Solano Affordable Housing Foundation
- Assets
- $18.6m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Fairfield, CA
- Founding
- 01/1992
- Data as of
- 12/2022
- EIN
- 68-0224594
Organization Overview
Solano Affordable Housing Foundation is located in Fairfield, CA. The organization was established in 1992. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solano Affordable Housing Foundation 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, Solano Affordable Housing Foundation generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 31.3% each year . All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 7.8% per year over the past 8 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 2015, Solano Affordable Housing Foundation has awarded 46 individual grants totaling $133,655. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS FOUNDED IN 1989 BY MUNICIPAL AGENCIES AND PRIVATE CITIZENS WITH THE SPECIFIC AND PRIMARY PURPOSE OF PROVIDING FOR AFFORDABLE HOUSING FOR VERY LOW AND/OR LOW INCOME PERSONS RESIDING OR EMPLOYED WITHIN THE COUNTY OF SOLANO AND ADJOINING COUNTIES. ACCORDINGLY, SAHF HAS DEVELOPED,CONSTRUCTED/ REHABILITATED AND OVERSEEN THE OPERATIONS OF OVER 700 RENTAL UNITS FOR VERY-LOW AND LOW INCOME FAMILIES, ELDERLY AND HANDICAPPED PERSONS. IT IS ALSO IN THE PROCESS OF DEVELOPING ADDITIONAL LOW INCOME RENTAL PROJECTS. IN ADDITION, THE FOUNDATION ALSO SERVES AS THE GENERAL PARTNER IN FIVE LOW INCOME HOUSING PARTNERSHIPS OPERATING A TOTAL OF 302 LOW AND VERY LOW INCOME HOUSING UNITS. FURTHERMORE, SAHF GUARANTEES THE OBLIGATIONS OF ANOTHER ORGANIZATION THAT IS THE GENERAL PARTNER OF THREE LOW INCOME HOUSING PARTNERSHIPS IN VALLEJO, CA OPERATING A TOTAL OF 388 LOW AND VERY LOW INCOME HOUSING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Stubbs Director | 1 | $0 | |
Viola Robertson Director | 1 | $0 | |
Robert Jones Director | 1 | $0 | |
Jerry Wilkerson Vice President | 1 | $0 | |
Michael Rice Director | 1 | $0 | |
Bev Dorsett Vice Chairperson | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lerch Sturmer Llp | 12/30/22 | $204,715 |
John J Robert Mueller | 12/30/22 | $150,000 |
Boutin Jones Inc | 12/30/22 | $64,638 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $9,739 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,860,987 |
| Total Revenue | $3,870,726 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $264,868 |
| Other employee salaries and wages | $212,750 |
| Pension plans, employee benefits | $123,990 |
| Interest | $626 |
| Taxes | $32,876 |
| Depreciation | $11,307 |
| Occupancy | $69,976 |
| Travel, conferences, and meetings | $33,683 |
| Printing and publications | $0 |
| Other expenses | $164,045 |
| Total operating and administrative expenses | $1,398,616 |
| Contributions, gifts, grants paid | $11,085 |
| Total expenses and disbursements | $1,409,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,080,284 |
| Savings and temporary cash investments | $257,239 |
| Net Accounts receivable | $360 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $78,971 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $5,251 |
| Other assets | $16,191,202 |
| Total assets | $18,613,307 |
| Accounts payable and accrued expenses | $43,045 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $38,488 |
| Total liabilities | $81,533 |
Grants Awarded
Over the last fiscal year, Solano Affordable Housing Foundation has awarded $11,085 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ASSIST-A-GRAD SCHOLARSHIP FOUNDATION PURPOSE: DONATION TO SUPPORT ANNUAL SCHOLARSHIP | $6,085 |
HAZEL'S TRANQUILITY PLACE PURPOSE: HONORING THE MEMORY OF ISAIAH EARL HALL | $5,000 |