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Nonprofiteer
← USA HOMEOWNERSHIP FOUNDATION INC

Form 990 for tax year 2023

Filed by USA HOMEOWNERSHIP FOUNDATION INC.

Totals

Total revenue
$5,837,779
Total expenses
$6,821,958
Contributions and grants received
$3,620,074
Grants paid
$468,340
Program service revenue
$2,148,981
Investment income
$0
Other revenue
$68,724
Total assets, end of year
$2,485,990
Total liabilities, end of year
$567,161
Net assets or fund balances, end of year
$1,918,829
Program services expenses (Part IX)
$5,559,939
Management and general expenses
$628,963
Fundraising expenses
$633,056
Program service expenses (Part III)
$5,559,939

Program services were 81.5% 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.

  • 1b · Membership dues

    $126,437

  • 1c · Fundraising events

    $579,113

  • 1f · All other contributions, gifts and grants

    $2,914,524

  • 1g · Noncash contributions included above

    $2,246,130

  • 2a · Program service revenue: Class Fees

    total $17,053 · related or exempt $17,053

  • 2b · Program service revenue: Lending program income

    total $74,106 · related or exempt $74,106

  • 2c · Program service revenue: Referral Fees

    total $3,714 · related or exempt $3,714

  • 2d · Program service revenue: Rental Income

    total $15,920 · related or exempt $15,920

  • 2e · Program service revenue: Sale of Rehab Real Estate

    total $2,035,155 · related or exempt $2,035,155

  • 2f · All other program service revenue

    total $3,033 · related or exempt $3,033

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $485,619

  • 8a · Fundraising events: contributions included on line 1c

    $579,113

  • 8b · Fundraising events: direct expenses

    $416,895

  • 8c · Net income from fundraising events

    total $68,724

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $293,525 · program services $293,525

  • 2 · Grants to domestic individuals

    total $174,815 · program services $174,815

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,116,170 · program services $372,057 · management and general $372,057 · fundraising $372,056

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $150,624 · fundraising $150,624

  • 13 · Office expenses

    total $3,936 · management and general $3,936

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $110,745 · program services $36,915 · management and general $36,915 · fundraising $36,915

  • 17 · Travel

    total $71,062 · program services $23,687 · management and general $23,687 · fundraising $23,688

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $647,527 · program services $487,616 · fundraising $159,911

  • 20 · Interest

    total $13,893 · management and general $13,893

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $5,517 · management and general $3,678 · fundraising $1,839

  • 23 · Insurance

    total $32,019 · program services $10,673 · management and general $21,346

  • 24a · Other expenses: Property rehabilitation

    total $3,583,324 · program services $3,583,324

  • 24b · Other expenses: Event costs

    total $431,417 · program services $212,648 · fundraising $218,769

  • 24c · Other expenses: Contractors

    total $356,590 · program services $276,634 · management and general $57,880 · fundraising $22,076

  • 24d · Other expenses: Memberships and Dues

    total $66,227 · program services $22,076 · management and general $22,076 · fundraising $22,075

  • 24e · All other expenses

    total -$235,433 · program services $65,969 · management and general $73,495 · fundraising -$374,897

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,507,225 · end of year $725,098

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $18,976 · end of year $36,762

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,927 · end of year $5,127

  • 10a · Land, buildings and equipment: cost or other basis

    $52,565

  • 10b · Land, buildings and equipment: accumulated depreciation

    $41,680

  • 10c · Land, buildings and equipment, net

    beginning of year $16,402 · end of year $10,885

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $1,884,881 · end of year $1,708,118

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,622 · end of year $83,086

  • 24 · Unsecured notes and loans payable

    beginning of year $497,781 · end of year $484,075

  • 27 · Net assets without donor restrictions

    beginning of year $2,903,008 · end of year $1,918,829

Mission and programs · 2023

Mission

To improve the lives of service members and veterans through education, housing, and philanthropy.

  • The organization developed and rehabilitated homes and sold at a discounted purchase price to active duty military and veterans. In addition, the organization paid the escrow fees and other expenses during the rehabilitation period.

    Expenses $3,841,978 · Grants $2,246,130 · Revenue $2,051,075

  • Planned and sponsored a policy conference and a national conference, in addition to other events. Through the conferences educational information, awareness and training was provided to real estate professionals, active military and veterans about the resources available to facilitate home ownership, including the VA home loan program.

    Expenses $748,121 · Revenue $3,033

  • The organization rehabilitated 2 properties and donated them mortgage free to a veteran.

    Expenses $314,058

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jose F Labias Ramirez

    IT Director

    Total calculated
    $110,000
    From this org
    $110,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Son Nguyen

    President

    Total calculated
    $100,000
    From this org
    $100,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Carla Lemon

    Secretary

    Total calculated
    $45,000
    From this org
    $45,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Christine Olfus

    Director

    Total calculated
    $5,927
    From this org
    $5,927
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sandy Heath

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Pat Diomede

    Director

    Total calculated
    $0
    Hours/week
    1

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

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.

  • VAREP

    501(C)19 · To reduce veteran homeless · CA

  • Vetcares Inc

    501(C)3 · Support veteran as a result of hardship · CA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MVP Insurance Services Inc

    C Corp · Insurance · CA · 100% owned · share of income -$6,190 · share of assets $10,300 · controlled entity

    Directly controlled by USA Homeownership Fo

  • MVP Title Company Inc

    C Corp · Title and Escrow Services · CA · 100% owned · share of income -$9,065 · share of assets $1,275 · controlled entity

    Directly controlled by USA Homeownership Fo

  • MVP Staffing Services Inc

    C Corp · Staffing · CA · 100% owned · share of income -$2,000 · controlled entity

    Directly controlled by USA Homeownership Fo

  • Win Win Consulting Inc

    S Corp · Service · CA

Provenance

Return type
form_990
Tax year
2023
Filed
11 March 2024
IRS schema version
2023v4.0
Source object
202400719349301615

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