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Nonprofiteer
← SAN FRANCISCO HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by SAN FRANCISCO HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$8,226,234
Total expenses
$11,100,141
Contributions and grants received
$6,750,594
Grants paid
$8,000
Program service revenue
$1,532,418
Investment income
$1,225
Other revenue
-$58,003
Total assets, end of year
$46,612,669
Total liabilities, end of year
$35,469,719
Net assets or fund balances, end of year
$11,142,950
Program services expenses (Part IX)
$9,052,170
Management and general expenses
$1,862,309
Fundraising expenses
$185,662
Program service expenses (Part III)
$9,052,170

Program services were 81.6% 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.

  • 1c · Fundraising events

    $274,746

  • 1e · Government grants (contributions)

    $6,247,479

  • 1f · All other contributions, gifts and grants

    $228,369

  • 2a · Program service revenue: RENTAL INCOME

    total $867,346 · related or exempt $867,346

  • 2b · Program service revenue: PROJECT MGMT SERVICES

    total $316,640 · related or exempt $316,640

  • 2c · Program service revenue: OTHER INCOME

    total $196,432 · related or exempt $196,432

  • 2d · Program service revenue: DEVELOPER FEES

    total $152,000 · related or exempt $152,000

  • 3 · Investment income

    total $1,225 · excluded $1,225

  • 8a · Fundraising events: gross income

    $116,410

  • 8a · Fundraising events: contributions included on line 1c

    $274,746

  • 8b · Fundraising events: direct expenses

    $174,413

  • 8c · Net income from fundraising events

    total -$58,003 · excluded -$58,003

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,000 · program services $8,000

  • 5 · Compensation of officers, directors and key employees

    total $394,420 · program services $298,405 · management and general $87,680 · fundraising $8,335

  • 7 · Other salaries and wages

    total $3,034,784 · program services $2,300,411 · management and general $669,170 · fundraising $65,203

  • 9 · Other employee benefits

    total $322,499 · program services $216,157 · management and general $106,327 · fundraising $15

  • 10 · Payroll taxes

    total $296,552 · program services $226,629 · management and general $57,447 · fundraising $12,476

  • 11b · Fees: legal

    total $261,535 · program services $239,201 · management and general $22,334

  • 11c · Fees: accounting

    total $162,707 · program services $29,586 · management and general $133,121

  • 11e · Fees: professional fundraising services

    total $72,500 · fundraising $72,500

  • 11g · Fees: other

    total $1,896,159 · program services $1,789,893 · management and general $106,266

  • 12 · Advertising and promotion

    total $89,816 · program services $64,801 · management and general $24,712 · fundraising $303

  • 13 · Office expenses

    total $116,590 · program services $57,267 · management and general $58,431 · fundraising $892

  • 16 · Occupancy

    total $571,505 · program services $536,438 · management and general $34,947 · fundraising $120

  • 17 · Travel

    total $13,066 · program services $11,025 · management and general $2,006 · fundraising $35

  • 20 · Interest

    total $1,100,032 · program services $1,057,413 · management and general $42,619

  • 22 · Depreciation, depletion and amortization

    total $664,208 · program services $657,571 · management and general $5,967 · fundraising $670

  • 23 · Insurance

    total $433,463 · program services $191,170 · management and general $241,843 · fundraising $450

  • 24a · Other expenses: RESIDENT OUTREACH

    total $445,386 · program services $445,386

  • 24b · Other expenses: PROGRAM SUPPL/FOOD/MATE

    total $339,900 · program services $328,425 · management and general $8,968 · fundraising $2,507

  • 24c · Other expenses: TRAINING EXPENSE

    total $161,465 · program services $63,418 · management and general $97,852 · fundraising $195

  • 24d · Other expenses: LICENSES AND FEES

    total $149,378 · program services $93,543 · management and general $55,774 · fundraising $61

  • 24e · All other expenses

    total $566,176 · program services $437,431 · management and general $106,845 · fundraising $21,900

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $476,262 · end of year $640,033

  • 2 · Savings and temporary cash investments

    beginning of year $1,367,236 · end of year $931,731

  • 3 · Pledges and grants receivable

    beginning of year $1,653,981 · end of year $1,713,880

  • 4 · Accounts receivable

    beginning of year $391,081 · end of year $600,548

  • 9 · Prepaid expenses and deferred charges

    beginning of year $299,189 · end of year $43,021

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

    $32,140,053

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

    $2,320,907

  • 10c · Land, buildings and equipment, net

    beginning of year $24,769,690 · end of year $29,819,146

  • 13 · Investments: program-related

    beginning of year $2,804,045 · end of year $2,726,073

  • 15 · Other assets

    beginning of year $11,788,615 · end of year $10,138,237

  • 17 · Accounts payable and accrued expenses

    beginning of year $645,726 · end of year $1,246,061

  • 19 · Deferred revenue

    beginning of year $707,375 · end of year $95,859

  • 23 · Secured mortgages and notes payable

    beginning of year $26,244,312 · end of year $31,287,242

  • 25 · Other liabilities

    beginning of year $2,514,650 · end of year $2,840,557

  • 27 · Net assets without donor restrictions

    beginning of year $13,017,696 · end of year $11,142,950

  • 28 · Net assets with donor restrictions

    beginning of year $420,340 · end of year $0

Mission and programs · 2023

Mission

WE FOSTER FINANCIAL STABILITY THROUGH THE DEVELOPMENT OF AFFORDABLE HOUSING, THE FACILITATION OF ASSET BUILDING, AND REVITALIZATION OF SAN FRANCISCO'S UNDERSERVED NEIGHBORHOODS.

Activities or mission (Part I)

AFFORDABLE HOUSING DEVELOPMENT, HOMEOWNERSHIP, HOUSING AND FINANCIAL EMPOWERMENT SERVICES.

  • REAL ESTATE DEVELOPMENT:SFHDC'S REAL ESTATE DEVELOPMENT TEAM COMPLETED RENOVATIONS AND LEASE-UP OF 168 SICKLES AVE, A 12-UNIT PRESERVATION PROJECT; BEGAN RENOVATIONS ON 936 GEARY STREET, 375 14TH STREET, AND 528 NATOMA STREET, PRESERVING ANOTHER 51 AFFORDABLE UNITS; AND MADE PROGRESS ON PRE-DEVELOPMENT FOR THE SOON-TO-BE-CONSTRUCTED 160 FREELON STREET AND SHIPYARD BLOCK 56, TOTALING APPROXIMATELY 145 NEW UNITS.

    Expenses $3,206,176 · Revenue $497,613

  • FINANCIAL EMPOWERMENT & HOUSING COUNSELING:SFHDC'S FINANCIAL EMPOWERMENT PROGRAM EDUCATED 1,465 LOW- AND MODERATE-INCOME INDIVIDUALS THROUGH FIRST-TIME HOMEBUYER WORKSHOPS; PROVIDED RENTAL COUNSELING TO OVER 200 CLIENTS; IMPROVED THE FINANCIAL LITERACY OF HUNDREDS OF ADDITIONAL CLIENTS; AND SUPPORTED 35 HOUSEHOLDS IN BUYING THEIR FIRST HOMES.

    Expenses $848,186 · Revenue $942,893

  • RESIDENT SERVICES:IN THE AREA OF RESIDENT SERVICES, SFHDC PROVIDED MEANINGFUL, ON-SITE SUPPORT TO APPROXIMATELY 2,500 RESIDENTS ACROSS EIGHT SITES, INCLUDING TWO NEW PROPERTIES. IT ALSO HOSTED DOZENS OF COMMUNITY-BUILDING ACTIVITIES AND EVENTS, SERVING YOUTH, ADULTS, SENIORS, AND WHOLE FAMILIES.

    Expenses $1,393,995 · Grants $8,000 · Revenue $18,330

  • ECONOMIC DEVELOPMENT:OUR ECONOMIC DEVELOPMENT PROGRAM LAUNCHED "IN THE BLACK", A BRICK AND MORTAR SHOP FEATURING PRODUCTS BY 20 BLACK ENTREPRENEURS; GRADUATED TWO COHORTS, TOTALING 67 BUSINESSES, THROUGH OUR "MINDING MY BLACK-OWNED BUSINESS" TECHNICAL ASSISTANCE PROGRAM; SOURCED 9,500 HOT MEALS THROUGH LOCAL CHEFS FOR DISTRIBUTION TO LOW-INCOME SENIORS; AND COORDINATED THE JUNETEENTH FESTIVAL AND THE WESTERN ADDITION MUSIC FESTIVAL, ATTRACTING THOUSANDS OF ATTENDEES

    Expenses $3,603,813 · Revenue $73,582

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

Listed in Part VII

  • Lena Robinson

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Daniel Y Wong

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ben Golvin

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Antoinette McGill

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Eskildsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles Turner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dorris Vincent

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eddie Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Josie Ramirez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cecelia Mkondiwa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Jeng

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David J Sobel

    CEO

    Total calculated
    $214,797
    From this org
    $197,965
    From related orgs
    $0
    Other
    $16,832
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,965
    Bonus
    $0
    Other
    $0
    Deferred
    $2,127
    Nontaxable benefits
    $14,705
    Filer's total
    $214,797

  • Nimish Mehta

    CFO

    Total calculated
    $168,000
    From this org
    $165,756
    From related orgs
    $0
    Other
    $2,244
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,756
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $2,244
    Filer's total
    $168,000

  • Tom Kostosky

    INTERIM DIR. OF REAL ESTATE DEVEL.

    Total calculated
    $149,350
    From this org
    $145,000
    From related orgs
    $0
    Other
    $4,350
    Hours/week
    35

  • Pia Harris

    DIR. OF ECONOMIC DEVELOPMENT

    Total calculated
    $140,654
    From this org
    $140,654
    From related orgs
    $0
    Other
    $0
    Hours/week
    35

  • Jessica Mataka

    INTERIM PROGRAM DIR. ECONOMIC DEVEL.

    Total calculated
    $126,085
    From this org
    $125,385
    From related orgs
    $0
    Other
    $700
    Hours/week
    35

  • Lolita Ramos

    FINANCE & ADMIN

    Total calculated
    $130,590
    From this org
    $118,962
    From related orgs
    $0
    Other
    $11,628
    Hours/week
    35

  • Michael S Manigault

    RED PROJECT MANAGER

    Total calculated
    $119,353
    From this org
    $116,000
    From related orgs
    $0
    Other
    $3,353
    Hours/week
    35

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

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.

  • GREEN BLENDED COMMUNITIES LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC ALICE GRIFFITH I LLC

    LOW INCOME HOUSING · CA · income $23,793 · assets $0

    Directly controlled by SFHDC

  • SFHDC ALICE GRIFFITH 3A LLC

    LOW INCOME HOUSING · CA · income $19,316 · assets $0

    Directly controlled by SFHDC

  • SFHDC ALICE GRIFFITH 3B LLC

    LOW INCOME HOUSING · CA · income $15,339 · assets $0

    Directly controlled by SFHDC

  • SFHDC 160 FREELON LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC 455 FELL LLC

    LOW INCOME HOUSING · CA · income $8,928 · assets $0

    Directly controlled by SFHDC

  • SFHDC CANDLESTICK 11A LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC BERNAL LLC

    LOW INCOME HOUSING · CA · income $23,468 · assets $0

    Directly controlled by SFHDC

  • SFHDC CULINARY BUSINESS DEVELOPMENT LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC ECONOMIC DEVELOPMENT LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC FILLMORE HERITAGE CENTER LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC FILLMORE MARKETPLACE LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC HAF LLC

    LOW INCOME HOUSING · CA · income $430,807 · assets $18,307,702

    Directly controlled by SFHDC

  • SFHDC HAYES VALLEY SOUTH LLC

    LOW INCOME HOUSING · CA · income $24,284 · assets $0

    Directly controlled by SFHDC

  • SFHDC HAYES VALLEY NORTH LLC

    LOW INCOME HOUSING · CA · income $22,562 · assets $0

    Directly controlled by SFHDC

  • SFHDC HPSY BLOCK 56 LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC SMALL SITES LLC

    LOW INCOME HOUSING · CA · income $725,099 · assets $9,790,405

    Directly controlled by SFHDC

  • SFHDC ALL HALLOWS APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC BAYVIEW APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC LA SALLE APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC SHOREVIEW APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC SMALL SITES 168 SICKLES LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC 375 14TH STREET LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC SMALL SITES 520 SHRADER LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC SMALL SITES 528 NATOMA LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

  • SFHDC SMALL SITES 936 GEARY LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by SFHDC

Related partnerships

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

  • 4445 THIRD STREET ASSOCIATES

    RELATED · LOW INCOME HOUSING · CA · 86.8% owned · general or managing partner

    Directly controlled by SFHDC

  • 455 FELL LP

    RELATED · LOW INCOME HOUSING · CA · share of income -$109 · share of assets $1,027,457 · general or managing partner

    Directly controlled by SFHDC 455 FELL LLC

  • 528 NATOMA LP

    RELATED · LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by SFHDC HAF LLC

  • 936 GEARY LP

    RELATED · LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by SFHDC HAF LLC

  • ALICE GRIFFITH PHASE 1 LP

    RELATED · LOW INCOME HOUSING · CA · share of income -$164 · share of assets $769,149 · general or managing partner

    Directly controlled by SFHDC ALICE GRIFFITH I LLC

  • ALICE GRIFFITH PHASE 3A LP

    RELATED · LOW INCOME HOUSING · CA · share of income -$136 · share of assets $755,169 · general or managing partner

    Directly controlled by SFHDC ALICE GRIFFITH 3A LLC

  • ALICE GRIFFITH PHASE 3B LP

    RELATED · LOW INCOME HOUSING · CA · share of income -$62 · share of assets $371,545 · general or managing partner

    Directly controlled by SFHDC ALICE GRIFFITH 3B LLC

  • BERNAL HOMES LP

    RELATED · LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by SFHDC BERNAL LLC

  • CANDLESTICK POINT 11A LP

    RELATED · LOW INCOME HOUSING · CA · 49% owned · general or managing partner

    Directly controlled by SFHDC CANDLESTICK 11A LLC

  • FC 2175 MARKET LP

    RELATED · LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by SFHDC

  • FC 2175 WORKFORCE LP

    RELATED · LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by SFHDC

  • FILLMORE MARKET PLACE LP

    RELATED · LOW INCOME HOUSING · CA · 0.5% owned · general or managing partner

    Directly controlled by SFHDC

  • FILLMORE MARKETPLACE HOUSING LP

    RELATED · LOW INCOME HOUSING · CA · 0.05% owned · general or managing partner

    Directly controlled by SFHDC FILLMORE MARKETPLACE II LLC

  • HAYES VALLEY III LP

    RELATED · LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by SFHDC HAYES VALLEY NORTH LLC

  • HAYES VALLEY IV LP

    RELATED · LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by SFHDC HAYES VALLEY SOUTH LLC

  • HUNTERS POINT BLOCK 56 LP

    RELATED · LOW INCOME HOUSING · CA · 40% owned · general or managing partner

    Directly controlled by SFHDC HPSY BLOCK 56 LLC

  • HUNTERS POINT EAST WEST LP

    RELATED · LOW INCOME HOUSING · CA · 0.01% owned · general or managing partner

    Directly controlled by SFHDC

  • OCEAN BEACH APARTMENTS LP

    RELATED · LOW INCOME HOUSING · CA · 0.01% owned · general or managing partner

    Directly controlled by SFHDC

  • WESTBROOK HOUSING PARTNERS LP

    RELATED · LOW INCOME HOUSING · CA · 0.01% owned · general or managing partner

    Directly controlled by SFHDC

  • SFHDC FILLMORE MARKETPLACE II LLC

    RELATED · LOW INCOME HOUSING · CA · 79% owned · general or managing partner

    Directly controlled by SFHDC

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349317297

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