California Community Reinvestment Corporation
- Assets
- $201.8m
- Revenue
- $10.5m
- Investments
- $27.3m
- Employees
- 27
- Location
- Glendale, CA
- Founding
- 05/1989
- Data as of
- 09/2022
- EIN
- 95-4207717
Organization Overview
California Community Reinvestment Corporation is located in Glendale, CA. The organization was established in 1989. 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 09/2022, California Community Reinvestment Corporation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California Community Reinvestment 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 09/2022, California Community Reinvestment Corporation generated $10.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $12.0m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 7 years. 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
THE ORGANIZATION WILL INCREASE THE AVAILABILITY OF AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES, SENIORS AND RESIDENTS WITH SPEICAL NEEDS THORUGHOUT CALIFORNIA BY FACILITATING PRIVATE CAPITAL FLOW TO DEVELOPERS OF AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCING AND RELATED SERVICES FOR THE DEVELOPMENT OF AFFORDABLE HOUSING UNITS PRIMARILY FOR LOW AND VERY LOW INCOME FAMILIES IN THE STATE OF CALIFORNIA.
PROVIDING SCHOLARSHIPS FOR QUALIFIED HOUSING RESIDENTS
PROVIDING GRANTS TO SUPPORT CLIENTS TO LAUNCH, SUPPORT, OR EXPAND PLATFORMS FOR RESIDENT SERVICES WITH BRIDGING THE DIGITAL DIVIDE AS A GUIDING MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark J Glasky Board Member, Executive Committee | Trustee | 2 | $0 |
Thomas Vandiver Board Member, Audit Committee | Trustee | 2 | $0 |
Lisa Gutierrez Board Chair, Executive Committee | Trustee | 2 | $0 |
Robin Hughes Board Member | Trustee | 2 | $0 |
Janet Garufis Board Member | Trustee | 2 | $0 |
Steve Herman Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Andrea Vogel Legal Services | 9/29/22 | $179,583 |
Dentons Us Llp Legal Services | 9/29/22 | $129,639 |
The Paulsen Group Headhunter | 9/29/22 | $124,175 |
Zrg Partners Llc Headhunter | 9/29/22 | $105,825 |
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 | $67,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $67,000 |
| Total Program Service Revenue | $10,144,588 |
| Investment income | $332,513 |
| 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 | $10,544,101 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| Grants and other assistance to domestic individuals. | $42,055 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,715,791 |
| Compensation of current officers, directors, key employees. | $484,393 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,466,619 |
| Pension plan accruals and contributions | $285,781 |
| Other employee benefits | $297,007 |
| Payroll taxes | $255,274 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $156,233 |
| Fees for services: Accounting | $146,764 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $368,342 |
| Advertising and promotion | $46,500 |
| Office expenses | $178,805 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $252,787 |
| Travel | $55,588 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,650 |
| Interest | $4,841,070 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,257 |
| Insurance | $128,728 |
| All other expenses | $0 |
| Total functional expenses | $12,015,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,360,602 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,126,579 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $142,803,849 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $124,635 |
| Net Land, buildings, and equipment | $38,602 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $27,336,705 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,004,669 |
| Total assets | $201,795,641 |
| Accounts payable and accrued expenses | $1,328,598 |
| Grants payable | $0 |
| Deferred revenue | $5,980,518 |
| 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 | $124,572,261 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $514,085 |
| Total liabilities | $132,395,462 |
| Net assets without donor restrictions | $68,673,130 |
| Net assets with donor restrictions | $727,049 |
| 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 | $201,795,641 |
Grants Awarded
Over the last fiscal year, California Community Reinvestment Corporation has awarded $100,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOUSING AUTHORITY OF THE COUNTY OF SANTA BARBARA PURPOSE: BRIDGING THE DIGITAL DIVIDE | $50,000 |
HOPE THROUGH HOUSING FOUNDATION PURPOSE: BRIDGING THE DIGITAL DIVIDE | $25,000 |
COMMUNITY CORP OF SANTA MONICA PURPOSE: BRIDGING THE DIGITAL DIVIDE | $25,000 |