2018-05-15T10:36:52-05:00 2017-06-30 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2016-07-01 010716217 THE SAN FRANCISCO HOUSING ACCELERATOR FUND SANF 4156636938 369 PINE STREET NO 350 SAN FRANCISCO CA 94104 REBECCA FOSTER EXECUTIVE DIRECTOR 4156636938 2018-05-15 1 OWEN GRAY P00233570 4153568000 2016 2022-09-23 18:48:47Z X REBECCA FOSTER 369 PINE STREET SUITE 350 SAN FRANCISCO CA 94104 744809 0 X WWW.SFHAF.ORG X 2002 CA THE SAN FRANCISCO HOUSING ACCELERATOR FUND SUPPORTS AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT OF THE CITY AND COUNTY OF SAN FRANCISCO'S ECONOMICALLY DISADVANTAGED INDIVIDUALS AND COMMUNITIES, BY LENDING TO, INVESTING IN, AND DIRECTLY ACQUIRING SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT REAL ESTATE ASSETS. 6 6 0 0 0 0 550000 520000 0 176650 0 48159 0 0 550000 744809 0 0 0 0 0 113563 0 0 24551 67079 361148 67079 474711 482921 270098 502151 25626143 19230 25057453 482921 568690 X THE CORPORATION'S SPECIFIC PURPOSE IS TO SUPPORTS AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT AND ECONOMIC DEVELOPMENT OF THE CITY AND COUNTY OF SAN FRANCISCO'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 401061 224809 SFHAF CLOSED A LOAN TO BRIDGE HOUSING CORPORATION FOR A VACANT SITE AT 4840 MISSION STREET IN SAN FRANCISCO. THE LOAN WAS CLOSED ON JUNE 7, 2017 AND TOTALED $9.0M. THE LOAN PROCEEDS WILL BE USED FOR 175 NEW AFFORDABLE HOUSING UNITS AND A GROUND FLOOR COMMUNITY HEALTH CLINIC. WITHOUT THE FUND, BRIDGE'S PURCHASE AGREEMENT ON THIS STRATEGIC SITE WOULD HAVE EXPIRED.SFHAF CLOSED A LOAN TO MISSION ECONOMIC DEVELOPMENT AGENCY (MEDA) FOR ACQUISITION AND REHABILITATION OF A 6-UNIT PROPERTY AT 1411 FLORIDA STREET IN SAN FRANCISCO. THIS LOAN WAS CLOSED ON MAY 24, 2017 AND TOTALED $3.5M. THE LOAN PROCEEDS WILL BE USED TO REHABILITATE AND PRESERVE 6 AFFORDABLE HOUSING UNITS, AND BUILD AN ADDITIONAL ACCESSORY DWELLING UNIT (ADU). THE ADU IS A FIRST FOR THE CITY'S SMALL SITES PROGRAM, ALLOWING LONGTIME ELDERLY TENANTS TO AGE IN PLACE IN A NEW GROUND FLOOR APARTMENT.SFHAF CLOSED ITS FIRST ROUND OF CAPITAL IN APRIL, $37 MILLION IN TOTAL LED BY INVESTMENTS OF $20 MILLION FROM CITI COMMUNITY CAPITAL, $10 MILLION FROM THE CITY OF SAN FRANCISCO, AND $6.5 MILLION PHILANTHROPIC CAPITAL FROM DIGNITY HEALTH, THE SAN FRANCISCO FOUNDATION, AND THE HEWLETT FOUNDATION. 401061 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 CA X GWEN CRANE RAFFA ACCOUNTING 2028225000 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 RICHARD GROSS PRESIDENT 1.25 X 0 0 0 LYDIA TAN SECRETARY 1.25 X 0 0 0 PABLO BRAVO TREASURER 1.25 X 0 0 0 REBECCA FOSTER EXECUTIVE DIRECTOR 40.00 X 113563 0 0 113563 0 0 1 0 0 0 FORSYTH STREET 588 BROADWAY SUITE 1208 NEW YORK NY 10012 CONSULTING 210700 1 520000 520000 ORIGINATION FEE 900099 176650 176650 176650 48159 48159 744809 224809 0 0 X 113563 99935 9085 4543 69974 43985 17326 8663 27779 24446 2222 1111 210700 185416 16856 8428 900 792 72 36 40590 35719 3247 1624 3638 3201 291 146 CONSULTING 3996 3996 PROPERTY APPRAISALS 3000 3000 EQUIPMENT AND FURNITURE 287 287 OTHER EXPENSES 284 284 474711 401061 49099 24551 14286422 30000 0 472151 0 0 11317529 0 22192 502151 25626143 19230 48546 0 9720000 0 15250000 0 38907 19230 25057453 X 482921 568690 482921 568690 502151 25626143 X 270098 11047 149603 -344979 X 0 1 X 0 0 X 550000 520000 1070000 550000 520000 1070000 0 0 0 1070000 550000 520000 1070000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INTEREST PAYABLE 38907 38907 X 738865 11047 149603 160650 578215 166594 166594 744809 653096 149603 28782 178385 474711 0 474711 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 166,594. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR 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 BYLAW. 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 185,416. MANAGEMENT AND GENERAL EXPENSES 16,856. FUNDRAISING EXPENSES 8,428. TOTAL EXPENSES 210,700. FORM 990, PART XI, LINE 9: ADJUSTMENT TO RECOGNIZE ORIGINATION FEE -166,594. LOAN LOSS RESERVE EXPENSE -28,782. DONATED GOODS AND SERVICES -149,603.