Civic Intelligence

Affordable Housing Access Inc.

990 • Fiscal year 2017 • EIN 31-1682049

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 13, 2018

Organization Profilewww.ahaccess.org

View Organization Page

3920 Birch StreetNewport Beach, CA 92660

(949) 253-3120

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

74th percentile

0.55x

Higher debt load relative to assets than 74% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

88th percentile

2.39x

Higher debt load relative to revenue than 88% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

52nd percentile

3.6%

Higher net margin than 52% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

92nd percentile

$857,062

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 10.3% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets74th percentile

Assets

$36,230,667

No earlier filing loaded for comparison.

Net Assets

$16,339,864

No earlier filing loaded for comparison.

Liabilities

$19,890,803

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin52nd percentile

Revenue

$8,318,733

No earlier filing loaded for comparison.

Expenses

$8,018,610

No earlier filing loaded for comparison.

Net Income

$300,123

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2017: $36,230,667Liabilities 2017: $19,890,803Net Assets 2017: $16,339,8642017Assets 2018: $38,981,201Liabilities 2018: $20,074,685Net Assets 2018: $18,906,5162018Assets 2019: $43,580,362Liabilities 2019: $20,823,616Net Assets 2019: $22,756,7462019Assets 2021: $56,686,131Liabilities 2021: $28,568,267Net Assets 2021: $28,117,8642021Assets 2022: $80,590,550Liabilities 2022: $51,329,100Net Assets 2022: $29,261,4502022Assets 2024: $111,083,332Liabilities 2024: $63,154,822Net Assets 2024: $47,928,5102024

Highlighted filing

2017

Assets$36,230,667
Liabilities$19,890,803
Net Assets$16,339,864
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2017: $8,318,733Expenses 2017: $8,018,610Net Income 2017: $300,1232017Revenue 2018: $11,121,198Expenses 2018: $8,405,366Net Income 2018: $2,715,8322018Revenue 2019: $12,858,305Expenses 2019: $9,128,825Net Income 2019: $3,729,4802019Revenue 2021: $8,914,111Expenses 2021: $10,858,067Net Income 2021: -$1,943,9562021Revenue 2022: $12,245,141Expenses 2022: $11,669,374Net Income 2022: $575,7672022Revenue 2024: $17,498,638Expenses 2024: $17,640,300Net Income 2024: -$141,6622024

Highlighted filing

2017

Revenue$8,318,733
Expenses$8,018,610
Net Income$300,123
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 13, 2018
Return Version
2017v2.2
Gross Receipts
$8,318,733
Mission and Program Overview

Mission

To alleviate the critical shortage of affordable housing opportunities for low moderate income, handicapped and elderly persons. To accomplish this goal, the organization organizes partnerships that construct, acquire, rehabilitate and preserve affordable multi-family housing.

The Organization's mission is to alleviate the critical shortage of affordable housing opportunities for low/moderate income, handicapped and elderly persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,581,388$12,952,508▲ $371,120
Other Notes and Loans Receivable, Net$8,680,160$8,678,960▼ $1,200
Investments in Publicly Traded Securities$5,496,011$5,090,789▼ $405,222
Accounts Receivable$2,557,428$2,663,159▲ $105,731
Cash and Non-Interest-Bearing Accounts$1,174,555$1,517,562▲ $343,007
Intangible Assets$808,240$776,695▼ $31,545
Savings and Temporary Cash Investments$306,219$546,922▲ $240,703
Prepaid Expenses and Deferred Charges$76,458$71,098▼ $5,360
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$35,529,452$36,230,667▲ $701,215
Other Assets Total$3,848,993$3,932,974▲ $83,981
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,325,308$16,199,878▼ $125,430
Other Liabilities$3,083,806$3,577,027▲ $493,221
Accounts Payable and Accrued Expenses$153,705$107,940▼ $45,765
Deferred Revenue$3,995$5,958▲ $1,963
Total Liabilities$19,566,814$19,890,803▲ $323,989
Net Assets / Fund Balance
Unrestricted Net Assets$15,962,638$16,339,864▲ $377,226
Total Net Assets Fund Balance$15,962,638$16,339,864▲ $377,226
Total Liabilities and Net Assets / Fund Balance$35,529,452$36,230,667▲ $701,215

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,711,598$5,409,633$14,121,231
Land$3,469,855-$3,469,855
Leasehold Improvements$771,055$17,994$789,049
Other Assets Org$99,906--
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
William W HirschCEOFT$381,300$240,270$857,062
Vasilios SalamandrakisSenior VP & General CounselFT$265,000$384,297$444,296
Hilda JusufCFOFT$216,500$226,821$443,321
Jeffrey A E ZoldosVP of Asset ManagementFT$197,600$197,286$394,886
Jonathan B WebbPresidentFT$187,800$155,805$313,114

Board Members and Trustees

NameTitle
Drew MickleDirector
Eileen PadbergDirector
Kristin ByrnesDirector
Michael GoodmanDirector
Matthew KaufmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,000
Program Service Revenue
$7,763,403
Investment Income
$547,407
Other Revenue
$1,923
All Other Contributions
$6,000
Change in Net Assets
$300,123

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,318,733
Revenue Not Reported on Form 990
$77,103
Total Revenue per Audited Statements
$8,395,836
Total Revenue per Form 990
$8,318,733
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,955,975
Salaries, Compensation, and Employee Benefits$3,199,116
Grants and Similar Amounts Paid$863,519
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$2,158,357$294,322-$2,452,679
Interest$732,636--$732,636
Grants to Domestic Orgs$645,060--$645,060
Other Salaries and Wages$391,451$51,366-$442,817
Depreciation Depletion$422,887--$422,887
All Other Expenses$300,074$11,809-$311,883
Occupancy$248,369$21,501-$269,870
Insurance$239,413$21,294-$260,707
Grants to Domestic Individuals$218,459--$218,459
Other Employee Benefits$123,019$20,412-$143,431
Office Expenses$119,881$9,472-$129,353
Fees for Services Management$121,954--$121,954
Payroll Taxes$89,038$13,531-$102,569
Fees for Services Other$87,446$9,079-$96,525
Other Expenses$76,684$206-$76,890
Pension Plan Contributions$48,977$8,643-$57,620
Fees for Services Accounting$51,813$3,830-$55,643
Fees for Service Investment Mgmnt Fees$39,681$7,002-$46,683
Travel$33,436$214-$33,650
Advertising$5,436--$5,436
Conferences and Meetings$655--$655
Total Functional Expenses$7,545,929$472,681$0$8,018,610

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,018,610
Expenses per Audited Statements$8,017,850
Total Expenses per Audited Statements$8,017,850
Expenses Not Reported on Financial Statements$760
Other Expense Adjustments$760
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Project Access IncOrange, CA501c3General support$330,060
Community Engagement IncNewport Beach, CA501c3General support$165,000
Brakens Kitchen IncFountain Valley, CA501c3General support$30,000
Stars and Stripes ChildrensLaguna Niguel, CA501c3Program support$20,000
Boys & Girls Club of HuntingtFountain Valley, CA501c3Program support$15,000
Grand Central Art CenterSanta Ana, CA501c3General support$15,000
Ayuda Puerto RicoBronx, NY501c3General support$10,000
Empower YOLOWoodland, CA501c3General support$10,000
Habitat for HumanityWoodland Hills, CA501c3Program support$10,000
Tariq Khamisa FoundationSan Diego, CA501c3Program support$10,000
The HeartWayLaguna Beach, CA501c3General support$10,000
The Pegasus SchoolHuntington Beac, CA501c3General support$10,000
WISEPlaceSanta Ana, CA501c3General support$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued interest payable$2,242,044
Deferred compensation plan liability$667,737
Accrued pension contribution$549,705
Security deposit liability$117,541
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Leasing of apartments, collection of rents, maintenance and repair of property.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“A draft of the 990 is reviewed by the President of the Board and the CFO. Any questions are discussed with the preparer, then the 990 is finalized, signed, and filed timely with the IRS.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The Board reviews the written Conflict of Interest Policy annually and each member discloses any conflicts or potential conflicts of interest as defined in the Conflict of Interest Policy.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“A Compensation Review was performed by Grant Thornton, a leading professional services firm. The report provided a determination on whether base salary, annual bonus, and retirement benefits were reasonable in relation to a comparable market. The Compensation Committee, consisting of disinterested members of the board, reviewed the Wyatt report and the performance of the CEO and President, then made a recommendation before the board, which approved the resolution. Neither interested board members nor key employees took part in any deliberation of the board.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organizational documents, Form 990, audited financial statements, and written policies are available for inspection or copying at the organization's office during normal business hours. Copies will be provided to anyone who requests them.”

Filing and Contact Details

Filer

Filer Name
Affordable Housing Access Inc
EIN
31-1682049
Phone
9492533120
Address
3920 Birch Street, Newport Beach, CA 92660

Signing Officer

Name
William W Hirsch
Title
CEO
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William W Hirsch
Formed
1999
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
5
Employees
12

Preparer

Firm
Suarez Tax Services LLP
Address
1891 N Gaffey St Suite 231, San Pedro, CA 90731
Preparer
Brian Suarez
Phone
3108327887
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Under Section 501(c)(3) of the Internal Revenue Code, the Organization is exempt from the payment of taxes on income other than unrelated business income. Effective January 1, 2009, the Organization adopted the authoritative guidance relating to accounting for uncertainty in income taxes included in ASC Topic Income Taxes. These provisions provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition and derecognition of tax positions taken or expected to be taken in a tax return. The Organization performed an evaluation of uncertain tax positions for the year ended December 31, 2017, and determined that there were no matters that would require recognition in the financial statements or which may have any affect on its tax-exempt status. As of December 31, 2017, the statute of limitations for tax years 2014 through 2016 remains open with the U.S. federal jurisdiction or the various states and local jurisdictions in which the Organization files tax returns. It is the Organization's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of December 31, 2017, no provision for income taxes was made as they had no taxable unrelated business income.”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Diff in depreciation $760”

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IRS990/Form990PartVIISectionAGrp/TitleTxt8VP of Asset Management
IRS990/Form990PartVIISectionAGrp/TitleTxt9Senior VP & General Counsel
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0The Organization's mission is to alleviate the critical shortage of affordable housing opportunities for low/moderate income, handicapped and elderly persons. To accomplish this goal, the Organization organizes partnerships that construct, acquire, rehabilitate and preserve affordable multi-family housing.
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IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc2Repairs & Maintenance
IRS990/OtherExpensesGrp/Desc3Taxes
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IRS990/OtherExpensesGrp/ProgramServicesAmt1476228
IRS990/OtherExpensesGrp/ProgramServicesAmt2411094
IRS990/OtherExpensesGrp/ProgramServicesAmt376684
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt08678960
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013531
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IRS990/PayrollTaxesGrp/TotalAmt0102569
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08643
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt048977
IRS990/PensionPlanContributionsGrp/TotalAmt057620
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt076458
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt071098
IRS990/PrincipalOfficerNm0William W Hirsch
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc1General partner fees
IRS990/ProgramServiceRevenueGrp/Desc2Rental income
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14866328
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14866328
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22877575
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt06000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0429300
IRS990/PYInvestmentIncomeAmt0462987
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IRS990/PYOtherRevenueAmt02198
IRS990/PYProgramServiceRevenueAmt09413578
IRS990/PYRevenuesLessExpensesAmt01460811
IRS990/PYSalariesCompEmpBnftPaidAmt03249295
IRS990/PYTotalExpensesAmt08423952
IRS990/PYTotalRevenueAmt09884763
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IRS990/ReconcilationRevenueExpnssAmt0300123
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0546922
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt07539497
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt07959466
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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,230,667
Liabilities
$19,890,803
Net assets
$16,339,864
Revenue
$8,318,733
Expenses
$8,018,610
Net income
$300,123
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$111$63.2$47.9$17.5$17.6$0.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$80.6$51.3$29.3$12.2$11.7$0.58
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$56.7$28.6$28.1$8.91$10.9$1.94
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$43.6$20.8$22.8$12.9$9.13$3.73
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.0$20.1$18.9$11.1$8.41$2.72
2017Detailed filing. Detailed filing data is available for this year.$36.2$19.9$16.3$8.32$8.02$0.30