CAR HOUSING AFFORDABILITY FUND

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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

2001

Legal Domicile

Principal Officer

DENISE G WELSH

Phone

2137398200

Tax Period

2023-01-01 to 2023-12-31

CAR HOUSING AFFORDABILITY FUND, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $420K in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $1.3M exceeded revenue, resulting in a 221% operating deficit.

Mission

THE CALIFORNIA ASSOCIATION OF REALTORS HOUSING AFFORDABILITY FUND PLAYS AN ACTIVE ROLE IN ADDRESSING THE ONGOING HOUSING AFFORDABILITY CRISIS FACING OUR STATE. THE FUND WILL RAISE AND DISTRIBUTE FUNDS AND PARTNER WITH OTHER GROUPS TO PROMOTE HOUSING AND HOMEOWNERSHIP.

Program Service Accomplishments

Program 1

Expenses: $1,225,000

THE C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $1,225,000 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES AND PROVIDE CLOSING COSTS ASSISTANCE TO QUALIFIED FIRST-TIME CALIFORNIA HOMEBUYERS.GRANTS TO ORGANIZATIONS=====================DURING 2023, C.A.R. HOUSING AFFORDABILITY FUND MADE GRANTS TOTALING $225,000 TO SUPPORT LOCAL ASSOCIATIONS' EFFORTS TO INCREASE AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES IN THEIR LOCAL COMMUNITIES.GRANTS TO INDIVIDUALS=====================DURING 2023, C.A.R.'S PATHWAY TO HOME CLOSING COST ASSISTANCE GRANT PROGRAM PROVIDED $1,000,000 TO HELP FIRST-TIME HOMEBUYERS WHO ARE MEMBERS OF AN "UNDERSERVED COMMUNITY" BRIDGE THE AFFORDABILITY GAP BY PROVIDING THEM WITH UP TO $10,000 IN CLOSING COST ASSISTANCE. EACH GRANT IS PROVIDED TO LOW-TO-MODERATE INCOME (120% AMI AND BELOW) FIRST-TIME HOMEBUYERS WHO UTILIZE THE SERVICES OF A CALIFORNIA REALTOR.

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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 $434,309

Program Service Revenue $0

Investment Income $-13,985

Other Revenue $0

TOTAL REVENUE $420,324

Expense Breakdown

Grants Paid $1,225,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,225,000

Other Expenses $124,763

TOTAL EXPENSES $1,349,763

Year-over-Year Comparison

	2023	2022	Change
Revenue	$420,324	$490,129	-0.1%
Expenses	$1,349,763	$1,305,283	+0.0%
Net Income	$-929,439	$-815,154	+0.1%

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

$301,625

Total Directors

$11,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENISE G WELSH	CHAIR	2.50	Officer Director	$0	$0	$5,900
BETH A FLURE	VICE CHAIR	2.50	Officer Director	$0	$0	$0
FRANK OTI	VICE CHAIR	2.50	Officer Director	$0	$0	$0
SHAUNA LOVE	ASSN. EXEC. (VOTING)	2.50	Officer Director	$0	$0	$0
CAROL M LUCKENBACH	MEMBER	2.50	Director	$0	$0	$0
CHUCK LINN	MEMBER	2.50	Director	$0	$0	$0
DERIK DAMI	MEMBER	2.50	Director	$0	$0	$0
JANINE NIELSEN	MEMBER	2.50	Director	$0	$0	$0
JUDITH MYERS	MEMBER	2.50	Director	$0	$0	$5,900
KEVIN BIRMINGHAM	MEMBER	2.50	Director	$0	$0	$0
LEHEL SZUCS	MEMBER	2.50	Director	$0	$0	$0
MICHAEL DELEON	MEMBER	2.50	Director	$0	$0	$0
NATALIE GARRICK	MEMBER	2.50	Director	$0	$0	$0
NILA ALVIDREZ	MEMBER	2.50	Director	$0	$0	$0
SHER HEARD	MEMBER	2.50	Director	$0	$0	$0
SUSAN MARSHALL	MEMBER	2.50	Director	$0	$0	$0
TAFFY MAURER	MEMBER	2.50	Director	$0	$0	$0
IQBAL BHOLAT	TREASURER	1.00	Officer	$0	$47,274	$295,725

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	$420,324	$1,349,763	$765,533	$-929,439
2022	$490,129	$1,305,283	$1,619,380	$-815,154
2021	$1,525,536	$763,310	$2,683,716	$762,226
2020	$407,389	$564,881	$1,907,049	$-157,492
2019	$964,111	$1,197,977	$1,979,038	$-233,866
2018	$849,840	$674,309	$2,072,659	$175,531
2018	$849,840	$674,309	$2,072,659	$175,531