2021-05-13T14:12:50-05:00 2020-06-30 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2019-07-01 010716217 THE SAN FRANCISCO HOUSING ACCELERATOR FUND SANF 4156636938 2370 MARKET STREET BOX 442 NO 10 SAN FRANCISCO CA 94114 REBECCA FOSTER CEO 4156636938 2021-05-12 1 ELAINE CHANG P01404427 4153568000 2019 2022-09-23 18:48:47Z X REBECCA FOSTER 2370 MARKET STREET BOX 442 NO 103 SAN FRANCISCO CA 94114 57134044 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. 7 7 6 0 0 0 16760979 44304309 4671903 4879650 255528 368847 187801 0 21876211 49552806 0 0 0 0 451138 992071 0 0 208005 3407504 3306486 3858642 4298557 18017569 45254249 103426809 140706070 84767519 77402738 18659290 63303332 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 3542055 5248497 IN FY 2020, SFHAF CONTINUED TO GROW ITS BRIDGE LENDING PROGRAM, CLOSING 11 ADDITIONAL TRANSACTIONS FOR A TOTAL AMOUNT OF $61.5M. THE PROJECTS FINANCED INCLUDED 9 SMALL SITES PROGRAM (SSP) PROPERTIES, SEVERAL IN NEIGHBORHOODS NOT PREVIOUSLY SERVED BY THE FUND, OR NOT PREVIOUSLY SERVED BY SSP, ON THE CITY'S WEST SIDE. IN TOTAL, THE 11 PROJECTS REPRESENT 363 NEW AND PRESERVED AFFORDABLE UNITS PROVIDING HOUSING FOR 800 RESIDENTS. DURING THE YEAR, SFHAF CELEBRATED SEVERAL MAJOR MILESTONES RELATED TO ITS PROTOTYPE, 145-UNIT PERMANENT SUPPORTIVE HOUSING PROJECT AT 833 BRYANT STREET, INCLUDING SECURING BOND AND TAX CREDIT CAPITAL, AND THE COMMENCEMENT OF CONSTRUCTION FOR THE PROJECT'S MODULAR UNITS. SFHAF ALSO CONTINUED ITS EFFORTS TO CAPACITY-BUILD AND IDENTIFY NEW FUNDING SOURCES TO ENHANCE HOUSING PRESERVATION ACTIVITIES IN SAN FRANCISCO, ESPECIALLY AFTER THE ONSET OF THE CORONAVIRUS PANDEMIC IN MARCH 2020. IN COORDINATION WITH ITS DEVELOPMENT PARTNERS AT MEDA, TNDC AND CCDC, SFHAF WAS AWARDED PHILANTHROPIC FUNDING TO ENHANCE PRESERVATION EFFORTS IN LARGE MULTIFAMILY BUILDINGS 4-25 UNITS AND SRO PROPERTIES, AS WELL AS STRENGTHENING COLLABORATION AND COORDINATION AMONG THE ORGANIZATIONS. TOGETHER WITH THE COUNCIL OF COMMUNITY HOUSING ORGANIZATION (CCHO), THE FUND HAS CONTINUED TO CONVENE A MULTI-STAKEHOLDER FORUM, THE HOUSING PRESERVATION LAB ("HPL"), DESIGNED TO HELP ANTI-DISPLACEMENT PRESERVATION SCALE CITYWIDE. TO SUPPORT ITS DEVELOPMENT PARTNERS IN RESPONDING TO THE PANDEMIC, SFHAF LAUNCHED A GRANT-MAKING PROGRAM, THE "OPERATING DEFICIT GRANT PROGRAM" TO PROVIDE RELIEF FOR PROJECT-LEVEL OPERATING DEFICITS ARISING FROM COVID-19 IMPACTS. SFHAF RAISED FUNDS TO SUPPORT THE PROGRAM IN THE LAST QUARTER OF FY 2020, TO BE DISBURSED IN FY 2021. 3542055 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 21 0 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 CA X AMY BROWN MARCUM LLP 2022274188 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 RICHARD GROSS BOARD PRESIDENT 1.25 X 0 0 0 PABLO BRAVO BOARD TREASURER 1.25 X 0 0 0 LYDIA TAN SECRETARY OF THE BOARD 1.25 X 0 0 0 TYLER VAN GUNDY DIRECTOR 1.25 X 0 0 0 MEG SPRIGGS DIRECTOR 1.25 X 0 0 0 BRIGITT JANDREAU DIRECTOR 1.25 X 0 0 0 ADHI NAGRAJ DIRECTOR 1.25 X 0 0 0 REBECCA FOSTER CEO 40.00 X 218169 0 19 KATE HARTLEY CHIEF LENDING & INVESTMENT OFFICER 40.00 X 60987 0 11 JEN HAMILTON CFO 20.00 X 63970 0 5 343126 0 35 1 0 1 0 FORSYTH STREET ADVISORS 588 BROADWAY SUITE 1208 NEW YORK NY 10012 FINANCIAL ADVISORY 385920 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 ACCOUNTING SERVICES 129367 2 44304309 44304309 PROJECT LOAN INTEREST EARNINGS 900099 3484467 3484467 ORIGINATION FEE INCOME 900099 1051649 1051649 CONTRACTS REVENUE 900099 200000 200000 RENT INCOME 900099 143504 143504 OTHER REVENUE 900099 30 30 4879650 278446 278446 7671639 7581238 90401 90401 90401 49552806 5248497 0 0 X 505239 373040 66668 65531 390671 293243 46025 51403 28084 20717 4363 3004 68077 50272 8970 8835 8610 5903 1538 1169 374811 25948 348863 524048 472018 36207 15823 37595 2657 34938 67342 46290 11961 9091 13486 9248 2408 1830 2181970 2181857 64 49 2877 1973 514 390 32454 22255 5795 4404 OTHER EXPENSES 53868 36937 9620 7311 WORKERS COMP INSURANCE 9425 2354 2844 4227 4298557 3542055 548497 208005 14057736 37531174 75614 990809 80874202 93688544 34346 21749 8273523 8273523 8273523 5755 111388 194516 103426809 140706070 125098 173499 412552 120000 59668000 33618500 24283333 43421099 278536 69640 84767519 77402738 X 17089671 55884404 1569619 7418928 18659290 63303332 103426809 140706070 X 45254249 -59163 394486 -945530 X 0 1 X 1 0 X 550000 520000 260000 16760979 44304309 62395288 5248497 5248497 550000 520000 260000 16760979 49552806 67643785 0 0 0 67643785 550000 520000 260000 16760979 49552806 67643785 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8273523 8273523 8273523 INTEREST PAYABLE 69640 69640 X 49351765 -59163 394486 335323 49016442 536364 536364 49552806 4707723 394486 15040 409526 4298197 360 360 4298557 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 416,364. ADJUSTMENT TO RECOGNIZE CONTRACT REVENUE 120,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOAN LOSS RESERVE EXPENSE 15,040. PART XII, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO DEFERRED RENT 360. X X 0 0 0 0 0 0 0 0 0 REBECCA FOSTER CEO 178145 0 40000 0 24 0 0 0 19 0 218188 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 15A 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. 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 FINANCIAL ADVISORY FEES: PROGRAM SERVICE EXPENSES 472,018. MANAGEMENT AND GENERAL EXPENSES 36,207. FUNDRAISING EXPENSES 15,823. TOTAL EXPENSES 524,048. FORM 990, PART XI, LINE 9: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE -416,364. LOAN LOSS RESERVE EXPENSE -15,040. ADJUSTMENT TO DONATED LEGAL SERVICES -394,486. ADJUSTMENT TO CONTRACTS REVENUE -120,000. ADJUSTMENT TO DEFERRED RENT 360. HOMES FOR THE HOMELESS FUND LLC 2370 MARKET STREET BOX 442 NO 103 SAN FRANCISCO CA 94114 371904352 INVESTMENT AND LENDING CA 34097452 41252053 THE SAN FRANCISCO HOUSING ACCELERATOR SAN FRANCISCO HOMES FOR THE HOMELESS NO 1 LLC 2370 MARKET STREET BOX 442 NO 103 SAN FRANCISCO CA 94114 824786396 INVESTMENT AND LENDING CA 143504 8317284 THE SAN FRANCISCO HOUSING ACCELERATOR