NETWORK FOR OREGON AFFORDABLE HOUSING

EIN: 931037330 501(c)(3) Housing & Shelter

PORTLAND, OR

Total Revenue
$11,836,357
Total Expenses
$11,532,543
Total Assets
$311,962,873
Net Assets
$24,945,156
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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
OR
Principal Officer
WILLIAM A VAN VLIET
Phone
5032233211
Tax Period
2024-07-01 to 2025-06-30

NETWORK FOR OREGON AFFORDABLE HOUSING, founded in 1990, is a mid-sized nonprofit in the Housing & Shelter sector that reported $11.8M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Net assets of $24.9M represent 25 months of operating reserves.

Mission

NOAH IS A CERTIFIED NONPROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) THAT WAS ESTABLISHED TO INCREASE THE STATE'S SUPPLY OF AFFORDABLE HOUSING WHILE STRENGTHENING OREGON COMMUNITIES. (CONTINUED ON SCH O)NOAH STRENGTHENS COMMUNITIES THROUGH FLEXIBLE FINANCING, STRATEGIC PARTNERSHIPS, AND CREATIVE SOLUTIONS THAT BUILD AND PRESERVE AFFORDABLE HOUSING IN OREGON. NOAH OFFERS A VARIETY OF LOAN PRODUCTS TO SUPPORT THE ACQUISITION, RENOVATION AND CONSTRUCTION OF AFFORDABLE HOUSING PROPERTIES THAT PRIMARILY SERVE HOUSEHOLDS WHO EARN BELOW 60% OF THE AREA MEDIAN INCOME. THROUGH ITS SUBSIDIARY, MPOWER OREGON, NOAH FOCUSES ON STRATEGIES FOR SUSTAINABLE, AFFORDABLE HOUSING, SPECIFICALLY THROUGH COORDINATION AND FINANCING OF EFFICIENCY UPGRADES IN MULTI-FAMILY PROPERTIES. NOAH ALSO FACILITATES THE OREGON HOUSING PRESERVATION PROJECT, A STATEWIDE COLLABORATION OF PUBLIC AND PRIVATE STAKEHOLDERS DEDICATED TO PRESERVING OREGON'S AT-RISK, PUBLICLY SUBSIDIZED HOUSING.

Program Service Accomplishments

Program 1
Expenses: $9,953,196 Revenue: $7,611,696

PERMANENT LOAN PROGRAM:NOAH PROVIDES FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING IN THE STATE OF OREGON. DURING FISCAL YEAR 2024/2025, FIFTEEN (15)...

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PERMANENT LOAN PROGRAM:NOAH PROVIDES FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING IN THE STATE OF OREGON. DURING FISCAL YEAR 2024/2025, FIFTEEN (15) PERMANENT LOANS WERE CLOSED. THE TOTAL DOLLAR VALUE OF THESE LOANS WAS $37.5MM AND CREATED OR PRESERVED 634 UNITS OF HOUSING. IN ADDITION, ACTIVITY FOR THE YEAR INCLUDED EIGHT (8) COMMITMENTS TOTALING $19MM AND 282 UNITS AND FOUR (4) LOANS IN PROCESS WITH A VALUE OF $12.3MM.

Program 2
Expenses: $573,043 Revenue: $612,474

PRESERVATION LOAN PROGRAM:THESE LOANS TARGET THE ACQUISITION AND PRESERVATION OF (1) FEDERALLY RENT-SUBSIDIZED UNITS THAT ARE AT RISK OF CONVERSION TO MARKET RATES, (2) PROPERTIES FOR CONVERSION TO...

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PRESERVATION LOAN PROGRAM:THESE LOANS TARGET THE ACQUISITION AND PRESERVATION OF (1) FEDERALLY RENT-SUBSIDIZED UNITS THAT ARE AT RISK OF CONVERSION TO MARKET RATES, (2) PROPERTIES FOR CONVERSION TO AFFORDABLE, (3) MANUFACTURED HOME PARKS, AND (4) LAND IN DESIRABLE LOCATIONS TO PRESERVE FOR DEVELOPMENT OF AFFORDABLE HOUSING. DURING FISCAL YEAR 2024/2025, THERE WAS ONE (1) NEW LOAN MADE UNDER THIS LOAN PROGRAM WITH A VALUE OF $6.2MM. THERE WERE NO LOANS IN PROCESS AT YEAR END. PREDEVELOPMENT LOAN PROGRAM:THESE LOANS PROVIDE CAPITAL FOR BOTH LAND ACQUISITION AND PREDEVELOPMENT ACTIVITIES. DURING FISCAL YEAR 2024/2025, SIX (6) NEW LOANS WERE CLOSED UNDER THIS PROGRAM WITH A VALUE OF $4.4MM AND THERE WERE FOUR (4) LOANS IN PROCESS OF $2.5MM. OTHER/GAP LOANS: THESE LOANS PROVIDE NOAH FLEXIBLE CAPITAL FOR LOANS NOT APPROPRIATE FOR BANK-SOURCE FUNDING. ONE (1) OTHER/GAP LOANS WAS CLOSED DURING FISCAL YEAR 2024/2025 WITH A TOTAL VALUE OF $285K .

Program 3
Expenses: $-109 Revenue: $13,556

MPOWER OREGON:NOAH IS SOLE MEMBER OF MPOWER OREGON LLC. MPOWER OFFERS AN INTEGRATED SOLUTION FOR LOWERING ENERGY AND WATER EXPENSES AT EXISTING AFFORDABLE MULTIFAMILY PROPERTIES THROUGH LOANS AND...

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MPOWER OREGON:NOAH IS SOLE MEMBER OF MPOWER OREGON LLC. MPOWER OFFERS AN INTEGRATED SOLUTION FOR LOWERING ENERGY AND WATER EXPENSES AT EXISTING AFFORDABLE MULTIFAMILY PROPERTIES THROUGH LOANS AND GRANTS. MPOWER DELIVERS IMMEDIATE SAVINGS TO OWNERS AND OCCUPANTS THROUGH PROJECT MANAGEMENT OF BUILDING UPGRADES AND ONGOING TECHNICAL SUPPORT SERVICES.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,203,390
Program Service Revenue $8,237,726
Investment Income $395,241
Other Revenue $0
TOTAL REVENUE $11,836,357

Expense Breakdown

Grants Paid $2,835,023
Salaries & Benefits $2,640,038
Fundraising Expenses $13,271
Program Expenses $10,526,130
Other Expenses $6,057,482
TOTAL EXPENSES $11,532,543

Year-over-Year Comparison

2024 2023 Change
Revenue $11,836,357 $10,855,249 +0.1%
Expenses $11,532,543 $10,011,550 +0.2%
Net Income $303,814 $843,699 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
20
Volunteers
23

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
5
$347,276
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HOWARD WEINMAN CHAIR 0.50
Officer Director
$0 $0 $0
CHUCK SINKEY VICE CHAIR (7/1/24-6/9/2025) 0.50
Officer Director
$0 $0 $0
JOHN VAN LANDINGHAM SECRETARY 0.50
Officer Director
$0 $0 $0
MONIQUE BERTRAM TREASURER 0.50
Officer Director
$0 $0 $0
DEAN GISVOLD BOARD MEMBER 0.50
Director
$0 $0 $0
DUNCAN HWANG BOARD MEMBER 0.50
Director
$0 $0 $0
GINA LEON BOARD MEMBER 0.50
Director
$0 $0 $0
JAVIER MENA BOARD MEMBER 0.50
Director
$0 $0 $0
NELDA NEWTON BOARD MEMBER 0.50
Director
$0 $0 $0
BOB POWERS BOARD MEMBER 0.50
Director
$0 $0 $0
BRETT SHEEHAN BOARD MEMBER 0.50
Director
$0 $0 $0
BRIAN STEWART BOARD MEMBER 0.50
Director
$0 $0 $0
JEN WALTER BOARD MEMBER (6/9/2025-6/30/2025) 0.50
Director
$0 $0 $0
WILLIAM A VAN VLIET EXECUTIVE DIRECTOR 38.00
Officer
$308,719 $38,557 $347,276
ANN REMMERS DEPUTY DIRECTOR/DIRECTOR OF LENDING 40.00
Highest
$233,361 $31,155 $264,516
CYNTHIA A BARBER DIRECTOR OF FINANCE & ADMIN 40.00
Highest
$197,890 $18,097 $215,987
RACHEL BIDOU DIRECTOR OF ASSET MGMT AND POLICY 40.00
Highest
$180,190 $26,946 $207,136
ERIK PATTISON RELATIONSHIP MANAGER 40.00
Highest
$152,101 $24,361 $176,462
ANTHONY CARNIVALE RELATIONSHIP MANAGER 40.00
Highest
$128,363 $11,431 $139,794
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
2025 $11,836,357 $11,532,543 $311,962,873 $303,814
2024 $10,855,249 $10,011,550 $246,199,442 $843,699
2023 $8,070,132 $7,754,027 $219,824,620 $316,105
2022 $8,548,248 $6,417,081 $195,654,493 $2,131,167
2021 $9,183,012 $5,765,701 $164,035,295 $3,417,311
2020 $8,467,207 $5,759,862 $163,630,981 $2,707,345
2019 $6,304,938 $5,651,061 $146,282,227 $653,877
2018 $5,961,611 $5,282,194 $141,356,627 $679,417
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