Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $473,812

• 2a · Program service revenue: Property Management Fe

  total $503,718 · related or exempt $503,718

• 2b · Program service revenue: Maintenance Service Fe

  total $197,609 · related or exempt $197,609

• 2c · Program service revenue: Accounting Fees

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

• 2d · Program service revenue: Asset Management Fees

  total $55,251 · related or exempt $55,251

• 2e · Program service revenue: Compliance Service Fee

  total $16,066 · related or exempt $16,066

• 2f · All other program service revenue

  total $4,090 · related or exempt $4,090

• 3 · Investment income

  total $42,619 · excluded $42,619

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $177,367 · program services $177,367

• 7 · Other salaries and wages

  total $665,157 · program services $657,143 · management and general $8,014

• 8 · Pension plan contributions

  total $25,213 · program services $25,213

• 9 · Other employee benefits

  total $64,124 · program services $64,124

• 10 · Payroll taxes

  total $46,902 · program services $46,902

• 11c · Fees: accounting

  total $12,775 · management and general $12,775

• 11g · Fees: other

  total $9,451 · management and general $9,451

• 13 · Office expenses

  total $69,239 · program services $34,140 · management and general $35,099

• 14 · Information technology

  total $20,623 · program services $20,623

• 16 · Occupancy

  total $34,958 · program services $33,694 · management and general $1,264

• 17 · Travel

  total $10,301 · program services $10,301

• 19 · Conferences, conventions and meetings

  total $292 · program services $292

• 22 · Depreciation, depletion and amortization

  total $33,436 · program services $33,436

• 23 · Insurance

  total $25,244 · program services $22,967 · management and general $2,277

• 24a · Other expenses: Repairs & Maintenance

  total $31,216 · program services $16,545 · management and general $14,671

• 24b · Other expenses: Taxes

  total $1,462 · management and general $1,462

• 24c · Other expenses: Licenses & Permits

  total $633 · management and general $633

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,613 · end of year $26,399

• 2 · Savings and temporary cash investments

  beginning of year $24,150 · end of year $147,554

• 4 · Accounts receivable

  beginning of year $156,224 · end of year $310,691

• 7 · Other notes and loans receivable

  beginning of year $1,755,992 · end of year $1,620,683

• 9 · Prepaid expenses and deferred charges

  end of year $2,148

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

  $262,129

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

  $205,055

• 10c · Land, buildings and equipment, net

  beginning of year $56,779 · end of year $57,074

• 15 · Other assets

  beginning of year $60,422 · end of year $110,347

• 17 · Accounts payable and accrued expenses

  beginning of year $170,428 · end of year $168,097

• 25 · Other liabilities

  beginning of year $89,595 · end of year $182,282

• 27 · Net assets without donor restrictions

  beginning of year $1,800,157 · end of year $1,924,517

The filer's explanations (Part III)

Part I, Line 3

The executive director conducts performance reviews for any key employees and gets authorization from the personnel and finance committee members for any salary increases.

Part I, Line 7

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.

Related corporations and trusts

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

• Redwood Oaks - HHDC LLC

  C · Low-Income Housing · CA