Housing Trust Silicon Valley
- Assets
- $244.6m
- Revenue
- $23.0m
- Investments
- $0.0
- Employees
- 40
- Location
- San Jose, CA
- Founding
- 12/2000
- Data as of
- 06/2023
- EIN
- 77-0545135
Organization Overview
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 06/2023, Housing Trust Silicon Valley employed 40 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 06/2023, Housing Trust Silicon Valley generated $23.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $8.7m during the year ending 06/2023. While expenses have increased by 12.5% 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, Housing Trust Silicon Valley has awarded 27 individual grants totaling $3,444,040. 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
WE USE TRANSFORMATIVE HOUSING FINANCE AND PUBLIC AND PRIVATE PARTNERSHIPS TO CREATE MORE EQUITABLE AND AFFORDABLE COMMUNITIES.
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 181 AFFORDABLE HOUSING PROJECTS, TOTALING OVER $495 MILLION IN FUNDING AND RESULTING IN 16,431 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, SACRAMENTO, SAN BENITO, SAN FRANCISCO, SAN JOAQUIN, SAN MATEO, SANTA CLARA, SANTA CRUZ, SOLANO, AND SONOMA COUNTIES.
OTHER PROGRAMS.
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 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 $250,000. WE HAVE MADE 2,593 DOWN PAYMENT ASSISTANCE LOANS TOTALING OVER $57 MILLION SINCE OUR FOUNDING. IN FY23, HOUSING TRUST PROVIDED EDUCATION AND COUNSELING TO 1,984 HOPEFUL HOMEBUYERS, MADE NINE DOWN PAYMENT ASSISTANCE LOANS.
IN 2023, WE OFFERED LIMITED SECURITY DEPOSIT ASSISTANCE AND ARE PHASING OUT THE PROGRAM THAT STRENGTHENED AND EXPANDED THE CAPACITY OF SOCIAL SAFETY NET PROVIDERS AND PROVIDED THE FINAL KEY TO INDIVIDUALS AND FAMILIES TO PREVENT OR EXIT HOMELESSNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Anzalone Chair | OfficerTrustee | 4 | $0 |
Lisa Gutierrez First/second Vice-Chair | OfficerTrustee | 1 | $0 |
Kevin Deeble Treasurer | OfficerTrustee | 1 | $0 |
Sharon Lee Secretary | OfficerTrustee | 1 | $0 |
Mike Beasley Director | Trustee | 1 | $0 |
Mary Chandler Director (until 2/1/23) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rsm Us Llp Audit And Tax Services | 6/29/23 | $137,340 |
Perkins Coie Llp Legal Services | 6/29/23 | $102,060 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $162,800 |
| Related organizations | $0 |
| Government grants | $1,649,357 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,586,413 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,398,570 |
| Total Program Service Revenue | $7,179,861 |
| Investment income | $2,441,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,849 |
| Net Income from Fundraising Events | -$33,477 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,027,841 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $160,491 |
| 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. | $1,308,266 |
| Compensation of current officers, directors, key employees. | $553,324 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,743,400 |
| Pension plan accruals and contributions | $172,145 |
| Other employee benefits | $415,588 |
| Payroll taxes | $273,812 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,062 |
| Fees for services: Accounting | $172,055 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,035 |
| Fees for services: Other | $798,912 |
| Advertising and promotion | $7,304 |
| Office expenses | $70,902 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $287,502 |
| Travel | $42,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,017 |
| Interest | $1,729,083 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $88,627 |
| Insurance | $76,951 |
| All other expenses | $214,985 |
| Total functional expenses | $8,717,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,002 |
| Savings and temporary cash investments | $64,908,130 |
| Pledges and grants receivable | $277,500 |
| Accounts receivable, net | $512,744 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $154,295,208 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $225,820 |
| Net Land, buildings, and equipment | $133,814 |
| Investments—publicly traded securities | $24,281,521 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $244,644,739 |
| Accounts payable and accrued expenses | $1,501,809 |
| Grants payable | $0 |
| Deferred revenue | $9,915,453 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,034,083 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,816,733 |
| Unsecured mortgages and notes payable | $84,788,960 |
| Other liabilities | $5,722,647 |
| Total liabilities | $118,779,685 |
| Net assets without donor restrictions | $82,875,276 |
| Net assets with donor restrictions | $42,989,778 |
| 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 | $244,644,739 |
Grants Awarded
Over the last fiscal year, Housing Trust Silicon Valley has awarded $125,491 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FAMILY SUPPORTIVE HOUSING PURPOSE: PARTIAL LOAN FORGIVEN | $9,091 |
SVHOME PURPOSE: PROGRAM SUPPORT | $55,000 |
PATH PURPOSE: PROGRAM SUPPORT | $61,400 |