2025-03-14T08:58:38-05:00 2024-06-30 330310569 HASKELL & WHITE LLP 300 SPECTRUM CENTER DRIVE STE 300 IRVINE CA 92618 990 2023-07-01 330007407 IRVINE CAMPUS HOUSING AUTHORITY IRVI 9498244084 1083 CALIFORNIA AVENUE IRVINE CA 92617 VICTOR VAN ZANDT CEO & PRESIDENT 9498244084 2025-03-13 1 0 PAUL LOUIS P03303315 9494506200 2023 2025-03-06 01:10:19Z VICTOR VAN ZANDT 1083 CALIFORNIA AVENUE IRVINE CA 92617 17486035 0 X HTTP://WWW.ICHA.UCI.EDU X 1983 CA TO PROVIDE AFFORDABLE FACULTY AND STAFF HOUSING FOR THE UNIVERSITY OF CALIFORNIA. 10 1 34 0 0 0 0 0 15466833 16587887 581827 898148 0 0 16048660 17486035 0 0 0 0 3796854 4233272 0 0 0 10992845 11207974 14789699 15441246 1258961 2044789 117659556 118532066 72183736 70592585 45475820 47939481 X THE ORGANIZATION WAS CREATED BY THE REGENTS OF THE UNIVERSITY OF CALIFORNIA FOR THE PURPOSE OF DEVELOPING AND MAINTAINING AFFORDABLE HOUSING TO FACULTY AND STAFF OF THE UNIVERSITY OF CALIFORNIA. THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) AND IS A SECTION 509(A)(3) SUPPORTING ORGANIZATION TO THE UNIVERSITY OF CALIFORNIA. 0 0 14644193 16587887 THE IRVINE CAMPUS HOUSING AUTHORITY DEVELOPS AND MAINTAINS AFFORDABLE HOUSING AND RELATED FACILITIES FOR THE EMPLOYEES OF THE UNIVERSITY OF CALIFORNIA. 14644193 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 50 0 1 34 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 1 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X JENNIFER BARB CPA 9498244085 1083 CALIFORNIA AVENUE IRVINE CA 92617 BARBARA SARNECKA BOARD MEMBER 1.00 40.00 X 0 197678 49027 JENNIFER AARON CHAIR OF THE BOARD 1.00 40.00 X X 7200 219038 65200 YONG CHEN SECRETARY/TREASURER 1.00 40.00 X X 0 204009 71409 SAMARA LARSON BOARD MEMBER 1.00 40.00 X 0 152118 37163 DIANE O'DOWD BOARD MEMBER 1.00 40.00 X 0 334193 80552 HEIKE RAU BOARD MEMBER 1.00 40.00 X 0 232296 35543 TYRUS MILLER BOARD MEMBER 1.00 40.00 X 0 325273 40746 SUZANNE SANDMEYER BOARD MEMBER 1.00 40.00 X 0 295146 58268 MICHELLE THRAKULCHAVEE BOARD MEMBER 1.00 X 0 0 0 NANCY DASILVA BOARD MEMBER 1.00 40.00 X 0 258728 33076 VICTOR VAN ZANDT PRESIDENT / CEO 40.00 X 202255 0 63246 JENNIFER BARB VP OF FINANCE 40.00 X 149936 0 46400 KARLIE GEORGE EXECUTIVE VICE PRESIDENT 40.00 X 119501 0 52039 ANDREW HERNDON VP, COMMUNITY DEV. 40.00 X 164392 0 64900 ELAINE VATAKIS VP, RENTAL HOUSING 40.00 X 136796 0 48552 780080 2218479 746121 5 0 1 0 O'CONNELL LANDSCAPE MAINTENANCE 23091 ARROYO VISTA RANCHO SANTA MARGARITA CA 92688 LANDSCAPE MAINTENANCE 1399406 CALIFORNIA PACIFIC HOMES 16530 BAKE PARKWAY STE 200 IRVINE CA 92618 HOME BUILDER 790956 THE PARTNERS GROUP 1111 LAKE WASHINGTON BLVD N SUITE RENTON WA 98056 INSURANCE BROKER 613926 INLINE STRIPING INC 18121 HUTCHINGS DRIVE YORBA LINDA CA 92886 CONCRETE/ASPHALT MAINTENANCE 300116 LEONARDO CHAIDEZ TREE SERVICES PO BOX 29 ANAHEIM CA 92815 TREE TRIMMING 271389 15 RENTAL INCOME 531310 11192809 11192809 MAINTENANCE ASSESSMENTS 531310 2029030 2029030 SHARED APPRECIATION INCOME 531310 1583792 1583792 RESIDENT WATER AND SEWER 531310 872528 872528 GROUND SUBLEASE INTEREST INCOME 531310 824007 824007 85721 85721 16587887 898148 898148 17486035 16587887 0 898148 676597 568341 108256 2272323 2200856 71467 271846 264060 7786 806615 778389 28226 205891 195475 10416 46103 46103 105777 105777 266432 251407 15025 131167 118996 12171 101053 92024 9029 44236 28188 16048 2688994 2688994 1747896 1576837 171059 506182 453047 53135 MAINTENANCE OF HOUSING 3637902 3637902 COMMON AREA UTILITIES 859543 859543 COST OF RESIDENT WATER 820496 820496 ABANDONMENT OF PROJECT 130082 130082 122111 109638 12473 15441246 14644193 797053 0 738261 428927 21155366 19165641 181075 184104 1053927 5809915 80919366 16476690 66034915 64442676 28496012 28500803 117659556 118532066 1009400 1886289 96170 76711 32074928 30738557 39003238 37891028 72183736 70592585 X 45475820 47939481 45475820 47939481 117659556 118532066 X 2044789 418872 0 X X 0 1 X 1 0 X X 1 THE REGENTS OF THE UNIVERSITY OF CALIFORNIA AT IRVINE 952226406 5 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 79024528 15229307 63795221 364900 279105 85795 483526 238763 244763 1046412 729515 316897 64442676 PREPAID INSURANCE 248606 OTHER PREPAID ASSETS 34271 GROUND SUBLEASE RECEIVABLE 27980604 GROUND SUBLEASE INTEREST RECEIVABLE 70384 DEFERRED OUTFLOWS OF RESOURCES 165663 DEPOSITS 1275 28500803 SECURITY DEPOSITS 305690 PREMIUMS ON NOTES PAYABLE TO THE UC REGENTS, NET 798514 DEFERRED INFLOW OF RESOURCES 27197426 NOTE PAYABLE TO THE UC REGENTS 9110000 OTHER LIABILITIES 205874 PAYABLE TO THE UC REGENTS 273524 37891028 X 17486035 0 17486035 0 17486035 15441246 0 15441246 0 15441246 PART X, LINE 2: ICHA IS AN ORGANIZATION EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE AND IS GENERALLY NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. HOWEVER, ICHA IS SUBJECT TO INCOME TAXES ON INCOME THAT IS DERIVED FROM A TRADE OR BUSINESS, REGULARLY CARRIED ON, AND NOT IN FURTHERANCE OF THE PURPOSE FOR WHICH IT IS GRANTED EXEMPTION. NO INCOME TAX PROVISION HAS BEEN RECORDED AS THE TAXABLE INCOME, IF ANY, FROM ANY UNRELATED TRADE OR BUSINES, IN THE OPINION OF MANAGEMENT, IS NOT MATERIAL TO THE FINANCIAL STATEMENTS TAKEN AS A WHOLE. ICHA HAS NO UNRECOGNIZED TAX BENEFITS OR LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2024. X 0 0 0 0 0 0 0 0 0 DIANE O'DOWD BOARD MEMBER 0 334193 0 0 0 0 0 47701 0 32851 0 414745 0 0 TYRUS MILLER BOARD MEMBER 0 325273 0 0 0 0 0 25035 0 15711 0 366019 0 0 SUZANNE SANDMEYER BOARD MEMBER 0 295146 0 0 0 0 0 24035 0 34233 0 353414 0 0 NANCY DASILVA BOARD MEMBER 0 255938 0 2790 0 0 0 28720 0 4356 0 291804 0 0 JENNIFER AARON CHAIR OF THE BOARD 7200 219038 0 0 0 0 0 31886 0 33314 7200 284238 0 0 YONG CHEN SECRETARY/TREASURER 0 193676 0 10333 0 0 0 43142 0 28267 0 275418 0 0 HEIKE RAU BOARD MEMBER 0 232296 0 0 0 0 0 18720 0 16823 0 267839 0 0 VICTOR VAN ZANDT PRESIDENT / CEO 202255 0 0 0 0 0 32659 0 30587 0 265501 0 0 0 BARBARA SARNECKA BOARD MEMBER 0 182122 0 15556 0 0 0 22872 0 26155 0 246705 0 0 ANDREW HERNDON VP, COMMUNITY DEV. 164392 0 0 0 0 0 26079 0 38821 0 229292 0 0 0 JENNIFER BARB VP OF FINANCE 149936 0 0 0 0 0 19364 0 27036 0 196336 0 0 0 SAMARA LARSON BOARD MEMBER 0 152118 0 0 0 0 0 12643 0 24520 0 189281 0 0 ELAINE VATAKIS VP, RENTAL HOUSING 136796 0 0 0 0 0 22147 0 26405 0 185348 0 0 0 KARLIE GEORGE EXECUTIVE VICE PRESIDENT 119501 0 0 0 0 0 20122 0 31917 0 171540 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A ACCORDING TO THE ORGANIZATION'S BYLAWS, ALL DIRECTORS (MEMBERS OF THE ICHA BOARD), SHALL BE APPOINTED BY THE CHANCELLOR OF UNIVERSITY OF CALIFORNIA, IRVINE, WITH THE CONSENT OF THE PRESIDENT OF THE UNIVERSITY OF CALIFORNIA. FORM 990, PART VI, SECTION A, LINE 7B IN ACCORDANCE WITH THE GROUND LEASE AGREEMENT BETWEEN THE ORGANIZATION AND THE REGENTS OF THE UNIVERSITY OF CALIFORNIA AND OTHER DOCUMENTS, CERTAIN DECISIONS MADE BY THE ORGANIZATION ACTING AS LESSEE ARE SUBJECT TO THE APPROVAL OF THE REGENTS OR THEIR DELEGATES. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE SHALL HAVE THE RESPONSIBILITY FOR REVIEWING THE ORGANIZATION'S FORM 990 (INCLUDING ALL PERTINENT SCHEDULES) BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. -A DRAFT OF THE FORM 990 SHOULD BE READY FOR REVIEW BY THE AUDIT COMMITTEE WITH SUFFICIENT TIME FOR REVIEW PRIOR TO THE FILING DEADLINE. -FOLLOWING THE REVIEW OF THE FORM 990 BY THE AUDIT COMMITTEE, THE BOARD RECEIVES A COPY OF THE FORM 990 PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS AND EMPLOYEES ARE REQUIRED TO SIGN OUR CONFLICT OF INTEREST POLICY IN JULY OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 CHANGES IN SALARIES AND OTHER COMPENSATION FOR ALL OF THE ORGANIZATION'S SENIOR MANAGERS ARE DETERMINED ON AN ANNUAL BASIS BY THE FULL BOARD OF DIRECTORS IN CONSULTATION WITH THE COMPENSATION AND BENEFITS COMMITTEE CONSISTING OF THREE BOARD MEMBERS, INCLUDING THE BOARD CHAIR, NONE OF WHOM HAVE ANY FINANCIAL INTEREST IN THE OUTCOME OF THE DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING DOCUMENTS OF THE ORGANIZATION ARE AVAILABLE FOR INSPECTION AT THE ORGANIZATION'S MAIN OFFICE DURING NORMAL BUSINESS HOURS: TAX EXEMPTION APPLICATION (FORM 1023), INTERNAL REVENUE SERVICE DETERMINATION LETTER, ARTICLES OF INCORPORATION, BY-LAWS, AND AUDITED FINANCIAL STATEMENTS. -THE PUBLIC INSPECTION COPY OF THE ORGANIZATION'S FORM 990 FROM THE PREVIOUS THREE YEARS (AT A MINIMUM) WILL BE AVAILABLE FOR INSPECTION AT THE ORGANIZATION'S MAIN OFFICE DURING NORMAL BUSINESS HOURS. -WHEN RESPONDING TO A PUBLIC INSPECTION REQUEST FOR ANY ORGANIZATIONAL DOCUMENT OR FORM 990 BY ANYONE, THE ORGANIZATION SHALL FULFILL SUCH REQUEST IN A TIMELY FASHION WITHOUT INQUIRING AS TO THE REASON FOR THE PUBLIC INSPECTION REQUEST. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE REVIEWS AND APPROVES ALL AUDIT-RELATED ACTIVITIES AND TAX RETURNS. THE AUDIT COMMITTEE RECEIVES, REVIEWS, AND RESPONDS TO INFORMATION, INQUIRIES, AND REPORTS FROM THE AUDITORS AND CONFERS WITH THEM REGARDING THE ORGANIZATION'S FINANCIAL AFFAIRS. THE AUDIT COMMITTEE ADVISES THE BOARD REGARDING THE PRESENTATION AND THE ACCEPTANCE OF THE ANNUAL AUDIT REPORT AND FORM 990. FORM 990, PART XI, LINE 8 (PRIOR PERIOD ADJUSTMENT OF $418,872): IN THE MID-1980S, EIGHT HOMEOWNERS PREPAID THE GROUND SUBLEASE RENTS FOR THE ENTIRE DURATION OF THEIR GROUND SUBLEASE TERM IN CONJUNCTION WITH THEIR PURCHASE OF HOMES SOLD BY ICHA. EFFECTIVE JULY 1, 2021, ICHA IMPLEMENTED GASB STATEMENT NO. 87, LEASES, AND INCORRECTLY RECOGNIZED THE DEFERRED INFLOWS OF RESOURCES AND ADJUSTED THE PREVIOUSLY REPORTED UNRESTRICTED NET POSITION RELATED TO THOSE EIGHT GROUND SUBLEASES. DURING THE CURRENT FISCAL YEAR, ICHA REVERSED $418,872 OF DEFERRED INFLOWS OF RESOURCES AND ADJUSTED THE BEGINNING UNRESTRICTED NET POSITION. THE REGENTS OF THE UNIVERSITY OF CALIFORNIA AT IRVINE 1400 BIOLOGICAL SCIENCES 3 IRVINE CA 92697 952226406 EDUCATION UNIVERSITY CA 501(C)3 PUBLIC BENEFIT CORP. N/A 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 1 0 1 1 THE REGENTS - NOTE PAYABLE TO THE REGENTS E 9110000 CASH THE REGENTS - CASH HELD AT THE REGENTS STIP ACCOUNTS R 14036721 CASH THE REGENTS - RETURN EARNED ON THE REGENTS STIP ACCOUNTS S 835907 CASH THE REGENTS - PRINCIPAL PAYMENTS ON NOTES PAYABLE TO THE REGENTS E 375000 CASH THE REGENTS - INTEREST PAYMENTS ON NOTES PAYABLE TO THE REGENTS E 428046 CASH THE REGENTS - APARTMENTS RENTAL INCOME J 127440 CASH THE REGENTS - MISC SERVICES (ICHA WATER IT AND CSO SERVICES) M 824922 CASH THE REGENTS - GROUND LEASE K 1 CASH THE REGENTS - ICHA PURCHASES WATER & SEWER FROM THE REGENTS FOR RESIDENTS P 820496 CASH