Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Eden Housings mission is to build and maintain high-quality well-managed service-enhanced affordable housing communities that meet the needs of lower income families seniors and persons with disabilities. annual report 2015 Eden Housing A Healthy Place to Live Work Grow and Succeed 2 A H E A LT H Y P L A C E T O W O R K At Eden Housing we believe that our work isnt just about investing in affordable homes its about investing in the people who live and work in them. Our staff takes pride in delivering on our promise to create high-quality well-managed service-enhanced affordable housing communities across California. Each person is key to our success allowing us to serve more than 22000 low-income families seniors and special needs residents. Each day we see the impact of our work when our families have a safe place to raise their children and our seniors and disabled residents have a place to live independently with dignity and a sense of community. We celebrate our residents successes and their chance to follow their dreams with support from our scholarships financial literacy classes technology trainings and other programs. We are proud of our team and are committed to their professional growth and job satisfaction. Eden provides the latest in online learning and has built a robust individualized training curriculum using the best resources available. This hard work resulted in a 2015 Healthiest Employer Award from the San Francisco Business Times and a 2015 Best Places to Work Award from the San Francisco Business Times and the Silicon Valley Business Journal. We were also named one of the Top 50 Affordable Housing Owners in the United States. A major highlight of our year was our official affiliation with NeighborWorks America. Through this partnership Eden gains support in developing more affordable housing our residents benefit from programs such as the Community Leadership Initiative and we are able to share best practices with nonprofit peers across the country. We are pleased to report on another year of substantial accomplishments. In the continually shifting landscape of affordable housing we know that your support partnership and investment have been critical to our success. Sincerely Nicholas Randall CHAIR EDEN HOUSING BOARD OF DIRECTORS Linda Mandolini PRESIDENT EDEN HOUSING a healthy place to work a healthy place to grow Eden Housing and NeighborWorks America Working Together for Strong Communities grows our capacity to promote community building and engagement resident self-sufficiency healthy homes and neighborhoods and green innovation. 7578269 kg.20 CO2 Saved Solar energy generated since July 2010 is more than 10554860 kilowatt hours. Water Conservation A new portfolio-wide initiative to educate our staff and residents has reduced our water consumption significantly. Partnership In 2015 we built acquired and preserved 873 affordable homes for more than 3000 residents. Development Name Apartment Homes Community Served CONSTRUCTION STARTED Camphora Soledad 44 FarmworkersFamilies Dublin Family Dublin 66 VeteransFamilies CONSTRUCTION COMPLETED Weinreb Place Hayward 22 Seniors Studio 819 Mountain View 49 Families ACQUISITIONSPRESERVATION Vista Terrace Hills San Ysidro 262 Families Coronado Terrace San Diego 312 Families Savannah at Southport West Sacramento 118 Families TOTAL HOMES 873 110 additional apartments are moderate-income or market-rate 4 A H E A LT H Y P L A C E T O L I V E a healthy place to live Groundbreaking for 66 Affordable Homes in Downtown Dublin Focusing on current-day needs for todays veterans These homes represent the gratitude of the people of Dublin for the service of the veterans who will live here and the hardships they endured. - COMMANDER SERGEANT MAJOR RICHARD KREIBERG U.S. ARMY RESERVE CAMP PARKS DUBLIN Veterans and Family Housing Farmworker Housing New Construction of 44 Affordable Homes Camphora Apartments Soledad Providing access to city water broadband connectivity and critical services Being able to live and work in the same area is a key component to building a stronger community. - CONGRESSMAN SAM FARR CALIFORNIA DISTRICT 20 AT THE CAMPHORA FARMWORKER HOUSING WALL RAISING Southern California Preservation of 574 Affordable Homes Coronado Terrace in San Diego and Vista Terrace Hills in San Ysidro Expanding to a new region to preserve housing for those most in need We are proud to partner with a quality organization like Eden to support these two communities and to open doors of opportunities for all of its residents. - KEN SAUDER WAKELAND PRESIDENT CEO West Sacramento 228 mixed income and affordable apartments Savannah at Southport Our first community in Sacramento with Housing Partnership Equity Trust We must build and preserve affordable housing in California to make room for those who work at our local grocery stores coffee shops schools restaurants and other neighborhood places that we value and enjoy. - LINDA MANDOLINI PRESIDENT A H E A LT H Y P L A C E T O L I V E 5 JOSHALEXANDER a healthy place to succeed Eden Housing recognizes the positive impact that a service-enriched community can have on residents health overall well-being and chance for success in life. Community Building National Night Out was celebrated at all Eden properties with 52 events and more than 4000 residents participating in activities to improve neighborhood safety. Scholarships Since 1993 Eden has awarded 330 scholarships totaling 455000 to help residents of all ages achieve their academic and career goals. 6 A H E A LT H Y P L A C E T O S U C C E E D Community Service Youth in our after school program distributed free books to 64 neighbors and gained valuable leadership skills. Communities Wired Our portfolio-wide initiative reduces the digital divide. 701 residents adopted broadband internet and 1195 residents attended educational workshops. Health Wellness We promote healthy aging in place access to wellness education healthy eating and active lifestyles. San Jose State University and Samuel Merritt University provide free on-site student nursing services. A H E A LT H Y P L A C E T O S U C C E E D 7 Eden Housing Financials Thank You to Our Supporters 22645 Grand Street Hayward CA 94541 510 582-1460 Printed on recycled paper with soy based ink CONSOLIDATED STATEMENTS OF FINANCIAL POSITION FOR EDEN HOUSING INC. AND SUBSIDIARIES JULY 1 2014 TO JUNE 30 2015 ASSETS Cash 29957190 Affiliates and Other Receivables 28447252 Notes Receivable 48975636 Investments-Partnerships and LLCs 447601 Development in Progress 7920163 Land and Fixed Assets 21547757 Other Assets 297043 Total Assets 137592643 LIABILITIES EQUITY Accounts Payable Accrued Liabilities 719705 Affiliate Payables 2219215 Notes and Interest Payables 31268636 Other Liabilities 221786 Total Liabilities 34429342 Fund Balance 103163301 Total Equity Liability 137592643 REVENUE Rental Revenue 2359131 Financial Revenue 2139735 Fee Revenue 5987669 Contributions and Grants 21521575 Other Revenue 524316 Total Revenue 32532426 Total Expenses 13050845 Net Surplus Deficit 19481581 COMMUNITY PARTNERS Alain McLaughlin Photography Applied Materials Inc. Corporate Giving Program Arthur J. Gallagher Co. Bank of America Berliner Cohen Attorneys at Law California Advanced Services Fund California American Exterminator California Housing Partnership Corporation Carroll Engineering Comerica Bank Community Economics Inc. Enterprise Community Partners First Sterling Financial Inc Hayward Area Historical Society HKIT Architects Home Depot Foundation Jones Hall M.E. Shay Co Mayers Architecture Neighborworks America Rockridge Geotechnical Inc. Segue Construction Inc. Seifel Consulting Sheppard Mullin Richter Hampton Silicon Valley Bank Stevens Ferrone Bailey Engineering Co. Inc. UBS Community Affairs Union Bank USBank Van Meter Williams Pollack WD Foundation Wells Fargo Bank INDIVIDUAL DONORS Barbara Bernstein Wilfred Cooper Sr. Hank and Joanne Deadrich Joseph F Dworkin Sylvia Ehrenthal Andrew and Sandra Faber John and Amy Gaffney Natalie Gubb Joyce Hiyama Glatt William and Kathleen Hamm James and Janet Kennedy Dan and Joan Lopez Linda McDaid Debra McKnight Higgins Andrea Osgood Joe Postigo Mike Pyatok Robert Rich Dennis Ryan Tim Silva James Snow John and Sharon Tastor William and Rita Vandenburgh Pauline Weaver Ilene Weinreb Calvin Whitaker Janice Woycheshin Board of Directors Nicholas Randall Chair Janet Lockhart Vice Chair Jim Kennedy Treasurer Kathleen K. Hamm Secretary John Gaffney Director Doug Kuerschner Director Grace Li Director Joe Postigo Director Timothy Reilly Director Timothy L. Silva Sr. Director Pauline Weaver Director Ilene Weinreb Director Calvin Whitaker Director William Vandenburgh Director Emeritus Ilene Weinreb Eden Board member for 30 years at the grand opening of Weinreb Place