2020-05-14T21:16:13-05:00 2019-06-30 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2018-07-01 010716217 THE SAN FRANCISCO HOUSING ACCELERATOR FUND SANF 4156636938 25 TAYLOR STREET SAN FRANCISCO CA 94102 REBECCA FOSTER CEO 4156636938 2020-05-14 1 ELAINE CHANG P01404427 4153568000 50.206.2.174 2020-05-14 19:04:01 PD P 031F1A106EB9147436D3AD17C1B7499249C38308 97F666347C0DEDDF82FEDA318BD68E4B3DDB4161 2018 2020-11-19 02:30:22Z X REBECCA FOSTER 25 TAYLOR STREET SAN FRANCISCO CA 94102 25199683 0 X WWW.SFHAF.ORG X 2002 CA THE SAN FRANCISCO HOUSING ACCELERATOR FUND SUPPORTS AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT OF THE CITY AND COUNTY OF SAN FRANCISCO'S ECONOMICALLY DISADVANTAGED INDIVIDUALS AND COMMUNITIES, BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT REAL ESTATE ASSETS. 7 7 3 0 0 0 260000 16760979 372393 4671903 1280688 255528 79 187801 1913160 21876211 0 0 0 0 292706 451138 0 0 69782 1209538 3407504 1502244 3858642 410916 18017569 40245505 103426809 39418349 84767519 827156 18659290 X SFHAF'S MISSION IS TO INVEST IN THE PRESERVATION AND EXPANSION OF QUALITY AFFORDABLE HOUSING AND COMMUNITY FACILITIES. WE ACCELERATE THE PRODUCTION AND PRESERVATION OF AFFORDABLE HOUSING FOR SAN FRANCISCO'S ECONOMICALLY DISADVANTAGED HOUSEHOLDS, INDIVIDUALS, AND COMMUNITIES BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING REAL ESTATE ASSETS. WE BELIEVE THAT ACCESS TO QUALITY AFFORDABLE HOUSING FOR LOW- AND MODERATE-INCOME RESIDENTS IS CRUCIAL TO ACHIEVING POSITIVE SOCIAL AND ECONOMIC OUTCOMES FOR COMMUNITIES CITYWIDE, STABILIZING RESIDENTS AT RISK OF DISPLACEMENT, AND REVITALIZING UNDER-INVESTED NEIGHBORHOODS. 0 0 3563365 5115232 IN FY 2019 THE FUND CLOSED FIVE ADDITIONAL TRANSACTIONS WITH A TOTAL AMOUNT OF $61.6M, INCLUDING 3 BIG SITES LOANS, WHILE DIVERSIFYING ITS NETWORK OF BORROWERS. NEW LOANS WERE AS FOLLOWS:CCDC: 937 CLAY $11.6MMEDA: 4830 MISSION $13.4MTNDC: 270 TURK $24.9MCCDC: 1535 JACKSON $7.2MSFHDC: 520 SHRADER $4.4MDURING THE YEAR, SFHAF CONTINUED TO BUILD ITS PRESERVATION LENDING PORTFOLIO TO ACHIEVE GEOGRAPHIC SCALE ACROSS SAN FRANCISCO. SFHAF BEGAN CONVENING THE HOUSING PRESERVATION LAB (HPL), A GROUP OF NON-PROFIT DEVELOPERS AIMING TO IMPLEMENT SMALL SITES ANTI-DISPLACEMENT PRESERVATION THROUGHOUT THE CITY WHERE RESIDENTS FACED RISK OF DISPLACEMENT. DUE, IN PART, TO THE CAPACITY BUILDING AND SCALING EFFORTS WITHIN HPL, SFHAF WAS ABLE TO EXPAND THE GEOGRAPHIC FOOTPRINT OF ITS LENDING PORTFOLIO IN THE LAST YEAR. SFHAF HAS NOW FUNDED ANTI-DISPLACEMENT ACQUISITION PROJECTS IN CHINATOWN, THE TENDERLOIN, THE MISSION, AND HAIGHT-ASHBURY.ALSO DURING THE YEAR, SFHAF, THROUGH ITS HOMES FOR THE HOMELESS SUBSIDIARY, PURCHASED A PARKING LOT TO DEVELOP 146 NEW UNITS OF PERMANENT SUPPORTIVE HOUSING TO SERVE INDIVIDUALS EXPERIENCING CHRONIC HOMELESSNESS. DURING FY 2019, THE TEAM SELECTED A DEVELOPER, COMPLETED BUILDING DESIGNS, RECEIVED ENTITLEMENT APPROVALS FOR THE PROJECT, AND RECEIVED A LETTER OF SOFT COMMITMENT FROM THE CITY OF SAN FRANCISCO FOR A FUTURE RENTAL CONTRACT. 3563365 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 18 0 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 CA X GWEN CRANE MARCUM LLP 3019796069 1445 RESEARCH BOULEVARD SUITE 300 ROCKVILLE MD 20850 RICHARD GROSS BOARD PRESIDENT 1.25 X 0 0 0 PABLO BRAVO BOARD TREASURER 1.25 X 0 0 0 LYDIA TAN SECRETARY OF THE BOARD 1.25 X 0 0 0 TYLER VAN GUNDY DIRECTOR 1.25 X 0 0 0 MEG SPRIGGS DIRECTOR 1.25 X 0 0 0 ADHI NAGRAJ DIRECTOR 1.25 X 0 0 0 BRIGITT JANDREAU DIRECTOR 1.25 X 0 0 0 REBECCA FOSTER EXECUTIVE DIRECTOR 40.00 X 206711 0 6000 ABIGAIL MURRAY LOAN AND PORTFOLIO OFFICER 40.00 X 114378 0 2264 JEN HAMILTON CFO 20.00 X 0 0 0 321089 0 8264 2 0 1 0 FORSYTH STREET ADVISORS 588 BROADWAY SUITE 1208 NEW YORK CITY NY 10012 FINANCIAL ADVISORY 194985 GOLDFARB & LIPMAN 1300 CLAY STREET 11TH FLR OAKLAND CA 94612 LEGAL 182764 2 16760979 16760979 INTEREST ON LOANS 900099 3861796 3861796 ORIGINATION FEE 900099 810107 810107 4671903 234635 234635 187801 0 187801 187801 187801 3344365 3323472 20893 20893 20893 21876211 5115232 0 0 X 308301 228545 46447 33309 93929 73128 10535 10266 16247 12185 2302 1760 32661 24496 4627 3538 210595 73339 136931 325 468333 443620 14004 10709 2217 275 1942 25197 18807 3621 2769 7609 5707 1078 824 2644668 2644668 27525 22047 3104 2374 GENERAL OPERATING EXPEN 21360 16823 2571 1966 3858642 3563365 225495 69782 10132759 14057736 209165 75614 29849832 80874202 19693 34346 8273523 0 8273523 42994 -8938 0 0 111388 40245505 103426809 455412 125098 0 412552 23000000 59668000 15950000 24283333 12937 278536 39418349 84767519 X 827156 17089671 1569619 827156 18659290 40245505 103426809 X 18017569 76662 111940 -374037 X 0 1 X 1 0 X 550000 520000 260000 16760979 18090979 550000 520000 260000 16760979 18090979 0 0 0 18090979 550000 520000 260000 16760979 18090979 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8273523 8273523 8273523 INTEREST PAYABLE 278536 278536 X 21925643 76662 111940 188602 21737041 139170 139170 21876211 4093509 111940 122927 234867 3858642 0 3858642 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 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE 139,170. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE EXPENSE 122,567. ADJUSTMENT TO RECOGNIZE DEFERRED RENT 360. X X 0 0 0 0 0 0 0 0 0 REBECCA FOSTER EXECUTIVE DIRECTOR 167410 0 39241 0 60 0 0 0 6000 0 212711 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR 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 BYLAW. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION REVIEW WAS CONDUCTED FOR ED WITH AD HOC BOARD COMMITTEE LED BY BOARD CHAIR AND INCLUDED A ED PERFORMANCE REVIEW SURVEY, REVIEW OF COMPARISON REPORTS ON COMPENSATION FOR EDS/CEOS, AND ANALYSIS COMPENSATION IMPLICATIONS ON FY BUDGET. 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 FINANCIAL ADVISORY FEES: PROGRAM SERVICE EXPENSES 443,620. MANAGEMENT AND GENERAL EXPENSES 14,004. FUNDRAISING EXPENSES 10,709. TOTAL EXPENSES 468,333. FORM 990, PART XI, LINE 9: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE -139,170. LOAN LOSS RESERVE EXPENSE -122,567. ADJUSTMENT TO RECOGNIZE DEFERRED RENT -360. ADJUSTMENT TO DONATED LEGAL SERVICES -111,940. HOMES FOR THE HOMELESS FUND LLC 25 TAYLOR STREET SAN FRANCISCO CA 94102 371904352 INVESTMENT AND LENDING CA 16552011 7639243 THE SAN FRANCISCO HOUSING ACCELERATOR SAN FRANCISCO HOMES FOR THE HOMELESS NO 1 LLC 25 TAYLOR STREET SAN FRANCISCO CA 94102 824786396 INVESTMENT AND LENDING CA 187801 8913684 THE SAN FRANCISCO HOUSING ACCELERATOR