C A R Housing Affordability Fund
- Assets
- $2.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 07/2002
- Data as of
- 12/2021
- EIN
- 91-2157935
Organization Overview
C A R Housing Affordability Fund is located in Los Angeles, CA. The organization was established in 2002. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. C A R Housing Affordability Fund 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 12/2021, C A R Housing Affordability Fund generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $763.3k during the year ending 12/2021. While expenses have increased by 19.4% per year over the past 7 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 2014, C A R Housing Affordability Fund has awarded 52 individual grants totaling $2,565,000. 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
RAISE AND DISTRIBUTE FUNDS AND PARTNER WITH OTHER GROUPS TO PROMOTE HOUSING AND HOMEOWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $608,755 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES AND PROVIDE ASSISTANCE TO QUALIFIED FIRST-TIME CALIFORNIA HOMEBUYERS.GRANTS TO ORGANIZATIONS=====================DURING 2021, C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $209,205 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES.GRANTS TO INDIVIDUALS=====================DURING 2021, C.A.R.'S HOUSING AFFORDABILITY FUND'S HOME ESSENTIAL GRANT PROGRAM PROVIDED $399,550 TO OVER 300 QUALIFIED FIRST-TIME CALIFORNIA HOMEBUYERS BY ISSUING A LOWE'S GIFT CARD UP TO $1,250 TO PURCHASE APPLIANCES FOR THEIR HOME. DUE TO LIMITED AVAILABILITY, FUNDS WERE DISTRIBUTED ON A FIRST COME/FIRST SERVED BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Linn Chair | OfficerTrustee | 2.5 | $0 |
Greg Carlsted Vice Chair | OfficerTrustee | 2.5 | $0 |
Carol M Luckenbach Vice Chair | OfficerTrustee | 2.5 | $0 |
Shauna Love Assn. Exec. (voting) | Trustee | 2.5 | $0 |
Deborah L Giometti Member | Trustee | 2.5 | $0 |
Denise G Welsh Member | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,000,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $418,378 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,418,378 |
| Total Program Service Revenue | $0 |
| Investment income | $62,967 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,191 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,525,536 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $209,205 |
| Grants and other assistance to domestic individuals. | $399,550 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $145,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,774 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $763,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,039,794 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $1,643,912 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10 |
| Total assets | $2,683,716 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $110,320 |
| 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 | $0 |
| Total liabilities | $110,320 |
| Net assets without donor restrictions | $2,573,396 |
| 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 | $2,683,716 |
Grants Awarded
Over the last fiscal year, C A R Housing Affordability Fund has awarded $200,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNA DESERT AOR PURPOSE: CLOSING COST OR DOWNPAYMENT PROGRAM WHICH OFFERS $2000 GRANT PER APPLICANT | $50,000 |
San Jose, CA PURPOSE: FIRST-TIME HOMEBUYER DOWN PAYMENT ASSISTANCE | $50,000 |
Richmond, CA PURPOSE: CLOSING COSTS, DOWN PAYMENT ASSISTANCE, OR OTHER FINANCIAL NEEDS TO ENSURE THE CLOSE OF ESCROW ON A BUYERS FIRST HOME. | $50,000 |
TOULUMNE COUNTY AOR PURPOSE: INSURANCE PREMIUM ASSISTANCE IN TUOLUMNE COUNTY. | $25,000 |
Corona, CA PURPOSE: PROFESSIONAL HOME INSPECTION ASSISTANCE | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that C A R Housing Affordability Fund has recieved totaling $1,000,000.
| Awarding Organization | Amount |
|---|---|
California Association Of Realtors Inc Los Angeles, CA PURPOSE: ADVOCACY | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Farmworker Housing Development Corporation Woodburn, OR | $38,489,152 | $50,603,314 |
Trillium Family Services Inc Portland, OR | $33,636,743 | $50,184,616 |
Transition Projects Inc Portland, OR | $12,685,121 | $30,379,719 |
Merritt Island Rhf Housing Inc Long Beach, CA | $16,525,724 | $11,657,379 |
Bay Area Community Services Housing Corporation Oakland, CA | $32,429,080 | $14,277,346 |
Bonita House Inc Oakland, CA | $9,249,127 | $8,199,121 |
Bethel Lutheran Home Inc Selma, CA | $6,053,486 | $7,514,806 |
Childrens Receiving Home Of Sacramento Sacramento, CA | $10,913,892 | $5,213,560 |
Lunalilo Home Honolulu, HI | $16,842,204 | $3,576,516 |
Next Step Strategies Inc Clackamas, OR | $107,122 | $4,007,465 |
Serra Residential Center Union City, CA | $6,900,354 | $5,886,355 |
Mid-Peninsula Baker Park Inc Foster City, CA | $11,504,920 | $3,244,153 |