2022-04-29T15:37:16-05:00 2021-06-30 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2020-07-01 010716217 THE SAN FRANCISCO HOUSING ACCELERATOR FUND SANF 4156636938 2370 MARKET STREET BOX 442 NO 10 SAN FRANCISCO CA 94114 REBECCA FOSTER CEO 4156636938 2022-04-29 1 REBECCA FOSTER 999009999 ELAINE CHANG P01404427 4153568000 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z REBECCA FOSTER 2370 MARKET STREET BOX 442 NO 103 SAN FRANCISCO CA 94114 11892544 0 X WWW.SFHAF.ORG X 2002 CA THE SAN FRANCISCO HOUSING ACCELERATOR FUND SUPPORTS AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT, AND ECONOMIC DEVELOPMENT FOR CALIFORNIA'S ECONOMICALLY DISADVANTAGED INDIVIDUALS AND COMMUNITIES, BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT REAL ESTATE ASSETS. 10 10 8 0 0 0 44304309 4129830 4879650 4800197 368847 73143 0 0 49552806 9003170 0 119092 0 0 992071 1272403 0 0 217431 3306486 2141995 4298557 3533490 45254249 5469680 140706070 152166853 77402738 83576498 63303332 68590355 X THE CORPORATION'S SPECIFIC PURPOSE IS TO SUPPORT AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT FOR CALIFORNIA'S ECONOMICALLY DISADVANTAGED INDIVIDUALS AND COMMUNITIES, BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT REAL ESTATE ASSETS. 0 0 2782801 119092 4873340 IN FY 2021, SFHAF CONTINUED TO GROW ITS BRIDGE LENDING PROGRAM, CLOSING 4 ADDITIONAL TRANSACTIONS FOR A TOTAL AMOUNT OF $80M. THE FUND CELEBRATED THE CLOSING OF ITS TWO LARGEST LOANS TO DATE. LOANS TO EPISCOPAL COMMUNITY SERVICES FOR THE ACQUISITIONS OF HOTELS LOCATED AT 1000 SUTTER STREET AND 440 GEARY STREET WILL LEVERAGE FUNDING FROM THE CITY AND FROM THE STATE OF CALIFORNIA'S PROJECT HOMEKEY TO CREATE OVER 340 UNITS OF PERMANENT SUPPORTIVE HOUSING FOR INDIVIDUALS EXITING HOMELESSNESS. OTHER PROJECTS FINANCED INCLUDED 2 SMALL SITES PROGRAM (SSP) PROPERTIES, INCLUDING A LOAN TO BORROWER SAN FRANCISCO HOUSING DEVELOPMENT CORPORATION (SFHDC) FOR A 12-UNIT PROPERTY IN THE OCEANVIEW NEIGHBORHOOD, A NEIGHBORHOOD NOT PREVIOUSLY SERVED BY THE FUND. IN TOTAL, THESE PROJECTS CREATED OR PRESERVED 362 UNITS OF PERMANENTLY AFFORDABLE HOUSING. DURING THE YEAR, HAF CELEBRATED SEVERAL MAJOR MILESTONES RELATED TO ITS PROTOTYPE, 145-UNIT PERMANENT SUPPORTIVE HOUSING PROJECT AT 833 BRYANT STREET THE HHF DEVELOPMENT TEAM RECEIVED APPROVAL FROM THE CITY OF SAN FRANCISCO'S BOARD OF SUPERVISORS, COMMITTING THE CITY TO PROVIDING PERMANENT FINANCING FOR HHF'S PROTOTYPE PROJECT'S (LOCATED AT 833 BRYANT STREET) DEBT SERVICE AND OPERATING COSTS. CONSTRUCTION PROGRESSED SIGNIFICANTLY, INCLUDING THE PLACEMENT OF ALL MODULAR UNITS ON SITE AND PROGRESS TOWARDS FINALIZING THE INTERIOR AND EXTERIOR OF THE BUILDING TO MEET THE PROJECT GOAL OF COMPLETION IN THREE YEARS OR LESS. SFHAF ALSO CONTINUED ITS EFFORTS TO CAPACITY-BUILD AND IDENTIFY NEW FUNDING SOURCES TO ENHANCE HOUSING PRESERVATION ACTIVITIES IN SAN FRANCISCO, ESPECIALLY AFTER THE ONSET OF THE CORONAVIRUS PANDEMIC IN MARCH 2020. TOGETHER WITH THE COUNCIL OF COMMUNITY HOUSING ORGANIZATION (CCHO), THE FUND HAS CONTINUED TO CONVENE A MULTI-STAKEHOLDER FORUM, THE HOUSING PRESERVATION LAB ("HPL"), DESIGNED TO HELP ANTI-DISPLACEMENT PRESERVATION SCALE CITYWIDE. TO SUPPORT ITS DEVELOPMENT PARTNERS IN RESPONDING TO THE PANDEMIC, IN FY 2020 SFHAF RAISED FUNDS FOR A GRANT-MAKING PROGRAM, THE "OPERATING DEFICIT GRANT PROGRAM" TO PROVIDE RELIEF FOR PROJECT-LEVEL OPERATING DEFICITS ARISING FROM COVID-19 IMPACTS. THESE GRANT FUNDS WERE FULLY DISBURSED IN FY2021, HELPING TO STABILIZE 6 PROPERTIES, 8 SMALL BUSINESSES, AND AN ESTIMATED 245 RESIDENTS. 2782801 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 16 0 8 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 CA X AMY BROWN MARCUM LLP 2022274188 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 ADHI NAGRAJ DIRECTOR 1.25 X 0 0 0 ANAGHA DANDEKAR CLIFFORD DIRECTOR 1.25 X 0 0 0 BRIGITT JANDREAU DIRECTOR 1.25 X 0 0 0 ERNEST BROWN DIRECTOR 1.25 X 0 0 0 LYDIA TAN BOARD SECRETARY 1.50 X 0 0 0 MEG SPRIGGS BOARD PRESIDENT 1.50 X 0 0 0 NINA HATVANY DIRECTOR 1.25 X 0 0 0 PABLO BRAVO DIRECTOR 1.25 X 0 0 0 RICH GROSS DIRECTOR 1.25 X 0 0 0 TYLER VAN GUNDY BOARD TREASURER 1.50 X 0 0 0 REBECCA FOSTER CEO 40.00 X 234960 0 32 TAMAR DORFMAN CFO 40.00 X 74452 0 16 KATE HARTLEY CHIEF LENDING & INVESTMENT OFFICER 40.00 X 212993 0 32 522405 0 80 2 0 1 0 FORSYTH STREET ADVISORS LLC 588 BROADWAY SUITE 1208 NEW YORK NY 10012 FINANCIAL ADVISORY 421249 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 ACCOUNTING SERVICES 186714 2 4129830 4129830 PROJECT LOAN INTEREST EARNINGS 900099 3490600 3490600 ORIGINATION FEE INCOME 900099 963683 963683 OTHER INCOME 900099 181250 181250 CONTRACTS REVENUE 900099 155124 155124 OTHER REVENUE 900099 9540 9540 4800197 58472 58472 2904045 2889374 14671 14671 14671 9003170 4873340 0 0 X 119092 119092 673471 459794 133784 79893 472651 330308 71445 70898 50096 34663 8815 6618 76185 50981 15186 10018 253674 32314 221360 5495 5495 567889 517709 40180 10000 22769 22769 45122 30296 8702 6124 26230 17612 5058 3560 1152744 1152744 2878 2878 32364 21730 6242 4392 GENERAL OPERATING SUPPL 21492 9028 10640 1824 WORKERS COMP INSURANCE 11338 6530 3473 1335 3533490 2782801 533258 217431 37531174 57566740 990809 1391623 93688544 84669005 21749 33137 8273523 8273523 8273523 5755 2877 194516 229948 140706070 152166853 173499 162536 120000 0 33618500 34342000 43421099 48962000 69640 109962 77402738 83576498 X 55884404 65641046 7418928 2949309 63303332 68590355 140706070 152166853 X 5469680 -26233 243780 -400204 X 0 1 X 1 0 X 520000 260000 16760979 44304309 4129830 65975118 5248497 4873340 10121837 520000 260000 16760979 49552806 9003170 76096955 0 0 0 76096955 520000 260000 16760979 49552806 9003170 76096955 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8273523 8273523 8273523 INTEREST PAYABLE 109962 109962 X 9122217 -26233 243780 120000 337547 8784670 5495 213005 218500 9003170 3835194 243780 63419 307199 3527995 5495 5495 3533490 PART X, LINE 2: THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. MANAGEMENT HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. CALIFORNIA TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS FOUR YEARS OF TAX RETURNS FILED. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ADJUSTMENT TO RECOGNIZE CONTRACT REVENUE 120,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE 213,005. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE EXPENSE 63,419. 1 MEDA HAF SMALL PROPERTIES LLC 2301 MISSION STREET SUITE 301 SAN FRANCISCO CA 94110 474936068 108592 OPERATING DEFICIT GRANT 270 TURK GP LLC 201 EDDY STREET SAN FRANCISCO CA 94102 943367164 10500 OPERATING DEFICIT GRANT 2 PART I, LINE 2: AT THE END OF THE GRANT PERIOD, GRANTEES SUBMIT A REVISED PRO FORMA REFLECTING THE GRANT AS AN ADDITIONAL FUNDING SOURCE AND SHOWING THE USES OF THE GRANT PROCEEDS OVER THE THREE-MONTH TERM. ADDITIONALLY, GRANTEES PROVIDE INFORMATION REGARDING THE IMPACT OF THE FUNDS AT EACH PROPERTY TO BETTER DISCERN THE EFFECTS ON DIRECT TENANT OUTCOMES. X X 0 0 0 0 0 0 0 0 0 REBECCA FOSTER CEO 189960 0 45000 0 0 0 0 0 32 0 234992 0 0 0 KATE HARTLEY CHIEF LENDING & INVESTMENT OFFICER 184660 0 28333 0 0 0 0 0 32 0 213025 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND THE MEMBERS OF THE GOVERNING BOARD FOR ACCURACY AND COMPLETENESS. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD AND THE ORGANIZATION'S EMPLOYEES ARE REQUIRED TO RE-SIGN THE CONFLICT OF INTEREST DISCLOSURE STATEMENT ON AN ANNUAL BASIS. FURTHERMORE, THE CONFLICT OF INTEREST POLICY IS STATED IN THE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW WAS CONDUCTED FOR CEO WITH AD HOC BOARD COMMITTEE LED BY BOARD CHAIR AND INCLUDED A CEO PERFORMANCE REVIEW SURVEY, REVIEW OF COMPARISON REPORTS ON COMPENSATION FOR CEOS, AND ANALYSIS COMPENSATION IMPLICATIONS ON FY BUDGET. COMPENSATION FOR THE CFO IS SET BY THE CEO AFTER A REVIEW OF COMPENSATION DATA FOR THE SAME POSITION IN SIMILAR ORGANIZATIONS, COMPILED FROM NONPROFIT SURVEYS AND 990 DATA. THE CFO COMPENSATION IS APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 517,709. MANAGEMENT AND GENERAL EXPENSES 40,180. FUNDRAISING EXPENSES 10,000. TOTAL EXPENSES 567,889. FORM 990, PART XI, LINE 9: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE -213,005. LOAN LOSS RESERVE EXPENSE -63,419. ADJUSTMENT TO DONATED LEGAL SERVICES -243,780. ADJUSTMENT TO CONTRACTS REVENUE 120,000. HOMES FOR THE HOMELESS FUND LLC 2370 MARKET STREET BOX 442 NO 103 SAN FRANCISCO CA 94114 371904352 INVESTMENT AND LENDING CA 431775 40700073 THE SAN FRANCISCO HOUSING ACCELERATOR SAN FRANCISCO HOMES FOR THE HOMELESS NO 1 LLC 2370 MARKET STREET BOX 442 NO 103 SAN FRANCISCO CA 94114 824786396 INVESTMENT AND LENDING CA 2115 8584724 THE SAN FRANCISCO HOUSING ACCELERATOR