Corporate Fund For Housing
- Assets
- $84.3m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 09/1990
- Data as of
- 12/2023
- EIN
- 95-3935881
Organization Overview
Corporate Fund For Housing is located in Long Beach, CA. The organization was established in 1990. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corporate Fund For Housing 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, Corporate Fund For Housing generated $9.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $8.5m during the year ending 12/2023. While expenses have increased by 1.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF SENIOR AND LOW INCOME AFFORDABLE HOUSING TO NEEDY INDIVIDUALS. CORPORATE FUND FOR HOUSING IS AN OWNER OF A MOBILE HOME PARK PROVIDING AFFORDABLE HOUSING IN FURTHERANCE OF ITS PURPOSE TO LESSEN THE BURDENS OF GOVT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF SENIOR AND LOW INCOME AFFORDABLE HOUSING TO NEEDY INDIVIDUALS. CORPORATE FUND FOR HOUSING IS AN OWNER OF A MOBILE HOME PARK PROVIDING AFFORDABLE HOUSING IN FURTHERANCE OF ITS PURPOSE TO LESSEN THE BURDENS OF GOVT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Garcia President | OfficerTrustee | 0 | $0 |
Elaine Winer Treasurer | OfficerTrustee | 0 | $0 |
Susie Powers Secretary | OfficerTrustee | 0.01 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Core1 Security Services Security | 12/30/23 | $344,570 |
Us Residential Group Inc Property Management | 12/30/23 | $198,724 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $9,033,050 |
| Investment income | $631,562 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,759,291 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $694,053 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,788 |
| Fees for services: Management | $297,084 |
| Fees for services: Legal | $388 |
| Fees for services: Accounting | $97,633 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $220 |
| Office expenses | $50,551 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,098,078 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,453,584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $193,922 |
| All other expenses | $208,552 |
| Total functional expenses | $8,524,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,110,530 |
| Savings and temporary cash investments | $5,732,504 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,432 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,240,749 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $76,408 |
| Net Land, buildings, and equipment | $39,460,317 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,043,522 |
| Intangible assets | $0 |
| Other assets | $21,632,087 |
| Total assets | $84,300,549 |
| Accounts payable and accrued expenses | $569,086 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $46,600,359 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,174 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,975,261 |
| Total liabilities | $75,157,880 |
| Net assets without donor restrictions | -$4,763,408 |
| Net assets with donor restrictions | $13,906,077 |
| 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 | $84,300,549 |