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Nonprofiteer
← IRVINE CAMPUS HOUSING AUTHORITY

Form 990 for tax year 2023

Filed by IRVINE CAMPUS HOUSING AUTHORITY.

Totals

Total revenue
$17,486,035
Total expenses
$15,441,246
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,587,887
Investment income
$898,148
Other revenue
$0
Total assets, end of year
$118,532,066
Total liabilities, end of year
$70,592,585
Net assets or fund balances, end of year
$47,939,481
Program services expenses (Part IX)
$14,644,193
Management and general expenses
$797,053
Fundraising expenses
$0
Program service expenses (Part III)
$14,644,193

Program services were 94.8% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $11,192,809 · related or exempt $11,192,809

  • 2b · Program service revenue: MAINTENANCE ASSESSMENTS

    total $2,029,030 · related or exempt $2,029,030

  • 2c · Program service revenue: SHARED APPRECIATION INCOME

    total $1,583,792 · related or exempt $1,583,792

  • 2d · Program service revenue: RESIDENT WATER AND SEWER

    total $872,528 · related or exempt $872,528

  • 2e · Program service revenue: GROUND SUBLEASE INTEREST INCOME

    total $824,007 · related or exempt $824,007

  • 2f · All other program service revenue

    total $85,721 · related or exempt $85,721

  • 3 · Investment income

    total $898,148 · excluded $898,148

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $676,597 · program services $568,341 · management and general $108,256

  • 7 · Other salaries and wages

    total $2,272,323 · program services $2,200,856 · management and general $71,467

  • 8 · Pension plan contributions

    total $271,846 · program services $264,060 · management and general $7,786

  • 9 · Other employee benefits

    total $806,615 · program services $778,389 · management and general $28,226

  • 10 · Payroll taxes

    total $205,891 · program services $195,475 · management and general $10,416

  • 11b · Fees: legal

    total $46,103 · management and general $46,103

  • 11c · Fees: accounting

    total $105,777 · management and general $105,777

  • 11g · Fees: other

    total $266,432 · program services $251,407 · management and general $15,025

  • 13 · Office expenses

    total $131,167 · program services $118,996 · management and general $12,171

  • 14 · Information technology

    total $101,053 · program services $92,024 · management and general $9,029

  • 16 · Occupancy

    total $44,236 · program services $28,188 · management and general $16,048

  • 20 · Interest

    total $2,688,994 · program services $2,688,994

  • 22 · Depreciation, depletion and amortization

    total $1,747,896 · program services $1,576,837 · management and general $171,059

  • 23 · Insurance

    total $506,182 · program services $453,047 · management and general $53,135

  • 24a · Other expenses: MAINTENANCE OF HOUSING

    total $3,637,902 · program services $3,637,902

  • 24b · Other expenses: COMMON AREA UTILITIES

    total $859,543 · program services $859,543

  • 24c · Other expenses: COST OF RESIDENT WATER

    total $820,496 · program services $820,496

  • 24d · Other expenses: ABANDONMENT OF PROJECT

    total $130,082 · management and general $130,082

  • 24e · All other expenses

    total $122,111 · program services $109,638 · management and general $12,473

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $738,261 · end of year $428,927

  • 2 · Savings and temporary cash investments

    beginning of year $21,155,366 · end of year $19,165,641

  • 4 · Accounts receivable

    beginning of year $181,075 · end of year $184,104

  • 8 · Inventories for sale or use

    beginning of year $1,053,927 · end of year $5,809,915

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

    $80,919,366

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

    $16,476,690

  • 10c · Land, buildings and equipment, net

    beginning of year $66,034,915 · end of year $64,442,676

  • 15 · Other assets

    beginning of year $28,496,012 · end of year $28,500,803

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,009,400 · end of year $1,886,289

  • 19 · Deferred revenue

    beginning of year $96,170 · end of year $76,711

  • 23 · Secured mortgages and notes payable

    beginning of year $32,074,928 · end of year $30,738,557

  • 25 · Other liabilities

    beginning of year $39,003,238 · end of year $37,891,028

  • 27 · Net assets without donor restrictions

    beginning of year $45,475,820 · end of year $47,939,481

Mission and programs · 2023

Mission

THE ORGANIZATION WAS CREATED BY THE REGENTS OF THE UNIVERSITY OF CALIFORNIA FOR THE PURPOSE OF DEVELOPING AND MAINTAINING AFFORDABLE HOUSING TO FACULTY AND STAFF OF THE UNIVERSITY OF CALIFORNIA. THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) AND IS A SECTION 509(A)(3) SUPPORTING ORGANIZATION TO THE UNIVERSITY OF CALIFORNIA.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE FACULTY AND STAFF HOUSING FOR THE UNIVERSITY OF CALIFORNIA.

  • THE IRVINE CAMPUS HOUSING AUTHORITY DEVELOPS AND MAINTAINS AFFORDABLE HOUSING AND RELATED FACILITIES FOR THE EMPLOYEES OF THE UNIVERSITY OF CALIFORNIA.

    Expenses $14,644,193 · Revenue $16,587,887

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

Listed in Part VII

  • Barbara Sarnecka

    BOARD MEMBER

    Total calculated
    $246,705
    From this org
    $0
    From related orgs
    $197,678
    Other
    $49,027
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,122 related
    Bonus
    $0 + $15,556 related
    Other
    $0
    Deferred
    $0 + $22,872 related
    Nontaxable benefits
    $0 + $26,155 related
    Filer's total
    $0 + $246,705 related

  • Jennifer Aaron

    CHAIR OF THE BOARD

    Total calculated
    $291,438
    From this org
    $7,200
    From related orgs
    $219,038
    Other
    $65,200
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $7,200 + $219,038 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $31,886 related
    Nontaxable benefits
    $0 + $33,314 related
    Filer's total
    $7,200 + $284,238 related

  • Yong Chen

    SECRETARY/TREASURER

    Total calculated
    $275,418
    From this org
    $0
    From related orgs
    $204,009
    Other
    $71,409
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $193,676 related
    Bonus
    $0 + $10,333 related
    Other
    $0
    Deferred
    $0 + $43,142 related
    Nontaxable benefits
    $0 + $28,267 related
    Filer's total
    $0 + $275,418 related

  • Samara Larson

    BOARD MEMBER

    Total calculated
    $189,281
    From this org
    $0
    From related orgs
    $152,118
    Other
    $37,163
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $152,118 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,643 related
    Nontaxable benefits
    $0 + $24,520 related
    Filer's total
    $0 + $189,281 related

  • Diane O'Dowd

    BOARD MEMBER

    Total calculated
    $414,745
    From this org
    $0
    From related orgs
    $334,193
    Other
    $80,552
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $334,193 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $47,701 related
    Nontaxable benefits
    $0 + $32,851 related
    Filer's total
    $0 + $414,745 related

  • Heike Rau

    BOARD MEMBER

    Total calculated
    $267,839
    From this org
    $0
    From related orgs
    $232,296
    Other
    $35,543
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $232,296 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,720 related
    Nontaxable benefits
    $0 + $16,823 related
    Filer's total
    $0 + $267,839 related

  • Tyrus Miller

    BOARD MEMBER

    Total calculated
    $366,019
    From this org
    $0
    From related orgs
    $325,273
    Other
    $40,746
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,273 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $25,035 related
    Nontaxable benefits
    $0 + $15,711 related
    Filer's total
    $0 + $366,019 related

  • Suzanne Sandmeyer

    BOARD MEMBER

    Total calculated
    $353,414
    From this org
    $0
    From related orgs
    $295,146
    Other
    $58,268
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $295,146 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,035 related
    Nontaxable benefits
    $0 + $34,233 related
    Filer's total
    $0 + $353,414 related

  • Michelle Thrakulchavee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Nancy Dasilva

    BOARD MEMBER

    Total calculated
    $291,804
    From this org
    $0
    From related orgs
    $258,728
    Other
    $33,076
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $255,938 related
    Bonus
    $0 + $2,790 related
    Other
    $0
    Deferred
    $0 + $28,720 related
    Nontaxable benefits
    $0 + $4,356 related
    Filer's total
    $0 + $291,804 related

  • Victor Van Zandt

    PRESIDENT / CEO

    Total calculated
    $265,501
    From this org
    $202,255
    From related orgs
    $0
    Other
    $63,246
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,255
    Bonus
    $0
    Other
    $0
    Deferred
    $32,659
    Nontaxable benefits
    $30,587
    Filer's total
    $265,501

  • Jennifer Barb

    VP OF FINANCE

    Total calculated
    $196,336
    From this org
    $149,936
    From related orgs
    $0
    Other
    $46,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,936
    Bonus
    $0
    Other
    $0
    Deferred
    $19,364
    Nontaxable benefits
    $27,036
    Filer's total
    $196,336

  • Karlie George

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $171,540
    From this org
    $119,501
    From related orgs
    $0
    Other
    $52,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,501
    Bonus
    $0
    Other
    $0
    Deferred
    $20,122
    Nontaxable benefits
    $31,917
    Filer's total
    $171,540

  • Andrew Herndon

    VP, COMMUNITY DEV.

    Total calculated
    $229,292
    From this org
    $164,392
    From related orgs
    $0
    Other
    $64,900
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,392
    Bonus
    $0
    Other
    $0
    Deferred
    $26,079
    Nontaxable benefits
    $38,821
    Filer's total
    $229,292

  • Elaine Vatakis

    VP, RENTAL HOUSING

    Total calculated
    $185,348
    From this org
    $136,796
    From related orgs
    $0
    Other
    $48,552
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,796
    Bonus
    $0
    Other
    $0
    Deferred
    $22,147
    Nontaxable benefits
    $26,405
    Filer's total
    $185,348

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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
2023
Filed
13 March 2025
IRS schema version
2023v6.0
Source object
202500739349300525

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