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Nonprofiteer
← CAPITAL AFFORDABLE HOUSING FUNDING CORPORATION

Form 990 for tax year 2024

Filed by CAPITAL AFFORDABLE HOUSING FUNDING CORPORATION.

Totals

Total revenue
$76,651
Total expenses
$73,732
Contributions and grants received
$2,033
Grants paid
$0
Program service revenue
$74,421
Investment income
$197
Other revenue
$0
Total assets, end of year
$386,561
Total liabilities, end of year
$113,688
Net assets or fund balances, end of year
$272,873
Program services expenses (Part IX)
$60,371
Management and general expenses
$13,361
Fundraising expenses
$0
Program service expenses (Part III)
$60,371

Program services were 81.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,033

  • 2a · Program service revenue: RECOVERY OF PRIOR YEAR

    total $31,895 · related or exempt $31,895

  • 2b · Program service revenue: CURRENT YEAR RECOVERY

    total $28,624 · related or exempt $28,624

  • 2c · Program service revenue: LOAN INTEREST

    total $13,902 · related or exempt $13,902

  • 3 · Investment income

    total $197 · excluded $197

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $2,000 · management and general $2,000

  • 20 · Interest

    total $3,916 · program services $3,916

  • 24a · Other expenses: CARRYING COSTS OF PROPE

    total $48,804 · program services $48,804

  • 24b · Other expenses: PROFESSIONAL FEES

    total $10,772 · management and general $10,772

  • 24c · Other expenses: CREDIT LOSS EXPENSE

    total $7,651 · program services $7,651

  • 24d · Other expenses: LOAN SERVICING FEES

    total $409 · management and general $409

  • 24e · All other expenses

    total $180 · management and general $180

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $102,444 · end of year $123,211

  • 2 · Savings and temporary cash investments

    beginning of year $104,612 · end of year $67,314

  • 4 · Accounts receivable

    beginning of year $10,155 · end of year $10,095

  • 7 · Other notes and loans receivable

    beginning of year $306,123 · end of year $185,941

  • 17 · Accounts payable and accrued expenses

    beginning of year $63,956 · end of year $32,100

  • 23 · Secured mortgages and notes payable

    beginning of year $189,424 · end of year $81,588

  • 27 · Net assets without donor restrictions

    beginning of year $269,954 · end of year $272,873

Mission and programs · 2024

Mission

TO PROVIDE LOANS TO LOW AND MODERATE INCOME FAMILIES TO ASSIST THEM IN OBTAINING QUALIFIED HOUSING.

  • PROVIDED LOW COST MORTGAGE FINANCING WITH FLEXIBLE UNDERWRITING CRITERIA TARGETED TO LOW AND MODERATE INCOME FAMILIES. OVER AN ELEVEN-YEAR PERIOD ENDING IN 2001, THE CORPORATION PROVIDED $21.2 MILLION IN MORTGAGE LOANS TO FIRST TIME HOMEBUYERS AND DEVELOPERS OF AFFORDABLE RENTAL PROPERTIES. DURING THE YEAR ENDED APRIL 30, 2025, THE PROGRAM SERVED 20 PARTICIPANTS.

    Expenses $60,371 · Revenue $74,421

As filed on the 2024 return.

Listed in Part VII

  • CLAYTON ALLEN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ERIC DAHL

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • KIMBERLY REILLY

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • SUSAN COTNER

    EXECUTIVE DIRECTOR

    Total calculated
    $59,653
    From this org
    $0
    From related orgs
    $56,913
    Other
    $2,740
    Hours/week
    8 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
27 February 2026
IRS schema version
2024v5.5
Source object
202620709349300627

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