2024-10-09T10:00:15-07:00 2023-12-31 461594234 Boggeln & Company Inc 215 1/2 Main Street Huntington Beach CA 92648 990 2023-01-01 330651131 HEARTHSTONE HOUSING FOUNDATION HEAR 9495539447 1401 Dove St Suite 620 Newport Beach CA 92660 SOCORRO VASQUEZ President 2024-10-09 true true CHERI L BOGGELN P00854324 7143747434 2023 2024-10-15 13:58:12Z 1401 Dove St Suite 620 Newport Beach CA 92660 1969898 false X hearthstonehousing.org X 1995 CA Hearthstone Housing Foundation is dedicated to providing service-enriched affordable housing for families of low income, the elderly and the disabled. Hearthstones charter also includes combating community deterioration to lessen the burdens of government. 5 4 5 10 0 0 1875393 1937186 196251 27819 0 2071644 1965005 162521 187312 0 827541 890942 0 0 440814 402183 1430876 1480437 640768 484568 35949184 47833370 31098009 42487655 4851175 5345715 X Hearthstone Housing Foundation is dedicated to providing service-enriched affordable housing for families of low income, the elderly and the disabled. Hearthstones charter also includes combating community deterioration to lessen the burdens of government. Our Mission is carried out by:-Partnering with private developers to build quality housing in areas of need-Coordinating property management and supportive services to promote self-sufficiency and independence for residents-Leveraging funds to increase the availability of affordable housing-Advocating on behalf of low income seniors, families and the disabled-Providing support for programs which promote the development of affordable housing-Offering academic scholarships to our residents and surrounding communities.Our Vision:Our vision is for all people to enjoy quality affordable housing regardless of their age or income, and that all persons have access to necessary services in order to maintain a self-sufficient and independent l false false 970231 1937186 ACQUISITION, DEVELOPMENT AND MANAGEMENT OF AFFORDABLE HOUSING PROPERTIES. 138169 138169 SCHOLARSHIP FUND TO OFFER ACADEMIC SCHOLARSHIPS TO OUR RESIDENTS AND SURROUNDING COMMUNITIES. 45643 45643 Helping Hands is a social service program that provides resources to residents that promote positive and healthy lifestyles. 3500 3500 1157543 true false false false false false false false false false true false true false true false false true false false false false false false false false false false true true false false false false false false false false false false false false true true false false false true 7 0 true 5 true false false false false false false false 0 false false false false false false false X 5 4 false false false false false false false true true false true true true true true true true true true true true true CA GA X ERIN WU 9495539447 1401 Dove St Suite 620 NEWPORT BEACH CA 92660 SOCORRO VASQUEZ President 60.00 0.00 X X 419000 0 77663 JUAN MALDONADO Treasurer & sec 0.25 0.00 X X 12500 0 0 MICHAEL HEMMENS Director 0.25 0.00 X 7500 0 0 VICTOR WU Vice President 0.25 0.00 X X 5500 0 0 TED E BEAN Director 0.25 0.00 X 5500 0 0 450000 77663 1 false true false 0 0 APPLICATION INCOME 531110 19000 19000 OTHER INCOME 531110 2103 2103 PROJECT INCOME 531390 1817475 1817475 RENTAL INCOME 531110 98608 98608 1937186 32712 32712 0 0 0 4893 -4893 -4893 -4893 0 0 0 0 1965005 1937186 27819 0 187312 187312 0 0 527663 477173 50490 0 288678 156803 131875 0 34769 16285 18484 39832 39832 0 9941 9941 47128 47128 0 0 0 27670 25445 2225 0 20603 2259 18344 14288 12145 2143 0 68667 55577 13090 42213 37532 4681 0 19490 19490 0 0 0 1158 1158 RENTAL EXPENSES FROM K-1 57570 57570 OTHER DEDUCTIONS FROM K-1 25105 25105 TAXES 12542 12542 SOCIAL SERVICE EXPENSE 11000 11000 44808 22916 21892 1480437 1157543 322894 0 4666596 5142970 69265 71448 0 703827 690318 0 0 0 0 1540 1550 30136 27439 3595 2697 0 0 30244861 41721783 0 259500 202604 35949184 47833370 153187 172857 30944822 42314798 31098009 42487655 X 4851175 5345715 4851175 5345715 35949184 47833370 X 484568 9972 X false true X true false X 0 1880245 1928274 2044614 1875393 1937186 9665712 0 0 0 1880245 1928274 2044614 1875393 1937186 9665712 0 14933 79567 100797 93928 68291 357516 14933 79567 100797 93928 68291 357516 9308196 6951 7485 7296 7371 32712 61815 0 6951 7485 7296 7371 32712 61815 0 0 1887196 1935759 2051910 1882764 1969898 9727527 0.95690 0.95910 0.00640 0.00380 X 30136 27439 2697 2697 41721783 LEASE LIABILITY 198925 NONRECOURSE DEBT FROM K-1 414714 RECOURSE DEBT FROM K-1 41701159 42314798 true 0 0 scholarshipS 63 138169 cash HELPING HANDS 1763 45643 FMV SCHOOL SUPPLIES HELPING HANDS 3500 cash Grantmaker's Description of How Grants are Used 1. SCHOLARSHIP POLICIES:THE ORGANIZATION'S EXTERNAL ACCOUNTANTS AND INTERNAL MANAGEMENT CLOSELY MONITOR THE FUND AND THE DISBURSEMENTS AS THEY ARE AWARDED. IN ADDITION, THE SCHOLARSHIP FUND IS REVIEWED AT EACH ANNUAL BOARD MEETING BY THE BOARD OF DIRECTORS. BOTH OF THESE PROCEDURES ARE USED TO ENSURE ALL DISBURSEMENTS ARE USED FOR THEIR INTENDED PURPOSES AND THAT THEY ARE NOT OTHERWISE DIVERTED FROM THEIR INTENDED USE.2. HELPING HANDS POLICIES:THE ORGANIZATION'S EXTERNAL ACCOUNTANTS AND INTERNAL MANAGEMENT CLOSELY MONITOR THE FUND AND THE DISBURSEMENTS. IN ADDITION, THE HELPING HANDS FUND IS REVIEWED AT EACH ANNUAL BOARD MEETING BY THE BOARD OF DIRECTORS. BOTH OF THESE PROCEEDURES ARE USED TO ENSURE ALL DISBURSEMENTS ARE USED FOR THEIR INTENDED PURPOSES AND THAT THEY ARE NOT OTHERWISE DIVERTED FROM THEIR INTENDED USE. X true true X X X X X false false false false false false false false false SOCORRO VASQUEZ President 335000 70000 14000 66000 11663 496663 Part I, Line 1a: Relevant information in regards to selections on 1a. THE ORGANIZATION PAYS THE PRESIDENT OF THE ORGANIZATION, SOCORRO VASQUEZ, $1,000 PER MONTH TO RENT AN OFFICE IN HER HOME KIRKLAND WASHINGTON. THE RENTAL OF THE OFFICE ALLOWS THE ORGANIZATION TO CONDUCT BUSINESS AND SERVICE THE RENTAL PROPERTIES WHICH ARE LOCATED IN WASHINGTON STATE. THE TOTAL RENTS PAID TO THE PRESIDENT DURING 2023 WERE $14,000 WHICH HAS BEEN INCLUDED IN SCHEDULE J part ii COLUMN B (III). Form 990, Part III, Line 4d OTHER PROGRAM SERVICES 4: Funds to Hawaii Community Foundation for relief and recovery for residents who were affected by the devastating wildfires on Maui and to American Heart Association to help fund lifesaving research, advocate for healthier communities, improve patient care, and work for equitable health for all people. Form 990, Part VI, Section B, Line 11b 1. Hearthstone Housing Foundations Audit and Finance Committee will receive a copy of the draft tax return prior to the filing due date (Nov 15).2. Upon review, changes and comments will be communicated by the Committee to the Executive Director and the Tax Preparer. Form 990, Part VI, Section B, Line 12c the organization regularly & consistently monitors and enforces compliance with the conflicts of interest policy through periodic reviews as addressed in Articles VIII and IX.Article VIII PERIODIC REVIEWS:To ensure that the Corporation operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as an organization exempt from federal income tax, periodic reviews shall be conducted. The periodic reviews shall, at a minimum include the following subjects:a) Whether compensation arrangements and benefits are reasonable and are the result of arm's-length bargaining.b) Whether financial transactions result in inurement or impermissible private benefit.c) Whether partnership and joint venture arrangements conform to written policies, are properly recorded, reflect reasonable payments for goods and services, further the Corporation's charitable purposes and do not result in inurement or impermissible private benefit.Article IX USE OF OUTSIDE EXPERTS:In conducting the periodic reviews provided for in Article VIII, the Corporation may, but need not, use outside advisors. If outside experts are used their use shall not relieve the Board of its responsibility for ensuring that periodic reviews are conducted. Form 990, Part VI, Section B, Line 15b The Board or committee shall gather and rely upon appropriate data as to comparability prior to making any determination as to whether a particular transaction will generate an excess benefit. Appropriate comparability data shall include:i. In the case of compensation or service agreements or transactions: examination of compensation levels paid by similarly situated organizations, whether or not tax-exempt, the functionality of comparable positions, the availability of similar services in the Corporation's geographic area, current compensation surveys compiled by independent firms and any written offers from similar institutions competing for the individual.ALSO, SEE DETAIL IN THE ANSWER TO LINE 12C REGARDING PERIODIC REVIEWS. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AND PROVIDES THEM TO THE PUBLIC UPON WRITTEN REQUEST. Form 990, Part XI, Line 9 Tax/gaap differences in amounts from K-1s = $9972 ADJUSTMENTS TO FUND BALANCE: THE ORGANIZATION HAS GENERAL PARTNERSHIP INTERESTS IN LIMITED PARTNERSHIPS AND IS A MANAGING MAMBER OF limited liability companies. THE K-1S USE TAX BASIS FOR INCOME/(LOSS) AND EXPENSE ITEMS, however, THE AUDITED FINANCIAL STATEMENTS ARE ISSUED ON CONSOLIDATED BASIS and The capital account is on GAAP Basis. As such, it causes an adjustment to fund balance as follows:FUND BALANCE AT 1/1/2023 4,851,175.2023 NET INCOME/LOSS 484,568.TAX/GAAP DIFFERENCES IN PARTNERSHIP INVESTMENTS 9,972.FUND BALANCE AT 12/31/2023 5,345,715. 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