Horizon Housing Society

About Horizon Housing Society:

Established in 1976, Horizon Housing Society (HHS) provides homes to individuals from varied backgrounds and experiences, including people living with mental health challenges, brain injuries, and physical disabilities, individuals, seniors and families living below the poverty line, and the working poor. The average tenancy for HHS is over five years and the longest tenancy is over 25 years.

HHS specializes in affordable housing within the City of Calgary. It is primarily responsible for the acquisition and property management of its buildings, while collaborating with other community organizations that refer tenants or provide the necessary services and or support they require. Today, Horizon Housing Society owns and manages 15 different residences (seven multifamily buildings and eight supported homes) in Calgary that provide a safe home to over 700 individuals. HHS promotes a mixed-use concept for its apartments, which helps reduce the stigma attached to a particular group. This model promotes community integration and acceptance while enhancing the quality of life for its tenants.

Financial Review:

Administrative costs were 6% of total revenues and fundraising costs were 52% of donations; however, donations account for only 11% of total F2015 revenue, with almost all of its revenue derived from rental and government programs. The funding reserves are negative, due to total debt of $7.3m. Excluding this debt, reserves would be $5m and cover annual program costs 2.1 times.

This charity report is an update that is being reviewed by HHS. Changes and edits may be forthcoming.

Updated on August 27, 2015 by Rohan Bhargava