Burbank Housing Development Corporation
- Assets
- $103.5m
- Revenue
- $16.3m
- Investments
- $0.0
- Employees
- 25
- Location
- Santa Rosa, CA
- Founding
- 11/1983
- Data as of
- 12/2021
- EIN
- 94-2837785
Organization Overview
Burbank Housing Development Corporation is located in Santa Rosa, CA. The organization was established in 1983. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Burbank Housing Development Corporation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Burbank Housing Development Corporation 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 12/2021, Burbank Housing Development Corporation generated $16.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $17.0m during the year ending 12/2021. While expenses have increased by 16.3% 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.
Since 2015, Burbank Housing Development Corporation has awarded 12 individual grants totaling $2,751,595. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BURBANK HOUSING IS A LOCAL NON-PROFIT ORGANIZATION DEDICATED TO INCREASING THE SUPPLY OF HOUSING IN SONOMA AND NAPA COUNTY, SO THAT LOW-INCOME PEOPLE OF ALL AGES, BACKGROUNDS AND SPECIAL NEEDS WILL HAVE A BETTER OPPORTUNITY TO LIVE IN DECENT AND AFFORDABLE HOUSING. THE ORGANIZATION'S MOST SIGNIFICANT ACTIVITIES INCLUDE MANAGEMENT OF AFFORDABLE HOUSING, THE REHABILITATION OF EXISTING HOUSING AND THE DEVELOPMENT OF SELF-HELP HOMEOWNERSHIP HOUSING IN SONOMA COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OWNS AND OPERATES APARTMENT PROPERTIES FOR LOW-INCOME FAMILIES, ELDERLY AND HANDICAPPED PERSONS. THE ORGANIZATION ALSO PROVIDES COMMUNITY DEVELOPMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrance Florin CEO | Officer | 25 | $287,176 |
Karen Massey Project Manager | 40 | $241,240 | |
Benjamin Wickham COO | Officer | 25 | $199,586 |
Richard Wallach Senior Director Of Housing Finance And Business De | 40 | $191,601 | |
Efren Carrillo Vice President Of Residential Development | 40 | $174,536 | |
Larry Boughton Construction Manager | Officer | 40 | $163,705 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robyn Janelle Van Ekelenburg Consulting | 12/30/21 | $109,814 |
David Marden Architect | 12/30/21 | $1,087,621 |
Michael A Cambra Painting | 12/30/21 | $166,880 |
Terr M Steele Construction Supply | 12/30/21 | $160,551 |
Jeffery D Garrigan Construction | 12/30/21 | $148,605 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,804,445 |
| Government grants | $1,284,540 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,127,387 |
| Noncash contributions included in lines 1a–1f | $4,308,685 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,216,372 |
| Total Program Service Revenue | $10,101,056 |
| Investment income | $622,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,677,959 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,261,747 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,500 |
| 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. | $898,223 |
| Compensation of current officers, directors, key employees. | $898,223 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,850,768 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $182,066 |
| Payroll taxes | $166,460 |
| Fees for services: Management | $321,239 |
| Fees for services: Legal | $377,197 |
| Fees for services: Accounting | $97,379 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $651 |
| 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 | $36,457 |
| Interest | $2,085,755 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,859,846 |
| Insurance | $0 |
| All other expenses | $859,846 |
| Total functional expenses | $16,992,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,266,486 |
| Savings and temporary cash investments | $5,534,414 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,031,345 |
| 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 | $278,412 |
| Net Land, buildings, and equipment | $48,580,715 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$22,455,102 |
| Intangible assets | $0 |
| Other assets | $44,224,349 |
| Total assets | $103,460,619 |
| Accounts payable and accrued expenses | $7,173,330 |
| 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 | $54,482,542 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,577,863 |
| Total liabilities | $75,233,735 |
| Net assets without donor restrictions | $25,180,083 |
| Net assets with donor restrictions | $3,046,801 |
| 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 | $103,460,619 |
Grants Awarded
Over the last fiscal year, Burbank Housing Development Corporation has awarded $22,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Sacramento, CA PURPOSE: TO SUPPORT THE ORGANIZATION INVOLVED IN AFFORDABLE HOUSING. | $12,000 |
San Francisco, CA PURPOSE: TO SUPPORT THE ORGANIZATION INVOLVED IN AFFORDABLE HOUSING. | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Burbank Housing Development Corporation has recieved totaling $586,000.
| Awarding Organization | Amount |
|---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: ACQUISITION AND REHAB OF AFFORDABLE HOUSING | $336,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Episcopal Communities & Services For Seniors Monrovia, CA | $210,406,101 | $54,393,007 |
Area Housing Authority Of County Of Ventura Newbury Park, CA | $51,199,286 | $45,374,355 |
Eah Inc San Rafael, CA | $269,353,281 | $53,747,905 |
Tenderloin Neighborhood Development Corporation San Francisco, CA | $105,200,928 | $42,280,090 |
Eden Housing Inc Hayward, CA | $420,059,670 | $90,990,309 |
Midpen Housing Corporation Foster City, CA | $279,122,902 | $50,937,724 |
Cesar Chavez Foundation Keene, CA | $206,528,631 | $52,041,546 |
Pico-Union Housing Corporation Los Angeles, CA | $136,637,775 | $17,120,613 |
Northwest Housing Alternatives Inc Milwaukie, OR | $66,415,282 | $18,428,543 |
Burbank Housing Development Corporation Santa Rosa, CA | $103,460,619 | $16,261,747 |
Coachella Valley Housing Coalition Indio, CA | $146,778,624 | $17,127,596 |
Community Corporation Of Santa Monica Santa Monica, CA | $197,338,615 | $17,598,823 |