Hip Housing Affordable Ventures Inc Hhav
- Assets
- $2.3m
- Revenue
- $860.9k
- Investments
- $0.0
- Employees
- 20
- Location
- San Mateo, CA
- Founding
- 02/1998
- Data as of
- 06/2023
- EIN
- 91-1868360
Organization Overview
Hip Housing Affordable Ventures Inc Hhav is located in San Mateo, CA. The organization was established in 1998. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Hip Housing Affordable Ventures Inc Hhav employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hip Housing Affordable Ventures Inc Hhav is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Hip Housing Affordable Ventures Inc Hhav generated $860.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.6% each year . All expenses for the organization totaled $984.5k during the year ending 06/2023. While expenses have increased by 11.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BENEFIT AND SUPPORT HUMAN INVESTMENT PROJECT, INC., A RELATED CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, AND ITS EXEMPT PURPOSE OF IMPROVING HOUSING AND LIVES OF PEOPLE IN ITS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES LOW COST CONSULTING, MANAGEMENT, ADVISORY, AND OTHER HOUSING RELATED SERVICES FOR HOUSING PROJECTS SERVING LOW-INCOME HOUSEHOLDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Comfort Harr Executive Dir. | Officer | 2 | $0 |
Ghion Dessie Controller | Officer | 2 | $0 |
Steven Mcdonald VP - Prop Mgmt | 40 | $149,837 | |
Barbara Jabba Dir-Comp&bus Dev | 40 | $123,337 | |
Meris Ota President | OfficerTrustee | 0.5 | $0 |
Joshua Amoroso Vice President | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $811,345 |
| Investment income | $49,551 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $860,896 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $581,973 |
| Pension plan accruals and contributions | $29,286 |
| Other employee benefits | $39,010 |
| Payroll taxes | $76,590 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $324 |
| Fees for services: Accounting | $11,659 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,239 |
| Advertising and promotion | $8,378 |
| Office expenses | $42,094 |
| Information technology | $27,449 |
| Royalties | $0 |
| Occupancy | $28,200 |
| Travel | $16,065 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,954 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,167 |
| Insurance | $16,946 |
| All other expenses | $2,505 |
| Total functional expenses | $984,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,057 |
| Savings and temporary cash investments | $9,783 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,715 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,960,681 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,365 |
| Net Land, buildings, and equipment | $92,844 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $106,195 |
| Total assets | $2,285,640 |
| Accounts payable and accrued expenses | $155,365 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $70,374 |
| Total liabilities | $225,739 |
| Net assets without donor restrictions | $2,059,901 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,285,640 |
Grants Awarded
Over the last fiscal year, Hip Housing Affordable Ventures Inc Hhav has awarded $887,001 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HUMAN INVESTMENT PROJECT INC PURPOSE: PROVIDE AFFORDABLE HOUSING OPPORTUNITIES TO SAN MATEO COUNTY LOW AND MIDDLE INCOME RESIDENTS. | $409,001 |
HIP HOUSING DEVELOPMENT CORPORATION PURPOSE: PROVIDE SAFE AND AFFORDABLE HOUSING FOR LOW- TO MODERATE-INCOME PERSONS AND FAMILIES. | $478,000 |