THE AFFORDABILITY PROJECT

EIN: 850941543 501(c)(3) Housing & Shelter

SAN FRANCISCO, CA

Total Revenue
$3,751,186
Total Expenses
$294,879
Total Assets
$10,437,987
Net Assets
$8,383,671
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
CA
Principal Officer
JOSEPH TOBONI IV
Phone
4159544454
Tax Period
2024-01-01 to 2024-12-31

THE AFFORDABILITY PROJECT, founded in 2020, is a community nonprofit in the Housing & Shelter sector that reported $3.8M in total revenue in fiscal year 2024. Revenue surged 227% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.5M, a strong 92% operating margin.

Mission

TO PROVIDE AFFORDABLE HOUSING UNITS TO LOW AND MIDDLE INCOME INDIVIDUALS AND THEIR FAMILIES THAT ARE PUBLIC SERVICE PROVIDERS THAT SUPPORT CRITICAL LOCAL INFRASTRUCTURES IN THE SAN FRANCISCO BAY AREA AND SURROUNDING COUNTIES, INCLUDING BUT NOT LIMITED TO GOVERNMENT EMPLOYEES, TEACHERS, POLICE OFFICERS, FIREFIGHTERS, PUBLIC HEALTH WORKERS, NURSES AND OTHER FIRST RESPONDERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,736,048
Program Service Revenue $0
Investment Income $69,235
Other Revenue $-54,097
TOTAL REVENUE $3,751,186

Expense Breakdown

Grants Paid $0
Salaries & Benefits $269,271
Fundraising Expenses $154,542
Other Expenses $25,608
TOTAL EXPENSES $294,879

Year-over-Year Comparison

2024 2023 Change
Revenue $3,751,186 $1,146,192 +2.3%
Expenses $294,879 $263,309 +0.1%
Net Income $3,456,307 $882,883 +2.9%
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

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Liquidity & Cash Position

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

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Governance

Voting Members
10
Independent Members
9
Employees
1
Volunteers
3

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
4
$252,599
Total Directors
11
$252,599
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH TOBONI IV PRESIDENT AND DIRECTOR 1.00
Officer Director
$0 $0 $0
MARY DRISCOLL TOBONI SECRETARY AND DIRECTOR 1.00
Officer Director
$0 $0 $0
ADAM TARTAKOVSKY TREASURER AND DIRECTOR 1.00
Officer Director
$0 $0 $0
HILARY NEWSOM DIRECTOR 1.00
Director
$0 $0 $0
TIM SZARNICKI EXECUTIVE DIRECTOR 40.00
Officer Director
$252,599 $0 $252,599
JOE TOBONI III BOARD MEMBER 1.00
Director
$0 $0 $0
JORDAN LANGER BOARD MEMBER 1.00
Director
$0 $0 $0
MIKE HEFFERNAN IV BOARD MEMBER 1.00
Director
$0 $0 $0
JAMIE WEINSTEIN BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN ANDREINI BOARD MEMBER 1.00
Director
$0 $0 $0
KATY TANG DIRECTOR (TO 12/24) 1.00
Director
$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 $3,751,186 $294,879 $10,437,987 $3,456,307
2023 $1,146,192 $263,309 $7,007,102 $882,883
2022 $4,297,180 $272,944 $6,148,523 $4,024,236
2022 $4,297,180 $205,755 $6,215,712 $4,091,425
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