2019-05-14T21:31:42-05:00 2018-06-30 420714325 RSM US LLP 1 S Wacker Drive Ste 800 Chicago IL 60606 990 2017-07-01 770545135 Housing Trust Silicon Valley HOUS 4084363450 75 E Santa Clara Street No 1350 San Jose CA 95113 Kevin Zwick CEO 4084363450 2019-05-13 1 Zack Fortsch CPA P00052725 3126343400 66.98.98.9 2019-05-13 13:33:30 CD P 2A28FA2E2A09A40AF4F0A751499BE74D16D20E85 2A28FA2E2A09A40AF4F0A751499BE74D16D20E85 2017 2019-02-21 02:37:17Z Kevin Zwick 75 E Santa Clara Street No 1350 San Jose CA 95113 15867068 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 $183 million and our borrowers have leveraged Housing Trust's investment of $3.1 billion to create 16,977 affordable housing opportunities. 16 8 23 3 0 14324 8137030 9488914 1171193 1173189 1321038 2616777 238033 -20992 10867294 13257888 1423236 800023 0 0 2061192 2248736 0 0 274535 981390 1477703 4465818 4526462 6401476 8731426 100173849 120047627 41437914 53081155 58735935 66966472 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 1709135 240000 840969 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 125 affordable housing projects, totaling over $128.7 million in funding and resulting in 7,917 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 FY18 was our biggest lending year to date with $37.4 million committed to finance 1,348 homes. 350167 64526 134885 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 $85,000.We have made 2,497 down payment assistance loans totaling over $49.6 million since our founding. In addition, 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 FY18, Housing Trust provided education and counseling to 1,739 hopeful homebuyers, made two down payment assistance loans and completed seven below market purchase program home sales. 661685 495497 18537 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 6,849 people with our homelessness assistance grants, totaling $4.8 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 FY18, Housing Trust helped 570 people avoid or exit homelessness, granting over $530,000. 419949 178798 Asset Management 127412 0 ADU 90430 Policy and Education 637791 178798 3358778 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 122 0 1 23 1 1 1 0 0 0 0 1 1 0 0 0 0 X 16 8 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 4084363450 75 E Santa Clara Street Suite 1350 San Jose CA 95113 George Brown Chair 4.00 0.00 X X 0 0 0 Mary Chandler First Vice-Chair 1.00 0.00 X X 0 0 0 Craig Robinson Second Vice-Chair 1.00 0.00 X X 0 0 0 Art Fatum Treasurer 1.00 0.00 X X 0 0 0 Shiloh Ballard Secretary 1.00 0.00 X X 0 0 0 Kathleen King Secretary (Thru 2/8/18) 1.00 0.00 X X 0 0 0 Candice Gonzalez Director 1.00 0.00 X 0 0 0 Hilda Ramirez Director 1.00 0.00 X 0 0 0 Lorena Mendez-Quezada Director 1.00 0.00 X 0 0 0 Rachel Colton Director 1.00 0.00 X 0 0 0 Joe Anzalone Director 1.00 0.00 X 0 0 0 Katia Kamangar Director 1.00 0.00 X 0 0 0 Thang Do Director 1.00 0.00 X 0 0 0 Ash Kalra Director (Thru 5/1/18) 1.00 0.00 X 0 0 0 Steve Tate Director (Thru 2/8/18) 1.00 0.00 X 0 0 0 John Barton Director (Thru 5/1/18) 1.00 0.00 X 0 0 0 John Bruno Director (Thru 2/8/18) 1.00 0.00 X 0 0 0 Amanda Montez Director (Thru 2/8/18) 1.00 0.00 X 0 0 0 Lisa Gutierrez Director (As of 2/8/18) 1.00 0.00 X 0 0 0 Sparky Harlan Director (As of 2/8/18) 1.00 0.00 X 0 0 0 Nathan Ho Director (As of 2/8/18) 1.00 0.00 X 0 0 0 Jim Morgensen Director (As of 2/8/18) 1.00 0.00 X 0 0 0 Julie Mahowald CFO 40.00 0.00 X 157913 0 9454 James Mather CLO 40.00 0.00 X 125539 0 27560 Sandra Murillo COO (Thru 1/2018) 40.00 0.00 X 116732 0 8597 Kevin Zwick CEO 40.00 0.00 X 232407 0 24372 Julie Quinn Dir. of Resource Development 40.00 X 102908 0 6276 735499 0 76259 5 0 1 0 0 279033 7594488 1615393 38395 9488914 Program Service Fee 531390 1140164 1140164 33025 33025 1173189 2573838 2573838 2600000 2557061 42939 42939 42939 31127 279033 52119 -20992 -20992 13257888 1173189 0 2595785 470004 470004 330019 330019 1837607 1215879 461432 160296 81573 53974 20483 7116 194201 128496 48765 16940 135355 89560 33988 11807 57105 24193 31139 1773 34637 34637 151028 66819 79312 4897 49474 6358 1540 41576 35668 22002 10715 2951 24383 12298 10534 1551 153083 94429 45987 12667 30138 15200 13021 1917 17817 8985 7697 1135 638613 638613 32791 21562 8329 2900 12352 7619 3711 1022 Donations & Sponsorship 146500 105300 41200 Staff Development 32556 16420 14065 2071 Bad Debt 2000 1009 864 127 59558 30039 25730 3789 4526462 3358778 893149 274535 28738513 40146672 309557 354561 65692978 72669588 32801 75880 326630 99205 24678 227425 4315183 5175025 1060139 1398476 100173849 120047627 412021 415957 10372 0 9558376 3977332 22675000 44375476 8782145 4312390 41437914 53081155 X 27756271 29963305 30979664 37003167 58735935 66966472 100173849 120047627 X 8731426 199111 -700000 X X 0 1 X 1 1 1 X 4840985 6697237 14398752 8137030 9488914 43562918 4840985 6697237 14398752 8137030 9488914 43562918 43562918 688560 672135 862950 1230475 2573838 6027958 49590876 0.87840 0.91760 X 148000 148000 3210778 3358778 317939 79485 0 0 373291 317939 691230 1036845 163662 148000 311662 93323 79485 172808 259212 21791 21791 19211 600 18611 254530 50463 204067 52889 48142 4747 227425 Non-Recourse Bank Loan Capital 4312390 4312390 X 13429050 199111 6688 205799 13223251 34637 34637 13257888 5198513 6688 700000 706688 4491825 34637 34637 4526462 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 2014 through 2017 are subject to examination by regulatory agencies, generally for three and four years after they were filed for federal and state, respectively. Part XII, Line 2d - Other Adjustments: Adjustment to reserve for loan losses 700,000. Networking 310160 279033 31127 2950 30196 18973 310160 279033 31127 2950 30196 18973 52119 -20992 1 Bill Wilson Center 3490 The Alameda Santa Clara CA 95050 942221849 501(C)(3) 70357 Youth Shelter Grant Gilroy Compassion Center 8425 Monterey Road Suite 10 Gilroy CA 95020 452189365 501(C)(3) 141740 Safety Net Capital Improvement Grant Habitat for Humanity 2619 Broadway Oakland CA 94612 943053687 501(C)(3) 240000 Book Value Loan Forgiven Loan Forgiven SVHOME 350 W Julian Street Building 5 San Jose CA 95110 814755729 501(C)(3) 5000 General Donation 4 0 Security Deposit Grant 130 244493 Guardino Scholarship 14 21000 Housing Affordability Fund 14 64526 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 Julie Mahowald CFO 148019 0 9294 0 600 0 7501 0 1953 0 167367 0 0 0 James Mather CLO 118648 0 6891 0 0 0 6714 0 20846 0 153099 0 0 0 Kevin Zwick CEO 197407 0 35000 0 0 0 10661 0 13711 0 256779 0 0 0 Peacock Commons LLC Board member is CEO of organization serving as sole member 500000 Notes Receivable 0 Bill Wilson Center Board member is CEO of organization 35000 Notes Receivable 0 New Homestead Associates Board member is CFO of org. serving as gen. partner in limited partnership 500000 Notes Receivable 0 MP Milpitas Affordable Housing Board member is CFO of org. serving as gen. partner in limited partnership 500000 Notes Receivable 0 MP Central Park Associates Board member is CFO of org. serving as gen. partner in limited partnership 510000 Notes Receivable 0 MP Edwina Benner Associates Board member is CFO of org. serving as gen. partner in limited partnership 200000 Notes Receivable 0 MP Shorebreeze Associates Board member is CFO of org. serving as gen. partner in limited partnership 676165 Notes Receivable 0 Sunflower Hill Livermore LP Board member is CFO of org. serving as gen. partner in limited partnership 387603 Notes Receivable 0 Housing First LLC Board member is CFO of org. serving as gen. partner in limited partnership 610313 Notes Receivable 0 Chesnut Square Family Associates LP Board member is CFO of org. serving as gen. partner in limited partnership 1424938 Notes Receivable 0 Oak Court Apartments LP Board member is CEO of org. serving as gen. partner in limited partnership 298465 Notes Receivable 0 Tree House Apartments LP Board member is CEO of org. serving as gen. partner in limited partnership 350000 Notes Receivable 0 Terra Bella I LLC Board member is CEO of organization serving as member of LLC 7148417 Notes Receivable 0 950 ECR LLC Board member is CEO of organization serving as member of LLC 7885834 Notes Receivable 0 X Server Equipment 1 34115 Resale Value X Office Furniture 1 4280 Resale Value 0 0 0 0 Part I, Column (b): Is the number of contributions. 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, and CIO. 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: Adjustment to Reserve for Loan Losses -700,000. Form 990, Part XII, Line 2c: The committee's oversight process of the audit and the process for selection of an independent accountant have not changed. LTOA LLC 75 E Santa Clara Street 1350 San Jose CA 95113 460669111 Affordable Housing CA 0 0 Housing Trust Silicon Valley