54% of students made honor roll. 27 of students showed an improvement or maintained GPA. 88% of students had good attendance as and not labeled as chronically absent. 50% of students that had attendance issues showed improvement during the second semester. Long Term Success SHA is dedicated in our efforts of eliminating the achievement gap for children growing up in public housing. It is our hope that every child has the opportunity to perform on or above grade level. SHA has aligned its efforts with the Campaign for Grade Level Reading and will highlight three key areas to address in order to eliminate the achievement gap: 1. School readiness - SHA has an on-site VPK classroom serving 20 kids during the school year. All students that were in attendance were Pre-K ready. 2. Chronic absences - SHA monitors attendance data, identifies chronic absenteeism and attends the Alta Vista SWISS team meetings with school principle, social worker, teacher, parent and student to address the attendance and absenteeism of the student. 3. Summer learning loss - Summer Enrichment Program students receive 2 hours per day in academic activities delivered by our certified teacher. Book em Cops 'n Kids book giveaway events to coincide with National Summer Learning Day. SHA partners with the Community Foundation of Sarasota and Sarasota Police Department to deliver books to children within our properties. Program Success Monitoring This past school year SHA was able to collect data from various sources that will be used to establish bench marks. SHA will use those benchmarks to measure and track the following. School attendance records - Every two weeks. Report cards - Quarterly report cards are received from the schoolboard. I-Ready scores - As they results are available. SHA Learning Center attendance - Tracked daily. 3rd Grade Reading Levels - Annually 7

8 Program Success Examples Students that attended the Learning Center received many success throughout the year. 100% of the students attending the intensive reading program showed an increase in reading skills and improved grades. Students had an increase in FCAT and I-Ready Scores. Increase in students receiving Renaissance (most improved awards). Increase in the number of students with improved self-esteem and confidence. 8

9 MANAGEMENT CEO/Executive Director CEO/Executive Director CEO Term Start May 2005 CEO Mr. William O Russell III wrussell@sarasotahousing.org Experience Currently serves as CEO for Sarasota Housing Authority with a $17 million annual budget and staff of 31 which provides housing subsidy for over 1,800 families. Took over a HUD-designated troubled agency at the beginning of a rare federal receivership and quickly transformed agency in to a high performer in all HUDassesses aspects (98% overall). Led the troubled Section 8 voucher program from an assessment score of 39 to a perfect score of 100, culminating in the take-over of the county s voucher program. SHA was honored by its 85 peer agencies in FL as the Most Outstanding Agency of the Year in Initiated and garnered broad coalition of local support for and now directing a major $100 million redevelopment of 288 distressed public housing units on 40 acres into a mixed-income community with over 550 units of housing. The first two phases totaling 154 apartments is fully occupied and the third phase that began leasing in the summer of 2016 now provides 72 new units. Staff & Volunteer Statistics Full Time Staff 0 Part Time Staff 0 Staff Retention Rate % Professional Development N/A Contractors 0 Volunteers 7 Management Reports to Board CEO/Executive Director Formal Evaluation Senior Management Formal Evaluation nmanagement Formal Evaluation N/A Collaborations All Faiths Food Bank Boys and Girls Club of Sarasota Brotherhood of Men CareerSource Suncoast Children First City of Sarasota Community Foundation of Sarasota County 9

10 Department of Children and Families Early Learning Coalition Of Sarasota County Habitat for Humanity Iberia Bank Manasota Goodwill Industries Manatee Technical Institute Salvation Army Sarasota Chamber of Commerce Sarasota County Government Sarasota County Schools Sarasota County Sheriff Office Sarasota County Technical Institute (SCTI) Sarasota Police Department SPARCC State College of Florida Suncoast Coalition to End Homelessness Suncoast Workforce Board Unitarian Universalist Church of Sarasota United Way Suncoast Women s Resource Center YMCA Comments Management Comments by Organization There are no direct full or part time employees under the Sarasota Housing Funding Corporation (SHFC). SHFC relies on and utilizes the staff of SHA under a Consulting and Shared Services Agreement and all staff are governed by SHA policy and procedure. SHFC reimburses SHA monthly for staff time spent on SHFC business. 10

11 GOVERNANCE Board Chair Board Chair Mr. John Colon Company Affiliation Wells Fargo Investments Board Term July 2017 to July 2018 Board Chair Board Co-Chair Board Co-Chair Mr. David L Morgan Company Affiliation DL Morgan & Associates Board Term July 2017 to July 2018 Board Co-Chair dmorgan@sarasotahousing.org Board Members Name Affiliation Status Ms. Valerie Buchand Community Volunteer Voting Mr. John Colon Wells Fargo Advisors, LLC Voting Ms. Veavie DeLaughter Retired Voting Mr. G. Duane Finger Retired Voting Pastor Peter Greenidge Light of the World International Church Voting Mr. Jack Meredith Hoyt Architects Voting Mr. David Morgan DL Morgan & Associates Voting Board Demographics - Ethnicity African American/Black 4 Asian American/Pacific Islander 0 Caucasian 2 Hispanic/Latino 1 Native American/American Indian 0 Other 0 0 Board Demographics - Gender Male 5 Female 2 t Specified 0 Governance 11

12 Board Term Lengths 4 Board Term Limits 99 Board Orientation Number of Full Board Meetings Annually 3 Board Meeting Attendance % 86 Board Self-Evaluation Written Board Selection Criteria Percentage of Board Making Monetary Contributions 71 Percentage of Board Making In-Kind Contributions 14 Constituency Includes Client Representation Comments Governance Comments by Organization The SHFC board normally meets 3-4 times a year or as needed. It is the same board as SHA, which meets 10 times per year, so it is an active board. The SHA Board is appointed by the (rotating) Mayor of Sarasota. 12

13 FINANCIALS Current Financial Info Fiscal Year Begins 2017 Fiscal Year Ends 2018 Projected Revenue $734, Projected Expenses $587, Total Projected Revenue includes "in-kind" contributions/ donations Endowment Value $0.00 Spending Policy Percentage 0 Tax Credits Capital Campaign In a Capital Campaign Campaign Goal 0 IRS Form 990s Form Audit/Financial Documents Sarasota Housing Authority Audit 2015 Sarasota Housing Authority Audit 2014 Sarasota Housing Authority Audit 2013 Solvency Short Term Solvency Fiscal Year Current Ratio: Current Assets/Current Liabilities Long Term Solvency Fiscal Year Long-Term Liabilities/Total Assets 91% 96% 96% Historical Financial Review Revenue and Expenses 13

14 Fiscal Year Total Revenue $694,109 $707,109 $602,146 Total Expenses $577,754 $679,098 $639,103 Revenue Sources Fiscal Year Foundation and Corporation $0 $0 $0 Contributions Government Contributions $0 $0 $6,238 Federal $0 $0 $0 State $0 $0 $0 Local $0 $0 $0 Unspecified $0 $0 $6,238 Individual Contributions $16,173 $28,848 $0 Indirect Public Support $0 $0 $0 Earned Revenue $677,799 $677,786 $595,767 Investment Income, Net of Losses $137 $475 $141 Membership Dues $0 $0 $0 Special Events $0 $0 $0 Revenue In-Kind $0 $15,100 $0 Other $0 $0 $0 Expense Allocation Fiscal Year Program Expense $569,897 $669,815 $612,383 Administration Expense $7,857 $9,283 $26,720 Fundraising Expense $0 $0 $0 Payments to Affiliates $0 $0 $0 Total Revenue/Total Expenses Program Expense/Total Expenses 99% 99% 96% Fundraising Expense/Contributed Revenue 0% 0% 0% Assets and Liabilities Fiscal Year Total Assets $12,482,727 $11,484,902 $11,546,066 Current Assets $627,300 $778,565 $653,642 Long-Term Liabilities $11,414,058 $11,019,767 $11,127,218 Current Liabilities $629,564 $142,385 $124,109 Total Net Assets $439,105 $322,750 $294,739 Top Funding Sources Fiscal Year Top Funding Source & Dollar Amount Net Tenant Rental Revenue $669,549 Net Tenant Rental $627,224 Tenant Rental Revenue $583,684 Second Highest Funding Source & Dollar Contributions, gifts, Other Income Tenant Revenue - Amount grants $16,173 $42,790 Other $12,083 Third Highest Funding Source & Dollar Amount Tenant Revenue - Other $7,989 Contributions, gifts, grants $28,848 Government Grants - Unspecified $6,238 Comments Financial Comments by Organization The audited financial statements are for the Sarasota Housing Authority. Sarasota Housing Funding Corporation information can be found on pages of the report for 2014 and pages for

15 Financial Comments by Foundation Financial information taken from Federal tax returns and audited financial statements, where available. Contributions include foundation and corporate support. 15

16 PLANS, POLICIES & LICENSES Plans Fundraising Plan Communication Plan Strategic Plan Strategic Plan Adopted Apr 2012 Years Strategic Plan Considers 5 Management Succession Plan Continuity of Operations Plan Policies Organizational Policies and Procedures Written Conflict of Interest Policy ndiscrimination Policy Directors and Officers Insurance Policy Whistle Blower Policy Document Destruction Policy Government Licenses Is your organization licensed by the Government? Planning & Policies Comments Planning & Policies Comments by Organization Planning & Policies Comments by Foundation Created Copyright