Skip to content
Nonprofiteer
← FOUNDATION FOR AFFORDABLE HOUSING INC

Form 990 for tax year 2023

Filed by FOUNDATION FOR AFFORDABLE HOUSING INC.

Totals

Total revenue
$5,442,678
Total expenses
$8,856,891
Contributions and grants received
$2,318,171
Grants paid
$31,439
Program service revenue
$2,359,426
Investment income
$741,572
Other revenue
$23,509
Total assets, end of year
$105,714,129
Total liabilities, end of year
$93,396,694
Net assets or fund balances, end of year
$12,317,435
Program services expenses (Part IX)
$5,300,980
Management and general expenses
$3,555,911
Fundraising expenses
$0
Program service expenses (Part III)
$5,300,980

Program services were 59.9% 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.

  • 1e · Government grants (contributions)

    $2,318,122

  • 1f · All other contributions, gifts and grants

    $49

  • 2a · Program service revenue: RENTAL INCOME

    total $1,620,090 · related or exempt $1,620,090

  • 2b · Program service revenue: OTHER INCOME

    total $1,493,149 · related or exempt $1,493,149

  • 2c · Program service revenue: PARTNERSHIP MANAGEMENT

    total $327,740 · related or exempt $327,740

  • 2d · Program service revenue: PARTNERSHIP INCOME/LOS

    total -$1,081,553 · related or exempt -$1,081,553

  • 3 · Investment income

    total $419,957 · excluded $419,957

  • 6a · Gross rents

    real property $23,509

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $23,509

  • 6d · Net rental income or loss

    total $23,509 · related or exempt $23,509

  • 7a · Gross sales of assets other than inventory

    other assets $335,238

  • 7b · Less cost or other basis and sales expenses

    other assets $13,623

  • 7c · Gain or loss

    other assets $321,615

  • 7d · Net gain or loss

    total $321,615 · related or exempt $321,615

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $31,439 · program services $31,439

  • 5 · Compensation of officers, directors and key employees

    total $247,393 · program services $247,393

  • 7 · Other salaries and wages

    total $403,967 · management and general $403,967

  • 8 · Pension plan contributions

    total -$5,915 · management and general -$5,915

  • 9 · Other employee benefits

    total $113,664 · management and general $113,664

  • 10 · Payroll taxes

    total $57,019 · management and general $57,019

  • 11b · Fees: legal

    total $83,058 · management and general $83,058

  • 11c · Fees: accounting

    total $61,802 · management and general $61,802

  • 11g · Fees: other

    total $509,148 · management and general $509,148

  • 12 · Advertising and promotion

    total $21,095 · management and general $21,095

  • 13 · Office expenses

    total $107,334 · management and general $107,334

  • 16 · Occupancy

    total $2,230,938 · program services $2,230,938

  • 17 · Travel

    total $56,080 · management and general $56,080

  • 20 · Interest

    total $1,870,961 · program services $1,870,961

  • 22 · Depreciation, depletion and amortization

    total $1,082,730 · program services $920,249 · management and general $162,481

  • 23 · Insurance

    total $589,064 · management and general $589,064

  • 24a · Other expenses: GENERAL AND ADMIN

    total $1,390,628 · management and general $1,390,628

  • 24b · Other expenses: WORKER COMPENSATION

    total $4,959 · management and general $4,959

  • 24c · Other expenses: MISC. TAXES, LICENSES,

    total $1,016 · management and general $1,016

  • 24d · Other expenses: PAYROLL PROCESSING FEE

    total $511 · management and general $511

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,531,958 · end of year $1,694,690

  • 2 · Savings and temporary cash investments

    beginning of year $7,969,254 · end of year $24,186,654

  • 4 · Accounts receivable

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $10,699,627 · end of year $10,195,187

  • 9 · Prepaid expenses and deferred charges

    end of year $0

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

    $76,521,056

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

    $2,226,677

  • 10c · Land, buildings and equipment, net

    beginning of year $18,762,686 · end of year $74,294,379

  • 13 · Investments: program-related

    beginning of year -$6,033,942 · end of year -$8,486,614

  • 14 · Intangible assets

    beginning of year $1,544,730 · end of year $2,254,540

  • 15 · Other assets

    beginning of year $1,489,390 · end of year $1,575,293

  • 17 · Accounts payable and accrued expenses

    end of year $0

  • 19 · Deferred revenue

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $20,653,008 · end of year $93,165,851

  • 25 · Other liabilities

    beginning of year $95,111 · end of year $230,843

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,215,584 · end of year $12,317,435

Mission and programs · 2023

Mission

OUR PURPOSE IS TO CREATE SAFE, COMFORTABLE, HIGH-QUALITY HOMES THAT UPLIFT THE LIVES OF OUR RESIDENTS AND ENHANCE THE SURROUNDING NEIGHBORHOODS. WE FOCUS ON THE FINANCIAL AND ENVIRONMENTAL SUSTAINABILITY OF EACH OF OUR RESIDENTIAL COMMUNITIES, ALLOWING US TO BUILD COMFORTABLE, AFFORDABLE HOMES FOR THOSE WHO NEED THEM MOST.

Activities or mission (Part I)

TO CREATE SAFE, COMFORTABLE, HIGH-QUALITY, AFFORDABLE HOMES FOR VERY-LOW INCOME SENIOR CITIZENS.

  • HOUSING - PROVIDED 1,571 UNITS OF SAFE AND AFFORDABLE HOUSING FOR LOW INCOME SENIOR CITIZENS.

    Expenses $5,300,980 · Grants $31,439 · Revenue $2,704,550

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

Listed in Part VII

  • Darrin Willard

    PRESIDENT

    Total calculated
    $903,377
    From this org
    $280,989
    From related orgs
    $547,324
    Other
    $75,064
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $267,292 + $447,931 related
    Bonus
    $0 + $84,777 related
    Other
    $13,697 + $14,616 related
    Deferred
    $0 + $43,500 related
    Nontaxable benefits
    $0 + $31,564 related
    Filer's total
    $280,989 + $622,388 related

  • Thomas Willard

    DIRECTOR

    Total calculated
    $444,378
    From this org
    $0
    From related orgs
    $370,686
    Other
    $73,692
    Hours/week
    4 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $370,324 related
    Bonus
    $0
    Other
    $0 + $362 related
    Deferred
    $0 + $43,500 related
    Nontaxable benefits
    $0 + $30,192 related
    Filer's total
    $0 + $444,378 related

  • Shige Itoh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Mike Ristow

    DIRECTOR

    Total calculated
    $26,400
    From this org
    $0
    From related orgs
    $26,400
    Other
    $0
    Hours/week
    1 + 1 related

  • Michael Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Tim Hose

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Tarun Chandran

    VICE PRESIDENT AND SECRETARY (NOT A DIRECTOR)

    Total calculated
    $660,918
    From this org
    $0
    From related orgs
    $607,540
    Other
    $53,378
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $604,892 related
    Bonus
    $0
    Other
    $0 + $2,648 related
    Deferred
    $0 + $21,998 related
    Nontaxable benefits
    $0 + $31,380 related
    Filer's total
    $0 + $660,918 related

  • Melissa Vincent

    VICE PRESIDENT AND TREASURER (NOT A DIRECTOR)

    Total calculated
    $462,110
    From this org
    $0
    From related orgs
    $411,931
    Other
    $50,179
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $389,597 related
    Bonus
    $0 + $19,892 related
    Other
    $0 + $2,442 related
    Deferred
    $0 + $18,087 related
    Nontaxable benefits
    $0 + $32,092 related
    Filer's total
    $0 + $462,110 related

  • Mei Luu

    VICE PRESIDENT AND ASSISTANT SECRETARY (NOT A DIRE

    Total calculated
    $252,253
    From this org
    $0
    From related orgs
    $211,237
    Other
    $41,016
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,110 related
    Bonus
    $0
    Other
    $0 + $127 related
    Deferred
    $0 + $10,506 related
    Nontaxable benefits
    $0 + $30,510 related
    Filer's total
    $0 + $252,253 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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.

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.

  • FFAH - BELLFLOWER FM LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH 4252 CRENSHAW LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · GA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH BRIDLEWOOD VILLAGE LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · GA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH CARVER GARDENS MEMBER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · FL

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH CARVER GARDENS LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · FL

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH CITRUS GROVE MEMBER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · NC

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH CITRUS GROVE LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · FL

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH CURTIS JOHNSON LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH EAST WINDS MEMBER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · FL

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH EAST WINDS LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · NC

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH MORH LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH MP MEMBER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · SC

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH NC 9 LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · NC

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH NORTHGATE TERRACE LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH OAK CENTER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH PARK SUNSET LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH PV MEMBER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · SC

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH SHERMAN FORBES LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · MN

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH TOLEDO LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · OH

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH VINTAGE WOODS LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH WDNW LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • THE FOUNDATION FAMILY OF NONPROFITS LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · CA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH BRITTANY BAY I LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · FL

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH BRITTANY BAY II LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · FL

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH MILL CREEK FL LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · MO

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

  • FFAH LAFAYETTE APARTMENTS LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · VA

    Directly controlled by FOUNDATION FOR AFFORDABLE HOUSING INC

Related partnerships

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

  • BELLFLOWER FM COMMUNITY PARTNERS LP

    INVESTMENT · RESIDENTIAL RENTAL · CA · 0.01% owned · share of income -$54 · share of assets $163,810 · general or managing partner

  • CURTIS JOHNSON COMMUNITY PARTNERS LP

    INVESTMENT · RESIDENTIAL RENTAL · CA · 0% owned · share of income -$5 · share of assets $40,218 · general or managing partner

  • FFAH PLAZA 1 LLC

    INVESTMENT · RESIDENTIAL RENTAL · CA · 40% owned · share of income -$63,836 · share of assets $2,943,377

  • FFAH PLAZA 2 LLC

    INVESTMENT · RESIDENTIAL RENTAL · CA · 40% owned · share of income -$39,870 · share of assets $1,544,872

  • FFAH RIVERVIEW BEND LLC

    INVESTMENT · RESIDENTIAL RENTAL · CA · 40% owned · share of income $27,398 · share of assets $1,868,533

  • HOOVER HOUSING PARTNERS LIMITED PARTNERSHIP

    INVESTMENT · RESIDENTIAL RENTAL · DE · 99% owned · share of income $11,043 · share of assets $5,170,311 · general or managing partner

  • MORH COMMUNITY PARTNERS LP

    INVESTMENT · RESIDENTIAL RENTAL · CA · 0.01% owned · share of income -$49 · share of assets $78,424 · general or managing partner

  • NORTHGATE TERRACE COMMUNITY PARTNERS LP

    INVESTMENT · RESIDENTIAL RENTAL · CA · 0.01% owned · share of income -$34 · share of assets $157,729 · general or managing partner

  • OAK CENTER COMMUNITY PARTNERS LP

    INVESTMENT · RESIDENTIAL RENTAL · CA · 0.01% owned · share of income -$5 · share of assets $43,391 · general or managing partner

  • OBETZ LIHTC LP

    INVESTMENT · RESIDENTIAL RENTAL · OH · 0% owned · general or managing partner

  • PARK SUNSET COMMUNITY PARTNERS LP

    INVESTMENT · RESIDENTIAL RENTAL · CA · 0.01% owned · general or managing partner

  • SHERMAN FORBES PRESERVATION LLC

    INVESTMENT · RESIDENTIAL RENTAL · WA · 51% owned

  • SUBSIDIZED HOUSING MISSOURI ADVISORS LLC

    INVESTMENT · RESIDENTIAL RENTAL · MO · 40% owned · general or managing partner

  • TOLEDO LIHTC LP

    INVESTMENT · RESIDENTIAL RENTAL · OH · 0% owned · general or managing partner

  • VINTAGE WOODS APARTMENTS LP

    INVESTMENT · RESIDENTIAL RENTAL · CA · 0.01% owned · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413189349308916

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.