C A R Housing Affordability Fund
- Assets
- $1.6m
- Revenue
- $490.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 07/2002
- Data as of
- 12/2022
- EIN
- 91-2157935
Organization Overview
C A R Housing Affordability Fund is located in Los Angeles, CA. The organization was established in 2002. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. C A R Housing Affordability Fund 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 12/2022, C A R Housing Affordability Fund generated $490.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, C A R Housing Affordability Fund has awarded 58 individual grants totaling $3,714,999. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RAISE AND DISTRIBUTE FUNDS AND PARTNER WITH OTHER GROUPS TO PROMOTE HOUSING AND HOMEOWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $1,149,999 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 2022, C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $150,000 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES.GRANTS TO INDIVIDUALS=====================DURING 2022, C.A.R.'S CLOSING COST ASSISTANCE GRANT PROGRAM PROVIDED $999,999 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 CA REALTOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol M Luckenbach Chair | OfficerTrustee | 2.5 | $0 |
Denise G Welsh Vice Chair | OfficerTrustee | 2.5 | $0 |
Melissa B Chelius Vice Chair | OfficerTrustee | 2.5 | $0 |
Shauna Love Assn. Exec. (voting) | Trustee | 2.5 | $0 |
Beth A Flure Member | Trustee | 2.5 | $0 |
Chuck Linn Member | Trustee | 2.5 | $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 | $438,255 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $438,255 |
| Total Program Service Revenue | $0 |
| Investment income | $47,752 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,122 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $490,129 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,149,999 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $145,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,814 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,305,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,830 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,449,550 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,619,380 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $104,550 |
| 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 | $10 |
| Total liabilities | $104,560 |
| Net assets without donor restrictions | $1,514,820 |
| 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 | $1,619,380 |
Grants Awarded
Over the last fiscal year, C A R Housing Affordability Fund has awarded $1,149,999 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
LODI ASSOCIATION OF REALTORS PURPOSE: PROGRAM THAT WILL AWARD $1,000 AFTER CLOSE OF ESCROW TO INDIVIDUALS WHO QUALIFY AS A HERO. AIMED AT OUR MILITARY, VETERANS, POLICE, FIREFIGHTERS, DOCTORS, NURSES, EMT-EMS, AND EDUCATORS. | $50,000 |
CENTRAL VALLEY ASSOCIATION OF REALTORS PURPOSE: PROGRAM THAT WILL OFFER FIFTY $1,000 GRANTS IN CLOSING COSTS TO FIRST TIME HOMEBUYERS WHO ARE TEACHERS OR FIRST RESPONDERS WHEN THEY PURCHASE A HOME IN THE STANISLAUS AND SAN JOAQUIN | $50,000 |
CONEJO SIMI MOORPARK ASSOCIATION OF REALTORS PURPOSE: A PROGRAM TO OFFER $2,500 GRANTS TO 40 QUALIFIED FIRST-TIME HOMEBUYERS (AFTER CLOSING ESCROW ON THEIR PURCHASED A QUALIFIED PROPERTY) | $50,000 |
NEIGHBORHOOD PARTNERSHIP HOUSING SERVICE PURPOSE: THE PATHWAY TO HOMEOWNERSHIP CLOSING COST ASSISTANCE GRANT PROGRAMHELPS FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO$10,000IN 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. | $333,333 |
NHS NEIGHBORHOOD LENDING SERVICE PURPOSE: THE PATHWAY TO HOMEOWNERSHIP CLOSING COST ASSISTANCE GRANT PROGRAMHELPS FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO$10,000IN 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. | $333,333 |
RICHMOND NEIGHBORHOOD HOUSING PURPOSE: THE PATHWAY TO HOMEOWNERSHIP CLOSING COST ASSISTANCE GRANT PROGRAMHELPS FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO$10,000IN 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. | $333,333 |