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Message from the Board
2
The Board and staff of HomesteadCS would like to thank our donors, partners, and
volunteers for their part in what was a successful year by serving more than 500 households
through our Housing Counseling, Financial Education, and Community Loan Center
programs.
What really helped propel us forward in 2016 was partnerships. Without our partners, we
would not have reached the level of success that we did with our Community Loan Center
(CLC) program. Perhaps our most notable example would be the need to raise $500,000 in
matching grant funds for the CLC. With the help of a dedicated committee of volunteers, we
were able to surpass our goal with flying colors with the support from area organizations
and businesses. As a result, we are well set to offer loans of up to $1000.00 to the
employees of our participating employers in order to help them avoid predatory payday
lending and financial hardships. Furthermore, our CLC partnerships are providing us with the
resources needed to expand our financial education classes to meet an increased demand,
which fits in directly with our mission and vision of making sure residents of our
communities are well-educated about their finances.
In addition to the Community Loan Center program partnerships, we had another impactful
year through our housing counseling programs. While things are improving in our area and
around the country, people are still struggling. In fact, in 2016, we helped 120 families save
their homes from foreclosure, with home values totaling over $15 million. In 2017, with the
help of our partners, we will be working to find ways to continue to serve our families in
need despite foreclosure prevention program cuts at the federal level.
As always, it takes the whole community to help us accomplish our goals. Our success starts
and ends with the help from our partners. We are pleased that so many people and area
businesses came forward in 2016 to help us strengthen the lives of people in our
communities. We are helping people thrive through partnerships, and because of that, we
say thank you.
Jim Slaven, Board President
HomesteadCS
3
Mission
The mission of HomesteadCS is to provide education and other resources to increase
affordable, sustainable housing opportunities and financial stability in the
communities we serve and to be a catalyst for the development and revitalization of
our neighborhoods.
Vision
All individuals and families will be financially educated regarding housing, have the
knowledge and skills to manage financial assets, have access to affordable housing,
and live in safe, well-maintained neighborhoods.
2016 Client Information - 543 Clients Served
Under 30% AMI 19%
31-50% AMI 20%
51-80% AMI 31%
81-100% AMI 10%
Over 100% AMI 13%
No response 7%
AREA MEDIAN INCOME
White 88%
African American 7%
Hispanic 2%
No Response 1%
Asian 1%
Other 1%
ETHNICITY
AGE
25-44, 30%
45-64, 47%
65+, 22%
18-24, 1%
GENDER
Male, 47% Female, 53%
Tippecanoe: 41%
Other : 15.8%
Clinton : 9.6%
White: 8%
Montgomery: 5.8%
Putnam: 4.6%
Boone: 4.4%
Carroll: 4.3%
Fountain: 2.7%
Benton: 2.5%
Warren: 1.3%
COUNTY
Program Accomplishments
Reverse Mortgage
HomeBuyer Education
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Clients completed Reverse Mortgage
Counseling to make informed decisions on
FHA’s Home Equity Conversion Mortgage.
Clients became experts in homeownership by
completing HomeBuyer Education classes.
Foreclosure and Delinquency
Struggling homeowners became Foreclosure
and Delinquency clients. A total of $15 million
in homes were saved from foreclosure.
Program Accomplishments
Hardest Hit Fund Loans
Tenant Education
New Homeowners
5
Of our homebuyer & pre-purchase clients
became new homeowners purchasing over
$2.5 million in homes.
Clients were made aware of their rights
and responsibilities by our Tenant
Education Classes.
Hardest Hit Loans were closed;
distributing nearly $1.3 million in
assistance to keep clients in their homes.
Pre-purchase Counseling
Clients learned the ins and outs of the
home-buying process to make informed
decisions through our Pre-purchase
Counseling services.
5
Program Accomplishments
Community Loan Center
Home Repair NIP
Bank on Tippecanoe
6
Individuals opened new checking accounts at
area financial institutions who would have
otherwise been turned down for an account.
Amount of money per loan distributed to
assist struggling homeowners with home
repair needs.
Number of employees who took out loans to
help them avoid using payday lenders and
other risky lending methods.
Number of clients who were given guidance
about refinancing or assistance through NIP
repair loans after the purchase of a home.
Post-Purchase Counseling
2016 Highlight—Partnerships
7
2016 was year filled with unique partnerships that helped get the Community Loan Center
up and running. With the help of these partners, we were able to raise over $500,000 in
matching grant funds so that we could start the Community Loan Center program.
THANK YOU!
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Financials
Consolidated Statement of Financial Position and Activities
Contributions and Grants $549,397
Contract Service Fees $144,210
Special Events $85,457
Interest $45,667
Program Services Fees $25,407
In-kind & Other Events $17,154
FY 2016 Revenue
Programs $410,192
Supporting Services $84,016
FY 2016 Expenses
63%
17% 10%
5% 3% 2%
82%
17%
8
13
Assets 2016 Total 2015 Total
Cash $ 297,636 $ 79,103
Accounts Receivable $ 50,009 $ 41,994
Prepaid Expenses $ 11,076 $ 7,260
Receivables from Historical Jeff $ 1,635,725 $ 1,591,375
Notes Receivable $ 79,574 $ 7,500
Property & Equppment (net) $ 120,509 $ 114,726
Properties Held for Resale (net) $ 2,000 $ 2,000
Unconditional Promise to Give $ 46,148 $ 26,795
Total Assets $ 2,242,677 $ 1,870,753
Liabilities and Net Assets 2016 Total 2015 Total
Liabilities
Accounts Payable $ 30,716 $ 34,171
Accrued Expenses $ 16,606 $ 15,060
Escrow Liabilities $ 20,218 $ 14,420
Capital Lease Payable $ 10,380 $ 21,242
Deficit Investments in Partnerships $ 29,210 $ 26,397
Total Liabilities $ 107,130 $ 111,290
Net Assets 2016 Total 2015 Total
Unrestriced $ 1,811,947 $ 1,732,668
Temporarily Restricted $ 323,600 $ 26,795
Total Net Assets $ 2,135,547 $ 1,759,463
Total Liabilities and Net Assets $ 2,242,677 $ 1,870,753
Support and Revenue 2016 Total 2015 Total
Contributions, Grants and Special Events $ 646,234 $ 249,823
Contract Service Fees $ 144,210 $ 146,623
Program Service Fees $ 28,407 $ 31,634
Interest $ 45,667 $ 44,352
Bad Debt Recovery $ 4,544 $ 544
Miscellaneous $ 1,230 $ -
Total Support and Revnue $ 870,292 $ 472,976
Expenses 2016 Total 2015 Total
Foreclosure Prevention $ 168,030 $ 268,725
Housing and Financial Education $ 79,073 $ 55,324
Community Loan Center $ 128,494 $ -
Other Programs $ 34,595 $ 35,566
Supporting Services $ 84,016 $ 35,566
Total Expenses $ 494,208 $ 395,181
Net Assets 2016 Total 2015 Total
Increase in net Assets $ 376,084 $ 77,795
Net Assets, Beginning of Year $ 1,759,463 $ 1,681,668
Total Net Assets, End of Year $ 2,135,547 $ 1,759,463
20
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Fin
an
cia
ls
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Platinum Key
State Farm
Silver Key
Caterpillar
Wabash National
Bronze Key
Fifth Third Bank
Old National Bank
Key Chain Link
Amazon Smile
Allstate
Bison Financial
Franklin Finish, LLC
IBEW
Kiwanis Foundation
Lafayette Life Retirees
Lafayette Daybreak Rotary Club
Family
Anonymous
Clarinda Crawford
Rusty and Kathy Davis
Norb & Carolyn Fisher
Jake Franklin
Don & Mary Franklin
Russell & Margery Harvey
David & Melissa Holder
Sheila Klinker
Larry Lohmeier
Doug and Marie Morse
Mark & Tammy McNary
Dick and Cindy Murray
David and Cheryl Rosenthal
Tim & Kimberly Schooler
Jason Schwenk
Charlie Shook
Sherry Walter
Dr. Williamson
Otto & Donna Wuethrich
Partner
James & Sandra Bodenmiller
Daniel & Jacquie Dexter
Thomas & Kathy Murray
Friend
Kara Boehm
Rob& Heather Hart
Gary & Ann Jackson
Joe Kellogg
Stephen & Kelly Mahn
Madison Monteiro
Nancy Morell
Brent & Amanda Rubeck
Scott & Evelyn Royer
Neighbor
Anonymous
Andrew Baumgartner
John & Janet Bergman
John & Dixie Frye
Scott & Sara Goldberg
Jennifer Million
Sheila Talley
Matthew & Amanda Wallace
Key Club Sponsors
Individual Program Donors
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Downright Dreadful (Diamond)
Huntington Bank
Petrifying (Platinum)
Artistic Media Partners (Bob FM 95.3, WAZY
96.5, Your Country 95.7)
McDonald’s
Gruesome (Gold)
Old National Bank
Visit Lafayette, West Lafayette
WCDQ (Country for the Heartland 106.3)
WIMC (Thunder 103.9)
WKOA (Lafayette’s Leading Country K105)
WKHY (Everything that Rocks 93.5, Today’s Hits B102.9)
Sinister (Silver)
Shepard Insurance
Subaru of Indiana Automotive, Inc.
Bloodcurdling (Bronze)
DeFouw Automotive
Creepy (Crystal)
Abstract Technology Group
June Palms Property Management
Purdue Federal Credit Union
Speedpro Imaging
Evil on Erie Contributors
8
Special Event Donations
David Kovich
Doug and Marie Morse
Henriott Group
HuHot Mongoliam Grill
Jake Franklin
Red Seven Bar and Grill
Sgt. Preston’s of the North
Steven and Peg Downham
Sheila Talley
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Homestead Sponsors
American Mortgage
EMT Food Truck
Fleet Feet Sports
First Financial
Lafayette Community Bank
Stallard and Schuh
Contributors
Anonymous
Becky Barnes
Alberta Barker
Dave Bart
Jane Bennett
Ashley Bigelow
Michael Biang
Mark & Ashley Bonnes
C. Brown
Jenny Bohan
Faye Bridgeforth
Janet Burkenpas
Ed Caplinger
Shannon Conley
Luke & Katie Clark
Nancy Cross
Bob Dahnke
Shawn Deignan
Peg Downham
Debbie, Morgan & Cassandra
Esabri
Norb & Carolyn Fisher
Dave Fisher
TW Fisher
Phil Fisher
Dolores Flynn
Jake Franklin
Jeff Gahm
Peter Goldsbrough
Kristin Handy
Heather Hart
Linda Harrell
Lyle Hunter
Elke Hutchins
Jaheen Jensen
Sudhakar Kakani
Sheila Klinker
Ron & Deb Kolczak
David Kovich
Lafayette Association of Realtors
Larry Lohmeier
Jaime Mineart
Sharon Morrissey
Marie & Doug Morse
Cindy Murray
Kathy & Thomas Murray
Ryan Meister
New Community School
Mark Needham
John Nelson
Harry Plantega
Brittni Parson
Lisa Perry
Connie Runyan
Steven Riggs
Charlie Shellie
Colleen Shepherd
Rod Sherman
K. Sigo
Molly Slaven
Jim Slaven
Roger Smith
Carl Smith
Melissa Wagner
Annett Wardell
Jennifer William
Len & Connie Wilson
Ruby Workman
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Homeward Bound Contributors
13
9
United Way of Greater Lafayette
Old National Bank
Lafayette Life Foundation
Purdue Federal Credit Union
Centier Bank
First Financial Bank
The Community Foundation
of Greater Lafayette
Community Loan Center Contributors
9
CDFI Committee
Jake Franklin
Gary Henriott
David Kovich
Marie Morse
Cindy Murray
Joe Seaman
Sherry Walter
Employer Marketing Committee
Michael Budd
Roberta Crabtree
Clarinda Crawford
Jake Franklin
Russ Harvey
Marie Morse
Stephanie Patacsil
Community Loan Center Committee
Jim Slaven, President
Cindy Murray, Vice President
David Holder, Treasurer
Larry Lohmeier, Secretary
Rev. Clarinda Crawford
Norbert Fisher
Heather Hart
Russ Harvey
Sheila Klinker
David Kovich
Kathy Murray
David Rosenthal
Tim Schooler
Charlie Shook
Sherry Walter
Marie Morse, Executive Director
Joe Kellogg, Housing Programs and Facilities Manager
Jake Franklin, Director of Marketing & Development
Kristi Gill, Housing Educator
Sheila Talley, Administrative Assistant
CJ Brown, Part-time Housing Educator
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Board of Directors
Staff
Deb Kolczak
Jeff and Sherry Manny
Jason Rubsam
Office Volunteers
HomesteadCS is a 501(c)(3) non-profit organization located in Lafayette, Indiana
that decreases foreclosure, increases home ownership, and ensures that families in
Tippecanoe and surrounding counties have safe, affordable homes.
Our programs make clients aware of their options in order for them to make in-
formed decisions. If further action is necessary, we work on the client’s behalf to
achieve the best possible solution.
Because we are certified by the state of Indiana and the U.S. Dept. of Housing and
Urban Development (HUD), our clients have access to additional resources that
other organizations are unable to offer.
Thanks to grants and charitable donations, nearly all of our
programs are free. Ensure that area families have safe, affordable
homes by joining our Donor Club at www.HomesteadCS.org/Donate.
HomesteadCS
671 N 36th St.
Lafayette, IN 47905
Phone: 765-423-1284
Fax: 765-637-7949
www.HomesteadCS.org
www.CLCWestCentralIndiana.org