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Nonprofiteer
← TEXAS STATE AFFORDABLE HOUSING CORPORATION

Form 990 for tax year 2023

Filed by TEXAS STATE AFFORDABLE HOUSING CORPORATION.

Totals

Total revenue
$85,160,892
Total expenses
$116,021,894
Contributions and grants received
$463,080
Grants paid
$1,480,973
Program service revenue
$76,210,997
Investment income
$7,140,473
Other revenue
$1,346,342
Total assets, end of year
$490,955,663
Total liabilities, end of year
$162,653,810
Net assets or fund balances, end of year
$328,301,853
Program services expenses (Part IX)
$115,158,842
Management and general expenses
$675,944
Fundraising expenses
$187,108
Program service expenses (Part III)
$115,158,842

Program services were 99.3% 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)

    $82,784

  • 1f · All other contributions, gifts and grants

    $380,296

  • 2a · Program service revenue: SINGLE FAMILY LOAN INCOME AND SER

    total $74,182,915 · related or exempt $74,182,915

  • 2b · Program service revenue: MULTIFAMILY LOAN INCOME AND SERVI

    total $690,543 · related or exempt $690,543

  • 2c · Program service revenue: INTEREST INCOME-MF PROGRAM LOANS

    total $384,146 · related or exempt $384,146

  • 2d · Program service revenue: ASSET OVERSIGHT/COMPLIANCE FEES

    total $362,626 · related or exempt $362,626

  • 2e · Program service revenue: OTHER LOAN SERVICING AND ISSUER F

    total $50,786 · related or exempt $50,786

  • 2f · All other program service revenue

    total $539,981 · related or exempt $539,981

  • 3 · Investment income

    total $1,414,226 · excluded $1,414,226

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

    total $5,549,177 · related or exempt $5,549,177

  • 5 · Royalties

    total $254 · excluded $254

  • 6a · Gross rents

    real property $1,372,116

  • 6b · Less rental expenses

    real property $218,947

  • 6c · Rental income or loss

    real property $1,153,169

  • 6d · Net rental income or loss

    total $1,153,169 · related or exempt $1,153,169

  • 7a · Gross sales of assets other than inventory

    other assets $401,773

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

    other assets $224,703

  • 7c · Gain or loss

    other assets $177,070

  • 7d · Net gain or loss

    total $177,070 · excluded $177,070

  • 11a · Other revenue: INSURANCE CLAIMS

    total $192,919 · related or exempt $192,919

  • 11e · Other revenue, total

    $192,919

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,480,973 · program services $1,480,973

  • 5 · Compensation of officers, directors and key employees

    total $1,158,621 · program services $1,016,343 · management and general $126,984 · fundraising $15,294

  • 7 · Other salaries and wages

    total $2,668,563 · program services $2,350,393 · management and general $283,970 · fundraising $34,200

  • 8 · Pension plan contributions

    total $64,452 · program services $56,537 · management and general $7,064 · fundraising $851

  • 11b · Fees: legal

    total $149,762 · program services $140,895 · management and general $6,087 · fundraising $2,780

  • 11c · Fees: accounting

    total $99,755 · program services $85,011 · management and general $10,933 · fundraising $3,811

  • 11f · Fees: investment management

    total $36,000 · program services $30,679 · management and general $3,946 · fundraising $1,375

  • 11g · Fees: other

    total $998,667 · program services $827,785 · management and general $103,426 · fundraising $67,456

  • 12 · Advertising and promotion

    total $113,660 · program services $92,637 · management and general $5,594 · fundraising $15,429

  • 13 · Office expenses

    total $282,073 · program services $256,928 · management and general $18,646 · fundraising $6,499

  • 14 · Information technology

    total $249,718 · program services $221,028 · management and general $27,216 · fundraising $1,474

  • 17 · Travel

    total $138,626 · program services $126,788 · management and general $7,660 · fundraising $4,178

  • 19 · Conferences, conventions and meetings

    total $34,072 · program services $31,717 · management and general $1,554 · fundraising $801

  • 20 · Interest

    total $5,485,743 · program services $5,485,743

  • 22 · Depreciation, depletion and amortization

    total $791,337 · program services $714,346 · management and general $57,091 · fundraising $19,900

  • 23 · Insurance

    total $356,438 · program services $338,604 · management and general $13,225 · fundraising $4,609

  • 24a · Other expenses: FORGIVEABLE NOTE AMORTI

    total $98,413,930 · program services $98,413,930 · management and general $0 · fundraising $0

  • 24b · Other expenses: BOND FEES AND PROGRAM F

    total $3,145,117 · program services $3,145,117

  • 24c · Other expenses: GRANT ADMINISTRATION EX

    total $188,837 · program services $180,826 · fundraising $8,011

  • 24d · Other expenses: MISCELLANEOUS EXPENSES

    total $107,345 · program services $104,382 · management and general $2,523 · fundraising $440

  • 24e · All other expenses

    total $58,205 · program services $58,180 · management and general $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,825,393 · end of year $25,419,833

  • 2 · Savings and temporary cash investments

    beginning of year $30,881,543 · end of year $19,752,488

  • 4 · Accounts receivable

    beginning of year $1,708,218 · end of year $970,063

  • 9 · Prepaid expenses and deferred charges

    beginning of year $278,969 · end of year $188,954

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

    $6,880,423

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

    $1,293,108

  • 10c · Land, buildings and equipment, net

    beginning of year $5,674,541 · end of year $5,587,315

  • 11 · Investments: publicly traded securities

    beginning of year $91,505,618 · end of year $164,577,105

  • 13 · Investments: program-related

    beginning of year $303,312,966 · end of year $273,956,632

  • 15 · Other assets

    beginning of year $491,201 · end of year $503,273

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,378,294 · end of year $4,393,596

  • 19 · Deferred revenue

    beginning of year $1,119,966 · end of year $841,965

  • 20 · Tax-exempt bond liabilities

    beginning of year $79,525,565 · end of year $155,685,747

  • 24 · Unsecured notes and loans payable

    beginning of year $2,070,133 · end of year $1,250,000

  • 25 · Other liabilities

    beginning of year $393,822 · end of year $482,502

  • 27 · Net assets without donor restrictions

    beginning of year $346,313,287 · end of year $317,127,477

  • 28 · Net assets with donor restrictions

    beginning of year $8,877,382 · end of year $11,174,376

Mission and programs · 2023

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO SERVE THE NEEDS OF LOWER INCOME TEXANS NOT AFFORDED HOUSING FINANCE OPTIONS THROUGH CONVENTIONAL LENDING SOURCES.

Activities or mission (Part I)

PROVIDE LOWER INCOME TEXANS WITH HOUSING FINANCE OPTIONS.

  • SINGLE FAMILY PROGRAMS PROVIDES 30-YEAR FIXED RATE MORTGAGE LOANS TO ELIGIBLE FIRST-TIME HOMEBUYERS IN TEXAS; PROVIDES DOWN PAYMENT ASSISTANCE TO HOME BUYERS; PROVIDES SHORT AND LONG-TERM FINANCING FOR THE CONSTRUCTION OR IMPROVEMENT OF SINGLE FAMILY HOUSING IN TEXAS; PROVIDES GRANTS FOR THE CONSTRUCTION OR IMPROVEMENT OF SINGLE FAMILY HOUSING IN TEXAS; PROVIDES HOMEBUYER EDUCATION TO BORROWERS.

    Expenses $111,453,075 · Grants $888,584 · Revenue $79,398,007

  • TEXAS HOUSING IMPACT FUND (IMPACT FUND)/FORMERLY AFFORDABLE COMMUNITIES OF TEXAS (ACT) - THE IMPACT FUND OFFERS SHORT AND LONG-TERM FINANCING FOR THE DEVELOPMENT, ACQUISITION, OR REHABILITATION OF AFFORDABLE RENTAL OR HOMEOWNERSHIP DEVELOPMENTS ACROSS TEXAS CREATING OPPORTUNITY, HEALTHIER ENVIRONMENTS AND A HIGHER QUALITY OF LIFE FOR LOW- AND MODERATE-INCOME FAMILIES.

    Expenses $629,209 · Revenue $557,733

  • ASSET MANAGEMENT THE CORPORATION'S SINGLE FAMILY AND MULTIFAMILY RENTAL PROGRAM PROVIDES AFFORDABLE HOUSING AT BELOW-MARKET RENTS TO INCOME-ELIGIBLE FAMILIES AND INDIVIDUALS IN THE AUSTIN AREA; THE CORPORATION ALSO PERFORMS ASSET OVERSIGHT AND COMPLIANCE MONITORING FOR MULTIFAMILY AND SINGLE FAMILY BOND FINANCED PROPERTIES LOCATED THROUGHOUT TEXAS.

    Expenses $1,709,447 · Revenue $2,035,414

  • EXPENSES GRANTS REVENUE MULTI-FAMILY HOUSING 1,132,605 592,389 1,115,108OTHER 234,506 0 0

    Expenses $1,367,111 · Grants $592,389 · Revenue $1,115,108

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

Listed in Part VII

  • William Dietz

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Valerie Cardenas

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Lemuel Williams

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Courtney Johnson-Rose

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andy Williams

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Rassin

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • San Juanita Taylor

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $227,758
    From this org
    $218,958
    From related orgs
    $0
    Other
    $8,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,958
    Bonus
    $0
    Other
    $0
    Deferred
    $8,800
    Nontaxable benefits
    $0
    Filer's total
    $227,758

  • Rebecca Harrison Deleon

    BOARD SECRETARY

    Total calculated
    $90,311
    From this org
    $73,781
    From related orgs
    $0
    Other
    $16,530
    Hours/week
    40

  • Melinda Gay Smith

    CFO

    Total calculated
    $238,530
    From this org
    $222,126
    From related orgs
    $0
    Other
    $16,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,126
    Bonus
    $0
    Other
    $0
    Deferred
    $3,013
    Nontaxable benefits
    $13,391
    Filer's total
    $238,530

  • David W Long

    PRESIDENT

    Total calculated
    $258,108
    From this org
    $234,111
    From related orgs
    $0
    Other
    $23,997
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,111
    Bonus
    $0
    Other
    $0
    Deferred
    $10,032
    Nontaxable benefits
    $13,965
    Filer's total
    $258,108

  • Cynthia Gonzales

    ASSISTANT BOARD SECRETARY

    Total calculated
    $127,215
    From this org
    $98,186
    From related orgs
    $0
    Other
    $29,029
    Hours/week
    40

  • Joniel L Levecque

    SENIOR DIRECTOR OF SINGLE FAMILY HOMEOWNERSHIP

    Total calculated
    $216,698
    From this org
    $195,176
    From related orgs
    $0
    Other
    $21,522
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,176
    Bonus
    $0
    Other
    $0
    Deferred
    $8,131
    Nontaxable benefits
    $13,391
    Filer's total
    $216,698

  • Nicholas Daniel Lawerence

    CONTROLLER

    Total calculated
    $194,698
    From this org
    $159,954
    From related orgs
    $0
    Other
    $34,744
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,954
    Bonus
    $0
    Other
    $0
    Deferred
    $7,709
    Nontaxable benefits
    $27,035
    Filer's total
    $194,698

  • Laura Ross

    SENIOR MANAGER COMMUNICATION & DEVELOPMENT

    Total calculated
    $238,667
    From this org
    $197,235
    From related orgs
    $0
    Other
    $41,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,235
    Bonus
    $0
    Other
    $0
    Deferred
    $1,958
    Nontaxable benefits
    $39,474
    Filer's total
    $238,667

  • Kathryn Howard

    SENIOR DIRECTOR COMMUNICATION, GOVT. RELATIONS

    Total calculated
    $160,731
    From this org
    $129,231
    From related orgs
    $0
    Other
    $31,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,231
    Bonus
    $0
    Other
    $0
    Deferred
    $4,465
    Nontaxable benefits
    $27,035
    Filer's total
    $160,731

  • David Wayne Danenfelzer

    SENIOR DIRECTOR DEVELOPMENT FINANCE

    Total calculated
    $171,953
    From this org
    $126,417
    From related orgs
    $0
    Other
    $45,536
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,417
    Bonus
    $0
    Other
    $0
    Deferred
    $6,062
    Nontaxable benefits
    $39,474
    Filer's total
    $171,953

  • Betsy Aldrich

    SR ACCOUNTING MANAGER

    Total calculated
    $125,847
    From this org
    $107,819
    From related orgs
    $0
    Other
    $18,028
    Hours/week
    40

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 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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • PLANO-DMA TSAHC HOUSING LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $0 · assets $0

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

  • TSAHC PARK ON 14TH LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $470,520 · assets $6,226,712

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

  • TSAHC MF-GC LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $0 · assets $0

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

  • TSAHC JUNIPER CREEK LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $0 · assets $10,000

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

  • TSAHC BOULEVARD 61 LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $0 · assets $0

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

  • TSAHC HOUSTON BOULEVARD 61 LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $0 · assets $0

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

  • TSAHC - CAROLINA CORNER LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $0 · assets $0

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

  • TSAHC CAIRN POINT GP LLC

    DEVELOPING AFFORDABLE HOUSING · TX · income $0 · assets $0

    Directly controlled by TEXAS STATE AFFORDABLE HOUSING

Provenance

Return type
form_990
Tax year
2023
Filed
10 July 2025
IRS schema version
2023v6.0
Source object
202511959349301351

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