Housing Trust Fund Ventura County

Everyone deserves a home

Camarillo, CA   |  www.housingtrustfundvc.org

Mission

The mission of Housing Trust Fund Ventura County (HTFVC) is to partner with supporters, donors and developers in providing affordable housing options that create stable homes for underserved residents of Ventura County and increasing the supply of affordable housing.

Notes from the nonprofit

Providing low-interest rate loans to develop affordable housing in Ventura County, California.

Ruling year info

2012

CEO

Linda Braunschweiger

Main address

360 Mobil Ave. Suite 213AA

Camarillo, CA 93010 USA

Show more contact info

EIN

45-3191747

NTEE code info

Fund Raising and/or Fund Distribution (L12)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

As the 8th most expensive metropolitan area in the US (National Low Income Housing Coalition), 78% of Ventura County residents do not earn enough ($34.68/hr.) to afford a 2-bedroom apartment at market-rate (ave. $2,023/mo.); almost 22% of households in the County make less than 46% of median household income; 10% are living below poverty level. Chronic very low vacancy rate (below 3%) creates high demand and premium pricing. Average age of apartments is 40 years, requiring more maintenance and are more likely to have expiring affordable covenants. The results of high housing costs comparative to wage include high homeless or at-risk population, families with more than one full-time job, crowded living conditions, spending 50% or more on housing, minimal resources for food, healthcare and education, hard to retain and attract businesses and jobs to the region, high commuter traffic.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Revolving Loan Fund

The "Revolving Loan Fund" generates below market interest rate loans for pre-development, construction, and bridge/gap loans to developers producing affordable multifamily housing unit in Ventura County.

Population(s) Served
Economically disadvantaged people
Homeless people

Where we work

Accreditations

Community Development Financial Institution 2018

CDFI (Community Development Financial Institution) - COIN (California Organized Investment Network) 2016

Aeris Rated 2021

Awards

Nonprofit of the Year 2019

Ventura Chamber of Commerce

CEO named top 50 Women In Business Award 2021

Pacific Coast Business Time

Affiliations & memberships

Ventura Chamber of Commerce - Nonprofit of the Year 2019

Housing Land Trust Ventura County a supporting nonprofit 2020

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of loans issued to clients

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Related Program

Revolving Loan Fund

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Since 2013, HTFVC has made 17 loans on 15 projects, incl. one 17-year residual receipts loan. Most are for multi-family rental affordable housing units, two loans are single-family for-sale.

Total dollar amount of loans issued

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Related Program

Revolving Loan Fund

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Since 2013, HTFVC has issued 20 loans totaling $10.8M. $6M has been repaid to date with the funds put back into the lending pool.

Number of housing units financed

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Related Program

Revolving Loan Fund

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Since 2013, HTFVC has helped finance the creation of 598 new affordable housing units, of which 141 has been fully completed and occupied by families and individuals.

Number of affordable housing units financed for targeted populations

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Related Program

Revolving Loan Fund

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

HTFVC provides priority funding to projects serving homeless persons, farm workers, transitional-age foster youth, veterans, and extremely-low to very-low-income families.

Total dollars received in contributions

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Related Program

Revolving Loan Fund

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Context Notes

Since inception, HTFVC has received $4,487,060 in donations (excluding investment loans) from 389 businesses, individuals and organizations, and ALL ten cities, the County, and State HCD.

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Our primary goal is to increase the supply of affordable housing in Ventura County, thereby creating strong, sustainable, inclusive communities and quality homes that are affordable for all. Ultimately, we aim to utilize housing as a platform for improving quality of life. To address this problem, we help finance new and safe affordable housing for low-income individuals and families. We attract capital from sources not traditionally dedicated to housing, and leverage it with public, corporate, nonprofit and individual funds, building a revolving loan fund dedicated to expanding affordable and workforce housing. From the Fund we make short-term, below-market interest rate loans to developers for new affordable housing projects. We provide capital for single-family, multi-family, rental and owner-occupied affordable housing. We play a key role as part of a project's total financing mix, helping attract funds from other sources. We aim to support both the affordable housing developer as well as the renter and future homeowner through consultation and other services.

From our Revolving Loan Fund we make short-term, below-market interest rate loans to developers for new affordable housing projects. Eligible projects include 1) new construction of affordable housing, and 2) acquisition and conversion of market rate housing or non-residential property to affordable housing. Loans are typically awarded for pre-development, gap financing, and construction costs. As resources permit, we are able to provide longer terms and other types of loans such as rehab of housing with expiring covenants to keep them affordable. Currently we prioritize funding for developments that serve: veterans, homeless, youth transitioning out of foster care, farm-workers, and extremely-low to low-income households. To increase our positive impact on housing affordability, we are looking at other products/services including down-payment assistance, shared ownership equity through a land trust, first-time home-buyer assistance programs, temporary and semi-permanent shelter assistance, etc.

In the eight years since formation, we have developed a Revolving Loan Fund over $6 million with support from an impressive varied mix of 85 for-profit businesses, 35 foundations/non-profits, the State, County and all 10 cities, and 204 individuals. We are a certified CDFI, certified at the federal level in March 2018, and in 2015 at the State COIN level. We are actively growing this fund by pursuing C1DFI investments and grants, participating in the State of California Prop. 1 program (voter approved Nov. 2018) with a potential $25m match, receiving low-interest investment loans, engaging businesses and employers at the local level (possible Community Impact Note product), developing a legislated dedicated funding source, and supporting legislative efforts and the State level.
We have 2.5 staff, 5 contract consultants, 18 board members, and several other individuals as committee members and volunteers. Our board members represent varied sectors including local government, banking, housing development, housing providers, real estate industry, target populations, and legal. We are active participants in local and regional housing and economic development forums partnering with other nonprofits, business community, university research, and municipal players.

2011 - Granted 501c3 nonprofit status
April 2016 - Certified under the State COIN CDFI program (California Organized Investment Network)
March 2018 - Certified under the federal CDFI program

2012 - Received a $2 million matching grant from State of California (Prop. 1C)
July 2016 - Raised the full $2 million matched funds
Dec. 2016 - Loaned (or committed) the full $4 million of grant + match.

2013 - 2018 $4.7 million in 12 loans for 10 projects creating 143 new affordable housing units.
2013 - 2018 $2.78 million in repaid loans, put back into the Fund.
Jan 2017 - First long-term residual receipts loan
Dec 2017 - First for-sale, single-family development loan

Hosted 6 successful annual celebration/fundraising events each attended by about 160-200 people.
Financial support from 335 separate individuals, businesses, organizations and municipal entities, including ALL ten cities and the County.
Received $2.5 million in investment loans from 5 entities.

As of March 2021, HTFVC has lent close to $11M in short term loans for pre-development, acquisition, construction, and gap/bridge funding for new affordable housing. These developments will produce 720 units of housing.

Financials

Housing Trust Fund Ventura County
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
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  • Compare nonprofit financials to similar organizations

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Housing Trust Fund Ventura County

Board of directors
as of 4/6/2021
SOURCE: Self-reported by organization
Board co-chair

Alex Russell

Many Mansions

Term: 2021 - 2021


Board co-chair

Tracy McAulay

County of Ventura, Executive Office

Term: 2021 - 2021

Dawn Dyer

Dyer Sheehan Group

Marni Brook

Women's Economic Ventures

Mary Ann Krause

Retired City Planner, Former Mayor

Mark Pettit

Lauterbach & Associates Architects

Stratis Perros

City of Simi Valley

Lynn Oshita

City of Thousand Oaks

Anthony Mireles

Laborers International Union Local 585

Karen Flock

Housing Authority of the City of San Buenaventura

Cathi Nye

Ventura County Office of Education

Jennie Buckingham

City of San Buenaventura, Community Development Department

Carrick DeHart

California State University, Channel Islands

Daniel Gonzalez

Future Leaders of America

Cesar Hernandez

Center for Community Change

Emilio Ramirez

City of Oxnard

Brittany Seniff

Community Development Partners

Ken Triguerio

People's Self-Help Housing

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 04/06/2021

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Decline to state
Disability status
Person with a disability

Race & ethnicity

Gender identity

 

Sexual orientation

Disability

We do not display disability information for organizations with fewer than 15 staff.

Equity strategies

Last updated: 04/06/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.