Affordable housing has become one of the most pressing issues in modern society, with millions of individuals and families struggling to secure a safe and stable place to live. In this context, organizations like Frontier Housing Corporation play a vital role in bridging the gap between housing needs and accessibility. As a nonprofit leader in affordable housing solutions, Frontier Housing Corporation has consistently worked toward creating opportunities for homeownership, financial stability, and community development.
| Feature | Details |
|---|---|
| 1975 | |
| Non-profit 501(c)(3) | |
| Dexter, New York | |
| Since July 1981 | |
| – Develop and manage affordable housing | |
| – Participate in economic development activities | |
| Low to moderate-income families | |
| Frontier Housing |
By the end, you’ll not only understand the organization’s role in addressing the affordable housing crisis but also gain insight into how nonprofits like Frontier Housing shape the communities they serve.
What is Frontier Housing Corporation?
Frontier Housing Corporation, established in 1975, is a nonprofit organization dedicated to affordable housing solutions. Based in Kentucky, the organization primarily focuses on assisting low-to-moderate income families in obtaining safe, affordable homes. Its mission emphasizes empowering people through homeownership, providing financial coaching, and offering essential housing programs to enhance the quality of life for individuals and families.
Nonprofit organizations like Frontier Housing are critical in addressing the housing crisis. They work to eliminate barriers to homeownership, such as poor credit, high property costs, or lack of financial education. Frontier Housing Corporation not only provides affordable housing but also serves as a beacon of hope for families who dream of owning a home.
Background of Frontier Housing Corporation
Establishment and History
Frontier Housing Corporation was founded in 1975, during a time when affordable housing was scarce in rural Kentucky. Initially, the organization focused on providing basic housing solutions for underserved communities. Over time, Frontier Housing expanded its services and evolved to address the growing complexities of housing insecurity. Today, it is recognized as an innovative leader in homeownership programs, financial education, and community development.
Nonprofit Status and Purpose
Designated as a 501(c)(3) nonprofit organization, Frontier Housing Corporation operates with the primary goal of benefiting the public. Donations made to the organization are tax-deductible, making it easier for individuals and businesses to support its cause. Frontier Housing falls under the category of housing and shelter nonprofit organizations, offering comprehensive housing support services to families in need.
Geographic Reach
Frontier Housing Corporation serves several counties in Kentucky, including Bath, Boyd, Carter, Elliott, Fleming, Greenup, Lawrence, Lewis, Montgomery, Morgan, Rowan, and Wolfe counties. Its work primarily targets rural and underserved areas, where housing challenges are often more acute. By focusing on these regions, Frontier Housing ensures that even the most vulnerable populations have access to safe, affordable housing options.
Services Offered by Frontier Housing Corporation
One of the key reasons for Frontier Housing Corporation’s success lies in its diverse range of services. These services are designed to address every aspect of housing, from construction to financing and even rehabilitation. Let’s explore each service in detail.
Home Construction
Frontier Housing Corporation provides custom-built homes for families in need. This service is particularly beneficial for individuals who cannot find affordable housing on the market. The process begins with an application, where families must meet certain income and credit requirements. Once approved, Frontier Housing works with clients to design and construct a home that meets their needs.
The organization ensures that its homes are not only affordable but also energy-efficient and built to last. By prioritizing quality construction, Frontier Housing helps families establish a stable and secure living environment.
Home Loans
In addition to building homes, Frontier Housing Corporation offers affordable mortgage lending services. These loans are specifically tailored to low-to-moderate income families who might otherwise struggle to secure financing from traditional lenders. The organization provides flexible terms, competitive interest rates, and expert guidance throughout the lending process.
Frontier Housing also offers various homeownership programs that cater to first-time buyers, single parents, and individuals recovering from financial hardships. This flexibility ensures that more people can achieve their dream of homeownership.
Financial Coaching
One of Frontier Housing’s standout services is its free financial coaching program. This initiative aims to empower clients by providing them with the knowledge and tools they need to manage their finances effectively. Through personalized coaching sessions, clients learn how to:
- Build credit and improve their credit scores.
- Create budgets to manage expenses.
- Save for homeownership or other financial goals.
Financial coaching is a critical component of Frontier Housing’s mission, as it addresses the root causes of housing insecurity—such as poor financial literacy and lack of creditworthiness.
Home Repair and Rehabilitation
For families who already own homes but face challenges with maintenance, Frontier Housing Corporation offers home repair and rehabilitation services. These services include:
- HVAC repairs to ensure proper heating and cooling.
- Accessibility improvements, such as wheelchair ramps and grab bars.
- Energy efficiency upgrades, like insulation and window replacements.
These projects are often funded through grants and low-interest loans, making them accessible to families who might otherwise be unable to afford such repairs. By improving existing homes, Frontier Housing helps families maintain safe and livable conditions.
Financial Overview
Understanding the financial structure of Frontier Housing Corporation sheds light on how the organization sustains its operations and maximizes its impact.
Revenue Sources
Frontier Housing Corporation relies on a mix of contributions, program services, and grants to fund its programs. For example, between 2017 and 2020, the organization reported that:
- 50% of total revenue came from program services.
- 30% of revenue was derived from contributions and grants.
- The remaining 20% came from other sources, such as investments.
This diversified revenue model ensures financial stability and allows the organization to continue serving its community.
Expenses
The organization allocates its expenses across various categories, including employee salaries, program costs, and administrative expenses. Key data from recent fiscal years shows that:
- 70% of expenses are dedicated to program services.
- 20% goes toward employee compensation, including executive salaries.
- The remaining 10% covers administrative and operational costs.
Assets and Liabilities
Frontier Housing Corporation maintains a healthy balance sheet, with total assets consistently exceeding liabilities. For example, in 2020, the organization reported:
| Fiscal Year | Total Assets | Total Liabilities |
|---|---|---|
| 2018 | $5 million | $2 million |
| 2019 | $6 million | $2.5 million |
| 2020 | $6.5 million | $2 million |
Executive Compensation
The leadership team plays a crucial role in the organization’s success. Key figures include:
- Amy Gerstenschlager, Executive Director
- Cheryl Lane, President
Their compensation is reflective of their responsibilities and the scale of the organization’s operations.
Community Impact and Success Stories
The true measure of Frontier Housing Corporation’s success lies in its impact on the community. By providing affordable housing solutions, the organization transforms lives and strengthens communities.
Client Success Stories
Many families have shared inspiring stories about how Frontier Housing changed their lives. One such story involves a single mother who, after years of renting, became a homeowner through the organization’s custom home-building program. Another client, a retired veteran, praised Frontier Housing’s financial coaching services for helping him rebuild his credit and secure a mortgage.
Building Better Communities
Beyond individual success stories, Frontier Housing Corporation contributes to community development by:
- Reducing homelessness in rural areas.
- Promoting economic stability through increased homeownership.
- Fostering stronger neighborhoods by prioritizing quality construction and energy efficiency.
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