BUY, FIX, KEEP : BUILDING NEIGHBORHOODS TOGETHER

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1 Our Mission: Assists in providing decent, safe, and affordable housing and revitalizing neighborhoods to improve the quality of life in our communities Annual Report BUY, FIX, KEEP : BUILDING NEIGHBORHOODS TOGETHER

2 Dear Friends & Partners: This year marks Resources (NWDHR) 20th year since inception. As we look back on 2012 we embrace our accomplishments and look forward to our future endeavours. We consistently drive our mission by providing safe, decent, and affordable housing and revitalizing neighborhoods to improve the quality of life for the people and communities we serve. Through our mission and partnerships we continue to work diligently to revitalize neighborhoods throughout our communities. In 2012, Wells Fargo partnered with NeighborWorks to help support our mission by donating a foreclosed property in Rapid City. NeighborWorks Dakota Home Resources was able to acquire funds and partnerships to demolish the existing structure and build a new home. Thanks to these efforts, the Chasing Hawk family (featured on the cover) will have a permanent and affordable place to call home. At our core, Resources is about helping people and building communities. Quality, affordable homeownership opportunities are certainly needed, but we cannot stop there. Resources offers an array of enrichment activities through our community outreach programs. In June of 2012, we celebrated our 18th year of Paint the Town. This also helped kick off our 2012 NeighborWorks Week. We engaged residents to paint homes, plant gardens, and revive neighborhoods and homes. Our efforts not only positively impacted many communities, but also helped us gain recognition from NeighborWorks America. During NeighborWorks Week, NeighborWorks America s Steve Hermes presented the Bill Kitchen Award to our organization. The Bill Kitchen Award recognized NWDHR as having the Best NeighborWorks Week plan within the 13-state Midwest Region. Community involvement is vital for the success of all our community events; we would like to thank all our volunteers and supporters who help make our community programs a success. Thank you to all who contributed to NWDHR s ongoing Campaign for Homeownership. For every dollar Resource receives, we are able to leverage $36 additional dollars to fund our programs and services. Thanks to great partners like you, whether through volunteering or capital contributions, we are able to maximize local and federal funds to achieve out mission. On behalf of the board of directors and staff of NeighborWorks Dakota Home Resources, I thank you for your support in making the dream of homeownership a reality for our families. As we enter into our third decade of service to Western South Dakota, we will continue to support our mission by expanding our services and remaining committed to providing decent, safe, and affordable housing. Sincerely, Resources, Executive Director, Joy McCracken & Board President, Eric Fowler Eric Fowler - NWDHR Board President

3 Helping Residents Buy Their Homes It is a great accomplishment knowing that I was able to obtain a home as a single parent. I did not think I could accomplish it all on my own, but I did! - Jerilyn Chasing Hawk. Resources has helped more than 950 households achieve the benefits of owning a home. The impact of having strong partnerships played a big roll in helping first-time homeowner Jerilyn Chasing Hawk, and her four children have a permanent place to call home. In 2012, Resources (NWDHR) partnered with Wells Fargo and utilized Wells Fargo s REO program to create an affordable home for the Rapid City family. Wells Fargo s REO Program facilitates the transfer of properties owned by Wells Fargo and investors to nonprofit housing intermediaries, like NWDHR, that have a history of providing sustainable, affordable homeownership. Wells Fargo Business Banking Vice President, John Sendan stated, We re thrilled to continue our work with Resources to help stabilize and rebuild Black Hills neighborhoods, especially on a project that s consistent with our commitment to environmental stewardship. By donating this property, we re providing more than just safe and affordable housing we re providing hope for people in need. That is exactly what this partnership created: hope for a family in need of a home. Resources demolished the existing structure and built a new four-bedroom, two-bathroom, quality home for the Chasing Hawk family. Jerilyn had diligently been working with Teton Coalition for over three years when this opportunity became available. She had completed home buyer s education, improved her credit score, and was ready to purchase a home but was unsure about purchasing a home. I wanted to become a homeowner, but I was scared to take the leap, but thanks to each organization, I knew I was ready to be a homeowner, Jerilyn stated. Resources began working with Jerilyn to design her future home. In November of 2012, NWDHR began constructing her home. Thanks to the partnership with Teton Coalition, First Interstate Bank, Rapid City Community Block Grant, and Dakota Land Trust, NWDHR was able to build Jerilyn and her family an affordable home. The family will relocate to their brand new home in June, of Jerilyn Chasing Hawk s hard work is a proven success. The dream of homeownership is a long-term goal, but with great partnerships and hard work, families can achieve their goal of homeownership. Resources would like to thank all of the partners that made homeownership possible for the Chasing Hawk family. Dakota Land Trust Thanks to the support from organizations throughout South Dakota, Dakota Land Trust (DLT) has entered into its fourth year of operation. Dakota Land Trust offers unique homeownership opportunities for families in communities while maintaining affordable housing for the future. Their mission is to create opportunities and foster stewardship of permanently affordable housing for low-income and moderate-income families and individuals Through this mission DLT has been able to provide affordable housing for 20 families throughout seven communities. The partnerships and contributions from South Dakota Housing Development Authority, Black Hills Vision, the City of Spearfish, the City of Rapid City, and Resources have been crucial for DLT s success. Dakota Land Trust looks forward to creating and strengthening new and existing partnerships that will allow DLT to reach their goal of assisting 10 families every year. Fast Facts About Resources: Total Families in Homes Since 1992: 950 First Time Home Buyers in Single Parents: 24

4 Helping Residents Fix Their Homes November of 2011, Resources (NWDHR) began working with Rapid City resident, Janice Benson. Janice s home needed substantial rehab to improve the quality and safety of her living conditions, but the financial burden of completing this project was too costly on her fixed monthly income. Resources began working with Janice to help rebuild her credit and pursue other sources of funding to help ease the burden. NWDHR partnered with NeighborWorks America, South Dakota Housing Development Authority and Rapid City Community Development Office to secure needed rehab funds. The Community Development Office works with community organizations to identify issues, human needs and gaps in services that affect the living standards of the residents of Rapid City. The safety issues dealing with Janice s home fit into these categories, making her eligible for assistance. Due to the major construction and evidence of asbestos, Janice had to move from her home temporarily. However when she was allowed to return, she had lots to be thankful for. The project included installing a new water heater, replacing kitchen cabinets, updating and replacing the plumbing and bathroom fixtures, and updating the electrical outlets. The floor joist and the sub-flooring the bathroom and kitchen were also replaced. I am just so thankful everything is done, and I am still in my home. I could have not done these repairs without their help. The staff was just wonderful, and really helped me get through the construction, Janice Benson stated. Resources is able to provide low-interest rate loans for home rehabilitation and repair projects throughout Western South Dakota thanks to the support from NeighborWorks America, South Dakota Housing Development Authority, US Bank and Wells Fargo Bank. Fast Facts About Resources Home Rehab Program Resources assisted 35 families with home rehab and repairs in Assistance ranged from replacement of furnaces and hot water heaters to updating electrical and plumbing in homes. Resources believes that rehabilitation of properties is an effective way to preserve affordable homes. In fiscal year 2012, Resources invested over $100,000 into preserving and rehabbing affordable homes throughout Western South Dakota. 35 Families were assisted in 10 communities with home rehab : Lead: 7 Deadwood: 2 Edgemont: 1 Keystone: 1 Rapid City: 14 Sturgis: 4 Black Hawk: 1 Newell: 2 Belle Fourche 1 Piedmont: 1 How Can You Support Resources? Resources is a 501(c)(3) charitable organization and relies on financial and in-kind contributions from individuals, foundations, corporations, business and civic organizations in order to provide affordable housing and revitalize neighborhoods throughout our communities. Charitable support from the community is essential to our work. Your Support Helps Us To: Develop permanently affordable housing. Provide homeownership education and lending services to help people purchase a home within their means. Help homeowners in danger of foreclosure come to a successful resolution with their housing trouble. Engage in neighborhood activities that positively impact communities.

5 Helping Residents Keep Their Homes Sherry Bald Eagle Bear and her two nieces will now have a safe and affordable place to call home. Sherry purchased a South Dakota Housing Development Authority (SDHDA) Governor s House in the McGuigan Ranch Subdivision in Spearfish. Sherry utilized a 502 Direct Loan from USDA Rural Development, and Resources down payment and closing cost assistance, to provide funding for the home. She also participated in NWDHR s home buyer education classes to educate her on the entire home buying process. Sherry never thought that she would be able to own a home due to her fixed income. It was not until she was referred to USDA Rural Development that she discovered programs like the Governor s House and Resources. These programs and partnerships create affordable home ownership opportunities that help families with low-to-moderate incomes get into homes. By creating such programs, homeowners have a higher likelihood of succeeding as homeowners. Once I was qualified for the loan. I thought the process was finished. I did not know how long the process would take, stated Sherry. I attended the homebuyer education classes and was educated on the entire process. The NeighborWorks staff, and their education program helped me through the process, including the construction, stated Sherry. Sherry said the only thing she would have changed about the process was she wished she had attended the homebuyer education class before she was pre-qualified. The information I gained from the class was so valuable. A recent study completed by NeighborWorks America reassures us just how valuable home buyer education is. A survey completed in 2012 states that Quality pre-purchase housing counseling and education makes first-time homebuyers onethird less likely to have serious mortgage trouble compared to similar homebuyers. Resources offers pre-purchase housing counseling and education provided by certified professionals. The homebuyers who complete homebuyers education are less likely to be three or more months late on their mortgage. The likelihood of foreclosure or other default-related costs are reduced, helping a lender s or service s bottom line. Resources Fast Facts About Homebuyer Education, Post Purchase and Financial Capacity Homebuyer Education Buy Resources provided Homebuyer Education to 89 families and pre-purchase counseling to 279 families in Homebuyer Education focuses on financing options, budgeting, insurance, home inspections and appraisals. Post Purchase Fix NeighborWorks Dakota Home Resources provided Post Purchase classes to 87 families and counselled 218 families on post-purchase issues. Post-Purchase Maintenance provides hands-on maintenance courses that covers such topics as interior painting, ceramic tile landscaping and much more. Foreclosure Prevention Keep Resources counseled 21 families on foreclosure prevention in Money For Life and Budgeting Classes provides credit counseling and educates families on the importance of budgeting, saving, and maintaining a good credit score.

6 Community Revitalization Each year Resources (NWDHR) engages residents to participate in NeighborWorks Week. Volunteers throughout our communities scrap and paint homes, clean up neighborhoods, swap plants, and engage in community activities. In 2012 volunteers and NWDHR organized Revive Five. Revive Five was the result of five Western South Dakota residents attending the NeighborWorks America Community Leadership Institute (CLI). The challenge of Revive Five was to impact five homes within visible sight of each another, utilizing partnerships to make a positive, visible impact on the neighborhood and community. Rapid City Police Department and College Park Block Club building stairs for Rose Suliveres. Volunteers from the Rapid City Police Department assisted in the selection process, determining which homes could utilize this service, and provided volunteer hours to complete the repairs. Five homes throughout the College Park neighborhood were selected. Rose Suliveres home on Lemmon Avenue was one of the homes selected. Rose s home was greatly in need of new stucco, a fresh coat of paint, and new steps. Rose stated that she was very thankful for Revive Five and NWDHR. Without their program, I would not have been able to do these repairs. I have fallen down my steps multiple times. Having new steps will make my home much more safe, Rose explained. Revive Five impacted five homes throughout the College Park neighborhood, but the outcome brought even more success. Revive Five introduced Rose to Resources home rehab assistance program. Resources Partners Adams-Mastrovich Family Foundation Black Hills Power Black Hills Vision Town of Central City City of Deadwood Deadwood Historic Preservation City of Edgemont City of Lead City of Spearfish City of Sturgis Citi Foundation Community Development Financial Institution Deadwood Gaming Association Homeowenership Education Resource Org. Lawrence County Meade County NeighborWorks America Pro-Build Spearfish U.S Department of Housing and Urban Dev. South Dakota Housing Dev. Authority Twin City Hardware United Way of the Black Hills USDA Rural Development US Bankcorp Community Dev. Corporation Wells Fargo Community Dev. Corporation West River Electric - Rapid City Thanks to NWDHR s home rehab program, Rose received assistance to better insulate her home, repair windows, install an exhaust fan in the bathroom and smoke detectors throughout her home. Not only has the exterior been greatly improved, it is safe and sound on the inside.

7 2012 Financial Report Resources 2012 Contributors Balance Sheet 2012 Assets Cash... $368,049 Cash Restricted for Loans.$681,701 Loan Receivable... $47,725 Inventory Property... $930,576 Prepaid Expenses... $9,133 Property and Equipment Office Building... $448,799 Other Rental Buildings.. $1,759,239 Furniture... $185,889 Depreciation...($334,562) Investments Loan Receivables... $1,115,409 Restricted Cash & Debt Reserve... $686,608 Total... $6,328,566 Current Liabilities Current Portion of Debt... $164,164 Accrued Expenses... $90,989 Account Payable....$67,962 Long Term Liabilities Long Term Debt....$2,826,731 Net Assets Unrestricted... $1,429,479 Temporarily Restricted... $45,759 Permanently Restricted... $1,703,482 Total... $6,328,566 Revenue By Source: 24% Neighborhood Reinvestment 31% Program Income 22% Other Program Grants 3% Federal Government 7% Contributions 13% Rental Income Expense By Program: 49% RLF / Homeownership 19% Real Estate Development 19% Community Engagement 4% Property Management 9% Administration Gold Leader (Investment of $10,000 or More) Adams-Mastrovich Family Foundation Community Leader (Investment of $5,000-$9,999) Donald Dietz City of Deadwood First Interstate Bank Wells Fargo Community Builder (Investment of $2,500-$4,999) City of Lead City of Spearfish City of Sturgis Block Builder (Investment of $1,000-$2,499) City of Central City Deadwood Gaming Association Todd Deaux First Wesleyan Church Madonna Goodart Johnson Tree Service Knecht Home Center Rushmore Radio Wharf Resources Neighbor (Investment of $100-$999) Advanced Thermal Systems John & Sherri Ashley Sam Benne Black Hills Power Larry Heinbaugh Deadwood Gulch Gaming Resort Deadwood Recreation Center Edge Sports Elkhorn Ridge Golf Course Eric & Trayce Fowler Days Inn Lead Historic Homestake Opera House Friend (Investment of $100 -$349) Action Mechanical George Adamson John & Sherri Ashley Dale & Susan Berg Dennis & Nancy Bridenstine Lisa & Dan Cooley Dan s Dumpster Service Resources would like to thank everyone that made a contribution in Please visit out web site for a complete list of 2012 contributors.

8 BOARD OF DIRECTORS Eric Fowler President Dee Black Vice President/Treasurer Tom Adams Secretary Floyd Rummel, III TJ Larson Heidi McBride Larry Griffin Jim Phillips Dean Sigman Amy Young Bear Darin Derosier Deb Fegueroa STAFF Joy McCracken Executive Director Robert Thorp Home Rehab Specialist Susan Stevens Property Manager/Accounting Tracy Thacker Community Outreach Coordinator Sharon Martinisko Homebuyer Education Facilitator Michael Dennis Assistant Dennis Rentz Construction Manager Krystal Stulken Funds Manager Ellen Janise Administrative Assistant/Property Manager Carol McMann Loan Processor Doris Nelson Loan Counselor Roxanne Andre Box Elder Community Outreach Tammera Biller Edgemont Community Outreach Resources 795 Main Street Deadwood, South Dakota In accordance with Federal Law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating the basis of race, color, national origin, age, disability, religion, sex, and familial status (Not all prohibited bases apply to all programs.) Stephany Valkenburg Marketing Director/Dakota Land Trust