Nonprofit · EIN 45-2458485
USA HOMEOWNERSHIP FOUNDATION INC
Also known as Veterans Assoaciation of Real Estate Professionals
Tax-exempt · CORONA, CA 92879
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $4,527,526 | $5,564,209 | -$1,036,683 | $1,732,279 | $1,422,397 | $309,882 |
| December 31, 2024 | 990 | $5,472,779 | $6,045,043 | -$572,264 | $2,784,543 | $1,437,978 | $1,346,565 |
| December 31, 2023 | 990 | $5,837,779 | $6,821,958 | -$984,179 | $2,485,990 | $567,161 | $1,918,829 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $2,646,653
- Membership dues
- $104,423
- Program service revenue
- $2,129,939
- Investment income
- $0
- Net income from fundraising events
- -$249,066
- Other revenue
- -$249,066
Expenses
- Grants and similar amounts paid
- $974,273
- Compensation of officers, directors and key employees
- $22,400
- Other salaries and wages
- $910,535
- Salaries, compensation and benefits (total)
- $932,935
- Professional fundraising fees
- $0
- Occupancy
- $100,525
- Travel
- $71,189
- Depreciation
- $4,365
- Program services (functional)
- $4,471,019
- Management and general (functional)
- $877,221
- Fundraising (functional)
- $215,969
Balance sheet and other
- Total assets, start of year
- $2,784,543
- Total assets, end of year
- $1,732,279
- Total liabilities, end of year
- $1,422,397
- Net assets, end of year
- $309,882
- Land, buildings and equipment
- $2,155
- Net assets without donor restrictions
- $309,882
- Gross receipts
- $5,142,512
- Employees
- 22
- Volunteers
- 300
- Year formed
- 2011
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Carla Lemon | Secretary Trustee or director, Officer | 40 | $29,165 |
| Christine Olfus | Director Trustee or director | 1 | $22,400 |
| Son Nguyen | President Trustee or director, Officer | 40 | $0 |
| Sandy Heath | Treasurer Trustee or director | 1 | $0 |
| Pat Diomede | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Carla Lemon | Secretary Trustee or director, Officer | 40 | $69,996 |
| Son Nguyen | President Trustee or director, Officer | 40 | $42,500 |
| Christine Olfus | Director Trustee or director | 1 | $38,716 |
| Sandy Heath | Treasurer Trustee or director | 1 | $0 |
| Pat Diomede | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSE F LABIAS RAMIREZ | IT Director | 40 | $110,000 |
| Son Nguyen | President Trustee or director, Officer | 40 | $100,000 |
| Carla Lemon | Secretary Trustee or director, Officer | 40 | $45,000 |
| Christine Olfus | Director Trustee or director | 1 | $5,927 |
| Sandy Heath | Treasurer Trustee or director | 1 | $0 |
| Pat Diomede | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 495 E RINCON ST STE 110, CORONA, CA 92879-1301
- In care of
- % SON NGUYEN
- Mailing address (990-N for 2012)
- 462 Corona Mall Suite 102, Corona CA 92879
- Principal officer (990 for 2025)
- Son Nguyen, 495 E Rincon St 110, Corona, CA 92879
- Principal officer (990-N for 2012)
- Son Nguyen, 1648 Rivendel Drive, Corona CA 92883
- Signed the 990
- Son Nguyen, President
- Phone
- (951) 870-0369
- Website
- www.varep.net
- Return prepared by
- Tellees
California records
California keeps its own records of charities and corporations. Search them by EIN 45-2458485 or by the name USA HOMEOWNERSHIP FOUNDATION INC.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
To improve the lives of service members and veterans through education, housing, and philanthropy.
Program accomplishments
- The organization developed and rehabilitated homes and sold at a discounted purchase price to active duty military and veterans. In addition, the organization paid the escrow fees and other expenses during the rehabilitation period.Expenses $2,603,274 · grants $1,163,600 · revenue $1,618,230
- The organization rehabilitated 2 properties and donated them mortgage free to a veteran.Expenses $1,096,149
- Planned and sponsored a policy conference and a national conference, in addition to other events. Through the conferences educational information, awareness and training was provided to real estate professionals, active military and veterans about the resources available to facilitate home ownership, including the VA home loan program.Expenses $528,551 · revenue $25,070
- The organization provided mortgage loans to veteransExpenses $160,116 · revenue $476,803
- The organization's HUD approved counseling program provided financial and homeownership mentoring and counseling to veterans. In addition, the HELP program provided information to veterans and active duty military about home ownership opportunities and the VA loan program.Expenses $75,524 · revenue $8,621
- Provided information and education to real estate professionals about VA loans and home ownership opportunities.Expenses $7,405 · revenue $1,215
- The Organization set up a new entity; VETCARES INC to be responsible for all the philanthropic activities of the Group such as SDP, Campcares and individual awards
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-2458485
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2012
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P51)
- Assets (IRS master file)
- $1,732,279
- Income (IRS master file)
- $5,142,512
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $4,527,526 | $5,564,209 | $1,732,279 | XML |
| 990 | December 2024 | $5,472,779 | $6,045,043 | $2,784,543 | XML |
| 990 | December 2023 | $5,837,779 | $6,821,958 | $2,485,990 | XML |
| 990 | December 2022 | $5,441,843 | $6,491,853 | $3,434,411 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2012 Officer: Son Nguyen | December 31, 2012 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-2458485).
Questions about USA HOMEOWNERSHIP FOUNDATION INC
- What is the EIN of USA HOMEOWNERSHIP FOUNDATION INC?
- The employer identification number (EIN) of USA HOMEOWNERSHIP FOUNDATION INC is 45-2458485.
- Is USA HOMEOWNERSHIP FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2012.
- Are donations to USA HOMEOWNERSHIP FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does USA HOMEOWNERSHIP FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of USA HOMEOWNERSHIP FOUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did USA HOMEOWNERSHIP FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of USA HOMEOWNERSHIP FOUNDATION INC?
- The 990 for the year ended December 31, 2025 names Son Nguyen.
- Who are the officers and directors of USA HOMEOWNERSHIP FOUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 5 people; 2 received compensation from the organization, the highest $29,165 (Carla Lemon, Secretary).
- How much revenue does USA HOMEOWNERSHIP FOUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $4,527,526, expenses of $5,564,209 and total assets of $1,732,279 at year end.
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