Form 990 for tax year 2022

Totals

Total revenue

$2,532,219

Total expenses

$2,106,983

Contributions and grants received

$2,479,578

Grants paid

$1,310,138

Program service revenue

$52,641

Investment income

$0

Other revenue

$0

Total assets, end of year

$651,175

Total liabilities, end of year

$223,221

Net assets or fund balances, end of year

$427,954

Program services expenses (Part IX)

$1,726,060

Management and general expenses

$331,009

Fundraising expenses

$49,914

Program service expenses (Part III)

$1,726,060

Program services were 81.9% 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.

Mission and programs · 2022

• HEA IS A 501(C)3 HUD CERTIFIED COUNSELING AGENCY FOUNDED IN 2002 TO PROVIDE CULTURALLY SENSITIVE BILINGUAL HOUSING COUNSELING SERVICES TO OUR COMMUNITY. AS AN AFFILIATE OF THE NATIONAL COUNCIL OF LA RAZA (NCLR) AND A MEMBER OF THEIR NATIONAL HOMEOWNERSHIP NETWORK (NHN), HEA IS ABLE TO BRING ADDITIONAL RESOURCES TO HELP THE RESIDENTS OF THE COMMUNITIES WE SERVE. HEA CELEBRATES AND EMBRACES THE GIFT AND RICHNESS OF DIVERSITY. EDUCATION & ONE-ON-ONE COUNSELING: FROM ITS INCEPTION IN 2002, HEA HAS DELIVERED OVER 500,000 HOURS IN EDUCATION AND ONE-ON-ONE COUNSELING TO OVER 49,000 FAMILIES AND/OR INDIVIDUALS ON THE SUBJECT OF FINANCIAL LITERACY AND THE HOMEBUYING PROCESS. OUT OF THOSE SERVED APPROXIMATELY 18,000 PURCHASED THEIR FIRST HOME EITHER WITH OR WITHOUT GOVERNMENT DOWN PAYMENT ASSISTANCE STUDENTS LEARN HOW TO IMPROVE THEIR BUDGET AND CREDIT PROFILES, SHOP FOR AND SECURE A MORTGAGE LOAN AND MAINTAIN THEIR HOME AND FINANCES AFTER THE PURCHASE. THE GOAL OF THIS CLASS IS TO PROVIDE PARTICIPANTS WITH THE TOOLS FOR HOUSEHOLD FINANCIAL MANAGEMENT AND BUDGETING TO ENABLE THEM TO MAKE INFORMED DECISIONS IN THE HOME PURCHASING PROCESS. SOME OF THE TOPICS COVERED INCLUDE: UNDERSTANDING CREDIT AND READING A CREDIT REPORT, REPAIRING CREDIT, CHOOSING AND WORKING WITH A LENDER AND THE MORTGAGE PROCESS, UNDERSTANDING MORTGAGE TERMS AND CONDITIONS, CHOOSING A REALTOR AND SELECTING THE RIGHT HOME FOR YOU, CLOSING DOCUMENTS AND WHAT TO EXPECT AT CLOSING. FORECLOSURE PREVENTION: THE HOUSING & EDUCATION ALLIANCE WAS THE LOCAL PARTNER AT TWO FORECLOSURE WORKSHOPS PRESENTED IN PARTNERSHIP WITH HOPE NOW, NEIGHBORWORKS, ALLIANCE FOR STABILIZING OUR COMMUNITIES, NATIONAL COUNCIL OF LA RAZA, NATIONAL URBAN LEAGUE, NATIONAL CAPCD AND BANK OF AMERICA. THE EVENTS PROVIDED NEARLY 5,000 HOMEOWNERS AN OPPORTUNITY TO MEET FACE-TO-FACE WITH THEIR MORTGAGE LENDERS AND LOCAL HOUSING COUNSELORS FROM HUD-APPROVED ORGANIZATIONS IN ORDER TO LOOK FOR SOLUTIONS TO THEIR MORTGAGE ISSUES. FINANCIAL LITERACY: THE FINANCIAL LITERACY PROJECT WILL EDUCATE YOUNG ADULTS AGES 17-19 AS WELL AS ADULTS ON FINANCIAL MATTERS, BANKING, GOAL SETTING, BUDGETING, AND UNDERSTANDING CREDIT. THE PROJECT WILL ENGAGE THE PARTICIPANTS WITH FUN AND AGE APPROPRIATE CLASSROOM EXERCISES AS WELL AS ONLINE FINANCIAL GAMES THAT WILL HELP THEM DEVELOP GOOD BEHAVIORS AND LIFE SKILLS. THESE POSITIVE BEHAVIORS WILL GIVE THEM A HIGHER PROBABILITY OF A FINANCIALLY SUCCESSFUL ADULTHOOD. THE PARTICIPANTS WILL IDENTIFY GOALS AND REWARDS FOR ATTAINING THE GOALS. THERE WILL BE A COMPONENT TO ENGAGE PARTICIPANTS IN COMPETITION WITH THE VIDEO GAMES AND WITH REWARDS FOR HIGHEST SCORES PROVING TO THEM THAT BEING "FINANCIALLY FIT" CAN BE FUN AS WELL AS REWARDING. THE PROGRAM WILL DEMONSTRATE THE BENEFITS OF BEING "FINANCIALLY FIT". PARTICIPANTS WILL UNDERSTAND THE FINANCIAL BENEFIT OF SAVING FOR A GOAL INSTEAD OF USING CREDIT WHICH CAN BE COSTLY. PARTICIPANTS WILL UNDERSTAND HOW TO PREPARE FOR CREDIT, HOW TO PRACTICE GOOD CREDIT BEHAVIORS BY DEVELOPING TRUST THROUGH RESPONSIBLE ACTIONS. PROJECT WILL HELP PARTICIPANTS DEVELOP SMART SPENDING HABITS AND RESPONSIBLE CREDIT CARD USE. PARTICIPANTS WILL BE INSPIRED WITH THE REWARDS OF SAVING, INVESTING WISELY AND BUILDING WEALTH AS WELL AS BE GIVEN WARNING SIGNS OF PREDATORY PRACTICES AND HOW TO AVOID THEM.

  Expenses $1,726,060 · Grants $1,310,138 · Revenue $52,641

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type

form_990

Tax year

2022

Filed

29 April 2023

IRS schema version

2022v5.0

Source object

202343049349300604

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

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