Overview
ShofCorp LLC is a service provider specializing in compliance management for HUD multifamily housing programs. The company, located in Lago Vista, Texas, is engaged in over 400 projects across 30 states in collaboration with more than 40 different Performance-Based Contract Administrators (PBCAs).
Company Information
- Website: [www.shofcorp.com](https://www.shofcorp.com/)
- Founded: 1985
- Industry: Information Services, Government, and Non-Profit sectors
- Employees: 6-13
Financial Data
- Revenue Range: $1 Million - $1.6 Million, with some reports showing an alternate figure of $205,000
- Company Size: Small-scale enterprise
Services and Offerings
ShofCorp LLC provides comprehensive tools for compliance management and TRACS data transmission within HUD multifamily housing programs. Their offerings include:
- Compliance Portal: Designed for managing HUD-related tasks and documents, such as the 50059 form.
- Accounting Integration: Collaborations with platforms such as ExactEstate.com and KansoSoftware.com for enhanced accounting processes.
- Monthly Data Transmission: Facilitates precise and timely submission of tenant and billing data to the HUD TRACS system.
- PBCA Reporting Assistance: Supports properties with reporting issues to ensure voucher payments.
- User Interface: Offers a user-friendly portal for seamless data entry and processing.
- Passthru Services: Provides specialized support for property owners needing assistance with compliance software and tenant data management.
Leadership
- CEO: Frank Shofner, founder and key developer of the company's proprietary software, HudMaster™.
- Property Manager: Raimius Foulkes, holds a Bachelor of Arts in Business Administration with a focus on management and accounting.
- Management Role: Mary Wachira is part of the management team contributing to the strategic and operational leadership of the company.
Pricing Structure
ShofCorp offers a tailored pricing model based on unit count per project:
- Above 100 Units: $1.07 per unit/month
- 65 to 100 Units: $107.42 per month flat
- 35 to 64 Units: $1.67 per unit/month
- 15 to 34 Units: $62.37 per month flat
- 6 to 14 Units: $45 per month flat
- 5 and under: $32.34 per month flat
Recent Updates and Compliance
The company is actively updating its systems for the Housing Opportunity Through Modernization Act (HOTMA), with significant software and procedural updates to enhance platform efficiency and regulatory compliance responsiveness.
Competitors
ShofCorp LLC faces competition from companies within the same industrial sectors:
- Prakruti Med Solutions: Involved in accounting and healthcare, providing medical billing services.
- Corbital Technologies LLP: A software development firm focusing on Laravel and Vue JS to enhance business efficiencies.
- WebRevelation: Specializes in custom web application development for small to mid-sized businesses.
- Apex EDI: Offers healthcare claims clearinghouse solutions, primarily serving medical and dental professionals.
Industry Position
ShofCorp LLC distinguishes itself by streamlining complex compliance and administrative tasks in housing and healthcare sectors, leveraging technology applications and robust compliance platforms to provide tailored, sector-specific solutions.
Contact Information
For further inquiries, ShofCorp LLC can be reached through their website [shofcorp.com](https://www.shofcorp.com) or their mailing address at P.O. Box 5888, Lago Vista, TX 78645.
This report provides a detailed overview of ShofCorp LLC's operations, leadership, technology use, financial data, services, industry position, and competitive landscape, offering insights for further business development and strategic planning.
