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Innovative Housing Opportunities, Inc.

 19772 MacArthur Blvd., Suite 110
 Irvine, CA 92612
[P] (949) 863-9740 x 307
[F] (949) 863-9746
www.InnovativeHousing.com
[email protected]
Michele Rinehart
FOUNDED: 1976
INCORPORATED: 1976
 Printable 1 Page Summary
 Printable Profile
Organization DBA --
Former Names Irvine Housing Opportunities (1976)
Organization received a competitive grant from the community foundation in the past five years No
Employer Identification Number 95-3068902 00000

Summary


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Mission StatementMORE »

Innovative Housing Opportunities provides high quality affordable housing, impactful resident services and Economic Self-Reliance programs for those most in need. 

Mission Statement

Innovative Housing Opportunities provides high quality affordable housing, impactful resident services and Economic Self-Reliance programs for those most in need. 

FinancialsMORE »

Fiscal Year 2017
Projected Expenses $1,247,500.00
Projected Revenue $1,400,800.00

ProgramsMORE »

  • Permanent Affordable Rental Housing

Revenue vs. Expense ($000s)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Expense Breakdown 2012 (%)

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


Overview


Mission Statement

Innovative Housing Opportunities provides high quality affordable housing, impactful resident services and Economic Self-Reliance programs for those most in need. 

Background Statement

In 1976, Irvine Housing Opportunities (IHO) was formed to ensure that there would be housing opportunities for all economic levels in the City of Irvine. In 1981, IHO developed the city’s first 100% Very Low Income apartments for seniors and disabled residents. Between 1983 and 2010, IHO expanded the property twice and, through partnerships, introduced innovative programs that improved brain cognition, health and wellness, and quality of life across cultural and language barriers.
 
During this time, IHO supported other nonprofit developers in Southern California with private loans to build, preserve, and/or rehabilitate at-risk affordable housing units. IHO also donated more than $350,000 to organizations providing a variety of social, health, and repair services to homeless and low-income households.
 
In 2011, IHO’s board and staff grew concerned that the methods used by the affordable housing industry to solve the housing crisis were inadequate and unsustainable. We refocused and committed to bringing high-quality housing and impactful services together in our own properties by employing creative strategies and strategic partnerships with stakeholders who share our commitment to excellence.
 
Today, we are Innovative Housing Opportunities. We believe that by integrating a mix of incomes and population groups, and by bringing targeted, customized services directly to our properties, IHO offers the greatest opportunity to positively impact communities for the long term.
 
If you would like to partner with IHO in this important work, please contact the office at 949-863-9740 or email us at [email protected]

Impact Statement

IHO believes that thriving communities start with housing. We also recognize that stable housing should be a launch pad for our residents and their communities to grow, move into sustainable housing independence, and become leaders and mentors to the next generation of those experiencing housing instability. In 2016, IHO:
  • Opened Rockwood Apartments in Anaheim, CA, 70 units of affordable housing serving over 250 residents, including formerly homeless families and individuals who struggle with mental illness. 
  • Launched our Economic Self-Reliance program at Rockwood, focusing on career and business development and financial literacy.
  • Broke ground on 80 units of affordable housing in Irvine, CA for large families, veterans and developmentally disabled.
  • Acquired an additional property in Anaheim that will provide 54 units for low-income seniors. 
IHO's goals for 2017:
  • Continue to develop and implement Economic Self-Reliance Programs at Rockwood Apartments in Anaheim and Parc Derian Apartments in Irvine.
  • Provide "Pop-Up" Economic Self-Reliance Services at our Acacia Apartments in Brea
  • Acquire properties in the cities of Los Angeles and Long Beach, where we have the support of local officials
  • Continue aggressively seeking new properties to develop that will allow mixed-used development to increase the supply of affordable housing and provide employment and income opportunities for our residents and the surrounding communities.
 

Needs Statement

Innovative Housing Oppourtnities is committed to comprehensive community development that starts with high quality housing. We are entrepreneurial, creative, and collaborative and are interested in partners who share our desire to ahve a lasting impact. Our immediate and ongoing needs are for:
  • Social impact and private investment to help us create high quality housing for low to moderate income households including mixed income, mixed population, and mixed use developments
  • Investors and community partners to support our Economic Self-Reliance programs that equip our residents to develop strong financial habits, build assets, job and entrepreneurship skills, and move into sustainable housing independence
  • Donations to our micro-grant and microloan programs that assist our residents in achieving positive long-term (personal, educational, and professional) goals and giving back to their communities
  • Mentors and accountability partners to individuals, families, parents, youth, and as business resources for our residents
  • Connections to others who can enthusiastically support IHO's mission and vision

CEO Statement

Innovative Housing Opportunities, Inc. takes a creative approach to executing our mission of providing high quality affordable housing to those most in need by cultivating relationships, identifying community assets, and leveraging our strengths with those of our partners. Working collaboratively with cities, investors, and community stakeholders, Innovative Housing is able to increase our impact on and integrate innovative solutions and services into the communities in which we serve. Innovative Housing is a nimble, entrepreneurial organization that values efficiency, longevity, and sustainability. We are committed to developing thriving communities with responsive services and excellent management for the long term. We recognize that stable, vibrant communities start with housing.

Board Chair Statement

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Other Ways to Donate/Volunteer

To donate to our organization, please visit our website or mail a check to our address at 19772 MacArthur Blvd, Suite 110, Irvine 92612. If you are interested in volunteering, please email [email protected]

Geographic Area Served

In a specific U.S. city, cities, state(s) and/or region.
Central Orange County
West Orange County
South Orange County
North Orange County
South Orange County
Southern California including: Orange County, Los Angeles County, Riverside County, San Diego County and San Bernardino County

Organization Categories

  1. Housing, Shelter - Low-Income & Subsidized Rental Housing
  2. Housing, Shelter - Independent Housing for People With Disabilities
  3. Human Services - Supportive Housing for Older Adults

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Programs


Permanent Affordable Rental Housing

Innovative Housing focuses on affordable permanent rental housing. Our pipeline is full of new construction, rehabilitation, and preservation projects. The details of our current portfolio can be seen in the comments.
Budget  $250,000.00
Category  Housing, General/Other Affordable Housing
Population Served Poor,Economically Disadvantaged,Indigent
Program Short-Term Success  Short term success would be supporting the residents who are capable to move out of subsidized housing and into market rate living.
Program Long-Term Success  Our vision is a world where everyone has access to vibrant communities in which they thrive. 
Program Success Monitored By  Our program is monitored on a corporate level and through our partners (service providers, property managers, and other community connections)
Examples of Program Success 

Innovative Housing currently has three properties.

Woodbridge Manor, Irvine: The Woodbridge Manor campus consists of the Charles Cleminshaw Building (100 units), Woodbridge Manor II (50 units), and the Judith Wright Building (15 units). The units are open to senior and disabled residents for between 30 - 60% AMI. In 2006, Innovative Housing completed a rehabilitation that incorporated accessibility, health, and safety upgrades to the individual apartments, community room and kitchen. These renovations followed extensive energy upgrades that included the installation of solar panels to significantly improve the operating efficiency of the property.

Norwalk Christian Tower, Norwalk: Innovative Housing completed a preservation and rehabilitation of Norwalk Christian Tower, 185 senior apartments in the County of Los Angeles, in 2013. The property serves very low and low income tenants. The rehabilitation included the addition of new exterior recreation areas, improved common areas, enhanced resident services, and the largest energy-efficient solar hot water system in the City of Norwalk.

Harding Street Neighbors, Carlsbad: This neighborhood revitalization of the Historic Barrio community includes 23 of 25 parcels on a single block. The completed first phase consolidated ownership, unified landscapes, and built trust and support of the residents, neighboring community, and local government. The development team and the City are moving forward with plans to undergo a complete and major transformation of the neighborhood in the next two to three years.


Management


CEO/Executive Director Patricia Whitaker
CEO Term Start Sept 2011
CEO Email [email protected]
CEO Experience
Patricia ‘Pat ’ Whitaker has thirty years of experience in executive level housing, redevelopment, and community development at Orange County’s two largest cities. Her twenty-year tenure in Santa Ana comprised work in housing development, economic development, redevelopment, job development, downtown business districts, community building, and directing the Santa Ana Housing Authority. Throughout her career, Ms. Whitaker has focused on enhancing quality of life through social services which include intercultural programming, adult and youth education, and wellness. Her expertise also includes strategic planning, nonprofit mentorship, board capacity building, and partnership development. She currently serves on several committees including California Real Estate Women (CREW), ULI Public Realms Initiatives Council, California Association of Local Housing Finance Agencies (Cal-ALFHA) Steering Committee, and the National Association of Housing and Redevelopment Officials (NAHRO) board of directors.

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
Ezra Bolds CFO
Ezra Bolds has over twenty years of experience in the fiscal management of large and complex businesses, including ten years of experience with non-profit organizations. He has used his expertise to plan, develop, implement and maintain effective accounting strategies, policies and procedures in compliance with evolving regulations, legal requirements and industry trends and to assess the effectiveness and efficiency of internal controls that ensure corporate responsibility and accountability. Mr. Bolds, Vietnam Veteran, received his MBA in Business Management from Golden Gate University, and his Bachelor of Science in Accounting from Loyola Marymount University.
Rochelle Mills Director, Housing & Business Development Rochelle Mills is responsible for housing development, new project initiatives, and business development. She brings to IHO a diverse background in architecture, design, construction administration and, community planning. Ms. Mills serves two terms on the South Los Angeles Area Planning Commission and the Crenshaw Community Design review board as President and Co-Chair, respectively. A former instructor for UCLA and Otis School of Art & Design Extensions programs, she also lectured on art and design throughout the US and Canada. She served on the LA Metro Art Advisory Committee and the Los Angeles Cultural Heritage Commission Working Group. Ms. Mills is President of the Southern California Association of NonProfit Housing (SCANPH), and serves on the Kennedy Commission Board of Directors, the Society of Architectural Historians/Southern California Chapter Advisory Board, and is Chair of the OC Veterans & Military Families Collaborative (OCVMFC) Housing Working Group.
Cathleen "Cate" Murphy Senior Program Manager is responsible for resident services, Economic Self-RelianceTM, partnership building and fund development. As Executive Director of iHOPEoc (Interfaith Homeless Outreach Project for Empowerment), Ms. Murphy launched south Orange County’s first resource center serving the needs of the chronically homeless and the working poor. She co-authored Orange County’s first Ten Year Plan to End Homelessness and is an appointed member of the Commission to End Homelessness. Ms. Murphy also serves on the Steering Committee for OC United Way’s Financial Stability Alliance and is President of the Emergency Shelter Coalition in South Orange County.
Michele Rinehart Manager, Administrative Services --
Denice Wint Senior Project Manager Ms. Wint, Leed AP was formally introduced to community and economic development while serving as a Public Ally at CD Tech. She has served as an Administrative Analyst for the City of Inglewood in CDBG and HOME, as an AmeriCorps member at Abode Communities, and as a Senior Project Manager in the Real Estate Development Department at Los Angeles Housing Partnership. Ms. Wint brings extensive experience in complex financial modeling; transit-oriented development (TOD); infill, historic, and mixed-use development; as well as financial management and financial resource development skills.

Awards

Award Awarding Organization Year
Homes Within Reach Award SCANPH 2016

Affiliations

Affiliation Year
-- --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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Staff Information

Number of Full Time Staff 6
Number of Part Time Staff 0
Number of Volunteers 20
Number of Contract Staff 3
Staff Retention Rate % 100%
Staff Professional Development Yes

Staff Demographics

Ethnicity African American/Black: 3
Asian American/Pacific Islander: 0
Caucasian: 3
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 5
Male: 1
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers 3
Management Succession Plan Under Development
Organization Policies And Procedures Yes
Business Continuity of Operations Plan Yes

Risk Management Provisions

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

Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Government Licenses

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CEO Comments

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Foundation Comments

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Governance


Board Chair Elsa Monte
Board Chair Company Affiliation Pacific Western Bank
Board Chair Term Oct 2016 - Oct 2017
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Ron Garcia Retired Mayor Of Brea Voting
Jeffrey Kearns Walker & Dunlop Voting
Chris Kennedy Western National Group Voting
Scott Larson HomeAid OC Voting
Elsa Monte Pacific Western Bank Voting
Zubin Mowlavi Lucid Fusion Voting
Noel Nicholas The Raise Foundation Voting
LaCheryl Porter St. Joseph Center Voting
Jared Riemer Westbrook Properties Voting
Brenda Rodriguez Affordable Housing Clearinghouse Voting
Ron Rohrer Retired Real Estate Broker Voting
Kim Searles Farmers and Merchants Bank Voting
Avi Shah Developer/Consultant Voting
Helen Smith-Gardner OC Housing & Community Development Commissioner Voting
Keith Stanley Horizon Development Consulting Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Additional Board Members and Affiliations

Name Company Affiliations Status
Florita Avila Los Angeles EWDD NonVoting
Rhys Burchill R Morgan NonVoting
Lisa Castillo WNC NonVoting
Nancy Edwards Consultant NonVoting
Michele Folk OPC NonVoting
Kinikia Gardner City of Los Angeles NonVoting
Neel Garlapati Claremont McKenna College NonVoting
M. David Kroot Goldfarb & Lipman LLP NonVoting
Melissa Logan TCA Architects NonVoting
Mari Riddle Community Partners NonVoting
Angela Smith Culver City Unified School District NonVoting
Mary Watson Retired Gerentologist NonVoting
Luke Wright 20/20 Financial Advisors NonVoting

Board Demographics

Ethnicity African American/Black: 2
Asian American/Pacific Islander: 1
Caucasian: 10
Hispanic/Latino: 3
Native American/American Indian: 0
Other: --
Other (if specified): 1 Persian
Gender Female: 5
Male: 10
Not Specified 0

Board Information

Board Term Lengths 2
Board Term Limits 3
Board Meeting Attendance % 90%
Written Board Selection Criteria Yes
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions --
Board Orientation Yes

CEO Comments

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Foundation Comments

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Standing Committees

  • Audit
  • Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
  • Executive
  • Finance
  • Marketing
  • Program / Program Planning
  • Project Oversight

Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Expense Breakdown 2012 (%)

Fiscal Year Jan 01, 2017 to Dec 31, 2017
Projected Revenue $1,400,800.00
Projected Expenses $1,247,500.00
Form 990s

2015 Form 990

2014 Form 990

2013 Form 990

2012 Form 990

2011 Form 990

2010 Form 990

Audit Documents

2014 Audit

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2015 2014 2012
Total Revenue $1,812,020 $948,544 $973,092
Total Expenses $1,435,446 $1,026,532 $579,352

Prior Three Years Revenue Sources

Revenue By Revenue Source
Fiscal Year 2015 2014 2012
Foundation and
Corporation Contributions
$10,028 $9,216 $8,005
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- $0 --
Individual Contributions -- -- --
Indirect Public Support -- $0 --
Earned Revenue $1,513,280 $533,484 $778,591
Investment Income, Net of Losses $288,712 $39,668 $16,496
Membership Dues -- $0 --
Special Events -- $0 --
Revenue In-Kind -- $0 --
Other -- $0 $170,000

Prior Three Years Expense Allocations

Expense By Type
Fiscal Year 2015 2014 2012
Program Expense $2,585 $612,494 $316,132
Administration Expense $1,432,861 $414,038 $263,220
Fundraising Expense -- $0 --
Payments to Affiliates -- $0 --
Total Revenue/Total Expenses 1.26 0.92 1.68
Program Expense/Total Expenses 0% 60% 55%
Fundraising Expense/Contributed Revenue 0% 0% 0%

Prior Three Years Assets and Liabilities

Assets and Liabilities
Fiscal Year 2015 2014 2012
Total Assets $18,416,629 $16,834,206 $14,234,444
Current Assets -- $13,498,526 $11,120
Long-Term Liabilities $11,449,970 $2,652,010 --
Current Liabilities -- $7,550,541 $8,384,088
Total Net Assets $6,966,659 $6,631,655 $5,850,356

Short Term Solvency

Fiscal Year 2015 2014 2012
Current Ratio: Current Assets/Current Liabilities nan 1.79 0.00

Long Term Solvency

Fiscal Year 2015 2014 2012
Long-term Liabilities/Total Assets 62% 16% 0%
Endowment Value --
Spending Policy --
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

IHO had a positive change in net assets in the amount of $442,000 for the fiscal year ended December 31, 2015, which represents an increase of 7% from the prior fiscal year. The increase was mostly driven by developer fees earned on Rockwood Apartments, a 70-unit multi-family
community in Anaheim completed in Sept 2016.
 
Increases in IHO’s total assets and total liabilities during the year mostly reflect the acquisition of the Chicago-Linden Apartments in Riverside and advances to real estate in development, which were reimbursed by the limited partnership.
 
Additionally, IHO contributed to the acquisition and construction of an emergency residential shelter in Orange, CA.
 
IHO will continue to focus its efforts on community revitalization, which in turn will generate greater sustainable revenue sources.

Foundation Comments

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Documents


Other Documents

No Other Documents currently available.