Oakland Housing Initiatives Inc
- Assets
- $605.2k
- Revenue
- $45.3k
- Investments
- $1.3k
- Employees
- 0
- Location
- Oakland, CA
- Founding
- 08/1995
- Data as of
- 12/2023
- EIN
- 94-3137613
Organization Overview
Oakland Housing Initiatives Inc is located in Oakland, CA. The organization was established in 1995. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oakland Housing Initiatives Inc 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 12/2023, Oakland Housing Initiatives Inc generated $45.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $41.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVES AS A MANAGING GENERAL PARTNER IN FOOTHILL FAMILY APARTMENTS, L.P. ("FOOTHILL"), AND A SPECIAL LIMITED PARTNER OF LAKESIDE SENIOR APARTMENTS, L.P. ("LAKESIDE"). BOTH OWN AND OPERATE AFFORDABLE HOUSING APARTMENT COMPLEXES IN OAKLAND, CALIFORNIA. OHI EARNS A PARTNERSHIP MANAGEMENT FEE AS COMPENSATION FOR MANAGING THE ACTIVITIES OF FOOTHILL. THE PARTNERSHIP MANAGEMENT FEE AMOUNTS TO $10,000 ANNUALLY, AND IS INCREASED BY THE SAME PERCENTAGE AS THE INCREASE IN THE MEDIAN INCOME FOR THE AREA WHERE THE PROJECT IS LOCATED. PURSUANT TO THE TERMS OF THE JOINT DEVELOPMENT AGREEMENT ENTERED IN FEBRUARY 2008 BY AND BETWEEN OAKLAND HOUSING INITIATIVES AND CHRISTIAN CHURCH HOMES OF NORTHERN CALIFORNIA, THE ORGANIZATION EARNS 20% OF PARTNERSHIP AND INCENTIVE MANAGEMENT FEE ON THE HARRISON STREET SENIOR HOUSING ASSOCIATES, L.P.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Wells President | 0.3 | $0 | |
Roy Schweyer Vice President | 0.3 | $0 | |
Bernard Deasy Treasurer | 0.3 | $0 | |
Carla Dartis Secretary | 0.3 | $0 | |
Harold Davis Director | 0.3 | $0 | |
Don Falk Director | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $23,754 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,529 |
| Total Revenue | $45,283 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $425 |
| Printing and publications | $0 |
| Other expenses | $20,426 |
| Total operating and administrative expenses | $41,281 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $41,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $424,154 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $28,315 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,321 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $151,406 |
| Total assets | $605,196 |
| Accounts payable and accrued expenses | $6,591 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,591 |