CARITAS AFFORDABLE HOUSING INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

JENNIFER RIVA

Phone

9497270568

Tax Period

2023-01-01 to 2023-12-31

CARITAS AFFORDABLE HOUSING INC, founded in 1998, is a mid-sized nonprofit in the Housing & Shelter sector that reported $14.7M in total revenue in fiscal year 2023. Expenses of $12.9M left a modest 13% surplus.

Mission

CARITAS AFFORDABLE HOUSING, INC. IS A NONPROFIT ORGANIZATION WHOSE GOAL IS TO PROVIDE AND MAINTAIN QUALITY, AFFORDABLE HOUSING THROUGH THE ACQUISTION OF MOBILE HOME PARKS. WITH THE INCREASING NUMBER OF HOUSEHOLDS ON FIXED OR LIMITED INCOMES AND WITH THE SCARCITY OF RELIABLE, LONG-TERM, REASONABLY PRICED HOUSING, CARITAS ENDEAVORS TO CREATE VIBRANT COMMUNITIES WHERE QUALITY OF LIFE, RESIDENT INVOLVEMENT, AND CARING ARE PRIORITIES.

Program Service Accomplishments

Program 1

Expenses: $12,649,917 Revenue: $14,381,181

EXEMPT PURPOSE ACHIEVEMENTS OF CARITAS AFFORDABLE HOUSING, INC. INCLUDE THE OWNERSHIP AND OPERATION OF NINE AFFORDABLE HOUSING PROJECTS LOCATED IN THE CALIFORNIA CITIES OF BREA, LANCASTER, ROHNERT...

EXEMPT PURPOSE ACHIEVEMENTS OF CARITAS AFFORDABLE HOUSING, INC. INCLUDE THE OWNERSHIP AND OPERATION OF NINE AFFORDABLE HOUSING PROJECTS LOCATED IN THE CALIFORNIA CITIES OF BREA, LANCASTER, ROHNERT PARK, VISTA, YUCCA VALLEY AND NORTH LAKEPORT, WHICH HAVE AN UNFULFILLED STATUTORY OBLIGATION TO PROVIDE AFFORDABLE HOUSING. THERE ARE A TOTAL OF 100 MOBILE HOME SPACES AVAILABLE FOR RENT IN THE CITY OF BREA, 852 SPACES AVAILABLE FOR RENT IN LANCASTER, 285 SPACES AVAILABLE FOR RENT IN ROHNERT PARK, 266 SPACES AVAILABLE FOR RENT IN VISTA, 285 SPACES AVAILABLE IN ROHNERT PARK, 164 SPACES AVAILABLE FOR RENT IN THE CITY OF YUCCA VALLEY AND 67 SPACES AVAILABLE FOR RENT IN THE CITY OF NORTH LAKEPORT. THE CORPORATION IS UNDER THE DIRECTION OF THE CARITAS CORPORATION, THE ASSISTANCE CORPORATION (AN EXEMPT ORGANIZATION).

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $28,031

Program Service Revenue $14,341,472

Investment Income $340,309

Other Revenue $39,709

TOTAL REVENUE $14,749,521

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,244,397

Fundraising Expenses $0

Program Expenses $12,649,917

Other Expenses $11,631,272

TOTAL EXPENSES $12,875,669

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,749,521	$14,043,516	+0.1%
Expenses	$12,875,669	$12,696,673	+0.0%
Net Income	$1,873,852	$1,346,843	+0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$706,204

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THERESE BEJOTTE	CHIEF OPERATING OFFICER	1.00	Officer	$0	$3,304	$254,074
JOHN WOOLLEY	CHIEF INVESTMENT OFFICER	1.00	Officer	$0	$0	$193,017
PENNY SERNA	CHIEF FINANCIAL OFFICER	1.00	Officer	$0	$2,337	$173,782
SAMANTHA MCCULLAGH	CHIEF MISSION OFFICER	1.00	Officer	$0	$0	$85,331
GABE CHAVEZ	VP OF DEVELOPMENT	1.00	Highest	$0	$2,128	$153,296
ROBERT R REDWITZ	CEO & CHAIRMAN OF BOARD	0.00	Officer Director	$0	$0	$0
CAROL MCDERMOTT	BOARD MEMBER	0.00	Director	$0	$0	$0
ROBERT THIERGARTNER	BOARD MEMBER	0.00	Director	$0	$0	$0
TOM REDWITZ	BOARD MEMBER	0.00	Director	$0	$0	$0
CHRISTINE DUNFEY	BOARD MEMBER	0.00	Director	$0	$0	$0
TIM CANNON	BOARD MEMBER	0.00	Director	$0	$0	$0
JOHN MARKEL	BOARD MEMBER	0.00	Director	$0	$0	$0
JENNIFER E RIVA	VP OF FINANCE	0.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$14,749,521	$12,875,669	$84,281,120	$1,873,852
2022	$14,043,516	$12,696,673	$83,657,945	$1,346,843
2021	$13,609,405	$12,260,343	$83,933,576	$1,349,062
2020	$13,512,809	$12,384,416	$83,448,357	$1,128,393
2019	$13,232,737	$12,007,909	$84,001,296	$1,224,828
2018	$12,949,362	$11,815,773	$83,448,574	$1,133,589