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

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
8 mo
of spending, in cash
Looks good: 8.4 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
$75.2M
76% of total assets
Worth a look: liabilities are 76% of assets; over 65%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.6M
+74% vs prior year
Spent
$6.4M
To programs
76%
Net assets
$23.4M
By yearFY2020–FY2024
Revenue
$13.6M
FY2023▲ +74%
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
$6.4M
FY2023▲ +7%
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
$23.4M
FY2023▲ +38%
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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

76 cents of each dollar spent went to programs.

Program services 76% · $4.8M Management & general 24% · $1.5M Fundraising 0% · $11K

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

24 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Director
$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 · $4.8M · in their own filed words · FY2022
01

Assist substantially homeless, impoverished AND/OR special needs individuals and families within the san francisco bay area with obtaining adequate and affordable housing accommodations.

$4.0Mprogram expense
02

Develop and rehabilitate permanent affordable housing units to serve low-income AND/OR special needs individuals and families within the san francisco bay area.

$855Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$13.6M
Ln 12
Investment incomeLn 3$6.3M
Fees for servicesLn 2g$5.9M
Gifts and grantsLn 1h$1.4M
Money outPt IX
$6.4M
Ln 25
Programscol B$4.8M
Managementcol C$1.5M
Fundraisingcol D$11K
Owns and owesPt X
$23.4M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$98.6M
LiabilitiesLn 26$75.2M
PeoplePt VI, VII
24
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$655K
Fees for servicesLn 2g$5.9M
Investment incomeLn 3$6.3M
Other incomeLn 4–11$6K
Gains on assetsLn 7$6.3M
Total revenueLn 12$13.6M
Assets in detailPt X, end of year
CashLn 1$4.4M
Cash and savings togetherLn 1–2$4.4M
InvestmentsLn 11–13$6.2M
Land, buildings, equipmentLn 10c$61.1M
Other assetsLn 15$4.5M
Total assetsLn 16$98.6M
LiabilitiesLn 26$75.2M
Net assetsLn 32$23.4M
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 FY23End FY23
Cash and savingsLn 1–2$3.2M$4.4M
InvestmentsLn 11–13$4.3M$6.2M
Land, buildings, equipmentLn 10c$18.2M$61.1M
Total assetsLn 16$44.3M$98.6M
LiabilitiesLn 26$27.4M$75.2M
Net assetsLn 32$16.9M$23.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.1M$1.3M$752K$9K
Other employee benefitsLn 9$284K$210K$74K$1K
Payroll taxesLn 10$169K$126K$43K$587
Management feesLn 11a$679K$410K$269K
Legal feesLn 11b$21K$21K
Accounting feesLn 11c$141K$39K$102K
Other fees for servicesLn 11g$543K$413K$130K
Office expensesLn 13$173K$83K$90K
OccupancyLn 16$1.0M$1.0M
TravelLn 17$13K$12K$2K
InterestLn 20$674K$674K
Depreciation, depletion and amortizationLn 22$271K$271K
InsuranceLn 23$124K$69K$54K
Other expenses (24a–d)Ln 24$125K$108K$17K
Total functional expensesLn 25$6.4M$4.8M$1.5M$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $12.7M$10.2M$2.4M$25.8M 990 PDF
FY2023 Viewing $13.6M$6.4M$7.2M$23.4M 990 PDF
FY2022 $7.8M$5.9M$1.9M$16.9M 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $13,604,800 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,823,306$1,399,336
I-9 Program service revenuePrior year $4,882,661$5,897,008
I-10 Investment incomePrior year $8,905$6,302,858
I-11 Other revenuePrior year $126,292$5,598
I-12 Total revenuePrior year $7,841,164$13,604,800
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 $2,243,635$2,552,716
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,702,483$3,803,016
I-18 Total expensesPrior year $5,946,118$6,355,732
I-19 Revenue less expensesPrior year $1,895,046$7,249,068
Part VI · Governance 17 of 17 board members independent, 1 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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 $13,604,800 across 9 lines filed
VIII-1d Related organizations$744,340
VIII-1e Government grants$654,996
VIII-1h Total contributions, gifts and grants$1,399,336
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,897,008$5,897,008
VIII-3 Investment incomeExcluded from tax $46,806$46,806
VIII-6 Net rental income or lossExcluded from tax $52,242$52,242
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,256,052$6,256,052
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$46,644−$46,644
VIII-12 Total revenueRelated to mission $5,850,364 · Unrelated business $0 · Excluded from tax $6,355,100$13,604,800
Part IX · Statement of functional expenses $6,355,732 across 14 lines filed
IX-7 Other salaries and wagesPrograms $1,338,835 · Management $751,699 · Fundraising $8,897$2,099,431
IX-9 Other employee benefitsPrograms $209,643 · Management $73,518 · Fundraising $1,090$284,251
IX-10 Payroll taxesPrograms $125,526 · Management $42,921 · Fundraising $587$169,034
IX-11a Management feesPrograms $410,375 · Management $268,929$679,304
IX-11b Legal feesPrograms $20,587$20,587
IX-11c Accounting feesPrograms $38,908 · Management $101,827$140,735
IX-11g Other fees for servicesPrograms $413,090 · Management $130,246$543,336
IX-13 Office expensesPrograms $82,926 · Management $89,753$172,679
IX-16 OccupancyPrograms $1,039,343$1,039,343
IX-17 TravelPrograms $11,772 · Management $1,711$13,483
IX-20 InterestPrograms $674,190$674,190
IX-22 Depreciation, depletion and amortizationPrograms $270,888$270,888
IX-23 InsurancePrograms $69,337 · Management $54,203$123,540
IX-24 Other expenses (24a–d)Programs $107,772 · Management $17,159$124,931
IX-25 Total functional expensesPrograms $4,813,192 · Management $1,531,966 · Fundraising $10,574$6,355,732
Part X · Balance sheet $98,600,073 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $3,198,542$4,438,358
X-3 Pledges and grants receivableStart of year $28,091$14,079
X-4 Accounts receivableStart of year $13,955,673$22,266,177
X-9 Prepaid expenses and deferred chargesStart of year $41,176$64,343
X-10c Land, buildings and equipment, netStart of year $18,166,272$61,130,547
X-13 Program-related investmentsStart of year $4,267,667$6,171,740
X-15 Other assetsStart of year $4,666,693$4,514,829
X-16 Total assetsStart of year $44,324,114$98,600,073
X-17 Accounts payable and accrued expensesStart of year $3,559,769$8,022,698
X-19 Deferred revenueStart of year $215,469$87,662
X-25 Other liabilitiesStart of year $2,088,799$2,699,130
X-26 Total liabilitiesStart of year $27,422,971$75,193,115
X-27 Net assets without donor restrictionsStart of year $10,901,143$17,406,958
X-28 Net assets with donor restrictionsStart of year $6,000,000$6,000,000
X-32 Total net assets or fund balancesStart of year $16,901,143$23,406,958
X-33 Total liabilities and net assetsStart of year $44,324,114$98,600,073
Part XI · Reconciliation of net assets $23,406,958 net assets at year end
XI-1 Total revenue$13,604,800
XI-2 Total expenses$6,355,732
XI-3 Revenue less expenses$7,249,068
XI-4 Net assets at start of year$16,901,143
XI-9 Other changes in net assets−$743,253
XI-10 Net assets at end of year$23,406,958

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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