First Community Housing
- Assets
- $51.8m
- Revenue
- $23.1m
- Investments
- $0.0
- Employees
- 26
- Location
- San Jose, CA
- Founding
- 10/1986
- Data as of
- 12/2023
- EIN
- 77-0119210
Organization Overview
First Community Housing is located in San Jose, CA. The organization was established in 1986. 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 12/2023, First Community Housing employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Community Housing 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 12/2023, First Community Housing generated $23.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 45.8% each year . All expenses for the organization totaled $10.6m during the year ending 12/2023. While expenses have increased by 17.9% per year over the past 9 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, First Community Housing has awarded 36 individual grants totaling $912,783. 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
TO BUILD HIGH QUALITY, SUSTAINABLE, AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1986 FIRST COMMUNITY HOUSING (FCH) HAS DEVELOPED OVER 1,466 UNITS OF HIGH-QUALITY AFFORDABLE RENTAL HOUSING FOR HOUSEHOLDS EARNING 20-80% OF THE AREA MEDIAN INCOME FOR SILICON VALLEY. FCH IS A GREEN DEVELOPER NOTED FOR ITS COMMITMENT TO USING SUSTAINABLE, ENERGY-EFFICIENT MATERIALS AND SYSTEMS IN ITS DEVELOPMENTS AND HAS WON AWARDS FOR ARCHITECTURAL DESIGN, PROPERTY MANAGEMENT, AND ENERGY-EFFICIENCY.
IN PARTNERSHIP WITH THE PRIVATELY CONTRACTED COMPREHENSIVE HOUSING OVER 3,000 PEOPLE WERE SERVED DURING THE YEAR. MANAGEMENT SERVICES AT EACH PROPERTY, FCH PROVIDES ENHANCED, ON-SITE RESIDENT SERVICES. THESE SERVICES ARE USTOMIZED TO THE NEEDS OF RESIDENTS THROUGH PARTNERSHIPS WITH SERVICE-BASED NON-PROFIT ORGANIZATIONS. THE ROGRAMS INCLUDE: FINANCIAL LITERACY, COMPUTER TRAINING CLASSES, YOUTH LITERACY, AND MORE. OVER 3,000 PEOPLE WERE SERVED DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Schoennauer Chairman Of The Board (thru 06/23) | OfficerTrustee | 1 | $0 |
Richard L Conniff Treasurer/ Chairman | OfficerTrustee | 2 | $0 |
Matthew James Secretary (thru 07/23), Director | OfficerTrustee | 1 | $0 |
Dunia Noel Secretary | OfficerTrustee | 1 | $0 |
Robert Sherrard Treasurer | OfficerTrustee | 1 | $0 |
Ru Weerakoon Senior Advisor Emeritus | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Armanino Llp Audit & Tax Services | 12/30/23 | $246,795 |
Hoge Fenton Jones & Appel Inc Legal Services | 12/30/23 | $175,960 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,698,354 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,698,354 |
| Total Program Service Revenue | $2,120,880 |
| Investment income | $233,141 |
| 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 | $23,061,178 |
| 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. | $963,704 |
| Compensation of current officers, directors, key employees. | $740,420 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,173,108 |
| Pension plan accruals and contributions | $40,094 |
| Other employee benefits | $243,165 |
| Payroll taxes | $157,807 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $126,752 |
| Fees for services: Accounting | $190,043 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $377,915 |
| Advertising and promotion | $0 |
| Office expenses | $38,543 |
| Information technology | $134,559 |
| Royalties | $0 |
| Occupancy | $354,811 |
| Travel | $17,968 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,736 |
| Interest | $399,663 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,445 |
| Insurance | -$53,320 |
| All other expenses | $28,631 |
| Total functional expenses | $10,631,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,192,601 |
| Savings and temporary cash investments | $40,200 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,480,467 |
| 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 | $400,371 |
| Net Land, buildings, and equipment | $856,842 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$27,620,671 |
| Intangible assets | $0 |
| Other assets | $74,492,896 |
| Total assets | $51,842,706 |
| Accounts payable and accrued expenses | $8,018,084 |
| Grants payable | $0 |
| Deferred revenue | $913,408 |
| 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 | $49,959,764 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,194,148 |
| Total liabilities | $61,085,404 |
| Net assets without donor restrictions | -$9,302,809 |
| Net assets with donor restrictions | $60,111 |
| 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 | $51,842,706 |
Grants Awarded
Over the last fiscal year, First Community Housing has awarded $149,019 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
SECOND STREET STUDIOS LP PURPOSE: SUPPORT THE LOW-INCOME HOUSING OPERATIONS | $100,000 |
NON-PROFIT HOUSING ASSOCIATION PURPOSE: SUPPORT FOR THE MISSION | $9,500 |
NORTH SAN PEDRO APARTMENTS LP PURPOSE: HELP HOMELESS RESIDENCE | $7,380 |
LEIGH AVENUE APARTMENTS LP PURPOSE: HELP HOMELESS RESIDENCE | $7,380 |
CURTNER STUDIOS LP PURPOSE: SUPPORT THE LOW-INCOME HOUSING OPERATIONS | $24,759 |