irs program accomplishments · form 990 part iii · fy2021
what they reported doing
Program narrative the organization filed with the IRS. Ordered by program spending.
- #1 primary $9.80MCONSTRUCTION MANAGEMENT, DEVELOPMENT AND OTHER EXPERTISE ENCOURAGING REHABILITATION AND OPERATION OF HOUSING FOR LOW-INCOME HOUSEHOLDS.
- #2 $9.09MTHE CORPORATION SERVES AS A LIMITED PARTNER IN 15 LIMITED PARTNERSHIPS WHICH PROVIDE LOW-INCOME HOUSING THROUGHOUT THE BAY AREA. THE CORPORATION ALSO SERVES AS THE SOLE OWNER OF 36 LIMITED LIABLITY COMPANIES, THE MANAGING MEMBER OF THREE LIMITED LIABILITY COMPANIES, AND THE MAJORITY OWNER OF FOUR CORPORATIONS WHICH SERVE AS THE GENERAL PARTNER IN LIMITED PARTNERSHIPS WHICH PROVIDE LOW-INCOME HOUSING THROUGHOUT THE BAY AREA. LASTLY, THE CORPORATION SERVES AS THE SOLE OWNER OF TWO LIMITED LIABILITY COMPANIES WHICH LEASE COMMERCIAL PROPERTY THROUGHOUT THE BAY AREA.
named programs · 2 · from sources
what they call their work
Property Management
Property management services ensuring long-term care and quality of life for residents in affordable housing communities
Real Estate Development
Award-winning real estate development department with 50+ years of experience creating affordable housing projects ranging from traditional to complex
activities · 2
what they do
direct service · 2
- Develops and constructs affordable housing communities Acquisition and Rehabilitation of Affordable HousingPlans, constructs, and completes affordable housing developments such as Distel Circle in Los Altos and Pimentel Place and Mission Paradise in Hayward, providing housing for individuals and families in California and Hawai'i.
- Fundraising to support affordable housing programs Acquisition and Rehabilitation of Affordable HousingRaises funds through initiatives such as the annual "Bold Solutions" event in Los Angeles to support affordable housing programs for individuals and families in California and Hawai'i.
strategies · 2
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.
- Affordable housing as community foundation affordable-housing-as-cornerstone unique to this orgInvests in quality affordable rental housing as a foundational element to build sustainable, healthy, and livable communities, recognizing it as central to expanding opportunity and community well-being.
- End-to-end affordable housing development and management affordable_housing_development_and_management unique to this orgLeverages decades of real estate expertise to develop, manage, and maintain affordable housing across diverse and complex project types, ensuring long-term viability and resident quality of life.
financials · form 990 · fy2021
the money
revenue
Total revenue$53.75M
Contributions & grants$19.71M37%
Program service revenue$32.47M60%
Investment income$1.50M3%
Other revenue$65K
expenses
Total expenses$38.70M
Program expenses89%
Admin / overhead10%
Fundraising0%
Salaries & benefits$23.45M
Grants paid out$791K
Largest expense lineCompensation
balance sheet
Total assets$269.35M
Cash$7.06M
Investments$145.65M
Liabilities$57.60M
Net assets$211.75M
Liquid reserves47.3 mo
3 years on record · 2019–2021 · YoY revenue +39.6%
leadership · form 990 part vii · fy2021
who runs it
paid leadership · 9
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| LAURA HALL | President & CEO | 40 | $503K |
| WELTON JORDAN | CREDO | 40 | $363K |
| CATHY MACY | CFO | 40 | $346K |
| KAREN BELANGER | SR VP - H.R. | 40 | $294K |
| ROBERT SCHRAEGER | SR VP - R.E. MGMT | 40 | $284K |
| LESLIE DABI | VP-IT OPERATIONS | 40 | $238K |
| BRENDON BERGEN | VP-ASSET MGMT | 40 | $237K |
| JOSH ROMOFF | DIR-REAL EST MGMT | 40 | $234K |
| MARY MURTAGH | EXECUTIVE CHAIR | 40 | $231K |
board members · 8
- BARNEY DEASY — Director
- JOSEPH F WALSH — Director
- JUDY BINSACCA — FORMR DIR/CHAIR
- LINN WARREN — CHAIRPERSON
- LUCIEN WONG — Director
- PATRICK CASHMAN — Director
- PAUL S FOSTER — VC/SEC/TREAS
- ROBERT M BROWN — Director
relationships · 5
who they work with
- FSY Architects Partner — Sponsor of the 2026 Bold Solutions fundraising event at the Neighborhood Builder level.
- HKIT Architects Partner — Sponsor of the 2026 Bold Solutions fundraising event at the Neighborhood Builder level.
- Hayward Partner — Developed and opened Pimentel Place and Mission Paradise affordable housing communities in partnership with the city.
- Los Altos Partner — Collaborating on the development of the Distel Circle affordable housing project.
- Nibbi Brothers General Contractors Partner — Sponsor of the 2026 Bold Solutions fundraising event at the Bridge Benefactor level.