2026-03-14T14:19:46-05:00 2025-06-30 420714325 RSM US LLP 919 EAST MAIN STREET SUITE 1800 RICHMOND VA 23219 990 2024-07-01 770545135 HOUSING TRUST SILICON VALLEY HOUS 4087033837 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 4087033837 2026-03-11 1 1 MEREDITH BELL P01696827 8042822121 2026-03-11 2024 2025-03-06 01:10:19Z ANTONIETA RAMOS 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 81367147 0 X WWW.HOUSINGTRUSTSV.ORG X 2000 CA WE USE TRANSFORMATIVE HOUSING FINANCE AND PUBLIC AND PRIVATE PARTNERSHIPS TO CREATE MORE EQUITABLE AND AFFORDABLE COMMUNITIES. 17 17 42 21 0 0 4597128 42711903 7573754 9388788 4341906 4174151 8218 15662 16521006 56290504 499091 322874 0 0 5545974 6028649 0 0 753379 3877037 7290736 9922102 13642259 6598904 42648245 276529893 313661440 135997410 130195269 140532483 183466171 X OUR MISSION AT HOUSING TRUST SILICON VALLEY, IS TO USE TRANSFORMATIVE HOUSING FINANCE AND PUBLIC AND PRIVATE PARTNERSHIPS TO CREATE MORE EQUITABLE AND AFFORDABLE COMMUNITIES. 0 0 6583202 297874 8591579 THE COMPETITIVE REAL ESTATE MARKET IN THE GREATER BAY AREA CREATES A CHALLENGING ENVIRONMENT FOR AFFORDABLE HOUSING DEVELOPMENT. SINCE 2000, HOUSING TRUST HAS MADE LOANS TO 208 AFFORDABLE HOUSING PROJECTS, TOTALING OVER $620 MILLION IN FUNDING AND RESULTING IN 18,945 AFFORDABLE RENTAL HOMES. OUR BORROWERS ARE TYPICALLY COMMUNITY-BASED, NON-PROFIT AND MISSION ALIGNED FOR-PROFIT AFFORDABLE HOUSING DEVELOPERS WHOSE COLLECTIVE MISSION IS TO INCREASE AND PRESERVE THE AFFORDABLE HOUSING STOCK IN THE COMMUNITIES THEY SERVE, AND BY SO DOING, REVITALIZE SUCH COMMUNITIES. WE LEND IN THE GREATER BAY AREA INCLUDING ALAMEDA, CONTRA COSTA, MARIN, MONTEREY, NAPA, SACRAMENTO, SAN BENITO, SAN FRANCISCO, SAN JOAQUIN, SAN MATEO, SANTA CLARA, SANTA CRUZ, SOLANO, AND SONOMA COUNTIES. 1005517 0 779754 SIX-FIGURE DOWN PAYMENTS CAN PUT THE DREAM OF HOMEOWNERSHIP OUT OF REACH. HOUSING TRUST OFFERS FIRST TIME HOMEBUYERS THE EDUCATION AND COUNSELING AND DEFERRED INTEREST LOANS. HOUSING TRUST'S HOMEBUYER TEAM OFFERS ONE-ON-ONE SESSIONS THAT COVER TOPICS INCLUDING SAVING FOR A DOWN PAYMENT AND RESERVES, HOW TO SELECT AND WORK WITH REALTORS AND MORTGAGE LOAN OFFICERS AND WHAT TO EXPECT UPON CLOSING ON A NEW HOME. HOUSING TRUST'S FINANCIAL PRODUCTS REDUCE THE BURDEN OF 20% DOWN PAYMENT REQUIREMENTS AND BRIDGE THE GAP BETWEEN WHAT LOW- TO MIDDLE-INCOME BUYERS CAN AFFORD TO BORROW AND THE EQUITY REQUIRED TO DO SO. SINCE 2000 WE HAVE OFFERED HOMEBUYER DOWN PAYMENT ASSISTANCE AS DEFERRED, AMORTIZING AND EQUITY SHARE LOANS, DEPENDING ON INCOME LEVEL AND NEEDS OF THE BORROWER. OUR LOANS UNDER THESE PROGRAMS RANGE FROM $6,500 TO $250,000. WE HAVE MADE 2,635 DOWN PAYMENT ASSISTANCE LOANS TOTALING OVER $66 MILLION SINCE OUR FOUNDING. IN FY25, HOUSING TRUST PROVIDED EDUCATION AND COUNSELING TO 382 HOPEFUL HOMEBUYERS, MADE TWENTY DOWN PAYMENT ASSISTANCE LOANS. 197187 25000 0 POLICY AND EDUCATION: HOUSING TRUST ENGAGES IN POLICY AND EDUCATION EFFORTS TO STRENGTHEN THE AFFORDABLE HOUSING MARKET IN OUR REGION. THIS INCLUDES SUPPORTING LOCAL AND STATE INITIATIVES THAT PROMOTE AFFORDABLE HOUSING DEVELOPMENT AND ADVOCATING FOR POLICIES THAT ADDRESS HOUSING AFFORDABILITY. 1936499 17455 OTHER PROGRAMS 1936499 17455 9722405 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 63 0 1 42 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X X X JULIE MAHOWALD CFO AND HEAD OF PAR 4087033837 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 LISA GUTIERREZ CHAIR 4.00 X X 0 0 0 JONATHAN FEARN FIRST/SECOND VICE CHAIR 1.00 X X 0 0 0 KEVIN DEEBLE TREASURER 1.00 X X 0 0 0 SHARON LEE SECRETARY 1.00 X X 0 0 0 JOE ANZALONE DIRECTOR 1.00 X 0 0 0 JANA BARSTEN DIRECTOR 1.00 X 0 0 0 MIKE BEASLEY DIRECTOR 1.00 X 0 0 0 TATIANA BLANK DIRECTOR 1.00 X 0 0 0 EMILY DE LA GUERRA DIRECTOR 1.00 X 0 0 0 KATIE FERRICK DIRECTOR 1.00 X 0 0 0 FIONA HSU DIRECTOR 1.00 X 0 0 0 WELTON JORDAN DIRECTOR 1.00 X 0 0 0 MEG MCGRAW-SCHERER DIRECTOR 1.00 X 0 0 0 SINDY SPIVAK DIRECTOR 1.00 X 0 0 0 TIM STEELE DIRECTOR 1.00 X 0 0 0 DANA STRANZ DIRECTOR 1.00 X 0 0 0 AHMAD THOMAS DIRECTOR 1.00 X 0 0 0 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 40.00 X 444324 0 21095 JULIE QUINN CHIEF PROGRAM & IMPACT OFFICER 40.00 X 242026 0 31325 NAZMIN BISHOP CHIEF DEV. & COM. OFF. (UNTIL 10/24) 40.00 X 194267 0 36122 JULIE MAHOWALD CFO & HEAD OF P'SHIPS & STRATEGY 40.00 X 333938 0 36108 SEAN CALLUM CHIEF CREDIT & RISK OFF. (BEG 01/25) 40.00 X 0 0 0 NICHOLAS FRIEND CHIEF LENDING OFF. (BEG 02/25) 40.00 X 0 0 0 STEPHANEY KIPPLE MULTIFAMILY LENDING MANAGER 40.00 X 189917 0 16739 MARTHA LOPEZ MANAGER, LOAN ADMIN 40.00 X 148601 0 25692 VIVIAN VO ACCOUNTING MANAGER 40.00 X 159231 0 12003 BRENT MALLOY CONTROLLER 40.00 X 156285 0 39054 GUADALUPE DE LOURDES MEDINA MENDEZ HUMAN RESOURCES DIRECTOR 40.00 X 200888 0 21285 FATHIA MACAULEY FORMER CHIEF LENDING OFFICER 40.00 X 201693 0 19405 2271170 0 258828 23 1 1 0 RSM US LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 TAX AND AUDIT FEES 174473 NEEBA LLC 9224 KEYSTONE RIDGE AVENUE LAS VEGAS NV 89148 PROFESSIONAL FEES 158750 RUTAN & TUCKER LLP 18575 JAMBOREE ROAD 9TH FLOOR IRVINE CA 92612 LEGAL FEES 105942 3 1377612 41334291 42711903 INTEREST INCOME ON LOA 531390 6696098 6696098 PROGRAM SERVICE FEE 531390 2692690 2692690 9388788 3977630 3977630 25273164 25076643 196521 196521 196521 OTHER INCOME 900099 15662 15662 15662 56290504 9388788 0 4189813 322874 322874 1609352 556898 696695 355759 3556260 2159258 1290617 106385 157990 94946 57909 5135 351572 210479 129878 11215 353475 198654 127236 27585 99156 74531 22971 1654 155029 155029 48410 48410 1209744 890844 165804 153096 23630 1075 2500 20055 73635 27460 42418 3757 353721 199160 132953 21608 63095 25452 30397 7246 64929 21251 17886 25792 1699716 1699094 535 87 72738 40955 27340 4443 86197 44664 41533 PROVISION FOR LOAN LOSS 2837240 2837240 DONATIONS & SPONSORSHIP 27750 16500 11250 475746 301070 165114 9562 13642259 9722405 3166475 753379 290 457 70667965 74119894 624998 403726 787715 713618 179485109 218597535 224711 306958 564324 473338 96480 90986 7076787 18559365 16873570 0 692268 868901 276529893 313661440 2237033 2715584 19825380 8978464 2940840 3834567 10250841 8663685 90144869 84654144 10598447 21348825 135997410 130195269 X 110740752 152339011 29791731 31127160 140532483 183466171 276529893 313661440 42648245 285443 0 X X 0 1 X 1 1 1 X 11287252 16913530 13398570 4597128 42711903 88908383 11287252 16913530 13398570 4597128 42711903 88908383 42263384 46644999 166058 445941 2441644 4188925 3977630 11220198 2274 5421 5394 43590 15662 72341 100200922 41951757 0.46550 0.26720 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 2,274. 2021 AMOUNT: $ 5,421. 2022 AMOUNT: $ 5,394. 2023 AMOUNT: $ 43,590. 2024 AMOUNT: $ 15,662. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 73000 73000 10683609 10756609 687830 171958 0 0 1000000 585668 646967 687830 2920465 4380698 48000 48000 348000 73000 517000 250000 146417 161742 171958 730117 1095176 0 1 X 564324 473338 90986 90986 NON-RECOURSE PARTICIPANT LOAN CAPITAL 21092205 ALLOWANCE FOR CREDIT LOSSES - OFF BALANCE SHEET 256620 21348825 X 51990581 285443 -4536956 -4251513 56242094 48410 48410 56290504 13593849 0 13593849 48410 48410 13642259 PART IV, LINE 2B: IN MARCH 2020, HOUSING TRUST ENTERED INTO A SERVICES AGREEMENT WITH GOOGLE ENDEAVOR, LLC, A WHOLLY OWNED FUND OF GOOGLE LLC (GOOGLE). GOOGLE HAS COMMITTED $71.9 MILLION TO CREATE A SEPARATE LAUNCH INITIATIVE FUND, AN AFFORDABLE HOUSING FUND AIMED TO ACCELERATE THE START-UP AND PRESERVATION OF HOMES. LAUNCH INITIATIVE IS A STRATEGIC PARTNERSHIP WHICH ENHANCES HOUSING TRUST'S LENDING CAPACITY AND PROVIDES HOUSING TRUST AND GOOGLE OPPORTUNITIES TO INVEST IN A BROADER RANGE OF AFFORDABLE HOUSING PROJECTS. HOUSING TRUST'S RESPONSIBILITIES INCLUDE SOURCING, UNDERWRITING, CLOSING AND SERVICING LOANS, TAKING AT LEAST A 10% PARTICIPATION IN THE LOANS AND PROVIDING MANAGEMENT SERVICES FOR THE FUND INCLUDING ACCOUNTING. AS THE SERVICER, AT JUNE 30, 2025, HOUSING TRUST HOLDS $3,834,567 BELONGING TO GOOGLE WHICH IS INCLUDED AS RESTRICTED CASH AND CASH EQUIVALENTS, AND THE ASSOCIATED LIABILITY AS FUNDS HELD FOR OTHERS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. PART X, LINE 2: HOUSING TRUST IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE RELATED CALIFORNIA CODE SECTIONS. CONTRIBUTIONS TO HOUSING TRUST QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION AND HOUSING TRUST IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. NO INCOME TAX PROVISION HAS BEEN INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE SINGLE MEMBER LIMITED LIABILITY COMPANY (LLC), WHICH IS GENERALLY CONSIDERED A DISREGARDED ENTITY. THE INCOME AND LOSS OF THE LLC IS INCLUDED IN THE TAX RETURN OF ITS SOLE MEMBER. ONLY THE ANNUAL CALIFORNIA LIMITED LIABILITY COMPANY MINIMUM TAX AND THE ANNUAL FEE APPEAR AS EXPENSE IN THE CONSOLIDATED FINANCIAL STATEMENTS. HOUSING TRUST BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF PROVISION FOR LOAN LOSS -2,837,240. RECLASS OF INTEREST EXPENSE -1,699,716. 1 FAMILY SUPPORTIVE HOUSING 692 N KING RD SAN JOSE CA 95133 770106237 501(C)(3) 0 9091 BOOK PARTIAL LOAN FORGIVEN SACRED HEART COMMUNITY SERVICE 1381 S 1ST STREET SAN JOSE CA 95110 237179787 501(C)(3) 38783 0 PROGRAM SUPPORT COMMUNITY HOUSING DEVELOPMENT CORPORATION OF NORTH RICHMOND 1535 A FRED JACKSON WAY RICHMOND CA 94801 680235719 501(C)(3) 50000 0 PROGRAM SUPPORT SPANISH SPEAKING UNITY COUNCIL OF ALAMEDA COUNTY INC 1900 FRUITVALE AVE SUITE 2A OAKLAND CA 94601 941670490 501(C)(3) 50000 0 PROGRAM SUPPORT RICHMOND NEIGHBORHOOD HOUSING SERVICES INC 3220 BLUME DR STE 198 RICHMOND CA 94806 942791683 501(C)(3) 50000 0 PROGRAM SUPPORT BLACK CULTURAL ZONE COMMUNITY DEVELOPMENT CORPORATION 8321 INTERNATIONAL BLVD OAKLAND CA 94621 843885205 501(C)(3) 50000 0 PROGRAM SUPPORT SCHOOL OF ARTS AND CULTURE AT MHP 1700 ALUM ROCK AVENUE SAN JOSE CA 95116 800714882 501(C)(3) 50000 0 PROGRAM SUPPORT YES ON 5 CALIFORNIANS FOR SAFE AFFORDABLE COMMUNITIES 2350 KERNER BLVD SUITE 250 SAN RAFAEL CA 94901 823794217 501(C)(4) 25000 0 PROGRAM SUPPORT 7 1 PART I, LINE 2: THE ORGANIZATION ADMINISTERS ITS GRANT PROGRAMS THROUGH STAFF OVERSIGHT GUIDED BY BOARD-REVIEWED PROGRAM GUIDELINES. PROPOSED PROGRAMS ARE PRESENTED TO THE COMMITTEE OF THE BOARD DESIGNATED TO REVIEW PROGRAMS FOR DISCUSSION AND TO ENSURE ALIGNMENT WITH ORGANIZATIONAL PRIORITIES. STAFF MAKE INDIVIDUAL GRANT AWARD DECISIONS BASED ON THESE GUIDELINES, AND ALL GRANTEES ENTER INTO WRITTEN AGREEMENTS OUTLINING THE USE OF FUNDS AND REPORTING REQUIREMENTS. THE ORGANIZATION MONITORS GRANT USE THROUGH PERIODIC NARRATIVE AND FINANCIAL REPORTS, WITH FOLLOW-UP AND CORRECTIVE ACTION TAKEN IF NEEDED. THE ORGANIZATION ALSO MAKES GRANTS ON AN OCCASIONAL BASIS OUTSIDE OF ITS PROGRAMMATIC GRANTS. THESE AD HOC GRANTS ARE REVIEWED AND APPROVED BY THE CHIEF EXECUTIVE OFFICER AND GENERALLY NOT SUBJECT TO WRITTEN AGREEMENTS, SIGNIFICANT REPORTING, NOR MONITORING REQUIREMENTS DESCRIBED ABOVE. X X X X X 1 0 0 0 0 0 0 1 0 ANTONIETA RAMOS CHIEF EXECUTIVE OFFICER 369997 0 73027 0 1300 0 17250 0 4229 0 465803 0 0 0 JULIE MAHOWALD CFO & HEAD OF P'SHIPS & STRATEGY 311124 0 22814 0 0 0 15681 0 20802 0 370421 0 0 0 JULIE QUINN CHIEF PROGRAM & IMPACT OFFICER 223026 0 19000 0 0 0 11455 0 20223 0 273704 0 0 0 NAZMIN BISHOP CHIEF DEV. & COM. OFF. (UNTIL 10/24) 145022 0 0 0 49245 0 8175 0 29948 0 232390 0 0 0 GUADALUPE DE LOURDES MEDINA MENDEZ HUMAN RESOURCES DIRECTOR 178703 0 22185 0 0 0 9055 0 13076 0 223019 0 0 0 FATHIA MACAULEY FORMER CHIEF LENDING OFFICER 128836 0 0 0 72857 0 10185 0 9628 0 221506 0 0 0 STEPHANEY KIPPLE MULTIFAMILY LENDING MANAGER 159938 0 29979 0 0 0 8006 0 9263 0 207186 0 0 0 BRENT MALLOY CONTROLLER 156285 0 0 0 0 0 8241 0 31196 0 195722 0 0 0 MARTHA LOPEZ MANAGER, LOAN ADMIN 140397 0 8204 0 0 0 7040 0 18980 0 174621 0 0 0 VIVIAN VO ACCOUNTING MANAGER 149007 0 8924 0 1300 0 7658 0 4895 0 171784 0 0 0 PART I, LINE 4A THE FORMER CHIEF DEVELOPMENT OFFICER AND FORMER CHIEF LENDING OFFICER RECEIVED SEVERANCE PAYMENTS DURING THE YEAR. THE AMOUNTS ARE INCLUDED IN PART II, COLUMN B(III). THE TERMS AND CONDITIONS ARE AVAILABLE TO THE IRS UPON REQUEST. PART I, LINE 7 THE CEO RECEIVED A NON-FIXED DISCRETIONARY BONUS APPROVED BY THE BOARD OF DIRECTORS. EMPLOYEES RECEIVED NON-FIXED DISCRETIONARY BONUSES BASED ON ORGANIZATIONAL AND INDIVIDUAL PERFORMANCE. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT 990 IS REVIEWED BY THE CFO FOR ACCURACY. THE 990 IS THEN REVIEWED BY THE AUDIT COMMITTEE, WHO RECOMMENDS THE 990 FOR APPROVAL BY THE ENTIRE BOARD. THE ENTIRE BOARD RECEIVES A COPY OF THE FORM 990 PRIOR TO FILING IN SUFFICIENT TIME TO POSE ANY QUESTIONS OR GIVE COMMENTS AND APPROVES THE 990. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER MUST COMPLETE AND SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. NEW BOARD MEMBERS OR THOSE BEING CONSIDERED ARE EVALUATED TO SEE IF THERE EXIST ANY CONFLICT OF INTEREST. THE CHIEF EXECUTIVE OFFICER OR OTHER OFFICER OR PERSON WITH SUBSTANTIAL INFLUENCE OVER HOUSING TRUST SHALL DISCLOSE TO THE BOARD ALL MATERIAL FACTS REGARDING HIS OR HER AFFILIATION WITH ANY PERSON WITH WHOM HOUSING TRUST IS CONSIDERING ENTERING A TRANSACTION. IF THE BOARD IS EVALUATING A BUSINESS DEALING WITH AN ENTITY THAT A BOARD MEMBER HAS SOME INVOLVEMENT, THE BOARD MEMBER RECUSES THEMSELVES FROM ALL DISCUSSION AND FROM VOTING. IN ADDITION THE BOARD MEMBER ALSO EXCUSED THEMSELVES FROM THE MEETING TO ALLOW OTHER MEMBERS TO DISCUSS THE DEAL CANDIDLY. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE RELIES UPON SALARY SURVEY DATA TO DETERMINE THE REASONABLENESS OF THE COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER (CEO) AND CHIEF FINANCIAL OFFICER (CFO). THE CEO PRESENTS COMPENSATION INFORMATION FOR THE CFO TO THE PERSONNEL COMMITTEE FOR APPROVAL. THE CEO USES COMPARABILITY DATA TO DETERMINE COMPENSATION OF THE CHIEF LENDING OFFICER, CHIEF DEVELOPMENT & COMMUNICATIONS OFFICER, CHIEF CREDIT AND RISK OFFICER AND CHIEF PROGRAM & IMPACT OFFICER. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE AT THE ORGANIZATION OFFICES WHICH ARE AVAILABLE FOR INSPECTION MONDAY TO FRIDAY (EXCEPT HOLIDAYS), 9AM TO 5PM. POST AUDITED FINANCIALS ON WEBSITE. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED SINCE THE PRIOR TAX YEAR. LTOA LLC 75 E SANTA CLARA STREET 1350 SAN JOSE CA 95113 460669111 AFFORDABLE HOUSING CA 0 0 HOUSING TRUST SILICON VALLEY