Usvets Housing Corporation
- Assets
- $92.7m
- Revenue
- $72.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- Data as of
- 06/2023
- EIN
- 84-2613244
Organization Overview
Usvets Housing Corporation is located in Los Angeles, CA. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Usvets 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SUCCESSFUL TRANSITION OF MILITARY VETERANS AND THEIR FAMILIES THROUGH THE PROVISION OF HOUSING, COUNSELING, CAREER DEVELOPMENT AND COMPREHENSIVE SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
U.S. VETS HOUSING CORPORATION WAS CREATED IN JUNE 2019 TO SUPPORT THE UNITED STATES VETERANS INITIATIVE AND ITS AFFORDABLE HOUSING DEVELOPMENT PROJECTS. MARCH VETERANS VILLAGE BUILDING 1 WAS COMPLETED IN APRIL 2022. THIS BUILDING IS SIXTEEN UNITS OF PERMANENT AND TRANSITIONAL HOUSING. THE OTHER HOUSING PROJECTS ARE STILL UNDER DEVELOPMENT AND ARE AS FOLLOWS: THE E STREET IN SAN BERNARDINO IS TARGETED TO BEGIN CONSTRUCTION IN 2024 AND THE 17TH STREET IN SAN BERNARDINO WILL START PRE-DEVELOPMENT ACTIVITIES ONCE E STREET HAS COMMENCED CONSTRUCTION. THE VENTURA VETERAN'S HOME CONSTRUCTION STARTED IN THE SUMMER OF 2022 AND IS TO BE COMPLETED IN OCTOBER 2024. THE CITY OF PHOENIX PURCHASED THE NEW PHOENIX CAMPUS, REPLACING THE VERY OLD GRAND (CONTINUED ON SCH. O) VETERANS VILLAGE, THERE ARE PLANS TO MOVE TO THIS LOCATION WHEN REQUIRED CONSTRUCTION WORK AND INSPECTIONS ARE COMPLETED. THE VA CAMPUS IN BRENTWOOD WILL PROVIDE 900 UNITS OF VETERAN HOUSING, AND IT WILL TAKE THE LEAD IN DEVELOP FOUR BUILDINGS ON THE PROPERTY AND WILL ALSO BE THE LEAD SERVICE PROVIDER ON THE CAMPUS. THE FIRST PROJECT WILL BE BUILDING 210 PROVIDING 38 RESIDENTIAL UNITS AND CONSTRUCTION IS PLANNED TO START IN 2024. THE SECOND PROJECT WILL BE BUILDING 300 PROVIDING 44 RESIDENTIAL UNITS AND A COMMUNITY SERVICE HUB WITH CONSTRUCTION SCHEDULED TO START IN 2025. THE FORT WHIPPLE VETERAN HOUSING PROJECT IN PRESCOTT, AZ WHICH IS A HISTORIC REHAB OF 6 OFFICERS QUARTERS (24 BEDROOMS) AND A NEW PROPERTY DEVELOPMENT OF 85 BEDROOMS. CONSTRUCTION IS TARGETED TO COMMENCE IN JUNE 2024 WITH COMPLETION BY 2025.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Peck Secretary | OfficerTrustee | 15 | $0 |
Lori Allgood COO | OfficerTrustee | 35 | $0 |
Joseph A Czyzyk President & CEO | OfficerTrustee | 5 | $0 |
Daniel Warzenski Cfo/treasurer | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,424,408 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,423,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,847,478 |
| Total Program Service Revenue | $0 |
| 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 | $72,847,478 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,000,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,578 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,779 |
| Payroll taxes | $909 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,774 |
| Fees for services: Accounting | $4,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,934 |
| Advertising and promotion | $0 |
| Office expenses | $2,404 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $372,839 |
| Insurance | $190 |
| All other expenses | $0 |
| Total functional expenses | $3,403,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $878 |
| Pledges and grants receivable | $52,859,271 |
| Accounts receivable, net | $25,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $27,224,184 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,630,515 |
| Total assets | $92,739,848 |
| Accounts payable and accrued expenses | $1,039,064 |
| Grants payable | $0 |
| Deferred revenue | $1,900,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $583,000 |
| Total liabilities | $3,522,064 |
| Net assets without donor restrictions | $10,437,531 |
| Net assets with donor restrictions | $78,780,253 |
| 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 | $92,739,848 |