Housing Trust Fund Ventura County

Everyone deserves a home

Camarillo, CA   |  www.housingtrustfundvc.org
GuideStar Charity Check

Housing Trust Fund Ventura County

EIN: 45-3191747


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

Deputy Director, Loan Portfolio Manager

Jason Gaffner

Main address

360 Mobil Ave. Suite 213AA

Camarillo, CA 93010 USA

Show more contact info

EIN

45-3191747

Subject area info

Community and economic development

Shelter and residential care

Population served info

Economically disadvantaged people

Homeless people

Low-income people

NTEE code info

Fund Raising and/or Fund Distribution (L12)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

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

Tax forms

Communication

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 ($34.95/hr.) to afford a 2-bedroom apartment at market-rate (ave. $2,039/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 23 loans on 21 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 21 loans totaling $14M. $7.8M 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 810 new affordable housing units, of which 293 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 $4,805,655 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 nine 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
Fiscal year: Jan 01 - Dec 31
Financial documents
2021 Housing Trust Fund VC 2019 Audit for Dec. 31, 2019 2017 2017 VCHTF Audit-final.pdf
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2020 info

SOURCE: IRS Form 990

1.69

Average of 1.36 over 9 years

Months of cash in 2020 info

SOURCE: IRS Form 990

130.4

Average of 123.1 over 9 years

Fringe rate in 2020 info

SOURCE: IRS Form 990

8%

Average of 7% over 9 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

Source: IRS Form 990 info

Housing Trust Fund Ventura County

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

Fiscal year ending: cloud_download Download Data

Housing Trust Fund Ventura County

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Housing Trust Fund Ventura County

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

This snapshot of Housing Trust Fund Ventura County’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2016 2017 2018 2019 2020
Unrestricted surplus (deficit) before depreciation -$26,999 $204,123 -$58,496 $158,892 -$93,882
As % of expenses -18.6% 119.5% -28.1% 53.7% -23.8%
Unrestricted surplus (deficit) after depreciation -$26,999 $204,123 -$58,496 $158,892 -$94,197
As % of expenses -18.6% 119.5% -28.1% 53.7% -23.9%
Revenue composition info
Total revenue (unrestricted & restricted) $258,078 $1,450,356 $282,226 $433,249 $503,000
Total revenue, % change over prior year -19.6% 462.0% -80.5% 53.5% 16.1%
Program services revenue 3.4% 1.0% 2.9% 13.5% 5.8%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 16.1% 3.8% 22.2% 22.9% 23.0%
Government grants 62.4% 87.1% 53.1% 23.1% 44.7%
All other grants and contributions 18.1% 8.1% 21.7% 40.5% 26.5%
Other revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Expense composition info
Total expenses before depreciation $145,085 $170,820 $208,224 $295,967 $394,482
Total expenses, % change over prior year 15.6% 17.7% 21.9% 42.1% 33.3%
Personnel 14.6% 51.7% 67.4% 52.6% 37.9%
Professional fees 70.5% 31.2% 1.6% 5.4% 5.7%
Occupancy 1.2% 0.8% 0.0% 0.0% 2.1%
Interest 5.2% 4.9% 10.4% 11.1% 13.0%
Pass-through 0.0% 0.0% 2.4% 0.0% 0.4%
All other expenses 8.6% 11.4% 18.2% 31.0% 40.9%
Full cost components (estimated) info 2016 2017 2018 2019 2020
Total expenses (after depreciation) $145,085 $170,820 $208,224 $295,967 $394,797
One month of savings $12,090 $14,235 $17,352 $24,664 $32,874
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $6,290
Total full costs (estimated) $157,175 $185,055 $225,576 $320,631 $433,961

Capital structure indicators

Liquidity info 2016 2017 2018 2019 2020
Months of cash 108.0 177.9 167.1 58.3 130.4
Months of cash and investments 108.0 177.9 167.1 58.3 130.4
Months of estimated liquid unrestricted net assets 20.4 31.7 22.6 22.3 11.1
Balance sheet composition info 2016 2017 2018 2019 2020
Cash $1,306,055 $2,532,012 $2,899,081 $1,438,293 $4,287,079
Investments $0 $0 $0 $0 $0
Receivables $350 $6,000 $0 $0 $0
Gross land, buildings, equipment (LBE) $0 $0 $0 $0 $6,290
Accumulated depreciation (as a % of LBE) 0.0% 0.0% 0.0% 0.0% 5.0%
Liabilities (as a % of assets) 37.2% 20.1% 19.7% 29.3% 40.4%
Unrestricted net assets $246,438 $450,561 $392,065 $550,957 $371,760
Temporarily restricted net assets $1,874,103 $2,949,516 $3,082,016 N/A N/A
Permanently restricted net assets $0 $0 $0 N/A N/A
Total restricted net assets $1,874,103 $2,949,516 $3,082,016 $3,077,016 $3,364,415
Total net assets $2,120,541 $3,400,077 $3,474,081 $3,627,973 $3,736,175

Key data checks

Key data checks info 2016 2017 2018 2019 2020
Material data errors No No No No No

Operations

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

Documents
Form 1023/1024 is not available for this organization

CEO

Linda Braunschweiger

Ms. Braunschweiger has spent thirty years in finance, affordable housing development, non-profit management and business. She spent many years in public affairs and lobbying at the federal, state and local levels working, including working in Washington D.C. for the White House and U.S. Senate. Ms. Braunschweiger launched Braunschweiger & Associates (B&A) in 1999, assisting clients with affordable housing policy strategies, affordable housing financing, and nonprofit management, representing financial institutions, non-profits, local municipalities, housing authorities, and industry trade organizations. Ms. Braunschweiger is the CEO of Housing Trust Fund Ventura County (HTFVC). In her role, she has helped orchestrate the formation of HTFVC, assisted in raising over $4,000,000 in commitments, and funded $4.2m in loans. Ms. Braunschweiger has an BA in Speech Communications and Industrial Psychology and an MBA with a focus in Public Policy. She lives in Camarillo with her two children.

Deputy Director, Loan Portfolio Manager

Jason Gaffner

Jason brings nearly two decades of experience in commercial real estate finance with over $600 million in real estate debt and equity negotiated and closed. Prior to joining the nonprofit, Jason was a senior member of the West Coast originations team for a real estate lending, investment, and advisory company. With experience as both a broker and a lender, Jason has participated in providing financing for all major asset classes, in California and nationwide. Jason holds an MBA from Babson College with a focus on entrepreneurial management. He earned his Bachelor of Science degree from The Wharton School, University of Pennsylvania with a dual concentration in finance and marketing.

Number of employees

Source: IRS Form 990

Housing Trust Fund Ventura County

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Housing Trust Fund Ventura County

Board of directors
as of 09/02/2022
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this 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 4/6/2021

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

The organization's co-leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male, Not transgender (cisgender)
Sexual orientation
Heterosexual or Straight
Disability status
Person without 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.