Develop and provide affordable Housing or low-income and special needs households.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $3.7M a year · 37% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
9 mo
of spending, in cash
Plus $4.2M in investments, Pt X · Ln 11–13
Looks good: 9.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $100K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$40.8M
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10.4M
+91% vs prior year
Spent
$4.2M
To programs
86%
Net assets
$8.8M
By yearFY2020–FY2024
Revenue
$10.4M
FY2021▲ +91%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.5M
FY2021$10.4M
FY2022$7.8M
FY2023$13.6M
FY2024$12.7M
FY2024$16.0M
Expenses
$4.2M
FY2021▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.8M
FY2021$4.2M
FY2022$5.9M
FY2023$6.4M
FY2024$10.2M
FY2024$15.8M
Net assets
$8.8M
FY2021▲ +235%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.6M
FY2021$8.8M
FY2022$16.9M
FY2023$23.4M
FY2024$25.8M
FY2024$23.6M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1994.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $3.6M Management & general 13% · $556K Fundraising 1% · $51K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

23 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Director
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Director
$0Pt VII · Sec A
Board Director
$0Pt VII · Sec A
Board Director
$0Pt VII · Sec A

Louis Chicoine’s $251K as Chief Executive Officer is at the 66th percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Abode Housing Development executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops and rehabilitates permanent affordable housing for low-income and special needs individuals and families in the San Francisco Bay Area.

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Provided by the organization

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2 programs · $3.6M · in their own filed words · FY2020
01

Assist substantially homeless, impoverished AND/OR special needs individuals and families within alameda county with obtaining adequate and affordable housing accomodations.

$2.9Mprogram expense
02

Develop and rehabilitate permanent affordable housing units to serve low income AND/OR special needs individuals and families within alameda county.

$670Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$100K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$10.4M
Ln 12
Fees for servicesLn 2g$5.5M
Investment incomeLn 3$2.5M
Gifts and grantsLn 1h$1.8M
Money outPt IX
$4.2M
Ln 25
Programscol B$3.6M
Managementcol C$556K
Fundraisingcol D$51K
Owns and owesPt X
$8.8M
net assets · Ln 32
Cash and savingsLn 1–2$3.3M
Total assetsLn 16$49.6M
LiabilitiesLn 26$40.8M
PeoplePt VI, VII
23
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.8M
Government grantsLn 1e$1.3M
Fees for servicesLn 2g$5.5M
Investment incomeLn 3$2.5M
Other incomeLn 4–11$639K
Gains on assetsLn 7$2.5M
Total revenueLn 12$10.4M
Assets in detailPt X, end of year
CashLn 1$3.3M
Cash and savings togetherLn 1–2$3.3M
InvestmentsLn 11–13$4.2M
Land, buildings, equipmentLn 10c$30.2M
Other assetsLn 15$4.7M
Total assetsLn 16$49.6M
LiabilitiesLn 26$40.8M
Net assetsLn 32$8.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.4M$3.3M
InvestmentsLn 11–13$3.7M$4.2M
Land, buildings, equipmentLn 10c$39.7M$30.2M
Total assetsLn 16$47.3M$49.6M
LiabilitiesLn 26$44.7M$40.8M
Net assetsLn 32$2.6M$8.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.3M$971K$313K$42K
Other employee benefitsLn 9$186K$142K$38K$6K
Payroll taxesLn 10$100K$76K$20K$3K
Management feesLn 11a$265K$265K
Legal feesLn 11b$47K$47K
Accounting feesLn 11c$177K$47K$130K
Other fees for servicesLn 11g$437K$437K
Office expensesLn 13$131K$108K$23K
OccupancyLn 16$721K$721K
TravelLn 17$8K$7K$1K
InterestLn 20$263K$263K
Depreciation, depletion and amortizationLn 22$281K$281K
InsuranceLn 23$61K$31K$29K
Other expenses (24a–d)Ln 24$210K$210K$102
Total functional expensesLn 25$4.2M$3.6M$556K$51K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $12.7M$10.2M$2.4M$25.8M 990 PDF
FY2023 $13.6M$6.4M$7.2M$23.4M 990 PDF
FY2022 $7.8M$5.9M$1.9M$16.9M 990 PDF
FY2021 Viewing $10.4M$4.2M$6.2M$8.8M 990 PDF
FY2020 $5.5M$4.8M$670K$2.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $10,420,708 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $775,996$1,758,469
I-9 Program service revenuePrior year $4,432,565$5,546,186
I-10 Investment incomePrior year $2,597$2,476,919
I-11 Other revenuePrior year $240,803$639,134
I-12 Total revenuePrior year $5,451,961$10,420,708
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,686,584$1,611,481
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,095,406$2,599,456
I-18 Total expensesPrior year $4,781,990$4,210,937
I-19 Revenue less expensesPrior year $669,971$6,209,771
Part VI · Governance 14 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $10,420,708 across 10 lines filed
VIII-1d Related organizations$150,000
VIII-1e Government grants$1,333,087
VIII-1f All other contributions, gifts and grants$275,382
VIII-1h Total contributions, gifts and grants$1,758,469
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,546,186$5,546,186
VIII-3 Investment incomeExcluded from tax $5,925$5,925
VIII-6 Net rental income or lossUnrelated business $65,765 · Excluded from tax $13,271$79,036
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,470,994$2,470,994
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $560,098$560,098
VIII-12 Total revenueRelated to mission $6,106,284 · Unrelated business $65,765 · Excluded from tax $2,490,190$10,420,708
Part IX · Statement of functional expenses $4,210,937 across 14 lines filed
IX-7 Other salaries and wagesPrograms $970,685 · Management $312,920 · Fundraising $42,414$1,326,019
IX-9 Other employee benefitsPrograms $141,901 · Management $37,975 · Fundraising $5,676$185,552
IX-10 Payroll taxesPrograms $76,408 · Management $20,448 · Fundraising $3,054$99,910
IX-11a Management feesPrograms $264,697$264,697
IX-11b Legal feesPrograms $46,750$46,750
IX-11c Accounting feesPrograms $47,249 · Management $130,133$177,382
IX-11g Other fees for servicesPrograms $436,739$436,739
IX-13 Office expensesPrograms $107,882 · Management $23,427$131,309
IX-16 OccupancyPrograms $720,613$720,613
IX-17 TravelPrograms $7,118 · Management $1,301$8,419
IX-20 InterestPrograms $262,683$262,683
IX-22 Depreciation, depletion and amortizationPrograms $280,513$280,513
IX-23 InsurancePrograms $31,288 · Management $29,227$60,515
IX-24 Other expenses (24a–d)Programs $209,734 · Management $102$209,836
IX-25 Total functional expensesPrograms $3,604,260 · Management $555,533 · Fundraising $51,144$4,210,937
Part X · Balance sheet $49,648,771 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $1,416,216$3,276,590
X-3 Pledges and grants receivableStart of year $42,271$65,605
X-4 Accounts receivableStart of year $1,861,429$7,214,074
X-9 Prepaid expenses and deferred chargesStart of year $19,992$31,255
X-10c Land, buildings and equipment, netStart of year $39,694,049$30,175,149
X-13 Program-related investmentsStart of year $3,677,675$4,218,357
X-15 Other assetsStart of year $608,729$4,667,741
X-16 Total assetsStart of year $47,320,361$49,648,771
X-17 Accounts payable and accrued expensesStart of year $1,610,488$2,659,805
X-19 Deferred revenueStart of year $139,525$142,216
X-25 Other liabilitiesStart of year $5,785,873$7,536,293
X-26 Total liabilitiesStart of year $44,683,089$40,801,728
X-27 Net assets without donor restrictionsStart of year $2,637,272$8,847,043
X-32 Total net assets or fund balancesStart of year $2,637,272$8,847,043
X-33 Total liabilities and net assetsStart of year $47,320,361$49,648,771
Part XI · Reconciliation of net assets $8,847,043 net assets at year end
XI-1 Total revenue$10,420,708
XI-2 Total expenses$4,210,937
XI-3 Revenue less expenses$6,209,771
XI-4 Net assets at start of year$2,637,272
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,847,043

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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