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← C A R HOUSING AFFORDABILITY FUND

Form 990 for tax year 2023

Filed by C A R HOUSING AFFORDABILITY FUND.

Totals

Total revenue
$420,324
Total expenses
$1,349,763
Contributions and grants received
$434,309
Grants paid
$1,225,000
Program service revenue
$0
Investment income
-$13,985
Other revenue
$0
Total assets, end of year
$765,533
Total liabilities, end of year
$89,957
Net assets or fund balances, end of year
$675,576
Program services expenses (Part IX)
$1,225,000
Management and general expenses
$124,763
Fundraising expenses
$0
Program service expenses (Part III)
$1,225,000

Program services were 90.8% 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

    $434,309

  • 3 · Investment income

    total $36,107 · excluded $36,107

  • 7a · Gross sales of assets other than inventory

    securities $1,076,092

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

    securities $1,126,184

  • 7c · Gain or loss

    securities -$50,092

  • 7d · Net gain or loss

    total -$50,092 · excluded -$50,092

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,225,000 · program services $1,225,000

  • 11a · Fees: management

    total $115,500 · management and general $115,500

  • 11f · Fees: investment management

    total $2,383 · management and general $2,383

  • 24a · Other expenses: BANK CHARGES

    total $6,780 · management and general $6,780

  • 24b · Other expenses: LICENSES AND FEES

    total $100 · management and general $100

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $169,830 · end of year $242,157

  • 11 · Investments: publicly traded securities

    beginning of year $1,449,550 · end of year $523,376

  • 19 · Deferred revenue

    beginning of year $104,550 · end of year $89,957

  • 25 · Other liabilities

    beginning of year $10 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,514,820 · end of year $675,576

Mission and programs · 2023

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 $1,225,000 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 2023, C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $225,000 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES.GRANTS TO INDIVIDUALS=====================DURING 2023, C.A.R.'S PATHWAY TO HOME CLOSING COST ASSISTANCE GRANT PROGRAM PROVIDED $1,000,000 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 CALIFORNIA REALTOR.

    Expenses $1,225,000 · Grants $1,225,000

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

Listed in Part VII

  • Denise G Welsh

    CHAIR

    Total calculated
    $5,900
    From this org
    $0
    From related orgs
    $5,900
    Other
    $0
    Hours/week
    2.5

  • Beth A Flure

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • Frank Oti

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • Shauna Love

    ASSN. EXEC. (VOTING)

    Total calculated
    $0
    Hours/week
    2.5

  • Carol M Luckenbach

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Chuck Linn

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Derik Dami

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Janine Nielsen

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Judith Myers

    MEMBER

    Total calculated
    $5,900
    From this org
    $0
    From related orgs
    $5,900
    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

  • Natalie Garrick

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Nila Alvidrez

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Sher Heard

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Susan Marshall

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Taffy Maurer

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Iqbal Bholat

    TREASURER

    Total calculated
    $295,725
    From this org
    $0
    From related orgs
    $248,451
    Other
    $47,274
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $216,161 related
    Bonus
    $0 + $25,808 related
    Other
    $0 + $6,482 related
    Deferred
    $0 + $33,056 related
    Nontaxable benefits
    $0 + $14,218 related
    Filer's total
    $0 + $295,725 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

None.

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

The filer's explanations (Part III)

PART I LINE 3
THE ORGANIZATION PAYS NO COMPENSATION TO ANY OF IT BOARD OR OFFICERS. ALL COMPENSATION REPORTED IN FORM 990, PART VII, SECTION A IS PAID BY A RELATED ORGANIZATIONS, CALIFORNIA ASSOCIATION OF REALTORS, FOR SERVICES PROVIDED TO CALIFORNIA ASSOCIATION OF REALTORS.

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

  • NEIGHBORHOOD PARTNERSHIP HOUSING SERVICE

    $1,000,000

    HELPS 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.

  • CALVERAS COUNTY AOR

    $50,000

    THE "LOVE IT HERE, WORK HERE, LIVE HERE" GRANT PROGRAM DESIGNED TO HELP PUBLIC SERVANTS PURCHASE THEIR FIRST HOME. THE PROGRAM WILL PROVIDE 50 QUALIFIED FIRST-TIME HOMEBUYER(S) $1,000.00 TO HELP WITH HOUSING EXPENSES.

  • DELTA AOR REALTOR COMMUNITY SERVICE FOUNDATION

    $50,000

    THE PROGRAM WILL PROVIDE QUALIFIED FIRST-TIME HOMEBUYER(S) WITH UP TO $5,000 IN CLOSING COST ASSISTANCE.

  • SOLANO COUNTY AOR

    $50,000

    CLOSING COST ASSISTANCE PROGRAM TO BE USED FOR FIRST TIME HOME BUYERS' CLOSING COSTS, RATE BUY-DOWN, DOWN PAYMENT ASSISTANCE, AND NECESSARY REPAIRS REQUIRED FOR ESCROW TO CLOSE. ASSISTANCE WILL BE ALLOTTED IN INCREMENTS OF $5,000.

  • NORTHERN SOLANO AOR

    $50,000

    BRIDGING THE GAP TO HOME OWNERSHIP TO PROVIDE $1000 GRANTS TO FIRST-TIME HOME BUYERS WHO PURCHASE THEIR HOME IN SOLANO COUNTY.

  • NEVADA COUNTY ASSOCIATION OF REALTORS

    $25,000

    REACTIVATE THE PROGRAM THAT WILL OFFERS $1000 GRANTS FOR A FIRE INSURANCE PREMIUM TO FIRST TIME HOME BUYERS

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 REAL ESTATE 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 · NAME PROTECTION · CA

  • CAR CO CALIFORNIA ASSOC OF REALTORS

    C · REALTOR SERVICES · CA

  • FINOM

    C · REALTOR SERVICES · CA

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423189349301407

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