shirley hamilton board chair eddie walker board vice-chair christine johnson treasurer eve combs secretary jim escobedo ben golvin andrico penick josie ramirez chuck turner dorris vincent daniel wong david sobel chief executive officer lolita ramos faye d’alessio louise celestine jennifer smith bonnie cooksey sheri powers director of financial empowerment center sandra gates-anderson teresa garza shannon wise diego pinto tikila mcdavid sacha mcgowan sheryl thomas-washburn director of supportive services donna fontenot marlene harris deven richardson director of real estate staff fiscal year 2014 - 15 board of directors fiscal year 2014 - 15 table of contents letter from the board chair and ceo 3 housing & real estate development 4-5 financial empowerment center 6-7 supportive services 8-9 economic development 10-11 partners/funders 12 finance 13 supporters 14 who we assist and other successes 15 our mission sfhdc fosters financial stability through the development of affordable housing, the facilitation of asset building, and re- vitalization of san francisco’s underserved neighborhoods. the four core program areas offered at sfhdc work to ensure the betterment of the community and its members. these programs include housing development, financial empowerment, supportive services, and economic development. reporting for the period of july 1st , 2014 to june 30th , 2015 design credit: sophie schultze-allen and bonnie cooksey sfhdc residents
3 letter from our board chair and chief executive officer peace and blessings, david sobel, chief executive officer 3 warmest regards, shirley hamilton, board chair 2012-2015 big news in early 2015, the bank of america awarded sfhdc the coveted neighborhood builders award, yielding a beautiful trophy, $200,000 in unrestricted grant funding, and leadership development for the ceo and an emerging leader. the following pages depict just a handful of the most meaningful accomplishments of the past twelve months, as seen across our four core program areas: affordable housing development, financial empowerment, supportive services, and economic development. since we know that none of these highlights would have been possible without an enduring cadre of friends, supporters, donors, funders and wonderful, diligent clients, we dedicate this annual report to all of you. we are excited to renew our commitment: to deliver high quality programs, and to continue building homes and hope for low- and moderate-income residents who are working hard to remain in the city that they and we all love so deeply. dear friends, as san francisco housing development corpora- tion’s (sfhdc) 2014-2015 fiscal year reaches its conclusion, it seems clear that we are on the right track. following a double-ceo transition in mid- 2012 and mid-2013, sfhdc strived to build a stable foundation of programs and services that would continue to have credible impact on the communi- ty and residents we serve. we recruited top tal- ent at all levels of the organization, created a new management team of highly respected experts, and supplemented our board of directors, in order to continue providing the leadership and commu- nity representation necessary for sfhdc to meet the demand of our clients and funders. shirley hamilton and david sobel
4 1. housing and real estate development for over 25 years, sfhdc has worked to develop affordable housing that strengthens underserved communities in san francisco. we have built over 400 homes and now have over 700 new units in development to ensure that working families and those less fortunate can remain in the city. our real estate team is engaged in affordable housing opportunities throughout san francisco, with a targeted focus in the bayview hunters point. rendering of hope sf alice griffith public housing
5 this year’s top accomplishments 455 fell st. with mercy housing, we won the opportunity to build 108 low-income family units. 20% will be set aside for formerly homeless households. sfhdc will have a small, satellite office in the building to coordinate financial empowerment and community activ- ities for the residents on site. the project is scheduled for comple- tion in 2018. alice griffith sfhdc is partnering with mccormack baron salazar and tcdc to build the very first affordable housing parcel in the hope sf alice griffith public housing transformation project in the bayview. construction broke ground in april, 2015 and we expect completion in 2016. rad southeast the rental assistance demonstration (rad) program is intended to revitalize public housing by providing access to additional funding sources and turning over operations to private entities. sfhdc is working with john stewart company, related, and ridgepoint nonprofit to renovate a total of 440 units at hunters point east/west and westbrook apartments. construction is expected to begin by the end of 2016. after completion, sfhdc will have on-site offices to provide support for the 440 families in the community. 1030 oakdale ave
6 2. financial empowerment center (fec) our goal is to provide a concise framework, path and strategy for individuals and families to achieve real wealth and meaningful financial success. this approach supports their personal vision, mission and core values through group courses and one-on-one couseling. community residents and public officials, including tresurer josé cisneros and supervisor malia cohen, attend financial empowerment center event at sfhdc.
7 this year’s top accomplishments robert adjusted his tattered blanket as he sat in his makeshift home in soma. his noticeably calloused hands were worn from 40 years of manual labor and he had not yet grown accustomed to the cold winter evenings in san francisco. in early january, when a friend told him about sfhdc’s programs, robert found himself walking down bayview’s third street corridor into our fi- nancial empowerment center, his worn-down dream of owning a home closer- at-hand than he could have imagined. after months of working with sfhdc’s housing counseling and financial capability programs, robert is now “independent, saving money, and living on his own.” with spring in full bloom, robert emerges: an empowered, self-sufficient man who owns his home and who can always be there for his children. robert (featured client) and shannon wise (sfhdc) “to financially empower yourself, you have to get out of debt!” - sheri powers director of financial empowerment center fec assisted 1,402 unique clients! we provide accurate, “no holds-barred” financial education, counseling and coaching to create well-informed, empowered consumers and default-resistant home buyers. our education programs: success story clients assisted 19 clients who identified debt reduction as their primary goal were able to reduce their combined debt by $269,950 15 clients increased their combined savings by $58,262 ! homebuyer education d10 eligibility workshop rental readiness hunters point shipyard homebuyer education credit workshop finanical empowerment boot camp
8 3. supportive services our team targets the greatest level of need and creates systems to support residents at our properties, including bayview commons, hunters point east & west, and westbrook apartments. our service connection, case management, and resident engagement practices are effective tools in affordable and supportive housing, often leading to long-term tenant success, housing stability, and community building. happy residents at sfhdc’s bayview commons apartments
9 this year’s top accomplishments our growing programs: with the new rental assistance demonstration (rad) program, sfhdc serves 15 times more families. bayview commons hunters point east/ west rad residents showing off their facepaint and dance moves. case management housing retention services connection information & referrals workforce connection youth and senior programming summer lunch program family and holiday events community building health and wellness programs families serviced bayview commons hunters point east/west & westbrook gloria, a teaching artist, moved to bayview commons with her husband kenith in november 2011, after he had been diagnosed with kidney disease. they had left their home in las vegas because he could only get his kidney replaced in san francisco. after waiting four years, in october of 2015, kenith finally got a new kidney and his health is now slowly improving. despite being in a completely new city, not only has gloria been able to take care of her hus- band but she also advocates for other residents to make bayview commons a better home for everyone. in the last four years, while living at bayview commons, gloria earned a bach- elor’s degree from mills college, continued to perform, created her own skin- care product, taught as a substitute teacher, and got into a prestigious master of fine arts program at goddard college. her goal is to start her own produc- tion company, making creative and educational television shows for children. 1. donna fontenot, bayview commons resident service coordinator and certified life coach success story featured resident gloria “gloria gets me so motivated!” – donna fontenot1
10 4. economic development creating financially stable communities that can support its residents takes more than offering affordable housing. for our housing opportunities to be successful, our residents also need access to employment, goods, and services close to where they live. thus, we also support the viability of local business- es in neighborhoods we serve. 4800 third street, completed by sfhdc in 2010
11 this year’s top accomplishments sfhdc is proud to announce that radio africa & kitchen, our commercial tenant at 4800 third street, recently expanded hours to include lunch service. “we have big plans,” says the talented and well- known owner, chef eskender. he is also hosting community dinner every tuesday, wherin he prepares a gourmet, two-course meal for $10! ocean beach we continued to sponsor about 30,000 square feet of neigh- borhood serving retail space at ocean beach apartments, together with our partner, epmi bayside management. these shops offer convenient goods and services, as well as employment opportunities, to the immediate neighborhood. research shows, “the development of affordable housing increases spending and employment in the surrounding economy, acts as an important source of revenue for local governments, and reduces the likelihood of foreclosure and its associated costs.” the role of affordable housing in creating jobs and stimulating local economic development: a review of the literature by keith wardrip, laura williams, and suzanne hague january 2011, p. 1 chef eskender aseged at radio africa & kitchen
12 funders bank of america boston private bank & trust bridge housing charles schwab bank comerica bank consumer credit counseling services, sf corporation for national & community service dignity health first republic bank forest city enterprises haas sr. foundation hsbc north america human services agency the implementation committee for the bayview hunters point core community benefits agree- ment jp morgan chase john stewart co. lennar corporation lisc mccormack baron salazar mission economic development agency national community reinvestment coalition related california san francisco mayor’s office of housing and com- munity development salesforce foundation san francisco general hospital foundation the san francisco foundation union bank united way u.s. department of housing and urban development (hud) wells fargo bank partners asian, inc. bayview opera house (3rd on third) bayview y bridge housing caritas management city of dreams consumer credit counseling services, sf episcopal community services epmi, a bayside company forest city enterprises homeownership sf hunters point family john stewart co. lennar corporation mccormack baron salazar mercy housing mission economic development agency national community reinvestment coalition opportunity fund related california ridgepoint nonprofit housing rural community assistance corporation san francisco general hospital solutions for women tang soo do house partners & funders d10 financial empowerment program service/product partners the san francisco office of financial empowerment asian, inc. bank on san francisco bayview hunters point community legal college track new generation covenant church opportunity fund tax-aid referral partners bayview hunters point community legal bayview hunters point multipurpose senior services habitat for humanity greater san francisco old skool café potrero hill neighborhood house renaissance entrepreneurship center the salvation army golden state division sustainable futures visitation valley family services bayview commons residents
13 revenue: fiscal year 2013-14 fiscal year 2014-15 foundation grants $355,000.00 $505,000.00 contract revenue $278,883.00 $380,038.00 contributions $90,891.00 $89,682.00 management fees $91,422.00 $104,361.00 interest income $7,737.00 $6,451.00 gain/(loss) on partnership investment $(69.00) _ other income $67,094.00 $115,773.00 development income _ $96,375.00 finance revenue fy 2014-15 expenses fy 2014-15 foundation grants contract revenues contributions management fees interest income other income development income housing counseling supportive services project management administration fundraising shared expenses expenses: fiscal year 2013-14 fiscal year 2014-15 housing counseling $287,435.00 $529,754.00 supportive services $164,456.00 $183,675.00 project management $49,272.00 $112,129.00 administrative $148,283.00 $136,425.00 fundraising $107,257.00 $110,306.00 shared expenses $100,935.00 $158,137.00 total expenses $857,638.00 $1,230,426.00 operating surplus $33,320.00 $67,254.00 total revenue $890,958.00 $1,297,680.00 fy 2014-15 fy 2013-14 fy 2012-13 statement of activities summary 2012-15 detailed statement of activities
14 rev. james mccray jr. mary mccue martina mckee vanessa montanez gayle moore sam moss cynthia moten candace nance carolyn nash christopher noceti archer norris michael osborne pauline peele and greg freeman alejandra perez aaron & charlice pischke rev. carolyn ransom-scott catherine reilly willie j. robinson dairo romero henry rose jr. pacoma samilla caroline smith charlene smith dedria smith summer smith david sobel & allyson moore edward sobel & judith levine robert & rochelle sobel mimi sullivan steven suzuki tabernacle cdc paulette taggart marcus tartt audrey tearnan jonathan thames felisia thibodeaux lilly velora natalie victorio ricci victorio andrea warren elizabeth warren dr. arelious walker constance walker jenine walker tracy ward alisea wesley-clark donald williams lorraine williams vanessa williams mr. and mrs. martin white pablo wong a huge thank you to all of our individual supporters! supporters karen anderson christi baker roxanne balousek amy bayley miranda beasley jonathan beauford lynn bell ruth beering janet brown diana bryson dikes joanne buddle andrew buhrmann alpha j. buie rev. malcom byrd california shower door corporation alyce cardinale tamica chenier eve combs and ron cofer jean cosby daniel costello matthew covington joyce crum cathy davis kathryn davis mary i. dixon patricia doyle isaac dozier tim dunn lisa estabrook amanda feinstein maricela flores byrd elder carl r. fontenot david gunter kara gonzales robert gonzales rick harper grayling harris linda harrison and ellen anderson jan hass edward hatter erma jo hewett g.l. hodge jennifer house rev. calvin jones jr. dwayne jones charlotte a. kelley karon kennedy onki kwan helen lamar denise lamb dolores lawless hector lee maurilio leon chris lim arthur lockett deborah madaris ren magat
15 who we assist: data represents hud-determined state income limits for residents in the county of san francisco: race/ ethnicity household incomes website relaunch sfhdc annual gala we acknowledge complexities of identity, and have simplified these categories for the purpose of this graph. over 250 guests attended our april 2015 gala & awards dinner, honoring noteworthy individuals and businesses, and raising funds for sfhdc’s programs. in the fall of 2014, we launched our new website, through which our clients and funders can more readily access important news about our services and other resources. household size: 1 2 3 4 5 6 other successes of the year: household size: 123456
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