Texas State Affordable Housing Corporation
- Assets
- $253.1m
- Revenue
- $134.2m
- Investments
- $0.0
- Employees
- 26
- Location
- Austin, TX
- Founding
- 12/1994
- Data as of
- 08/2021
- EIN
- 74-2746185
Organization Overview
Texas State Affordable Housing Corporation is located in Austin, TX. The organization was established in 1994. 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 08/2021, Texas State Affordable Housing Corporation employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas State Affordable Housing 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 08/2021, Texas State Affordable Housing Corporation generated $134.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 52.9% each year . All expenses for the organization totaled $9.1m during the year ending 08/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Texas State Affordable Housing Corporation has awarded 186 individual grants totaling $4,876,998. 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
PROVIDE LOWER INCOME TEXANS WITH HOUSING FINANCE OPTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINGLE FAMILY PROGRAMS PROVIDES 30-YEAR FIXED RATE MORTGAGE LOANS TO ELIGIBLE FIRST-TIME HOMEBUYERS IN TEXAS; PROVIDES DOWN PAYMENT ASSISTANCE TO HOME BUYERS; PROVIDES SHORT AND LONG-TERM FINANCING FOR THE CONSTRUCTION OR IMPROVEMENT OF SINGLE FAMILY HOUSING IN TEXAS; PROVIDES GRANTS FOR THE CONSTRUCTION OR IMPROVEMENT OF SINGLE FAMILY HOUSING IN TEXAS; PROVIDES HOMEBUYER EDUCATION TO BORROWERS.
TEXAS HOUSING IMPACT FUND (IMPACT FUND)/FORMERLY AFFORDABLE COMMUNITIES OF TEXAS (ACT) - THE IMPACT FUND OFFERS SHORT AND LONG-TERM FINANCING FOR THE DEVELOPMENT, ACQUISITION, OR REHABILITATION OF AFFORDABLE RENTAL OR HOMEOWNERSHIP DEVELOPMENTS ACROSS TEXAS CREATING OPPORTUNITY, HEALTHIER ENVIRONMENTS AND A HIGHER QUALITY OF LIFE FOR LOW- AND MODERATE-INCOME FAMILIES.
ASSET MANAGEMENT THE CORPORATION'S SINGLE FAMILY AND MULTIFAMILY RENTAL PROGRAM PROVIDES AFFORDABLE HOUSING AT BELOW-MARKET RENTS TO INCOME-ELIGIBLE FAMILIES AND INDIVIDUALS IN THE AUSTIN AREA; THE CORPORATION ALSO PERFORMS ASSET OVERSIGHT AND COMPLIANCE MONITORING FOR MULTIFAMILY AND SINGLE FAMILY BOND FINANCED PROPERTIES LOCATED THROUGHOUT TEXAS.
EXPENSES GRANTS REVENUELOAN SERVICING 349,737 0 0MULTI-FAMILY HOUSING 756,581 0 0OTHER 554,302 185,000
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Almquist Senior Director | Officer | 40 | $254,469 |
David W Long President | Officer | 40 | $223,129 |
Melinda Gay Smith CFO & Treasurer | Officer | 40 | $172,969 |
San Juanita Taylor Executive Vice President | Officer | 40 | $143,542 |
Nicholas Lawrence Controller | 40 | $139,620 | |
David Danenfelzer Senior Director | 40 | $113,391 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $868,492 |
| All other contributions, gifts, grants, and similar amounts not included above | $251,540 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,120,032 |
| Total Program Service Revenue | $129,877,109 |
| Investment income | $460,708 |
| Tax Exempt Bond Proceeds | $1,948,651 |
| Royalties | $0 |
| Net Rental Income | $545,135 |
| Net Gain/Loss on Asset Sales | $222,274 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $134,173,909 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $916,000 |
| 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. | $959,995 |
| Compensation of current officers, directors, key employees. | $105,215 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,783,661 |
| Pension plan accruals and contributions | $84,398 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $91,681 |
| Fees for services: Accounting | $89,536 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,000 |
| Fees for services: Other | $822,984 |
| Advertising and promotion | $79,347 |
| Office expenses | $190,276 |
| Information technology | $279,694 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18,305 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,001 |
| Interest | $1,236,569 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $614,777 |
| Insurance | $192,958 |
| All other expenses | $174,466 |
| Total functional expenses | $9,070,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,649,224 |
| Savings and temporary cash investments | $21,357,964 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,003,053 |
| 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 | $259,766 |
| Net Land, buildings, and equipment | $6,008,393 |
| Investments—publicly traded securities | $68,007,708 |
| Investments—other securities | $0 |
| Investments—program-related | $151,606,595 |
| Intangible assets | $0 |
| Other assets | $246,582 |
| Total assets | $253,139,285 |
| Accounts payable and accrued expenses | $1,343,624 |
| Grants payable | $0 |
| Deferred revenue | $2,965,509 |
| Tax-exempt bond liabilities | $39,016,843 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,475,083 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,045,091 |
| Total liabilities | $47,846,150 |
| Net assets without donor restrictions | $192,744,962 |
| Net assets with donor restrictions | $12,548,173 |
| 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 | $253,139,285 |
Grants Awarded
Over the last fiscal year, Texas State Affordable Housing Corporation has awarded $916,000 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
New Orleans, LA PURPOSE: CRITICAL HOME REPAIRS | $48,500 |
Americus, GA PURPOSE: CRITICAL HOME REPAIRS | $48,500 |
Austin, TX PURPOSE: CRITICAL HOME REPAIRS | $48,500 |
San Angelo, TX PURPOSE: CRITICAL HOME REPAIRS | $33,500 |
Houston, TX PURPOSE: CRITICAL HOME REPAIRS | $33,500 |
Georgetown, TX PURPOSE: CRITICAL HOME REPAIRS | $33,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Texas State Affordable Housing Corporation has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $7,000 |
Frost Bank San Antonio, TX PURPOSE: UNRESTRICTED GRANT FOR | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |
Housing And Community Services Inc San Antonio, TX | $78,883,961 | $25,153,792 |
Habitat For Humanity International Inc Tulsa, OK | $20,375,468 | $13,816,169 |
Front Steps Inc Austin, TX | $4,289,583 | $9,800,885 |
Operation Finally Home New Braunfels, TX | $6,586,831 | $9,808,854 |
Residential Realty Group I Inc A Delaware Corp Houston, TX | $5,107,430 | $0 |
Mccalls Community Homes Inc Ada, OK | $3,788,949 | $9,810,630 |