2020-03-14T20:01:01-05:00 2019-06-30 952835976 MACFARLANE FALETTI & CO LLP 115 E MICHELTORENA ST 200 SANTA BARBARA CA 93101 990 2018-07-01 432007672 HOUSING TRUST FUND OF SANTA BARBARA COUNTY INC HOUS 8056851949 PO BOX 60909 SANTA BARBARA CA 931600909 ROGER L HORTON CHAIRMAN OF THE BOARD 8056851949 2019-12-04 1 TRAVIS J WILSON P00544237 8059664157 64.88.174.3 2019-12-04 10:54:44 PS P 8538ED07B09E526FF20C1F58B2F6F3372278E923 90D47227EE3C59BF6A994D2D496EF7EDBFE21871 2018 2020-09-23 17:36:50Z ROGER L HORTON PO BOX 60909 SANTA BARBARA CA 931600909 318683 0 X WWW.SBHOUSINGTRUST.ORG X 2002 CA THE HOUSING TRUST FUND'S MISSION IS TO PROVIDE AFFORDABLE HOUSING OPPORTUNITIES TO LOW, MODERATE AND MIDDLE INCOME RESIDENTS OF SANTA BARBARA COUNTY. 8 8 2 0 0 0 445200 144150 133138 167759 459 6774 0 0 578797 318683 0 0 0 0 200300 215068 0 0 6906 98812 97347 299112 312415 279685 6268 6246708 6383016 2060125 2190165 4186583 4192851 X THE HOUSING TRUST FUND HELPS MAINTAIN THE SOCIO-ECONOMIC FABRIC OF SANTA BARBARA COUNTY BY SUPPORTING THE FUNDAMENTAL BUILDING BLOCK OF SUSTAINABLE COMMUNITIES-AFFORDABLE HOUSING. HOUSING TRUST FUND CREATES INNOVATIVE PARTNERSHIPS AND NEW SOURCES OF REVENUE DEDICATED TO EXPANDING HOUSING OPPORTUNITIES FOR LOW, MODERATE AND MIDDLE INCOME RESIDENTS. HOUSING TRUST FUND FUNDS AFFORDABLE HOUSING OPPORTUNITIES THAT ENHANCE THE QUALITY OF LIFE AND PRESERVE THE AFFORDABILITY OF HOUSING FOR FUTURE GENERATIONS. 0 0 259705 167759 THE HOUSING TRUST FUND'S (HTF) PRIMARY ACTIVITY IS A $6.9 MILLION REVOLVING LOAN FUND FOR AFFORDABLE HOUSING THAT PROVIDES LOW-COST LOANS TO QUALIFIED SPONSORS OF AFFORDABLE HOUSING THAT SERVE LOW-TO-MODERATE INCOME HOUSEHOLDS. HTF PROVIDES DIRECT LOANS FOR SITE ACQUISITION, PREDEVELOPMENT AND CONSTRUCTION COSTS, AND PERMANENT GAP FINANCING FOR RENTAL AND HOMEOWNERSHIP PROJECTS THAT EXPAND OR PRESERVE THE COUNTY'S AFFORDABLE HOUSING STOCK. HTF ALSO PROVIDES FREE TECHNICAL ASSISTANCE TO HELP GROUPS: 1)DETERMINE IF THEY HAVE A FEASIBLE PROJECT, 2)CONNECT THEM TO DEVELOPMENT EXPERTISE, AND 3) ASSIST THEM IN APPLYING FOR HTF LOANS. HTF SUPPORTS THE INITIATION OF AFFORDABLE HOUSING PROJECTS BY COMMUNITY GROUPS WHERE PROJECTS MIGHT NOT OTHERWISE PROCEED. HTF FACILITATES PROJECTS SPONSORED BY EXPERIENCED DEVELOPERS, AND HELPS REDUCE PROJECT DEVELOPMENT COST. 100% OF LOAN FUND ACTIVITY TO DATE HAS BEEN DIRECTED TO PROJECTS THAT SERVE LOWER INCOME HOUSEHOLDS IN SANTA BARBARA COUNTY EARNING A MAXIMUM OF 80% OF AREA MEDIAN INCOME.HTF ALSO OPERATES A COUNTYWIDE WORKFORCE HOMEBUYER PROGRAM THAT PROVIDES DEFERRED PAYMENT OR LOW-COST INTEREST-ONLY DOWN PAYMENT LOANS TO FIRST-TIME LOW, MODERATE AND MIDDLE-INCOME HOMEBUYERS. 259705 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X JENNIFER MCGOVERN 8056851949 30 WINCHESTER CANYON RD 127 GOLETA CA 93117 SHERYL FLORES DIRECTOR 1.00 X 0 0 0 MICHAEL BENNETT DIRECTOR 1.00 X 0 0 0 LUIS VILLEGAS DIRECTOR 1.00 X 0 0 0 JESSICA WISHAN DIRECTOR 1.00 X 0 0 0 KRISTEN MILLER BOARD SECRETARY 1.00 X X 0 0 0 ROGER L HORTON BOARD CHAIRMAN 1.00 X X 0 0 0 DEWAYNE HOLMDAHL BOARD VICE CHAIRMAN 1.00 X X 0 0 0 ROB FREDERICKS BOARD TREASURER 1.00 X X 0 0 0 JENNIFER MCGOVERN PRESIDENT/CEO 40.00 X 115500 0 13665 115500 0 13665 1 0 0 0 0 25000 119150 144150 LOAN PROGRAM REVENUE 522291 167759 167759 167759 6774 6774 318683 167759 0 6774 129165 112374 10333 6458 63750 63750 8188 8188 13965 12800 717 448 1528 1528 27718 27718 3611 3611 3470 3470 14614 12618 1996 1392 1392 924 924 38693 38693 714 357 357 4683 4683 312415 259705 45804 6906 101251 135730 3918111 3359662 2222173 2885643 2801 323 7567 6459 1822 1108 550 550 6246708 6383016 3125 3125 2057000 2187040 2060125 2190165 X 3294083 3300351 892500 892500 4186583 4192851 6246708 6383016 6268 0 X X 0 1 X 1 0 X 42900 387500 537500 445200 144150 1557250 42900 387500 537500 445200 144150 1557250 32826 1524424 5245 14277 425 459 226 20632 1577882 567331 0.96610 0.99230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7567 6459 1108 1108 X 318683 0 318683 0 318683 312415 0 312415 0 312415 PART X, LINE 2: THE ORGANIZATION EVALUATES UNCERTAIN TAX POSITIONS, WHEREBY THE EFFECT OF THE UNCERTAINTY WOULD BE RECORDED IF THE OUTCOME WAS CONSIDERED PROBABLE AND REASONABLY ESTIMABLE. AS OF JUNE 30, 2019, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL. THE ORGANIZATION FILES INFORMATIONAL TAX RETURNS IN U.S. FEDERAL AND CALIFORNIA JURISDICTIONS AND IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE TAX EXAMINATIONS BY TAX AUTHORITIES FOR FISCAL YEARS ENDING BEFORE JUNE 30, 2016 AND JUNE 30, 2015, RESPECTIVELY. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PERFORMED A DETAILED REVIEW OF THE 990. AFTER MANAGEMENT'S REVIEW, THE 990 WAS CIRCULATED TO ALL BOARD MEMBERS VIA EMAIL FOR REVIEW. SUFFICIENT TIME WAS ALLOWED FOR ADDRESSING COMMENTS OR QUESTIONS. THE BOARD OF DIRECTORS APPROVED THE FILING OF FORM 990 FOR THE PERIOD ENDED JUNE 30, 2019. FORM 990, PART VI, SECTION B, LINE 12C PART VI, SECTION B, QUESTION 12C TRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; 2. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; 3. A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS; AND 4. THE BOARD HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. DISCLOSURE INVOLVING VOLUNTEERS IN THE ORGANIZATION SHOULD BE MADE TO THE BOARD CHAIR, WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE BOARD OF DIRECTORS. DISCLOSURE INVOLVING DIRECTORS AND COMMITTEE MEMBERS SHOULD BE MADE TO THE BOARD CHAIR, (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD TREASURER) WHO SHALL BRING THESE MATTERS TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS DETERMINES WHETHER A CONFLICT EXISTS AND IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO THE ORGANIZATION. THE DECISION OF THE BOARD OF DIRECTORS ON THESE MATTERS WILL REST IN ITS SOLE DISCRETION, AND ITS CONCERN MUST BE THE WELFARE OF THE ORGANIZATION AND THE ADVANCEMENT OF ITS PURPOSE. THE CONFLICT OF INTEREST DISCLOSURE STATEMENT WILL BE COMPLETED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A DETERMINING COMPENSATION FOR EXECUTIVE MANAGEMENT IS DONE BY AN INDEPENDENT REVIEW BY THE BOARD OF DIRECTORS. THE REVIEW INCLUDES USE OF COMPARABILITY DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. APPROVED COMPENSATION IS BUDGETED AND CONTEMPORANEOUS DOCUMENTATION REGARDING THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT ARE MEMORIALIZED IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION HAS FORM 1023 ALONG WITH THE ORIGINALLY FILED BYLAWS FOR THE ORGANIZATION AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE MADE AVAILABLE AT THE ORGANIZATION'S OFFICE DURING NORMAL BUSINESS HOURS OR BY REQUEST. FORM 990 PAGE 12, PART XII LINE 2C THE ORGANIZATION'S JOINT AUDIT AND FINANCE COMMITTEE ASSUMES RESPONSIBILITY AND OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF INDEPENDENT ACCOUNTANTS. FORM 990, PART VI, SECTION A, LINE 1A: AUTHORITY DELEGATED TO EXECUTIVE COMMITTEE EXPLANATION: PER THE BYLAWS, THE BOARD MAY, BY A MAJORITY VOTE OF DIRECTORS, DESIGNATE TWO OR MORE OF ITS MEMBERS, WHO MAY ALSO BE SERVING AS OFFICERS OF THIS CORPORATION, TO CONSTITUTE AN EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE, COMPOSED OF BOARD CHAIRMAN, BOARD VICE-CHAIRMAN, TREASURER, AND SECRETARY, IS AUTHORIZED TO ACT ON BEHALF OF THE BOARD, WITH CERTAIN EXCEPTIONS, SUCH AS AMENDING THE BYLAWS. THE EXECUTIVE COMMITTEE MET TWO TIMES DURING THE YEAR ENDED JUNE 30, 2019. ALL ACTIONS OF THE EXECUTIVE COMMITTEE ARE REPORTED TO AND RATIFIED BY THE FULL BOARD OF TRUSTEES.