2024-05-14T20:38:14-05:00 2023-06-30 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2022-07-01 010716217 THE SAN FRANCISCO HOUSING ACCELERATOR FUND SANF 4156636938 564 MARKET ST SUITE 225 SAN FRANCISCO CA 94104 TAMAR DORFMAN CFO 4156636938 2024-05-14 1 TAMAR DORFMAN 999009999 0 ELAINE CHANG P01404427 4153568000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X TAMAR DORFMAN 564 MARKET ST SUITE 225 SAN FRANCISCO CA 94104 17160544 0 X WWW.SFHAF.ORG X 2002 CA THE SAN FRANCISCO HOUSING ACCELERATOR FUND SUPPORTS AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT, AND ECONOMIC DEVELOPMENT FOR CALIFORNIA'S ECONOMICALLY DISADVANTAGED INDIVIDUALS AND COMMUNITIES, BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT REAL ESTATE ASSETS. 11 11 10 0 0 0 18176870 6241086 5455074 8211355 70621 1893684 0 0 23702565 16346125 0 4000 0 0 1306568 1487525 0 0 246367 2557962 3371840 3864530 4863365 19838035 11482760 204353715 244673101 116649049 145229893 87704666 99443208 X THE CORPORATION'S SPECIFIC PURPOSE IS TO SUPPORT AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT FOR CALIFORNIA'S ECONOMICALLY DISADVANTAGED INDIVIDUALS AND COMMUNITIES, BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT REAL ESTATE ASSETS. 0 0 4025969 4000 10105039 WITHIN ITS PRESERVATION OF EXISTING PROPERTIES PROGRAM, THE FUND CONTINUED TO DEVELOP NEW RELATIONSHIPS AND SUPPORT EXISTING PARTNERSHIPS, AS WELL AS INTRODUCE NEW LENDING PRODUCTS TO ACQUIRE AND STABILIZE EXISTING BUILDINGS, THEREBY PRESERVING AFFORDABILITY LEVELS OR ADDING TO THE REGION'S STOCK OF PERMANENT SUPPORTIVE HOUSING. EFFORTS TO DATE HAVE SUPPORTED THE PRESERVATION OF SMALL SITES (LESS THAN 25 UNITS), BIG SITES (GREATER THAN 25 UNITS), SROS, HOTELS, TRANSITIONAL HOUSING FOR YOUTH EXITING THE FOSTER CARE SYSTEM, AND COOPERATED LIVING SPACES FOR INDIVIDUALS LIVING WITH CHRONIC MENTAL ILLNESSES AND/OR SUBSTANCE ABUSE DISORDERS. OVER THE COURSE OF THE FISCAL YEAR, THE FUND HELPED TO FUND THE ACQUISITION AND REHABILITATION OF 6 PROPERTIES, SUPPORTING THE PRESERVATION OF OVER 350 ADDITIONAL UNITS. WITHIN THE FUND'S NEW CONSTRUCTION PROGRAM, THE FUND CONTINUED TO PARTNER WITH NONPROFIT ORGANIZATIONS AND DEVELOPERS TO PROVIDE PREDEVELOPMENT, ACQUISITION, CONSTRUCTION, AND CONSTRUCTION-TO-PERMANENT LOANS FOR THE CONSTRUCTION OF NEW AFFORDABLE UNITS. PRODUCTION OF NEW AFFORDABLE HOUSING SERVES TO CATER TO COMMUNITY MEMBERS RANGING FROM LOW-TO-MIDDLE INCOME RESIDENTS WHO HAVE BEEN PRICED OUT OF MARKET RATE HOUSING TO PERSONS AT RISK OF HOMELESSNESS AND IN NEED OF PERMANENT SUPPORTIVE HOUSING. OVER THE COURSE OF THE FISCAL YEAR, THE FUND SUPPORTED THE DEVELOPMENT OF 4 NEW AFFORDABLE HOUSING PROPERTIES, RESULTING IN THE ADDITION OF OVER 300 NEW UNITS TO THE REGION'S AFFORDABLE HOUSING STOCK.IN ADDITION TO THE FUND'S ONGOING PROGRAMMATIC WORK IN SAN FRANCISCO (THE "CITY"), HAF HAS BEEN WORKING TO RAISE FLEXIBLE CAPITAL THAT WOULD ALLOW IT TO SUPPORT PROJECTS OUTSIDE OF THE CITY AND ACROSS THE GREATER BAY AREA, WHILE ALSO WORKING TO BUILD RELATIONSHIPS WITH OTHER PUBLIC SECTOR AGENCIES AND BORROWERS WITH MORE OF A REGIONAL PRESENCE. AFTER CAREFUL EVALUATION AND CONSIDERATION OF MULTIPLE OPPORTUNITIES OVER THE PAST FISCAL YEAR, HAF CELEBRATED THE CLOSING OF ITS FIRST REGIONAL LOANS IN MARIN AND SANTA CLARA COUNTIES, SUPPORTING THE PRESERVATION AND PRODUCTION OF NEARLY 200 UNITS OF AFFORDABLE HOUSING WITHIN THE GREATER BAY AREA. BY EXPANDING OUR SOLUTIONS TO SUPPORT PROJECTS ACROSS THE NINE COUNTIES, HAF HAS EXPANDED ITS REACH TO SERVING HOUSEHOLDS AND BORROWERS THAT ARE AT-RISK OUTSIDE OF THE CITY. 4025969 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 22 0 10 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 CA X TAMAR DORFMAN CFO 5103900931 564 MARKET ST SUITE 225 SAN FRANCISCO CA 94104 ADHI NAGRAJ DIRECTOR 1.25 X 0 0 0 ANAGHA DANDEKAR CLIFFORD DIRECTOR 1.25 X 0 0 0 BRIGITT JANDREAU DIRECTOR 1.25 X 0 0 0 ERNEST BROWN DIRECTOR 1.25 X 0 0 0 LYDIA TAN BOARD SECRETARY 1.50 X 0 0 0 MEG SPRIGGS BOARD PRESIDENT 1.50 X 0 0 0 NINA HATVANY DIRECTOR 1.25 X 0 0 0 PABLO BRAVO DIRECTOR 1.25 X 0 0 0 RICH GROSS DIRECTOR 1.25 X 0 0 0 TYLER VAN GUNDY BOARD TREASURER 1.50 X 0 0 0 TANGERINE BRIGHAM DIRECTOR 1.25 X 0 0 0 KATHERINE AUGUST DEWILDE DIRECTOR 1.25 X 0 0 0 REBECCA FOSTER CEO 40.00 X 280137 0 2624 TAMAR DORFMAN CFO 40.00 X 237141 0 2624 KATE HARTLEY CHIEF LENDING & INVESTMENT 40.00 X 60799 0 2503 JAN LINDENTHAL-COX CHIEF INVESTMENT OFFICER 40.00 X 75583 0 113 653660 0 7864 2 0 1 0 FORSYTH STREET ADVISORS LLC 588 BROADWAY SUITE 1208 NEW YORK NY 10012 FINANCIAL ADVISORY 236250 1 6241086 6241086 PROJECT LOAN INTEREST EARNINGS 900099 7065210 7065210 ORIGINATION FEE INCOME 900099 900359 900359 CONTRACTS REVENUE 900099 186425 186425 OTHER REVENUE 900099 47102 47102 EXTENSION FEE INCOME 900099 8516 8516 3743 3743 8211355 1921908 1921908 786195 814419 -28224 -28224 -28224 16346125 10105039 0 0 X 4000 4000 778040 519853 139078 119109 597795 429715 99733 68347 25107 17884 4711 2512 86583 60286 14941 11356 198577 5591 192986 8499 8499 591238 516903 73467 868 17275 1567 444 15264 113322 77059 21806 14457 51191 34810 9850 6531 2312174 2312174 5433 5433 28833 19606 5549 3678 GENERAL OPERATING SUPPL 31802 20313 7678 3811 WORKERS COMP INSURANCE 13496 6208 6854 434 4863365 4025969 591029 246367 74780974 92475609 3795320 421114 117273672 143007718 44462 88833 8273523 8273523 8273523 13583 8150 172181 398154 204353715 244673101 168432 147479 30000 30000 59249000 61659000 57015000 83165000 186617 228414 116649049 145229893 X 83458427 99001646 4246239 441562 87704666 99443208 204353715 244673101 X 11482760 -11627 114925 152484 X 0 1 X 1 0 X 16760979 44304309 4129830 18176870 6241086 89613074 5248497 4873340 5525695 10105039 25752571 16760979 49552806 9003170 23702565 16346125 115365645 0 0 0 115365645 16760979 49552806 9003170 23702565 16346125 115365645 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8273523 8273523 8273523 INTEREST PAYABLE 173186 OPERATING LEASE LIABILITY 55228 228414 X 16881583 -11627 114925 103298 16778285 8499 -440659 -432160 16346125 5143041 114925 173250 288175 4854866 8499 8499 4863365 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 -440,659. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE EXPENSE 173,250. X X 0 0 0 0 0 0 0 0 0 REBECCA FOSTER CEO 220137 0 60000 0 0 0 2500 0 124 0 282761 0 0 0 TAMAR DORFMAN CFO 199141 0 38000 0 0 0 2500 0 124 0 239765 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER 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 BYLAWS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW WAS CONDUCTED FOR CEO WITH AD HOC BOARD COMMITTEE LED BY BOARD CHAIR AND INCLUDED A CEO PERFORMANCE REVIEW SURVEY, REVIEW OF COMPARISON REPORTS ON COMPENSATION FOR CEOS, AND ANALYSIS COMPENSATION IMPLICATIONS ON FY BUDGET. COMPENSATION FOR THE CFO IS SET BY THE CEO AFTER A REVIEW OF COMPENSATION DATA FOR THE SAME POSITION IN SIMILAR ORGANIZATIONS, COMPILED FROM NONPROFIT SURVEYS AND 990 DATA. THE CFO COMPENSATION IS APPROVED BY THE BOARD. 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 CONSULTING FEES: PROGRAM SERVICE EXPENSES 516,903. MANAGEMENT AND GENERAL EXPENSES 73,467. FUNDRAISING EXPENSES 868. TOTAL EXPENSES 591,238. FORM 990, PART XI, LINE 9: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE 440,659. ADJUSTMENT TO DONATED LEGAL SERVICES -114,925. LOAN LOSS RESERVE EXPENSE -173,250. HOMES FOR THE HOMELESS FUND LLC 564 MARKET ST SUITE 225 SAN FRANCISCO CA 94104 371904352 INVESTMENT AND LENDING CA 673206 21091417 THE SAN FRANCISCO HOUSING ACCELERATOR SAN FRANCISCO HOMES FOR THE HOMELESS NO 1 LLC 564 MARKET ST SUITE 225 SAN FRANCISCO CA 94104 824786396 INVESTMENT AND LENDING CA 0 8318836 THE SAN FRANCISCO HOUSING ACCELERATOR