Form 990 for tax year 2024
Filed by INNOVATIVE HOUSING OPPORTUNITIES INC.
Totals
- Total revenue
- $12,283,368
- Total expenses
- $3,688,370
- Contributions and grants received
- $425,740
- Grants paid
- $0
- Program service revenue
- $1,998,067
- Investment income
- $116,160
- Other revenue
- $9,743,401
- Total assets, end of year
- $16,568,601
- Total liabilities, end of year
- $2,556,110
- Net assets or fund balances, end of year
- $14,012,491
- Program services expenses (Part IX)
- $2,768,224
- Management and general expenses
- $920,146
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,768,224
Program services were 75.1% 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
$425,740
-
2a · Program service revenue: DEVELOPER FEES
total $972,527 · related or exempt $972,527
-
2b · Program service revenue: PARTNERSHIP INVESTMENT
total $731,567 · related or exempt $731,567
-
2c · Program service revenue: PARTNERSHIP MANAGEMENT
total $118,099 · related or exempt $118,099
-
2d · Program service revenue: PROJECT INTEREST INCOME
total $166,960 · related or exempt $166,960
-
2e · Program service revenue: RENTAL INCOME
total $8,914 · related or exempt $8,914
-
3 · Investment income
total $116,160 · excluded $116,160
-
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
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: OTHER REVENUE
total $18,504 · related or exempt $18,504
-
11b · Other revenue: SALE OF STATE TAX CREDITS
total $9,724,897 · related or exempt $9,724,897
-
11e · Other revenue, total
$9,743,401
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
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 $415,158 · program services $343,922 · management and general $71,236
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $945,507 · program services $783,270 · management and general $162,237
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $113,097 · program services $93,691 · management and general $19,406
-
10 · Payroll taxes
total $103,585 · program services $85,811 · management and general $17,774
-
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 $666,427 · program services $391,636 · management and general $274,791
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $22,580 · management and general $22,580
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $140,600 · management and general $140,600
-
17 · Travel
total $112,956 · program services $102,403 · management and general $10,553
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $32,939 · program services $32,939
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $27,868 · management and general $27,868
-
23 · Insurance
total $0
-
24a · Other expenses: LOSS ON SALE OF VIENTOS
total $865,075 · program services $865,075
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $85,920 · management and general $85,920
-
24c · Other expenses: TAXES & INSURANCE
total $69,150 · management and general $69,150
-
24d · Other expenses: RESIDENT SERVICES
total $55,515 · program services $55,515
-
24e · All other expenses
total $31,993 · program services $13,962 · management and general $18,031
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $648,679 · end of year $154,036
-
2 · Savings and temporary cash investments
beginning of year $3,325,438 · end of year $3,269,649
-
3 · Pledges and grants receivable
beginning of year $245,072 · end of year $0
-
4 · Accounts receivable
beginning of year $1,815,011 · end of year $1,733,308
-
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
beginning of year $8,724,166 · end of year $10,522,115
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $33,240 · end of year $21,992
-
10a · Land, buildings and equipment: cost or other basis
$234,209
-
10b · Land, buildings and equipment: accumulated depreciation
$178,433
-
10c · Land, buildings and equipment, net
beginning of year $1,875,157 · end of year $55,776
-
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 $849,219 · end of year $811,725
-
17 · Accounts payable and accrued expenses
beginning of year $955,056 · end of year $355,639
-
19 · Deferred revenue
beginning of year $1,674 · end of year $63,765
-
23 · Secured mortgages and notes payable
beginning of year $1,640,077 · end of year $2,000,000
-
25 · Other liabilities
beginning of year $284,884 · end of year $136,706
-
27 · Net assets without donor restrictions
beginning of year $14,490,170 · end of year $4,286,981
-
28 · Net assets with donor restrictions
beginning of year $144,121 · end of year $9,725,510
Mission and programs · 2024
Mission
IHO ENRICHES LIVES, STRENGTHENS COMMUNITIES, AND ADVANCE SOCIAL EQUITY BY PROVIDING HIGH-QUALITY AFFORDABLE HOUSING WITH INTEGRATED SUPPORT SERVICES.
Activities or mission (Part I)
IHO IS AN AWARD-WINNING NONPROFTI DEVELOPER OF AFFORDABLE, PERMANENT RENTAL, MIXED INCOME,AND MIXED-USE HOUSING COMMUNITIES.
-
SINCE 1976, INNOVATIVE HOUSING OPPORTUNITIES (IHO) HAS DEVELOPED AND ADVOCATED FOR HIGH-QUALITY, PERMANENT RENTAL HOMES FOR LOW TO MODERATE-INCOME RESIDENTS IN CALIFORNIA. OUR PORTFOLIO INCLUDES AFFORDABLE, MIXED-INCOME, MIXED-POPULATION, AND MIXED-USE HOUSING COMMUNITIES WITH INTEGRATED, HOLISTIC RESIDENT SERVICES AND PROGRAMS THAT ENRICH LIVES, ADVANCE SOCIAL EQUITY AND ACCELERATE THE ECONOMIC SELF-RELIANCE OF FAMILIES, SENIORS, AND SPECIAL NEEDS RESIDENTS.
Expenses $2,768,224 · Revenue $1,998,067
As filed on the 2024 return.
Listed in Part VII
-
Rochelle MillsROCHELLE MILLS
President & CEO
- Total calculated
- $239,377
- From this org
- $239,377
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $239,377
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $239,377
-
Ezra BoldsEZRA BOLDS
CFO
- Total calculated
- $175,781
- From this org
- $175,781
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,781
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $175,781
-
Brandon McCallBRANDON MCCALL
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Elizabeth TrombleyELIZABETH TROMBLEY
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Fathia MacauleyFATHIA MACAULEY
Director
- Total calculated
- $0
- Hours/week
- 2
-
Lashanda MazeLASHANDA MAZE
Director
- Total calculated
- $0
- Hours/week
- 2
-
Mary WatsonMARY WATSON
Director
- Total calculated
- $0
- Hours/week
- 2
-
Nancy MorikawaNANCY MORIKAWA
Director
- Total calculated
- $0
- Hours/week
- 2
-
Robert AbbotROBERT ABBOT
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Jason AcostaJASON ACOSTA
Director
- Total calculated
- $0
- Hours/week
- 2
-
Latonya SmithLATONYA SMITH
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jhaila BrownJHAILA BROWN
Director
- Total calculated
- $0
- Hours/week
- 2
-
Manuel MartinezMANUEL MARTINEZ
Director
- Total calculated
- $0
- Hours/week
- 2
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
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.
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.
-
ACACIA STREET APARTMENTS LLC
RENTAL, MULTI-FAMILY · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO NORWALK LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO HARDING STREET LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO THE ASPIRE LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO 87TH LLC AND WESTERN LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO VIENTOS DE ORO LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO ANILLO DE ORO
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO EL VERANO LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO FIRMIN LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO DERIAN LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO PINE LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO WOODBRIDGE
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO PACIFIC LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO LINCOLN BEACH LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO UNIVERSITY LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO MANDELA STATION LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
-
IHO SOUTHSIDE LLC
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA
Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
WOODBRIDGE MANOR PRESERVATION LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.01% owned · share of income $1 · share of assets -$869
Directly controlled by NA
-
NORWALK PRESERVATION LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.001% owned · share of income $85 · share of assets $53
Directly controlled by NA
-
HARDING STREET NEIGHBORS LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.005% owned · share of income -$47 · share of assets $516,396
Directly controlled by NA
-
17275 DERIAN LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.001% owned · share of income -$4 · share of assets -$63
Directly controlled by NA
-
THE ASPIRE LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.004% owned · share of income -$47 · share of assets $753
Directly controlled by NA
-
ANILLO DE ORO LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 100% owned · share of income $13,363 · share of assets $44,051
Directly controlled by NA
-
87TH AND WESTERN LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 48% owned · share of income $1 · share of assets -$763
Directly controlled by NA
-
EL VERANO LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.005% owned · share of income -$27 · share of assets -$292
Directly controlled by NA
-
FIRMIN COURT LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.001% owned · share of income -$11 · share of assets $16,881
Directly controlled by NA
-
PINE AVENUE LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 47.49% owned · share of income $6,646 · share of assets $85,066
Directly controlled by NA
-
PACIFIC AVENUE LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 20% owned
Directly controlled by NA
-
LINCOLN BEACH LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA
Directly controlled by NA
-
SOUTHSIDE LA HOUSING PARTNERS LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.003% owned · share of income -$11 · share of assets -$9
Directly controlled by NA
-
MANDELA STATION AFFORDABLE LP
TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.051% owned
Directly controlled by NA
-
LINCOLN HOUSING PARTNERS LP
RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 0.004% owned · share of income -$26 · share of assets -$256
Directly controlled by NA
-
IHO UNIVERSITY LP
RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 100% owned
Directly controlled by NA
-
VIENTOS DE ORO LP
RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-IN · CA · 100% owned · share of income -$282,930
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 30 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533039349302323
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