Century Housing Corporation
- Assets
- $608.9m
- Revenue
- $37.5m
- Investments
- $0.0
- Employees
- 98
- Location
- Culver City, CA
- Founding
- 02/1996
- Data as of
- 12/2022
- EIN
- 95-4540326
Organization Overview
Century Housing Corporation is located in Culver City, CA. The organization was established in 1996. 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 12/2022, Century Housing Corporation employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Century 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 12/2022, Century Housing Corporation generated $37.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $17.7m during the year ending 12/2022. While expenses have increased by 6.8% 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.
Since 2014, Century Housing Corporation has awarded 38 individual grants totaling $733,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CENTURY HOUSING INVESTS IN HOMES FOR LOW INCOME INDIVIDUALS AND FAMILIES, INCLUDING VETERANS AND THE HOMELESS SO THEY MAY HAVE A DIGNIFIED LIVING ENVIRONMENT AND ACHIEVE ECONOMIC INDEPENDENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE RENTAL HOUSING PROPERTY EXPENSES:CENTURY HOUSING OWNS AND MANAGES HOUSING UNITS FOR THE BENEFIT OF LOW-TO-MODERATE INCOME HOUSEHOLDS. RENTAL RATES ARE BASED ON INCOME.LENDING EXPENSES: CENTURY PROVIDES LENDING PRODUCTS FOR ACQUISITION AND REHABILITATION, NEW CONSTRUCTION AND PERMANENT FINANCING OF AFFORDABLE HOUSING THROUGHOUT THE STATE OF CALIFORNIA, BUT PRIMARILY IN SOUTHERN CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie Hawkins Director | Trustee | 1 | $16,300 |
Daniel Lopez Director | Trustee | 1 | $16,300 |
Darroch F Young Director | Trustee | 1 | $12,550 |
Louise Oliver Director | Trustee | 1 | $16,300 |
Christopher Cameron Director | Trustee | 1 | $16,300 |
Yvonne Burke Director | Trustee | 1 | $16,300 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Warner Norcross Judd Llp Legal | 12/30/21 | $222,609 |
Novogradac & Company Llp Accounting, Assurance | 12/30/21 | $155,632 |
Edgewood Partners Insurance Insurance | 12/30/21 | $151,844 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $525,000 |
| 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 | $525,000 |
| Total Program Service Revenue | $33,720,272 |
| Investment income | $2,762,313 |
| 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 | $37,466,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $283,750 |
| 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. | $4,169,844 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,200,586 |
| Pension plan accruals and contributions | $812,864 |
| Other employee benefits | $9,518 |
| Payroll taxes | $807,566 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95,753 |
| Fees for services: Accounting | $91,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $126,743 |
| Fees for services: Other | $144,588 |
| Advertising and promotion | $109,490 |
| Office expenses | $682,225 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,729 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,200 |
| Interest | $8,135,949 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $550,235 |
| Insurance | $146,365 |
| All other expenses | $35,128 |
| Total functional expenses | $17,660,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $26,529,749 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,201,250 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $415,918,446 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $98,104 |
| Net Land, buildings, and equipment | $6,462,874 |
| Investments—publicly traded securities | $143,582,051 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,111,822 |
| Total assets | $608,904,296 |
| Accounts payable and accrued expenses | $7,392,507 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $65,779,125 |
| Unsecured mortgages and notes payable | $248,382,473 |
| Other liabilities | $5,311,286 |
| Total liabilities | $326,865,391 |
| Net assets without donor restrictions | $249,321,313 |
| Net assets with donor restrictions | $32,717,592 |
| 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 | $608,904,296 |
Grants Awarded
Over the last fiscal year, Century Housing Corporation has awarded $166,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY HOUSING IMPROVEMENT SYSTEMS AND PLANNING ASSOCIATION INC PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION | $10,000 |
OPERATION DIGNITY INC PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION | $10,000 |
CENTURY VILLAGES PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION | $50,000 |
MEXICAN AMERICAN BAR FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION | $6,000 |
VENICE COMMUNITY HOUSING CORPORATION PURPOSE: EVENT DONATION | $30,000 |
CALIFORNIA COALITION FOR RURAL HOUSING PROJECT PURPOSE: EVENT DONATION | $30,000 |