Form 990 for tax year 2022

Filed by INNOVATIVE HOUSING OPPORTUNITIES INC.

Totals

Total revenue: $6,714,303
Total expenses: $2,690,266
Contributions and grants received: $692,349
Grants paid: $1,075
Program service revenue: $5,933,032
Investment income: $127,061
Other revenue: -$38,139
Total assets, end of year: $14,844,069
Total liabilities, end of year: $1,068,467
Net assets or fund balances, end of year: $13,775,602
Program services expenses (Part IX): $2,204,481
Management and general expenses: $485,785
Fundraising expenses: $0
Program service expenses (Part III): $2,204,481

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.

Revenue

Part VIII, the statement of revenue.

1c · Fundraising events

$149,985
1f · All other contributions, gifts and grants

$542,364
1g · Noncash contributions included above

$955
2a · Program service revenue: PARTNERSHIP INVESTMENT

total $4,766,920 · related or exempt $4,766,920
2b · Program service revenue: DEVELOPER FEES

total $697,694 · related or exempt $697,694
2c · Program service revenue: BOND INTEREST

total $276,138 · related or exempt $276,138
2d · Program service revenue: PARTNERSHIP MANAGEMENT

total $162,280 · related or exempt $162,280
2e · Program service revenue: OTHER FEE INCOME

total $30,000 · related or exempt $30,000
3 · Investment income

total $127,061 · excluded $127,061
8a · Fundraising events: gross income

$27,242
8a · Fundraising events: contributions included on line 1c

$149,985
8b · Fundraising events: direct expenses

$65,381
8c · Net income from fundraising events

total -$38,139 · excluded -$38,139

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $1,075 · program services $1,075
5 · Compensation of officers, directors and key employees

total $384,745 · program services $307,796 · management and general $76,949
7 · Other salaries and wages

total $784,767 · program services $627,814 · management and general $156,953
8 · Pension plan contributions

total $32,707 · program services $26,166 · management and general $6,541
10 · Payroll taxes

total $77,084 · program services $61,667 · management and general $15,417
11b · Fees: legal

total $16,736 · program services $13,389 · management and general $3,347
11c · Fees: accounting

total $100,024 · management and general $100,024
11g · Fees: other

total $137,510 · program services $110,008 · management and general $27,502
12 · Advertising and promotion

total $24,205 · program services $19,364 · management and general $4,841
13 · Office expenses

total $72,560 · program services $58,048 · management and general $14,512
16 · Occupancy

total $89,427 · program services $71,542 · management and general $17,885
19 · Conferences, conventions and meetings

total $37,953 · program services $30,362 · management and general $7,591
22 · Depreciation, depletion and amortization

total $29,864 · program services $23,891 · management and general $5,973
23 · Insurance

total $152,793 · program services $122,234 · management and general $30,559
24a · Other expenses: PROJECT RESEARCH

total $309,554 · program services $309,554
24b · Other expenses: BAD DEBT EXPENSE

total $261,341 · program services $261,341
24c · Other expenses: OTHER EXPENSE

total $124,910 · program services $107,219 · management and general $17,691
24d · Other expenses: RESIDENT SERVICES

total $53,011 · program services $53,011

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,648,363 · end of year $4,924,797
2 · Savings and temporary cash investments

beginning of year $3,411,275 · end of year $2,292,672
4 · Accounts receivable

beginning of year $746,895 · end of year $560,288
7 · Other notes and loans receivable

beginning of year $3,632,633 · end of year $5,706,443
9 · Prepaid expenses and deferred charges

beginning of year $6,071 · end of year $3,500
10a · Land, buildings and equipment: cost or other basis

$199,425
10b · Land, buildings and equipment: accumulated depreciation

$122,461
10c · Land, buildings and equipment, net

beginning of year $90,358 · end of year $76,964
15 · Other assets

beginning of year $4,436,174 · end of year $1,279,405
17 · Accounts payable and accrued expenses

beginning of year $94,904 · end of year $747,759
19 · Deferred revenue

beginning of year $3,910,576
23 · Secured mortgages and notes payable

beginning of year $32,952
25 · Other liabilities

beginning of year $181,772 · end of year $320,708
27 · Net assets without donor restrictions

beginning of year $9,706,565 · end of year $13,362,973
28 · Net assets with donor restrictions

beginning of year $45,000 · end of year $412,629

Mission and programs · 2022

Mission

IHO ENRICHES LIVES, STRENGTHENS COMMUNITIES, AND ADVANCES SOCIAL EQUITY BY PROVIDING HIGH-QUALITY AFFORDABLE HOUSING WITH INTEGRATED SUPPORT SERVICES.

Activities or mission (Part I)

IHO IS AN AWARD-WINNING NONPROFIT DEVELOPER OF AFFORDABLE, PERMANENT RENTAL, MIXED-INCOME, AND MIXED-USE HOUSING COMMUNITIES.

SINCE 1976, INNOVATIVE HOUSING OPPORTUNITIES (IHO) HAS DEVELOPED ANDADVOCATED FOR HIGH-QUALITY, PERMANENT RENTAL HOMES FOR LOW TO MODERATE-INCOME RESIDENTS IN CALIFORNIA. OUR PORTFOLIO INCLUDES AFFORDABLE, MIXED-INCOME, MIXED-POPULATION, AND MIXED-USE HOUSING COMMUNITIES WITH INTEGRATED, HOLISTIC RESIDENT SERVICES AND PROGRAMS THAT ENRICH LIVES, ADVANCE SOCIAL EQUITY AND ACCELERATE THE ECONOMIC SELF-RELIANCE OF FAMILIES, SENIORS, AND SPECIAL NEEDS RESIDENTS.

Expenses $2,204,481 · Grants $1,075 · Revenue $5,933,032

As filed on the 2022 return.

Listed in Part VII

Dave KrootDAVE KROOT

BOARD CHAIR EC CHAIR/PRC

Total calculated

$0

Hours/week

2
Mary Watson-BruceMARY WATSON-BRUCE

BOARD VICE CHAIR EC/FDMC

Total calculated

$0

Hours/week

2
Betsy DensmoreBETSY DENSMORE

BOARD SECRETARY EC/FDMC/AC CHAIR

Total calculated

$0

Hours/week

2
Brandon McCallBRANDON MCCALL

BOARD TREASURER EC/PFC/FC CHAIR

Total calculated

$0

Hours/week

2
Lacheryl PorterLACHERYL PORTER

BOARD DIRECTOR AC/PRC

Total calculated

$0

Hours/week

2
Elizabeth TrombleyELIZABETH TROMBLEY

BOARD DIRECTOR FDMC

Total calculated

$0

Hours/week

2
Clemente MojicaCLEMENTE MOJICA

BOARD DIRECTOR FC

Total calculated

$0

Hours/week

2
Brenda J RodriguezBRENDA J RODRIGUEZ

BOARD DIRECTOR AC

Total calculated

$0

Hours/week

2
Jeff KearnsJEFF KEARNS

BOARD DIRECTOR FC/PRC

Total calculated

$0

Hours/week

2
Florita AvilaFLORITA AVILA

BOARD AT-LARGE DIRECTOR EC/PRC CHAIR

Total calculated

$0

Hours/week

2
Ezra BoldsEZRA BOLDS

CFO

Total calculated

$138,631

From this org

$138,631

From related orgs

$0

Other

$0

Hours/week

40
Rochelle MillsROCHELLE MILLS

PRESIDENT & CEO

Total calculated

$246,114

From this org

$246,114

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$246,114

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$246,114
Miguel GarciaMIGUEL GARCIA

DIRECTOR, REAL ESTATE DEVE

Total calculated

$126,063

From this org

$126,063

From related orgs

$0

Other

$0

Hours/week

40

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.

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.

ACACIA STREET APARTMENTS LLC

RENTAL, MULTI-FAMILY · CA · income -$106,849 · assets $2,105,450

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO NORWALK LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income $155,798 · assets $264

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO HARDING STREET LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income -$1 · assets $895

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO THE ASPIRE LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income $0 · assets $0

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO 87TH AND WESTERN LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income $0 · assets $0

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO VIENTOS DE ORO LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income $0 · assets $0

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO ANILLO DE ORO LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income $0 · assets $0

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO EL VERANO LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income -$31 · assets $1,165

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO FIRMIN LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income -$6 · assets $16,808

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO DERIAN LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income -$3 · assets $2,420

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO WOODBRIDGE LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income -$870 · assets -$870

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO PINE LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income $0 · assets $0

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC
IHO PACIFIC LLC

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · income $0 · assets $0

Directly controlled by INNOVATIVE HOUSING OPPORTUNITIES INC

Related partnerships

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

WOODBRIDGE MANOR LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0.01% owned · share of income $2 · share of assets $799 · general or managing partner
NORWALK PRESERVATION LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0% owned · share of income $7 · share of assets $292 · general or managing partner
HARDING STREET NEIGHBORS LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 50% owned · general or managing partner
17275 DERIAN LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · share of income -$3 · share of assets $126 · general or managing partner
THE ASPIRE LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0% owned · general or managing partner
ANILLO DE ORO LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0.01% owned · share of assets $621 · general or managing partner
VIENTOS DE ORO LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 49% owned · share of income -$67,544 · share of assets $2,030,840 · general or managing partner
87TH AND WESTERN LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0.01% owned · share of income $1 · share of assets $1,048 · general or managing partner
EL VERANO LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0.01% owned · share of income -$31 · share of assets $1,271 · general or managing partner
FIRMIN COURT LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0.01% owned · share of income -$6 · share of assets $438
WOODBRIDGE MANOR PRESERVATION LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 0.01% owned · share of income -$871 · share of assets $7,909 · general or managing partner
PINE AVE LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 47.49% owned · general or managing partner
PACIFIC AVE LP

RELATED · TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS · CA · 20% owned · general or managing partner

Provenance

Return type: form_990
Tax year: 2022
Filed: 14 November 2023
IRS schema version: 2022v5.0
Source object: 202343199349329304

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