2024-04-15T14:15:39-05:00 2023-06-30 420714325 RSM US LLP 919 EAST MAIN STREET SUITE 1800 RICHMOND VA 23219 990 2022-07-01 770545135 HOUSING TRUST SILICON VALLEY HOUS 4087033837 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 4087033837 2024-04-12 1 ANTONIETA RAMOS 999009999 0 MEREDITH BELL P01696827 8042822121 2024-04-11 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANTONIETA RAMOS 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 69380249 0 X WWW.HOUSINGTRUSTSV.ORG X 2000 CA WE USE TRANSFORMATIVE HOUSING FINANCE AND PUBLIC AND PRIVATE PARTNERSHIPS TO CREATE MORE EQUITABLE AND AFFORDABLE COMMUNITIES. 14 14 40 18 0 0 16913530 13398570 8406033 7179861 720804 2477493 -28021 -28083 26012346 23027841 65358 160491 0 0 4588766 4913211 0 0 728439 15393735 3644220 20047859 8717922 5964487 14309919 240898899 244644739 131452341 118779685 109446558 125865054 X OUR MISSION AT HOUSING TRUST SILICON VALLEY, IS TO USE TRANSFORMATIVE HOUSING FINANCE AND PUBLIC AND PRIVATE PARTNERSHIPS TO CREATE MORE EQUITABLE AND AFFORDABLE COMMUNITIES. 0 0 3079334 9091 6611842 THE COMPETITIVE REAL ESTATE MARKET IN THE GREATER BAY AREA CREATES A CHALLENGING ENVIRONMENT FOR AFFORDABLE HOUSING DEVELOPMENT. HOUSING TRUST - WHICH MAKES MORE LOANS THAN ANY OTHER NONPROFIT HOUSING LENDER IN OUR REGION - IS HERE TO HELP. SINCE 2000, HOUSING TRUST HAS MADE LOANS TO 181 AFFORDABLE HOUSING PROJECTS, TOTALING OVER $495 MILLION IN FUNDING AND RESULTING IN 16,431 AFFORDABLE RENTAL HOMES. OUR BORROWERS ARE TYPICALLY COMMUNITY-BASED, NON-PROFIT AND MISSION ALIGNED FOR-PROFIT AFFORDABLE HOUSING DEVELOPERS WHOSE COLLECTIVE MISSION IS TO INCREASE AND PRESERVE THE AFFORDABLE HOUSING STOCK IN THE COMMUNITIES THEY SERVE, AND BY SO DOING, REVITALIZE SUCH COMMUNITIES. WE LEND IN THE GREATER BAY AREA INCLUDING ALAMEDA, CONTRA COSTA, MARIN, MONTEREY, NAPA, SACRAMENTO, SAN BENITO, SAN FRANCISCO, SAN JOAQUIN, SAN MATEO, SANTA CLARA, SANTA CRUZ, SOLANO, AND SONOMA COUNTIES. 671447 563767 SIX-FIGURE DOWN PAYMENTS CAN PUT THE DREAM OF HOMEOWNERSHIP OUT OF REACH. HOUSING TRUST OFFERS FIRST TIME HOMEBUYERS THE EDUCATION AND COUNSELING, DEFERRED INTEREST LOANS AND BELOW MARKET PURCHASE PROGRAMS THAT CAN BRING THAT DREAM CLOSER TO REALITY. HOUSING TRUST'S HOMEBUYER TEAM OFFERS ONE-ON-ONE SESSIONS THAT COVER TOPICS INCLUDING SAVING FOR A DOWN PAYMENT AND RESERVES, HOW TO SELECT AND WORK WITH REALTORS AND MORTGAGE LOAN OFFICERS AND WHAT TO EXPECT UPON CLOSING ON A NEW HOME. HOUSING TRUST'S FINANCIAL PRODUCTS REDUCE THE BURDEN OF 20% DOWN PAYMENT REQUIREMENTS AND BRIDGE THE GAP BETWEEN WHAT LOW- TO MIDDLE-INCOME BUYERS CAN AFFORD TO BORROW AND THE EQUITY REQUIRED TO DO SO. SINCE 2000 WE HAVE OFFERED HOMEBUYER DOWN PAYMENT ASSISTANCE AS DEFERRED, AMORTIZING AND EQUITY SHARE LOANS, DEPENDING ON INCOME LEVEL AND NEEDS OF THE BORROWER. OUR LOANS UNDER THESE PROGRAMS RANGE FROM $6,500 TO $250,000. WE HAVE MADE 2,593 DOWN PAYMENT ASSISTANCE LOANS TOTALING OVER $57 MILLION SINCE OUR FOUNDING. IN FY23, HOUSING TRUST PROVIDED EDUCATION AND COUNSELING TO 1,984 HOPEFUL HOMEBUYERS, MADE NINE DOWN PAYMENT ASSISTANCE LOANS. 61400 61400 IN 2023, WE OFFERED LIMITED SECURITY DEPOSIT ASSISTANCE AND ARE PHASING OUT THE PROGRAM THAT STRENGTHENED AND EXPANDED THE CAPACITY OF SOCIAL SAFETY NET PROVIDERS AND PROVIDED THE FINAL KEY TO INDIVIDUALS AND FAMILIES TO PREVENT OR EXIT HOMELESSNESS. 1713154 90000 4252 OTHER PROGRAMS. 1713154 90000 4252 5525335 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 63 0 1 40 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X JULIE MAHOWALD CFO AND HEAD OF PAR 4087033837 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 JOE ANZALONE CHAIR 4.00 X X 0 0 0 LISA GUTIERREZ FIRST/SECOND VICE-CHAIR 1.00 X X 0 0 0 KEVIN DEEBLE TREASURER 1.00 X X 0 0 0 SHARON LEE SECRETARY 1.00 X X 0 0 0 MIKE BEASLEY DIRECTOR 1.00 X 0 0 0 MARY CHANDLER DIRECTOR (UNTIL 2/1/23) 1.00 X 0 0 0 ART FATUM DIRECTOR 1.00 X 0 0 0 JONATHAN FEARN DIRECTOR 1.00 X 0 0 0 KATIE FERRICK DIRECTOR 1.00 X 0 0 0 PAPIA GAMBELIN DIRECTOR (UNTIL 2/1/23) 1.00 X 0 0 0 FIONA HSU DIRECTOR 1.00 X 0 0 0 KATIA KAMANGAR DIRECTOR (UNTIL 2/1/23) 1.00 X 0 0 0 MEG MCGRAW-SCHERER DIRECTOR 1.00 X 0 0 0 HILDA RAMIREZ DIRECTOR 1.00 X 0 0 0 CRAIG ROBINSON DIRECTOR 1.00 X 0 0 0 TIM STEELE DIRECTOR 1.00 X 0 0 0 AHMAD THOMAS DIRECTOR 1.00 X 0 0 0 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 40.00 X 408789 0 19048 JULIE MAHOWALD CHIEF FINANCIAL OFFICER 40.00 X 289968 0 30713 PRATHIT THAKER CHIEF CREDIT OFFICER 40.00 X 190142 0 22250 FATHIA MACAULEY CHIEF LENDING OFFICER 40.00 X 198143 0 24328 NAZMIN BISHOP CHIEF DEV. & COM. OFFICER 40.00 X 164220 0 31010 GUADALUPE DE LOURDES MEDINA MENDEZ HUMAN RESOURCES DIRECTOR 40.00 X 156433 0 17375 BRENT MALLOY CONTROLLER 40.00 X 145208 0 29776 STEPHANEY KIPPLE SENIOR LOAN OFFICER 40.00 X 137305 0 13681 VIVIAN VO ACCOUNTING MANAGER 40.00 X 137072 0 26029 MARTHA LOPEZ MANAGER, LOAN ADMIN 40.00 X 123478 0 22610 1950758 0 236820 13 0 1 0 RSM US LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 AUDIT AND TAX SERVICES 137340 PERKINS COIE LLP PO BOX 24643 SEATTLE WA 98124 LEGAL SERVICES 102060 2 162800 1649357 11586413 13398570 INTEREST INCOME ON LOA 531390 5097948 5097948 PROGRAM SERVICE FEE 531390 2081913 2081913 7179861 2441644 2441644 46354780 46318931 35849 35849 35849 0 162800 33477 -33477 -33477 OTHER INCOME 900099 5394 5394 5394 23027841 7179861 0 2449410 160491 160491 1308266 574111 553324 180831 2743400 1595888 897125 250387 172145 88898 64634 18613 415588 252699 120538 42351 273812 152579 89673 31560 58062 43254 14808 172055 172055 38035 38035 798912 492683 185351 120878 7304 650 6654 70902 33647 28106 9149 287502 164715 83991 38796 42312 23343 15275 3694 30017 17311 10399 2307 1729083 1729083 88627 50661 25989 11977 76951 750 76201 DONATIONS & SPONSORSHIP 29473 28473 1000 214985 116099 87644 11242 8717922 5525335 2464148 728439 598 10002 50420441 64908130 4125000 277500 512283 512744 163715358 154295208 295806 225820 535500 401686 89782 133814 21739631 24281521 240898899 244644739 1697920 1501809 9611549 9915453 4838212 5034083 13364203 11816733 84632358 84788960 17308099 5722647 131452341 118779685 X 60768910 82875276 48677648 42989778 109446558 125865054 240898899 244644739 X 14309919 218077 1890500 X 0 1 X 1 1 1 X 8548310 15224448 11287252 16913530 13398570 65372110 8548310 15224448 11287252 16913530 13398570 65372110 39491103 25881007 968523 826677 166058 445941 2441644 4848843 42349 48415 2274 5421 5394 103853 70324806 38643409 0.36800 0.49750 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2018 AMOUNT: $ 2,507. 2019 AMOUNT: $ 1,999. 2020 AMOUNT: $ 2,274. 2021 AMOUNT: $ 5,421. 2022 AMOUNT: $ 5,394. FUNDRAISING INCOME - 2018 AMOUNT: $ 39,842. 2019 AMOUNT: $ 46,416. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 48000 48000 8665364 8713364 585668 146417 0 0 630143 513037 1000000 585668 2728848 4093272 88000 48000 48000 48000 232000 157536 128259 250000 146417 682212 1023318 0 4838212 25110234 24914363 5034083 1 X 535500 401686 133814 133814 NON-RECOURSE PARTICIPANT LOAN CAPITAL 5722647 5722647 X 25102103 218077 3720 1890500 2112297 22989806 38035 38035 23027841 6826584 3720 -1857023 -1853303 8679887 38035 38035 8717922 PART IV, LINE 2B: IN MARCH 2020, HOUSING TRUST ENTERED INTO A SERVICES AGREEMENT WITH GOOGLE ENDEAVOR, LLC, A WHOLLY OWNED FUND OF GOOGLE LLC (GOOGLE). GOOGLE HAS COMMITTED $71.9 MILLION TO CREATE A SEPARATE LAUNCH INITIATIVE FUND, AN AFFORDABLE HOUSING FUND AIMED TO ACCELERATE THE START-UP AND PRESERVATION OF HOMES. LAUNCH INITIATIVE IS A STRATEGIC PARTNERSHIP WHICH ENHANCES HOUSING TRUST'S LENDING CAPACITY AND PROVIDES HOUSING TRUST AND GOOGLE OPPORTUNITIES TO INVEST IN A BROADER RANGE OF AFFORDABLE HOUSING PROJECTS. HOUSING TRUST'S RESPONSIBILITIES INCLUDE SOURCING, UNDERWRITING, CLOSING AND SERVICING LOANS, TAKING AT LEAST A 10% PARTICIPATION IN THE LOANS AND PROVIDING MANAGEMENT SERVICES FOR THE FUND INCLUDING ACCOUNTING. AS THE SERVICER, AT JUNE 30, 2023, HOUSING TRUST HOLDS $5,034,083 BELONGING TO GOOGLE WHICH IS INCLUDED AS RESTRICTED CASH AND CASH EQUIVALENTS, AND THE ASSOCIATED LIABILITY AS FUNDS HELD FOR OTHERS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. PART X, LINE 2: HOUSING TRUST BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. HOUSING TRUST'S FEDERAL AND STATE INFORMATION RETURNS FOR THE YEARS 2019 THROUGH 2022 ARE SUBJECT TO EXAMINATION BY REGULATORY AGENCIES, GENERALLY FOR THREE AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF PROVISION FOR LOAN LOSS 1,890,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF FUNDRAISING EXPENSE 33,477. RECLASS OF PROVISION FOR LOAN LOSS -1,890,500. INVESTOR BRIEFING 162800 162800 4034 17858 2500 9085 162800 162800 4034 17858 2500 9085 33477 -33477 1 FAMILY SUPPORTIVE HOUSING 692 N KING RD SAN JOSE CA 95133 770106237 501(C)(3) 9091 0 PARTIAL LOAN FORGIVEN SVHOME 350 W JULIAN STREET BUILDING 5 SAN JOSE CA 95110 814755729 501(C)(3) 55000 0 PROGRAM SUPPORT PATH 340 N MADISON AVE LOS ANGELES CA 90004 953950196 501(C)(3) 61400 0 PROGRAM SUPPORT 3 0 PART I, LINE 2: THE ORGANIZATION PUBLISHES INITIAL GRANT GUIDELINES AND ACCEPTS APPLICATIONS FROM QUALIFIED ORGANIZATIONS. THE PROGRAM COMMITTEE REVIEWS ALL GRANT APPLICANTS AND APPROVES THE AWARD OF ALL GRANTS. THE RECIPIENT ORGANIZATION MUST REPORT MONTHLY THE STATUS OF ALL GRANT FUNDS RECEIVED AND THE WAY IN WHICH THESE FUNDS HAVE BEEN DISBURSED IN ACCORDANCE WITH THE INITIAL PURPOSE. X X X X X 0 0 0 0 0 0 0 1 0 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 332489 0 75000 0 1300 0 15250 0 5031 0 429070 0 0 0 JULIE MAHOWALD CHIEF FINANCIAL OFFICER 258838 0 31130 0 0 0 13089 0 18757 0 321814 0 0 0 FATHIA MACAULEY CHIEF LENDING OFFICER 193245 0 4898 0 0 0 9796 0 15778 0 223717 0 0 0 PRATHIT THAKER CHIEF CREDIT OFFICER 176644 0 13498 0 0 0 4975 0 18309 0 213426 0 0 0 NAZMIN BISHOP CHIEF DEV. & COM. OFFICER 160015 0 4205 0 0 0 6151 0 26853 0 197224 0 0 0 BRENT MALLOY CONTROLLER 140538 0 4670 0 0 0 7205 0 23697 0 176110 0 0 0 GUADALUPE DE LOURDES MEDINA MENDEZ HUMAN RESOURCES DIRECTOR 150136 0 6297 0 0 0 7594 0 11049 0 175076 0 0 0 VIVIAN VO ACCOUNTING MANAGER 131169 0 5903 0 0 0 6807 0 20215 0 164094 0 0 0 STEPHANEY KIPPLE SENIOR LOAN OFFICER 126634 0 10671 0 0 0 6342 0 8411 0 152058 0 0 0 PART I, LINE 7 THE CEO RECEIVED A NON-FIXED DISCRETIONARY BONUS APPROVED BY THE BOARD OF DIRECTORS. EMPLOYEES RECEIVED NON-FIXED DISCRETIONARY BONUSES BASED ON ORGANIZATIONAL AND INDIVIDUAL PERFORMANCE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. THE ENTIRE BOARD RECEIVES A COPY OF THE FORM 990 PRIOR TO FILING IN SUFFICIENT TIME TO POSE ANY QUESTIONS OR GIVE COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER MUST COMPLETE AND SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. NEW BOARD MEMBERS OR THOSE BEING CONSIDERED ARE EVALUATED TO SEE IF THERE EXIST ANY CONFLICT OF INTEREST. THE CHIEF EXECUTIVE OFFICER OR OTHER OFFICER OR PERSON WITH SUBSTANTIAL INFLUENCE OVER HOUSING TRUST SHALL DISCLOSE TO THE BOARD ALL MATERIAL FACTS REGARDING HIS OR HER AFFILIATION WITH ANY PERSON WITH WHOM HOUSING TRUST IS CONSIDERING ENTERING A TRANSACTION. IF THE BOARD IS EVALUATING A BUSINESS DEALING WITH AN ENTITY THAT A BOARD MEMBER HAS SOME INVOLVEMENT, THE BOARD MEMBER RECUSES THEMSELVES FROM ALL DISCUSSION AND FROM VOTING. IN ADDITION THE BOARD MEMBER ALSO EXCUSED THEMSELVES FROM THE MEETING TO ALLOW OTHER MEMBERS TO DISCUSS THE DEAL CANDIDLY. FORM 990, PART VI, SECTION B, LINE 15 THE PERSONNEL COMMITTEE RELIES UPON SALARY SURVEY DATA TO DETERMINE THE REASONABLENESS OF THE COMPENSATION OF CHIEF EXECUTIVE OFFICER. CHIEF EXECUTIVE USES COMPARABILITY DATA TO DETERMINE COMPENSATION OF THE CHIEF FINANCIAL OFFICER AND HEAD OF PARTNERSHIPS & STRATEGY, CHIEF LENDING OFFICER, CHIEF DEVELOPMENT & COMMUNICATIONS OFFICER, AND CHIEF CREDIT OFFICER. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE AT THE ORGANIZATION OFFICES WHICH ARE AVAILABLE FOR INSPECTION MONDAY TO FRIDAY (EXCEPT HOLIDAYS), 9AM TO 5PM. POST AUDITED FINANCIALS ON WEBSITE. FORM 990, PART XI, LINE 9: CREDIT FROM LOAN LOSSES 1,890,500. LTOA LLC 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 460669111 AFFORDABLE HOUSING CA 0 0 HOUSING TRUST SILICON VALLEY