Housing Trust Silicon Valley is located in San Jose, CA. The organization was established in 2000. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Housing Trust Silicon Valley employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Trust Silicon Valley 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, Housing Trust Silicon Valley generated $21.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $7.3m during the year ending 06/2021. While expenses have increased by 13.5% per year over the past 6 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, Housing Trust Silicon Valley has awarded 24 individual grants totaling $3,443,549. 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
THE MISSION OF HOUSING TRUST SILICON VALLEY IS TO MAKE BAY AREA A MORE AFFORDABLE PLACE TO LIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPETITIVE REAL ESTATE MARKET IN THE GREATER BAY AREA CREATES A CHALLENGING ENVIRONMENT FOR AFFORDABLE HOUSING DEVELOPMENT. HOUSING TRUST - WHICH MAKES MORE LOANS THAN ANY OTHER NONPROFIT HOUSING LENDER IN OUR REGION - IS HERE TO HELP. SINCE 2000, HOUSING TRUST HAS MADE LOANS TO 175 AFFORDABLE HOUSING PROJECTS, TOTALING OVER $387 MILLION IN FUNDING AND RESULTING IN 14,671 AFFORDABLE RENTAL HOMES. OUR BORROWERS ARE TYPICALLY COMMUNITY-BASED, NON-PROFIT AND MISSION ALIGNED FOR-PROFIT AFFORDABLE HOUSING DEVELOPERS WHOSE COLLECTIVE MISSION IS TO INCREASE AND PRESERVE THE AFFORDABLE HOUSING STOCK IN THE COMMUNITIES THEY SERVE, AND BY SO DOING, REVITALIZE SUCH COMMUNITIES. WE LEND IN THE GREATER BAY AREA INCLUDING ALAMEDA, CONTRA COSTA, MARIN, MONTEREY, NAPA, SAN BENITO, SAN FRANCISCO, SAN JOAQUIN, SAN MATEO, SANTA CLARA, SANTA CRUZ, SOLANO AND SONOMA COUNTIES. MULTI-FAMILY LENDING VOLUME HAS GROWN SIGNIFICANTLY OVER THE PAST SEVERAL YEARS.
SIX-FIGURE DOWN PAYMENTS CAN PUT THE DREAM OF HOMEOWNERSHIP OUT OF REACH. HOUSING TRUST OFFERS FIRST TIME HOMEBUYERS THE EDUCATION AND COUNSELING, DEFERRED INTEREST LOANS AND BELOW MARKET PURCHASE PROGRAMS THAT CAN BRING THAT DREAM CLOSER TO REALITY. HOUSING TRUST'S HOMEBUYER TEAM OFFERS HOMEBUYER AND FINANCIAL LITERACY EDUCATION IN GROUP SETTINGS AS WELL AS ONE-ON-ONE SESSIONS THAT COVER TOPICS INCLUDING SAVING FOR A DOWN PAYMENT AND RESERVES, HOW TO SELECT AND WORK WITH REALTORS AND MORTGAGE LOAN OFFICERS AND WHAT TO EXPECT UPON CLOSING ON A NEW HOME. HOUSING TRUST'S FINANCIAL PRODUCTS REDUCE THE BURDEN OF 20% DOWN PAYMENT REQUIREMENTS AND BRIDGE THE GAP BETWEEN WHAT LOW- TO MIDDLE-INCOME BUYERS CAN AFFORD TO BORROW AND THE EQUITY REQUIRED TO DO SO. SINCE 2000 WE HAVE OFFERED HOMEBUYER DOWN PAYMENT ASSISTANCE AS DEFERRED, AMORTIZING AND EQUITY SHARE LOANS, DEPENDING ON INCOME LEVEL AND NEEDS OF THE BORROWER. OUR LOANS UNDER THESE PROGRAMS RANGE FROM $6,500 TO $187,000. WE HAVE MADE 2,570 DOWN PAYMENT ASSISTANCE LOANS TOTALING OVER $50 MILLION SINCE OUR FOUNDING. IN FY21, HOUSING TRUST PROVIDED EDUCATION AND COUNSELING TO 3,215 HOPEFUL HOMEBUYERS, MADE TWENTY DOWN PAYMENT ASSISTANCE LOANS AND COMPLETED FOUR BELOW MARKET PURCHASE PROGRAM HOME SALES.
WE HELP NEIGHBORS EXPERIENCING HOMELESSNESS MOVE OFF THE STREETS AND INTO HOMES. THIS IS A VITAL PIECE OF OUR COMPREHENSIVE MISSION, HELPING OUR COMMUNITIES' LOWEST INCOME HOUSEHOLDS ACHIEVE STABILITY. HOUSING TRUST HAS GRANT PROGRAMS THAT STRENGTHEN AND EXPAND CAPACITY OF SOCIAL SAFETY NET PROVIDERS AND PROVIDE THE FINAL KEY TO INDIVIDUALS AND FAMILIES TO PREVENT OR EXIT HOMELESSNESS. HOUSING TRUST PARTNERS WITH SOCIAL SERVICE AGENCIES TO MAKE SECURITY DEPOSITS ASSISTANCE TO HOUSEHOLDS EXPERIENCING OR AT RISK OF HOMELESSNESS, ALLOWING FAMILIES TO MOVE INTO PERMANENT HOUSING. SINCE 2000, HOUSING TRUST HAS ALSO HELPED 7,556 PEOPLE WITH OUR HOMELESSNESS ASSISTANCE GRANTS, TOTALING $5.5 MILLION. THESE PROGRAMS REACH THOSE AT THE VERY LOW END OF THE INCOME SPECTRUM, WITH OVER 80% OF FUNDS REACHING EXTREMELY LOW-INCOME HOUSEHOLDS (THOSE EARNING 30% OR LESS OF THE AREA MEDIAN INCOME). THE LACK OF AFFORDABLE HOUSING AND HIGH COST OF RENT CAN FORCE EVEN EMPLOYED INDIVIDUALS INTO HOMELESSNESS. OUR DEPOSIT ASSISTANCE CLIENTS ARE OFTEN EMPLOYED AS RETAIL CLERKS, RESTAURANT WORKERS, HOSPITAL STAFF AND MANY OTHER PROFESSIONS OUR COMMUNITIES DEPEND UPON. IN FY21, HOUSING TRUST HELPED 129 PEOPLE AVOID OR EXIT HOMELESSNESS, GRANTING $144,577.
OTHER PROGRAMS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Julie Mahowald Chief Financial Officer | Officer | 40 | $274,713 |
Kevin Zwick Chief Executive Officer (07/20) | Officer | 40 | $203,372 |
Fathia Macauley Chief Lending Officer | Officer | 40 | $184,423 |
Craig Mizushima Chief Compliance & Risk Officer | Officer | 40 | $165,768 |
Julie Quinn Chief Development Officer (10/20) | Officer | 40 | $152,194 |
Pam Berkowitz VP Of Multifamily Lending And Business | 40 | $143,682 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Lee Dinneen Consulting Financial Consulting Services | 6/29/21 | $147,975 |
Rsm Us Llp Audit And Tax Services | 6/29/21 | $125,208 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $117,355 |
Related organizations | $0 |
Government grants | $2,931,668 |
All other contributions, gifts, grants, and similar amounts not included above | $8,238,229 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $11,287,252 |
Total Program Service Revenue | $9,403,321 |
Investment income | $166,058 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $591,137 |
Net Income from Fundraising Events | -$1,485 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $21,448,557 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $144,091 |
Grants and other assistance to domestic individuals. | $152,980 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,076,496 |
Compensation of current officers, directors, key employees. | $432,886 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,358,930 |
Pension plan accruals and contributions | $146,614 |
Other employee benefits | $358,806 |
Payroll taxes | $236,122 |
Fees for services: Management | $0 |
Fees for services: Legal | $25,886 |
Fees for services: Accounting | $126,892 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $36,285 |
Fees for services: Other | $941,271 |
Advertising and promotion | $9,568 |
Office expenses | $45,167 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $281,693 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $8,830 |
Interest | $1,913,020 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $74,346 |
Insurance | $61,185 |
All other expenses | $0 |
Total functional expenses | $7,260,732 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $600 |
Savings and temporary cash investments | $73,473,002 |
Pledges and grants receivable | $10,358,670 |
Accounts receivable, net | $406,079 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $160,058,415 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $186,613 |
Net Land, buildings, and equipment | $135,230 |
Investments—publicly traded securities | $6,370,502 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $250,989,111 |
Accounts payable and accrued expenses | $1,025,976 |
Grants payable | $0 |
Deferred revenue | $9,883,136 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $3,452,554 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $14,892,380 |
Unsecured mortgages and notes payable | $99,488,184 |
Other liabilities | $17,578,992 |
Total liabilities | $146,321,222 |
Net assets without donor restrictions | $52,385,252 |
Net assets with donor restrictions | $52,282,637 |
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 | $250,989,111 |
Over the last fiscal year, Housing Trust Silicon Valley has awarded $144,091 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
San Jose, CA PURPOSE: LOAN FORGIVENESS | $100,000 |
Santa Clara, CA PURPOSE: LOAN FORGIVENESS | $35,000 |
FAMILY SUPPORTIVE HOUSING PURPOSE: PARTIAL LOAN FORGIVEN | $9,091 |
Over the last fiscal year, we have identified 8 grants that Housing Trust Silicon Valley has recieved totaling $689,094.
Awarding Organization | Amount |
---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $256,175 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Housing and Transportation | $155,879 |
Silicon Valley Leadership Group Foundation San Jose, CA PURPOSE: TO PROVIDE PROGRAM SUPPORT | $111,981 |
David And Lucile Packard Foundation Los Altos, CA PURPOSE: LOCAL GRANTMAKING | $100,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50,000 |
Marcus & Millichap Foundation Palo Alto, CA PURPOSE: GENERAL PURPOSE | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Charles Apartments Housing Corporation Hayward, CA | $0 | $319,066 |
Satellite Affordable Housing Associates Berkeley, CA | $83,294,736 | $13,591,508 |
Rhf Foundation Long Beach, CA | $215,917,223 | $14,903,975 |
Sheltercare Eugene, OR | $4,357,138 | $9,135,740 |
Midpen Resident Services Corporation Foster City, CA | $3,702,334 | $11,407,168 |
Bridge Property Management Company San Francisco, CA | $1,233,636 | $9,360,308 |
Burbank Housing Corporation Burbank, CA | $47,643,861 | $6,370,585 |
Habitat For Humanity San Fernando/Santa Clarita Valleys Woodland Hills, CA | $1 | $4,168,206 |
Do Good Multnomah Portland, OR | $6,858,210 | $9,987,432 |
Satellite Aha Development Inc Berkeley, CA | $17,466,494 | $5,909,155 |
Housing Trust Silicon Valley San Jose, CA | $250,989,111 | $21,448,557 |
Western Community Housing Inc Costa Mesa, CA | $106,078,970 | $11,023,596 |