Form 990 for tax year 2022
Filed by CORPORATION FOR BETTER HOUSING.
Totals
- Total revenue
- $20,928,821
- Total expenses
- $9,106,583
- Contributions and grants received
- $737,503
- Grants paid
- $2,000
- Program service revenue
- $19,870,052
- Investment income
- $321,266
- Other revenue
- $0
- Total assets, end of year
- $399,165,553
- Total liabilities, end of year
- $337,471,919
- Net assets or fund balances, end of year
- $61,693,634
- Program services expenses (Part IX)
- $8,535,006
- Management and general expenses
- $571,577
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $8,535,006
Program services were 93.7% 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.
-
1e · Government grants (contributions)
$737,503
-
2a · Program service revenue: DEVELOPER FEE
total $14,672,789 · related or exempt $14,672,789
-
2b · Program service revenue: MANAGEMENT FEE
total $555,581 · related or exempt $555,581
-
2c · Program service revenue: OTHER INCOME
total $112,354 · related or exempt $112,354
-
2d · Program service revenue: RENTAL INCOME
total $4,357,624 · related or exempt $4,357,624
-
2e · Program service revenue: SOCIAL SERVICE FEE
total $86,279 · related or exempt $86,279
-
2f · All other program service revenue
total $85,425 · related or exempt $85,425
-
3 · Investment income
total $321,266 · excluded $321,266
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,000 · program services $2,000
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $382,723 · program services $287,042 · management and general $95,681
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $142,588 · program services $114,487 · management and general $28,101
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $102,019 · program services $76,514 · management and general $25,505
-
10 · Payroll taxes
total $25,437 · program services $19,078 · management and general $6,359
-
11a · Fees: management
total $370,766 · program services $266,700 · management and general $104,066
-
11b · Fees: legal
total $198,554 · program services $146,352 · management and general $52,202
-
11c · Fees: accounting
total $53,602 · program services $33,561 · management and general $20,041
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $22,590 · program services $22,590
-
12 · Advertising and promotion
total $357 · program services $357
-
13 · Office expenses
total $182,615 · program services $110,702 · management and general $71,913
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $47,039 · program services $35,279 · management and general $11,760
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $298,068 · program services $298,068
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $187,495 · program services $187,495
-
23 · Insurance
total $165,410 · program services $128,138 · management and general $37,272
-
24a · Other expenses: RENTAL EXPENSE FROM K-1
total $6,666,649 · program services $6,666,649
-
24b · Other expenses: REPAIRS AND MAINTENANCE
total $74,846 · management and general $74,846
-
24c · Other expenses: BAD DEBT
total $47,691 · program services $47,691
-
24d · Other expenses: DUES & SUBSCRIPTIONS
total $36,540 · program services $900 · management and general $35,640
-
24e · All other expenses
total $99,594 · program services $91,403 · management and general $8,191
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,091,598 · end of year $2,720,698
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $360,809 · end of year $2,640,870
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $1,350,000 · end of year $4,114,323
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $3,952 · end of year $50,403
-
10a · Land, buildings and equipment: cost or other basis
$13,951,706
-
10b · Land, buildings and equipment: accumulated depreciation
$4,710,816
-
10c · Land, buildings and equipment, net
beginning of year $9,422,658 · end of year $9,240,890
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $249,332,721 · end of year $325,397,227
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $33,973,509 · end of year $55,001,142
-
17 · Accounts payable and accrued expenses
beginning of year $352,370 · end of year $274,530
-
19 · Deferred revenue
beginning of year $803 · end of year $2,984
-
23 · Secured mortgages and notes payable
beginning of year $12,896,092 · end of year $20,250,750
-
25 · Other liabilities
beginning of year $245,959,996 · end of year $316,943,655
-
31 · Retained earnings, endowment or other funds
beginning of year $37,325,986 · end of year $61,693,634
Mission and programs · 2022
Mission
To promote and assist in the development and improvement of low-income housing in the United States, principally in the state of California.
-
The organization has developed 4,000 affordable housing units in 18 counties in California
Expenses $8,535,006 · Grants $2,000 · Revenue $19,870,052
As filed on the 2022 return.
Listed in Part VII
-
Lori KoesterLORI KOESTER
Executive Dir.
- Total calculated
- $382,723
- From this org
- $364,946
- From related orgs
- $0
- Other
- $17,777
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $364,946
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- $17,777
- Filer's total
- $382,723
-
John EleftheriouJOHN ELEFTHERIOU
CEO
- Total calculated
- $0
- Hours/week
- 1
-
Mike Ismail
Director
- Total calculated
- $0
- Hours/week
- 1
-
Rob TiddROB TIDD
Secretary
- Total calculated
- $0
- Hours/week
- 1
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 · 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.
-
OLIVERO RANCH LLC
RENTAL PROPERTY · CA · income $318,862 · assets $5,751,201
Directly controlled by CORPORATION FOR BETTER HOUSING
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
ATTACHED
RELATED · CA
Directly controlled by CORP FOR BETTER HSG
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313199349309911
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