Overview
What is Car Housing Affordability Fund?
The Car Housing Affordability Fund, an initiative under the California Association of Realtors, is a nonprofit organization dedicated to addressing the housing affordability crisis in California. They achieve this by raising and distributing funds and collaborating with other groups to promote housing and homeownership. In 2022, they provided grants totaling $150,000 to local associations to enhance affordable homeownership opportunities in their communities. Additionally, their Closing Cost Assistance Grant Program offered assistance of up to $10,000 to low-to-moderate income first-time homebuyers who are members of an "underserved community," thereby helping bridge the affordability gap. These grants are provided by the California Realtor to qualified first-time California homebuyers.
Official website here: www.car.org
Is Car Housing Affordability Fund legitimate?
Car Housing Affordability Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Car Housing Affordability Fund 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:
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For more financial information, click here
Official website here: www.car.org
What is the mission statement of Car Housing Affordability Fund?
The Car Housing Affordability Fund is actively involved in addressing the housing affordability crisis. Its primary mission is to raise and distribute funds, partnering with other groups, to promote housing and homeownership opportunities. The California Association of Realtors' Housing Affordability Fund granted a total of $1,149,999 in 2022 to support local associations' efforts to increase affordable housing opportunities in their communities. Additionally, the fund's Closing Cost Assistance Grant Program provided up to $10,000 in aid to first-time homebuyers from underserved communities, helping them bridge the affordability gap by covering closing costs. During 2022, the fund also made grants totaling $150,000 to support local associations' initiatives for affordable homeownership opportunities.
Official website here: www.car.org
Who is the CEO of Car Housing Affordability Fund?
Carol M Luckenbach is the Chair of Car Housing Affordability Fund.
Official website here: www.car.org
What is the revenue of Car Housing Affordability Fund?
Car Housing Affordability Fund's revenue in 2022 was $490,129.
Official website here: www.car.org
Who are the executives of Car Housing Affordability Fund and what are their salaries?
There 39 volunteers at Car Housing Affordability Fund.
Here are 17 key members and their salaries:
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Official website here: www.car.org
Where can I find the form 990 for Car Housing Affordability Fund?
Car Housing Affordability Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.car.org
Learn more at the official website: www.car.org
Mission Statement of Car Housing Affordability Fund
The Car Housing Affordability Fund, an initiative led by the California Association of Realtors, is actively engaged in addressing the housing affordability crisis in California. Their mission involves raising and distributing funds, as well as collaborating with other organizations, to promote housing and homeownership. This nonprofit organization plays a significant role in supporting local associations' efforts to create more affordable homeownership opportunities in various communities across the state. Additionally, they provide closing cost assistance to qualified first-time homebuyers who are part of underserved communities, helping them bridge the affordability gap by offering up to $10,000 in assistance. In 2022, the Car Housing Affordability Fund made grants totaling $150,000 to local associations to boost affordable homeownership opportunities, and through their Closing Cost Assistance Grant Program, they offered $999,999 in assistance to first-time homebuyers to help them achieve their dream of homeownership.
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Impact
October, 2024
The Car Housing Affordability Fund significantly impacts housing accessibility by providing grants that enhance affordable homeownership opportunities in California. In 2022, the Fund allocated a total of $1,149,999 to support local initiatives aimed at increasing access to homeownership. This included $150,000 directed toward local associations working to create more affordable housing solutions.
One of the Fund's critical offerings is the closing cost assistance program, which distributed $999,999 to first-time homebuyers from underserved communities. These grants of up to $10,000 assist low-to-moderate income individuals (earning up to 120% of the area median income) in overcoming financial barriers associated with closing costs. By partnering with real estate professionals, the Fund not only facilitates home purchases but also promotes economic stability within communities.
Through these efforts, the Car Housing Affordability Fund actively addresses the ongoing housing affordability crisis in California, striving to make homeownership a viable reality for more individuals and families.
This information is meant to be a general summary of Car Housing Affordability Fund. 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: $51,874
- Gross Receipts: $509,702
Assets and Liabilities:
- Total Assets: $1,619,380
- Total Liabilities: $104,560
- Net Assets: $1,514,820
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Organization Details
Founding Year
2001
Phone
(213) 739-8200Principal Officer
Carol M Luckenbach
Main Address
525 SOUTH VIRGIL AVENUE, LOS ANGELES, CA, 90020
Website
www.car.orgNTEE Category
Code: L99 - Housing
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