Sequoia Affordable Housing Foundation

Analysis

Sequoia Affordable Housing Foundation is a registered charity in United States, based in Escondido, CA. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Sequoia Affordable Housing Foundation reported income of $2.6m and spending of $2.7m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $47k to $2.6m (+5343%), an average of +172% a year. The sharpest change came in the year to June 2020, when income rose by 709%. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Sequoia Affordable Housing Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Friendship Manor Corporation ($2.6m), Community Havens Inc ($2.6m) and Mercy House Chdo Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.3% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $27k (1.0% of expenses). Other salaries and wages came to $946k. At year end it held assets of $7.2m against liabilities of $8.4m, net assets of -$1.2m. It reported 38 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.