Midpen Housing Corporation
71% goes to programs $0 to raise $100 Strong reserves
Midpen Housing Corporation is a 501(c)(3) organization based in Foster City, California, registered in 1971, with $55,697,583 in FY2023 revenue. CharityIndex grades it B+, and it directs about 71% of spending to programs.
303 Vintage Park Dr Ste 250, Foster City, CA, 94404 EIN 23-7089977 Since 1971
Revenue (FY2023)
$55.7M
▼ 10.2% vs prior year
Housing median: $408K
Expenses (FY2023)
$36.5M
Net assets
$286.4M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
BProgram efficiency40% of the rating71% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Midpen Housing Corporation: 71% to programs · $0 to raise $100 earns a B on this criterion. See the exact thresholds →
B+Financial health25% of the rating94 mo reserves · +35% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Midpen Housing Corporation: 94 mo reserves · +35% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Midpen Housing Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Midpen Housing Corporation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
In conjunction with related organizations, midpen housing corporation's mission is to provide safe, affordable housing of high quality to those in need; to establish stability and opportunity in the lives of residents; and to foster diverse communities that allow people from all ethnic, social and economic backgrounds to live in dignity, harmony, and mutual respect.
Contact & location
- Address
- 303 Vintage Park Dr Ste 250, Foster City, CA, 94404
- City
- Foster City
- State
- California
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $13.7M (FY2013) to $55.7M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $52.6MNet assets $286.4M
Operating margin
34.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$339.1M
Total liabilities
$52.6M
Net assets
$286.4M
Salaries & benefits
$19.1M
52% of expenses
Board members
13
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $55,697,583▼10.2% | $36,466,328▼4.8% | $286,415,657▲11.2% | $339,062,142▲11.7% | 990 |
| 2022 | $62,012,587▲21.7% | $38,296,668▲70.6% | $257,650,568▲5.6% | $303,587,001▲8.8% | 990 |
| 2021 | $50,937,724▼21.9% | $22,454,295▼10.3% | $243,929,625▲15.8% | $279,122,902▲16.0% | 990 |
| 2020 | $65,229,137▲41.8% | $25,042,306▲22.9% | $210,657,637▲25.7% | $240,705,920▲28.6% | 990 |
| 2019 | $45,987,695▲82.0% | $20,382,885▲7.1% | $167,530,454▲20.2% | $187,155,719▲21.1% | 990 |
| 2018 | $25,272,018▼18.9% | $19,039,876▲10.2% | $139,366,250▲3.6% | $154,540,527▲5.3% | 990 |
| 2017 | $31,164,397▲80.8% | $17,278,298▲16.1% | $134,543,329▲13.6% | $146,724,719▲12.7% | 990 |
| 2016 | $17,238,022▼9.7% | $14,879,148▲14.7% | $118,452,485▲2.8% | $130,196,528▲3.0% | 990 |
| 2015 | $19,086,482▼14.6% | $12,968,237▲13.5% | $115,248,687▲5.2% | $126,422,249▲6.0% | 990 |
| 2014 | $22,346,844▲62.6% | $11,421,546▲23.7% | $109,568,867▲11.6% | $119,238,472▲9.8% | 990 |
| 2013 | $13,746,362 | $9,231,895▲9.7% | $98,186,580▲4.8% | $108,586,992▲6.6% | 990 |
| 2012 | — | $8,416,192▲0.7% | $93,688,147▲4.0% | $101,893,808▲3.6% | 990 |
| 2011 | — | $8,361,397 | $90,090,066 | $98,376,011 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Beth Bartlett | Director | 2 | — |
| Chan U Lee | Director | 2 | — |
| Elisa De Laet Jagerson | Director | 2 | — |
| Enrique Torres | Treasurer | 2 | — |
| Eric Harrison | Chairperson | 2 | — |
| Fay Sien Goon | Director | 2 | — |
| Gina Diaz | Secretary | 2 | — |
| Janine Lind | Coo / Assistant Secretary | 24.5 | — |
| Jennifer Hicks | Director | 2 | — |
| Jennifer Martinez | Director | 2 | — |
| Jessica Garcia-kohl | Vice Chairperson | 2 | — |
| Kasey Archery | Assistant Secretary | 0.1 | — |
| Lance Smith | Vp/corp. Counsel & Broker/asst. Secretary | 35 | — |
| Matthew O Franklin | Ceo/president/asst. Secretary | 25 | — |
| Michael J Vergura | Cfo / Assistant Secretary | 25 | — |
| Renee Mcdonnell | Director | 2 | — |
| Rob Hollister | Director | 2 | — |
| Shwetha Subramanian | Credo / Assistant Secretary | 44.8 | — |
| Terry Freeman | Director | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Xantrion Inc | Data Storage/it Service | $612,985 |
| Lindquist Von Husen & Loyce LLP | Outsource Accounting Service | $355,625 |
| Van Meter Williams Pollack LLP | Architectural Service | $207,669 |
| Realpage Inc | Outsource Accounting Service | $167,589 |
| Connecting Healthcare | Consulting Service For Hipaa | $142,500 |
Grants received · $2.1M total
8 grants to Midpen Housing Corporation totaling $2.1M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Local Initiatives Support Corporation | See part iv | 2024 | $50,000 |
| Leonard & Beryl Buck Foundation | Support the acquisition and preservation of an 80-unit affordable housing rental property in fairfax | 2023 | $1,600,000 |
| Silicon Valley Community Foundation | Health | 2022 | $200,000 |
| American Online Giving Foundation Inc | General support | 2022 | $25,010 |
| American Online Giving Foundation Inc | General support | 2021 | $25,000 |
| San Francisco Foundation | Advised - for permanent supportive housing. | 2020 | $150,000 |
| Enterprise Community Partners Inc | Capacity building | 2016 | $30,953 |
| Enterprise Community Partners Inc | Capacity building | 2015 | $49,865 |
Grants made · $7.7M in FY2023
13 grants totaling $7.7M in FY2023. All grants made by Midpen Housing Corporation →
| Recipient | Purpose | Amount |
|---|---|---|
| Community Revitalization and Development Corp | Passthrough grant for 3rd party of iig grant | $2,153,300 |
| Mid-peninsula Pickering Inc | Related to sherwood oaks mc grant | $1,600,000 |
| 5th and Mendocino Partners Owner LLC | Passthrough grant for 3rd party of iig grant | $1,573,988 |
| Mid-peninsula Baker Park Inc | Related to iran d. hall dev fee contribution | $1,246,536 |
| Mid-peninsula Half Moon Bay Inc | Related to gateway rising | $831,438 |
| Midpen Resident Services Corporation | For acap fund $60k and midway donation $42k | $101,667 |
| Midpen Resident Services Corporation | Related to hud grant (moon gate) | $85,480 |
| Housing California | For annual donation | $13,500 |
| Non-profit Housing Association of Northern California | For annual donation | $12,500 |
| New Way Homes Inc | For annual donation | $10,000 |
| Housing Leadership Council of San Mateo County | For annual donation | $9,300 |
| Community Economics Inc | For annual donation | $7,600 |
| California Housing Consortium | For annual donation | $7,500 |
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Frequently asked questions
- Is Midpen Housing Corporation a legitimate nonprofit?
- Yes. Midpen Housing Corporation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-7089977, based in Foster City, California. Donations are tax-deductible.
- What is Midpen Housing Corporation's EIN?
- Midpen Housing Corporation's Employer Identification Number (EIN) is 23-7089977.
- How much revenue does Midpen Housing Corporation report?
- Midpen Housing Corporation reported $55,697,583 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Midpen Housing Corporation's spending goes to programs?
- Midpen Housing Corporation spends about 71% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Midpen Housing Corporation have?
- CharityIndex grades Midpen Housing Corporation B+, based on program efficiency and fundraising cost.
- How much does Midpen Housing Corporation's highest-paid employee make?
- The highest reported compensation on Midpen Housing Corporation's latest Form 990 is $0, paid to Beth Bartlett (Director).
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Data for Midpen Housing Corporation (EIN 23-7089977) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.