Overview
What is Calhfa Homeowner Relief Corporation?
The Calhfa Homeowner Relief Corporation is a California-based not-for-profit organization established on April 13, 2021, by the California Housing Finance Agency (CALHFA). With a mission to alleviate the financial hardships of certain California homeowners, the Corporation aims to provide various forms of assistance to homeowners at risk of foreclosure due to adverse conditions created by the COVID-19 pandemic. Leveraging $1.06 billion in Housing Assistance Funds (HAF) from the U.S. Department of the Treasury under Section 3206 of the American Rescue Plan Act of 2021, the organization implements programs to help mitigate homeowners' financial struggles associated with the coronavirus pandemic.
Official website here: www.camortgagerelief.org
What are the reviews and ratings of this charity?
Calhfa Homeowner Relief Corporation is not currently rated by Charity Navigator due to an absence of comprehensive data required for an evaluation. Its previous ratings, mainly based on Accountability and Finance, cannot be assessed under new criteria without additional information. No immediate judgment of the organization's performance can be inferred from the lack of a current rating.
The organization is pending further evaluation through the Encompass Rating System, primarily due to only having one year of electronically-filed IRS Form 990 data. It operates independently, receiving significant support from government units or the public, indicating its reliance on substantial community or governmental input.
Calhfa Homeowner Relief Corporation's operational transparency is reflected partially through disclosed compensation of its key individuals, though many leadership capabilities and cultural strategies remain unassessed due to insufficient data. No user reviews from GreatNonprofits further contribute to understanding public sentiment or stakeholder feedback about the organization’s impact.
This AI summary has been generated from information found on Charity Navigator.
Is Calhfa Homeowner Relief Corporation legitimate?
Calhfa Homeowner Relief Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Calhfa Homeowner Relief Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.camortgagerelief.org
What is the mission statement of Calhfa Homeowner Relief Corporation?
The Calhfa Homeowner Relief Corporation was established as a California not-for-profit corporation by the California Housing Finance Agency (CalHFA) on April 13, 2021, with a goal to administer programs using $1.06 billion in housing assistance funds from the U.S. Department of the Treasury under Section 3206 of the American Rescue Plan Act of 2021. The corporation's mission is to provide various forms of assistance to homeowners in California who are at risk of foreclosure due to financial hardships caused by the coronavirus pandemic. These programs aim to mitigate the homeowners' financial struggles during these challenging times, helping them keep their homes and weather the economic impacts of the crisis.
Official website here: www.camortgagerelief.org
Who is the CEO of Calhfa Homeowner Relief Corporation?
Mr Erwin Tam is the Board Chair of Calhfa Homeowner Relief Corporation.
Official website here: www.camortgagerelief.org
What is the revenue of Calhfa Homeowner Relief Corporation?
Calhfa Homeowner Relief Corporation's revenue in 2022 was $243,260,963.
Official website here: www.camortgagerelief.org
Who are the executives of Calhfa Homeowner Relief Corporation and what are their salaries?
Here are 10 key members and their salaries:
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- Related: $148,728
- Other: $59,796
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- Related: $144,385
- Other: $75,658
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Official website here: www.camortgagerelief.org
Where can I find the form 990 for Calhfa Homeowner Relief Corporation?
Calhfa Homeowner Relief Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.camortgagerelief.org
Learn more at the official website: www.camortgagerelief.org
Mission Statement of Calhfa Homeowner Relief Corporation
Calhfa Homeowner Relief Corporation, established on April 13, 2021, is a California not-for-profit corporation brought to life by the California Housing Finance Agency (CalHFA). Its primary mission is to administer the California Mortgage Relief Program using a $1.06 billion grant from the U.S. Department of the Treasury under Section 3206 of the American Rescue Plan Act of 2021 (ARPA).
The Corporation's objective is to provide various forms of assistance to specific California homeowners at risk of foreclosure due to adverse conditions created by the COVID-19 pandemic. These programs, funded under the Housing Assistance Funds (HAF), are designed to mitigate homeowners' financial hardships resulting from the coronavirus pandemic. By implementing these programs, Calhfa Homeowner Relief Corporation aims to help California homeowners weather the economic storm and keep their homes.
In essence, Calhfa Homeowner Relief Corporation serves as a beacon of hope for homeowners facing financial struggles due to the pandemic. By utilizing the grant from the U.S. Department of the Treasury, the organization strives to alleviate the burden of financial hardship and ensure that homeowners can continue to provide shelter and stability for their families. Calhfa Homeowner Relief Corporation's tireless efforts in implementing these programs will undoubtedly make a significant difference in the lives of countless California homeowners.
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Impact
October, 2024
The CalHFA Homeowner Relief Corporation plays a critical role in alleviating the financial distress faced by California homeowners at risk of foreclosure due to the adverse effects of the COVID-19 pandemic. By administering the California Mortgage Relief Program, it provides various forms of assistance to those in need, directly targeting the challenges posed by economic disruptions.
Since its establishment on April 13, 2021, the Corporation has leveraged $1.06 billion in housing assistance funds from the U.S. Department of the Treasury, specifically designed to mitigate the financial hardships associated with the pandemic. This support is vital for helping homeowners navigate their economic challenges, preventing foreclosures, and maintaining stability in the housing market.
The programs implemented under the Homeowner Relief Corporation not only provide immediate financial relief but also contribute to the overarching goal of economic recovery within the state, reinforcing community resilience during a time of unprecedented crisis. Through its targeted assistance initiatives, the Corporation plays a pivotal role in safeguarding homeownership and fostering financial stability for countless families across California.
This information is meant to be a general summary of Calhfa Homeowner Relief Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $744,741
- Gross Receipts: $243,260,963
Assets and Liabilities:
- Total Assets: $814,979,661
- Total Liabilities: $814,978,661
- Net Assets: $1,000
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Organization Details
Founding Year
2021
Phone
(916) 326-8653Principal Officer
Mr Erwin Tam
Main Address
500 CAPITOL MALL 1400, SACREMENTO, CA, 95814
Website
www.camortgagerelief.orgNTEE Category
Code: W20 - Public benefit
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