Satellite Aha Development Inc
- Assets
- $18.2m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Berkeley, CA
- Founding
- 02/1998
- Data as of
- 12/2022
- EIN
- 94-3248729
Organization Overview
Satellite Aha Development Inc is located in Berkeley, CA. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Satellite Aha Development 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 12/2022, Satellite Aha Development Inc generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $9.2m during the year ending 12/2022. While expenses have increased by 14.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BENEFIT & SUPPORT SATELLITE AFFORDABLE HOUSING ASSOCIATES IN CARRYING OUT ITS PURPOSES BY (1) PROVIDING AFFORDABLE HOUSING FOR LOW INCOME PERSONS & (2) BY SERVING AS A GENERAL PARTNER IN LIMITED PARTNERSHIPS WHICH OWN AND OPERATE HOUSING FOR THE BENEFIT OF LOW INCOME PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION SERVES AS A GENERAL PARTNER IN VARIOUS LIMITED PARTNERSHIPS, A MEMBER OR SOLE OWNER IN VARIOUS LIMITED LIABILITY COMPANIES, AND A MAJORITY OWNER IN ONE C CORPORATION. THESE VARIOUS ORGANIZATIONS EITHER OWN AND OPERATE LOW-INCOME HOUSING PROJECTS OR SERVE AS A GENERAL PARTNER TO AN ORGANIZATION THAT OWNS AND OPERATES A LOW-INCOME HOUSING PROJECT.
THE CORPORATION OWNS AND OPERATES 3 BUILDINGS, COMPRISING OF 142 UNITS OF LOW-INCOME HOUSING IN OAKLAND, BERKELEY, AND CONCORD, CALIFORNIA.
THE CORPORATION PROVIDES GRANTS OF GENERAL SUPPORT TO SATELLITE AFFORDABLE HOUSING ASSOCIATES, A RELATED CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Friedland CEO | Officer | 0.1 | $0 |
Steve Herman VP Of Finance | Officer | 0.1 | $0 |
Mike Jacob President | OfficerTrustee | 0.1 | $0 |
Anthony Barron Secretary | OfficerTrustee | 0.1 | $0 |
Greg Chin Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,267,418 |
| Government grants | $2,993,019 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,791 |
| Noncash contributions included in lines 1a–1f | $21,791 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,282,228 |
| Total Program Service Revenue | $1,456,146 |
| Investment income | $16,167 |
| 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 | $5,754,595 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $137,199 |
| 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 | $633,809 |
| Pension plan accruals and contributions | $17,136 |
| Other employee benefits | $104,044 |
| Payroll taxes | $44,176 |
| Fees for services: Management | $818,152 |
| Fees for services: Legal | $12,580 |
| Fees for services: Accounting | $61,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,694 |
| Advertising and promotion | $0 |
| Office expenses | $97,500 |
| Information technology | $51,340 |
| Royalties | $0 |
| Occupancy | $1,254,209 |
| Travel | $4,720 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,403 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $515,225 |
| Insurance | $59,835 |
| All other expenses | $12,600 |
| Total functional expenses | $9,230,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,694 |
| Savings and temporary cash investments | $3,933,231 |
| Pledges and grants receivable | $7,857 |
| Accounts receivable, net | $40,014 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $476,438 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,815 |
| Net Land, buildings, and equipment | $11,917,153 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,741 |
| Other assets | $1,438,758 |
| Total assets | $18,174,701 |
| Accounts payable and accrued expenses | $2,060,530 |
| Grants payable | $0 |
| Deferred revenue | $1,740 |
| 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 | $13,577,892 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,134,790 |
| Total liabilities | $81,774,952 |
| Net assets without donor restrictions | -$63,600,251 |
| 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 | $18,174,701 |