Texas State Affordable Housing Corporation
- Assets
- $440.7m
- Revenue
- $88.1m
- Investments
- $0.0
- Employees
- 32
- Location
- Austin, TX
- Founding
- 12/1994
- Data as of
- 08/2023
- 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 08/2023, Texas State Affordable Housing Corporation employed 32 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 08/2023, Texas State Affordable Housing Corporation generated $88.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.5% each year . All expenses for the organization totaled $35.0m during the year ending 08/2023. While expenses have increased by 17.7% 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, Texas State Affordable Housing Corporation has awarded 335 individual grants totaling $8,191,496. 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
2023
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.
EXPENSES GRANTS REVENUEMULTI-FAMILY HOUSING 427,085 0 1,977,119OTHER 244,708 0 0
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Williams Member | Trustee | 1 | $0 |
Courtney Johnson-Rose Member | Trustee | 1 | $0 |
Valerie Cardenas Vice Chair | Trustee | 1 | $0 |
William Dietz Chair | Trustee | 1 | $0 |
Lemuel Williams Member | Trustee | 1 | $0 |
David W Long President | Officer | 40 | $231,711 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cornerstone Staffing Contract Services | 8/30/23 | $162,544 |
Ricoh Usa Monthly It Services | 8/30/23 | $126,204 |
Coats Rose Legal Services | 8/30/23 | $102,331 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,042,820 |
| All other contributions, gifts, grants, and similar amounts not included above | $163,799 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,206,619 |
| Total Program Service Revenue | $82,692,203 |
| Investment income | $1,137,445 |
| Tax Exempt Bond Proceeds | $2,082,084 |
| Royalties | $959 |
| Net Rental Income | $849,093 |
| Net Gain/Loss on Asset Sales | $153,062 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $88,121,465 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,052,000 |
| 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. | $1,246,113 |
| Compensation of current officers, directors, key employees. | $136,574 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,311,057 |
| Pension plan accruals and contributions | $100,262 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,888 |
| Fees for services: Accounting | $99,199 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,000 |
| Fees for services: Other | $889,275 |
| Advertising and promotion | $102,924 |
| Office expenses | $236,488 |
| Information technology | $250,100 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $111,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,765 |
| Interest | $2,157,783 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $645,737 |
| Insurance | $276,554 |
| All other expenses | $99,256 |
| Total functional expenses | $34,965,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,825,393 |
| Savings and temporary cash investments | $30,881,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,708,218 |
| 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 | $278,969 |
| Net Land, buildings, and equipment | $5,674,541 |
| Investments—publicly traded securities | $91,505,618 |
| Investments—other securities | $0 |
| Investments—program-related | $303,312,966 |
| Intangible assets | $0 |
| Other assets | $491,201 |
| Total assets | $440,678,449 |
| Accounts payable and accrued expenses | $2,378,294 |
| Grants payable | $0 |
| Deferred revenue | $1,119,966 |
| Tax-exempt bond liabilities | $79,525,565 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,070,133 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $393,822 |
| Total liabilities | $85,487,780 |
| Net assets without donor restrictions | $346,313,287 |
| Net assets with donor restrictions | $8,877,382 |
| 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 | $440,678,449 |
Grants Awarded
Over the last fiscal year, Texas State Affordable Housing Corporation has awarded $1,052,000 in support to 67 organizations.
| Grant Recipient | Amount |
|---|---|
6 STONES MISSION NETWORK PURPOSE: CRITICAL HOME REPAIRS | $13,000 |
AGAPE RESOURCE AND ASSISTANCE CENTER PURPOSE: SUPPORTIVE HOUSING SERVICES | $10,000 |
ALLIANCE OF COMMUNITY ASSISTANCE MINISTRIES PURPOSE: SUPPORTIVE HOUSING SERVICES | $13,000 |
ANGEL REACH PURPOSE: SUPPORTIVE HOUSING SERVICES | $13,000 |
ANOTHER CHANCE HOUSE PURPOSE: SUPPORTIVE HOUSING SERVICES | $10,000 |
ATTACK POVERTY PURPOSE: CRITICAL HOME REPAIRS | $13,000 |