Mchi Affordable Acquisitions Inc
- Assets
- $19.6m
- Revenue
- $16.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Salinas, CA
- Founding
- 02/1999
- Data as of
- 06/2021
- EIN
- 77-0500020
Organization Overview
Mchi Affordable Acquisitions Inc is located in Salinas, CA. The organization was established in 1999. 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. Mchi Affordable Acquisitions Inc 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 06/2021, Mchi Affordable Acquisitions Inc generated $16.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 42.6% each year . All expenses for the organization totaled $1.7m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ENTITY IS ESTABLISHED TO SUPPORT AN AFFILIATE BY ENGAGING IN THE ACQUISITION, REHABILITATION, OPERATIONS, MAINTENANCE AND REPAIR OF TWO AFFORDABLE HOUSING FACILITIES. 174 APARTMENT UNITS ARE MADE AVAILABLE TO LOW INCOME PEOPLE THROUGH RENTAL SUBSIDY PROVIDED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNER OF TWO AFFORDABLE RESIDENTIAL RENTAL HOUSING PROPERTIES IN MONTEREY COUNTY THAT PROVIDE 172 APARTMENT UNITS OF AFFORDABLE HOUSING TO LOW INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennise Harrison Secretary/ Treasurer | Officer | 1 | $0 |
Brielle Bumba Vice President | Officer | 1 | $0 |
Nancy Lloyd President | Officer | 1 | $0 |
Paul Miller Hacm Appointee | Trustee | 1 | $0 |
William Benitez Community Director | Trustee | 1 | $0 |
Kathleen Ballesteros Hacm Appointee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,759,726 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,759,726 |
| Total Program Service Revenue | $793,037 |
| Investment income | $0 |
| 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 | $16,149,158 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $322,855 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,966 |
| Fees for services: Management | $127,507 |
| Fees for services: Legal | $644 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $169,059 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $507,552 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $227,268 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $236,018 |
| Insurance | $77,160 |
| All other expenses | $2,985 |
| Total functional expenses | $1,701,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $307,713 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,636,896 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,288 |
| Net Land, buildings, and equipment | $1,490,931 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $123,053 |
| Total assets | $19,613,881 |
| Accounts payable and accrued expenses | $533,739 |
| 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 | $749,324 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $97,458 |
| Total liabilities | $1,380,521 |
| Net assets without donor restrictions | $18,233,360 |
| 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 | $19,613,881 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eden Investments Inc Hayward, CA | $35,016,313 | $30,534,205 |
Turk Street Inc San Francisco, CA | $36,581,577 | $10,576,295 |
A Community Of Friends Los Angeles, CA | $60,441,352 | $19,454,068 |
Oregon Coast Community Action Coos Bay, OR | $16,109,030 | $18,585,692 |
Abode Communities Los Angeles, CA | $48,420,643 | $18,096,266 |
Habitat For Humanity Portland Metro East Portland, OR | $35,667,707 | $17,313,274 |
Vista Del Monte Affordable Housing Inc Keene, CA | $19,598,964 | $14,888,615 |
Rubicon Programs Inc Richmond, CA | $13,905,498 | $18,401,820 |
Sacramento Self-Help Housing Inc Sacramento, CA | $3,575,796 | $15,208,752 |
The Mortgage Capital Development Company Oakland, CA | $77,426,961 | $21,275,511 |
Century Housing Corporation Culver City, CA | $579,661,365 | $33,491,484 |
Oregon Affordable Housing Assistance Corporation Salem, OR | $27,410,918 | $14,226,353 |