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CALHFA HOMEOWNER RELIEF CORPORATION

SACREMENTO, CA · EIN 871237752 · Form 990 · FY2021 · NTEE W20 · Public & Societal Benefit · Very Large (>$50M) · camortgagerelief.org
revenue
$243.3M
expenses
$243.3M
net assets
$1K
employees
0
program ratio
100%
filing since
2020
mission · from form 990

TO ADMINISTER THE CALIFORNIA MORTGAGE RELIEF PROGRAM WITH THE GOAL OF PROVIDING VARIOUS FORMS OF ASSISTANCE TO CERTAIN CALIFORNIA HOMEOWNERS AT RISK OF FORECLOSURE DUE TO ADVERSE CONDITIONS CREATED BY COVID-19 AFFECTING HOUSING AND THE ECONOMY.

profile · synthesized from sources

Nonprofit corporation administering the California Mortgage Relief Program, which distributed over $900 million in federal grants to more than 37,000 homeowners facing pandemic-related financial hardship. The program helped prevent foreclosures by covering delinquent mortgage payments, property taxes, and other housing-related debts across California. It prioritized socially disadvantaged and low-to-moderate income households.

named programs · 1 · from sources

what they call their work

California Mortgage Relief Program
Provided grants to eligible California homeowners to cover past-due mortgage payments, missed property taxes, partial claims/loan deferrals, reverse mortgages, and PACE loans resulting from pandemic-related financial hardship
activities · 2

what they do

direct service · 2
  • Administer housing stability grants for California homeowners Emergency Rental Assistance & Prevention
    Provided over $900 million in housing assistance through more than 37,000 grants to eligible California households facing financial hardship, primarily due to the pandemic, to prevent housing instability.
  • Cover eligible housing-related expenses for homeowners Emergency Rental Assistance & Prevention
    Provides grant funding to cover past-due mortgage payments, missed property taxes, loan deferrals, reverse mortgages, and PACE loans for qualifying homeowners experiencing financial hardship.
strategies · 4

how they think

Theories of action extracted from this org's own source material. Click any approach shared with other orgs to see the full field.

  • Equity-centered outreach to prioritize vulnerable populations equity-focused outreach unique to this org
    Leverages data-driven strategies and partnerships with community-based organizations to identify and engage high-risk and socially disadvantaged households, ensuring targeted and accessible outreach.
  • Equity-focused administration of relief funds equity-focused program administration unique to this org
    Designs and administers federal relief programs with an intentional focus on socially disadvantaged households to ensure equitable access and redress systemic barriers to assistance.
  • Preserve intergenerational wealth through foreclosure prevention wealth_preservation unique to this org
    Helps homeowners avoid foreclosure as a means to prevent the erosion of intergenerational wealth, particularly in communities historically excluded from equitable housing opportunities.
  • Promote housing stability to reduce displacement and homelessness housing_stability unique to this org
    Employs an innovative and empathetic approach to homeowner assistance that prioritizes keeping people in their homes, thereby reducing homelessness and the broader social harms associated with displacement.
financials · form 990 · fy2021

the money

revenue
Total revenue$243.26M
Contributions & grants$242.52M100%
Program service revenue$00%
Investment income$745K0%
Other revenue$0
expenses
Total expenses$243.28M
Program expenses100%
Admin / overhead0%
Fundraising0%
Salaries & benefits$0
Grants paid out$191.39M
Largest expense lineProfessional Fees
balance sheet
Total assets$814.98M
Cash$664.25M
Investments$0
Liabilities$814.98M
Net assets$1K
Liquid reserves32.8 mo
2 years on record · 2020–2021 · YoY revenue +4279.3%
leadership · form 990 part vii · fy2021

who runs it

paid leadership · 2
NameTitleHours/wkCompensation
ERWIN TAM CHIEF FINANCIAL OFFICER 5 $220K
REBECCA FRANKLIN BOARD CHAIR 5 $209K
board members · 6
  • CLAIRE TAURIANEN — BOARD MEMBER
  • DALILA SOTELO — BOARD MEMBER
  • FRANCESE MARTI — BOARD MEMBER
  • JEE LEE — BOARD MEMBER
  • MARY ANN SMITH — BOARD MEMBER
  • STEPHEN RUSSELL — BOARD MEMBER
relationships · 4

who they work with

  • California Housing Finance Agency Government — Partnered with CalHFA Homeowner Relief Corporation to administer the California Mortgage Relief Program.
  • Korean American Federation of Los Angeles Partner — Collaborated to provide language access for non-English speaking families in LA County
  • NeighborWorks Partner — Collaborated with the Sacramento branch of NeighborWorks on outreach and program announcements for mortgage relief.
  • The Ring of Democracy Partner — Supported homeowners through the mortgage relief application process