Usa Homeownership Foundation Inc
- Assets
- $3.4m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 23
- Location
- Corona, CA
- Founding
- 11/2012
- Data as of
- 12/2022
- EIN
- 45-2458485
Organization Overview
Usa Homeownership Foundation Inc, operating under the name Veterans Association Of Real Estate Professionals, is located in Corona, CA. The organization was established in 2012. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2022, Veterans Association Of Real Estate Professionals employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veterans Association Of Real Estate Professionals 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 12/2022, Veterans Association Of Real Estate Professionals generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $6.5m during the year ending 12/2022. 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
TO IMPROVE THE LIVES OF SERVICE MEMBERS AND VETERANS THROUGH EDUCATION, HOUSING, AND PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DEVELOPED AND REHABILITATED 29 HOMES AND SOLD AT A DISCOUNTED PURCHASE PRICE TO ACTIVE DUTY MILITARY AND VETERANS. IN ADDITION, THE ORGANIZATION PAID THE ESCROW FEES AND OTHER EXPENSES DURING THE REHABILITATION PERIOD.
PLANNED AND SPONSORED A POLICY CONFERENCE AND A NATIONAL CONFERENCE. THROUGH THE CONFERENCES EDUCATIONAL INFORMATION, AWARENESS AND TRAINING WAS PROVIDED TO REAL ESTATE PROFESSIONALS, ACTIVE MILITARY AND VETERANS ABOUT THE RESOURCES AVAILABLE TO FACILITATE HOME OWNERSHIP, INCLUDING THE VA HOME LOAN PROGRAM.
THE ORGANIZATION REHABILITATED 4 RESIDENCES AND DONATED THEM MORTGAGE FREE TO A VETERAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carla Lemon Secretary | OfficerTrustee | 40 | $121,250 |
Son Nguyen President | OfficerTrustee | 40 | $100,000 |
Christine Olfus Director | Trustee | 1 | $0 |
Sandy Heath Treasurer | Trustee | 1 | $0 |
Pat Diomede Director | Trustee | 1 | $0 |
Robert Hipwell Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Property Masters Corp Construction | 12/30/22 | $237,992 |
Advance Team Inc Asset Mgt/marketing | 12/30/22 | $262,164 |
Ccm Builders Construction | 12/30/22 | $168,178 |
Win Win Consulting Inc Prog Dev/course Writing | 12/30/22 | $223,229 |
Hardrock Construction Services Construction | 12/30/22 | $130,398 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $138,465 |
| Fundraising events | $781,220 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,159,584 |
| Noncash contributions included in lines 1a–1f | $1,592,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,079,269 |
| Total Program Service Revenue | $2,605,147 |
| Investment income | $9,959 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,915 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$262,447 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,441,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $283,049 |
| Grants and other assistance to domestic individuals. | $867,844 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $100,000 |
| Compensation of current officers, directors, key employees. | $100,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $791,506 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $151,175 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $78,710 |
| Travel | $111,797 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $575,256 |
| Interest | $9,408 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,947 |
| Insurance | $7,622 |
| All other expenses | -$915,188 |
| Total functional expenses | $6,491,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,507,225 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,976 |
| 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 | $6,927 |
| Net Land, buildings, and equipment | $16,402 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,884,881 |
| Total assets | $3,434,411 |
| Accounts payable and accrued expenses | $33,622 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $497,781 |
| Other liabilities | $0 |
| Total liabilities | $531,403 |
| Net assets without donor restrictions | $2,903,008 |
| 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 | $3,434,411 |
Grants Awarded
Over the last fiscal year, Usa Homeownership Foundation Inc has awarded $34,950 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Peachtree City, GA PURPOSE: Donation | $13,750 |
Brookeville, MD PURPOSE: Donation | $10,000 |
USF RESTORES PURPOSE: Donation | $6,000 |
North Las Vegas, NV PURPOSE: Donation | $5,200 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Usa Homeownership Foundation Inc has recieved totaling $97,616.
| Awarding Organization | Amount |
|---|---|
Homefree Usa Inc Landover, MD PURPOSE: Property purchased for renovation and sale ot low and moderate income potential home owners. | $73,500 |
Veterans United Foundation Columbia, MO PURPOSE: SERENITY ANGELS | $10,000 |
Apm Cares Inc Roseville, CA PURPOSE: COMMUNITY OUTREACH | $8,000 |
American Warrior Initiative Inc Madison, WI PURPOSE: DONATION | $2,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,500 |
Carl L Hossman Family Foundation Seattle, WA PURPOSE: CHARITABLE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consumer Credit Counseling Service Of San Francisco Concord, CA | $9,996,299 | $17,336,495 |
Springboard Non-Profit Consumer Credit Management Inc Riverside, CA | $8,795,796 | $5,993,379 |
Take Charge America Inc Phoenix, AZ | $22,881,953 | $7,255,476 |
Usa Homeownership Foundation Inc Corona, CA | $3,434,411 | $5,441,843 |
Debtwave Credit Counseling Inc Escondido, CA | $1,629,187 | $5,189,974 |
Access Counseling Inc Los Angeles, CA | $878,879 | $2,910,345 |
Earn To Learn Tucson, AZ | $1,535,362 | $2,450,878 |
Christian Credit Counselors Inc Carlsbad, CA | $6,458,952 | $2,790,959 |
Abacus Credit Counseling Encino, CA | $7,151,653 | $2,039,579 |
Cricket Debt Counseling Portland, OR | $3,870,920 | $1,652,866 |
National Budget Planners Of South Florida Inc Livermore, CA | $1,611,064 | $2,018,775 |
Helping Feet Reno, NV | $1,178,095 | $32,218 |