2025-11-17T09:29:14-08:00 2024-12-31 461594234 Boggeln & Company Inc 215 1/2 Main Street Huntington Beach CA 92648 990 2024-01-01 952457354 Metropolitan Area Advisory Committee on Anti-Poverty of San Diego County Inc METR 6194263595 1355 Third Avenue Chula Vista CA 91911 AUSTIN J FOYE CFO 2025-11-17 true true CHERI L BOGGELN P00854324 7143747434 2024 2025-03-06 01:10:19Z ARNULFO MANRIQUEZ 1355 Third Avenue Chula Vista CA 91911 85429734 false X www.maacproject.org X 1965 CA WELFAREMAXIMIZING SELF-SUFFICIENCY WITH FAMILIES AND INDIVIDUALS THROUGH HIGH-QUALITY PROGRAMS AND ADVOCACY IN OUR COMMUNITIES. 14 14 592 937 0 45260809 50379134 16186979 21024681 1090998 10576155 6050193 219758 68588979 82199728 91000 90000 0 29625605 32791418 8539 17553 441722 33444432 33584789 63169576 66483760 5419403 15715968 85670248 177560863 43130669 132512619 42539579 45048244 X WELFAREMAXIMIZING SELF-SUFFICIENCY WITH FAMILIES AND INDIVIDUALS THROUGH HIGH-QUALITY PROGRAMS AND ADVOCACY IN OUR COMMUNITIES. false false 36440113 MAAC Child Development Program (CDP) includes Early Head Start (EHS), Head Start (HS) and the California State Preschool Program (CSPP). These prorgrams engage families, staff and the community to improve the lives of low-income children by offering comprehensive child development services that are family-focused such as early childhood education, health and well-being, nutrition and social services to eligible children (birth to five years of age) and their families throughout north San Diego County. Offering far beyond a traditional preschool model, MAAC CDP delivers a comprehensive program designed to meet the needs of eligible families. Over 1,160 eligible children and their families in San Diego's North County are served by these programs. CDP ensures children ages 0-3 (EHS), and 3-5 (HS & CSPP) and their families are provided with services to promote optimum physical, cognitive, social, and emotional growth. MAAC CDP continues focusing on targeted School Readiness Goals for all children and collaborating with families on their individual goals and supporting these efforts through the Parent, Family, Community Engagement Framework which includes working in collaboration with our many community partners to provide enhanced services to support the growing needs of our families. In addition, MAAC CDP goals are accomplished by engaging parents in program governance, administration, and supporting the overall growth of children, families and staff through the development of advocacy and leadership skills, skill building, and career pathway opportunities. The ultimate goal is to develop a greater degree of self-sufficiency among families, foster a positive impact in their lives, and promote School Readiness for all children. 8040021 11409031 GENERAL: Housing & Real Estate Development (RED) - MAAC manages 876 units across our six properties and 1 partner property (Valencia Pointe in southeast San Diego). Our current portfolio includes the following locations Hillside Views Oak Park, Mercado Barrio Logan, San Martin de Porres Spring Valley, Laurel Tree Carlsbad, Seniors on Broadway Chula Vista, and Villa Lakeshore -- Lakeside. Our 2024 priorities included closing and breaking ground at our Laurel Tree Apartments in Carlsbad and securing funding to rehabilitate existing eligible assets in our portfolio (Seniors on Broadway in Chula Vista) and securing funding for (and control of) sites to construct new multi-family affordable housing communities within San Diego County. CLOSINGS: In 2024, we secured funding for the rehabilitation of Laurel Tree Apartments and Seniors on Broadway. MAAC was awarded an allocation of low-income housing tax credits and tax-exempt bonds for each of those properties. Laurel Tree closed in June and began construction in July 2024 with estimated completion in October 2025. Seniors on Broadway in Chula Vista closed financing in September 2025 and is now under way for a major rehab. Conversion of units to comply with Fair Housing and ADA is the primary scope of work along with various energy savings upgrades and solar PV. San Marin de Pores converted its construction financing to its permanent loan in October 2025 which included the final payout of developer fee as well as increasing its permanent loan to pay off some deferred fee. CIP: In October, construction rehab commenced Seniors on Broadway while the construction rehab on Laurel Tree was ongoing. FUNDING: MAAC submitted an application for CDBG for Mercado in 2025 with an award of $15,275,000 in March. RED applied for tax credits and tax-exempt bonds in September for Mercado as well. Award announcements are scheduled for November. MAAC also submitted an application to California HCD for AHSC funds for Ascencia in April 2025. Award announcements are scheduled for end of October.PIPELINE: As of December 31, 2023, MAAC has 916 units of affordable housing in pre-development: Ascencia (Escondido), Azuriik (National City), The Ivy (Escondido), and Sendero (San Diego). MAAC is also developing rehab projects for Seniors on Broadway and Mercado Apartments. MAAC is continuing to look to acquire new parcels to construct new multi-family affordable housing communities. 3849055 533057 The Healthy Homes Division provides weatherization services to low-income families in San Diego County since 1978. In 2024, MAAC weatherized a total of 941 households, helping homes save about 18% on heat and 7% on electricity annually. Health & Safety Measures installed were as follows: carbon monoxide alarms, heating source repairs/replacements, water heater repairs/replacements, cooking appliance repair/replacement, caulking, weather-stripping, door replacements, attic insulation and low flow shower heads. The Energy department assisted 2,133 households with their home energy assistance costs and their SDG&E shut-off notices. The goal of this program is to assist households increase the energy efficiency in their homes thereby reducing their energy cost while safeguarding their health and safety by providing assistance to struggling homeowners and renters to catch up with their increasingly mounting utility costs. 3842441 4607713 The Health Services Division operates Casa De Milagros a female drug and alcohol recovery home. This past year 80 women were admitted into the program. Our men's recovery home is Nosotros. Nosotros had 79 men admitted into the program. One hundred percent of the residents are housed upon their discharge. Families are being reunited and lives are being changed through these two recovery homes. MAAC Project's Driving under the Influence Program (DUIP) had 1,034 participants in the year 2024. MAAC successfully assisted 1,118 participants regain their driving privileges. Our goal is to help make our roadways safe for all. 3613704 90000 3776510 The MAAC Community Charter School is a high school of choice authorized by the Sweetwater Union High School District. MCCS is located in Chula Vista, CA and is one of only two charter high schools in the area that target at-risk students between the ages of 14-24, who have struggled to succeed in large, traditional public schools. At MCCS, students have an extended opportunity to earn their high school diploma in a small learning community and supportive environment. MCCS is an Alternative School under the Dashboard Alternative School Status (DASS) program (previously ASAM), and serves aproximately 354 students with 195 averaged enrollment in grades 9-13. Multiple Career Pathway tracks provide students with core education and skill sets for career readiness. MCCS offers an academic curriculum that qualifies students for enrollment in college, university, and entrance into the military. A variety of learning styles are supported through a choice of programs including a classroom (seat-based) program, Independent Studies program, and YouthBuild Program (hybrid). The school culture at MCCS promotes individual leadership, community responsibility, and self-sufficiency. Demographics at MCCS include approximately 66% English Language Learners, and 58% of students qualify for free or reduced price lunch, 3% students with special needs, 8% homeless youth, and 0% foster youth. MCCS is accredited by the Western Association of Schools and Colleges and graduated a total of 82 students in the 2024-25 school year. Total revenue from all programs in January - December 2024 was $4,250,130M and expenses $4,103,915M. 2729856 698370 The Economic Development Division continued to promote economic mobility and self-sufficiency through its core program areas: Workforce Development, Family Asset Building, Income Supports, and Advocacy. In 2024, MAACs workforce programsUnidos in Finance and Next Level Youth and Parentprovided tuition and program support totaling $520,000 to 248 individuals, helping low-income adults prepare for high-growth, high-wage careers. Through the VITA program, over $2.1 million in tax refunds were returned to 2,282 households, strengthening financial stability for working families. Additionally, 256 individuals participated in financial empowerment workshops and coaching through MAACs Financial Empowerment Network. The Striving Towards Economic Prosperity (STEP) program provided employment placement assistance, access to public benefits, income tax assistance, and financial education to over 3,225 affordable housing tenants and community members. To support basic needs, MAAC provided $1.2 million in emergency assistance to 132 households in Vista and $1.7 million in utility bill payment assistance to 2,133 households, helping families remain housed and maintain essential services. Food security efforts reached 17,802 families, with $1.1 million worth of food distributed through community food bank events. As part of its sustainability and advocacy work, the Electric Vehicle Access Program secured $552,000 in incentives and rebates, enabling low-income consumers to purchase battery electric and plug-in hybrid vehicles. 10186001 90000 9082593 58515190 true true false false false false false false false false true false false true true true false true false false false false false true true false false false true true false false false false false false false false true false false false true true true false false false true 241 0 true 592 true false false false false true true false false 0 false false false false false false false X 14 14 false false false false false false false true true false false true true true true true true true true true true CA X X AUSTIN FOYE 6194263595 1355 Third Avenue Chula Vista CA 91911 ARNULFO MANRIQUEZ CEO 40.00 0.50 X X 376900 0 22982 AUSTIN J FOYE CFO 40.00 0.50 X X 213188 0 19913 ADOLFO VENTURA 40.00 0.00 218113 0 0 CHRISTOPHER M RAMIREZ 40.00 0.00 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 708990 708990 16602440 4371120 12231320 3790590 3605780 184810 2096910 1403860 693050 6098760 4071340 2027420 15845590 DEPOSIT RECEIVABLE DEPOSITS AND OTHER ASSETS 7980 DUE FROM RELATED PARTIES 29638251 INVESTMENT IN JOINT VENTURES & OTHER ENT 105344107 LONG TERM RECEIVABLE 62770 MATERIALS INVENTORY OPERATING LEASE-RIGHT OF USE ASSET 3589050 OTHER 314900 REIMBURSEABLE POST CLOSING COSTS RESTRICTED CASH 138957058 DEVELOPER FEE PAYABLE 38390 DUE TO RELATED PARTIES 10974430 NONRECOURSE DEBT FROM K-1 3763484 OPERATING LEASE 5838977 QNR DEBT FROM K-1 43286 RECOURSE DEBT FROM K-1 79699543 TENANT SECURITY DEPOSITS 122802 100480912 X Part X : FIN48 Footnote Pt X, Line 2: MAAC HAS ADOPTED THE ACCOUNTING TOPIC GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA FOR INCOME TAXES, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN THE CONSOLIDATED FINANCIAL STATEMENTS. MAAC IS REQUIRED TO EVALUATE THE INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN TO DETERMINE WHETHER POSTIONS ARE "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAX AUTHORITY. MANAGEMENT HAS DETERMINED THAT THE APPLICATION OF THE ACCOUNTING TOPIC FOR INCOME TAXES DOES NOT IMPACT ITS OPERATIONS. NO PROVISION FOR INCOME TAXES HAS BEEN MADE FOR THE CONSOLIDATED PARTNERSHIPS OR LIMITED LIABILITY COMPANIES (LLC) AS ANY INCOME OR LOSS IS INCLUDED IN THE TAX RETURNS OF THE PARTNERS OR MEMBERS. THE FEDERAL TAX STATUS AS A PASS-THROUGH ENTITY IS BASED ON ITS LEGAL STATUS AS A PARTNERSHIP OR LLC. THE PARTNERSHIPS AND LLC'S ARE REQUIRED TO FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE PARTNERSHIPS AND LLC'S HAVE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. WITH FEW EXCEPTIONS, THE PARTNERSHIPS AND LLC'S ARE NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2019. THE PARTNERSHIPS AND LLC'S ARE REQUIRED TO PAY AN $800 FEE TO THE CALIFORNIA FRANCHISE TAX BOARD. NO EXAMINATIONS ARE CURRENTLY PENDING. X false Goodrow Consulting LLC 2967 Elm Street San Diego CA 92102 Grant Writing false 332500 11768 320732 Donna O'Brien 9851 Saskatchewan ave San Diego CA 92129 Grant Writing false 3096448 5785 3090663 3428948 17553 3411395 SOIREE 445978 445978 17630 37941 110612 445978 445978 17630 37941 110612 166183 -166183 true 0 0 CASH SCHOLARSHIPS FOR COLLEGE 63 90000 Grantmaker's Description of How Grants are Used Pt I Line 2: THE ORGANIZATION VERIFIES THAT THE ELIGIBLE STUDENT MEETS ALL OF THE REQUIRED CRITERIA BEFORE ISSUANCE OF PAYMENT, OTHERWISE THEY WILL BE DISQUALIFIED. PROOF OF ENROLLMENT/ACCEPTANCE IN A COLLEGE OR UNIVERSITY IS REQUIRED BEFORE THE CHECK IS ISSUED. X false false false false false false false false false ADOLFO VENTURA 218113 218113 ARNULFO MANRIQUEZ CEO 376900 22982 399882 AUSTIN J FOYE CFO 213188 19913 233101 CHRISTOPHER M RAMIREZ 170498 7726 178224 NIKKI R ALCARAZ 153805 7693 161498 TAYLOR A MAURIELLO 166897 166897 X Education Supplies 1 46635 FMV X CONSULTANTS 26 2989263 FMV X SPACE 1 124922 FMV X JANITORIAL 5 38798 FMV X OTHER 1 70597 false true false Form 990, Part VI, Section B, Line 11b THE ORGANIZATION'S FORM 990 IS FIRST REVIEWED BY THE CFO FOLLOWEDBY THE APPROVAL OF THE PRESIDENT/CEO. THE RETURN IS ALSO APPROVED BY THE MAACBOD BEFORE SUBMITTAL TO THE TAXING AUTHORITIES. Form 990, Part VI, Section B, Line 12c BOARD MEMBERS, SENIOR MANAGEMENT AND MANAGERS INVOLVED IN ANY ASPECT OF PROCUREMENT OF SERVICES AND OR MATERIALS, AND FISCAL STAFF SHALL ANNUALLY SIGN A STATEMENT, WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND UNDERSTANDS THAT THE MAAC PROJECT IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES, AND HAS AGREED TO COMPLY WITH THE POLICY. EACH MEMBER OF THE BOARD OF DIRECTORS SHALL REVIEW THIS POLICY ANNUALLY. ANY CHANGES TO THE POLICY SHALL BE COMMUNICATED IMMEDIATELY TO ALL RESPONSIBLE PERSONS. MONITORING WILL BE CONDUCTED ANNUALLY BY THE AUDIT COMMITTEE AND COMPLIANCE RECORD WILL BE MAINTAINED BY THE DIRECTORS OF COMPLIANCE. Form 990, Part VI, Section B, Line 15a HEAD START REQUIRES PERIODIC WAGE AND FRINGE BENEFITS COMPARABILITY SURVEYS. THIS ENABLES AN ANALYSIS OF AN EMPLOYEE COMPENSATION SYSTEM IN COMPARISON TO SIMILAR ORGANIZATIONS THAT OFFER SIMILAR SERVICES AND DEMOGRAPHICS. IN ORDER TO ESTABLISH AND MAINTAIN HIGH QUALITY PROGRAM OPERATIONS AND SERVICES, HEAD START AND EARLY HEAD START PROGRAMS MUST ATTRACT AND RETAIN QUALIFIED PERSONNEL. AN IMPORTANT COMPONENT OF ANY PROGRAM'S ABILITY TO MAINTAIN A SKILLED AND MOTIVATED WORK FORCE IS EMPLOYEE COMPENSATION. AS SUCH, THE CEO AND OTHER KEY POSITIONS IN THE ORGANIZATION, ARE CONTAINED IN THE PERIODIC SURVEY REQUESTS FOR SALARY/BENEFIT INFORMATION AS REQUIRED BY HEAD START AND SALARIES ARE REVIEWED AS THE SURVEY RESPONSES ARE COMPILED. Form 990, Part VI, Section B, Line 15b SEE EXPLANATION FOR Pt VI, Line 15a, ABOVE. Form 990, Part VI, Section C, Line 19 THE PUBLIC INSPECTION COPY OF THE ORGANIZATION'S FORM 990 FROM THE PREVIOUS THREE YEARS WILL BE AVAILABLE (FOR INSPECTION OR COPYING) AT THE ORGANIZATION'S MAIN OFFICE DURING NORMAL BUSINESS HOURS. COPIES OF THE FILED RETURNS ARE ALSO AVAILABLE FOR REVIEW AT GUIDESTAR.COM. WHEN RESPONDING TO A PUBLIC INSPECTION REQUEST FOR ANY ORGANIZATIONAL DOCUMENT OR FORM 990 BY ANYONE, THE ORGANIZATION SHALL FULFILL SUCH REQUEST IN A TIMELY FASHION WITHOUT INQUIRING AS TO THE REASON FOR THE REQUEST. Form 990, Part IX, Line 24e AMORTIZATION: Column (A) - Total = $149852; Column (B) - Program Services = $144349; Column (C) - Management & General = $5287; Column (D) - Fundraising = $216 Form 990, Part IX, Line 24e AUTO EXPENSE: Column (A) - Total = $38409; Column (B) - Program Services = $29287; Column (C) - Management & General = $8743; Column (D) - Fundraising = $379 Form 990, Part IX, Line 24e BANK CHARGES: Column (A) - Total = $85921; Column (B) - Program Services = $65514; Column (C) - Management & General = $19559; Column (D) - Fundraising = $848 Form 990, Part IX, Line 24e COMPUTER SOFTWARE: Column (A) - Total = $568059; Column (B) - Program Services = $433140; Column (C) - Management & General = $129310; Column (D) - Fundraising = $5609 Form 990, Part IX, Line 24e CREDIT CARD FEES: Column (A) - Total = $21455; Column (B) - Program Services = $16359; Column (C) - Management & General = $4884; Column (D) - Fundraising = $212 Form 990, Part IX, Line 24e DUES & SUBSCRIPTIONS: Column (A) - Total = $90120; Column (B) - Program Services = $68716; Column (C) - Management & General = $20514; Column (D) - Fundraising = $890 Form 990, Part IX, Line 24e EDUCATION/SEMINARS: Column (A) - Total = $653271; Column (B) - Program Services = $498113; Column (C) - Management & General = $148707; Column (D) - Fundraising = $6451 Form 990, Part IX, Line 24e EQUIPMENT RENTAL: Column (A) - Total = $105260; Column (B) - Program Services = $80260; Column (C) - Management & General = $23961; Column (D) - Fundraising = $1039 Form 990, Part IX, Line 24e EQUIPMENT: Column (A) - Total = $137220; Column (B) - Program Services = $104629; Column (C) - Management & General = $31236; Column (D) - Fundraising = $1355 Form 990, Part IX, Line 24e FUNDRAISING: Column (A) - Total = $32610; Column (B) - Program Services = $24865; Column (C) - Management & General = $7423; Column (D) - Fundraising = $322 Form 990, Part IX, Line 24e K-1 RENTAL EXPENSES: Column (A) - Total = $824122; Column (B) - Program Services = $824122; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e MARKETING/ADVERTISING: Column (A) - Total = $518479; Column (B) - Program Services = $395335; Column (C) - Management & General = $118024; Column (D) - Fundraising = $5120 Form 990, Part IX, Line 24e MEDICAL EXAMS - STAFF: Column (A) - Total = $50010; Column (B) - Program Services = $38132; Column (C) - Management & General = $11384; Column (D) - Fundraising = $494 Form 990, Part IX, Line 24e MISCELLANEOUS: Column (A) - Total = $622247; Column (B) - Program Services = $474458; Column (C) - Management & General = $141645; Column (D) - Fundraising = $6144 Form 990, Part IX, Line 24e MONITORING FEES: Column (A) - Total = $83604; Column (B) - Program Services = $63747; Column (C) - Management & General = $19031; Column (D) - Fundraising = $826 Form 990, Part IX, Line 24e PAYROLL PROCESSING FEE: Column (A) - Total = $94540; Column (B) - Program Services = $86427; Column (C) - Management & General = $7618; Column (D) - Fundraising = $495 Form 990, Part IX, Line 24e PROPERTY TAXES: Column (A) - Total = $80646; Column (B) - Program Services = $77308; Column (C) - Management & General = $3132; Column (D) - Fundraising = $206 Form 990, Part IX, Line 24e PROVISION FOR CREDIT LOSS: Column (A) - Total = $470969; Column (B) - Program Services = $0; Column (C) - Management & General = $470969; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e REPAIR & MAINT: Column (A) - Total = $1793836; Column (B) - Program Services = $1742632; Column (C) - Management & General = $48250; Column (D) - Fundraising = $2954 Form 990, Part IX, Line 24e TAXES & FILING FEES : Column (A) - Total = $82075; Column (B) - Program Services = $62582; Column (C) - Management & General = $18683; Column (D) - Fundraising = $810 Form 990, Part IX, Line 24e TELEPHONE: Column (A) - Total = $628944; Column (B) - Program Services = $562398; Column (C) - Management & General = $64669; Column (D) - Fundraising = $1877 Form 990, Part IX, Line 24e UTILITIES: Column (A) - Total = $878258; Column (B) - Program Services = $860442; Column (C) - Management & General = $15615; Column (D) - Fundraising = $2201 Form 990, Part XI, Line 9 ADD: INVESTMENT IN LPS ON A TAX BASIS = $4365299 Form 990, Part XI, Line 9 LESS: REMOVAL OF INVESTMENT IN LPS ON A GAAP BASIS = -$17572602 Form 990, Page 2, Part III, Line 4a (continued) TO PROMOTE OPTIMUM PHYSICAL, COGNITIVE, SOCIAL, AND EMOTIONAL GROWTH. MAAC CDP CONTINUES FOCUSING ON TARGETED SCHOOL READINESS GOALS FOR ALL CHILDREN AND COLLABORATING WITH FAMILIES ON THEIR INDIVIDUAL GOALS AND SUPPORTING THESE EFFORTS THROUGH THE PARENT, FAMILY, COMMUNITY ENGAGEMENT FRAMEWORK WHICH INCLUDES WORKING IN COLLABORATION WITH OUR MANY COMMUNITY PARTNERS TO PROVIDE ENHANCED SERVICES TO SUPPORT THE GROWING NEEDS OF OUR FAMILIES. IN ADDITION, MAAC CDP GOALS ARE ACCOMPLISHED BY ENGAGING PARENTS IN PROGRAM GOVERNANCE, ADMINISTRATION, AND SUPPORTING THE OVERALL GROWTH OF CHILDREN, FAMILIES AND STAFF THROUGH THE DEVELOPMENT OF ADVOCACY AND LEADERSHIP SKILLS, SKILL BUILDING, AND CAREER PATHWAY OPPORTUNITIES. THE ULTIMATE GOAL IS TO DEVELOP A GREATER DEGREE OF SELF-SUFFICIENCY AMONG FAMILIES, FOSTER A POSITIVE IMPACT IN THEIR LIVES, AND PROMOTE SCHOOL READINESS FOR ALL CHILDREN. Form 990, Page 2, Part III, Line 4b (continued) CLOSINGS: IN 2023, WE SECURED FUNDING FOR THE NEW CONSTRUCTION OF 100 LARGEFAMILY APARTMENTS AT CREST ON IMPERIAL IN SAN DIEGO, AND TO REHABILITATE SAN MARTIN DE PORRES AND LAUREL TREE APARTMENTS; MAAC WAS AWARDED AN ALLOCATION OF LOW-INCOME HOUSING TAX CREDITS AND TAX-EXEMPT BONDS FOR EACH OF THOSE PROPERTIES. CREST ON IMPERIAL DID NOT CLOSE DUE TO RISING INTEREST RATES, COSTS (CONSTRUCTION, INSURANCE AND FINANCING), AND AN UNFORSEEN AND INSURMOUNTABLE FUNDING GAP THAT OCCURRED IN THE DAYS PRECEEDING CLOSING. SAN MARTIN DE PORRES CLOSED IN NOVEMBER AND EXPECTS TO BEGIN CONSTRUCTION IN JANUARY 2024 AND COMPLETE IN NOVEMBER 2024. LAUREL TREE APARTMENTS IS EXPECTED TO CLOSE BY MID JUNE, 2024 AND BEGIN CONSTRUCTION IN JULY 2024 AND COMPLETE IN OCTOBER 2024. CIP: IN Q4 2022 CONSTRUCTION COMMENCED ON VENTANA AL SUR (101 UNITS, SENIOR HOUSING INCLUDING 25 PERMANENT SUPPORTIVE HOUSING FOR FORMERLY HOMELESS) AND WAS 57% COMPLETE AS OF 12/31/23 WITH COMPLETION PROJECTED IN SEPTEMBER 2024. FUNDING: MAAC SUBMITTED AN APPLICATION FOR BRIDGE TO HOME FUNDS FOR CREST ON IMPERIAL IN DECEMBER 2023 WITH NOTICE OF AWARD ANTICIPATED IN Q1 2024. WE PLAN TO SUBMIT AN APPLICATION FOR TAX CREDITS AND TAX-EXEMPT BONDS IN Q1 2023 FOR SENIORS ON BROADWAY. PIPELINE: AS OF DECEMBER 31, 2023 MAAC HAS 916 UNITS OF AFFORDABLE HOUSING IN PREDEVELOPMENT: ASCENSIA (ESCONDIDO), AZURIIK (NATIONAL CITY), THE IVY (ESCONDIDO) AND SENDERO (SAN DIEGO). MAAC IS ALSO DEVELOPING REHAB PROJECTS FOR SENIORS ON BROADWAY AND MERCADO APARTMENTS. MAAC IS ALSO LOOKING TO ACQUIRE NEW PARCELS TO CONSTRUCT NEW MULTI-FAMILY AFFORDABLE HOUSING COMMUNITIES. MERCADO MGP 2019 LLC 1355 THIRD AVE CHULA VISTA CA 91911 844136047 LOW INCOME HOUSING CA 6975 MAAC MAAC IVY LLC 1355 THIRD AVE CHULA VISTA CA 91911 844878705 LOW INCOME HOUSING CA 2680996 MAAC MAAC NATIONAL CITY LLC 1355 THIRD AVE CHULA VISTA CA 91911 271415417 LOW INCOME HOUSING CA 5448037 MAAC MAAC CREST LLC 1355 THIRD AVE CHULA VISTA CA 91911 844067952 LOW INCOME HOUSING CA -87227 MAAC MAAC VALENCIA POINTE MGP LLC 1355 THIRD AVE CHULA VISTA CA 91911 852252011 LOW INCOME HOUSING CA 102 16606 MAAC MAAC SENDERO MGP LLC 1355 THIRD AVE CHULA VISTA CA 91911 862924284 LOW INCOME HOUSING CA 1937531 MAAC MAAC VENTANA AL SUR MGP LLC 1355 THIRD AVE CHULA VISTA CA 91911 854349381 LOW INCOME HOUSING CA 3 3392407 MAAC MAAC MERCADO APARTMENTS LLC 1355 THIRD AVE CHULA VISTA CA 91911 471353908 LOW INCOME HOUSING CA 2200813 7007041 MAAC MAAC ASCENCIA MGP LLC 1355 THIRD AVE CHULA VISTA CA 91911 863444853 LOW INCOME HOUSING CA 21659 MAAC MAAC HEBER DEL SOL FAMILY APTS MGP LLC 1355 THIRD AVE CHULA VISTA CA 91911 844856756 LOW INCOME HOUSING CA -10699 MAAC MAAC CHARTER SCHOOL FACILITIES LLC 1355 THIRD AVE CHULA VISTA CA 91911 844242715 EDUCATION CA 375487 204781 MAAC MAAC HOUSING CORPORATION 1355 3RD AVE CHULA VISTA CA 91911 330913559 LOW INCOME HOUSING CA 501(C)3 12A NA true MAAC COMMUNITY CHARTER SCHOOL 1355 3RD AVE CHULA VISTA CA 91911 851715340 CHARTER HIGH SCHOOL CA 501(C)3 2 NA true MERCADO 2019 LP 1355 3RD AVE CHULA VISTA CA 91911 844107654 LOW INCOME HOUSING CA MERCADO MGP 2019 LLC related 6975 false true 0.01000 CARLSBAD LAUREL TREE APARTMENTS 1355 3RD AVE CHULA VISTA CA 91911 330812530 LOW INCOME HOUSING CA MAAC related 570 3978034 true true 0.00010 VILLA LAKESHORE MGP 2020 LLC 1355 3RD AVE CHULA VISTA CA 91911 844227135 LOW INCOME HOUSING CA MAAC related 15002 2858907 false true 0.79000 MAAC IVY LP 1355 3RD AVE CHULA VISTA CA 91911 844788751 LOW INCOME HOUSING CA MAAC IVY LLC related 2680996 false true 0.00007 MAAC NATIONAL CITY LP 1355 3RD AVE CHULA VISTA CA 91911 844788984 LOW INCOME HOUSING CA MAAC NATIONAL CITY L related 5448037 false true 0.00007 SENIORS ON BROADWAY LP 1355 3RD AVE CHULA VISTA CA 91911 830411220 LOW INCOME HOUSING CA MAAC related -188157 -15283 true true 0.00010 MAAC BAYVIEW HEIGHTS LLC 1355 3RD AVE CHULA VISTA CA 91911 825478195 LOW INCOME HOUSING CA MAAC related -1378554 35070802 false true 0.90000 MAAC LAUREL TREE MGP LLC 1355 THIRD AVENUE CHULA VISTA CA 91911 992548436 LOW INCOME HOUSING CA MAAC related -134667 3911830 true true 0.79000 CREST ON IMPERIAL LP 1355 THIRD AVENUE CHULA VISTA CA 91911 873678399 LOW INCOME HOUSING CA MAAC CREST LLC related -87227 false true 0.62900 CRP VALENCIA POINTE LP 122 EAST 42ND STREET SUITE 1903 NEW YORK NY 10168 850752897 LOW INCOME HOUSING CA MAAC VALENCIA POINTE related -52 16606 false true 0.00005 MAAC SENDERO LP 1355 THIRD AVENUE CHULA VISTA CA 91911 863444578 LOW INCOME HOUSING CA MAAC SENDERO MGP LL related 1937531 false true 0.62900 4132 BEYER LP 1355 THIRD AVENUE CHULA VISTA CA 91911 824073607 LOW INCOME HOUSING CA MAAC VENTANA AL SUR related -306 3392407 false true 0.00005 SAN MARTIN MGP 2020 LLC 1355 THIRD AVENUE CHULA VISTA CA 91911 844187176 LOW INCOME HOUSING CA MAAC related -84848 21864619 false true 0.79000 CRP VALENCIA POINTE LP 122 EAST 42ND STREET SUITE 1903 NEW YORK NY 10168 850752897 LOW INCOME HOUSING NY MAAC VALENCIA POINTE related -52 16606 true true 0.00005 COMM 22 SENIOR GP LLC 350 CALIFORNIA STREET 16TH FLOOR SAN FRANCISCO CA 94104 462578975 LOW INCOME HOUSING CA MAAC related 176 2067379 false false 0.25000 COMM 22 LLC 350 CALIFORNIA STREET 16TH FLOOR SAN FRANCISCO CA 94104 731728124 LOW INCOME HOUSING CA MAAC related 1273857 false false 0.30600 COMM 22 HOUSING GP LLC 350 CALIFORNIA STREET 16TH FLOOR SAN FRANCISCO CA 94104 453767700 LOW INCOME HOUSING CA MAAC related 312 3362309 false false 0.25000 MAYBERRY INC 11-3703139 1355 THIRD AVENUE CHULA VISTA CA 91911 113703139 LOW INCOME HOUSING CA MAAC C 1.00000 true MAAC WORTHINGTON LA LUNA FAMILY APTS MGP 1355 THIRD AVENUE CHULA VISTA CA 91911 844856611 LOW INCOME HOUSING CA MAAC C 70 -3145 0.79000 true MAAC WORTHINGTON DEL SOL FAMILY APTS MGP 1355 THIRD AVENUE CHULA VISTA CA 91911 844835546 LOW INCOME HOUSING CA MAAC C 1370 -2028 0.79000 true true true false true true false false false false true false true false true true false true false true MAAC COMMUNITY CHARTER SCHOOL j 3800000 cash VILLA LAKESHORE MGP 2020 LLC a 59 CASH VILLA LAKESHORE MGP 2020 LLC l 61417 cash VILLA LAKESHORE MGP 2020 LLC s 218750 cash MAAC BAYVIEW HEIGHTS LLC l 176509 cash MAAC LAUREL TREE MGP LLC a 120 CASH MAAC LAUREL TREE MGP LLC d 4043167 cash MAAC LAUREL TREE MGP LLC l 63227 cash CREST ON IMPERIAL LP b 87227 cash MAAC SENDERO LP d 248768 cash SAN MARTIN MGP 2020 LLC a 3213 CASH SAN MARTIN MGP 2020 LLC d 7075642 cash SAN MARTIN MGP 2020 LLC l 101424 cash Schedule R Part IV Sch. R, page 2: Direct Controlling Entity-1SAN MARTIN DE PORRES, L.P. 99.9% OWNERSHIP IS HELD BY MAAC SAN MARTIN DE PORRES LLC, WITH MAAC AS SOLE MEMBERSch. R, page 2: Direct Controlling Entity-14PARTNERSHIP PERCENTAGE IS OWNED BY MAAC BAYVIEW HEIGHTS, LLC, WITH MAAC AS A 90% OWNER.Sch. R, page 2: Percentage Ownership-5MAAC OWNS 25% OF COMM 22 SENIOR GP, LLC; WHICH OWNS .01% OF COMM 22 SENIOR HOUSING LP, WHICH IS .000025.Sch. R, page 2: Percentage Ownership-12PARTNERSHIP OWNERSHIP PERCENTAGE IS .0051.Sch. R, page 2: Percentage Ownership-14PARTNER ENDING SHARE OF PROFIT, LOSS AND CAPITAL IS .009%. OWNED BY MAAC BAYVIEW HEIGHTS LLC.Sch. R, page 2: Percentage Ownership-19PARTNERSHIP PERCENTAGE IS .007, ROUNDED UP TO .01%.