Corporation For Better Housing
- Assets
- $399.2m
- Revenue
- $20.9m
- Investments
- $0.0
- Employees
- 3
- Location
- Woodland Hills, CA
- Founding
- 03/1996
- Data as of
- 12/2022
- EIN
- 95-4550322
Organization Overview
Corporation For Better Housing is located in Woodland Hills, CA. The organization was established in 1996. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Corporation For Better Housing employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corporation For Better 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 12/2022, Corporation For Better Housing generated $20.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $9.1m 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ASSIST IN THE DEVELOPMENT AND IMPROVEMENT OF LOW-INCOME HOUSING IN THE UNITED STATES, PRINCIPALLY IN THE STATE OF CALIFORNIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS DEVELOPED 4,000 AFFORDABLE HOUSING UNITS IN 18 COUNTIES IN CALIFORNIA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Koester Executive Dir. | OfficerTrustee | 40 | $364,946 |
John Eleftheriou CEO | OfficerTrustee | 1 | $0 |
Mike Ismail Director | Trustee | 1 | $0 |
Rob Tidd Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Integrated Community Development Llc Consulting | 12/30/18 | $340,000 |
Brancart & Brancart Legal | 12/30/18 | $150,000 |
Kavigem Inc Consulting | 12/30/18 | $174,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $737,503 |
| 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 | $737,503 |
| Total Program Service Revenue | $19,870,052 |
| Investment income | $321,266 |
| 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 | $20,928,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $382,723 |
| Compensation of current officers, directors, key employees. | $95,681 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,588 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $102,019 |
| Payroll taxes | $25,437 |
| Fees for services: Management | $370,766 |
| Fees for services: Legal | $198,554 |
| Fees for services: Accounting | $53,602 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,590 |
| Advertising and promotion | $357 |
| Office expenses | $182,615 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $47,039 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $298,068 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $187,495 |
| Insurance | $165,410 |
| All other expenses | $99,594 |
| Total functional expenses | $9,106,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,720,698 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,640,870 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,114,323 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,403 |
| Net Land, buildings, and equipment | $9,240,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $325,397,227 |
| Intangible assets | $0 |
| Other assets | $55,001,142 |
| Total assets | $399,165,553 |
| Accounts payable and accrued expenses | $274,530 |
| Grants payable | $0 |
| Deferred revenue | $2,984 |
| 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 | $20,250,750 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $316,943,655 |
| Total liabilities | $337,471,919 |
| Net assets without donor restrictions | $0 |
| 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 | $61,693,634 |
| Total liabilities and net assets/fund balances | $399,165,553 |