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← SOUTHERN CALIFORNIA HOUSING DEVELOPMENT CORPORATION OF THE INL

Form 990 for tax year 2023

Filed by SOUTHERN CALIFORNIA HOUSING DEVELOPMENT CORPORATION OF THE INL.

Totals

Total revenue
$531,918
Total expenses
$3,835,537
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$371,550
Investment income
$160,368
Other revenue
$0
Total assets, end of year
$7,685,852
Total liabilities, end of year
$14,303,674
Net assets or fund balances, end of year
-$6,617,822
Program services expenses (Part IX)
$3,835,077
Management and general expenses
$460
Fundraising expenses
$0
Program service expenses (Part III)
$3,835,077

Program services were 100.0% 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: PARTNERSHIP MANAGEMENT

    total $351,369 · related or exempt $351,369

  • 2b · Program service revenue: ASSET MANAGEMENT FEES

    total $20,181 · related or exempt $20,181

  • 3 · Investment income

    total $160,368 · related or exempt $160,368

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $460 · management and general $460

  • 20 · Interest

    total $160,368 · program services $160,368

  • 24a · Other expenses: FLOW THROUGH RENTAL LOS

    total $3,674,709 · program services $3,674,709

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $10,100

  • 7 · Other notes and loans receivable

    end of year $7,263,657

  • 15 · Other assets

    beginning of year $51,105 · end of year $412,095

  • 25 · Other liabilities

    beginning of year $3,365,308 · end of year $14,303,674

  • 27 · Net assets without donor restrictions

    beginning of year -$3,314,203 · end of year -$6,617,822

Mission and programs · 2023

Mission

TO PROVIDE AWARD-WINNING AFFORDABLE HOUSING PAIRED WITH BEST-PRACTICE SOCIAL SERVICE PROGRAMS TAILORED TO HELP FAMILIES MOVE TOWARD SELF-SUFFICIENCY AND ULTIMATELY TO HOME OWNERSHIP.

Activities or mission (Part I)

PROVIDING AFFORDABLE RENTAL HOUSING THAT EMPOWERS LOW-INCOME RESIDENTS AND CHANGES COMMUNITIES.

  • IMPROVING THE QUALITY OF LIFE FOR LOW-INCOME FAMILIES BY STABILIZING AND REVITALIZING NEIGHBORHOODS VIA ACQUISITION, RENOVATION, AND MANAGEMENT OF AFFORDABLE HOUSING DEVELOPMENTS IN SOUTHERN CALIFORNIA.

    Expenses $3,835,077 · Revenue $531,918

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

Listed in Part VII

  • JEFFREY BURUM

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ARMANDO BUCELO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JAMES CASHION

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • GAVIN CLINGHAM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RAYMOND CREBS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LAURA KURTZ KUHNS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • STEPHEN G LARSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • SUSAN BURTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RICHARD DAWSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • VENUS LUJAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • NORA MENDEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOVITA SCHOFIELD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHAEL FINN

    CHIEF FINANCIAL OFFICER

    Total calculated
    $241,472
    From this org
    $0
    From related orgs
    $211,472
    Other
    $30,000
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,074 related
    Bonus
    $0 + $20,398 related
    Other
    $0
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $241,472 related

  • ROBERT DIAZ

    EXECUTIVE VP, SECRETARY AND GENERAL COUNSEL

    Total calculated
    $267,382
    From this org
    $0
    From related orgs
    $246,655
    Other
    $20,727
    Hours/week
    0.9 + 39.1 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,335 related
    Bonus
    $0 + $33,320 related
    Other
    $0
    Deferred
    $0 + $20,727 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $267,382 related

  • MICHAEL RUANE

    PRESIDENT

    Total calculated
    $244,230
    From this org
    $0
    From related orgs
    $218,230
    Other
    $26,000
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,430 related
    Bonus
    $0 + $30,800 related
    Other
    $0
    Deferred
    $0 + $26,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $244,230 related

  • DORETTA BRYAN

    ASSISTANT SECRETARY

    Total calculated
    $153,438
    From this org
    $0
    From related orgs
    $130,706
    Other
    $22,732
    Hours/week
    1.7 + 38.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $118,450 related
    Bonus
    $0 + $12,256 related
    Other
    $0
    Deferred
    $0 + $22,732 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $153,438 related

  • DEVIN WRIGHT

    ASSISTANT SECRETARY

    Total calculated
    $73,462
    From this org
    $0
    From related orgs
    $73,462
    Other
    $0
    Hours/week
    2.3 + 37.7 related

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE BOXES CHECKED IN 1(A) OF PART I WERE PROVIDED BY RELATED ORGANIZATIONS. ALL BOARD MEMBERS ARE COMPENSATED BY A RELATED ORGANIZATION FOR COMMERCIAL AIRLINE TRAVEL AND TRAVEL FOR COMPANIONS.
PART I, LINE 3
A RELATED ORGANIZATION USES A WRITTEN EMPLOYMENT CONTRACT IN ESTABLISHING THE COMPENSATION OF THE EXECUTIVE DIRECTOR.
PART I, LINE 5
CEO BONUS

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.

Related partnerships

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

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202443119349303564

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