INDEPENDENT VERDICT
Transformational Housing Partners LLC is a newly formed Denver housing venture whose public story is more distinctive than its very small first SEC raise suggests. The Delaware LLC filed a new Form D on September 16, 2026 under Rule 506(b), reporting an indefinite equity offering with only $50,000 sold to one investor following a September 15 first sale. The issuer reports no revenues, no fixed fundraising ceiling, no sales commissions and no finder's fees. Daniel Kaskubar is the only related person identified in the filing and is described as "Managing Member of the Managing Member." Outside the Form D, however, a clearer operating thesis emerges: public materials identify Transformational Housing Partners as a Colorado initiative working with churches and other mission-driven property owners to turn unused or underutilized land into genuinely affordable housing, including for-sale homes aimed at first-time buyers. That model places THP at the intersection of real-estate development, faith-community land, impact capital and Colorado's changing housing-policy environment rather than inside the conventional private-fund category.
CHURCH LAND IS THE REAL INVESTMENT STORY
The strongest independent description comes from Denver Institute materials identifying Wes Gardner as a co-founder of Transformational Housing Partners. Those materials state that THP partners with churches to develop unused or underutilized land and combines land-banking concepts with mission-oriented entrepreneurial capital to create affordable for-sale housing for first-time homebuyers. Separate 2026 public commentary from people working with the initiative names Dan Kaskubar, Wes Gardner, Scott Fast, Jessica Dominguez and others in connection with Transformational Housing Partners and efforts to support housing development on land held by churches, congregations and nonprofits. Kaskubar's own current public profile also identifies Transformational Housing Partners as his Denver-area organization. These sources provide substantially stronger operating evidence than the Form D alone, which categorizes the issuer merely as "Other" and does not identify a real-estate subtype.
This structure is economically interesting because land is one of the largest cost components in housing development. A church or nonprofit that already owns underused property can potentially contribute, sell or otherwise make land available on terms that reduce the developer's basis compared with purchasing fully priced market land. That can improve the feasibility of attainable or affordable housing, but the public record does not establish exactly how THP structures those transactions. It is not yet clear whether a church sells land, contributes it to a project entity, grants a long-term ground lease, retains an ownership interest, receives deferred consideration or participates through another structure. Those distinctions determine land basis, lender rights, project returns, tax treatment and what happens if the development fails.
A 2026 COLORADO POLICY CHANGE MAKES THE TIMING ESPECIALLY RELEVANT
THP's launch also coincides with a material change in Colorado housing law. House Bill 26-1001, the Housing Opportunities Made Easier or HOME Act, was enacted in 2026 and creates a framework under which qualifying residential developments on certain nonprofit and public properties can move through an administrative approval process rather than relying on traditional discretionary zoning pathways, subject to statutory conditions and implementation timelines. The law is intended to make underutilized property held by qualifying nonprofits, housing authorities, schools, transit organizations and other eligible owners more usable for residential development. This does not mean every church parcel automatically qualifies, nor does the statute guarantee approval for a THP project, but the law materially changes the regulatory backdrop for exactly the type of mission-driven land strategy publicly associated with Transformational Housing Partners.
The connection needs careful wording because early versions and predecessor policy efforts were often discussed under a broader "Yes in God's Backyard" or faith-land housing concept. The final HOME Act contains specific definitions and eligibility requirements that should not be reduced to "churches can now build housing anywhere." Local infrastructure, safety, environmental, ownership, affordability and statutory qualification requirements still apply. For THP, this means public-policy momentum can improve development feasibility while project-by-project entitlement, infrastructure and financing risks remain. Investors should verify which planned THP properties actually qualify under the enacted law rather than assuming the statewide policy automatically applies to the issuer's entire pipeline.
THE SEC OFFERING IS STILL AT A VERY EARLY STAGE
The September Form D shows how early the capital formation process remains. Transformational Housing Partners reported an indefinite offering amount rather than a fixed fund target, only $50,000 sold and one investor. The offering is intended to continue for more than one year, and the security is equity rather than debt or pooled-investment-fund interests. This distinction is important: the issuer did not identify itself as a private equity fund, real estate fund, REIT or pooled investment vehicle. The public filing therefore looks more like capital raised directly into an operating or holding company than a standard closed-end property fund, although the precise capitalization and subsidiary structure are not disclosed.
The compensation disclosure also deserves attention. Item 16 shows zero dollars only as an estimate and expressly states that persons listed in Item 3 may receive compensation from offering proceeds but that the amount cannot currently be estimated. This is different from a filing that affirmatively states no related-party proceeds will be paid. Investors therefore need the operating agreement and subscription documents to determine whether Kaskubar, the managing member, development entities or related parties receive salaries, acquisition fees, development fees, asset-management fees, construction-management fees, promote interests or other compensation. The Form D reports zero commissions and zero finder's fees, but those fields say nothing about developer-level economics.
WEBSITE AND ENTITY PENETRATION: A MAJOR IDENTITY TRAP
One particularly important research finding is what should NOT be connected to this issuer. Search engines surface `transformationalhousing.org`, and at least one Form D aggregation site currently places that website alongside Transformational Housing Partners LLC. That association appears incorrect. The domain belongs to Transformational Housing in Jefferson City, Missouri, a volunteer-driven Christian ecumenical nonprofit formally organized in 2020 after the 2019 Jefferson City tornado. Its website describes rental properties on Cherry Street, McCarty Street and Jackson Street and lists a Missouri board and Missouri mailing address. None of the organization's disclosed leadership overlaps with Daniel Kaskubar or the Denver THP evidence reviewed here. FilingDossier therefore does not attribute that website, its housing units, donations or project history to Transformational Housing Partners LLC.
The Denver entity instead has a separate evidence chain: SEC address at 700 N Colorado Blvd, Denver; Daniel Kaskubar as related person and signer; Kaskubar's public Transformational Housing Partners role; Wes Gardner's Denver Institute biography calling him a THP co-founder; and 2026 Colorado housing-policy commentary connecting Kaskubar, Gardner and other local housing participants to the initiative. That is enough to establish a meaningful operating identity, but an official corporate website, complete management team, project pipeline and legal organizational chart were not independently identified during this review.
FINAL ASSESSMENT
Transformational Housing Partners is unusual among recent Form D issuers because the important diligence question is not simply "what fund does this manager run" The evidence points instead to a mission-oriented housing development platform attempting to unlock underutilized institutional and faith-community land for affordable or attainable housing. Public materials give that strategy credible external support, and the timing aligns with Colorado's 2026 effort to make certain nonprofit and public land easier to develop for housing. The SEC filing independently verifies the legal issuer, Daniel Kaskubar, Denver address and beginning of a Rule 506(b) capital raise.
At the same time, the investment remains difficult to evaluate from public information because nearly every project-level economic variable is missing. Investors should identify each parcel, landowner, ownership structure, zoning status, affordability covenant, acquisition or ground-lease economics, construction budget, debt package, developer fee, projected sale price, buyer-income restriction and expected investor-return mechanism. The indefinite offering structure and $50,000 first investment demonstrate that fundraising has started, not that THP has completed a meaningful institutional capitalization. The strongest current evidence supports the existence of the Denver initiative and its housing thesis; it does not yet establish a mature project portfolio or a proven financial track record.
KEY FINDINGS Transformational Housing Partners LLC was formed in Delaware in 2025. The issuer filed its first Form D on September 16, 2026. The offering relies on Regulation D Rule 506(b). The security offered is equity. The total offering amount is indefinite. $50,000 had been sold at filing. One investor was reported. The first sale occurred September 15, 2026. The issuer expects the offering to continue for more than one year. Daniel Kaskubar is the only related person disclosed in the Form D. Kaskubar is identified as Managing Member of the Managing Member. The Form D reports no revenues. Sales commissions are reported as zero. Finder's fees are reported as zero. Related-person compensation may be paid from proceeds, but the amount could not be estimated. Public evidence identifies Wes Gardner as a co-founder of Transformational Housing Partners. Public materials describe THP as partnering with churches to develop unused or underutilized land. The stated objective includes affordable for-sale homes for first-time buyers. Colorado enacted the HOME Act in 2026, creating a more favorable development pathway for qualifying housing on certain nonprofit and public properties. The law does not automatically approve every THP or church-land project. No issuer-specific Denver THP website was independently confirmed. transformationalhousing.org is associated with an unrelated Missouri nonprofit and should not be attributed to this issuer.
WEBSITE / ENTITY PENETRATION Legal issuer: Transformational Housing Partners LLC CIK: 0002153515 SEC address: 700 N Colorado Blvd #152, Denver, CO 80206 SEC phone: 720-377-5856 Daniel Kaskubar SEC relationship: Confirmed Daniel Kaskubar / Transformational Housing Partners public relationship: Confirmed Wes Gardner co-founder relationship: Confirmed through Denver Institute materials Church-land housing strategy: Confirmed through independent public materials Affordable homeownership strategy: Confirmed Colorado-focused operating evidence: Confirmed HOME Act policy relevance: Confirmed Official issuer-specific website: Not independently confirmed transformationalhousing.org: Unrelated Missouri organization; exclude Specific development projects: Not publicly established Specific church partners: Not comprehensively disclosed Land parcels under control: Not independently identified Managing member legal entity: Not named in the Form D Investment adviser: Not identified Broker-dealer: None disclosed Auditor: Not identified Administrator: Not identified Construction lender: Not identified Project-level debt: Not identified
CORE INVESTOR QUESTIONS Which properties are currently controlled by Transformational Housing Partners Which churches, nonprofits or institutional landowners are contractual partners Does each landowner sell, contribute or ground-lease its property What is the land basis assigned to each project Does the original landowner retain an economic interest What affordability restrictions apply to completed homes Are homes income-restricted at initial sale only or for future resales How are first-time homebuyer eligibility rules enforced What development and construction fees are paid to THP or affiliates What compensation is paid to Daniel Kaskubar or the managing member What portion of investor capital funds predevelopment versus construction What senior or construction debt will be used Who guarantees construction loans How are cost overruns funded Which projects qualify under the Colorado HOME Act Which projects require conventional rezoning or entitlement Who owns the property if a project does not reach construction What is the investor liquidity mechanism Are returns generated through home sales, land appreciation, developer fees, rental income or another source How are social-impact objectives balanced against investor-return requirements What happens if affordability requirements reduce project margins
CORE RISKS Early-stage operating-company risk Only one investor disclosed at initial filing Indefinite fundraising target Project-pipeline uncertainty Land-control and entitlement risk Construction-cost escalation Interest-rate and construction-financing risk Potential dependence on church or nonprofit counterparties Local zoning and infrastructure requirements Affordable-housing resale or income restrictions Potential tension between affordability goals and investment returns Related-party compensation not yet quantified No publicly established mature track record No independently confirmed issuer website Potential identity confusion with an unrelated Missouri nonprofit
SEC SNAPSHOT Issuer: Transformational Housing Partners LLC CIK: 0002153515 SEC File No.: 021-597603 Film No.: 261381951 Accession: 0002153515-26-000001 Filed: September 16, 2026 Accepted: September 15, 2026 First sale: September 15, 2026 Formation: Delaware, 2025 Business address: 700 N Colorado Blvd #152, Denver, CO 80206 Phone: 720-377-5856 Industry: Other Revenue: No Revenues Security: Equity Exemption: Rule 506(b) Offering amount: Indefinite Amount sold: $50,000 Remaining: Indefinite Investors: 1 Minimum investment reported: $0 Offering expected to exceed one year: Yes Sales commissions: $0 Finder's fees: $0 Related-party use of proceeds: Amount unknown / cannot presently be estimated Related person: Daniel Kaskubar Role: Managing Member of the Managing Member Signer: Daniel Kaskubar
PRIMARY EVIDENCE REVIEWED SEC EDGAR — Transformational Housing Partners LLC Form D SEC EDGAR — Transformational Housing Partners LLC filing index Denver Institute for Faith & Work — Wes Gardner / Transformational Housing Partners description Daniel Kaskubar — public professional profile Public Colorado housing-sector commentary concerning Transformational Housing Partners Colorado General Assembly — HB26-1001 Housing Opportunities Made Easier Act AIA Colorado — 2026 HOME Act legislative update TransformationalHousing.org — reviewed specifically to distinguish the unrelated Jefferson City, Missouri organization
IMPORTANT FORM D NOTICE Form D is a notice of an exempt securities offering. Filing with the SEC does not mean the SEC has approved, endorsed, verified or recommended Transformational Housing Partners LLC, Daniel Kaskubar, Wes Gardner, any housing project, any church or nonprofit partnership, any development model or any projected return. Investors should independently verify property control, zoning, project budgets, financing, affordability restrictions, related-party compensation and the complete capitalization of each development.