The Local Community Housing Corporation

What it reported doing in 2024

Home Share PinellasThe Home Share Pinellas program was founded by LCHC in 2006. The program addresses the lack of affordable housing in Pinellas County for 20 years next 2026. The model is simple and extremely impactful if not a life saver. Staff with an extensive professional background facilitate new client (Homeowner Providers or Renters) eligibility process that includes background check of both potential Homeowner, comprehensive application and interviewing process prior to becoming approved as a Home Providers. Providers are homeowners who have a home yet struggle to keep up with ownership expenses such as mortgage, property taxes, homeowners insurance, and maintenance costs. Most of Home Shares current homeowners are from the Baby Boomer generation that want to age in place and maintain the home they have lived in for decades. They need a trustworthy tenant that can reliably pay below the market rate monthly rent. Traditionally Home Share has been able to help Renters negotiate rent rates that are 30% of the total current market rent rate for a one-bedroom apartment in Pinellas County. This steady income allows homeowners to avoid foreclosure, invest in home improvements and maintenance such as new AC, roofing, hot water heaters, etc. and have enough money to live well. Home Share has been able to directly empower long-term quality and stable housing such as 3-10 years matched, which HUD calls length of stay. Home Share Renters are individuals in need of housing that will allow them to pay an affordable rent which no longer exists in the private market across our Nation. Everyone deserves the right and dignity to live in a comfortable and secured dwelling and have long-term housing security and peace of mind versus the year-by-year anxiety of landlord rent hikes. Renters can be adult students, adults, small families (one adult one child or a couple) with a low-moderate income or people on fixed incomes. We often hear from applicants that they cant secure housing assistance vouchers through HUD programs due to the full and closed enrollment waitlists. Our sister agency Tarpon Springs Housing Authority certainly understands this local and national backlog of a population count that significantly exceeds the number of housing options available. This is a national crisis. Renters are working adults who can pay rent close to but not at the market and find it impossible to pay costly applications fees and one years advance rent deposits, creating a barrier to obtaining quality housing if a unit becomes available. A critically important phase of matching a Homeowner Provider and a Renter is talking with them privately and later together about their needs, interests and preferences. The match assessment process is both a skill and a nontangible art. The current Program Coordinator has more than 11 years working for Home Share Pinellas in addition to directly defining the protocol and facilitating the operational objectives to empower quality long term housing security for both the Homeowner and the Renter. Home Share professional staff promote living arrangements that are a good fit and mutually beneficial. Most Home Providers and Renters have stated in customer satisfaction surveys that having a long-term Renter / Home Provider arrangement enabled them to achieve greater quality of life goals because sharing home with another adult, they experienced lower levels of depression, anxiety and stress and strengthened their financial stability. Plus, the companionship is often a welcome bonus knowing that someone cares about your general safety coming and going from your home day by day. Home Share staff enjoy learning about the Home Provider and Renter becoming close friends and sharing their lives together like extended family, participating in hobbies to enjoying the festivities of the Holiday seasons. For the past 6 years, the average length of stay has been more than 27 months (2 years, 3 months. Most Home Providers are current

Financial Efficiency

• Mission deployment rate: 98.4%; rating input score 98
• Program expense ratio: 87.6%; rating input score 88
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 85.7%; rating input score 86; 20th percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -12.4%; rating input score 15; 15th percentile among comparable filings
• Total-asset coverage ratio: 1.59; rating input score 58; 58th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
• Officer compensation ratio: 1.8%; rating input score 59; 59th percentile among comparable filings

Growth

• Program expense growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
• Revenue growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings
• Asset growth: 7.6% per year; rating input score 100; 50th percentile among comparable filings