Corporate Fund For Housing
- Assets
- $62.5m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 09/1990
- Data as of
- 12/2021
- EIN
- 95-3935881
Organization Overview
Corporate Fund For Housing is located in Long Beach, CA. The organization was established in 1990. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corporate Fund For 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 12/2021, Corporate Fund For Housing generated $9.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $8.4m during the year ending 12/2021. While expenses have increased by 0.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF SENIOR AND LOW INCOME AFFORDABLE HOUSING TO NEEDY INDIVIDUALS. CORPORATE FUND FOR HOUSING IS AN OWNER OF A MOBILE HOME PARK PROVIDING AFFORDABLE HOUSING IN FURTHERANCE OF ITS PURPOSE TO LESSEN THE BURDENS OF GOVT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF SENIOR AND LOW INCOME AFFORDABLE HOUSING TO NEEDY INDIVIDUALS. CORPORATE FUND FOR HOUSING IS AN OWNER OF A MOBILE HOME PARK PROVIDING AFFORDABLE HOUSING IN FURTHERANCE OF ITS PURPOSE TO LESSEN THE BURDENS OF GOVT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Garcia President | OfficerTrustee | 0.02 | $0 |
Susie Powers Secretary | OfficerTrustee | 0.04 | $0 |
Elaine Winer Treasurer | OfficerTrustee | 0.02 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Residential Group Inc Property Management | 12/30/21 | $176,178 |
Core1 Security Services Security | 12/30/21 | $283,328 |
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 | $8,669,059 |
| Investment income | $328,778 |
| 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 | $8,997,837 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,683 |
| 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 | $282,880 |
| Fees for services: Legal | $822 |
| Fees for services: Accounting | $141,919 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $950 |
| Office expenses | $52,131 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,172,806 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,926,855 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $297,611 |
| Insurance | $174,838 |
| All other expenses | $83,461 |
| Total functional expenses | $8,368,177 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $399,836 |
| Savings and temporary cash investments | $4,956,809 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,457 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,006,995 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $410,623 |
| Net Land, buildings, and equipment | $39,875,107 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,957,999 |
| Intangible assets | $0 |
| Other assets | $867,614 |
| Total assets | $62,505,440 |
| Accounts payable and accrued expenses | $415,894 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $48,615,101 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,091 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,611,222 |
| Total liabilities | $55,655,308 |
| Net assets without donor restrictions | -$7,221,644 |
| Net assets with donor restrictions | $14,071,776 |
| 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 | $62,505,440 |
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 |