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← HIP HOUSING AFFORDABLE VENTURES INC HHAV

Form 990 for tax year 2023

Filed by HIP HOUSING AFFORDABLE VENTURES INC HHAV.

Totals

Total revenue
$898,754
Total expenses
$1,158,498
Contributions and grants received
$0
Grants paid
$250,954
Program service revenue
$847,558
Investment income
$51,196
Other revenue
$0
Total assets, end of year
$2,060,180
Total liabilities, end of year
$260,023
Net assets or fund balances, end of year
$1,800,157
Program services expenses (Part IX)
$1,120,136
Management and general expenses
$38,362
Fundraising expenses
$0
Program service expenses (Part III)
$1,120,136

Program services were 96.7% 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.

  • 2a · Program service revenue: ACCOUNTING FEES

    total $59,588 · related or exempt $59,588

  • 2b · Program service revenue: ASSET MANAGEMENT FEES

    total $53,620 · related or exempt $53,620

  • 2c · Program service revenue: INSURANCE PROCEEDS

    total $14,446 · related or exempt $14,446

  • 2d · Program service revenue: MAINTENANCE SERVICE FEES

    total $219,764 · related or exempt $219,764

  • 2e · Program service revenue: PROPERTY MANAGEMENT FEES

    total $488,614 · related or exempt $488,614

  • 2f · All other program service revenue

    total $11,526 · related or exempt $11,526

  • 3 · Investment income

    total $51,196 · excluded $51,196

  • 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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $250,954 · program services $250,954

  • 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 $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $580,664 · program services $552,912 · management and general $27,752

  • 8 · Pension plan contributions

    total $25,976 · program services $25,976

  • 9 · Other employee benefits

    total $37,756 · program services $37,756

  • 10 · Payroll taxes

    total $40,280 · program services $40,280

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $28 · program services $28

  • 11c · Fees: accounting

    total $10,610 · management and general $10,610

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $5,941 · program services $5,941

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $47,130 · program services $47,130

  • 14 · Information technology

    total $14,520 · program services $14,520

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $29,400 · program services $29,400

  • 17 · Travel

    total $8,507 · program services $8,507

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $11,984 · program services $11,984

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $37,848 · program services $37,848

  • 23 · Insurance

    total $6,388 · program services $6,388

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $36,589 · program services $36,589

  • 24b · Other expenses: WORKERS COMPENSATION

    total $9,655 · program services $9,655

  • 24c · Other expenses: UTILITIES

    total $3,616 · program services $3,616

  • 24d · Other expenses: MISCELLANEOUS EXPENSES

    total $652 · program services $652

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,057 · end of year $6,613

  • 2 · Savings and temporary cash investments

    beginning of year $9,783 · end of year $24,150

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $105,715 · end of year $156,224

  • 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 $1,960,681 · end of year $1,755,992

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,365 · end of year $0

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

    $228,398

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

    $171,619

  • 10c · Land, buildings and equipment, net

    beginning of year $92,844 · end of year $56,779

  • 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 $106,195 · end of year $60,422

  • 17 · Accounts payable and accrued expenses

    beginning of year $155,365 · end of year $170,428

  • 25 · Other liabilities

    beginning of year $70,374 · end of year $89,595

  • 27 · Net assets without donor restrictions

    beginning of year $2,059,901 · end of year $1,800,157

Mission and programs · 2023

Mission

TO BENEFIT AND SUPPORT HUMAN INVESTMENT PROJECT, INC., A RELATED CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, AND ITS EXEMPT PURPOSE OF IMPROVING HOUSING AND LIVES OF PEOPLE IN ITS COMMUNITY.

  • THE CORPORATION PROVIDES LOW COST CONSULTING, MANAGEMENT, ADVISORY, AND OTHER HOUSING RELATED SERVICES FOR HOUSING PROJECTS SERVING LOW-INCOME HOUSEHOLDS.

    Expenses $869,182 · Revenue $847,558

  • THE CORPORATION PROVIDES GRANTS FOR GENERAL SUPPORT TO HUMAN INVESTMENT PROJECT, INC., A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION.

    Expenses $250,954 · Grants $250,954

As filed on the 2023 return.

Listed in Part VII

  • Kate Comfort Harr

    Executive Dir.

    Total calculated
    $221,010
    From this org
    $0
    From related orgs
    $193,704
    Other
    $27,306
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    not reported + $192,304 related
    Bonus
    not reported + $1,400 related
    Other
    not reported
    Deferred
    not reported + $9,605 related
    Nontaxable benefits
    not reported + $17,701 related
    Filer's total
    not reported + $221,010 related

  • Ghion Dessie

    Controller

    Total calculated
    $177,433
    From this org
    $0
    From related orgs
    $161,672
    Other
    $15,761
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    not reported + $160,172 related
    Bonus
    not reported + $1,500 related
    Other
    not reported
    Deferred
    not reported + $8,008 related
    Nontaxable benefits
    not reported + $7,753 related
    Filer's total
    not reported + $177,433 related

  • Thatiane Avila

    VP - PROP MGMT

    Total calculated
    $136,269
    From this org
    $122,696
    From related orgs
    $0
    Other
    $13,573
    Hours/week
    40

  • Joshua Amoroso

    President

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Nancy Bush

    Treasurer

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Kalah Espinoza

    Secretary

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Lauren Boro

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Bruce Bean

    Director

    Total calculated
    $0
    Hours/week
    0.5

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7: Non-Fixed payments not listed above
EMPLOYEES OF HIP HOUSING AFFORDABLE VENTURES, INC. (HHAV) ARE PAID ANNUAL BONUS COMPENSATION BASED ON THREE COMPONENTS:1) YEARS OF SERVICE - THE ANNUAL BONUS IS INCREASED BASED ON THE NUMBER OF YEARS AN EMPLOYEE HAS WORKED FOR HHAV;2) LEVEL OF SERVICE - THE ANNUAL BONUS IS INCREASED BASED ON IF THE EMPLOYEE IS A LINE STAFF MEMBER, A SUPERVISOR, OR A DIVISION HEAD;3) PERFORMANCE - THE ANNUAL BONUS IS ALSO BASED ON PERFORMANCE RECOMMENDATIONS FROM DIVISION HEADS WITH THE FINAL DECISION BEING MADE BY THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR'S PERFORMANCE BONUS IS APPROVED BY THE EXECUTIVE COMMITTEE OF HUMAN INVESTMENT PROJECT, INC.'S (A RELATED 501(C)(3) NONPROFIT PUBLIC BENEFIT CORPORATION) BOARD OF DIRECTORS.

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.

Related corporations and trusts

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

  • REDWOOD OAKS - HHDC LLC

    C CORP · LOW-INCOME HOUSING · CA

    Directly controlled by 94-3159161

Provenance

Return type
form_990
Tax year
2023
Filed
21 January 2025
IRS schema version
2023v6.0
Source object
202500229349301365

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