San Francisco Housing Development Corporation
- Assets
- $22.1m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 31
- Location
- San Francisco, CA
- Founding
- 04/1993
- Data as of
- 06/2021
- EIN
- 94-3090854
Organization Overview
San Francisco Housing Development Corporation is located in San Francisco, CA. The organization was established in 1993. 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. As of 06/2021, San Francisco Housing Development Corporation employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Francisco Housing Development Corporation 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, San Francisco Housing Development Corporation generated $8.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.5% each year . All expenses for the organization totaled $4.4m during the year ending 06/2021. While expenses have increased by 11.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AFFORDABLE HOUSING DEVELOPMENT, HOMEOWNERSHIP, HOUSING AND FINANCIAL EMPOWERMENT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENT:1) BEGAN RENOVATION OF 110 AFFORDABLE FAMILY RENTAL UNITS AT HAYES VALLEY SOUTH AND 84 AFFORDABLE FAMILY RENTAL UNITS AT HAYES VALLEY NORTH RAD SITES; 2) COMPLETED CONSTRUCTION AND OBTAINED PERMANENT FINANCING OF 455 FELL, PROVIDING 108 UNITS OF PERMANENTLY AFFORDABLE HOUSING FOR LOW-INCOME AND FORMERLY HOMELESS FAMILIES; AND 3) COMPLETED CONSTRUCTION AND OBTAINED PERMANENT FINANCING FOR 520 SHRADER STREET, PROVIDING SEVEN UNITS OF PERMANENTLY AFFORDABLE HOUSING THROUGH THE SMALL SITES PROGRAM.
FINANCIAL EMPOWERMENT AND HOUSING COUNSELING:1) SERVED 1,682 NEW CLIENTS; 2) SERVED 2,447 TOTAL CLIENTS IN VARIOUS EDUCATIONAL WORKSHOPS; AND 3) COMPLETED 867 ONE-ON-ONE COUNSELING APPOINTMENTS.
RESIDENT SERVICES:IN THE AREA OF RESIDENT SERVICES, WE PROVIDED ON-SITE COORDINATION OF SERVICES AND COMMUNITY BUILDING ACTIVITIES AND EVENTS FOR 825 HOUSEHOLDS ACROSS SIX AFFORDABLE HOUSING SITES, COMPRISING OVER 1,500 RESIDENTS.
ECONOMIC DEVELOPMENT:1) CONTINUED TO SUPPORT A DOZEN SMALL BUSINESSES ACROSS 32,000 SQUARE FEET OF NEIGHBORHOOD RETAIL; 2) PROGRAMMED GROUND-FLOOR RETAIL SPACE FOR NEW MIXED-USE DEVELOPMENT SITES; AND 3) CONTINUED TO REVISE PLANS FOR POTENTIAL RE-ACTIVATION OF AN IMPORTANT COMMUNITY FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David J Sobel CEO | Officer | 40 | $180,000 |
Tom Kostosky Inter Dir. Real Estate Dev | 40 | $124,321 | |
Piotr Kodzis CFO | Officer | 35 | $34,999 |
Thor Kaslofsky Chair | OfficerTrustee | 3 | $0 |
Daniel Y Wong Vice Chair | OfficerTrustee | 1 | $0 |
Ben Golvin Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $50,627 |
| Related organizations | $162,000 |
| Government grants | $2,201,592 |
| All other contributions, gifts, grants, and similar amounts not included above | $996,219 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,410,438 |
| Total Program Service Revenue | $5,502,487 |
| Investment income | $126 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $24,662 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,937,713 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $278,501 |
| Compensation of current officers, directors, key employees. | $42,190 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,635,617 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $131,486 |
| Payroll taxes | $152,699 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,872 |
| Fees for services: Accounting | $133,502 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $957,393 |
| Advertising and promotion | $3,871 |
| Office expenses | $37,966 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,666 |
| Travel | $778 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $225,204 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $187,893 |
| Insurance | $95,838 |
| All other expenses | $114,307 |
| Total functional expenses | $4,377,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $794,302 |
| Savings and temporary cash investments | $2,178,567 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $732,866 |
| 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 | $56,883 |
| Net Land, buildings, and equipment | $10,797,579 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,318,448 |
| Intangible assets | $0 |
| Other assets | $5,187,305 |
| Total assets | $22,065,950 |
| Accounts payable and accrued expenses | $482,304 |
| Grants payable | $0 |
| Deferred revenue | $387,206 |
| 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 | $9,500,565 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $257,146 |
| Total liabilities | $10,627,221 |
| Net assets without donor restrictions | $10,958,787 |
| Net assets with donor restrictions | $479,942 |
| 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 | $22,065,950 |
Grants Awarded
Over the last fiscal year, San Francisco Housing Development Corporation has awarded $26,909 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: GENERAL SUPPORT | $14,500 |
San Francisco, CA PURPOSE: GENERAL SUPPORT | $12,409 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that San Francisco Housing Development Corporation has recieved totaling $253,741.
| Awarding Organization | Amount |
|---|---|
Consumer Credit Counseling Service Of San Francisco Concord, CA PURPOSE: HOUSING COUNSELING & EDUCATION | $113,100 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $105,641 |
Martin Foundation Inc Naples, FL PURPOSE: GREATEST NEED | $25,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Housing and Transportation | $10,000 |
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 |