SAN FRANCISCO HOUSING DEVELOPMENT … - Form 990 Financial Data

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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

1988

Legal Domicile

Principal Officer

DAVID J SOBEL

Phone

4158221022

Tax Period

2022-07-01 to 2023-06-30

SAN FRANCISCO HOUSING DEVELOPMENT CORPORATION, founded in 1988, is a community nonprofit that reported $8.8M in total revenue in fiscal year 2022.

Mission

WE FOSTER FINANCIAL STABILITY THROUGH THE DEVELOPMENT OF AFFORDABLE HOUSING, THE FACILITATION OF ASSET BUILDING, AND REVITALIZATION OF SAN FRANCISCO'S UNDERSERVED NEIGHBORHOODS.

Program Service Accomplishments

Program 1

Expenses: $2,846,213 Revenue: $1,372,015

REAL ESTATE DEVELOPMENT:SFHDC'S REAL ESTATE DEVELOPMENT TEAM COMPLETED RENOVATIONS AND LEASE-UP OF 168 SICKLES AVE, A 12-UNIT PRESERVATION PROJECT; BEGAN RENOVATIONS ON 936 GEARY STREET, 375 14TH...

REAL ESTATE DEVELOPMENT:SFHDC'S REAL ESTATE DEVELOPMENT TEAM COMPLETED RENOVATIONS AND LEASE-UP OF 168 SICKLES AVE, A 12-UNIT PRESERVATION PROJECT; BEGAN RENOVATIONS ON 936 GEARY STREET, 375 14TH STREET, AND 528 NATOMA STREET, PRESERVING ANOTHER 51 AFFORDABLE UNITS; AND MADE PROGRESS ON PRE-DEVELOPMENT FOR THE SOON-TO-BE-CONSTRUCTED 160 FREELON STREET AND SHIPYARD BLOCK 56, TOTALING APPROXIMATELY 145 NEW UNITS.

Program 2

Expenses: $1,022,323 Revenue: $855,516

FINANCIAL EMPOWERMENT & HOUSING COUNSELING:SFHDC'S FINANCIAL EMPOWERMENT PROGRAM EDUCATED 1,465 LOW- AND MODERATE-INCOME INDIVIDUALS THROUGH FIRST-TIME HOMEBUYER WORKSHOPS; PROVIDED RENTAL COUNSELING TO OVER 200 CLIENTS; IMPROVED THE FINANCIAL LITERACY OF HUNDREDS OF ADDITIONAL CLIENTS; AND SUPPORTED 35 HOUSEHOLDS IN BUYING THEIR FIRST HOMES.

Program 3

Expenses: $1,160,302 Revenue: $287,896

RESIDENT SERVICES:IN THE AREA OF RESIDENT SERVICES, SFHDC PROVIDED MEANINGFUL, ON-SITE SUPPORT TO APPROXIMATELY 2,500 RESIDENTS ACROSS EIGHT SITES, INCLUDING TWO NEW PROPERTIES. IT ALSO HOSTED DOZENS OF COMMUNITY-BUILDING ACTIVITIES AND EVENTS, SERVING YOUTH, ADULTS, SENIORS, AND WHOLE FAMILIES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $6,302,204

Program Service Revenue $2,516,604

Investment Income $435

Other Revenue $-21,482

TOTAL REVENUE $8,797,761

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $3,597,619

Fundraising Expenses $264,561

Program Expenses $7,794,012

Other Expenses $5,838,007

TOTAL EXPENSES $9,445,626

Year-over-Year Comparison

	2022	2021	Change
Revenue	$8,797,761	$8,913,329	0.0%
Expenses	$9,445,626	$6,266,157	+0.5%
Net Income	$-647,865	$2,647,172	-1.2%

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

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

$356,534

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL Y WONG	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BEN GOLVIN	TREASURER	1.00	Officer Director	$0	$0	$0
NOREEN BEIRO	SECRETARY	1.00	Officer Director	$0	$0	$0
JENNIFER ESKILDSEN	DIRECTOR	1.00	Director	$0	$0	$0
LENA ROBINSON	CHAIR	1.00	Officer Director	$0	$0	$0
CHARLES TURNER	DIRECTOR	1.00	Director	$0	$0	$0
EDDIE WALKER	DIRECTOR	1.00	Director	$0	$0	$0
DORRIS VINCENT	DIRECTOR	1.00	Director	$0	$0	$0
ANTOINETTE MCGILL	DIRECTOR	1.00	Director	$0	$0	$0
DAVID J SOBEL	CEO	40.00	Officer	$190,962	$16,957	$207,919
NIMISH MEHTA	CFO	40.00	Officer	$148,615	$0	$148,615
TOM KOSTOSKY	INTERIM DIR. OF REAL ESTATE DEVELOPMENT	35.00	Highest	$145,269	$4,358	$149,627
PIA HARRIS	DIR. OF ECONOMIC DEVELOPMENT	35.00	Highest	$102,531	$40,500	$143,031
TAYLOR BOOKER	DIRECTOR OF RESIDENT SERVICES	35.00	Highest	$117,923	$0	$117,923
SARAH GRAHAM	RED PROJECT MANAGER	35.00	Highest	$114,692	$11,389	$126,081
REGINALD HARRISTON	RED PROJECT MANAGER	35.00	Highest	$110,000	$0	$110,000

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$8,797,761	$9,445,626	$43,550,099	$-647,865
2022	$8,913,329	$6,266,157	$36,899,216	$2,647,172
2021	$8,937,713	$4,377,306	$22,065,950	$4,560,407
2020	$5,115,180	$3,925,950	$14,342,509	$1,189,230
2019	$5,851,364	$4,063,290	$11,980,602	$1,788,074
2018	$3,716,669	$3,007,911	$7,550,859	$708,758

SAN FRANCISCO HOUSING DEVELOPMENT CORPORATION