The San Francisco Housing Accelerator Fund
The San Francisco Housing Accelerator Fund
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About this organization
Mission
Our mission is to invest in the preservation and expansion of quality affordable housing and community facilities. We accelerate the production and preservation of affordable housing for San Francisco’s economically disadvantaged households, individuals, and communities by lending to, investing in, and directly acquiring real estate assets.
About
In FY 2019, the fund closed five additional transactions with a total amount of $61.6M, including 3 big sites loans, while diversifying its network of borrowers. New loans were as follows: CCDC: 937 Clay $11.6M, EDA: 4830 Mission $13.4M, TNDC: 270 Turk $24.9M, CCDC: 1535 Jackson $7.2M, SFHDC: 520 Shrader $4.4M. During the year, SFHAF continued to build its preservation lending portfolio to achieve geographic scale across San Francisco. SFHAF began convening the Housing Preservation Lab (HPL), a group of non-profit developers aiming to implement small sites anti-displacement preservation throughout the city where residents faced risk of displacement. Due, in part, to the capacity building and scaling efforts within HPL, SFHAF was able to expand the geographic footprint of its lending portfolio in the last year. SFHAF has now funded anti-displacement acquisition projects in Chinatown, the Tenderloin, the Mission, and Haight-Ashbury. Also during the year, SFHAF, through its Homes for the Homeless subsidiary, purchased a parking lot to develop 146 new units of permanent supportive housing to serve individuals experiencing chronic homelessness. During FY 2019, the team selected a developer, completed building designs, received entitlement approvals for the project, and received a letter of soft commitment from the City of San Francisco for a future rental contract.
Interesting data from their 2020 990 filing
The filing documents outline the non-profit's mission as “Sfhaf's mission is to invest in the preservation and expansion of quality affordable housing and community facilities. we accelerate the production and preservation of affordable housing for san francisco's economically disadvantaged households, individuals, and communities by lending to, investing in, and directly acquiring real estate assets. we believe that access to quality affordable housing for low- and moderate-income residents is crucial to achieving positive social and economic outcomes for communities citywide, stabilizing residents at risk of displacement, and revitalizing under-invested neighborhoods.”.
When outlining the tasks it performs, they were referred to as: “The san francisco housing accelerator fund supports affordable housing, community development and economic development of the city and county of san francisco's economically disadvantaged individuals and communities, by lending to, investing in, and directly acquiring such affordable housing and related community development real estate assets.”.
- The non-profit's reported state of operation is CA as per legal requirements.
- The filing reveals that the address of the non-profit in 2020 is 25 TAYLOR STREET, SAN FRANCISCO, CA, 94102.
- As of 2020, the non-profit has 3 employees reported on their 990 form.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $18,017,569.
- The organization has 7 independent voting members.
- The organization was formed in 2002.
- The organization pays $451,138 in salary, compensation, and benefits to its employees.
- The organization pays $69,782 in fundraising expenses.
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