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PROVIDING AFFORDABLE RENTAL HOUSING THAT EMPOWERS LOW-INCOME RESIDENTS AND CHANGES COMMUNITIES.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$72M
Program Spending
33%
of total expenses go to program services
Total Contributions
$7.3M
Total Expenses
▼$66.1M
Total Assets
$400.8M
Total Liabilities
▼$313.8M
Net Assets
$87.1M
Officer Compensation
→$5.3M
Other Salaries
$16.5M
Investment Income
$10.1M
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$2.8M
Awards Found
2
Department of the Treasury
$2M
PURPOSE: TO ATTRACT FINANCING FOR AND INCREASE INVESTMENT IN AFFORDABLE HOUSING FOR PRIMARILY LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME PEOPLE AND FOR CERTAIN RELATED ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES. PLANNED ACTIVITIES: THROUGH COMPETITIVE GRANTS, THE CAPITAL MAGNET FUND (CMF) PROVIDES CAPITAL TO FINANCE AND SUPPORT AFFORDABLE HOUSING AND RELATED ECONOMIC DEVELOPMENT. END GOALS: EXPECTED OUTCOMES INCLUDE INCREASED PRIVATE INVESTMENT IN THE ACQUISITION, DEVELOPMENT, REHABILITATION, AND PRESERVATION OF AFFORDABLE RENTAL HOUSING AND HOMEOWNERSHIP. BENEFICIARIES: CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION; PRIVATE NONPROFIT HOUSING ORGANIZATIONS, PUBLIC NONPROFIT INSTITUTION/ORGANIZATION. LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME INDIVIDUALS AND FAMILIES AS SET FORTH IN 12 C.F.R. PART 1807, AS AMENDED. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of Housing and Urban Development
$800K
ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING, AND MISCELLANEOUS GRANTS
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
10
Clean Audits
10
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $34.4M | Yes | 2026-07-07 |
| 2024 | Clean | Unmodified (Clean) | $33.7M | No | 2025-07-07 |
| 2023 | Clean | Unmodified (Clean) | $19.9M | No | 2024-07-08 |
| 2022 | Clean | Unmodified (Clean) | $1.8M | Yes | 2023-06-28 |
| 2021 | Clean | Unmodified (Clean) | $1.4M | Yes | 2022-09-18 |
| 2020 | Clean | Unmodified (Clean) | $876K | Yes | 2021-08-30 |
| 2019 | Clean | Unmodified (Clean) | $968K | Yes | 2020-06-25 |
| 2018 | Clean | Unmodified (Clean) | $988.4K | Yes | 2019-09-09 |
| 2017 | Clean | Unmodified (Clean) | $1M | Yes | 2018-07-26 |
| 2016 | Clean | Unmodified (Clean) | $2.9M | Yes | 2017-09-29 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$34.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$33.7M
Financial Report
Unmodified (Clean)
Federal Expenditure
$19.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$876K
Financial Report
Unmodified (Clean)
Federal Expenditure
$968K
Financial Report
Unmodified (Clean)
Federal Expenditure
$988.4K
Financial Report
Unmodified (Clean)
Federal Expenditure
$1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.9M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $72M | $7.3M | $66.1M | $400.8M | $87.1M |
| 2023 | $62.6M | $414.7K | $61.3M | $370M | $81.1M |
| 2022 | $53.8M | $1M | $55.3M | $319.3M | $80M |
| 2021 | $51M | $985.6K |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Robert Diaz | Executive Vp, Secretary, General Counsel | 24.3 | $310.9K | $25.6K | $13.8K | $350.2K |
| Michael Ruane | President | 19.4 | $210K | $43.2K | $13.8K | $266.9K |
| Michael Finn | Chief Financial Officer | 17.4 | $182.8K | $62.9K | $13.7K | $259.4K |
| Doretta Bryan | Assistant Secretary | 19.6 | $119.1K | $24.3K | $12.2K | $155.6K |
| Devin Wright | Assistant Secretary | 14.8 | $68.3K | $18.5K | $0 | $86.7K |
| Gregory Bradbard | Sr VP Of External Affairs | 1 | $0 | $50.8K | $0 | $50.8K |
| Jeffrey Burum | Chairman Of The Board/ceo | 1 | $0 | $0 | $0 | $0 |
Robert Diaz
Executive Vp, Secretary, General Counsel
$350.2K
Hrs/Wk
24.3
Compensation
$310.9K
Related Orgs
$25.6K
Other
$13.8K
Michael Ruane
President
$266.9K
Hrs/Wk
19.4
Compensation
$210K
Related Orgs
$43.2K
Other
$13.8K
Michael Finn
Chief Financial Officer
$259.4K
Hrs/Wk
17.4
Compensation
$182.8K
Related Orgs
$62.9K
Other
$13.7K
Doretta Bryan
Assistant Secretary
$155.6K
Hrs/Wk
19.6
Compensation
$119.1K
Related Orgs
$24.3K
Other
$12.2K
Devin Wright
Assistant Secretary
$86.7K
Hrs/Wk
14.8
Compensation
$68.3K
Related Orgs
$18.5K
Other
$0
Gregory Bradbard
Sr VP Of External Affairs
$50.8K
Hrs/Wk
1
Compensation
$0
Related Orgs
$50.8K
Other
$0
Jeffrey Burum
Chairman Of The Board/ceo
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| John Seymour Iii | VP Of Acquisitions | 40 | $353.8K | $0 | $13.8K | $367.5K |
| Christopher Killian | Sr. VP Of Construction | 38 | $332K | $17.5K | $13.8K | $363.2K |
| Alexa Washburn | Sr. VP Planning & Acquisit | 28 | $223.5K | $95.8K | $13.8K | $333.1K |
| Larry Meredith | VP Of Construction | 40 | $276.8K | $0 | $13.8K | $290.6K |
| Courtney Richard | Sr. VP Property Mgmt | 34 | $233K | $41.1K | $2,240 | $276.4K |
John Seymour Iii
VP Of Acquisitions
$367.5K
Hrs/Wk
40
Compensation
$353.8K
Related Orgs
$0
Other
$13.8K
Christopher Killian
Sr. VP Of Construction
$363.2K
Hrs/Wk
38
Compensation
$332K
Related Orgs
$17.5K
Other
$13.8K
Alexa Washburn
Sr. VP Planning & Acquisit
$333.1K
Hrs/Wk
28
Compensation
$223.5K
Related Orgs
$95.8K
Other
$13.8K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Armando Bucelo Jr Esq | Board Member | 1 | $0 | $0 | $0 | $0 |
| Gavin Michael Clingham | Board Member | 1 | $0 | $0 | $0 | $0 |
| Jovita Schofield | Board Member | 1 | $0 | $0 | $0 | $0 |
| Laura Kurtz Kuhns | Board Member | 1 | $0 | $0 | $0 | $0 |
| Nora Mendez | Board Member | 1 | $0 | $0 | $0 | $0 |
| Raymond Crebs | Board Member |
Armando Bucelo Jr Esq
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Gavin Michael Clingham
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jovita Schofield
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $39.9M |
| $192.6M |
| $96.2M |
| 2020 | $58.7M | $5.9M | $31.6M | $168.9M | $94.6M |
| 2019 | $33.8M | $1.2M | $35.6M | $136.2M | $68M |
| 2018 | $58.3M | $428.9K | $28.6M | $126.9M | $62.8M |
| 2017 | $32.8M | $569.5K | $28.2M | $126.3M | $67.6M |
| 2016 | $24.4M | $410.4K | $24.9M | $112.1M | $70.4M |
| 2015 | $24.9M | $1M | $23.5M | $110.5M | $69.8M |
| 2014 | $29.1M | $503.1K | $21.9M | $119M | $63.6M |
| 2013 | $26.2M | $359.1K | $21.1M | $107.8M | $56.7M |
| 2012 | $30.3M | $2.8M | $20.2M | $99.6M | $51.9M |
| 2011 | $27.5M | $401.5K | $22M | $102.2M | $42.1M |
| 2021 | 990 | Data |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| Ashley Wright |
| Sr. VP Of Development |
| 40 |
| $260.2K |
| $0 |
| $13K |
| $273.2K |
| Lesley Hampton | VP Of Development | 28 | $177.2K | $76K | $12.7K | $265.9K |
| Travis Haskin | VP Of Estimating | 38 | $229.6K | $12.1K | $11.4K | $253.1K |
| Michael De La Torre | Sr. VP Of Acquisitions | 40 | $240.7K | $0 | $8,708 | $249.4K |
| Ian Rudisill | Construction Manager | 40 | $221.8K | $0 | $11.1K | $232.9K |
| Lorna Contreras | Assistant VP Of Developmen | 40 | $206.2K | $0 | $10.3K | $216.5K |
| Kevin Chin | VP Of Acquisitions | 40 | $201.4K | $0 | $10.1K | $211.5K |
| Traies Roe | VP Of Administration | 40 | $194.4K | $0 | $9,060 | $203.5K |
| Bobbie Barnett | VP Asset Mgmt & Compliance | 34.6 | $181.8K | $21K | $0 | $202.8K |
| Ariana Brendle | VP Of Acquisitions | — | $0 | $201.1K | $0 | $201.1K |
| Todd Kemp | VP Of It | 36 | $193K | $0 | $0 | $193K |
| John Taylor | VP Of Construction | 40 | $181K | $0 | $9,052 | $190.1K |
| Jill Van Balen | Sr. VP Marketing & Communi | 38 | $174.4K | $0 | $9,180 | $183.6K |
| Dan Lorraine | Sr. VP Property Management | 40 | $174.8K | $0 | $8,742 | $183.6K |
| Barry Oglesby | VP Of Finance & Acquisitio | 40 | $165.9K | $0 | $8,293 | $174.2K |
| Randy Slabbers | Sr. Development Manager | 40 | $158.7K | $0 | $7,933 | $166.6K |
Larry Meredith
VP Of Construction
$290.6K
Hrs/Wk
40
Compensation
$276.8K
Related Orgs
$0
Other
$13.8K
Courtney Richard
Sr. VP Property Mgmt
$276.4K
Hrs/Wk
34
Compensation
$233K
Related Orgs
$41.1K
Other
$2,240
Ashley Wright
Sr. VP Of Development
$273.2K
Hrs/Wk
40
Compensation
$260.2K
Related Orgs
$0
Other
$13K
Lesley Hampton
VP Of Development
$265.9K
Hrs/Wk
28
Compensation
$177.2K
Related Orgs
$76K
Other
$12.7K
Travis Haskin
VP Of Estimating
$253.1K
Hrs/Wk
38
Compensation
$229.6K
Related Orgs
$12.1K
Other
$11.4K
Michael De La Torre
Sr. VP Of Acquisitions
$249.4K
Hrs/Wk
40
Compensation
$240.7K
Related Orgs
$0
Other
$8,708
Ian Rudisill
Construction Manager
$232.9K
Hrs/Wk
40
Compensation
$221.8K
Related Orgs
$0
Other
$11.1K
Lorna Contreras
Assistant VP Of Developmen
$216.5K
Hrs/Wk
40
Compensation
$206.2K
Related Orgs
$0
Other
$10.3K
Kevin Chin
VP Of Acquisitions
$211.5K
Hrs/Wk
40
Compensation
$201.4K
Related Orgs
$0
Other
$10.1K
Traies Roe
VP Of Administration
$203.5K
Hrs/Wk
40
Compensation
$194.4K
Related Orgs
$0
Other
$9,060
Bobbie Barnett
VP Asset Mgmt & Compliance
$202.8K
Hrs/Wk
34.6
Compensation
$181.8K
Related Orgs
$21K
Other
$0
Ariana Brendle
VP Of Acquisitions
$201.1K
Hrs/Wk
—
Compensation
$0
Related Orgs
$201.1K
Other
$0
Todd Kemp
VP Of It
$193K
Hrs/Wk
36
Compensation
$193K
Related Orgs
$0
Other
$0
John Taylor
VP Of Construction
$190.1K
Hrs/Wk
40
Compensation
$181K
Related Orgs
$0
Other
$9,052
Jill Van Balen
Sr. VP Marketing & Communi
$183.6K
Hrs/Wk
38
Compensation
$174.4K
Related Orgs
$0
Other
$9,180
Dan Lorraine
Sr. VP Property Management
$183.6K
Hrs/Wk
40
Compensation
$174.8K
Related Orgs
$0
Other
$8,742
Barry Oglesby
VP Of Finance & Acquisitio
$174.2K
Hrs/Wk
40
Compensation
$165.9K
Related Orgs
$0
Other
$8,293
Randy Slabbers
Sr. Development Manager
$166.6K
Hrs/Wk
40
Compensation
$158.7K
Related Orgs
$0
Other
$7,933
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Richard Dawson | Board Member | 1 | $0 | $0 | $0 | $0 |
| Stephen G Larson | Board Member | 1 | $0 | $0 | $0 | $0 |
| Venus Lujan | Board Member | 1 | $0 | $0 | $0 | $0 |
Laura Kurtz Kuhns
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Nora Mendez
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Raymond Crebs
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Richard Dawson
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Stephen G Larson
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Venus Lujan
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0