Network For Oregon Affordable Housing
- Assets
- $195.7m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 16
- Location
- Portland, OR
- Founding
- 01/1992
- Data as of
- 06/2022
- EIN
- 93-1037330
Organization Overview
Network For Oregon Affordable Housing is located in Portland, OR. The organization was established in 1992. 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 06/2022, Network For Oregon Affordable Housing employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Network For Oregon Affordable Housing 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 06/2022, Network For Oregon Affordable Housing generated $8.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $6.4m during the year ending 06/2022. While expenses have increased by 2.1% 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.
Since 2015, Network For Oregon Affordable Housing has awarded 35 individual grants totaling $2,314,173. 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
NOAH STRENGTHENS COMMUNITIES THROUGH FLEXIBLE FINANCING, STRATEGIC PARTNERSHIPS, AND CREATIVE SOLUTIONS THAT BUILD AND PRESERVE AFFORDABLE HOUSING IN OREGON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERMANENT LOAN PROGRAM:NOAH PROVIDES FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING IN THE STATE OF OREGON. DURING FISCAL YEAR 2021/2022, FOURTEEN (14) PERMANENT LOANS WERE CLOSED.THE TOTAL DOLLAR VALUE OF THESE LOANS WAS $34.8MM AND CREATED OR PRESERVED 748 UNITS OF HOUSING. IN ADDITION, ACTIVITY FOR THE YEAR INCLUDED SIXTEEN (16) COMMITMENTS TOTALING $37.2MM AND 552 UNITS AND ELEVEN (11) LOANS IN PROCESS WITH A VALUE OF $24MM.
PRESERVATION LOAN PROGRAM:THESE LOANS TARGET THE ACQUISITION AND PRESERVATION OF (1) FEDERALLY RENT-SUBSIDIZED UNITS THAT ARE AT RISK OF CONVERSION TO MARKET RATES, (2) PROPERTIES FOR CONVERSION TO AFFORDABLE, (3) MANUFACTURD HOME PARKS, AND (4) LAND IN DESIREABLE LOCATIONS TO PRESERVE FOR DEVELOPMENT OF AFFORDABLE HOUSING. DURING FISCAL YEAR 2021/2022, THERE WERE THREE (3) NEW LOANS MADE UNDER THIS LOAN PROGRAM WITH A TOTAL VALUE OF $11.5MM. IN ADDITION, ACTIVITY FOR THE YEAR INCLUDED WORK ON LOANS IN PROCESS OF $5.3MM. PREDEVELOPMENT LOAN PROGRAM:THESE LOANS PROVIDE CAPITAL FOR BOTH LAND ACQUISITION AND PREDEVELOPMENT ACTIVITES. DURING FISCAL YEAR 2021/2022, FIVE NEW LOANS WERE CLOSED UNDER THIS PROGRAM WITH A TOTAL VALUE OF $3.46MM AND THERE WERE THREE (3) LOANS IN PROCESS WITH A VALUE OF $4MM. OTHER/GAP LOANS: THESE LOANS PROVIDE NOAH FLEXIBLE CAPITAL FOR LOANS NOT APPROPRIATE FOR BANK-SOURCE FUNDING. THREE (3) OTHER/GAP LOANS WERE CLOSED DURING FISCAL YEAR 2021/2022. THE TOTAL DOLLAR VALUE OF THE LOANS WAS $2.24MM AND 160 UNITS OF AFFORDABLE HOUSING WERE FINANCED.
MPOWER OREGON:NOAH IS SOLE MEMBER OF MPOWER OREGON LLC. MPOWER OFFERS AN INTEGRATED SOLUTION FOR LOWERING ENERGY AND WATER EXPENSES AT EXISTING AFFORDABLE MULTIFAMILY PROPERTIES THROUGH LOANS AND GRANTS. MPOWER DELIVERS IMMEDIATE SAVINGS TO OWNERS AND OCCUPANTS THROUGH PROJECT MANAGEMENT OF BUILDING UPGRADES AND ONGOING TECHNICAL SUPPORT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William A Van Vliet Executive Director | Officer | 38 | $227,107 |
Ann Remmers Deputy Director/director Of Lending | 40 | $183,721 | |
Cynthia Barber Director Of Finance & Admin | 40 | $149,716 | |
Rachel Bidou Senior Relationship Manager | 40 | $126,324 | |
Robert Prasch Preservation Director | 40 | $114,399 | |
Elizabeth Boylston Senior Loan Closing And Compliance Officer | 30 | $105,720 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,896,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $106,483 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,002,883 |
| Total Program Service Revenue | $6,085,095 |
| Investment income | $12,489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $447,781 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,548,248 |
| 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. | $280,347 |
| Compensation of current officers, directors, key employees. | $97,186 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $972,757 |
| Pension plan accruals and contributions | $104,421 |
| Other employee benefits | $95,145 |
| Payroll taxes | $137,796 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,501 |
| Fees for services: Accounting | $47,286 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $85,376 |
| Advertising and promotion | $0 |
| Office expenses | $81,063 |
| Information technology | $80,930 |
| Royalties | $0 |
| Occupancy | $73,782 |
| Travel | $2,632 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,153 |
| Interest | $3,526,801 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,487 |
| Insurance | $108,850 |
| All other expenses | $48,219 |
| Total functional expenses | $6,417,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,530,615 |
| Savings and temporary cash investments | $19,862,925 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $56,567 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $169,631,811 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $472,156 |
| Net Land, buildings, and equipment | $17,025 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,083,394 |
| Total assets | $195,654,493 |
| Accounts payable and accrued expenses | $479,255 |
| Grants payable | $0 |
| Deferred revenue | $1,529,558 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,037,239 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $149,539,839 |
| Unsecured mortgages and notes payable | $17,500,000 |
| Other liabilities | $87,064 |
| Total liabilities | $172,172,955 |
| Net assets without donor restrictions | $23,481,538 |
| 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 | $195,654,493 |
Grants Awarded
Over the last fiscal year, Network For Oregon Affordable Housing has awarded $412,668 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: ENERGY EFFICIENCY, ENERGY HEALTH AND ENERGY GREENING MEASURES. | $159,334 |
Chicago, IL PURPOSE: ENERGY EFFICIENCY, ENERGY HEALTH AND ENERGY GREENING MEASURES. | $159,334 |
Portland, OR PURPOSE: INSTALLATION OF PHTOVOLTAIC ARRAY AT TRANSITION PROJECTS. | $35,000 |
Portland, OR PURPOSE: INSTALLATION OF PHTOVOLTAIC ARRAY AT TRANSITION PROJECTS. | $35,000 |
Portland, OR PURPOSE: GRANT FOR TENANT UNIT METERS ON COLD WATER PIPES. | $12,000 |
Portland, OR PURPOSE: GRANT FOR TENANT UNIT METERS ON COLD WATER PIPES. | $12,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Network For Oregon Affordable Housing has recieved totaling $222,859.
| Awarding Organization | Amount |
|---|---|
Meyer Memorial Trust Portland, OR PURPOSE: TO SUPPORT ONGOING AFFORDABLE HOUSING PRESERVATION EFFORTS AND ADMINISTRATION OF THE OREGON HOUSING ACQUISITION FUND | $92,500 |
Meyer Memorial Trust Portland, OR PURPOSE: TO SUPPORT ONGOING AFFORDABLE HOUSING PRESERVATION EFFORTS AND ADMINISTRATION OF THE OREGON HOUSING ACQUISITION FUND | $92,500 |
Meyer Memorial Trust Portland, OR PURPOSE: TO STRENGTHEN A COORDINATED STATEWIDE PEER NETWORK FOCUSED ON THE PRESERVATION OF MANUFACTURED HOUSING IN OREGON | $37,609 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eden Investments Inc Hayward, CA | $35,016,313 | $30,534,205 |
Turk Street Inc San Francisco, CA | $36,581,577 | $10,576,295 |
A Community Of Friends Los Angeles, CA | $60,441,352 | $19,454,068 |
Oregon Coast Community Action Coos Bay, OR | $16,109,030 | $18,585,692 |
Abode Communities Los Angeles, CA | $48,420,643 | $18,096,266 |
Habitat For Humanity Portland Metro East Portland, OR | $35,667,707 | $17,313,274 |
Vista Del Monte Affordable Housing Inc Keene, CA | $19,598,964 | $14,888,615 |
Rubicon Programs Inc Richmond, CA | $13,905,498 | $18,401,820 |
Sacramento Self-Help Housing Inc Sacramento, CA | $3,575,796 | $15,208,752 |
The Mortgage Capital Development Company Oakland, CA | $77,426,961 | $21,275,511 |
Century Housing Corporation Culver City, CA | $579,661,365 | $33,491,484 |
Oregon Affordable Housing Assistance Corporation Salem, OR | $27,410,918 | $14,226,353 |