Venice Community Housing Corporation
- Assets
- $25.3m
- Revenue
- $9.1m
- Investments
- $0.0
- Employees
- 75
- Location
- Venice, CA
- Founding
- 05/1993
- Data as of
- 12/2021
- EIN
- 95-4200761
Organization Overview
Venice Community Housing Corporation is located in Venice, CA. The organization was established in 1993. 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, Venice Community Housing Corporation employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venice Community Housing 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, Venice Community Housing Corporation generated $9.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $5.1m during the year ending 12/2021. While expenses have increased by 4.2% 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
LOW-INCOME HOUSING DEVELOPMENT AND MANAGEMENT. SOCIAL SERVICES,JOB TRAINING AND EDUCATION FOR AT RISK YOUTH AND LOW INCOME CONSTITUENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW-INCOME HOUSING DEVELOPMENT:DEVELOPMENT, DESIGN, REHABILITATION, REPAIR, MANAGEMENT AND COORDINATION OF FINANCING FOR THE DEVELOPMENT AND OPERATION OF LOW-INCOME HOUSING, INCLUDING PROVIDING INTENSIVE SOCIAL SERVICE PROGRAMS TO SUPPORT TENANTS. THE AGENCY HAS DEVELOPED AND IS MANAGING 245 UNITS OF LOW-INCOME HOUSING AND HAS 304 NEW UNITS IN THE DEVELOPMENT PIPELINE, WITH 35 OF THOSE CURRENTLY UNDER CONSTRUCTION. SOCIAL SERVICES HELP TO ENSURE LONG-TERM, HEALTHY AND STABLE HOUSING, WITH A TENANT STABILITY RATE OF OVER 95 PERCENT.
YOUTH DEVELOPMENT PROGRAMS, INCLUDING JOB TRAINING AND EDUCATION:PROGRAMMING FOCUSED ON SECURING A HIGH SCHOOL DIPLOMA, VOCATIONAL TRAINING AND CERTIFICATION IN CONSTRUCTION OR MEDICAL CODING AND BILLING, TRANSITIONAL HOUSING AND LEADERSHIP AND LIFE SKILLS FOR OVER 50 LOW-INCOME AND/OR UNHOUSED YOUTH BETWEEN THE AGES OF 18 AND 24 YEARS OLD. ADDITIONAL EDUCATION AND GANG-PREVENTION PROGRAMMING, AND FAMILY SUPPORTS FOR OVER 50 LOW-INCOME ELEMENTARY AGED CHILDREN. PROVIDED EMERGENCY COVID-RELATED SUPPORT AND SUPPLIES TO OVER 500 LOW-INCOME PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allison Riley Sr Dir Hsg Devl | 40 | $135,353 | |
Erika Lee Deputy Director | 40 | $106,760 | |
Rebecca Dennison Executive Dir. | Officer | 40 | $104,967 |
Paola Fontana Sr. Director Of Op | 40 | $102,389 | |
Myrna Bohan Develop. Director | 40 | $89,499 | |
Sophia Guel-Valenzuela Secretary | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kevin Daly Architects Inc Architectual Services | 12/30/21 | $135,395 |
Rdc-s111--rdc-s111 Inc Architecture & Constructi | 12/30/21 | $286,884 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $315,405 |
| Related organizations | $0 |
| Government grants | $1,983,710 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,377,516 |
| Noncash contributions included in lines 1a–1f | $1,850,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,676,631 |
| Total Program Service Revenue | $3,467,028 |
| Investment income | $5,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$84,714 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,064,852 |
| 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. | $110,500 |
| Compensation of current officers, directors, key employees. | $17,608 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,212,835 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $159,320 |
| Payroll taxes | $193,195 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,940 |
| Fees for services: Accounting | $154,718 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,466 |
| Advertising and promotion | $34,652 |
| Office expenses | $95,483 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $211,991 |
| Travel | $1,295 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,047 |
| Interest | $294,957 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $216,600 |
| Insurance | $250,952 |
| All other expenses | $433,519 |
| Total functional expenses | $5,138,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,852,604 |
| Savings and temporary cash investments | $2,577,257 |
| Pledges and grants receivable | $431,959 |
| Accounts receivable, net | $474,539 |
| 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 | $40,559 |
| Net Land, buildings, and equipment | $10,852,587 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,579,231 |
| Intangible assets | $0 |
| Other assets | $6,442,924 |
| Total assets | $25,251,660 |
| Accounts payable and accrued expenses | $270,672 |
| Grants payable | $0 |
| Deferred revenue | $251,261 |
| 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 | $15,920,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,365,389 |
| Total liabilities | $17,807,822 |
| Net assets without donor restrictions | $5,502,102 |
| Net assets with donor restrictions | $1,941,736 |
| 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 | $25,251,660 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Venice Community Housing Corporation has recieved totaling $685,659.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $554,000 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: CREATING/PRESERVING AFFORDABLE HOUSING/EXPAND EARLY LEARNING CENTERS | $41,166 |
Century Housing Corporation Culver City, CA PURPOSE: EVENT DONATION | $30,000 |
Social Venture Partners Los Angeles Inc Los Angeles, CA PURPOSE: 2021 Supporting Frontline Workers Grant | $26,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $11,171 |
J2 Foundation Los Angeles, CA PURPOSE: PUBLIC SUPPORT OF ORGANIZATION MISSION | $8,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
La Cooperativa Campesina De California Sacramento, CA | $2,765,549 | $15,334,359 |
Peoples Self-Help Housing Corporation San Luis Obispo, CA | $133,211,546 | $24,033,272 |
Eden Housing Management Inc Hayward, CA | $4,182,332 | $13,392,435 |
Hale Mahaolu Kahului, HI | $62,797,850 | $14,655,033 |
Southern California Housing Development Corporation Of Rancho Cucamonga, CA | $47,199,427 | $11,969,013 |
Equality Community Housing Corporation Glendale, AZ | $43,109,186 | $12,960,879 |
Mission Housing Development Corp San Francisco, CA | $63,790,844 | $19,251,297 |
Santa Barbara Affordable Housing Group Santa Barbara, CA | $111,093,068 | $10,555,389 |