Riverside Housing Development Corporation
- Assets
- $36.3m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 38
- Location
- Riverside, CA
- Founding
- 03/1996
- Data as of
- 06/2022
- EIN
- 33-0468093
Organization Overview
Riverside Housing Development Corporation is located in Riverside, CA. The organization was established in 1996. 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 06/2022, Riverside Housing Development Corporation employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside 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 06/2022, Riverside Housing Development Corporation generated $4.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $4.6m during the year ending 06/2022. While expenses have increased by 3.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZED FOR THE DEVELOPMENT AND OPERATION OF HOUSING THAT IS AFFORDABLE TO LOW & MODERATE INCOME PEOPLE WITHIN RIVERSIDE & SAN BERNARDINO COUNTIES, LESSENING THE BURDEN OF THE GOVERNMENT, COMBATING COMMUNITY DETORIORATION, & ELIMINATING NEIGHBORHOOD BLIGHT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL APARTMENTS PROGRAM - PROVIDED AFFORDABLE HOUSING UNITS MANAGED AND MAINTAINED AS LOW INCOME HOUSING AVAILABLE TO THE COMMUNITY.
REHABILITATION PROGRAMS - HELPING LOW INCOME HOMEOWNERS IN RIVERSIDE AND SAN BERNARDINO REHAB AND MAINTAIN THEIR HOUSES TO BE FREE OF HEALTH AND SAFETY AND CODE RELATED ISSUES. AS WELL AS CHARGING PROPERTY MANAGEMENT FEES FOR OTHER AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Kulpa CEO | Officer | 40 | $142,352 |
Miranda Hundley COO | Officer | 40 | $113,875 |
Aaron Brown CFO | OfficerTrustee | 2 | $0 |
Peter Benavidez Vice Chairman | OfficerTrustee | 2 | $0 |
Ralph Megna Chairman | OfficerTrustee | 2 | $0 |
Nancy Melendez Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K & S Construction Contractor | 6/29/18 | $456,965 |
Jd Construction Contractor | 6/29/18 | $134,020 |
Watson Painting Painter | 6/29/18 | $102,055 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $788,302 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,702 |
| Noncash contributions included in lines 1a–1f | $5,581 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $858,004 |
| Total Program Service Revenue | $3,712,881 |
| Investment income | $846 |
| 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 | $4,699,812 |
| 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. | $256,227 |
| Compensation of current officers, directors, key employees. | $113,364 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,031,503 |
| Pension plan accruals and contributions | $40,412 |
| Other employee benefits | $195,285 |
| Payroll taxes | $105,151 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,458 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,132 |
| Advertising and promotion | $708 |
| Office expenses | $127,293 |
| Information technology | $29,171 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,326 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,393 |
| Interest | $299,295 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $887,579 |
| Insurance | $292,664 |
| All other expenses | $50,587 |
| Total functional expenses | $4,644,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,065,053 |
| Savings and temporary cash investments | $4,908,556 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $151,115 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $548,243 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $98,730 |
| Net Land, buildings, and equipment | $28,017,003 |
| Investments—publicly traded securities | $1,518,463 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,307,163 |
| Accounts payable and accrued expenses | $198,944 |
| Grants payable | $0 |
| Deferred revenue | $9,376 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,436,046 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $23,135,608 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,391,163 |
| Total liabilities | $28,171,137 |
| Net assets without donor restrictions | $7,695,065 |
| Net assets with donor restrictions | $440,961 |
| 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 | $36,307,163 |
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 |