Foundation For Affordable Housing Inc
- Assets
- $40.2m
- Revenue
- $24.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Bend, OR
- Founding
- 07/1990
- Data as of
- 12/2021
- EIN
- 33-0327936
Organization Overview
Foundation For Affordable Housing Inc is located in Bend, OR. The organization was established in 1990. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Foundation For Affordable Housing 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 12/2021, Foundation For Affordable Housing Inc generated $24.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.2% each year . All expenses for the organization totaled $10.9m during the year ending 12/2021. While expenses have increased by 25.1% 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 2014, Foundation For Affordable Housing Inc has awarded 13 individual grants totaling $1,932,723. 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
TO CREATE SAFE, COMFORTABLE, HIGH-QUALITY, AFFORDABLE HOMES FOR VERY-LOW INCOME SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING - PROVIDED 1,910 UNITS OF SAFE AND AFFORDABLE HOUSING FOR LOW INCOME SENIOR CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darrin Willard Director/president/voting | OfficerTrustee | 12 | $587,451 |
Mike Ristow Director | Trustee | 1 | $600 |
Deborrah Willard Secretary/treasurer/voting | Officer | 2 | $0 |
Jason Acosta Vice President | Officer | 8 | $0 |
Melissa Vincent Senior Vice President | Officer | 5 | $0 |
Shige Itoh Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Base Tactical Disaster Recovery Inc Casualty Repairs | 12/30/20 | $471,349 |
Wick Phillips Gould & Martin Llp Legal Services | 12/30/20 | $848,123 |
Sureharbor Llc Accounting Services | 12/30/20 | $384,000 |
Townsend Interiors Llc Interior Design | 12/30/20 | $116,649 |
Shipman & Wright Llp Legal Services | 12/30/20 | $187,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,423,311 |
| All other contributions, gifts, grants, and similar amounts not included above | $82 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,423,393 |
| Total Program Service Revenue | $2,507,906 |
| Investment income | $424,945 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,036 |
| Net Gain/Loss on Asset Sales | $19,729,150 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,103,430 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $24,900 |
| 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. | $581,476 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $308,971 |
| Pension plan accruals and contributions | $42,846 |
| Other employee benefits | $81,480 |
| Payroll taxes | $39,701 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $96,472 |
| Fees for services: Accounting | $67,374 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $885,086 |
| Advertising and promotion | $50,571 |
| Office expenses | $129,361 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $830,743 |
| Travel | $78,206 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,524,998 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,992,945 |
| Insurance | $320,036 |
| All other expenses | $3,250 |
| Total functional expenses | $10,921,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,550,989 |
| Savings and temporary cash investments | $6,344,814 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,708,091 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,239,692 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$252,196 |
| Intangible assets | $961,216 |
| Other assets | $7,634,356 |
| Total assets | $40,186,962 |
| Accounts payable and accrued expenses | $0 |
| 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 | $19,399,787 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $97,130 |
| Total liabilities | $19,496,917 |
| Net assets without donor restrictions | $0 |
| 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 | $20,690,045 |
| Total liabilities and net assets/fund balances | $40,186,962 |
Grants Awarded
Over the last fiscal year, Foundation For Affordable Housing Inc has awarded $125,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Sherman Oaks, CA PURPOSE: ANGEL FUND | $100,000 |
Bend, OR PURPOSE: GENERAL CONTRIBUTIONS PAID | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation For Affordable Housing Inc has recieved totaling $87.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $87 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marys Woods At Marylhurst Inc Lake Oswego, OR | $331,910,754 | $44,154,309 |
Mira Bella Seattle, WA | $187,904,464 | $31,331,607 |
Humangood Fresno Duarte, CA | $99,958,177 | $30,814,211 |
Mirabella At South Waterfront Portland, OR | $173,639,306 | $25,337,918 |
Humangood Nevada Duarte, CA | $70,139,943 | $27,024,940 |
Dallas Mennonite Retirement Community Inc Dallas, OR | $84,334,175 | $25,845,409 |
Humangood Idaho Duarte, CA | $92,297,372 | $17,990,575 |
Lutheran Retirement Home Of Greater Seattle Inc Seattle, WA | $84,207,346 | $21,992,663 |
Asian Pacific Health Care Venture Inc Los Angeles, CA | $31,429,576 | $29,795,515 |
Hollenbeck Palms Los Angeles, CA | $91,601,425 | $22,351,666 |
Foss Home & Villiage Seattle, WA | $15,479,734 | $20,550,514 |
899 Charleston Palo Alto, CA | $143,487,864 | $17,017,896 |