2025-11-17T20:53:23-06:00 2024-12-31 941250261 LINDQUIST VON HUSEN & JOYCE LLP 301 HOWARD STREET SUITE 850 SAN FRANCISCO CA 94105 990PF 2024-01-01 680224594 SOLANO AFFORDABLE HOUSING FOUNDATION SOLA 7074225919 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 DON HARRIS EXECUTIVE DIRECTOR 7074225919 2025-11-17 1 0 SHERMAN LEONG P00513747 4159579999 2024 2025-03-06 01:10:19Z X 28515562 X X 9463 9463 9463 0 0 1006242 0 1006242 1015705 9463 1015705 403260 0 403260 0 393032 0 393032 0 153449 0 153449 0 1031515 0 1031515 0 35906 0 35906 0 161000 0 161000 0 626 0 626 0 43682 0 43682 0 1202 0 1202 74628 0 74628 0 7058 0 7058 0 1851978 0 1851978 0 4157336 0 4157336 0 6085 6085 4163421 0 4157336 6085 -3147716 9463 0 2131129 993681 993681 101168 101539 101539 360 79976 63482 63482 59227 58055 3028 1172 1172 16378032 27355688 27355688 18693693 28515562 28515562 48565 149373 39114 58414874 87679 58564247 X 18606014 -30048685 18606014 -30048685 18693693 28515562 18606014 -3147716 0 15458298 45506983 -30048685 132 0 132 0 132 2814 0 0 0 2814 0 2682 2682 0 0 0 0 0 0 0 0 0 0 0 1 1 CA 1 1 0 0 0 1 N/A SOLANO AFFORDABLE HOUSING FOUNDATION 7074225919 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 SCOTT STUBBS 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 TREASURER 1.00 0 0 0 VIOLA ROBERTSON 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 DIRECTOR 1.00 0 0 0 ROBERT JONES 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 DIRECTOR 1.00 0 0 0 BEV DORSETT 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 VICE CHAIRPERSON 1.00 0 0 0 DON HARRIS 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 EXECUTIVE DIRECTOR 40.00 403260 0 81986 ZACHARY WRIGHT 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 DIRECTOR 1.00 0 0 0 K PATRICE WILLIAMS 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 CHAIRPERSON 1.00 0 0 0 ROY MATHEWS 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 DIRECTOR 1.00 0 0 0 SHAREKA JOHNSON 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 SECRETARY 1.00 0 0 0 ERIN CULPEPPER-BENNETT 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 ASSET MANAGER 40.00 151123 0 22280 BRANDI DAVIS 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 EXECUTIVE ASSISTANT 40.00 124080 0 31934 MARIA DELK 1411 OLIVER ROAD SUITE 220 FAIRFIELD CA 94534 ADMINSTRATIVE ASSIST 40.00 60033 0 56855 0 LERCH STURMER LLP ONE SANSOME ST 2060 SAN FRANCISCO CA 94104 LEGAL 618620 BOUTIN JONES INC 555 CAPITOL MALL SUITE 1500 SACRAMENTO CA 95814 PROFESSIONAL FEES 150433 JOHN J ROBERT MUELLER 2320 SIERRA VISTA WAY RENO NV 89511 CONSULTING 125000 WILLIS TOWERS WATSON 333 BUSH ST FLOOR 4 SUITE 0400 SAN FRANCISCO CA 94104 CONSULTING 103041 JAMS INC 2 EMBARCADERO CTR 1500 SAN FRANCISCO CA 94111 LEGAL 73000 0 THE FOUNDATION WAS FOUNDED IN 1989 BY MUNICIPAL AGENCIES AND PRIVATE CITIZENS WITH THE SPECIFIC AND PRIMARY PURPOSE OF PROVIDING FOR AFFORDABLE HOUSING FOR VERY LOW AND/OR LOW INCOME PERSONS RESIDING OR EMPLOYED WITHIN THE COUNTY OF SOLANO AND ADJOINING COUNTIES. ACCORDINGLY, SAHF HAS DEVELOPED,CONSTRUCTED/ REHABILITATED AND OVERSEEN THE OPERATIONS OF OVER 700 RENTAL UNITS FOR VERY-LOW AND LOW INCOME FAMILIES, ELDERLY AND HANDICAPPED PERSONS. IT IS ALSO IN THE PROCESS OF DEVELOPING ADDITIONAL LOW INCOME RENTAL PROJECTS. IN ADDITION, THE FOUNDATION ALSO SERVES AS THE GENERAL PARTNER IN FIVE LOW INCOME HOUSING PARTNERSHIPS OPERATING A TOTAL OF 302 LOW AND VERY LOW INCOME HOUSING UNITS. FURTHERMORE, SAHF GUARANTEES THE OBLIGATIONS OF ANOTHER ORGANIZATION THAT IS THE GENERAL PARTNER OF THREE LOW INCOME HOUSING PARTNERSHIPS IN VALLEJO, CA OPERATING A TOTAL OF 388 LOW AND VERY LOW INCOME HOUSING UNITS. 4157336 DEVELOPMENT IN PROGRESS FOR MARINA VILLAGE, SUISUN UNION SQUARE I AND II 149467 149467 0 1454967 0 1454967 0 0 1454967 21825 1433142 71657 X 6085 149467 155552 X 0 80325 121038 190497 391860 0 68276 102882 161922 333081 155552 57228 19485 1189334 1421599 6085 6085 11085 6065 29320 149467 51143 8400 1183269 1392279 28515562 18693693 18613307 16230695 82053257 27074096 17930149 16192548 12420752 73617545 47771 93114 80692 126998 348575 0 0 0 0 X ASSIST-A-GRAD SCHOLARSHIP FOUNDATION 1111 WEBSTER STREET FAIRFIELD CA 94533 NONE PUBLIC CHARITY DONATION TO SUPPORT ANNUAL SCHOLARSHIP 6085 6085 0 ADMIN SERVICES FEES 355898 MANAGEMENT FEES 184753 INTEREST FROM DEVELOPER FEES 465591 14 9463 0 9463 1006242 1015705 1A ON A NOT FOR PROFIT BASIS, THE FOUNDATION DEVELOPS LOW INCOME HOUSING 1B AND SERVES AS GENERAL PARTNER IN FIVE LOW INCOME HOUSING PARTNERSHIPS 1C THAT PROVIDE 302 RENTAL UNITS OF AFFORDABLE HOUSING FOR LOW-INCOME 1D FAMILIES, ELDERLY AND HANDICAPPED PERSONS. IN ADDITION, THE FOUNDATION MANAGES THREE ADDITIONAL LOW INCOME HOUSING PROJECTS THAT IT DEVELOPED THAT PROVIDE 388 UNITS OF LOW INCOME HOUSING IN VALLEJO, CA. THE DEVELOPER, OVERSIGHT AND PS MANAGEMENT FEES, OTHER INCOME AND ITS SHARE OF PARTNERSHIP LOW INCOME HOUSING RENTAL ACTIVITIES PROVIDE FUND FOR THE FOUNDATION TO PROVIDE FOR THE DEVELOPMENT OF ADDITIONAL AFFORDABLE HOUSING FOR LOW INCOME FAMILIES, ELDERLY AND HANDICAPPED PERSONS IN THE COUNTY OF SOLANO. 0 0 0 0 0 0 0 0 0 0 ACCOUNTING 35906 0 35906 0 FURNITURE AND EQUIPMENT 2023-01-01 59227 56853 SL 9.000000000000 1202 0 1202 POTENTIAL EXCESSIVE COMPENSATION 990 PF, PART VI-B, LINE 1D THE FORMER EXECUTIVE DIRECTOR'S CONTRACT WAS TERMINATED IN JANUARY 2018. THE EMPLOYMENT CONTRACT EXECUTED IN 2000 BY AND BETWEEN SAHF AND THE EXECUTIVE DIRECTOR PROVIDED FOR POST-EMPLOYMENT BONUSES TO BE PAID TO THE EMPLOYEE AND/OR HIS SPOUSE ANNUALLY OVER A 20-YEAR TERM COMMENCING UPON THE YEAR OF RETIREMENT FROM SAHF.IN ADDITION, THE FORMER EXECUTIVE DIRECTOR'S EMPLOYMENT CONTRACT, WITH APPLICABLE AMENDMENTS, PROVIDES FOR SUPPLEMENTAL HEALTH CARE COVERAGE BENEFITS UP TO $3,000 PER FISCAL YEAR, INCREASED ANNUALLY BY THE APPLICABLE CPI, NOT TO EXCEED 6% IN ANY GIVEN YEAR UNTIL THE LATER OF (A) DEATH OR (B) TWENTY YEARS AFTER THE LAST DATE OF FULL-TIME EMPLOYMENT.ELIGIBILITY FOR THE BONUS IS FULLY VESTED AND REQUIRES NO FUTURE SERVICE COMMITMENT. THE ANNUAL POST-EMPLOYMENT BONUS IS CAPPED AT THE EMPLOYEE'S SALARY AT DATE OF RETIREMENT, TO BE INCREASED ANNUALLY BY THE APPLICABLE CPI, NOT TO EXCEED 6% IN ANY GIVEN YEAR. HOWEVER, DETERMINATION OF THE ANNUAL POST-EMPLOYMENT BONUS AMOUNT IS CONTINGENT UPON REPORTED CHANGES IN THE OPERATING NET ASSETS OF THE ORGANIZATION, AND PAYMENT OF AMOUNTS EARNED ARE ALSO SUPPLEMENTED BY APPLICABLE BONUS SET-ASIDE EARNINGS CARRIED FORWARD AT DATE OF RETIREMENT UNDER TERMS OF THE EMPLOYMENT CONTRACT. SINCE THE ANNUAL POST-EMPLOYMENT BONUS IS PREDICATED ON SAHF'S ANNUAL OPERATING RESULTS AND REPORTED CHANGE IN NET ASSETS, THE AMOUNT OF THE FUTURE POTENTIAL OBLIGATION FOR THE 20-YEAR TERM WAS DEEMED INDETERMINATE.BY AUTHORITY AND RESOLUTION OF THE BOARD OF DIRECTORS, A $754,018 ADVANCE PAYMENT OF THE ANNUAL POST-EMPLOYMENT BONUS WAS MADE IN DECEMBER 2012, WHICH AMOUNT WAS REPORTED AS WAGES ON THE FORMER EXECUTIVE DIRECTOR'S 2012 FORM W-2. THE ADVANCE PAYMENT IS EXPECTED TO BE OFFSET AGAINST FUTURE POST-EMPLOYMENT BONUSES, UTILIZING A DISCOUNT RATE OF 5% PER ANNUM, AND IS TO BE AMORTIZED OVER A 20-YEAR TERM COMMENCING IN THE YEAR FOLLOWING RETIREMENT OR SEPARATION FROM THE ORGANIZATION. EFFECTIVE JULY 1, 2017, MANAGEMENT DISCONTINUED ALL INTEREST ACCRUAL ON THE ADVANCE AS RECOVERY OF SUCH AMOUNTS ARE NOT ASSURED UNLESS, AND UNTIL, POST-RETIREMENT BONUSES ARE DEEMED EARNED AND PAYABLE TO THE FORMER EXECUTIVE DIRECTOR. FOR FINANCIAL REPORTING PURPOSES, SAHF HAS FULLY RESERVED THE ADVANCE.IN MARCH 2018, SAHF ELECTED TO PAY THE FORMER EXECUTIVE DIRECTOR A CLAIM FOR COMPENSATION INCLUSIVE OF CERTAIN BONUS SET-ASIDE EARNINGS AND OTHER COMPENSATION, TOTALING $553,102. SAHF'S BOARD OF DIRECTORS REPRESENTS THAT SUCH PAYMENT CONSTITUTES FULL SATISFACTION OF ALL "WHILE EMPLOYED" CLAIMS FOR EARNINGS OR OTHER COMPENSATION MADE DURING THE EXECUTIVE DIRECTOR'S TENURE AS AN EMPLOYEE. IN ACCORDANCE WITH THE TERMS OF THE EXECUTIVE DIRECTOR'S EMPLOYMENT CONTRACT, BONUS SET-ASIDE EARNINGS WERE NOT ACCRUED AS A LIABILITY SINCE PAYMENT OF SUCH AMOUNTS WERE CONTINGENT ON SAHF'S ANNUAL OPERATING RESULTS AND REPORTED CHANGE IN NET ASSETS DURING THE POST-RETIREMENT PERIOD, WHICH WAS INDETERMINATE. THE DECISION TO PAY BONUS SET-ASIDE EARNINGS AND OTHER COMPENSATION CLAIMS IN MARCH 2018 WAS A CONTEMPORANEOUS AND DISCRETIONARY DECISION OF THE BOARD OF DIRECTORS.IN SEPTEMBER 2017, THE FORMER EXECUTIVE DIRECTOR SUBMITTED AN INVOICE TO SAHF FOR ANOTHER ADVANCE PAYMENT IN THE AMOUNT OF $828,368 THAT HE CONTENDS IS PAST DUE. SAHF DISAGREES THAT ANY ADVANCE PAYMENT IS DUE. THE FORMER EXECUTIVE DIRECTOR CONTENDS HE IS ENTITLED TO RETIREMENT PAYMENTS IN EXCESS OF $3,400,000 THROUGH 2037. IN CONNECTION WITH SUCH CLAIMS, THE SAHF BOARD OF DIRECTORS RETAINED LEGAL COUNSEL IN MARCH 2019 TO ASSIST THEM IN DETERMINING WHETHER SUCH CLAIMS ARE VALID AND REASONABLE. COUNSEL OBTAINED EXPERT ADVICE FROM AN INDEPENDENT COMPENSATION EXPERT, WHICH CONCLUDED THE FORMER EXECUTIVE DIRECTOR RECEIVED EXCESSIVE COMPENSATION. THE EXCESSIVE COMPENSATION PROBABLY RESULTED IN EXCESSIVE COMPENSATION PROHIBITED TRANSACTIONS WITHIN THE MEANING OF SECTION 4941 OF THE INTERNAL REVENUE CODE. BECAUSE ANY ADDITIONAL PAYMENTS TO THE FORMER EXECUTIVE DIRECTOR COULD ALSO RESULT IN EXCESSIVE COMPENSATION PROHIBITED TRANSACTIONS, NO PAYMENT HAS BEEN MADE TO THE FORMER EXECUTIVE DIRECTOR SINCE MARCH 2018. SAHF NOTIFIED THE INTERNAL REVENUE SERVICE AND THE CALIFORNIA ATTORNEY GENERAL, CHARITABLE TRUST SECTION, OF THE FACTS REGARDING THE POSSIBLE EXCESSIVE COMPENSATION PROHIBITED TRANSACTIONS. OTHER THAN FORM LETTER ACKNOWLEDGEMENTS FROM THE IRS, IRS HAS NOT RESPONDED. THE CALIFORNIA ATTORNEY GENERAL CHARITABLE TRUST SECTION HAS OPENED A CORRESPONDENCE AUDIT. SAHF IS FULLY COOPERATING WITH THE ATTORNEY GENERAL, WHOSE OFFICE IS MONITORING THE ONGOING DISPUTE BETWEEN SAHF AND THE FORMER EXECUTIVE DIRECTOR. FURNITURE AND EQUIPMENT 59227 58055 1172 LEGAL 1031515 0 1031515 0 OTHER DEPOSITS 5772 5208 5208 RECEIVABLES FROM AFFILIATES 15643998 22327706 22327706 NOTE RECEIVABLE 367213 4858307 4858307 INTEREST RECEIVABLE 14081 15000 15000 DEVELOPMENT IN PROGRESS 74405 149467 149467 INVESTMENT IN PARTNERSHIPS 272563 0 0 PRIOR YEAR ADJUSTMENT 45506983 ADVERTISING AND MARKETING 2679 0 2679 0 BANK CHARGES 703 0 703 0 DEVELOPER FEES 932392 0 932392 0 DUES AND SUBSCRIPTIONS 6350 0 6350 0 INSURANCE 65073 0 65073 0 LOSS FROM PARTNERSHIPS 744870 0 744870 0 MISC. TAXES & LICENSE FEE 310 0 310 0 MISCELLANEOUS EXPENSES 930 0 930 0 OFFICE SUPPLIES AND EXPENSES 41727 0 41727 0 PARTNERSHIP EXPENSES 5900 0 5900 0 PENSION COST 38240 0 38240 0 STAFF DEVELOPMENT 1195 0 1195 0 WEBSITE EXPENSES 9396 0 9396 0 WORKER'S COMPENSATION INSURANCE 2213 0 2213 0 ADMIN SERVICES FEES 355898 355898 MANAGEMENT FEES 184753 184753 INTEREST FROM DEVELOPER FEES 465591 465591 INTEREST PAYABLE 20480 21106 RELATED PARTY PAYABLE 4724 0 NOTES PAYABLE 13910 4513910 INVESTMENT IN PARTNERSHIPS 0 53879858 CONSULTING 161000 0 161000 0 PAYROLL TAXES 43682 0 43682 0