Civic Intelligence

Affordable Housing Access Inc.

990 • Fiscal year 2019 • EIN 31-1682049

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 03, 2020

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

70th percentile

0.48x

Higher debt load relative to assets than 70% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

84th percentile

1.62x

Higher debt load relative to revenue than 84% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

84th percentile

29%

Higher net margin than 84% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

90th percentile

$712,300

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

72nd percentile

12%

Faster asset growth than 72% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

16%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$43,580,362

Up $4,599,161 (+12%) from 2018

Net Assets

Up

$22,756,746

Up $3,850,230 (+20%) from 2018

Liabilities

Up

$20,823,616

Up $748,931 (+3.7%) from 2018

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin84th percentile

Revenue

Up

$12,858,305

Up $1,737,107 (+16%) from 2018

Expenses

Up

$9,128,825

Up $723,459 (+8.6%) from 2018

Net Income

Up

$3,729,480

Up $1,013,648 (+37%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

2019

Assets$43,580,362
Liabilities$20,823,616
Net Assets$22,756,746
Open 2019 Filing

Operations Trend

Revenue Growth76th percentile

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

2019

Revenue$12,858,305
Expenses$9,128,825
Net Income$3,729,480
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 3, 2020
Return Version
2019v5.0
Gross Receipts
$12,858,305
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$12,628,710$12,205,926▼ $422,784
Other Notes and Loans Receivable, Net$8,991,960$9,239,860▲ $247,900
Cash and Non-Interest-Bearing Accounts$1,474,376$4,098,034▲ $2,623,658
Investments in Publicly Traded Securities$5,029,671$3,851,909▼ $1,177,762
Accounts Receivable$2,813,190$3,191,824▲ $378,634
Savings and Temporary Cash Investments$449,741$1,831,656▲ $1,381,915
Intangible Assets$745,150$713,605▼ $31,545
Prepaid Expenses and Deferred Charges$72,882$141,821▲ $68,939
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$38,981,201$43,580,362▲ $4,599,161
Other Assets Total$6,775,521$8,305,727▲ $1,530,206
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,068,750$15,931,668▼ $137,082
Other Liabilities$3,866,027$4,827,016▲ $960,989
Accounts Payable and Accrued Expenses$121,718$59,677▼ $62,041
Deferred Revenue$18,190$5,255▼ $12,935
Total Liabilities$20,074,685$20,823,616▲ $748,931
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$18,906,516$22,756,746▲ $3,850,230
Total Net Assets Fund Balance$18,906,516$22,756,746▲ $3,850,230
Total Liabilities and Net Assets / Fund Balance$38,981,201$43,580,362▲ $4,599,161

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,958,700$6,162,531$14,121,231
Land$3,469,855-$3,469,855
Leasehold Improvements$697,415$91,634$789,049
Equipment$79,956$14,224$94,180
Other Assets Org$108,753--
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Hilda JusufCFOFT$230,100$482,200$712,300
Jeffrey ZoldosVice PresidentFT$210,000$499,953$709,953
William W HirschCEOFT$405,300$257,624$662,924
Vasilios SalamandrakisPresidentFT$289,000$167,643$599,607
Shawn BoydVice PresidentFT$238,333$136,917$375,250
Jonathan B WebbPhilanthropy OfFT$199,600$200,782$257,418

Board Members and Trustees

NameTitle
Eileen PadbergDirector
James A MickleDirector
Kristin ByrnesDirector
Matthew KaufmanDirector
Michael GoodmanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$106,200
Program Service Revenue
$11,937,526
Investment Income
$743,117
Other Revenue
$71,462
All Other Contributions
$106,200
Change in Net Assets
$3,729,480

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,858,305
Total Revenue per Audited Statements
$12,858,305
Total Revenue per Form 990
$12,858,305
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,300,866
Salaries, Compensation, and Employee Benefits$4,095,702
Grants and Similar Amounts Paid$732,257
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$2,935,299$382,153-$3,317,452
Interest$720,982--$720,982
Grants to Domestic Orgs$565,184--$565,184
All Other Expenses$480,726$6,839-$487,565
Depreciation Depletion$454,232--$454,232
Other Salaries and Wages$343,079$50,519-$393,598
Insurance$269,850$25,441-$295,291
Occupancy$263,315$22,204-$285,519
Grants to Domestic Individuals$167,073--$167,073
Pension Plan Contributions$117,101$20,665-$137,766
Fees for Services Management$137,103--$137,103
Other Employee Benefits$115,204$17,557-$132,761
Payroll Taxes$101,229$12,896-$114,125
Office Expenses$100,605$8,981-$109,586
Other Expenses$101,404$6,507-$107,911
Fees for Services Other$71,208$5,242-$76,450
Fees for Services Accounting$54,183$6,062-$60,245
Travel$35,821$137-$35,958
Conferences and Meetings$10,295--$10,295
Advertising$6,655--$6,655
Total Functional Expenses$8,563,622$565,203$0$9,128,825

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,136,961
Expenses per Audited Statements$9,128,825
Total Expenses per Form 990$9,128,825
Expenses Not Reported on Form 990$8,136
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Project Access IncOrange, CA501c3General support$227,684
Community Engagement IncNewport Beach, CA501c3General support$175,500
Brackens Kitchen IncFountain Valley, CA501c3General support$46,000
Boys & Girls Club of HuntingtFountain Valley, CA501c3Program support$30,000
Kingdom Development IncRiverside, CA501c3General support$25,000
Stars and Stripes ChildrensLaguna Niguel, CA501c3Program support$20,000
WISEPlaceSanta Ana, CA501c3General support$14,000
Heritage FutureOrange, CA501c3Program support$10,000
The HeartWayLaguna Beach, CA501c3Program support$9,000
Empower YOLOWoodland, CA501c3General support$8,000
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$3,008,799
Accrued pension contribution$1,000,000
Deferred compensation plan liability$720,954
Security deposit liability$97,263
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 35% controlled entity
No
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
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 Grant Thornton report and the performance of the CEO, President, and other officers/key employees, 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
2020-11-03
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
11

Preparer

Firm
Suarez Tax Services LLP
Address
1891 N Gaffey St Suite 231, San Pedro, CA 90731
Preparer
Jeffrey P 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, 2019, 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, 2019, the statute of limitations for tax years 2016 through 2018 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, 2019, no provision for income taxes was made as they had no taxable unrelated business income.”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Diff in depreciation $8136”

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IRS990/PrincipalOfficerNm0William W Hirsch
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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,580,362
Liabilities
$20,823,616
Net assets
$22,756,746
Revenue
$12,858,305
Expenses
$9,128,825
Net income
$3,729,480
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
2019Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.2$19.9$16.3$8.32$8.02$0.30