2022-05-10T16:47:24-07:00 2021-06-30 454555509 Badawi and Associates 2855 Telegraph Ave Ste 312 Berkeley CA 94705 990 2020-07-01 721589835 Housing Endowment and Regional Trust of San Mateo County HOUS 6502045640 2905 S El Camino Real San Mateo CA 94403 ARMANDO SANCHEZ Executive Director 2022-05-10 true ARMANDO SANCHEZ 999009999 Ahmed Badawi P01676731 5107688244 0 AAL1 IAL1 FAL1 2020 2022-09-23 18:48:47Z ARMANDO SANCHEZ 2905 S El Camino Real San Mateo CA 94403 848300 false X www.heartofsmc.org X 2005 CA HEART meets critical housing needs in San Mateo County by raising both public and private funds. HEART invests the funds it raises in affordable housing developments for low and moderate income people and in loans to first time homebuyers 21 21 0 0 570071 539276 55700 5300 368677 262058 41666 994448 848300 0 0 315917 464067 0 7866 231978 167865 547895 631932 446553 216368 14849543 15081965 3587571 3603625 11261972 11478340 X HEART meets critical housing needs in San Mateo County by raising both public and private funds. HEART invests the funds it raises in affordable housing developments for low and moderate income people and in loans to first time homebuyers false false 317542 80000 3734 Direct Lending Program (Short-term): Includes all activities involved with marketing, underwriting, committing, closing, monitoring and servicing short-term loans to create or preserve affordable housing to nonprofit organizations. 1. Made one loan in the amount of $3,56,828. 2. Received repayment of a $356,828 loan. 3. Program service expenses for this activity was $317,542 125040 65779 OTHER PROGRAM SERVICES 30042 7000 5300 Direct Lending Program (Homebuyers): Includes all activities involved with marketing, committing, closing, monitoring and servicing down payment assistance loans to low- and moderate income home buyers. 1. THREE homebuyer assistance loans were generated during this fiscal year for a total of $1,323,990. Meriwest Credit Union purchased these loans for $1,323,990. 2. Loan origination fees generated $5,300 in revenue. 3. Program services expense to develop and manage the program were $30,042. 472624 true true false false false false false false false false false false true false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 0 0 false 0 false false false false false false false 0 false false false false false false false X 21 21 false false false false true true false true true false false true true true true false false true true false X X X Armando Sanchez 6502045640 2905 S El Camino Real San Mateo CA 94403 ARMANDO SANCHEZ Executive Dir. 40.00 0.00 X 194104 0 0 Dave Hopkins Director 1.00 0.00 X 0 0 0 Jack Matthews Director 1.00 0.00 X 0 0 0 James Ruigomez Director 1.00 0.00 X 0 0 0 Julie Baigent Director 1.00 0.00 X 0 0 0 Karyl Eldridge Director 1.00 0.00 X 0 0 0 Kitty Lopez Director 1.00 0.00 X 0 0 0 Larry Franzella Director 1.00 0.00 X 0 0 0 Nancy Magee Director 1.00 0.00 X 0 0 0 Pam Frisella Director 1.00 0.00 X 0 0 0 Robert Morehead Director 1.00 0.00 X 0 0 0 Anne Oliva Director 1.00 0.00 X 0 0 0 Deborah Penrose Director 1.00 0.00 X 0 0 0 Diane Howard Director 1.00 0.00 X 0 0 0 Don Horsley Director 1.00 0.00 X X 0 0 0 Sam Hindi Director 1.00 0.00 X 0 0 0 Glenn R Sylvester Director 1.00 0.00 X X 0 0 0 Mark Nagales Director 1.00 0.00 X 0 0 0 Micahel Brownrigg Director 1.00 0.00 X 0 0 0 Rick Bonilla Director 1.00 0.00 X X 0 0 0 Sara McDowell Director 1.00 0.00 X 0 0 0 Warren Slocum Director 1.00 0.00 X X 0 0 0 194104 1 false true false 0 236280 302996 539276 LOAN ORIGINATION FEE 900099 5300 5300 5300 262058 262058 0 0 0 0 0 0 0 PPP LOAN FORGIVENESS 900099 41666 41666 41666 848300 309024 X 0 0 0 0 194104 123633 69975 496 0 234760 182070 46996 5694 0 35203 25820 8820 563 0 0 13455 9825 3630 13499 8242 5080 177 0 0 0 74451 65626 8613 212 0 11605 7060 3970 575 303 185 114 4 0 4967 3033 1869 65 0 0 1570 959 591 20 43411 43411 0 0 2016 1292 696 28 Printing and Publications 2405 1468 905 32 Postage and Shipping 183 183 0 631932 472624 151442 7866 4254787 4342598 0 0 24711 49407 0 0 0 0 0 0 0 0 10570045 10689959 0 1 14849543 15081965 45905 41125 3500000 3500000 41666 62500 3587571 3603625 X 10850529 11066614 411443 411726 11261972 11478340 14849543 15081965 216368 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10689959 PAYCHECK PROTETION PROGRAM LOAN 62500 62500 X X X false false false false false false false false false ARMANDO SANCHEZ Executive Dir. 194104 194104 Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: OTHER PROGRAM SERVICES Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder The members of the joint powers authority known as HEART are the 20 cities in San Mateo County along with the County itself. Form 990, Part VI, Line 11b: Form 990 Review Process The Finance Committee reviews the form 990 and then forward it to the Board for review Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts HEARTs attorney reviews the conflict of interest polciy with the board members on an annual basis. Because HEART is a public agency, its board members must also file a State of California Form 700 Conflict of Interest Disclosure annually. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Board of Directors set the directors salary based on market comparison and experience using tolls such as the Northern California nonprofit Salary Survey as a benchmark tools. The HEART board approves an annual administrative budget, including the directors salary. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available As a public agency, HEART makes all of its governing documents available upon request. Its joint powers agreement, bylaws, and minutes are in the public record. The annual audited financial statements are published on HEARTs website. A summary financial report is included in HEARTs annual report, which is mailed to donors and city council members and published on HEARTs website