2024-11-14T18:30:29-05:00 2023-12-31 931178074 RICHARD R HARRIS CPA 5257 NE MARTIN LUTHER KING PORTLAND OR 97211 990 2023-01-01 943168146 SABIN COMMUNITY DEVELOPMENT CORP SABI 5032873496 1488 NE ALBERTA STREET PORTLAND OR 97211 MARY SCHOEN-CLARK EXECUTIVE DIRECTOR 5032873496 2024-11-14 true false RICK HARRIS P00957412 5032802030 2024-11-14 2023 2024-10-15 13:58:12Z MARY SCHOEN-CLARK 1488 NE ALBERTA STREET PORTLAND OR 97211 1718523 false X SABINCDC.ORG X 1992 OR TO PRESERVE AND IMPROVE LIVABILITY FOR ALL RESIDENTS OF THE CULTURALLY DIVERSE NEIGHBORHOODS OF INNER NORTH/NORTHEST PORTLAND BY ASSURING THE AVAILABILITY OF LONG-TERM AFFORDABLE HOUSING FOR ITS LOW AND MODERATE INCOME RESIDENTS. 7 7 22 45 0 377086 391239 2418614 1317195 2443 10089 0 2798143 1718523 0 0 664545 800485 0 19681 605444 942956 1269989 1743441 1528154 -24918 10550295 10287107 4287927 3629920 6262368 6657187 X TO PRESERVE AND IMPROVE LIVABILITY FOR ALL RESIDENTS OF THE CULTURALLY DIVERSE NEIGHBORHOODS OF INNER NORTH/NORTHEST PORTLAND BY ASSURING THE AVAILABILITY OF LONG-TERM AFFORDABLE HOUSING FOR ITS LOW AND MODERATE INCOME RESIDENTS. false false 1064911 1100195 HOUSING AND PROPERTY MANAGEMENT - ASSIST IN RETAINING A DIVERSE COMMUNITY IN NE PORTLAND NEIGHBORHOODS THAT HAVE BEEN ERODED BY GENTRIFICATION OVER THE PAST 30 YEARS. SABIN PROVIDES AFFORDABLE HOUSING FOR PRIMARILY AFRICAN AMERICAN HOUSEHOLDS, MOST OF WHOM WOULD HAVE BEEN DISPLACED WITHOUT ACCESS TO AFFORDABLE HOUSING; RETAINING THESE HOUSEHOLDS IN THEIR HOMES TO GROW, THRIVE, AND, ULTIMATELY, AGE IN PLACE IS VITALLY IMPORTANT TO THE NEIGHBORHOODS. SABIN OWNS AND MANAGES 117(STUDIO-4BEDROOM) UNITS OF AFFORDABLE RENTAL HOUSING AND WORKS WITH 13 LAND TRUST HOMEOWNERS, AND 9 LIMITED EQUITY LEASE PURCHASE HOMEOWNERS. 489712 601063 DEVELOPMENT - SABIN FINANCES AND MANAGES CONSTRUCTION OF AFFORDABLE APARTMENT COMMUNITIES FOR LOW-INCOME FAMILIES, SENIORS AND PEOPLE WITH DISABILITIES. DURING 2023 SABIN COMPLETED DEVELOPMENT OF ITS FIRST LOW- INCOME TAX CREDIT FINANCED DEVELOPMENT HARVEY RICE HERITAGE LP, WHICH IS COMPRISED OF 2 SEPARATE BUILDINGS, WITH 41 COMBINED UNITS. THE PROJECT'S TOTAL COST IS APPROXIMATELY 17 MILLION. THE INITIAL LEASE-UPS BEGAN IN NOVEMBER. 14697 17262 COMMUNITY ORGANIZING - WORKING WITH AMERICORPS NCCC AND STUDENTS THROUGH LOCAL COLLEGES AND JOBS PROGRAMS TO SUPPORT BOTH CURRENT ORGANIZATIONAL ACTIVITIES AND TO HELP THE FUTURE GENERATIONS UNDER SABIN'S ROLE IN NE PORTLAND TO MAINTAIN SOCIALLY JUST, ECONOMICALLY VIABLE AND DIVERSE NEIGHBORHOODS. SABIN WORKS TO CREATE A SENSE OF BELONGING BETWEEN OUR RESIDENTS AND WITH THE NEIGHBORHOOD BY PROVIDING GREEN SPACES AND GARDENS. 1569320 true true false false false false false false false false true false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 22 22 22 false false false false false false false false false X 7 7 false false false false false false false true true false false false true true true true true true false false OR X MARY SCHOEN-CLARK 5032873496 1488 NE ALBERTA STREET PORTLAND OR 97211 X ALEX ALEEMAN CHAIR OF FIN X 0 0 0 SAMUAEL COLE BOARD CHAIR X 0 0 0 JUSTIN REEVES MEYER DIRECTOR X 0 0 0 DORIS STEVENSON DIRECTOR X 0 0 0 JULI WRIGHT DIRECTOR X 0 0 0 JILIAN SAURAGE FELTON TREASURER X 0 0 0 ROBYN HARRIS FORD SECRETARY X 0 0 0 HARVEY RICE DIRECTOR X 0 0 0 false false false 319639 71600 391239 RENTAL INCOME 519501 519501 MANAGEMENT FEES 422716 422716 INTEREST 217794 217794 DEVELOPER FEES 106512 106512 PARTNERSHIP MANAGEMENT FEES 20054 20054 30618 30618 1317195 10089 10089 1718523 1317195 10089 691264 597014 78060 16190 53110 45869 5997 1244 56111 48461 6336 1314 337000 337000 9128 9128 34739 34739 34867 34867 18441 13406 4703 332 6661 6195 466 73649 73649 143963 143963 70294 64670 5624 REPAIRS & MAINTENANCE 76096 76096 UTILITIES 72185 69659 2526 MISCELLANEOUS EXPENSES 17354 12495 4859 LANDSCAPE MAINTENANCE 16034 16034 32545 29942 2002 601 1743441 1569320 154440 19681 72530 63664 1789662 1796785 24721 26655 194679 414160 100488 101565 5636338 3162517 2570475 2473821 4053425 4110680 13033 16910 1731282 1282867 10550295 10287107 242366 416621 3964737 3172506 80824 40793 4287927 3629920 X 6262368 6657187 6262368 6657187 10550295 10287107 -24918 419737 X false false X 29354 28962 1655928 377086 391239 2482569 909655 977752 2201724 2418614 1317195 7824940 939009 1006714 3857652 2795700 1708434 10307509 10307509 6882 9077 2515 2443 10089 31006 6882 9077 2515 2443 10089 31006 945891 1015791 3860167 2798143 1718523 10338515 0.99700 0.96980 0.00000 0.00000 X PART III, LINE 12 INSURANCE PROCEEDS 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 515231 515231 4994200 3098565 1895635 126907 63952 62955 2473821 DUE FROM HARVEY RICE HERITAGE LP 3362273 C INVESTMENT IN SINGLE ASSET ENTITIES 748407 C 4110680 DEVELOPMENT FEE RECEIVABLEL 625000 INTEREST RECEIVABLE 397485 DISTRIBUTIONS RECEIVABLE 227371 PARTNERSHIP ADMIN FEE RECEIVABLE 21721 OTHER RECEIVABLES 5687 PROPERTY MGMT FEE RECEIVABLE 5603 1282867 SECURITY DEPOSITS 37749 PREPAID RENTS 3044 40793 FORM 990 - ORGANIZATION'S MISSION TO PRESERVE AND IMPROVE LIVABILITY FOR ALL RESIDENTS OF THE CULTURALLY DIVERSE NEIGHBORHOODS OF INNER NORTH/NORTHEST PORTLAND BY ASSURING THE AVAILABILITY OF LONG-TERM AFFORDABLE HOUSING FOR ITS LOW AND MODERATE INCOME RESIDENTS. FORM 990, PAGE 6, PART VI, LINE 11B THE EXTERNAL ACCOUNTING FIRM PREPARES THE FORM 990 AND SUPPLEMENTAL SCHEDULES AS SOON AS POSSIBLE AND FORWARDS A DRAFT OF THE RETURN TO THE EXECUTIVE DIRECTOR AND GOVERNING BOARD FOR REVIEW. THE EXECUTIVE DIRECTOR RECEIVES ALL BOARD MEMBERS' COMMENTS (IF ANY) AND RELAYS THEM TO THE CPA FIRM FOR ANSWERS. ONCE THE EXECUTIVE DIRECTOR AND BOARD HAS APPROVED THE 990 AND SUPPLEMENTAL SCHEDULES INSTRUCTIONS ARE GIVEN TO THE EXTERNAL ACCOUNTING FIRM TO PREPARE A FINAL VERSION OF THE RETURN FOR SIGNATURE OR ELECTRONIC FILING. THE EXECUTIVE DIRECTOR RECEIVES AN ELECTRONIC COPY OF THE RETURN FOR RECORD KEEPING. EVER EFFORT WILL BE MADE TO FILE THE RETURN IN A TIMELY MANNER WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C 1.CONTRACTS, TRANSACTIONS, OR ARRANGEMENTS OF THE ORGANIZATION IN WHICH A DIRECTOR OR EMPLOYEE HAS A DIRECT OR INDIRECT FINANCIAL OR OTHER MATERIAL INTEREST SHALL NOT BE PROHIBITED, BUT THEY SHALL BE SUBJECT TO SCRUTINY. ANY SUCH PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT (COLLECTIVELY, "ARRANGEMENT") IS TO BE REVIEWED TO DETERMINE THAT IT IS IN THE BEST INTEREST OF THE ORGANIZATION. 2.FOR THE PURPOSE OF THIS POLICY, A DIRECTOR OR EMPLOYEE HAS A DIRECT OR INDIRECT FINANCIAL OR OTHER MATERIAL INTEREST IN A PROPOSED OR EXISTING ARRANGEMENT IF HE OR SHE, OR ONE OF HIS OR HER RELATIVES: A)HAS A SUBSTANTIAL FINANCIAL INTEREST DIRECTLY IN THE PROPOSED OR EXISTING ARRANGEMENT; OR B)HAS A SUBSTANTIAL FINANCIAL INTEREST IN ANY OTHER ORGANIZATION THAT I ( IS A PARTY TO THE PROPOSED OR EXISTING ARRANGEMENT; ) OR II ( IS IN ANY WAY INVOLVED IN THE PROPOSED OR EXISTING ARRANGEMENT, INCLUDING THROUGH THE PROVISION OF SERVICES IN CONNECTION THEREWITH (AN "INVOLVED ORGANIZATION"); OR C)HOLDS A POSITION AS TRUSTEE, DIRECTOR, OFFICER, MEMBER, PARTNER, OR EMPLOYEE IN ANY SUCH PARTY OR INVOLVED ORGANIZATION. A DIRECTOR'S OR EMPLOYEES' FINANCIAL INTEREST WILL BE CONSIDERED SUBSTANTIAL IF IT INVOLVES: A)AN OWNERSHIP OR INVESTMENT INTEREST REPRESENTING MORE THAN 1% OF THE OUTSTANDING SHARES OF A PUBLICLY TRADED COMPANY OR 5% OF THE OUTSTANDING SHARES OR COMPARABLE INTEREST OF A PRIVATELY OWNED COMPANY WITH WHICH THE ORGANIZATION HAS OR IS NEGOTIATING AN ARRANGEMENT OR WHICH IS AN INVOLVED ORGANIZATION WITH RESPECT TO THE ARRANGEMENT; OR B)AN OWNERSHIP OR INVESTMENT INTEREST, WHICH PRODUCES A SIGNIFICANT AMOUNT OF INCOME FOR OR CONSTITUTES A SIGNIFICANT PART OF THE NET WORTH OF THE DIRECTOR OR EMPLOYEE, OR A RELATIVE OF THE DIRECTOR OR EMPLOYEE, IN ANY ENTITY WITH WHICH THE ORGANIZATION HAS OR IS NEGOTIATING AN ARRANGEMENT OR WHICH IS AN INVOLVED ORGANIZATION WITH RESPECT TO THE ARRANGEMENT; OR C)A COMPENSATION ARRANGEMENT OF ANY KIND WITH ANY ENTITY OR INDIVIDUAL WITH WHICH THE ORGANIZATION HAS OR IS NEGOTIATING AN ARRANGEMENT OR WITH ANY INVOLVED ORGANIZATION WITH RESPECT TO THE ARRANGEMENT. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR'S SALARY IS REVIEWED ANNUALLY AS PART OF THE BUDGETING PROCESS. THE BOARD CHAIR ALONG WITH THE EXECTIVE DIRECTOR PERFORMS THE ANNUALREVIEW BASED ON GOALS AND CRITERIA ESTABLISHED PREVIOUSLY. ANY ADJUSTMENTSTO COMPENSATION IS BASED UPON PERFORMANCE AND FINANCIAL CAPACITY TO DO SO. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST.