Community Partners of South Florida

What it reported doing in 2024

Housing ServicesSupportive Housing Programs provide a blend of social service support and housing assistance to special needs populations, including homeless families, families with mental health or substance use issues who are also trying to transition from welfare to work, as well as adults with chronic mental illness. CPSFL has developed two properties for special needs populations and works with area landlords to facilitate decent, affordable independent living. The Homeownership Promotion and Preservation Program provides a full spectrum of homeownership services, (Continued on Schedule O) including homebuyer education classes, pre-and post-purchase counseling, and access to residential mortgage and down payment assistance. The Prosperity Center program offers low-income residents a one-stop source of financial empowerment services, including a matched-savings program for homeownership, help in resolving credit issues, money management assistance, ACCESS benefits assistance, education and job assistance, plus free VITA (Volunteer Income Tax Assistance) income tax services. SOFI (Security our Future Initiative), a workforce development program, targets households at 50% or below poverty level. The program provides financial literacy workshops, individual financial coaching, income tax preparation, resum writing, interviewing skills, and all training relevant to becoming financially literate and self-sustaining. HPI is a chartered member of the prestigious National NeighborWorks America (NWA), formerly known as Neighborhood Reinvestment Corporation, and as such receives technical and financial support with an emphasis on promoting affordable housing and neighborhood revitalization.In 2024, HPI added a rental counseling component which allowed HPI to provide rental counseling services to existing clients in the pipeline. It can take years to reach mortgage capacity based on income and credit. Many HPI clients have been working for several years to purchase a home. While they wait, HPI offers educational workshops on tenant legal rights, case management, and access to rental assistance to support them in reducing their house cost burden and establishing a savings plan. The second new initiative under the Homeownership Promotion and Preservation Program is the Heirs Property Awareness and education program. This is a new initiative that began in 2024 with the support of JP Morgan Chase. HPI currently has a MOU with Legal Aid Society of Palm Beach County to deliver the educational workshop and help that client needs to navigate the process of Estate Planning and Probate that will last till 2027.Community Land Trust (CLT), HPI developed ten (10) homes through a $1.3 million grant from Florida Housing Finance Corporation and Palm Beach County Department of Housing and Community Development for use in its Community Land Trust (CLT), In accordance with the operating structure of a CLT, the land underneath the homes is owned by HPI, while the homeowner purchases and owns the improvements. The homeowner only pays the purchase price and taxes for the improvements and leases the land from HPI for a nominal amount. This arrangement allows for favorable financing and lower real estate taxes for the homeowner. There are resale restrictions, and the unit must be sold to qualified buyers earning 80% or below of the Palm Beach County Area Median Household Income (AMI), adjusted annually.The Lending Program provides brokerage services for FAHE and serves as a corresponding lender for Bank United, originating and closing loans under HPI. The goal is to close 12 to 15 loans. HPI also originates and closes deferred second mortgages. In 2024, lending and homeownership were more than challenging. Due to a combination of high interest rates and the lack of inventory, HPI did not close any loans for the fiscal year 2023-2024 and fiscal year 2024-2025 HPI had 4 closings, 3 with our CHAMP program and 1 with FAHE, our broker. Currently, HPI serves in P

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 97.3%; rating input score 97
• Fundraising efficiency: $67.99 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -4.8%; rating input score 17; 17th percentile among comparable filings
• Total-asset coverage ratio: 1; rating input score 36; 36th percentile among comparable filings
• Liabilities to assets ratio: 0.66; rating input score 19; 19th percentile among comparable filings
• Officer compensation ratio: 3.8%; rating input score 61; 61st percentile among comparable filings

Growth

• Program expense growth: 9.1% per year; rating input score 100; 67th percentile among comparable filings
• Revenue growth: 6.6% per year; rating input score 100; 57th percentile among comparable filings
• Asset growth: 2.8% per year; rating input score 100; 21st percentile among comparable filings