Having defined what a prima facie case is, it seems that the Manufactured Housing Institute (MHI) periodically keeps attempting to duck reality and/or they make several similar mistakes time and again.
For the purposes of this evening’s report, fact check and analysis, MHProNews obtained the latest copy of IRS Form 990. It answers some questions according to statements signed under penalties of perjury.
For instance. MHI has stated its mission as stated below. The all caps are in the original.
“Mission
THE MANUFACTURED HOUSING INSTITUTE (MHI) IS THE ONLY NATIONAL TRADE ORGANIZATION REPRESENTING ALL SEGMENTS OF THE FACTORY-BUILT HOUSING INDUSTRY. MHI MEMBERS INCLUDE HOME BUILDERS, RETAILERS, COMMUNITY OPERATORS, LENDERS, SUPPLIERS AND AFFILIATED STATE ORGANIZATIONS. MEMBERS ARE RESPONSIBLE FOR MORE THAN 85 PERCENT OF THE HOMES PRODUCED EACH YEAR.”
That statement is misleading at best and is demonstrably is not accurate. If MHI leaders are limiting themselves only to HUD Code manufactured homes, that statement might be accurate. But since they claim to represent “all segments” of the Factory Built Housing Industry, that statement is not accurate. There are numerous types of factory-built housing that MHI has little or no involvement with. Therefore, when all forms of factory home building are considered – as MHI claims – the their members market share of all ‘factory built’ housing would thus logically not be 85 percent.
That may seem like a minor point. The far more important reveal is further below. But here is why even that claim above matters. MHI has a nonprofit status based upon certain claims that they make to the Internal Revenue Service (IRS). They do so under penalties of perjury. IF MHI and others involved in this purported misinformation are not living up to those claims to federal officials, then they may not merit or still qualify for nonprofit status. Indeed, there can also be criminal charges.
But as noted there are more…and far ‘heavier‘ issues. To see where MHI is spend some of their millions, how much money they have taken in from others (yes, there is more than one meaning to ‘taken in’), and to see who’s neck may be on the chopping block, see tonight’s featured focus.
On a day that saw manufactured home connected equities with mixed results, let’s press ahead toward the focus on insights about MHI from the IRS and what those insights should tell industry investors, professionals, and others..
Quotes That Shed Light – Industry, American, Social, National Issues
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Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus –
Where Business, Politics and Investing Can Meet
Every year, MHI and other nonprofits have certain federal reporting requirements. MHProNews obtained the attached information filed with the Internal Revenue Service (IRS). From that IRS Form 990 that is signed under penalties of perjury are the following pull quotes.
“Form 990, Part III, Line 4a:
PURSUED EQUITABLE INDUSTRY RECOGNITION IN THE ACTIVITIES OF THE LEGISLATIVE AND EXECUTIVE BRANCHES OF THE FEDERAL GOVERNMENT BY ANALYSIS OF FEDERAL LEGISLATION CONTAINING PROVISIONS AFFECTING THE MANUFACTURED HOUSING INDUSTRY, INITIATED FEDERAL LEGISLATION OR ADMINISTRATIVE ACTION TO ADVANCE INDUSTRY INTEREST, AND INTERACTED WITH APPROPRIATE GOVERNMENT OFFICIALS AND RELATED ORGANIZATIONS TO ENHANCE INDUSTRY RECOGNITION AND PROPER CONSIDERATION OF INDUSTRY NEEDS
Form 990, Part III, Line 4a:
PURSUED EQUITABLE INDUSTRY RECOGNITION IN THE ACTIVITIES OF THE LEGISLATIVE AND EXECUTIVE BRANCHES OF THE FEDERAL GOVERNMENT BY ANALYSIS OF FEDERAL LEGISLATION CONTAINING PROVISIONS AFFECTING THE MANUFACTURED HOUSING INDUSTRY, INITIATED FEDERAL LEGISLATION OR ADMINISTRATIVE ACTION TO ADVANCE INDUSTRY INTEREST, AND INTERACTED WITH APPROPRIATE GOVERNMENT OFFICIALS AND RELATED ORGANIZATIONS TO ENHANCE INDUSTRY RECOGNITION AND PROPER CONSIDERATION OF INDUSTRY NEEDS
Form 990, Part III, Line 4c:
ENABLED MHI TO BE A RECOGNIZED SOURCE OF INFORMATION REGARDING THE MANUFACTURED HOUSING INDUSTRY THROUGH ACCUMULATION AND DISTRIBUTION OF INDUSTRY INFORMATION AND STATISTICS TO GOVERNMENT OFFICIALS, THE MEDIA, AND GENERAL PUBLIC ALSO OFFERED PROGRAMS DESIGNED TO INCREASE INDUSTRY SALES NATIONWIDE BY ENCOURAGING POLICIES TO DEVELOP MANUFACTURED HOUSING COMMUNITIES, PARKS, AND PRIVATE LOT PLACEMENTS”
Let’s take that out of all caps and unpack that claim, starting with the last clause: “by encouraging policies to develop manufactured housing communities, parks, and private lot placements.”
There is a prima facie case that the opposite is true. See the reports linked above and others linked further below.
- At a minimum, MHI and their key members have demonstrably taken positions that deterred the increase of manufactured home industry sales.
- Indeed, the year that statement was made was the year that MHI touted their self-proclaimed “momentum” which led them to launch their “new class of manufactured home initiative” that they later branded as “CrossModTM homes. By accident and/or design, about since the start of the CrossModTM homes project, sales have been in decline nationally. Despite numerous reports and fact checks by MHProNews, critiques by their rival trade group MHARR, MHI has stubbornly clung to their ill-advised project that several of their own members have blown the whistle on to MHProNews.
MHI has spent hundreds of thousands of dollars on items that it would be difficult for them to demonstrate how it benefited manufactured housing growth or “increase industry sales nationwide” through what they said would be achieved “by encouraging policies to develop manufactured housing communities, parks, and private lot placements.”
See the linked and related information to learn more.
Related, Recent, and ‘Read-Hot’ Reports
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
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- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- NOTE: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
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Winter 2021…
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our 11th year of publishing, and is starting our 12the year of serving the industry as the runaway most-read trade media.
Sample Kudos over the years…
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Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
