Heritage Housing Partners
- Assets
- $43.2m
- Revenue
- $43.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Pasadena, CA
- Founding
- 04/1999
- Data as of
- 12/2023
- EIN
- 95-4706651
Organization Overview
Heritage Housing Partners is located in Pasadena, CA. The organization was established in 1999. 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 12/2023, Heritage Housing Partners employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Housing Partners 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, Heritage Housing Partners generated $43.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 50.4% each year . All expenses for the organization totaled $38.7m during the year ending 12/2023. While expenses have increased by 54.3% per year over the past 9 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
TO PROMOTE HISTORIC PRESERVATION AND NEIGHBORHOOD REVITALIZATION BY DEVELOPING, OWNING, AND OPERATING RENTAL OR FOR SALE LOW-INCOME HOUSING PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WORKED ON THE PREDEVELOPMENT, REHABILITATION, AND NEW CONSTRUCTION OF OVER 250 UNITS SOLD PRIMARILY TO FIRST TIME LOW TO MODERATE INCOME HOME BUYERS IN PASADENA, CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Rodriguez President | OfficerTrustee | 2.5 | $0 |
Richard Bruckner 1st Vice President | OfficerTrustee | 1 | $0 |
John Mcaustin 2nd Vice President | OfficerTrustee | 1 | $0 |
Karen Davis Treasurer | OfficerTrustee | 1 | $0 |
Nancy Spears Secretary | OfficerTrustee | 1 | $0 |
Robert Carpenter Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,539,525 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,022 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,585,547 |
| Total Program Service Revenue | $40,431,492 |
| Investment income | $40,839 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $114,695 |
| 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 | $43,172,573 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $219,357 |
| Compensation of current officers, directors, key employees. | $54,839 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $409,527 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,000 |
| Payroll taxes | $45,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,181 |
| Fees for services: Accounting | $101,782 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,196 |
| Advertising and promotion | $1,762 |
| Office expenses | $28,236 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,385 |
| Travel | $2,175 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $422,889 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,577 |
| Insurance | $70,075 |
| All other expenses | $0 |
| Total functional expenses | $38,723,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $311,413 |
| Savings and temporary cash investments | $1,206,378 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,257,819 |
| Inventories for sale or use | $21,258,710 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,123,171 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,168 |
| Total assets | $43,203,659 |
| Accounts payable and accrued expenses | $1,977,202 |
| Grants payable | $0 |
| Deferred revenue | $14,985,295 |
| 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 | $32,032,830 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $48,995,327 |
| Net assets without donor restrictions | -$5,791,668 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $43,203,659 |