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Nonprofiteer
← RHF FOUNDATION

Form 990 for tax year 2022

Filed by RHF FOUNDATION.

Totals

Total revenue
$62,430,584
Total expenses
$21,548,238
Contributions and grants received
$38,968,471
Grants paid
$16,931,812
Program service revenue
$6,386,867
Investment income
$17,075,246
Other revenue
$0
Total assets, end of year
$308,052,827
Total liabilities, end of year
$81,152,837
Net assets or fund balances, end of year
$226,899,990
Program services expenses (Part IX)
$18,352,064
Management and general expenses
$3,196,174
Fundraising expenses
$0
Program service expenses (Part III)
$18,352,064

Program services were 85.2% 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.

  • 1d · Related organizations

    $38,968,161

  • 1f · All other contributions, gifts and grants

    $310

  • 2a · Program service revenue: RENTAL INCOME

    total $3,473,298 · related or exempt $3,473,298

  • 2b · Program service revenue: DEVELOPER FEE INCOME

    total $2,913,569 · related or exempt $2,913,569

  • 3 · Investment income

    total $17,075,246 · related or exempt $929,330 · excluded $16,145,916

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,931,812 · program services $16,931,812

  • 7 · Other salaries and wages

    total $684,136 · program services $684,136

  • 8 · Pension plan contributions

    total $16,759 · program services $16,759

  • 9 · Other employee benefits

    total $64,502 · program services $64,502

  • 10 · Payroll taxes

    total $58,031 · program services $58,031

  • 12 · Advertising and promotion

    total $16,589 · program services $16,589

  • 13 · Office expenses

    total $8,928 · program services $8,928

  • 17 · Travel

    total $44,998 · program services $44,998

  • 19 · Conferences, conventions and meetings

    total $747 · program services $747

  • 20 · Interest

    total $474,260 · program services $474,260

  • 24a · Other expenses: RENT EXPENSE

    total $2,289,832 · management and general $2,289,832

  • 24b · Other expenses: BAD DEBTS

    total $578,249 · management and general $578,249

  • 24c · Other expenses: AMORTIZATION

    total $263,168 · management and general $263,168

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $64,925 · management and general $64,925

  • 24e · All other expenses

    total $51,302 · program services $51,302

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $1

  • 2 · Savings and temporary cash investments

    beginning of year $4,443,070 · end of year $12,123,427

  • 4 · Accounts receivable

    beginning of year $4,607,494 · end of year $7,248,414

  • 7 · Other notes and loans receivable

    beginning of year $121,646,850 · end of year $193,661,307

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

    $347,159

  • 10c · Land, buildings and equipment, net

    beginning of year $347,159 · end of year $347,159

  • 11 · Investments: publicly traded securities

    beginning of year $46,199,745 · end of year $79,004,003

  • 12 · Investments: other securities

    beginning of year $2,091,351 · end of year $2,091,351

  • 13 · Investments: program-related

    beginning of year $24,850,981 · end of year $13,577,165

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,115,854 · end of year $5,524,825

  • 23 · Secured mortgages and notes payable

    beginning of year $6,557,755 · end of year $6,507,075

  • 25 · Other liabilities

    beginning of year $7,818,094 · end of year $69,120,937

  • 27 · Net assets without donor restrictions

    beginning of year $108,621,541 · end of year $150,826,584

  • 28 · Net assets with donor restrictions

    beginning of year $76,073,406 · end of year $76,073,406

Mission and programs · 2022

Mission

TO PROVIDE LOW AND VERY LOW INCOME HOUSING DEVELOPMENT AND RESIDENT BENEVOLENT CARE.

  • RHF FOUNDATION, INC., WAS ESTABLISHED TO HOLD CERTAIN TRUST FUNDS ON BEHALF OF RETIREMENT HOUSING FOUNDATION, A CALIFORNIA NONPROFIT CORPORATION. THE TRUST FUNDS WERE AVAILABLE TO PROVIDE DEVELOPMENT AND/OR EQUITY FUNDS FOR NEW PROJECTS BEING DEVELOPED TO PROVIDE SHELTER AND/OR SERVICES FOR VERY LOW, LOW, AND MODERATE INCOME SENIORS; VERY LOW AND LOW INCOME FAMILIES; AND FOR VERY LOW AND LOW INCOME PERSONS WITH DISABILITIES.

    Expenses $18,352,064 · Grants $16,931,812 · Revenue $7,316,197

As filed on the 2022 return.

Listed in Part VII

  • Hartman Stuart J

    PRESIDENT/CEO

    Total calculated
    $682,064
    From this org
    $0
    From related orgs
    $608,035
    Other
    $74,029
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $599,635 related
    Bonus
    $0
    Other
    $0 + $8,400 related
    Deferred
    $0 + $38,460 related
    Nontaxable benefits
    $0 + $35,569 related
    Filer's total
    $0 + $682,064 related

  • Amberg Robert R

    EXECUTIVE VP GEN COUNSEL

    Total calculated
    $485,377
    From this org
    $0
    From related orgs
    $442,308
    Other
    $43,069
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $436,308 related
    Bonus
    $0
    Other
    $0 + $6,000 related
    Deferred
    $0 + $30,998 related
    Nontaxable benefits
    $0 + $12,071 related
    Filer's total
    $0 + $485,377 related

  • Rossello Frank Jr

    CFO AND VP OF FINANCE

    Total calculated
    $331,101
    From this org
    $0
    From related orgs
    $313,582
    Other
    $17,519
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $310,582 related
    Bonus
    $0
    Other
    $0 + $3,000 related
    Deferred
    $0 + $5,448 related
    Nontaxable benefits
    $0 + $12,071 related
    Filer's total
    $0 + $331,101 related

  • Magnone Vincent B

    VP TREASURY & INVSTMT OFF

    Total calculated
    $268,384
    From this org
    $0
    From related orgs
    $239,282
    Other
    $29,102
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $236,882 related
    Bonus
    $0
    Other
    $0 + $2,400 related
    Deferred
    $0 + $3,916 related
    Nontaxable benefits
    $0 + $25,186 related
    Filer's total
    $0 + $268,384 related

  • Titus Stephanie L

    VP PHILANTHROPY/CSO

    Total calculated
    $273,614
    From this org
    $0
    From related orgs
    $231,220
    Other
    $42,394
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,220 related
    Bonus
    $0
    Other
    $0 + $3,000 related
    Deferred
    $0 + $6,709 related
    Nontaxable benefits
    $0 + $35,685 related
    Filer's total
    $0 + $273,614 related

  • Gilchrist Kevin D

    VP DEVELOPMENT FINANCE

    Total calculated
    $235,587
    From this org
    $0
    From related orgs
    $218,679
    Other
    $16,908
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,479 related
    Bonus
    $0
    Other
    $0 + $4,200 related
    Deferred
    $0 + $6,339 related
    Nontaxable benefits
    $0 + $10,569 related
    Filer's total
    $0 + $235,587 related

  • Fard Bobby J

    VP ACQUIS AND PROJ DEV

    Total calculated
    $230,273
    From this org
    $0
    From related orgs
    $214,343
    Other
    $15,930
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $209,793 related
    Bonus
    $0
    Other
    $0 + $4,550 related
    Deferred
    $0 + $6,078 related
    Nontaxable benefits
    $0 + $9,852 related
    Filer's total
    $0 + $230,273 related

  • Fox Buchan Laura L

    DIRECTOR AND CORPORATE SECRETARY

    Total calculated
    $160,349
    From this org
    $0
    From related orgs
    $150,563
    Other
    $9,786
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $150,563 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,714 related
    Nontaxable benefits
    $0 + $6,072 related
    Filer's total
    $0 + $160,349 related

  • Desaegher Norma N

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 5 related

  • East Raymond E

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 5 related

  • Little Lori

    DIRECTOR AND VP

    Total calculated
    $0
    Hours/week
    0.2 + 5 related

  • Readinger Michael

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 5 related

  • Potter Christina E

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 5 related

  • Hart Donald G

    DIRECTOR AND VP

    Total calculated
    $0
    Hours/week
    0.2

  • Koide Brian M

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 5 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. 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

None.

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

The filer's explanations (Part III)

PART I, LINE 3:
A RELATED ORGANIZATION COMPENSATES THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR AND USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, APPROVAL BY THE COMPENSATION COMMITTEE AND BOARD.
SCHEDULE J, PART II:
DIRECTORS AND OFFICERS ARE MEMBERS OF RETIREMENT HOUSING FOUNDATION WHICH IS A RELATED ORGANIZATION THAT SPONSORS AND MANAGES APPROXIMATELY 190 TAX EXEMPT ORGANIZATIONS AND PARTNERSHIPS THAT PROVIDE AFFORDABLE AND MARKET-RATE HOUSING, SKILLED NURSING AND ASSISTED LIVING SERVICES FOR SENIOR ADULTS, LOW INCOME FAMILIES AND PERSONS WITH DISABILITIES THROUGHOUT THE UNITED STATES.

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

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CULVER CITY HOUSING LLC

    LOW INCOME HOUSING · CA

  • ST JAMES PARK RHF HOUSING LLC

    LOW INCOME HOUSING · CA

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 10 TEMPLE PLACE LTD PTR

    LOW INCOME HOUSING · MA

  • 1310 RIO VISTA RHF HOUSING LLC

    LOW INCOME HOUSING · CA

  • 3555 WHITTIER PARTNERS LP

    LOW INCOME HOUSING · CA

  • 333 MASSACHUSETTS AVENUE LTD PTR

    LOW INCOME HOUSING · MA

  • 334 MASSACHUSETTS AVENUE LTD PTR

    LOW INCOME HOUSING · MA

  • AMISTAD PLAZA PARTNERS LTD PRT

    LOW INCOME HOUSING · CA

  • BROADWOOD TERRACE RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • CAPITOL TOWERS RHF PARTNERS LP

    LOW INCOME HOUSING · CT

  • CLOISTERS RHF HOUSING LLC

    LOW INCOME HOUSING · FL

  • COLLEGE VILLAS LP

    LOW INCOME HOUSING · NV

  • CONGREGATIONAL TOWER PARTNERS LP

    LOW INCOME HOUSING · CA

  • CONGREGATIONAL TOWER LLC

    LOW INCOME HOUSING · CA

  • DARSON MARIE RHF HOUSING PARTNERS LP

    LOW INCOME HOUSING · TX

  • ESPERANZA APARTMENTS LTD PRT

    LOW INCOME HOUSING · WA

  • ESSEX VILLAGE RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • GRAND VIEW RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • HILL RHF HOUSING PARTNERS LP

    LOW INCOME HOUSING · CA

  • HILL RHF HOUSING LLC

    LOW INCOME HOUSING · CA

  • HOLLYVIEW LIMITED PARTNERSHIP

    LOW INCOME HOUSING · CA

  • HOUSING CORP FUND ASSOC

    LOW INCOME HOUSING · CA

  • KINGS GRANT RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • LA FAMILY HOUSING CO

    LOW INCOME HOUSING · CA

  • LAS ALTURAS RHF HOUSING PARTNERS LP

    LOW INCOME HOUSING · CA

  • LAS ALTURAS RHF HOUSING LLC

    LOW INCOME HOUSING · CA

  • LOS ARCOS LIMITED PARTNERSHIP

    LOW INCOME HOUSING · CA

  • MADISON RHF PARTNERS LIMITED PARTNERSHIP

    LOW INCOME HOUSING · CA

  • MASON RHF LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • MESA RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • OLIVE RHF HOUSING PARTNERS LP

    LOW INCOME HOUSING · CA

  • OLIVE RHF HOUSING LLC

    LOW INCOME HOUSING · CA

  • PALOMA TERRACE RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • PALOMA RHF HOUSING LLC

    LOW INCOME HOUSING · CA

  • PIONEER TOWERS RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • PIONEER TOWERS RHF HOUSING LLC

    LOW INCOME HOUSING · CA

  • RIO VISTA VILLAGE LTD PRT

    LOW INCOME HOUSING · CA

  • RIVERSIDE VILLAGE RHF LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • SAGETREE RHF HOUSING PARTNERS LP

    LOW INCOME HOUSING · TX

  • SAN JACINTO MANOR ASSOCIATES LP

    LOW INCOME HOUSING · CA

  • SANGNOK PARTNERS LP

    LOW INCOME HOUSING · CA

  • SEABURY RHF LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA

  • SHEPHERD PARK RHF PARTNERS LP

    LOW INCOME HOUSING · CT

  • SONATA AT RIVERPARK PARTNERS LP

    LOW INCOME HOUSING · CA

  • SOUTHEPOINTE VILLA LTD PTR

    LOW INCOME HOUSING · CA

  • THE CARLIN LTD PRT

    LOW INCOME HOUSING · VA

  • VILLA RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • VISTAS RHF PARTNERS LP

    LOW INCOME HOUSING · CA

  • WEST VALLEY RHF PARTNERS LP

    LOW INCOME HOUSING · CA

Related corporations and trusts

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

  • CAPITOL TOWERS RHF HOUSING INC

    C · SPONSOR ORGANIZATION · CT

  • CARLIN RHF HOUSING INC

    C · SPONSOR ORGANIZATION · VA

  • CHARLES STREET RHF HOUSING INC

    C · SPONSOR ORGANIZATION · MA

  • COLLEGE VILLAS RHF HOUSING INC

    C · SPONSOR ORGANIZATION · NV

  • CONGREGATIONAL TOWER LLC

    C · SPONSOR ORGANIZATION · CA

  • CONGREGATIONAL TOWER RHF HOUSING INC

    C · SPONSOR ORGANIZATION · CA

  • FOUNDATION FINANCIAL SERVICES INC

    C · SPONSOR ORGANIZATION · CA

  • HAMILTON RHF HOUSING INC

    C · SPONSOR ORGANIZATION · MA

  • MASON PLACE RHF HOUSING INC

    C · SPONSOR ORGANIZATION · MA

  • PIONEER TOWERS RHF HOUSING LLC

    C · SPONSOR ORGANIZATION · CA

  • RETIREMENT ENTERPRISES INC

    C · SPONSOR ORGANIZATION · CA

  • RIVERSIDE RHF HOUSING INC

    C · SPONSOR ORGANIZATION · MA

  • SEABURY HEIGHTS RHF HOUSING INC

    C · SPONSOR ORGANIZATION · MA

  • SHEPHERD PARK RHF HOUSING INC

    C · SPONSOR ORGANIZATION · CT

  • SYMPHONY EAST RHF HOUSING INC

    C · SPONSOR ORGANIZATION · MA

  • SYMPHONY WEST RHF HOUSING INC

    C · SPONSOR ORGANIZATION · MA

  • UNITED CONGREGATE CARE INC

    C · SPONSOR ORGANIZATION · CA

  • VISTAS RHF HOUSING LLC

    C · SPONSOR ORGANIZATION · CA

  • WEST VALLEY RHF HOUSING LLC

    C · SPONSOR ORGANIZATION · CA

  • 3555 WHITTIER RHF HOUSING LLC

    C · SPONSOR ORGANIZATION · CA

  • ESSEX VILLAGE RHF HOUSING INC

    C · SPONSOR ORGANIZATION · RI

  • KINGS GRANT RHF HOUSING INC

    C · SPONSOR ORGANIZATION · RI

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2024
IRS schema version
2022v5.0
Source object
202411239349301916

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