2023-05-02T15:15:49-05:00 2022-06-30 420714325 RSM US LLP 1250 H STREET SUITE 700 WASHINGTON DC 20005 990 2021-07-01 770545135 HOUSING TRUST SILICON VALLEY HOUS 4087033837 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 JULIE MAHOWALD CFO 4087033837 2023-04-26 1 JULIE MAHOWALD 999009999 MEREDITH BELL P01696827 2022932200 2023-04-26 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ANTONIETA RAMOS 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 36271453 0 X WWW.HOUSINGTRUSTSV.ORG X 2000 CA THE MISSION OF HOUSING TRUST SILICON VALLEY IS TO MAKE BAY AREA A MORE AFFORDABLE PLACE TO LIVE. 15 15 37 17 0 0 11288041 16913530 9401047 8406033 757195 720804 2274 -28021 21448557 26012346 297071 65358 0 0 4176968 4588766 0 0 492377 2786693 15393735 7260732 20047859 14187825 5964487 250989111 240898899 146321222 131452341 104667889 109446558 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 1 15750024 9091 7785948 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 186 AFFORDABLE HOUSING PROJECTS, TOTALING OVER $450 MILLION IN FUNDING AND RESULTING IN 15,149 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, SACRAMENTO, SAN BENITO, SAN FRANCISCO, SAN JOAQUIN, SAN MATEO, SANTA CLARA, SANTA CRUZ, SOLANO AND SONOMA COUNTIES. 845335 603043 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 $187,000. WE HAVE MADE 2,584 DOWN PAYMENT ASSISTANCE LOANS TOTALING OVER $51 MILLION SINCE OUR FOUNDING. IN FY22, HOUSING TRUST PROVIDED EDUCATION AND COUNSELING TO 1,136 HOPEFUL HOMEBUYERS, MADE FOURTEEN DOWN PAYMENT ASSISTANCE LOANS. 56267 56267 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. HOUSING TRUST PARTNERS WITH SOCIAL SERVICE AGENCIES TO MAKE SECURITY DEPOSITS ASSISTANCE TO HOUSEHOLDS EXPERIENCING OR AT RISK OF HOMELESSNESS, ALLOWING FAMILIES TO MOVE INTO PERMANENT HOUSING. SINCE 2000, HOUSING TRUST HAS ALSO HELPED 7,572 PEOPLE WITH OUR HOMELESSNESS ASSISTANCE GRANTS, TOTALING $5.5 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 FY22, HOUSING TRUST HELPED 16 PEOPLE AVOID OR EXIT HOMELESSNESS, GRANTING $44,267. 719208 17042 OTHER PROGRAMS. 719208 17042 17370834 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 84 0 1 37 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 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 CFO 4087033837 75 E SANTA CLARA STREET SUITE 1350 SAN JOSE CA 95113 CRAIG ROBINSON CHAIR 4.00 X X 0 0 0 KATIA KAMANGAR FIRST VICE-CHAIR 1.00 X X 0 0 0 JOE ANZALONE SECOND VICE-CHAIR 1.00 X X 0 0 0 KEVIN DEEBLE TREASURER 1.00 X X 0 0 0 SHARON LEE SECRETARY 1.00 X X 0 0 0 MIKE BEASLEY DIRECTOR 1.00 X 0 0 0 MARY CHANDLER DIRECTOR 1.00 X 0 0 0 ART FATUM DIRECTOR 1.00 X 0 0 0 JONATHAN FEARN DIRECTOR 1.00 X 0 0 0 KATIE FERRICK DIRECTOR 1.00 X 0 0 0 PAPIA GAMBELIN DIRECTOR 1.00 X 0 0 0 LISA GUTIERREZ DIRECTOR 1.00 X 0 0 0 MEG MCGRAW-SCHERER DIRECTOR 1.00 X 0 0 0 HILDA RAMIREZ DIRECTOR 1.00 X 0 0 0 AHMAD THOMAS DIRECTOR 1.00 X 0 0 0 SHILLOH BALLARD ENDING 0222 SECRETARY 1.00 X X 0 0 0 JIM MORGENSEN ENDING 0222 TREASURER 1.00 X X 0 0 0 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 40.00 X X 344730 0 18882 JULIE MAHOWALD CHIEF FINANCIAL OFFICER 40.00 X X 298915 0 41171 CRAIG MIZUSHIMA ENDING 0921 CHIEF COMPLIANCE & RISK OFFICER 40.00 X X 130640 0 21522 FATHIA MACAULEY CHIEF LENDING OFFICER 40.00 X 193922 0 23531 NAZMIN BISHOP CHIEF DEV. & COM. OFFICER 40.00 X 8885 0 0 PRATHIT THAKER CHIEF CREDIT OFFICER 40.00 X 0 0 0 PAM BERKOWITZ VICE PRESIDENT OF MULTIFAMILY LENDING 40.00 X 153503 0 50901 STEVEN YANG DIRECTOR OF MULTIFAMILY LENDING AND DIVERSITY 40.00 X 144536 0 15571 VIVIAN VO ACCOUNTING MANAGER 40.00 X 134178 0 30854 DEBORAH HAO FINANCE DIRECTOR 40.00 X 130250 0 20462 STEPHANEY KIPPLE SENIOR LOAN OFFICER 40.00 X 121252 0 10678 1660811 0 233572 12 0 1 0 RSM US LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 AUDIT AND TAX SERVICES 154013 1 180000 4693702 12039828 16913530 INTEREST INCOME ON LOA 531390 6023797 6023797 PROGRAM SERVICE FEE 531390 2382236 2382236 8406033 445941 445941 10500528 10225665 274863 274863 274863 0 180000 33442 -33442 -33442 OTHER INCOME 900099 5421 5421 5421 26012346 8406033 0 692783 34091 34091 31267 31267 1100390 471969 540175 88246 2711280 1737866 760916 212498 166532 98871 55897 11764 342941 223197 95947 23797 267623 162781 81781 23061 61716 35288 26428 140291 140291 41253 41253 853552 637561 136423 79568 7431 2710 4721 64473 29442 29258 5773 277650 166588 81998 29064 6830 1984 4561 285 11036 4360 5951 725 1951024 1951024 70986 42592 20965 7429 66960 750 66210 PROVISION FOR LOAN LOSS 11655000 11655000 OTHER OPERATING EXPENSE 166583 65293 95844 5446 DONATIONS & SPONSORSHIP 18950 18200 750 20047859 17370834 2184648 492377 600 598 73473002 50420441 10363670 4125000 401079 512283 160058415 163715358 186613 295806 423732 333950 135230 89782 6370502 21739631 250989111 240898899 1025976 1697920 9883136 9611549 3452554 4838212 14892380 13364203 99488184 84632358 17578992 17308099 146321222 131452341 X 52385252 60768910 52282637 48677648 104667889 109446558 250989111 240898899 5964487 -1185818 0 X 0 1 X 1 1 1 X 9488914 8548310 15224448 11287252 16913530 61462454 9488914 8548310 15224448 11287252 16913530 61462454 28357868 33104586 2573838 968523 826677 166058 445941 4981037 42349 48415 2274 5421 98459 66541950 31463548 0.49750 0.59620 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2018 AMOUNT: $ 2,507. 2019 AMOUNT: $ 1,999. 2020 AMOUNT: $ 2,274. 2021 AMOUNT: $ 5,421. FUNDRAISING INCOME - 2018 AMOUNT: $ 39,842. 2019 AMOUNT: $ 46,416. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 48000 48000 19999859 20047859 1000000 250000 0 0 494896 630143 513037 1000000 2638076 3957114 88000 88000 48000 48000 272000 123724 157536 128259 250000 659519 989279 0 3452554 1385658 4838212 1 X 423732 333950 89782 89782 NON-RECOURSE PARTICIPANT LOAN CAPITAL 17308099 17308099 X 24811957 -1185818 26682 -1159136 25971093 41253 41253 26012346 20033288 26682 26682 20006606 41253 41253 20047859 PART IV, LINE 2B: IN MARCH 2020, HOUSING TRUST ENTERED INTO A SERVICES AGREEMENT WITH GOOGLE ENDEAVOR, LLC, A WHOLLY OWNED FUND OF GOOGLE LLC (GOOGLE). GOOGLE HAS COMMITTED $63 MILLION TO CREATE A SEPARATE LAUNCH INITIATIVE FUND, AN AFFORDABLE HOUSING FUND AIMED TO ACCELERATE THE START-UP AND PRESERVATION OF HOMES. LAUNCH INITIATIVE IS A STRATEGIC PARTNERSHIP WHICH ENHANCES HOUSING TRUST'S LENDING CAPACITY AND PROVIDES HOUSING TRUST AND GOOGLE OPPORTUNITIES TO INVEST IN A BROADER RANGE OF AFFORDABLE HOUSING PROJECTS. HOUSING TRUST'S RESPONSIBILITIES INCLUDE SOURCING, UNDERWRITING, CLOSING AND SERVICING LOANS, TAKING AT LEAST A 10% PARTICIPATION IN THE LOANS AND PROVIDING MANAGEMENT SERVICES FOR THE FUND INCLUDING ACCOUNTING. AS THE SERVICER, AT JUNE 30, 2022, HOUSING TRUST HOLDS $4,838,212 BELONGING TO GOOGLE WHICH IS INCLUDED AS RESTRICTED CASH AND CASH EQUIVALENTS, AND THE ASSOCIATED LIABILITY AS FUNDS HELD FOR OTHERS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. 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 2018 THROUGH 2021 ARE SUBJECT TO EXAMINATION BY REGULATORY AGENCIES, GENERALLY FOR THREE AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY. INVESTOR BRIEFING 180000 180000 6048 14154 2500 10740 180000 180000 6048 14154 2500 10740 33442 -33442 1 CITY OF SAN JOSE - HOUSING DEPARTMENT 200 EAST SANTA CLARA STREET 12TH FLOOR SAN JOSE CA 95113 GOV'T 25000 0 PROGRAM SUPPORT. FAMILY SUPPORTIVE HOUSING 692 N KING RD SAN JOSE CA 95133 770101637 501(C)(3) 9091 0 PARTIAL LOAN FORGIVEN 2 0 SECURITY DEPOSIT GRANT 14 19267 GUARDINO SCHOLARSHIP 8 12000 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 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 318530 0 25000 0 1200 0 14500 0 4382 0 363612 0 0 0 JULIE MAHOWALD CHIEF FINANCIAL OFFICER 237415 0 61500 0 0 0 12293 0 28878 0 340086 0 0 0 CRAIG MIZUSHIMA ENDING 0921 CHIEF COMPLIANCE & RISK OFFICER 130640 0 0 0 0 0 6699 0 14823 0 152162 0 0 0 FATHIA MACAULEY CHIEF LENDING OFFICER 176080 0 17842 0 0 0 8921 0 14610 0 217453 0 0 0 PAM BERKOWITZ VICE PRESIDENT OF MULTIFAMILY LENDIN 138085 0 15418 0 0 0 7709 0 43192 0 204404 0 0 0 STEVEN YANG DIRECTOR OF MULTIFAMILY LENDING AND 131321 0 13215 0 0 0 6608 0 8963 0 160107 0 0 0 VIVIAN VO ACCOUNTING MANAGER 121332 0 12846 0 0 0 6423 0 24431 0 165032 0 0 0 DEBORAH HAO FINANCE DIRECTOR 124000 0 6250 0 0 0 6250 0 14212 0 150712 0 0 0 FORM 990, PART III, LINE 3 THE ADU PROGRAM ENDED IN FISCAL YEAR 2022. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND APPROVED 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. THE CHIEF EXECUTIVE OFFICER OR OTHER OFFICER OR PERSON WITH SUBSTANTIAL INFLUENCE OVER HOUSING TRUST SHALL DISCLOSE TO THE BOARD ALL MATERIAL FACTS REGARDING HIS OR HER AFFILIATION WITH ANY PERSON WITH WHOM HOUSING TRUST IS CONSIDERING ENTERING A TRANSACTION. 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 CHIEF FINANCIAL OFFICER, CHIEF LENDING OFFICER, CHIEF DEVELOPMENT OFFICER, AND CHIEF COMPLIANCE & RISK OFFICER. 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. LTOA LLC 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 460669111 AFFORDABLE HOUSING CA 0 0 HOUSING TRUST SILICON VALLEY