2020-05-01T07:25:29-05:00 2019-06-30 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2018-07-01 770545135 HOUSING TRUST SILICON VALLEY HOUS 4087033837 75 E SANTA CLARA STREET NO 1350 SAN JOSE CA 95113 KEVIN ZWICK CHIEF EXECUTIVE OFFICER 4087033837 2020-04-24 1 YONG ZHANG CPA P01249785 7033366400 96.241.128.75 2020-04-24 09:40:31 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5BB3B986E96693C9FA12ABDB8E5DE88F5CFF60A5 2018 2020-11-06 18:47:13Z KEVIN ZWICK 75 E SANTA CLARA STREET NO 1350 SAN JOSE CA 95113 113165687 0 X WWW.HOUSINGTRUSTSV.ORG X 2000 CA HOUSING TRUST IS LEADING THE EFFORT TO CREATE A STRONG AFFORDABLE HOUSING MARKET IN THE GREATER BAY AREA, INCLUDING MAKING MORE LOANS THAN ANY OTHER NONPROFIT HOUSING LENDER IN THE REGION. FROM THE HOMELESS TO RENTERS TO FIRST-TIME HOMEBUYERS, WE ASSIST A WIDE RANGE OF RESIDENTS WITH PROGRAMS ACROSS THE ENTIRE SPECTRUM OF HOUSING ISSUES. OUR FINANCIAL EXPERTISE AND EXTENSIVE PRIVATE AND PUBLIC SECTOR PARTNERSHIPS ENSURE WE MAKE THE MOST OUT OF EVERY DOLLAR SO LOCAL RESIDENTS CAN SECURE STABLE AND AFFORDABLE HOUSING THAT WORKS FOR THEM AND THEIR FAMILIES. TO DATE, HOUSING TRUST HAS INVESTED $257 MILLION AND OUR BORROWERS HAVE LEVERAGED HOUSING TRUST'S INVESTMENT OF $3.8 BILLION TO CREATE 19,066 AFFORDABLE HOUSING OPPORTUNITIES. 17 17 23 17 0 0 9488914 8548310 3345366 5318992 444600 1067743 -20992 -22643 13257888 14912402 800023 724417 0 0 2248736 2682802 0 0 349081 1477703 3490700 4526462 6897919 8731426 8014483 120047627 166578851 53081155 91517996 66966472 75060855 X THE MISSION OF HOUSING TRUST SILICON VALLEY IS TO MAKE BAY AREA A MORE AFFORDABLE PLACE TO LIVE. WE MAKE LOANS AND GRANTS TO INCREASE THE SUPPLY OF AFFORDABLE HOUSING, ASSIST FIRST-TIME HOMEBUYERS, PREVENT HOMELESSNESS AND STABILIZE NEIGHBORHOODS. 0 0 1994098 54546 1620503 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 136 AFFORDABLE HOUSING PROJECTS, TOTALING OVER $202 MILLION IN FUNDING AND RESULTING IN 9,758 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, SAN BENITO, SAN FRANCISCO, SAN JOAQUIN, SAN MATEO, SANTA CLARA, SANTA CRUZ, SOLANO AND SONOMA COUNTIES. MULTI-FAMILY LENDING VOLUME HAS GROWN SIGNIFICANTLY OVER THE PAST SEVERAL YEARS AND FY19 WAS OUR BIGGEST LENDING YEAR TO DATE WITH $73.4 MILLION COMMITTED TO FINANCE 1,843 HOMES. 481207 295066 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 HOMEBUYER AND FINANCIAL LITERACY EDUCATION IN GROUP SETTINGS AS WELL AS 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 $125,000.WE HAVE MADE 2,535 DOWN PAYMENT ASSISTANCE LOANS TOTALING OVER $50 MILLION SINCE OUR FOUNDING. AS THE ADMINISTRATOR OF THE CITY OF SANTA CLARA'S BELOW MARKET PURCHASE PROGRAM, HOUSING TRUST MANAGES THE SALE OF THEIR INCLUSIONARY HOMES SOLD TO ELIGIBLE BUYERS AT A COST THAT IS DETERMINED NOT BY THE MARKET BUT RATHER BASED ON WHAT A LOW- OR MODERATE-INCOME HOUSEHOLD CAN AFFORD. IN FY19, HOUSING TRUST PROVIDED EDUCATION AND COUNSELING TO 2,733 HOPEFUL HOMEBUYERS, MADE EIGHT DOWN PAYMENT ASSISTANCE LOANS AND COMPLETED TWO BELOW MARKET PURCHASE PROGRAM HOME SALES. 764320 606496 32751 WE HELP NEIGHBORS EXPERIENCING HOMELESSNESS MOVE OFF THE STREETS AND INTO HOMES. THIS IS A VITAL PIECE OF OUR COMPREHENSIVE MISSION, HELPING OUR COMMUNITIES' LOWEST INCOME HOUSEHOLDS ACHIEVE STABILITY. HOUSING TRUST HAS GRANT PROGRAMS THAT STRENGTHEN AND EXPAND CAPACITY OF SOCIAL SAFETY NET PROVIDERS AND PROVIDE THE FINAL KEY TO INDIVIDUALS AND FAMILIES TO PREVENT OR EXIT HOMELESSNESS. OUR SAFETY NET PROGRAM GRANTS FUNDS TO COMMUNITY-BASED NONPROFIT ORGANIZATIONS FOR IMPROVEMENTS TO SHELTERS, TRANSITIONAL HOUSING FACILITIES AND OTHER SUPPORTING FACILITIES. HOUSING TRUST PARTNERS WITH SOCIAL SERVICE AGENCIES TO MAKE SECURITY AND UTILITY DEPOSITS ASSISTANCE TO HOUSEHOLDS EXPERIENCING OR AT RISK OF HOMELESSNESS, ALLOWING FAMILIES TO MOVE INTO PERMANENT HOUSING. SINCE 2000, HOUSING TRUST HAS ALSO HELPED 7,206 PEOPLE WITH OUR HOMELESSNESS ASSISTANCE GRANTS, TOTALING $5.1 MILLION. THESE PROGRAMS REACH THOSE AT THE VERY LOW END OF THE INCOME SPECTRUM, WITH OVER 80% OF FUNDS REACHING EXTREMELY LOW-INCOME HOUSEHOLDS (THOSE EARNING 30% OR LESS OF THE AREA MEDIAN INCOME). THE LACK OF AFFORDABLE HOUSING AND HIGH COST OF RENT CAN FORCE EVEN EMPLOYED INDIVIDUALS INTO HOMELESSNESS. OUR DEPOSIT ASSISTANCE CLIENTS ARE OFTEN EMPLOYED AS RETAIL CLERKS, RESTAURANT WORKERS, HOSPITAL STAFF AND MANY OTHER PROFESSIONS OUR COMMUNITIES DEPEND UPON. IN FY19, HOUSING TRUST HELPED 357 PEOPLE AVOID OR EXIT HOMELESSNESS, GRANTING $317,635. 2176657 63375 3370672 OTHER PROGRAM SERVICES 2176657 63375 3370672 5416282 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 69 0 1 23 1 0 0 0 0 0 0 0 0 X 17 17 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 4087033837 75 E SANTA CLARA STREET SUITE 1350 SAN JOSE CA 95113 GEORGE BROWN CHAIR 4.00 X X 0 0 0 MARY CHANDLER FIRST VICE-CHAIR 1.00 X X 0 0 0 CRAIG ROBINSON SECOND VICE-CHAIR 1.00 X X 0 0 0 ART FATUM TREASURER 1.00 X X 0 0 0 SHILOH BALLARD SECRETARY 1.00 X X 0 0 0 CANDICE GONZALEZ DIRECTOR 1.00 X 0 0 0 HILDA RAMIREZ DIRECTOR 1.00 X 0 0 0 LORENA MENDEZ-QUEZADA DIRECTOR 1.00 X 0 0 0 RACHEL COLTON DIRECTOR 1.00 X 0 0 0 JOE ANZALONE DIRECTOR 1.00 X 0 0 0 KATIA KAMANGAR DIRECTOR 1.00 X 0 0 0 THANG DO DIRECTOR 1.00 X 0 0 0 LISA GUTIERREZ DIRECTOR 1.00 X 0 0 0 SPARKY HARLAN DIRECTOR 1.00 X 0 0 0 NATHAN HO DIRECTOR 1.00 X 0 0 0 JIM MORGENSEN DIRECTOR 1.00 X 0 0 0 SHARON LEE DIRECTOR (AS OF 02/19) 1.00 X 0 0 0 KEVIN ZWICK CHIEF EXECUTIVE OFFICER 40.00 X 260082 0 37073 JULIE MAHOWALD CHIEF FINANCIAL OFFICER 40.00 X 177747 0 14376 JAMES MATHER CHIEF LENDING OFFICER (AS OF 05/19) 40.00 X 135136 0 46414 JULIE QUINN CHIEF DEVELOPMENT OFFICER 40.00 X 111918 0 8562 CRAIG MIZUSHIMA CHIEF COMPLIANCE & RISK OFFICER 40.00 X 103300 0 13265 788183 0 119690 5 0 1 0 0 331559 7494445 722306 8548310 INTEREST INCOME ON LOA 531390 3219826 3219826 PROGRAM SERVICE FEE 531390 2099166 2099166 5318992 968523 968523 98287513 98188293 99220 99220 99220 39842 331559 64992 -25150 -25150 OTHER INCOME 900009 2507 2507 2507 14912402 5318992 0 1045100 342806 342806 381611 381611 876345 453565 350804 71976 1321769 957103 238387 126279 63935 44515 13015 6405 257600 173689 67822 16089 163153 110095 36870 16188 37353 32339 5014 122179 122179 39571 39571 288546 169095 94820 24631 60940 16592 881 43467 20030 14720 3575 1735 274079 200714 48276 25089 45124 26448 16614 2062 16047 14174 1185 688 1043753 1043753 64751 47419 11405 5927 21874 750 21124 PROVISION FOR LOAN LOSS 1286000 1286000 OTHER OPERATING EXPENSE 103353 61194 33614 8545 DONATIONS & SPONSORSHIP 67100 39700 27400 6897919 5416282 1132556 349081 274 436 40146398 45576470 354561 606791 72669588 109696530 75880 102716 354515 163957 227425 190558 5175025 9067269 1398476 1338081 120047627 166578851 415957 1023608 3977332 1695150 44375476 75879087 4312390 12920151 53081155 91517996 X 29963305 34836229 37003167 40224626 66966472 75060855 120047627 166578851 8014483 79900 0 X 0 1 X 1 1 1 X 6697237 14398752 8137030 9488914 8548310 47270243 6697237 14398752 8137030 9488914 8548310 47270243 47270243 672135 862950 1230475 2573838 968523 6307921 42349 42349 53620513 5318992 0.88160 0.87840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 88000 88000 6809919 6897919 494896 123724 0 0 373291 317939 494896 1186126 1779189 163662 148000 88000 399662 93323 79485 123724 296532 444798 21791 21791 26998 5297 21701 274628 107461 167167 52889 51199 1690 190558 NON-RECOURSE BANK LOAN CAPITAL 12920151 12920151 X 14975716 79900 22985 102885 14872831 39571 39571 14912402 6881333 22985 22985 6858348 39571 39571 6897919 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 2015 THROUGH 2018 ARE SUBJECT TO EXAMINATION BY REGULATORY AGENCIES, GENERALLY FOR THREE AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY. 371401 331559 39842 4350 39842 0 20800 371401 331559 39842 4350 39842 20800 64992 -25150 1 GILROY COMPASSION CENTER 8425 MONTEREY ROAD SUITE 10 GILROY CA 95020 452189365 501(C)(3) 48260 SAFETY NET CAPITAL IMPROVEMENT GRANT HOPE'S CORNER INC 748 MERCY STREET MOUNTAIN VIEW CA 94041 473754161 501(C)(3) 240000 SAFETY NET CAPITAL IMPROVEMENT GRANT. FAMILY SUPPORTIVE HOUSING 692 N KING RD SAN JOSE CA 95133 770101637 501(C)(3) 54546 PARTIAL LOAN FORGIVEN 3 0 SECURITY DEPOSIT GRANT 239 318236 GUARDINO SCHOLARSHIP 4 12000 HOUSING AFFORDABILITY FUND 7 34875 ADU PLANNING GRANT 11 16500 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 KEVIN ZWICK CHIEF EXECUTIVE OFFICER 220082 0 40000 0 0 0 11545 0 25528 0 297155 0 0 0 JULIE MAHOWALD CHIEF FINANCIAL OFFICER 163218 0 14529 0 0 0 8225 0 6151 0 192123 0 0 0 JAMES MATHER CHIEF LENDING OFFICER (AS OF 05/19) 127556 0 7580 0 0 0 7209 0 39205 0 181550 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND APPROVES FOR FILING 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. EMPLOYEES MUST ALSO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. 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 CFO, CLO, CHIEF DEVELOPMENT OFFICER, AND CHIEF COMPLIANCE & RISK 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. LTOA LLC 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 460669111 AFFORDABLE HOUSING CA 0 0 HOUSING TRUST SILICON VALLEY