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Affordable Housing Clearinghouse

 23861 El Toro Road, Suite 401
 Lake Forest, CA 92630
[P] (949) 859-9255
[F] (949) 859-8534
www.affordable-housing.org
[email protected]
Brenda Rodriguez
FOUNDED: 1990
INCORPORATED: 1990
 Printable 1 Page Summary
 Printable Profile
Organization DBA --
Former Names --
Organization received a competitive grant from the community foundation in the past five years No
Employer Identification Number 33-0489568 00000

Summary


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Mission StatementMORE »

The Affordable Housing Clearinghouse is a network of lenders, community groups, and public agencies dedicated to the creation of quality affordable housing.
 The Affordable Housing Clearinghouse fulfills the vision by:

(1) Financing housing for low-income, very-low-income, and special-needs populations (2) Providing education on housing opportunities, issues, and needs (3) Providing a forum for communication, partnerships, and innovative solutions addressing community needs
 

Mission Statement

The Affordable Housing Clearinghouse is a network of lenders, community groups, and public agencies dedicated to the creation of quality affordable housing.
 The Affordable Housing Clearinghouse fulfills the vision by:

(1) Financing housing for low-income, very-low-income, and special-needs populations (2) Providing education on housing opportunities, issues, and needs (3) Providing a forum for communication, partnerships, and innovative solutions addressing community needs
 


FinancialsMORE »

Fiscal Year 2019
Projected Expenses $388,374.00
Projected Revenue $390,612.00

ProgramsMORE »

  • WISH (Workforce Initiative Subsidy for Homeownership)
  • County of Orange Mortgage Assistance Program (MAP)

Revenue vs. Expense ($000s)

Expense Breakdown 2017 (%)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview


Mission Statement

The Affordable Housing Clearinghouse is a network of lenders, community groups, and public agencies dedicated to the creation of quality affordable housing.
 The Affordable Housing Clearinghouse fulfills the vision by:

(1) Financing housing for low-income, very-low-income, and special-needs populations (2) Providing education on housing opportunities, issues, and needs (3) Providing a forum for communication, partnerships, and innovative solutions addressing community needs
 


Background Statement

The Affordable Housing Clearinghouse was formed in 1990 to facilitate lending for affordable housing. It was formed by the Orange County Community Reinvestment Act Coalition, a cooperative network of community organizations, non-profit housing corporations, public agencies, non-profit housing shelters, and advocates for lower income people. This Coalition included the Orange County Human Relations Commission, the Fair Housing Council of Orange County, and the Orange County Homeless Issues Task Force. The Coalition members identified the Community Reinvestment Act (CRA) as a key legislative vehicle in ensuring that lending institutions meet the credit and affordable housing needs of low- and moderate-income people in the localities where these institutions have deposits.
The Affordable Housing Clearinghouse is always evolving to meet the needs of the community. Our original purpose was to facilitate loans for affordable housing and community development projects. We were extremely successful in financing projects through our lender membership, and over our 20-year history, our lender membership successfully funded over $30 million for 662 units of housing for low-income and special needs populations and an additional $2 million in community development projects benefiting low-income and special needs populations. However, after a community needs assessment conducted in 1994 indicated that there were credit needs that were unserved by traditional lending institutions, AHC endeavored to create the Clearinghouse Community Development Financial Institution (CDFI), a direct lending affiliate. The Clearinghouse CDFI made its first loan in 1997 and has been extremely successful.
To promote homeownership, in 1998 AHC set out to build its capacity as a homeownership service provider. We have already funded over $60 million in mortgage loans and have counseled hundreds of families. We have become a premier community lender and homebuyer education provider in Southern California, and we work with cities, counties, and non-profit organizations to promote homeownership. To enhance our homeownership programs, in 2001 AHC identified the need to provide downpayment assistance through various subsidy sources, and in 2003, we became the County of Orange Program Administrator. The program has offered over $12 million in downpayment assistance funds. The program will continue in 2012 with $500 million available.

Impact Statement

National Stablization Program with the County of Orange Community Service Project and Neighborworks OC.
Community Revitilization Program in partnership with Clearinghouse CDFI.
Mortgage Assistance Program through the County of Orange.

Needs Statement

  • Production of more Affordable Housing
  • Production of more affordable rental units
  • Expanding Lender network
  • Expanding nonprofit network

CEO Statement

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Board Chair Statement

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Other Ways to Donate/Volunteer

Donate here: https://www.crowdrise.com/affordablehousingcle#projects Attend our events: https://www.eventbrite.com/o/affordable-housing-clearinghouse-7904775789

Geographic Area Served

Central Orange County
West Orange County
South Orange County
North Orange County

The Affordable Housing Clearinghouse serves southern CA however we are located in Orange County and focus on low to moderate-income families as well as special needs clients.

Organization Categories

  1. Housing, Shelter - Housing Expenses Reduction Support
  2. Housing, Shelter - Housing Search Assistance
  3. Human Services -

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Programs


WISH (Workforce Initiative Subsidy for Homeownership)

Workforce Initiative Subsidy for Homeownership otherwise known as WISH promotes homeownership opportunities. It provides assistance for first-time homebuyers to have the opportunity to be eligible for a 3 to 1 matching grant. Every year the homebuyer resides in the property 20% of the grant is forgiven; after 5 years, 100% of the grant is forgiven. In order to be eligible for our WISH program, you must be a first-time homebuyer, be at 80% median income limits based on your household size and income, and is all subject to availability of funds. The Affordable Housing Clearinghouse works to help provide and service low to very-low income persons with the opportunity to achieve homeownership.

 
Budget  N/A
Category  Housing, General/Other Affordable Housing
Population Served Adults Families Military/Veterans
Program Short-Term Success 

 WISH helps service a grant for persons seeking financial assistance and providing them the opportunity to apply and successfully begin the process of homeownership. 
 

Program Long-Term Success 

WISH program will help give opportunities for low to very low income and other special needs populations to achieve homeownership. A grant program that helps people and families within the Southern California community to successfully attain and maintain a home.

 

 
Program Success Monitored By  Program success is monitored by housing counselors who review applications as well as interview persons applying.
Examples of Program Success  WISH program has helped to secure affordable housing for several families. Through this program, it was able to grant two families homeownership through a project produced by the Affordable Housing Clearinghouse. The Affordable Housing Clearinghouse built 2 new homes targeted to house low-income buyers and WISH was one of the funding components that allowed these families to be able to afford the homes.

County of Orange Mortgage Assistance Program (MAP)

This program, through the County of Orange, provides a $40,000 silent (deferred payment) downpayment assistance loan to low-income first-time homebuyers purchasing in participating cities and unincorporated areas of Orange County.
Homebuyer Requirements:
  • Must be a first-time homebuyer
  • Must meet household income limits
  • Must complete homeownership education seminar offered by Consumer Credit Counseling of Orange County.
  • Contribute minimum 1% of purchase price. Buyer may use gift or grant
  • No credit accounts past due at time loan is recorded.
  • Contact one of the three participating mortgage lenders for pre-qualification.
  • This program helps boost the purchasing power for low-income homebuyers. AHC will help applicants through the whole process, from pre-qualification to closing and homeownership. AHC offers free monthly Downpayment Assistance Orientations at our office, where we go through the process with one of the three approved lenders there to answer any questions.

    Budget  $0.00
    Category  Housing, General/Other Affordable Housing
    Population Served At-Risk Populations Adults Families
    Program Short-Term Success 
    The short term success of the program would be promoting homeownership to low and moderate income homebuyers, who normally are not offered the opportunity. By boosting their purchasing power through the silent second mortgage, homes that were once unattainable now can be bought with affordable mortgage payments. MAP helps promote low-income residents to be able to live in communities close to where they work, instead of being pushed away.
    Program Long-Term Success 
    If the process is successfully completed by an applicant, homeownership rates for low to moderate income homebuyers would begin to increase in a very affluent area of the state. This is significant due to the difficulty of providing affordable housing in an increasingly competitive housing market hindered by low inventory and extravagant prices. By taking homebuyer education workshops, the owner is educated on how to properly budget their expenses for a mortgage and other housing expenses, leading to low foreclosure rates.
    This program not only offers an opportunity to homebuyers that cannot afford the inflating housing prices of Orange County, but also boosting the low housing inventory within the area.
    Program Success Monitored By 
    The success is monitored by AHC and the County of Orange. This is done by documenting each step of the process and correcting any mistakes or missing forms that are needed for a completed application. AHC creates an in-depth portfolio of each applicant to ensure high success rates and help guide and educate any questions that may arise during the process.
    Examples of Program Success  --

    Management


    CEO/Executive Director Ms. Brenda J. Rodriguez
    CEO Term Start July 2009
    CEO Email [email protected]
    CEO Experience --

    Former CEOs and Terms

    Name Start End
    -- -- --

    Senior Staff

    Name Title Experience/Biography
    -- -- --

    Awards

    Award Awarding Organization Year
    -- -- --

    Affiliations

    Affiliation Year
    -- --

    External Assessments and Accreditations

    External Assessment or Accreditation Year
    -- --

    Collaborations

    --

    Staff Information

    Number of Full Time Staff 4
    Number of Part Time Staff 1
    Number of Volunteers 0
    Number of Contract Staff 0
    Staff Retention Rate % --
    Staff Professional Development Yes

    Staff Demographics

    Ethnicity African American/Black: 0
    Asian American/Pacific Islander: 3
    Caucasian: 0
    Hispanic/Latino: 2
    Native American/American Indian: 0
    Other: --
    Other (if specified): 0
    Gender Female: 4
    Male: 1
    Not Specified --

    Plans & Policies

    Organization has Fundraising Plan? Under Development
    Organization has Strategic Plan? --
    Years Strategic Plan Considers --
    Management Succession Plan --
    Organization Policies And Procedures Yes
    Business Continuity of Operations Plan --

    Risk Management Provisions

    Nondiscrimination Policy Yes
    Whistle Blower Policy --
    Document Destruction Policy --
    Directors and Officers Insurance Policy Yes

    Reporting and Evaluations

    Management Reports to Board? No
    CEO Formal Evaluation and Frequency Yes Annually
    Senior Management Formal Evaluation and Frequency Yes N/A
    Non Management Formal Evaluation and Frequency Yes Annually

    Government Licenses

    Housing/Development

    CEO Comments

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    Foundation Comments

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    Governance


    Board Chair David Levy Mr.
    Board Chair Company Affiliation Fair Housing Council of Orange County
    Board Chair Term -
    Board Co-Chair --
    Board Co-Chair Company Affiliation --
    Board Co-Chair Term -

    Board Members

    Name Company Affiliations Status
    Mr. Douglas Bystry Clearinghouse CDFI --
    Mr. Larry Christian Old Republic Title Company --
    Mr. Gary Dunn Fair Housing Council --
    Ms. Kandy Hung East West Bank --
    Mr. Jose Lopez Pacific Mercantile Bank --
    Ms. Elsa Monte Pacific Western Bank --
    Mr. Ajay Nayar AOF Pacific Affordable Housing --
    Ms. Sandra Speed Wells Fargo Bank --
    Mr. Gerald Turner HEAL Collective --
    Mr. Alan Woo Community Member at Large --

    Constituent Board Members

    Name Company Affiliations Status
    -- -- --

    Youth Board Members

    Name Company Affiliations Status
    -- -- --

    Additional Board Members and Affiliations

    Name Company Affiliations Status
    Chi Elder Citi Bank --
    Rossina Gallegos Union Bank --
    Ana Gonzalez CA Consultants --
    Nhadira Johnson Orange Coast Community College --
    Linda Nguyen Wells Fargo --
    Sergio Quiero Citi Bank --
    Sherri Scott Pacific Premier Bank --
    Adey Tasfaye HSBC --
    Danielle Vasquez Sun West Bank --
    Brenda Villegas CEO Read 60 --

    Board Demographics

    Ethnicity African American/Black: 2
    Asian American/Pacific Islander: 2
    Caucasian: 4
    Hispanic/Latino: 2
    Native American/American Indian: 0
    Other: 1
    Other (if specified): Indian
    Gender Female: 3
    Male: 8
    Not Specified 0

    Board Information

    Board Term Lengths --
    Board Term Limits --
    Board Meeting Attendance % --
    Written Board Selection Criteria --
    Written Conflict Of Interest Policy --
    Percentage of Monetary Contributions --
    Percentage of In-Kind Contributions --
    Board Orientation Yes

    CEO Comments

    --

    Foundation Comments

    --

    Standing Committees

    • Advisory Board / Advisory Council

    Financials


    Revenue vs. Expense ($000s)

    Expense Breakdown 2017 (%)

    Expense Breakdown 2016 (%)

    Expense Breakdown 2015 (%)

    Fiscal Year July 01, 2018 to June 30, 2019
    Projected Revenue $390,612.00
    Projected Expenses $388,374.00
    Form 990s

    2017 Form 990

    2016 990

    2015 990

    2014 990

    2013 Form 990

    2012 Form 990

    Audit Documents

    2016 Audit

    2015 Audit

    2014 Audit

    2012 2012 Audit

    IRS Letter of Exemption

    IRS Letter of Determination

    Prior Three Years Total Revenue and Expense Totals

    Fiscal Year 2017 2016 2015
    Total Revenue $470,150 $509,804 $326,547
    Total Expenses $364,506 $334,044 $358,092

    Prior Three Years Revenue Sources

    Revenue By Revenue Source
    Fiscal Year 2017 2016 2015
    Foundation and
    Corporation Contributions
    $325,010 $247,525 $176,481
    Government Contributions $0 $4,800 $0
        Federal -- -- --
        State -- -- --
        Local -- -- --
        Unspecified -- $4,800 $0
    Individual Contributions -- -- --
    Indirect Public Support -- $0 $0
    Earned Revenue $144,662 $126,191 $149,095
    Investment Income, Net of Losses $478 $3,313 $971
    Membership Dues -- $0 $0
    Special Events -- $127,975 $0
    Revenue In-Kind -- $6,181 $0
    Other -- $35,456 $0

    Prior Three Years Expense Allocations

    Expense By Type
    Fiscal Year 2017 2016 2015
    Program Expense $276,668 $262,313 $275,837
    Administration Expense $75,533 $60,101 $70,259
    Fundraising Expense $12,305 $11,630 $11,996
    Payments to Affiliates -- $0 $0
    Total Revenue/Total Expenses 1.29 1.53 0.91
    Program Expense/Total Expenses 76% 79% 77%
    Fundraising Expense/Contributed Revenue 4% 3% 7%

    Prior Three Years Assets and Liabilities

    Assets and Liabilities
    Fiscal Year 2017 2016 2015
    Total Assets $1,557,337 $1,339,589 $1,168,193
    Current Assets $1,067,148 $1,077,982 $966,579
    Long-Term Liabilities $116,133 $0 $0
    Current Liabilities $17,772 $21,802 $26,166
    Total Net Assets $1,423,432 $1,317,787 $1,142,027

    Short Term Solvency

    Fiscal Year 2017 2016 2015
    Current Ratio: Current Assets/Current Liabilities 60.05 49.44 36.94

    Long Term Solvency

    Fiscal Year 2017 2016 2015
    Long-term Liabilities/Total Assets 7% 0% 0%
    Endowment Value --
    Spending Policy N/A
    Percentage(If selected) --
    Are you currently in a Capital Campaign? No
    Capital Campaign Purpose --
    Campaign Goal --
    Capital Campaign Dates -
    Capital Campaign Raised-to-Date Amount --
    Capital Campaign Anticipated in Next 5 Years? --

    CEO Comments

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    Foundation Comments

    Summary financial data is per the Form 990s and consultation with the organization. Foundation/corporate and individual contributions are combined under Foundation and Corporation Contributions. 

    Documents


    Other Documents

    No Other Documents currently available.