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Nonprofiteer
← C A R HOUSING AFFORDABILITY FUND

Form 990 for tax year 2022

Filed by C A R HOUSING AFFORDABILITY FUND.

Totals

Total revenue
$490,129
Total expenses
$1,305,283
Contributions and grants received
$438,255
Grants paid
$1,149,999
Program service revenue
$0
Investment income
$51,874
Other revenue
$0
Total assets, end of year
$1,619,380
Total liabilities, end of year
$104,560
Net assets or fund balances, end of year
$1,514,820
Program services expenses (Part IX)
$1,149,999
Management and general expenses
$155,284
Fundraising expenses
$0
Program service expenses (Part III)
$1,149,999

Program services were 88.1% 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.

  • 1f · All other contributions, gifts and grants

    $438,255

  • 3 · Investment income

    total $47,752 · excluded $47,752

  • 7a · Gross sales of assets other than inventory

    securities $23,695

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

    securities $19,573

  • 7c · Gain or loss

    securities $4,122

  • 7d · Net gain or loss

    total $4,122 · excluded $4,122

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,149,999 · program services $1,149,999

  • 11a · Fees: management

    total $145,000 · management and general $145,000

  • 11f · Fees: investment management

    total $2,814 · management and general $2,814

  • 24a · Other expenses: BANK CHARGES

    total $7,270 · management and general $7,270

  • 24b · Other expenses: LICENSES AND FEES

    total $200 · management and general $200

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,039,794 · end of year $169,830

  • 11 · Investments: publicly traded securities

    beginning of year $1,643,912 · end of year $1,449,550

  • 15 · Other assets

    beginning of year $10 · end of year $0

  • 19 · Deferred revenue

    beginning of year $110,320 · end of year $104,550

  • 25 · Other liabilities

    beginning of year $0 · end of year $10

  • 27 · Net assets without donor restrictions

    beginning of year $2,573,396 · end of year $1,514,820

Mission and programs · 2022

Mission

THE CALIFORNIA ASSOCIATION OF REALTORS HOUSING AFFORDABILITY FUND PLAYS AN ACTIVE ROLE IN ADDRESSING THE ONGOING HOUSING AFFORDABILITY CRISIS FACING OUR STATE. THE FUND WILL RAISE AND DISTRIBUTE FUNDS AND PARTNER WITH OTHER GROUPS TO PROMOTE HOUSING AND HOMEOWNERSHIP.

Activities or mission (Part I)

RAISE AND DISTRIBUTE FUNDS AND PARTNER WITH OTHER GROUPS TO PROMOTE HOUSING AND HOMEOWNERSHIP.

  • THE C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $1,149,999 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES AND PROVIDE CLOSING COSTS ASSISTANCE TO QUALIFIED FIRST-TIME CALIFORNIA HOMEBUYERS.GRANTS TO ORGANIZATIONS=====================DURING 2022, C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $150,000 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES.GRANTS TO INDIVIDUALS=====================DURING 2022, C.A.R.'S CLOSING COST ASSISTANCE GRANT PROGRAM PROVIDED $999,999 TO HELP FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO $10,000 IN CLOSING COST ASSISTANCE. EACH GRANT IS PROVIDED TO LOW-TO-MODERATE INCOME (120% AMI AND BELOW) FIRST-TIME HOMEBUYERS WHO UTILIZE THE SERVICES OF A CA REALTOR.

    Expenses $1,149,999 · Grants $1,149,999

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

Listed in Part VII

  • Carol M Luckenbach

    CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • Denise G Welsh

    VICE CHAIR

    Total calculated
    $3,100
    From this org
    $0
    From related orgs
    $3,100
    Other
    $0
    Hours/week
    2.5

  • Melissa B Chelius

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • Shauna Love

    ASSN. EXEC. (VOTING)

    Total calculated
    $0
    Hours/week
    2.5

  • Beth A Flure

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Chuck Linn

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • David Kerr

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Deborah L Giometti

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Ditas Yamane

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Greg Carlsted

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Judith Myers

    MEMBER

    Total calculated
    $6,000
    From this org
    $0
    From related orgs
    $6,000
    Other
    $0
    Hours/week
    2.5

  • Kevin Birmingham

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Lehel Szucs

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Michael Deleon

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Nila Alvidrez

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Sharon Barron

    MEMBER

    Total calculated
    $3,100
    From this org
    $0
    From related orgs
    $3,100
    Other
    $0
    Hours/week
    2.5

  • Thera Olson

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

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.

Grants on this return

  • NEIGHBORHOOD PARTNERSHIP HOUSING SERVICE

    $333,333

    THE PATHWAY TO HOMEOWNERSHIP CLOSING COST ASSISTANCE GRANT PROGRAMHELPS FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO$10,000IN CLOSING COST ASSISTANCE. EACH GRANT IS PROVIDED TO LOW-TO-MODERATE INCOME (120% AMI AND BELOW) FIRST-TIME HOMEBUYERS WHO UTILIZE THE SERVICES OF A CA REALTOR.

  • NHS NEIGHBORHOOD LENDING SERVICE

    $333,333

    THE PATHWAY TO HOMEOWNERSHIP CLOSING COST ASSISTANCE GRANT PROGRAMHELPS FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO$10,000IN CLOSING COST ASSISTANCE. EACH GRANT IS PROVIDED TO LOW-TO-MODERATE INCOME (120% AMI AND BELOW) FIRST-TIME HOMEBUYERS WHO UTILIZE THE SERVICES OF A CA REALTOR.

  • RICHMOND NEIGHBORHOOD HOUSING

    $333,333

    THE PATHWAY TO HOMEOWNERSHIP CLOSING COST ASSISTANCE GRANT PROGRAMHELPS FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO$10,000IN CLOSING COST ASSISTANCE. EACH GRANT IS PROVIDED TO LOW-TO-MODERATE INCOME (120% AMI AND BELOW) FIRST-TIME HOMEBUYERS WHO UTILIZE THE SERVICES OF A CA REALTOR.

  • LODI ASSOCIATION OF REALTORS

    $50,000

    PROGRAM THAT WILL AWARD $1,000 AFTER CLOSE OF ESCROW TO INDIVIDUALS WHO QUALIFY AS A HERO. AIMED AT OUR MILITARY, VETERANS, POLICE, FIREFIGHTERS, DOCTORS, NURSES, EMT-EMS, AND EDUCATORS.

  • CENTRAL VALLEY ASSOCIATION OF REALTORS

    $50,000

    PROGRAM THAT WILL OFFER FIFTY $1,000 GRANTS IN CLOSING COSTS TO FIRST TIME HOMEBUYERS WHO ARE TEACHERS OR FIRST RESPONDERS WHEN THEY PURCHASE A HOME IN THE STANISLAUS AND SAN JOAQUIN

  • CONEJO SIMI MOORPARK ASSOCIATION OF REALTORS

    $50,000

    A PROGRAM TO OFFER $2,500 GRANTS TO 40 QUALIFIED FIRST-TIME HOMEBUYERS (AFTER CLOSING ESCROW ON THEIR PURCHASED A QUALIFIED PROPERTY)

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.

  • CALIFORNIA ASSOCIATION OF REALTORS

    501(C)(6) · BUSINESS LEAGUE OF CA REALTORS · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • CAR EDUCATION FOUNDATION

    501(C)(3) · PUBLIC CHARITY MAKING EDUCATION GRANTS · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • CAR SCHOLARSHIP FOUNDATION

    501(C)(3) · PUBLIC CHARITY AWARDING SCHOLARSHIPS · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • CALIFORNIANS FOR HOMEOWNERSHIP INC

    501(C)(3) · PUBLIC CHARITY ADVOCATING HOMEOWNERSHIP · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • HOMEOWNERSHIP FOR FAMILIES AND TAX SAVINGS FOR SENIORS

    501(C)(6) · PROMOTE AFFORDABLE HOUSING THROUGH FAIR TAX POLICY · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • CAR ISSUES MOBILIZATION PAC

    501(C)(6) · POLITICAL ACTION COMMITTEE · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • CALIFORNIA REAL ESTATE PAC

    527 · POLITICAL ACTION COMMITTEE · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • CALIFORNIA REAL ESTATE PAC - C A R

    527 · POLITICAL ACTION COMMITTEE · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

  • CA INDEPENDENT EXPENDITURE PAC - C A R

    527 · POLITICAL ACTION COMMITTEE · CA

    Directly controlled by CALIFORNIA ASSOCIATION OF REALTORS

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.

  • REAL ESTATE BUSINESS TECHNOLOGIES INC

    C · REALTOR SOFTWARE · CA

  • CALIFORNIA REAL ESTATE ASSOCIATION INC

    C · REALTOR SERVICES · CA

  • CAR CO CALIFORNIA ASSOC OF REALTORS

    C · NAME PROTECTION · CA

  • FINOM

    C · REAL ESTATE PRODUCTS · CA

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202343169349300059

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