Burbank Housing Corporation
- Assets
- $47.6m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Burbank, CA
- Founding
- 12/1998
- Data as of
- 12/2021
- EIN
- 95-2627136
Organization Overview
Burbank Housing Corporation is located in Burbank, 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. As of 12/2021, Burbank Housing Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Burbank 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.
For the year ending 12/2021, Burbank Housing Corporation generated $6.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $8.6m during the year ending 12/2021. While expenses have increased by 1.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP, IMPROVE AND PRESERVE HOUSING FOR LOW AND MODERATE INCOME PERSONS IN THE CITY OF BURBANK, CA, THROUGH ACQUISITION, REHABILITATION, DEMOLITION, NEW CONSTRUCTION, PROPERTY MANAGEMENT SERVICES AND OTHER ACTIVITIES ASSOCIATED WITH SUCH PURPOSE; AND TO PROVIDE COMMUNITY AND FAMILY SUPPORT SERVICES TO RESIDENTS OF THE CITY OF BURBANK, CA THAT INCLUDES SUCH PERSONLS OF LOW AND MODERATE INCOME, AND THAT INCLUDES BUT IS NOT LIMITED TO COMMUNITY SERVICE PROGRAMS AS THE OPERATION OF ACTIVITY, FAMILY RESOURCES AND CHILD CARE CENTERS. THE CORPORATION'S CHILD CARE CENTER PROGRAMS SHALL ALSO BE MADE AVAILABLE SECONDARILY TO PERSONS AND THEIR IMMEDIATE FAMILY MEMBERS WHO ARE EMPLOYED IN THE CITY OF BURBANK, CA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION TRANSFORMS POORLY MAINTAINED BUILDINGS TO SAFE, ATTRACTIVE AND AFFORDABLE HOUSING AND WORKS WITH THE CITY TO ACQUIRE THESE PROPERTIES,. THE PROGRAM OFFERS AFFORDABLE HOUSING FOR INDIVIDUALS AND FAMILIES WITH LOW TO MODERATE INCOME.
THE ORGANIZATION OPERATES TWO CHILD CARE CENTERS TO PROVIDE CHILD CARE SERVICES TO ITS TENANTS. THE CHILD CARE CENTERS PROVIDE 180 SPACES OF CHILD CARE FOR CHILDREN BETWEEN THE AGES OF 6 WEEKS TO 5 YEARS AND FOCUS ON PROVIDING AN EARLY FOUNDATIONS CURRICULUM AND PURPOSEFUL PLAY TO CULTIVATE VALUABLE LEARNING SKILLS. TWENTY PERCENT OF THE SPACES AT THE ORGANIZATION'S CHILD CARE CENTERS ARE RESERVED AT DISCOUNTED TUITION RATES FOR LOWER-INCOME FAMILIES THAT QUALIFY.
THE ORGANIZATION HAS PARTNERED WITH THE BOYS AND GIRLS CLUB (B&GC) OF BURBANK AND GREATER EAST VALLEY TO PROVIDE A FREE AFTER-SCHOOL PROGRAM INCLUDING TRANSPORATION AND A LOW FEE SUMMER PROGRAM FOR THE CHILDREN IN BHC PROPERTIES. THE B&GC PROGRAMS PROVIDE HOMEWORK HELP, CREATIVE ARTS, AND ENRICHMENT PROGRAMS FOR CHILDREN (AGES 6-14 YEARS OLD), BHC HAS ALSO PARTNERED WITH PROVIDENCE COMMUNITY HEALTH TO OFFER FREE HEATH AND WELLNESS SERVICES TO BHC RESIDENTS AND SURROUNDING NEIGHBORHOODS. IN ADDITION, BHC HAS PARTNERED WITH HOME AGAIN LOS ANGESLES (FORMERLY FAMILY PROMISE) SPONSORED BY THE CITY OF BURBANK TO PROVIDE EDUCATIONAL CLASSES FOR RESIDENTS SUCH AS MONEY MANAGEMENT, ESL CLASSES, AND IMMIGRATION WORKSHOPS. BHC HOSTS EVENTS FOR OUR RESIDENTS IN THE ACTITY CENTERS INCLUDING HOLIDAY AND RESIDENT GET-TOGETHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sylvia Moreno Executive Dir. | Officer | 40 | $124,017 |
Raha Arnold Director | Officer | 40 | $110,693 |
Alisa Cunningham Secretary | OfficerTrustee | 3 | $0 |
Chris Welker President | OfficerTrustee | 4 | $0 |
Ruth Martinez-Baenen Treasurer | OfficerTrustee | 3 | $0 |
Victory Georgino Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $125,365 |
| All other contributions, gifts, grants, and similar amounts not included above | $97,088 |
| Noncash contributions included in lines 1a–1f | $3,558 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $222,453 |
| Total Program Service Revenue | $6,134,317 |
| Investment income | $10,890 |
| 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 | $6,370,585 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $32,626 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $234,710 |
| Compensation of current officers, directors, key employees. | $16,430 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,012,275 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $162,343 |
| Payroll taxes | $444,651 |
| Fees for services: Management | $521,479 |
| Fees for services: Legal | $16,826 |
| Fees for services: Accounting | $43,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,949 |
| Advertising and promotion | $1,594 |
| Office expenses | $113,641 |
| Information technology | $49,287 |
| Royalties | $0 |
| Occupancy | $16,067 |
| Travel | $32,592 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,891 |
| Interest | $1,347,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,504,156 |
| Insurance | $242,987 |
| All other expenses | $221,826 |
| Total functional expenses | $8,626,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,548,216 |
| Savings and temporary cash investments | $3,738,135 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $242,502 |
| 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 | $49,427 |
| Net Land, buildings, and equipment | $42,010,807 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,774 |
| Total assets | $47,643,861 |
| Accounts payable and accrued expenses | $308,828 |
| Grants payable | $0 |
| Deferred revenue | $18,638 |
| 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 | $59,134,427 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,524,064 |
| Total liabilities | $76,985,957 |
| Net assets without donor restrictions | -$29,366,199 |
| Net assets with donor restrictions | $24,103 |
| 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 | $47,643,861 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Burbank Housing Corporation has recieved totaling $25,018.
| Awarding Organization | Amount |
|---|---|
Burbank Health Care Foundation Burbank, CA PURPOSE: GRANT | $25,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $18 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles Apartments Housing Corporation Hayward, CA | $0 | $319,066 |
Satellite Affordable Housing Associates Berkeley, CA | $83,294,736 | $13,591,508 |
Rhf Foundation Long Beach, CA | $215,917,223 | $14,903,975 |
Sheltercare Eugene, OR | $4,357,138 | $9,135,740 |
Midpen Resident Services Corporation Foster City, CA | $3,702,334 | $11,407,168 |
Bridge Property Management Company San Francisco, CA | $1,233,636 | $9,360,308 |
Burbank Housing Corporation Burbank, CA | $47,643,861 | $6,370,585 |
Habitat For Humanity San Fernando/Santa Clarita Valleys Woodland Hills, CA | $1 | $4,168,206 |
Do Good Multnomah Portland, OR | $6,858,210 | $9,987,432 |
Satellite Aha Development Inc Berkeley, CA | $17,466,494 | $5,909,155 |
Housing Trust Silicon Valley San Jose, CA | $250,989,111 | $21,448,557 |
Western Community Housing Inc Costa Mesa, CA | $106,078,970 | $11,023,596 |