Affordable Housing Access Inc
- Assets
- $80.5m
- Revenue
- $14.9m
- Investments
- $0.0
- Employees
- 13
- Location
- Newport Beach, CA
- Founding
- 05/2000
- Data as of
- 12/2023
- EIN
- 31-1682049
Organization Overview
Affordable Housing Access Inc is located in Newport Beach, CA. The organization was established in 2000. 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 12/2023, Affordable Housing Access Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Affordable Housing Access Inc 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 12/2023, Affordable Housing Access Inc generated $14.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $14.8m during the year ending 12/2023. While expenses have increased by 9.1% 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 2017, Affordable Housing Access Inc has awarded 106 individual grants totaling $5,011,400. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ALLEVIATE THE CRITICAL SHORTAGE OF AFFORDABLE HOUSING OPPORTUNITIES FOR LOW/MODERATE INCOME, HANDICAPPED AND ELDERLY PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES AFFORDABLE HOUSING FOR LOW-INCOME PERSONS AND SERVES AS AN OWNER OR GENERAL PARTNER OF LIMITED PARTNERSHIPS OR JOINT VENTURES THAT OWN AFFORDABLE HOUSING FOR THE BENEFIT OF LOW-INCOME PERSONS. THEY ALSO PROVIDE SOCIAL SERVICE OUTREACH VENTURES AIMED AT EMPOWERING BOTH LOW-INCOME INDIVIDUALS AND THEIR COMMUNITIES. AS AN INDICATION OF ITS SUCCESS, THE ORGANIZATION HAS OWNERSHIP OR BENEFICIAL INTERESTS IN 21,959 DWELLING UNITS IN 179 SEPARATE HOUSING COMMUNITIES THROUGHOUT CALIFORNIA, ARIZONA, FLORIDA, OHIO, OREGON, TEXAS, AND WASHINGTON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William W Hirsch Director/chief Executive Officer | OfficerTrustee | 40 | $729,371 |
Vasilios Salamandrakis President | Officer | 40 | $527,357 |
Shawn R Boyd Chief Investment Officer/exec. VP | Officer | 40 | $485,549 |
Hilda L Jusuf Chief Financial Officer/secretary | Officer | 40 | $445,832 |
Scott S Stephens Vice President, Asset Management | Officer | 40 | $237,188 |
Jonathan B Webb Director/chief Philanthropy Officer | OfficerTrustee | 40 | $223,810 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $802,761 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $823,761 |
| Total Program Service Revenue | $5,232,738 |
| Investment income | $775,267 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,917,534 |
| Net Gain/Loss on Asset Sales | $989,602 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,898,145 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $836,025 |
| Grants and other assistance to domestic individuals. | $40,545 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,223,145 |
| Compensation of current officers, directors, key employees. | $342,969 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,339,200 |
| Pension plan accruals and contributions | $221,970 |
| Other employee benefits | $298,331 |
| Payroll taxes | $204,752 |
| Fees for services: Management | $289,165 |
| Fees for services: Legal | $407 |
| Fees for services: Accounting | $239,497 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,285 |
| Fees for services: Other | $518,665 |
| Advertising and promotion | $24,872 |
| Office expenses | $790,716 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,225,499 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,216,643 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,417,412 |
| Insurance | $592,138 |
| All other expenses | $0 |
| Total functional expenses | $14,772,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,114,319 |
| Savings and temporary cash investments | $658,242 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,791,288 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,995,886 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $404,238 |
| Net Land, buildings, and equipment | $45,119,262 |
| Investments—publicly traded securities | $8,906,254 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,536,488 |
| Total assets | $80,525,977 |
| Accounts payable and accrued expenses | $4,935,228 |
| Grants payable | $0 |
| Deferred revenue | $27,540 |
| 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 | $44,326,644 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $802,969 |
| Total liabilities | $50,092,381 |
| Net assets without donor restrictions | $30,433,596 |
| 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 | $80,525,977 |
Grants Awarded
Over the last fiscal year, Affordable Housing Access Inc has awarded $748,458 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF HUNTINGTON VALLEY PURPOSE: GENERAL SUPPORT | $10,000 |
BRACKEN'S KITCHEN PURPOSE: GENERAL SUPPORT | $40,000 |
CASA TERESA PURPOSE: GENERAL SUPPORT | $10,000 |
COMMUNITY ENGAGEMENT INC PURPOSE: GENERAL SUPPORT | $132,500 |
EMPOWER YOLO PURPOSE: GENERAL SUPPORT | $10,000 |
FRIENDS OF THE ISRAEL DEFENSE FORCES PURPOSE: GENERAL SUPPORT | $7,000 |