2023-05-12T16:10:36-05:00 2022-06-30 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2021-07-01 010716217 THE SAN FRANCISCO HOUSING ACCELERATOR FUND SANF 4156636938 244 KEARNY ST 5TH FLOOR SAN FRANCISCO CA 94108 TAMAR DORFMAN CFO 4156636938 2023-05-12 1 TAMAR DORFMAN 999009999 ELAINE CHANG P01404427 4153568000 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z X TAMAR DORFMAN 244 KEARNY ST 5TH FLOOR SAN FRANCISCO CA 94108 24665429 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 7 0 0 0 4129830 18176870 4800197 5455074 73143 70621 0 0 9003170 23702565 119092 0 0 0 1272403 1306568 0 0 212333 2141995 2557962 3533490 3864530 5469680 19838035 152166853 204353715 83576498 116649049 68590355 87704666 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 3108616 0 5525695 WITHIN ITS ANTI-DISPLACEMENT LENDING PROGRAM, THE FUND CONTINUED TO SUPPORT ITS DEVELOPMENT PARTNERS TO EXPAND THE SMALL SITES PROGRAM AND BIG SITES PROGRAM THROUGHOUT THE CITY AND LOOKED TO SUPPORT A WIDER RANGE OF CITY AND SPONSOR-LED PRESERVATION PROGRAMS, BORROWERS, AND COMMUNITY BENEFIT ORGANIZATION (CBO) PARTNERSHIPS. OVER THE COURSE OF THE FISCAL YEAR, THE FUND SUPPORTED THE ACQUISITION OF SEVEN SMALL SITES OR BIG SITES PROPERTIES, SUPPORTING THE PRESERVATION OF OVER 125 ADDITIONAL UNITS.WITHIN THE FUND'S UNDERUTILIZED LAND ACQUISITION AND BRIDGE LOAN PROGRAM, THE FUND CELEBRATED THE CLOSING OF A PREDEVELOPMENT LOAN TO MERCY HOUSING CALIFORNIA. LOAN PROCEEDS WILL BE USED TO SUPPORT PREDEVELOPMENT EXPENSES FOR THE DEVELOPMENT OF A NEW PROGRAMMING AND SERVICES SPACE FOR THE HOMELESS PRENATAL PROGRAM. IN ADDITION, 73 UNITS OF AFFORDABLE HOUSING, WITH HALF THE UNITS DESIGNATED TO SUPPORT FAMILIES BELOW 30% AMI, WILL BE ADDED TO THE UPPER FLOORS.LASTLY, THE FUND CELEBRATED MAJOR MILESTONES RELATED TO ITS PERMANENT SUPPORTIVE HOUSING INVESTMENT AND LENDING PROGRAM. THE FUND LAUNCHED A NEW PERMANENT LOAN PRODUCT TO SUPPORT THE PERMANENT AFFORDABILITY OF 80 UNITS OF SRO-STYLE HOUSING IN THE MISSION, WITH ALL UNITS SUPPORTING HOUSEHOLDS BELOW 30% AMI THAT HAVE PREVIOUSLY EXPERIENCED HOMELESSNESS. THROUGH THE FUND'S WHOLLY OWNED SUBSIDIARY, THE HOMES FOR THE HOMELESS FUND ("HHF"), HAF CONTINUED TO MAKE SIGNIFICANT PROGRESS ON ITS PROTOTYPE PROJECT AT 833 BRYANT STREET, THE TAHANAN, OVER THE COURSE OF THE REPORTING PERIOD, WITH ALL UNITS BEING FULLY LEASED AND OCCUPIED BY Q3. WITH FUNDS THAT HAVE STARTED TO REVOLVE FROM THIS PROJECT, THE FUND BEGAN THE PROCESS OF IDENTIFYING POTENTIAL SITES FOR A SECOND NEW CONSTRUCTION, PSH PROJECT. BY THE CLOSE OF THE REPORTING PERIOD, THE FUND HAD EXTENDED A SMALL PREDEVELOPMENT LOAN TO MERCY HOUSING CALIFORNIA (THE DEVELOPER OF THE TAHANAN) TO SUPPORT PREDEVELOPMENT EXPENSES FOR A NEW POTENTIAL PSH PROJECT LOCATED ON THE BORDERS OF THE MISSION AND BERNAL HEIGHTS NEIGHBORHOODS. 3108616 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 20 0 7 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 244 KEARNY STREET SAN FRANCISCO CA 94108 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 REBECCA FOSTER CEO 40.00 X 253460 0 2516 TAMAR DORFMAN CFO 40.00 X 218560 0 2516 KATE HARTLEY CHIEF LENDING & INVESTMENT 40.00 X 240910 0 2516 712930 0 7548 3 0 1 0 FORSYTH STREET ADVISORS LLC 588 BROADWAY SUITE 1208 NEW YORK NY 10012 FINANCIAL ADVISORY 331168 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 ACCOUNTING SERVICES 130431 2 18176870 18176870 PROJECT LOAN INTEREST EARNINGS 900099 3556001 3556001 ORIGINATION FEE INCOME 900099 773853 773853 CONTRACTS REVENUE 900099 639676 639676 UPSIZE FEE INCOME 900099 221164 221164 OTHER INCOME 900099 147000 147000 117380 117380 5455074 77326 77326 956159 962864 -6705 -6705 -6705 23702565 5525695 0 0 X 681992 439803 154588 87601 499813 358519 71503 69791 55403 38674 9859 6870 69360 46176 13928 9256 223562 21548 202014 5500 5500 917535 871635 45900 23159 5273 1550 16336 31631 21158 6220 4253 49720 33258 9777 6685 1217936 1217936 5594 5594 35574 23795 6996 4783 GENERAL OPERATING SUPPL 30063 19372 6797 3894 WORKERS COMP INSURANCE 17688 11469 3355 2864 3864530 3108616 543581 212333 57566740 74780974 1391623 3795320 84669005 117273672 33137 44462 8273523 8273523 8273523 2877 13583 229948 172181 152166853 204353715 162536 168432 0 30000 34342000 59249000 48962000 57015000 109962 186617 83576498 116649049 X 65641046 83458427 2949309 4246239 68590355 87704666 152166853 204353715 X 19838035 -77911 77798 -723611 X 0 1 X 1 1 1 X 260000 16760979 44304309 4129830 18176870 83631988 5248497 4873340 5525695 15647532 260000 16760979 49552806 9003170 23702565 99279520 0 0 0 99279520 260000 16760979 49552806 9003170 23702565 99279520 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8273523 8273523 8273523 INTEREST PAYABLE 186617 186617 X 23115219 -77911 77798 -113 23115332 5500 581733 587233 23702565 4000908 77798 64080 141878 3859030 5500 5500 3864530 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 253,423. ADJUSTMENT TO RECOGNIZE UPSIZE FEE 216,950. ADJUSTMENT TO RECOGNIZE EXTENSION FEE 81,360. ADJUSTMENT TO RECOGNIZE CONTRACT REVENUE 30,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE EXPENSE 64,080. X X 0 0 0 0 0 0 0 0 0 REBECCA FOSTER CEO 199460 0 54000 0 0 0 2500 0 16 0 255976 0 0 0 TAMAR DORFMAN CFO 184560 0 34000 0 0 0 2500 0 16 0 221076 0 0 0 KATE HARTLEY CHIEF LENDING & INVESTMENT 197560 0 43350 0 0 0 2500 0 16 0 243426 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 871,635. MANAGEMENT AND GENERAL EXPENSES 45,900. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 917,535. FORM 990, PART XI, LINE 9: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE -253,423. ADJUSTMENT TO RECOGNIZE UPSIZE FEE INCOME -216,950. ADJUSTMENT TO RECOGNIZE EXTENSION FEE INCOME -81,360. ADJUSTMENT TO DONATED LEGAL SERVICES -77,798. LOAN LOSS RESERVE EXPENSE -64,080. ADJUSTMENT TO CONTRACTS REVENUE -30,000. HOMES FOR THE HOMELESS FUND LLC 244 KEARNY ST 5TH FLOOR SAN FRANCISCO CA 94108 371904352 INVESTMENT AND LENDING CA 332978 35841639 THE SAN FRANCISCO HOUSING ACCELERATOR SAN FRANCISCO HOMES FOR THE HOMELESS NO 1 LLC 244 KEARNY ST 5TH FLOOR SAN FRANCISCO CA 94108 824786396 INVESTMENT AND LENDING CA 0 8575468 THE SAN FRANCISCO HOUSING ACCELERATOR