Pismo Beach City Council
May 11, 2023

11:28 AM Smart Share Housing Solutions
01/06/23 Statement of Cash Flows
January through December 2022

OPERATING ACTIVITIES
Net Income
Adjustments to reconcile Net Income
to net cash provided by operations:

Prepaid D&O Insurance
20000 • Accounts Payable
Unearned SLO County ARPA
Restricted Waterman Reserves
Deferred Grant Income:County of SLO - 22-23
Deferred Grant Income:City of San Luis Obispo 22-23
Deferred Grant Income:County of SLO CBO 21-22
Deferred Grant Income:City of San Luis Obispo - 21-22
Deferred Grant Income:City of Pismo Beach
24000 • Payroll Liabilities:Fed - WH Tax Payable
24000 • Payroll Liabilities:Fed - Social Security Payable 24000 • Payroll Liabilities:Fed - Medicare Tax Payable
24000 • Payroll Liabilities:CA - State WH Payable
24000 • Payroll Liabilities:CA - SDI Payable
24000 • Payroll Liabilities:CA - Unemployment Payable
24000 • Payroll Liabilities:CA - ETT Payable
Jan - Dec 22
16,727.80
-180.09
5,701.47
50,000.00
286,182.12
4,999.96
3,999.98
-5,000.00
-2,302.10
-1,749.98
-178.00
-107.38
-25.14
-73.63
-15.14

23.64 0.82
Net cash provided by Operating Activities 358,004.33

FINANCING ACTIVITIES
32000 • Unrestricted Net Assets -1.86
Net cash provided by Financing Activities -1.86
Net cash increase for period 358,002.47
Cash at beginning of period 79,817.46
Cash at end of period 437,819.93

01 /06/23
Accrual Basis
11:25 AM Smart Share Housing Solutions
Profit & Loss
January through December 2022
Ordinary Income/Expense
Income
Waterman Village Income
HomeShare SLO Revenue
Seeker Fee
Match Fee
Total HomeShare SLO Revenue
Jan - Dec 22
Jan - Dec 21 $ Change
68,981.48 0.00 68,981.48
750.00 25.00 725.00
1,525.00 3,850.00 -2,325.00
2,275.00 3,875.00 -1,600.00
Contributions
Individuals 18,803.17 28,079.00 -9,275.83
Businesses 21.89 1,105.00 -1,083.11
Faith & Service Organizations 600.00 0.00 600.00
Foundations 4,993.00 2,400.00 2,593.00
Total Contributions 24,418.06 31,584.00 -7,165.94
Cal Home Grant Income
California Covid Grant
Government Grants
Total Income
Cost of Goods Sold
HomeShare SLO Expenses
Provider Incentive
Volunteer Training
Background Screening
Total HomeShare SLO Expenses
Waterman Village Expenses
Architect's Fees
Permit Fees
Waterman Village Survey
Total Waterman Village Expenses
Total COGS
Gross Profit
38,500.00 49,000.00 -10,500.00

0.00 15,000.00 -15,000.00
18,052.14 26,463.05 -8,410.91
152,226.68 125,922.05 26,304.63
1,000.00 0.00 1,000.00

3.99 0.00 3.99
3,308.74 5,648.04 -2,339.30
4,312.73 5,648.04 -1,335.31
21,691.64 0.00 21,691.64
43,711.37 0.00 43,711.37
3,500.00 0.00 3,500.00
68,903.01 0.00 68,903.01
73,215.74 5,648.04 67,567.70
79,010.94 120,274.01 -41,263.07
Expense
Marketing and Promotion
Community Outreach 0.00 4,134.23 -4,134.23
Advertising 281.00 0.00 281.00
Total Marketing and Promotion 281.00 4,134.23 -3,853.23 Administrative Overhead
Software 185.05 0.00 185.05
Board Recruitment 893.17 0.00 893.17
Employee Recruitment 102.50 0.00 102.50
Mileage 0.00 1,293.67 -1,293.67
Meals 11.78 0.00 11.78
Website Expense 494.80 351.09 143.71
Copying & Printing 401.40 26.10 375.30
Office Supplies 0.00 447.55 -447.55
Dues & Subscriptions 250.00 250.00 0.00
Insurance
Liability Insurance 641.00 781.76 -140.76
Officer's Liability Insurance 1,623.91 495.75 1,128.16
Insurance - Other 0.00 417.78 -417.78
Total Insurance 2,264.91 1,695.29 569.62
Postage 266.00 200.71 65.29
Square Fees 207.01 53.45 153.56
Taxes & Licenses 0.00 30.00 -30.00
Total Administrative Overhead
5,076.62 4,347.86 728.76

01 /06/23
Accrual Basis
11:25 AM Smart Share Housing Solutions
Profit & Loss
January through December 2022
Payroll Expenses
Salaries & Wages
Fed - Social Security Expense
Fed - Medicare Tax Expense
CA - Unemployment Tax Exp
CA - Emp Training Tax Exp
Workers' Comp Insurance
Payroll Processing Fees
Payroll Expenses - Other
Jan - Dec 22 Jan - Dec 21 $ Change
51,465.00 85,631.00 -34,166.00
3,190.83 5,309.12 -2,118.29
746.25 1,241.65 -495.40
649.46 798.00 -148.54

22.40 21.00 1.40
840.35 664.64 175.71
119.00 112.00 7.00

0.00 0.00 0.00
Total Payroll Expenses 57,033.29 93,777.41 -36,744.12
Total Expense 62,390.91 102,259.50 -39,868.59
Net Ordinary Income 16,620.03 18,014.51 -1,394.48
Other Income/Expense
Other Income
PPP Loan Income 0.00 16,384.00 -16,384.00
Dividend Income 0.00 51.70 -51.70
Interest Income 107.77 26.97 80.80
Total Other Income 107.77 16,462.67 -16,354.90
Net Other Income 107.77 16,462.67 -16,354.90
Net Income 16,727.80 34,477.18 -17,749.38

Smart Share Housing Solutions, Inc.

Financial Statements
December 31, 2018

Smart Share Housing Solutions, Inc.

December 31, 2018

CONTENTS
Financial Statements
Audit Report of Independent Accountant
Statement of Financial Position
Statement of Activities and Changes in Net Assets
Statement of Functional Expenses
Statement of Cash Flows
Notes to Financial Statements
Page
1 3
4 5
6 7

Kenneth J Filipponi

CERTIFIED PUBLIC ACCOUNTANT
Audit Report of Independent Accountant
To the Board of Directors
Smart Share Housing Solutions, Inc.

San Luis Obispo, California
I have audited the accompanying financial statements of Smart Share Housing Solutions, Inc. (a nonprofit corporation), which comprise the statement of financial position as of December 31, 2018 and the related statements of activities and changes in net assets, functional expenses, and cash flows for the year then ended, and the related notes to the financial statements.

Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility
My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.

The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, I express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. (805) 461-4970
Post Office Box 420 Atascadero, CA 93423
1 Audit Report of Independent Accountant
Opinion
In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Smart Share Housing Solutions, Inc. as of December 31, 2018 and the changes in its net assets and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

Kenneth J Filipponi
Certified Public Accountant
January 13, 2020
2 Smart Share Housing Solutions, Inc.

Statement of Financial Position
December 31, 2018
Note 2018
Assets
Current Assets
Cash and cash equivalents 1.d. $ 17,857
Other current assets 3. 355
Total Current Assets 18,212
Total Assets $ 18,212
Liabilities and Net Assets
Current Liabilities
Accounts payable $ 478
Payroll taxes payable 1,906
Total Current Liabilities 2,384
Contingencies 6.

Total Liabilities 2,384
Net Assets
Without donor restrictions
Undesignated
With donor restrictions
Purpose restricted

1.b. (3,997)

1.b. 19,825
Total Net Assets
Total Liabilities and Net Assets
15,828
$ 18,212
See notes to financial statements.
3 Smart Share Housing Solutions, Inc.

Statement of Activities and Changes in Net Assets
For the Year Ended December 31, 2018
Without Donor With Donor
Restrictions Restrictions
Totals
Revenues, Gains, and Other Support
Local government financial assistance $ 15,825 $ 19,825 $ 35,650 Private donations 48,346 48,346
Service fees 15,500 15,500
Other revenue 776 776
Subtotals 80,447 19,825 100,272
Total Revenues, Gains, and Other Support
80,447 19,825 100,272
Expenses
Program services
Fundraising, net of direct costs
Management and general
85,848
7,049
8,208
85,848
7,049
8,208
Total Expenses
101,105 101,105
Change in Net Assets from Operating Activities
Net Assets, Beginning
(20,658) 19,825 (833)
16,661 16,661
Net Assets, Ending
$ (3,997) $ 19,825 $ 15,828
See notes to financial statements.
4 Smart Share Housing Solutions, Inc.

Statement of Functional Expenses
For the Year Ended December 31, 2018
Management and
Programs Fundraising General
Totals
Payroll $ 63,347 $ 6,473 $ 6,473 $ 76,293
payroll taxes 5,419 576 576 6,571
Subtotals
68,766 7,049 7,049 82,864
Advertising 1,548 1,548
Memberships and licenses 300 300
Bank charges 95 95
Office 467 467
Background screening 9,368 9,368
Insurance 3,937 437 4,374
Other operating expense 1,023 1,023
Professional fees 114 114
Travel 492 492
Utilities 414 46 460
Subtotals
85,848 7,049 8,208 101,105
Totals
$ 85,848 $ 7,049 $ 8,208 $ 101,105
See notes to financial statements.
5 Smart Share Housing Solutions, Inc.

Statement of Cash Flows
For the Year Ended December 31, 2018
Note 2018
Cash Flows From Operating Activities:

Change in net assets
Adjustments to reconcile change in net assets to net cash provided by operating activities:

Changes in assets and liabilities:
(Increase) decrease in other current assets
Increase (decrease) in accounts payable and accrued liabilities Increase (decrease) in payroll taxes payable
Increase (decrease) in other current liabilities
$ (833)
1,239
(19,347)
1,906
17,955
Total Cash Flows From Operating Activities 920
Cash Flows From Investing Activities:

Net cash increase (decreases) in cash and cash equivalents 920 Cash and Cash Equivalents at Beginning of Period 16,937 Cash and Cash Equivalents at End of Period $ 17,857
Cash and cash equivalents at June 30 are as follows:

Cash in financial institutions without donor restrictions

1., d. $ 17,857
Cash and cash equivalents
$ 17,857
Supplemental data:

Interest paid
Income taxes paid
See notes to financial statements.
6 Smart Share Housing Solutions, Inc.

Notes to Financial Statements
For the Year Ended December 31, 2018

1. Significant Accounting Policies
a. Date and place of incorporation, commencement of operations Smart Share Housing Solutions, Inc. is a not -for -profit, non -stock corporation organized under the laws of the state of California on November 15, 2017. The Organization began as HomeShareSLO in 2016 with the mission to develop inovative housing solutions, to facilitate matches between people with extra room and people seeking housing. b. Basis of Presentation
The accompanying financial statements include a statement of financial position, a statement of activities, a statement of functional expenses, and a statement of cash flows. The Organization is required to report information regarding its financial position and activities according to two classes of net assets as follows:

Net Assets without Donor Restrictions - Represents those resources that are not subject to donor -imposed restrictions (donors include other types of contributions, including makers of certain grants), and can be used for any purpose designated by the Organization's governing board.

Net Assets with Donor Restrictions - Represents resources and the portion of net assets resulting from contributions and other inflows of assets whose use is subject to donor -imposed restrictions. c. Basis of Accounting
The financial statements are presented using the accrual basis of accounting that recognizes revenue when earned and operating expenses when incurred.
d. Cash and Cash Equivalents
For purposes of the statement of cash flows, the Organization considers all unrestricted, highly liquid investments with an initial maturity of three months or less to be cash equivalents. It considers temporarily restricted agency and endowment funds to be cash equivalents as the Organization's governing body may decide to use the funds for certain programs at any time.
e. Income taxes
The organization is a not -for -profit organization exempt from income tax under Section 501(c)(3) of the Internal Revenue Code. The Internal Revenue Service classifies the Organization as other than a private foundation. Although the Organization was granted income tax exemption by the Internal Revenue Service, such exemption does not apply to "unrelated business taxable income." Such income, pursuant to the Internal Revenue Code and related regulations, includes investment income such as interest received from investment sources. The Organization was not required to report unrelated business taxable income during the period.

For the year ended December 31, 2018, the Organization has no material uncertain tax positions to be accounted for in the consolidated financial statements under the principles of the Income Taxes topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC).

See audit report of independent accountant. 7

Smart Share Housing Solutions, Inc.

Notes to Financial Statements
For the Year Ended December 31, 2018

1. Significant Accounting Policies
e. Income taxes
All tax exempt entities are subject to review and audit by federal, state and other applicable agencies. Such agencies may review the taxability of unrelated business income, or the qualification of the tax-exempt entity under the Internal Revenue Code and applicable state statutes. With few exceptions, the tax returns remain subject to examination by the Internal Revenue Service for three years after the filing due date of the return (without extensions), and by the California Franchise Tax Board for four years after the due date of the return (without extensions). f. Use of estimates
The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and may have impact on future periods.
g•
Financial instruments
The Organization's financial instruments consist of accounts receivable, short term investments, accounts payable, and other accrued liabilities. The organization has determined that the estimated fair value of the financial assets and liabilities do not differ considerably from their book value.
h. Contributions and Support
The Organization accounts for contributions in accordance with FASB ASC Revenue Recognition, contributions received are recorded as unrestricted, temporarily restricted, or permanently restricted support depending on the existence and/or nature of any donor restrictions. Support that is restricted by the donor is reported as an increase in unrestricted net assets if the restriction expires in the reporting period in which the support is recognized. Restricted net assets are reclassified to unrestricted net assets and are reported in the statement of activities as net assets released from restriction when the donor stipulated time restriction expires or the restricted purpose is accomplished. i. Revenue Recognition
Service revenue is recognized in accordance with industry practice which is when all the risks and benefits of the services have been transferred to customers under executed service agreements.

See audit report of independent accountant. 8

Smart Share Housing Solutions, Inc.

Notes to Financial Statements
For the Year Ended December 31, 2018

1. Significant Accounting Policies
J•
Functional expenses
i. The expenses that are allocated include the following:

Expense
Basis of
Allocation
Salaries and wages Time and effort
Payroll taxes Time and effort
Office Time and effort
k. Allocation of Functional Expenses
The cost of providing the Organization's programs and other activities is summarized on a functional basis in the statement of activities and statement of functional expenses. Expenses that can be identified with a specific program or support service are charged directly to that program or support service. Costs common to multiple functions have been allocated among the various functions benefited in reasonable ratios determined by management.

General and administrative expenses include those costs that are not directly identifiable with any specific program, but which provide for the overall support and direction of the Organization.

Fundraising costs are expensed as incurred, even though they may result in contributions received in future years. The Organization generally does not conduct its fundraising activities in conjunction with its other activities.

1. Advertising Costs
Advertising costs are expensed as incurred.
m. New accounting pronouncement
On August 18, 2016, FASB issued ASU 2016-14, Not -for -Profit Entities (Topic 958) — Presentation of Financial Statements of Not -for -Profit Entities. The update addresses the complexity and understandability of net asset classification, deficiencies in information about liquidity and availability of resources, and the lack of consistency in the type of information provided about expenses and investment return. Smart Share Housing Solutions, Inc. has adjusted the presentation of these statements accordingly.

See audit report of independent accountant. 9

Smart Share Housing Solutions, Inc.

Notes to Financial Statements
For the Year Ended December 31, 2018

2. Accounts Receivable
Accounts receivable consists of maintenance fees charged to Project Lifesaver clients. Management considers the accounts to be fully collectible and has not established an allowance for doubtful accounts.

3. Other Current Assets
Other current assets at June 30 are as follows:
2018
Prepaid workers' compensation insurance
$ 355
Total
$ 355

4. Programs
The organization's programs are as follow:

HomeShareSLO — a facilitated housemate-matching program serving mostly lower -income seniors..

Tiny House Consulting — the program assists the community to understand and implement the new rules allowing tiny homes on wheels in shared backyards
Co -Living Collaborative — the program seeks to explore ownership opportunities to provide deed -restricted affordable, sustainability focused, community -centered housing.

5. Concentration of Credit Risk
The Organization maintains accounts at one bank The Federal Deposit Insurance Corporation (FDIC) insures each depositor at a member financial institution up to $250,000. As of December 31, 2018 there were no uninsured cash balances held by the banks.

6. Contingencies
Certain grants from donors are subject to audit by the donor. Such audits could result in claims against the Organization for disallowed costs or noncompliance with grantor restrictions. No provision has been made for any liabilities that may arise from such audits since the amounts, if any, cannot be determined at this time.

See audit report of independent accountant. 10

Smart Share Housing Solutions, Inc.

Notes to Financial Statements
For the Year Ended December 31, 2018

7. Liquidity
a. The organization's financial assets available within one year of the balance sheet date for general expenditure are as follows:

The Organization regularly monitors liquidity required to meet its operating needs and other financial commitments, while also striving to maximize the investment of its available funds. The Organization maintains financial resources policy that outlines acceptable investment vehicles for working capital, which includes reserves to be spent in the short-term on current activities, donor restricted funds meant to be spent down over a relatively short period of time to fund programs, and operating cash, which includes gifts without donor restrictions and with restriction or funds for operating needs. Per the policy, the Organization may invest available cash needed for its general expenditures, liabilities, and other obligations in short-term investments, specifically interest bearing checking accounts, money market funds, and money market mutual funds.
2018
Cash and cash equivalents
Accounts receivable
$ 17,857
1,210
Subtotal 19,067
Less: those unavailable for general expenditures within one year, due to:

Purpose restriction (19,825)
Total
$ (758)

8. Subsequent Events
Subsequent events are events or transactions that occur after the statement of financial position date but before financial statements are available to be issued. The Organization recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the statement of financial position, including the estimates inherent in the process of preparing the financial statements. The Organization's financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the date of the statement of financial position but arose after the statement of financial position date and before financial statements are available to be issued.

The date to which events occurring after December 31, 2018 have been evaluated for possible adjustment to the financial statements or disclosure is the same as the report date, which is the date on which the financial statements were available to be issued.

See audit report of independent accountant. 11

�SLO
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FOUNDATION

HEALTH CLINICS
Celebrating 10 Years of Service
March 31, 2023
City of Pismo Beach
Julia Goodman
760 Mattie Road
Pismo Beach, CA 93449
Dear Julia,
As a long-term recipient of funding from the City of Pismo Beach, we at the SLO Noor Foundation would like to thank you for the ongoing support enabling SLO Noor Health Clinics to substantially grow in capacity and scope. Since 2010, the SLO Noor Foundation has evolved from a single part-time medical clinic to a comprehensive healthcare facility and community network with a mission to provide free medical, dental, and vision care services to uninsured adults in San Luis Obispo and northern Santa Barbara Counties, regardless of race, ethnicity, religion, gender, sexual orientation, or immigration status.

The SLO Noor Foundation is committed to advancing diversity and inclusion by helping ensure that all people across the community feel valued and have equal access to resources, services, and opportunities provided by SLO Noor Health Clinics.

This year, we are requesting funding in the amount of $20,000 for the Whole Community Care project, which will further increase the reach and range of health and support services through the introduction of a mobile health program and community outreach initiative targeting low-income communities and low -wage workers within at -risk and hard -to -reach populations.

Beginning March 31, 2023, the COVID-19 Medi-Cal expansion will be closed, and because many individuals in labor, service, and trade industries have received wage increases to compete with rampant inflation, many lower wage workers will no longer qualify for government coverage. According to US Census Bureau estimates for 2022, over 40,000 residents in the SLONF's service area are already uninsured, disproportionately affecting BIPOC, low-income, low -wage, non -En- glish-speaking, migrant, and farm -working populations. During a period of high inflation and fast -rising healthcare costs, these community members have been among the most vulnerable to health crises and economic hardship caused by medical or unexpected emergencies.

According to the HRSA 2020 Health Equity Report, these populations experience far poorer health outcomes due to factors such as low healthcare access rates, lower health literacy, higher medical mistrust, and implicit bias, and in 2022, the SLONF's patient base reflected these findings, where 86% were severely below the Federal Poverty Level, 86% were BIPOC, and 70% non -English-speaking with 69% diagnosed with one or more high -risk chronic conditions. Because many part-time and lower wage earners may no longer qualify for government coverage, yet cannot afford out-of-pocket premiums and cannot receive coverage through their employers, SLO Noor Health Clinics bridge the area's healthcare gap by providing comprehensive clinical services and health education which help promote a safe and healthy place for our community and local economy to thrive. As businesses and organizations across the County struggle with mass staffing shortages, it is vital to ensure that employees of diverse backgrounds can receive healthcare coverage to help restore the livelihood of the area's workforce. Through the Whole Community Care project, not only will primary care be offered at mobile clinic events around the County, but the Foundation will also launch a community outreach initiative connecting employees of local businesses and organizations to SLO Noor Health Clinic programs. 1428 Phillips Lane, Ste, 203, San Luis Obispo, CA 93401 I 805.439.1797 I SLONoorFoundation.org

�SLO
t
n 11-771 R

FOUNDATION

HEALTH CLINICS
Celebrating 10 Years of Service
We are requesting $20,000 which will be used to offset direct clinic expenses, including essential medical and dental supplies, laboratory and radiology diagnostics, personal protective equipment, and medical support staff costs necessary to serve a projected 1,800 patients and 5,200 in -clinic and telehealth encounters in the fiscal year (FY) 23-24.

Since the Spring of 2022, the SLO Noor Foundation operated two physical clinics in San Luis Obispo as well as a telehealth and virtual support program launched in 2020 and a mobile health unit operated in partnership with Cal Poly to provide women's health services in the Santa Maria Valley. During this period, funds from the City of Pismo Beach have helped the SLO Noor Foundation successfully increase the capacity of its existing services, delivering care to 1,500 patients over 4,382 encounters with 41% of patients being new in 2022. SLO Noor Health Clinics admitted 364 new patients in 2022 and have been able to increase monthly patient visits from 251 to 365 for a total 18% increase in clinical capacity. It is projected that by this time next year SLO Noor Health Clinics will increase an additional 20% with an average of 430 monthly patient visits. Of these visits, 233 uninsured residents resided in Pismo Beach and the Five cities area with records showing that residents received 1,056 diagnostics for patients with or at risk of high -risk chronic conditions, including hyperlipidemia, hypertension, diabetes, and obesity.

Funding from the City of Pismo Beach in FY 2023-24 will assist the SLO Noor Foundation in successfully continuing to expand the availability and reach of its health and support services and extend preventive and episodic care to hard -to -reach underserved and uninsured communities before health concerns become costly emergencies requiring critical care. Funding through the 2022 County American Rescue Plan Act afforded the SLO Noor Foundation to design a mobile clinic expansion, the SLO Noor Free Mobile Clinic, which will serve under-resourced geographical areas in the County, including Grover Beach, Nipomo, and Oceano. With $20,000 in requested funding for the Whole Community Care project, we can help to address inequity in healthcare access and quality by improving the safety and wellbeing of community members facing obstacles barring them from accessing SLO Noor Health Clinics, including transportation, technology, workplace, or childcare accommodations. By assisting improving awareness of and access to healthcare and support services via mobile health and outreach, the SLO Noor Foundation will help community members learn to manage their health independently to support long-term wellbeing and livelihood on a community level.

Thank you for the City of Pismo Beach's ongoing partnership with the SLO Noor Foundation and for consideration of funding again in 2023 for the Whole Community Care project. We firmly believe that the health of this community begins with the health of the individual, and together with our partners, the SLO Noor Foundation plans to push healthcare forward for the Central Coast.

Sincerely,
David Parro
Executive Director
1428 Phillips Lane, Ste, 203, San Luis Obispo, CA 93401 I 805.439.1797 I SLONoorFoundation.org

2023 SLO Noor Foundation Organization Budget
Income
Total 4000-00 Donations $ 480,500.00
4505-01 Government Grants $ 240,000.00
4505-02 Private Grants $ 379,200.00
Total Income $1, 099,700.00
Expenses
6000-00 Advertising and Promotion $ 2,500.00
6040-00 Bank Service Charges $
6040-01 Merchant Processing Charges $ 4,000.00
6100-00 Business Licenses and Permits $ 6,000.00
6250-00 Dues and Subscriptions $ 3,000.00
6300-00 Insurance Expense $ 10,000.00
6340-00 Interest Expense $
6450-00 Medical Expense
6450-01 Lab Expenses $
6450-02 Pharmacy $
6450-03 Imaging Expenses $
6450-06 Hazardous Waste $
6450-07 Medical supplies $
6451-00 Dental Expenses
30,000.00
20,000.00
1,500.00
10,000.00
6451-01 Dental Supplies
Total 6452-00 Vision Expense
6550-00 Office Expense and Supplies
6550-03 Office Expense and Supplies -Dental
6550-05 Office Expense and Supplies -Medical
6600-00 Professional Fees
$ 12,000.00
$ 4,000.00
$ 6,000.00
$ 2,400.00
$ 6,000.00
6601-00 Bookkeeping, Accounting
6601-01 Americorps
6710-00 Rent Expense
$ 20,000.00
$ 24,000.00
6710-01 Medical Clinic Rent $ 174,000.00
6710-03 Dental Clinic Rent $ 20,000.00
6720-00 Repairs and Maintenance -Office $ 2,400.00
6960-00 Repair & Maintenance -Medical Equipment $ 2,400.00 6810-00 Telephone/Internet Expense
6810-01 Telephone/Internet
6860-00 Utilities
6920-00 Payroll Expenses
$ 8,000.00
$ 5,000.00
6921-00 Payroll Expenses -Employees $ 625,700.00
6923-00 Payroll Expenses -Taxes $ 62,570.00
6930-00 Postage & Delivery $ 2,400.00
6945-00 Promotional Meals $ 1,000.00
6975-00 Storage $
Software Expense $ 6,000.00
Total Expense $1,070,870.00
Net Total $ 28,830.00

SLO Noor Foundation
Profit and Loss
January - December 2022
TOTAL
Income
4000 Donations
4005-00 Donations -Restricted
4005-02 Restricted to Vision Clinic
4005-03 Restricted to Dental Clinic
4005-04 Restricted to Medical Clinic
4010-00 Restricted - Other
Total 4005-00 Donations -Restricted
4020-00 Donations -Unrestricted
4021-00 Miracle 1000
Total 4020-00 Donations -Unrestricted
Total 4000 Donations
4022-00 Sargen Donation
4505-00 Grant Money
4505-02 Restricted to Dental
4505-04 Mental Health
4508-00 Restricted to Patient Care Expenses
4509-00 Restricted to Payroll/Operating Expenses
4509-01 Restricted to Medical Staff Payroll
4509-02 Restricted to Dental Staff Payroll
Total 4509-00 Restricted to Payroll/Operating Expenses
4510-00 Restricted to Supplies all Depts
Total 4505-00 Grant Money
4610-00 Rental income
Total Income

GROSS PROFIT
Expenses
6000-00 Advertising and Promotion
6020-00 Alarm Service
6040-00 Bank Service Charges
6040-01 Merchant Processing Charges
Total 6040-00 Bank Service Charges
6100-00 Business Licenses and Permits
6200-00 Continuing Education
6250-00 Dues and Subscriptions
6300-00 Insurance Expense
6340-00 Interest Expense
6450-00 Medical Expense
6450-01 Lab Expenses
6450-02 Pharmacy
6450-03 Imaging Expenses
2,575.85
18,798.19
5,227.27
3,244.40
29,845.71
330,678.94
9,653.46
340,332.40
370,178.11
180,000.00
19,181.50
5,500.02
4,999.00
6,062.49
313,662.02
23,264.74
29,499.96
366,426.72
43,686.03
445,855.76
8,000.00
$1,004,033.87
$1,004,033.87
437.35
665.00

45.00 3,147.48
3,192.48
5,992.52
400.00
2,363.96
10,989.88
671.81
29,465.38
220.66
17,119.88
Accrual Basis Tuesday, February 7, 2023 03:04 PM GMT-08:00 1/3

TOTAL
6450-06 Hazardous Waste
6450-07 Medical supplies
Total 6450-00 Medical Expense
6451-00 Dental Expenses
6451-01 Dental Supplies
6451-02 Dental Lab Expense
Total 6451-00 Dental Expenses
6452-00 Vision Expense
6452-01 Medical supplies - vision
Total 6452-00 Vision Expense
6550-00 Office Expense and Supplies
6550-01 Administrative Expense
6550-02 Office Expense and Supplies -Dental
6550-03 Office Expense and Supplies -Medical
Total 6550-00 Office Expense and Supplies
6600-00 Professional Fees
6601-00 Bookkeeping, Accounting
6602-00 Consulting
6604-00 Legal & Accounting
6606-00 6606-00 Americorps
Total 6600-00 Professional Fees
6710-00 Rent Expense
6710-01 Medical Clinic Rent
6710-03 Dental Clinic Rent
Total 6710-00 Rent Expense
6720-00 Repairs and Maintenance -Office
6720-03 Repair & Maintenance -Dental Office
6960-00 Repair & Maintenance -Medical Equipment
Total 6720-00 Repairs and Maintenance -Office
6810-00 Telephone/Internet Expense
6860-00 Utilities
6860-03 Utilities - Dental
Total 6860-00 Utilities
6920-00 Payroll Expenses
6921-00 Payroll Expenses -Employees
6923-00 Payroll Expenses -Taxes
Total 6920-00 Payroll Expenses
6930-00 Postage & Delivery
6945-00 Promotional Meals
Melio Credit card fee
Software Expense
Total Expenses

NET OPERATING INCOME
Other Income
6990-00 Other Income
667.69
6,960.12
54,433.73
6,896.27
495.00
7,391.27
3,570.67
3,570.67
1,913.53
1,705.67
6,675.69
10,294.89
15,263.99
600.00
4,200.00
22,000.00
42,063.99
102,000.00
17,220.00
119,220.00
260.55
170.00
580.70
1,011.25
425.74
8,533.60
4,891.01
13,424.61
457,489.52
40,053.14
497,542.66
2,527.12
1,136.82

10.00 4,092.45
$781,858.20
$222,175.67
250.00
Accrual Basis Tuesday, February 7, 2023 03:04 PM GMT-08:00 2/3

TOTAL
6991-00 Interest Income
7100-00 Unrealized gain/loss on investments
Total Other Income

NET OTHER INCOME

NET INCOME

30.44 -12,505.60
$-12,225.16
$-12,225.16
$209,950.51
Accrual Basis Tuesday, February 7, 2023 03:04 PM GMT-08:00 3/3

People's
t ill Self -Help
Housing
April 19, 2023
Attn: Emily France
Administrative Services Department
760 Mattie Road
Pismo Beach, California 93449
Dear Julia Goodman and City of Pismo Beach City Council, People's Self -Help Housing is pleased to submit this request for funding for Supportive Housing Program (SHP) services at our three properties and 76 housing units located in the City of Pismo Beach. Of these units, 50 are scheduled to open at the Pismo Terrace property on September 1, 2023, where residents will receive 10 months of grant -funded services during the grant period.

Founded in 1970, the mission of PSHH is to build affordable homes with site -based services that offer opportunities to change lives and strengthen communities on the Central Coast of California.

Since founding, our services have evolved from providing paths to homeownership for first-time homeowners to the provision of affordable rental housing with in-house, attentive property management, clinical social services, and education programming at each of the 56 affordable rental properties we have developed and compassionately maintain. Believing that housing alone does not create long-term stability and resiliency, PSHH is committed to improving health outcomes and access to opportunity for the over 5,100 residents who return home to our rental properties each day.

Our board of directors meets every two months and is chaired by Shelly Higginbotham, former mayor of Pismo Beach. Funds will directly support clinical social services and the development of wrap- around services provided to residents of our Pismo Beach properties.

In over 53 years of service to Central Coast communities, PSHH has helped over 1,200 low-income working families attain the American Dream through "sweat equity". With a portfolio of nearly 2,000 affordable rental units throughout our geographical footprint from Ventura to San Luis Obispo, PSHH provides a variety of free, onsite health and education programs designed to promote housing stability and long-term resiliency.

The Supportive Housing Program, for which we are respectfully requesting funding in the amount of $5,000, provides clinical social services and case management to any residents of the 26 current households of its Pismo Beach affordable housing properties. When Pismo Terrace opens, SHP will provide services to any residents of the 50 units that may require assistance, including 24 households that are set aside for No Place Like Home units, of which 5 are set aside for Transitional Age Youth.

Services will include enhanced access to preventive health screenings, nutrition security, critical medical transportation, behavioral health counseling, financial literacy coaching, and administrative support, such as assistance securing disability accommodations, medical equipment, or SSI benefits.

Services are provided free of charge, barrier, or restriction to the residents we serve. Our service demographic is primarily low-income families, seniors, persons with disabilities, veterans, farmworkers, and those transitioning out of homelessness. New residents are never placed on a waiting list, and receive intake and assistance within days of requesting services, helping to mitigate domestic crises that frequently end in homelessness.

Once a resident or household initiates services, a clinical social worker is assigned to the household.

An initial intake meeting is scheduled, during which the social worker conducts a needs and eligibility assessment and works with the household to address immediate crises, to address secondary needs that enhance household security, to secure all available community resources, and co -develop a personalized clinical case management plan designed to help the resident move toward personal resiliency. Services are confidential, optional, and language -inclusive, provided in English, Spanish or additional languages as needed. PSHH forecasts that over 1,100 person hours will be dedicated to the provision of social services and social worker supervision.

This request will support 76 households Pismo Creek Bungalows, Sea Haven Apartments, and, starting around September 1, 2023, Pismo Terrace, all in Pismo Beach. Comprising 50 units, Pismo Terrace will feature one unit for an onsite property manager and 24 No Place Like Home units including 5 set aside for transitional age youth. The remaining 25 units will be dedicated to low- income households, earning up to 60% of Area Median Income. As our housing for recently homeless residents typically serves some of the most vulnerable among our resident population, we anticipate high utilization of SHP services within the first 6 months of Pismo Terrace opening.

PSHH property managers and clinical social workers are based onsite, enhancing responsiveness and efficiency in crisis situations by providing outreach. Social workers are typically also culturally representative of the residents they serve, establishing trust and cultivating long-term relationships with the household. This uniquely culturally -relevant and evidence -based practice has been shown to expedite referrals and interventive processes as residents are more inclined to accept assistance early in the timeline. Social workers are also trained in crisis response and trauma -informed frameworks, providing interim counseling services until referrals to partnering outside agencies are complete.

Households are certified as very -low-income at time of move -in, which typically means they earn 60% or less of Area Median Income, per HUD income limits. Most services are provided weekdays between 9 am and 6 pm. While hybrid and distance services are still available on an as -needed basis, programming has largely returned to in -person service provision.

This program addresses the City's vision and goal #4 identified for 2024 & 2025 enhancing community charavter and quality of life for residents. By housing existing homeless households, and by ensuring that low-income households that are in danger of homelessness or homelessness recidivism, this investment in Pismo Beach neighborhoods will contribute to the preservation of the outcomes of the City's beautification strategies, and with over 1,100 hours of clinical social services, the City will realize exceptional services to those at risk of homelessness from a nominal investment.

Sincerely,
P-642edt-C--1,d,t/tai42
Forrest Eastham
Grants Manager
[email protected]
(805) 548-2345

PEOPLE'S SELF-HELP HOUSING CORPORATION

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

AND OFFICE OF MANAGEMENT AND BUDGET

UNIFORM GUIDANCE REPORTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED

PEOPLE'S SELF-HELP HOUSING CORPORATION

AUDITED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022
AND 2021 RESTATED

TABLE OF CONTENTS
Audited Consolidated Financial Statements Page
Independent Auditor's Report 1-3
Consolidated Statements of Financial Position 4
Consolidated Statements of Activities 5
Consolidated Statements of Cash Flows 6
Consolidated Statement of Functional Expenses 7
Notes to the Consolidated Financial Statements 8-29
Supplementary Information
Statement of Financial Position for Multifamily Properties 30 Statement of Activities for Multifamily Properties 31
Supplementary Contract Information for State of California Department of Housing and Community Development for Sea Haven Apartments 32-41 Supplementary Contract Information for State of California Department of Housing and Community Development for Cawelti Apartments 42-51 Supplementary Contract Information for USDA — Rural Development for Pacific View 52-56
Supplementary Contract Information for USDA — Rural Development for Los Adobes De Maria 57-61
Supplementary Contract Information for Neighborworks America 62-63 Schedule of Expenditures of Federal Awards 64-65
Independent Auditor's Report on Internal Control over
Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards 66-67
Independent Auditor's Report on Compliance with
Requirements That Could Have a Direct and Material
Effect on Each Major Federal Program and on Internal Control Over Compliance in Accordance with the Uniform Guidance 68-70 Schedule of Findings and Questioned Costs 71
Summary Schedule of Prior Audit Findings 72

Grant Bennett Associates

A PROFESSIONAL CORPORATION

INDEPENDENT AUDITOR'S REPORT
Board of Directors
People's Self -Help Housing Corporation
San Luis Obispo, California
Proud Member of
AlliottGlobalAlliance-
Opinion
We have audited the accompanying consolidated financial statements of People's Self -Help Housing Corporation (PSHHC) and subsidiaries, which comprise the consolidated statement of financial position as of June 30, 2022, and the related consolidated statements of activities, functional expenses and cash flows for the year then ended, and the related notes to the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the People's Self -Help Housing Corporation (PSHHC) and subsidiaries as of June 30, 2022, and the changes in its net assets and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the People's Self -Help Housing Corporation (PSHHC) and subsidiaries and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

The June 30, 2021 consolidated financial statements were restated to consolidate wholly -owned subsidiaries Casas Las Granadas, L.P., Lachen Tara, L.P. and Villas at Higuera, L.P. as of July 1, 2020. As a result of the restatement, total net assets at July 1, 2020 were increased by $471,489.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the People's Self -Help Housing Corporation (PSHHC) and subsidiaries ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report GBA
10850 Gold Center Drive, Suite 260
Sacramento, CA 95670
916/922-5109 FAX 916/641-5200
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
www.gbacpa.com
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 1 Grant Bennett Associates

A PROFESSIONAL CORPORATION
Proud Member of
AlliottGlobalAlliance-
that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks.

Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the People's Self -Help Housing Corporation (PSHHC) and subsidiaries internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the People's Self -Help Housing Corporation (PSHHC) and subsidiaries ability to continue as a going concern for a reasonable period of time.

We did not audit the financial statements of El Patio, L.P., Schoolhouse Lane Apartments, L.P., Oak Forest Associates, L.P., Oceanside Gardens, L.P., Belridge Street Associates, L.P., Storke Ranch Apartments, L.P., Templeton Place, L.P., Sequoia Affordable Housing Associates, L.P., Mariposa Reale, L.P., Juniper Street Associates, L.P., Canyon Creek, L.P., Los Adobes De Maria II, Rio Vista Associates, Heath House LLC, Casas Las Granadas, L.P., Lachen Tara, L.P., and Villas at Higuera, L.P. which statements reflect total assets of $5,198,646, $1,443,349, $1,490,177, $913,417, $686,868, $1,185,982, $1,238,584, $774,474, $4,293,245, $678,860, $10,850,521, $6,838,663, $7,867,430, $1,790,465, $1,476,531, $4,545,733 and $4,464,537 respectively, as of June 30, 2022, and total support and revenues of $456,971, $202,487, $216,552, $181,273, $133,643, $542,086, $264,460, $105,973, $1,187,504, $141,920, $793,351, $409,001, $979,184, $117,266, $131,048, $232,585 and $275,002 respectively, for the year then ended. Those statements were audited by other auditors whose report have been furnished to us, and our opinion, insofar as it relates to the amounts included for El Patio, L.P., Schoolhouse Lane Apartments, L.P., Oak Forest Associates, GBA
10850 Gold Center Drive, Suite 260
Sacramento, CA 95670
916/922-5109 FAX 916/641-5200
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
www.gbacpa.com
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 2 Grant Bennett Associates

A PROFESSIONAL CORPORATION
Proud Member of
AlliottGlobalAlliance-
L.P., Oceanside Gardens, L.P., Belridge Street Associates, L.P., Storke Ranch Apartments, L.P., Templeton Place, L.P., Sequoia Affordable Housing Associates, L.P., Mariposa Reale, L.P., Juniper Street Associates, L.P., Canyon Creek, L.P., Los Adobes De Maria II, Rio Vista Associates, Heath House LLC, Casas Las Granadas, L.P., Lachen Tara, L.P., and Villas at Higuera, L.P. is based solely on the report of the other auditors.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control -related matters that we identified during the audit.

Supplementary Information
Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole.

The accompanying schedule of expenditures of federal awards, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, is presented for purposes of additional analysis and is not a required part of the financial statements. The schedule has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America.

In our opinion, the schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated September 30, 2022, on our consideration of the People's Self -Help Housing Corporation (PSHHC) and subsidiaries internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the People's Self -Help Housing Corporation (PSHHC) and subsidiaries internal control over financial reporting and compliance.

Rancho Cordova, California
September 30, 2022
10850 Gold Center Drive, Suite 260
Sacramento, CA 95670
916/922-5109 FAX 916/641-5200
GBA
cAigerinei-tS

GRANT BENNETT ASSOCIATES

A PROFESSIONAL CORPORATION
Certified Public Accountants
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
www.gbacpa.com
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 3 PEOPLE'S SELF-HELP HOUSING CORPORATION

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
JUNE 30, 2022 AND 2021
2022
Restated
2021
ASSETS
Current Assets
Cash and Cash Equivalents $ 15,030,912 $ 16,495,928
Cash - Resident Assistance 64,591 60,476
Grants Receivable 126,345 196,875
Accounts Receivable (Note C) 5,534,361 1,924,169
Property in Development - Current Portion (Note B) 195,280 16,309,490 Contracts Receivable - Current Portion (Note C) 6,209,179 2,354,704 Prepaid Expenses 653,972 499,341
Total Current Assets 27,814,640 37,840,983
Other Assets
Cash - Property Reserves (Note 0)
Endowment Fund and Other Investments (Note R)
Limited Partnership Deposits (Note N)
Property in Development (Note B)
Contracts Receivable - Long Term (Note C)
Total Other Assets
Notes Receivable (Note F)
Property and Equipment
Less: Accumulated Depreciation of
$70,022,572 & $67,215,559, respectively (Note D)

TOTAL ASSETS
7,143,616
190,207
6,858,127
28, 519,169
4,150,493
5,419,459
188,993
5,847,177
24,851,719
2,411,075
46,861,612 38,718,423
29,709,672 28,191,012
81,320,816 73,712,062
$ 185,706,740 $ 178,462,480

LIABILITIES AND NET ASSETS
Current Liabilities
Accounts Payable / Accrued Liabilities $ 3,642,738 $ 2,610,724 Long -Term Debt -Current Portion (Note I) 4,191,436 3,490,191 Security Deposits Payable 715,923 719,499
Deferred Revenue - Restricted (Note E) 1,406,147 820,961 Total Current Liabilities 9,956,244 7,641,375
Other Liabilities
Construction Warranty Reserve (Note H) 3,370,318 3,090,439 Property Development Reserves (Note G) 267,358 267,358
Total Other Liabilities 3,637,676 3,357,797
Long -Term Debt, less Current Portion (Note I)

TOTAL LIABILITIES

NET ASSETS
89,864,895 85,844,012
103,458,815 96,843,184
Without Donor Restrictions:

Undesignated 79,679,483 77,498,245
Board designated (Note L) 2,122,667 2,122,667
Total Unrestricted 81,802,150 79,620,912
With Donor Restrictions:

Restricted for Specific Purposes (Note L) 255,568 1,809,391 Endowment Fund (Note L) 190,207 188,993
NeighborWorks America Capital Fund (Note L) -
Total Net Assets 82,247,925 81,619,296
TOTAL LIABILITIES AND NET ASSETS $ 185,706,740 $ 178,462,480 See notes to the financial statements
4 PEOPLE'S SELF-HELP HOUSING CORPORATION

CONSOLIDATED STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2022
WITH SUMMARIZED COMPARATIVE TOTALS FOR 2021 Restated
REVENUE, GAINS, & OTHER SUPPORT:

Grant/Contract Revenue
Interest and Dividend Revenue (Note R)
Rental Revenue
Contributions
Non -Financial Asset Contributions
Other Revenue
Gain/(Loss) on Sale of Property (Note J)
Release from restriction
Total revenue, gains and
other support
EXPENSES:
2022
With Donor Restrictions
Restated
2021
Without Donor Restricted for Endowment
Restrictions Specific Purposes Funds Totals Totals
$ 7,978,725 $
1,464,402
11,528,336
14,260
797,813
1,600,544
2,167,447
25,551,527
613,624
(2,167,447)
- $ 7,978,725 $ 7,186,035
244 1,464,646 329,374
11,528,336 11,783,772
970 614,594 648,533
- 14,260
797,813 2,928,343
1,600,544 7,558,164
(1,553,823) 1,214
23,998,918 30,434,221
Progam Services 19,722,023 19,722,023 18,849,903
Supporting Services
Management and General 3,219,696 3,219,696 2,541,012
Fund Development 428,570 428,570 423,664
Total expenses 23,370,289 - - 23,370,289 21,814,579
Revenue Over Expenses 2,181,238 (1,553,823) 1,214 628,629 8,619,642 Additional Capital Contributions/Withdrawals - - - - 170,200 Net assets at beginning of year 79,620,912 1,809,391 188,993 81,619,296 72,829,454

NET ASSETS AT END OF YEAR
$ 81,802,150 $ 255,568 $ 190,207 $ 82,247,925 $ 81,619,296 See notes to the financial statements
5 PEOPLE'S SELF HELP HOUSING CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 Restated
Restated
2022 2021

CASH FLOWS FROM OPERATING ACTIVITIES
Change in net assets $ 628,629 $ 8,619,642
Add back non -cash item
Disposal of Fixed Assets 1,347,506 3,209,386
Depreciation 3,893,959 3,826,205
Accrued Interest 536,380 (764,237)
(Increase)/Decrease in:

Cash - Resident Assistance (4,115) (23,042)
Cash - Property Reserves (1,724,157) (331,849)
Grants Receivable 70,530 (22,616)
Accounts Receivable (3,610,192) 1,841,208
Notes Receivable (1,518,660) (7,194,743)
Prepaid Expenses (154,631) (230,077)
Limited Partnership Deposits (1,010,950) (836,944)
Property in Development 12,446,760 (11,550,684)
Contracts Receivable (5,593,893) 1,272,651
Increase/(Decrease) in:

Accounts Payable / Accrued Liabilities 1,032,014 (541,380) Security Deposits Payable (3,576) (56,541)
Deferred Revenue 585,186 (272,188)
Reserves 279,879 (314,452)
Net Cash Provided (Used) by Operating Activities 7,200,669 (3,369,661)

CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Investments (1,214) (1,625)
Purchase of Property and Equipment (12,850,219) (854,535) Additional Capital Contributions 0 170,200
Net Cash Provided (Used) by Investing Activities (12,851,433) (685,960)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Notes Payable 16,607,911 12,847,080
Payments on Notes Payable (12,422,163) (8,587,405)
Net Cash Provided (Used) by Financing Activities 4,185,748 4,259,675 Net Increase/(Decrease) in Cash and Cash Equivalents (1,465,016) 204,054 Cash and cash equivalents at the beginning of the year 16,495,928 16,291,874 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR $ 15,030,912 $ 16,495,928 Supplementary_ Information:

Interest Paid $ 1,608,512 $ 1,183,835
See notes to the financial statements
6 PEOPLE'S SELF-HELP HOUSING CORPORATION

CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
FOR THE YEAR ENDED JUNE 30, 2022 WITH
SUMMARIZED COMPARATIVE TOTALS FOR 2021 RESTATED
Salaries
Fringe Benefits
Professional Fees
Mileage
Training/Workshops/Conferences
Dues/Subscriptions
Rent
Utilities
Supplies
Postage
Repairs & Maintenance
Telephone
Printing & Copying
Insurance
Rental Property Interest Expense
Rental Property Operating Expense
Interest Expense
Miscellaneous
Depreciation Expense
Depreciation - Rental Properties
Warranty Expense
Capital Expenses
2022
Program
Services
$ 4,695,203 $
1,796,398
283,814
34,197
52,949
6,008
1,726
69,569
276,606
6,284
57,171
80,596
4,515
88,124
1,538,398
7,634,942
11,530
64,845
157,404
3,659,017
486,476
(1,283,749)
Management
and General
Fund
Development
1,549,688 $ 368,379 $
499,809
242,254
1,694
12,143
36,038
104,169
37,632
112,000
3,244
79,307
65,024
13,433
24,684
248,732
121,836
68,009
9,753
575
2,423
4,957
2,671
6,233
1,393
5,529
6,226
7,373
1,406
747
1,376
9,529
Totals
6,613,270 $
2,296,207
535,821
36,466
67,515
47,003
105,895
109,872
394,839
10,921
142,007
151,846
25,321
114,214
1,538,398
7,634,942
261,009
188,057
234,942
3,659,017
486,476
(1,283,749)
Restated
2021
Totals
6,348,368
2,182,498
479,237
28,779
30,186
37,763
192,522
91,370
441,531
14,915
120,298
129,587
16,286
122,324
1,685,181
7,533,612
94,527
107,546
95,075
3,731,130
172,148
(1,840,304)
Total Functional Expenses $ 19,722,023 $ 3,219,696 $ 428,570 $ 23,370,289 $ 21,814,579 See notes to the financial statements
7 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note A: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Background
Incorporated in 1970, People's Self -Help Housing is committed to its mission of building affordable homes with site -based services that offer opportunities to change lives and strengthen communities on the Central Coast of California. The organization serves low- income working families, farmworkers, seniors, and veterans and provides welcoming environments for those living with disabilities and the formerly homeless. Along with building and managing beautiful and accessible neighborhoods which its residents are proud to call home, PSHH also provides a wide range of supportive services which promote resiliency and self-sufficiency. Since its founding, the organization has additionally helped over 1200 households build their own home through a self-help program and with their combination of hard -work and low interest mortgages seen these owner -builders achieve the American dream.

PSHHC's board of directors also serves as board of directors for the following nonprofit corporations:

Ocean View Manor Incorporated, a California nonprofit corporation, was formed to own and operate the Ocean View Manor Apartments, a 40-unit HUD section 202 housing project located in Morro Bay, California. In March 2016, for the purpose of resyndication and rehabilitation of the property, the project asset was sold to Ocean View Manor, L.P., a California limited partnership, and the HUD note was paid -off to convert the project into a low-income housing tax credit project.

Valentine Court Incorporated, a California nonprofit corporation, was formed to own and operate the Valentine Court Apartments, a 35-unit HUD section 202 housing project located in Santa Maria, California. In May 2018, for the purpose of resyndication and rehabilitation of the property, the project asset was sold to Valentine Court, L.P., a California Limited Partnership and the HUD note was paid -off to convert the project into a low-income housing tax credit project.

Valentine Court II, Incorporated, a California nonprofit corporation, was formed to own and operate the Valentine Court II Apartments, a 18-unit HUD section 202 housing project located in Santa Maria, California.

Valentine Court III, Inc., a California nonprofit corporation, was formed to own and operate the Valentine Court III apartment complex, a 9-unit HUD section 811 housing project located in Santa Maria, California.

Los Robles Terrace Incorporated, a California nonprofit corporation, was formed to own and operate the Los Robles Terrace Apartments, a 40-unit HUD section 202 housing project located in Paso Robles, California. In August 2017, for the purpose of resyndication and rehabilitation of the property, the project asset was sold to Los Robles Terrace, L.P., a California Limited Partnership and the HUD note was paid -off to convert the project into a low-income housing tax credit project. 8 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note A: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued Background— Continued
Oceanside Gardens, Inc., Oak Forest Apartments, Inc., Schoolhouse Lane Apartments, Inc., and C-Court Inc. are nonprofit corporations that were formed to participate in low-income housing tax credit projects.

Oak Grove Housing, Inc., a California nonprofit corporation, was formed to own and operate the Creekside Gardens apartment complex, a 29-unit HUD section 202 housing project located in Paso Robles, California.

Chapel Court Housing Corporation, a California nonprofit corporation, was formed to construct and operate the Chapel Court Apartments, a 28-unit USDA section 515 housing project located in Carpinteria, California.

Basis of Accounting
PSHHC's financial statements are presented on the accrual basis of accounting and accordingly reflect all significant receivables, payables, and other liabilities.

Financial Statement Presentation
PSHHC is required to report information regarding its financial position and activities according to two classes of net assets: with donor restrictions and without donor restrictions.

Revenue Recognition
During the fiscal year, the Organization adopted Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) and ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made (Topic 958). These updates clarify the principles for recognizing contract revenue and clarifies accounting guidance for contributions received and made, respectively. Analysis of the provisions of this standard resulted in no significant changes in the way the Organization recognizes revenue, and therefore no changes to the previously issued audited statements were required on a retrospective basis.

The presentation and disclosures of revenue have been enhanced in accordance with the standards.

Cost Allocation
The costs of providing the various programs and activities have been summarized on a functional basis in the statement of activities. Costs are allocated directly to the program or service that is benefited. Certain costs do not benefit a program directly and are classified as general and administrative expenses in the statement of activities.

Peoples' Self -Help Housing allocates common costs based on the ratio of each activity's direct salary & benefit cost to total salaries & benefits expenses. Salaries are based on employees' timecards, which allocate the time and effort recorded to each program directly. Time and effort that does not benefit a program directly is considered a common cost.

Statement of Cash Flows and Cash and Cash Equivalents
For purposes of the statement of cash flows, PSHHC considers all short-term investments with an original maturity of three months or less to be cash equivalents. 9 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note A: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued Accounts / Notes / Grants and Contracts Receivables
PSHHC considers accounts receivable, grants receivable, notes receivable and contracts receivables to be fully collectible; accordingly, no allowance for doubtful accounts is required. If amounts become uncollectible, they will be charged to operations when that determination is made.

Income Tax Status
PSHHC is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and the California Franchise Tax Board code section 23701(d). The Internal Revenue Service has also determined that PSHHC is not a private foundation under IRS Code Section 509(a). Management believes PSHHC has no uncertain tax positions as of June 30, 2022.

Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and the reported revenue and expenses.

Principles of Consolidation
The consolidated financial statements include the accounts of People's Self -Help Housing Corporation, El Patio, L.P., Schoolhouse Lane Apartments, L.P., Oak Forest Associates, L.P., Oceanside Gardens, L.P., Belridge Street Associates, L.P., Storke Ranch Apartments, L.P., Templeton Place, L.P., Sequoia Affordable Housing Associates, L.P., Mariposa Reale Limited Partnership, Juniper Street Associates, L.P., Canyon Creek, L.P., Los Adobes De Maria II, Rio Vista Associates, Casas Las Granadas,L.P., Lachen Tara, L.P. and Villas at Higuera, L.P. All significant interrelated items and transactions have been eliminated in the consolidation.

Capitalization of Assets
Assets purchased with unrestricted grant funds are not depreciated but expensed when purchased. Assets purchased with other unrestricted funds are recorded at cost and depreciated over the useful life of the asset.

The straight-line method of depreciation is applied to fixed assets using the following estimates of useful life.

Building and Improvement 32 or 40 years
Equipment 5 or 10 years
Vehicles 5 years
Acquisition of property and equipment in excess of $5,000 are capitalized. Property and equipment are carried at cost or, if donated, at the approximate fair value at the date of donation. Depreciation is computed using the straight-line method. 10 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note A: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued Comparative Financial Information
The financial statements include certain prior year summarized comparative information in total but not by classification of revenue, expenses, functional expenses and net assets.

Such information does not include sufficient detail to constitute a presentation in conformity with generally accepted accounting principles. Accordingly, such information should be read in conjunction with PSHHC's consolidated financial statements for the year ended June 30, 2021 Restated, from which the summarized information was derived.

Note B: PROPERTY IN DEVELOPMENT
Property in Development represents the accumulated costs including Capitalized Expenses as of June 30, for property and improvements for the following projects:

Project Name
2022 Restated 2021
Current Portion
Templeton Place 2 0 473,376
Future Site Research 195,280 99,473
Isla Vista 0 754,587
Broad Street Property 0 879,269
Pismo Terrace 0 4,182,475
PSH Corporate Office- construction 0 5,135,931
PSH Corporate Office- land & development 0 4,784,379
Total Current Portion 195,280 16,309,490
Long -Term Portion
Nipomo - Branch Street Lots 766,596 546,034
Los Osos Self -Help Lots 445,763 437,852
Mission Garden Lots- Phase II 358,057 189,897
Greenfield - Lots 1,792,974 0
Del Rio Ridge (Atascadero, CA) 2,328,194 2,118,962
Buellton Garden 2,326,208 2,024,211
Chapel Court Expansion 0 4,807
Cypress Place (Oxnard, CA) 6,728,990 5,244,922
Cypress Place II (Oxnard, CA) 71,471 0
Fillmore Terrace 3,372,951 2,693,313
Tiburon Place 0 1,656,474
Los Adobes De Maria I 1,380,512 578,100
Cambria Pines Apartments 2,243,843 1,974,272
Rolling Hills III 3,303,330 2,965,818
Santa Maria - Lots 3,042,246 0
South Bay Apartments II 141,403 136,714
San Luis Ranch 177,682 145,431
Peoples' Place 0 3,203,711
Scattered Site SB- Dahlia Court 1 0 292,558
Scattered Site SB- Ladera 0 268,921
Scattered Site SB- Victoria Street 0 273,916
Future Site Research 38,949 95,806
Total Long Term Portion 28,519,169 24,851,719
TOTAL PROPERTY IN DEVELOPMENT $ 28,714,449 $ 41,161,209 11 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note C: CONTRACTS RECEIVABLE AND ACCOUNTS RECEIVABLE
Contracts receivable consist of the following as of June 30, Project Name
2022 Restated 2021
Current Portion
Atascadero Garden Rehab $ 0 $ 10,805
Isla Vista Rehab 85,103 0
Sierra Madre Cottages 0 14,716
Guadalupe Court 34,529 61,862
Grover Beach 209,397 60,075
Tiburon Place 1,601,278 0
Rolling Hills II 0 16,856
Templeton Place II 99,392 0
Broad Street Place 701,098 0
Pismo Terrace 651,355 0
People's Place 687,115 0
Prepaid General Construction 803,060 810,430
Development Fees 1,336,852 1,379,960
Total Current Portion 6,209.179 2,354,704
Long -Term Portion
Prepaid General Construction 103,607 228,483
Development Fees 4,046,887 2,182,592
Total Long -Term Portion 4,150,494 2,411,075
TOTAL CONTRACTS RECEIVABLE $ 10,359,673 $ 4,765,779
12 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note C: CONTRACTS RECEIVABLE AND ACCOUNTS RECEIVABLE - Continued Accounts receivable consist of the following as of June 30, Description 2022
The Duncan Group
Due from Rental Properties
Construction Costs Advanced to Rental Properties
Frontline Fees
Partnership Management Fees
Self -Help Family Project Advances
Other
El Patio Hotel L.P. Consolidated A/R
Heath House LLC, Consolidated A/R
Oceanside Gardens L.P. Consolidated A/R
Belridge L.P. Consolidated A/R
Storke Ranch L.P. Consolidated A/R
Schoolhouse Lane Apartments Consolidated A/R
Templeton Place L.P. Consolidated A/R
Sequoia Affording Housing Associates, L.P. Consolidated A/R Mariposa Real L.P. Consolidated A/R
Juniper Street Associates L.P. Consolidated A/R
Los Adobes de Maria II L.P. Consolidated A/R
Rio Vista Associates L.P. Consolidated A/R
Canyon Creek L.P. Consolidated A/R
Villas at Higuera L.P. Consolidated A/R
Lachen Tara L.P. Consolidated A/R
$ 232,382
2,578,461
2,242,891
9,838
346,183
37,715
23,568
7,275
8,683
51 0
6 2,580
10,773
2,830
3,563
12,671
11,049
3,777
0 4
61 Restated
2021
$ 65,838
958,135
353,389
4,327
401,649
63,804
15,630
7,767
50 437
2,343
1,800
535
2,860
2,563
10,189
4,837
5,998
10,464
9,767
547
1,240
TOTAL ACCOUNTS RECEIVABLE $ 5,534,361 $ 1,924,169
Note D: PROPERTY AND EQUIPMENT
Property and equipment as of June 30 consist of the following:
2022
Land
Buildings and Improvements
Furniture, Fixtures and Equipment
Accumulated Depreciation
$ 21,756,299 $
124,760,215
4,826,874
(70,022,572)
TOTAL $ 81,320,816 $
Restated
2021
20,059,158
116,246,269
4,622,194
(67,215,559)
73,712,062
Property consists of 897 rental units in 30 projects and three administrative offices. 13 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note E: DEFERRED REVENUE
Deferred revenue, which represents grants and other income received but not yet earned, consists of the following at June 30:

Rent
T/A Grants
Tenant Grants
College Club
Education Center — Los Adobes De Maria
CII Program
Neighbor Works
Education Center — General
Education Center — MPT
Builder Games
Land Development & Research
Unrestricted
Misc. Grants

TOTAL DEFERRED REVENUE
Note F: NOTES RECEIVABLE
2022
$ 41,731
14,808
12,533
4,571
10,647
11,420
981,086
136,686
0 11,383
159,444
21,838
0 $ 1,406,147
Restated
2021
$ 36,344
0 21,707
8,571
0 15,000
656,414
75,757
2,000
0 0
1,387
3,780
$ 820,960
There are two classifications for People's Self -Help Housing Corporations' notes receivable. First, there are loans granted to low- and moderate -income households for assistance in the purchase of new homes and the rehabilitation of existing homes. These loans are traditionally second trust deeds made in accordance with the restrictions of the lenders and grantors that fund these programs. Interest rates range from 0% to 4%.

Terms are for up to 33 years. The loans are generally due on sale or refinance. All loans are secured by a deed of trust. No loans were delinquent as of June 30, 2022. As of June 30, 2022 and 2021, the balance of the family notes is $2,187,976 and $2,185,456, respectively. Second, PSHHC granted subordinate deferred payment notes to entities that own affordable housing apartments that rent to very low, low and moderate income households. These loans provided financing for the rehabilitation and construction of affordable housing units in San Luis Obispo and Santa Barbara counties. The principal and interest is deferred through maturity and residual cash receipts generated by these affordable housing projects may provide annual payments. Typically, the interest rate ranges from 0% to 3%. All loans are secured by a deed of trust. As of June 30, 2022 and restated 2021, the balance of the affordable housing development notes is $27,521,696 and $26,005,556, respectively.
14 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note G: PROPERTY DEVELOPMENT WARRANTY RESERVE
The property development reserve was established to cover the exposure that PSHHC has to the limited partners of the tax credit projects for operating deficits and for certain economic projections as defined by the indemnification agreement. PSHHC's policy was to set-up 15% of its developer fee for this exposure. As of June 30, 2022 and 2021, the balance of the property development reserve is $267,358 and $267,358, respectively.

Note H: CONSTRUCTION WARRANTY RESERVE
The construction warranty estimated liability as of June 30, 2022 and 2021 are $3,370,318 and $3,090,439, respectively, and are established as a reserve for possible construction repairs and additional costs associated with completed self-help projects. Included in this balance is a general construction warranty estimated liability. As of June 30, 2022 and 2021 general contractors warranty reserve was $3,235,753 and $2,895,402, respectively, and was established in the prior fiscal years as a reserve for possible construction repairs and additional costs associated with performing as the general contractor on multi -family projects completed through June 30, 2022.

Note I: LONG-TERM DEBT
Long-term debt consists of the following as of June 30, 2022:

Lending Institution Purpose
Secured by
Maturity
Date Rate Balance
Notes Payable — General Operating, Construction, and Development Wells Fargo Bank General Operations Unsecured 5/22/2027 2.00% 500,000 Duncan Group Affordable Hsing Dev Unsecured LOC 12/31/2022 3.00% 500,000 Community Housing Capital, Inc. Purchase of Property Atascadero, CA (Land) 9/26/2022 6.00% 738,000 Community Housing Capital, Inc Multifamily Project Atascadero, CA (Land) 9/26/2022 4.25% 250,000 County of San Luis Obispo Cambria Land Cambria Land 7/17/2026 0.00% 540,000 United Methodist Church General Operations Unsecured None 0.00% 11,000 Premier Valley Bank New Office — Permanent Ln San Luis Obispo, CA (Land) 2/14/2032 3.90% 8,156,331 Private Individual Social Impact Note San Luis Obispo, CA (Land) 4/1/2026 3.00% 400,000 Housing Trust Fund of Santa Barbara Buellton Land in Buellton, CA 6/25/2026 3.75% 1,600,000 Housing Trust Fund of San Luis Obispo County Multifamily Project Cambria Water Units 12/23/2022 5.00% 270,738 NW Capital — Fillmore Land Fillmore Land Land in Fillmore, CA 12/1/2022 5.25% 1,190,000 Housing Trust Fund of San Luis Obispo County Rollings Hills III Land in Templeton, CA 11/1/2023 5.50% 1,600,000 Housing Trust Fund of San Luis Obispo County Rollings Hills III Water Units Water Units 11/1/2023 5.50% 291,667 Housing Assistance Council SHH — Mustang Families Unsecured 3/13/2025 0.00% 94,500 Housing Trust Fund of San Luis Obispo County Self -Help Housing Devel Land in Nipomo, CA 9/1/2025 4.95% 400,000 NW Capital — Cypress Land Oxnard (Cypress) Land Land in Oxnard, CA 11/1/2023 5.75% 3,612,500 Housing Trust Fund of Ventura County Oxnard (Cypress) Acqui Land in Oxnard, CA 10/15/2023 4.00% 637,500 Housing Trust Fund of Ventura County Oxnard (Cypress) PreDev Land in Oxnard, CA 10/15/2023 4.00% 212,500 Housing Trust Fund of Ventura County Fillmore PreDev Land in Fillmore, CA 4/25/2025 4.00% 1,000,000 Rural Community Assistance Corporation SHH - Greenfield Unsecured 9/1/2023 5.00% 1,515,500 Pacific Western Bank SHH — Santa Maria Land in Santa Maria, CA 3/9/2024 6.00% 1,885,000 Housing Trust Fund of Santa Barbara County SHH — Santa Maria Land in Santa Maria, CA 3/1/2024 4,50% 900,000 City of Santa Maria CDBG LDM2 Rehab Capital Unsecured 7/1/2030 0.00% 221,220 Total Notes Payable — General Operating, Construction, and Development 26,526,456 15 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note I: LONG-TERM DEBT — Continued
Lending Institution Purpose
Secured by
Maturity
Date Rate Balance
Notes Payable (Rental Properties): Conventional Loans
Pacific Western Bank Atascadero Gardens Apt. Building/Land 12/20/31 4.25% 932,188 Pacific Life Belridge Apt. Building/Land 3/1/2031 7.24% 123,768 Wells Fargo Bank Casas Las Granadas Apt. Building/Land 9/1/2037 6.10% 33,828 JP Morgan Chase Canyon Creek Apts. Apt. Building/Land 7/1/2037 6.78% 1,174,125 US Department of Agriculture Canyon Creek Apts. Apt. Building/Land 12/1/2039 1.00% 226,352 Rural Community Assistance Corp. Canyon Creek Apts. Apt. Building/Land 2/1/2029 1.00% 494,886 Mechanics Bank Dahlia CourtApts. Apt. Building/Land 12/1/2029 3.25% 1,507,191 Rural Community Assistance Corp. Dahlia Court Apts. Apt. Building/Land 3/1/2029 1.00% 128,999 Montecito Bank & Trust Ellwood Apartments Apt. Building/Land 4/5/2036 5.25% 374,845 Pacific Life Juniper St Apts. Apt. Building/Land 6/1/2030 8.28% 129,555 Pacific Life La Brisa Apt. Building/Land 4/1/2032 7.09% 300,973 Union Bank Ladera Apartments Apt. Building/Land 3/1/2028 6.25% 1,237,038 US Department of Agriculture Los Adobes De Maria Apt. Building/Land 10/1/2029 8.05% 595,553 US Department of Agriculture Los Adobes De Maria II Apt. Building/Land 7/1/2037 1.00% 1,231,689 Greystone Servicing Corp. Mariposa Townhomes Apt. Building/Land 4/1/2031 4.75% 2,238,303 California Community Reinvestment Corp. Oak Forest Apt. Building/Land 1/1/2028 4.00% 97,943 US Department of Agriculture Pacific Views Apts. Apt. Building/Land 2/25/2041 8.75% 1,111,674 Rural Community Assistance Corp. Rio Vista Associates Apt. Building/Land 2/1/2029 1.00% 89,833 Berkadia River View Townhomes Apt. Building/Land 6/1/2034 5.44% 1,327,768 Pacific Life Schoolhouse Lane Apt. Building/Land 4/1/2028 4.11% 83,732 Mechanics Bank Sea Haven Apts. Apt. Building/Land 3/15/2028 4.25% 26,702 CA Housing Finance Agency Storke Ranch Apt. Building/Land 7/1/2035 6.75% 945,637 Pacific Western Bank Victoria Hotel Apt. Building/Land 12/20/31 4.25% 2,176,134 Montecito Bank & Trust Victoria St. Bungalows Apt. Building/Land 5/1/2035 1.84% 546,024 Chase Villas at Higuera Apt. Building/Land 11/1/2038 7.69% 497,313 Mechanics Bank Villas at Higuera Commercial Units 8/1/2029 6.00% 300,580 Total Notes Payable (Rental Properties): Conventional Loans 17,932,634 Notes Payable (Rental Properties): Deferred Principal Payments County of San Luis Obispo (HOME) Belridge Apt. Building/Land 12/29/2039 5.00% 615,825 City of Santa Barbara (HOME) Casas Las Granadas Apt. Building/Land 1/1/2064 0.00% 1,541,855 Coast National Bank (AHP) Casas Las Granadas Apt. Building/Land 3/1/2062 0.00% 72,000 Bank of the West Canyon Creek Apts. Apt. Building/Land 6/18/2034 0.00% 400,000 California Department of HCD Canyon Creek Apts. Apt. Building/Land 6/1/2059 3.00% 1,544,083 County of San Luis Obispo HOME Canyon Creek Apts. Apt. Building/Land 6/1/2039 0.00% 550,000 City of Paso Robles Canyon Creek Apts. Apt. Building/Land 6/1/2059 3.00% 462,752 California Department of HCD (HOME) Cawelti Court Apt. Building/Land 8/31/2025 0.00% 875,277 City of Arroyo Grande — CDBG Cawelti Court Apt. Building/Land 8/13/2031 0.00% 340,359 City of Carpinteria Dahlia Court Apts. Apt. Building/Land 12/6/2029 3.00% 245,763 County of Santa Barbara (HOME) Dahlia Court Apts. Apt. Building/Land 10/24/2040 4.50% 587,249 County of Santa Barbara (CDBG) Dahlia Court Apts. Apt. Building/Land 9/12/2041 3.00% 262,492 CA Tax Credit Allocation Committee (TCAC) El Patio Hotel Apt. Building/Land 6/1/2065 0.00% 2,142,136 City of Ventura (HOME-CHDO) El Patio Hotel Apt. Building/Land 12/7/2064 3.00% 486,606 City of Ventura RDA El Patio Hotel Apt. Building/Land 12/9/2064 3.00% 463,846 California Department of HCD (FWHG) Ellwood Apartments Apt. Building/Land 12/31/2046 0.00% 220,000 City of Goleta (HOME) Ellwood Apartments Apt. Building/Land 5/3/2036 0.00% 200,000 City of Santa Barbara CDBG Ellwood Apartments Apt. Building/Land 5/3/2036 3.00% 415,535 City of Santa Barbara (HOME) Ellwood Apartments Apt. Building/Land 5/3/2036 3.00% 623,020 16 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note I: LONG-TERM DEBT — Continued
Maturity
Lending Institution Purpose Secured by Date Rate Balance Housing Trust Fund of Santa Barbara County Health House LLC Apt. Building/Land 3/17/2060 4.38% 238,571 County of Santa Barbara of HCD Health House LLC Apt. Building/Land 3/10/2035 3.00% 557,018 California Department of HCD (HOME-CHDO) Juniper Street Apts Apt. Building/Land 12/22/2028 3.00% 799,411 County of San Luis Obispo HOME La Brisa Apt. Building/Land 12/19/2040 5.05% 1,742,884 California Department of HCD (FWHG) La Brisa Apt. Building/Land 12/3/2041 0.00% 500,000 Dept Housing & Comm Development (HCD:

MHP) Lachen Tara Apt. Building/Land 6/30/2064 3.00% 1,964,268 Dept Housing & Comm Development (HCD
JSFWHG) Lachen Tara Apt. Building/Land 12/4/2062 3.00% 820,895 County of San Luis Obispo (HOME) Lachen Tara Apt. Building/Land 12/31/2064 3.00% 3,073,601 County of San Luis Obispo (CDBG) Lachen Tara Apt. Building/Land 7/2/2062 0.00% 500,000 People's Self -Help Housing Corp Lachen Tara Apt. Building/Land 7/1/2062 1.00% 41,758 City of Santa Barbara (CDBG — HRLP) Ladera Apartments Apt. Building/Land 3/1/2028 3.00% 720,829 City of Santa Barbara RDA Ladera Apartments Apt. Building/Land 3/1/2028 3.00% 1,050,269 Mechanics Bank Los Adobes De Maria II Apt. Building/Land 7/22/2032 0.00% 260,000 County of Santa Barbara (HOME) Los Adobes De Maria II Apt. Building/Land 7/19/2057 3.00% 674,958 California Department of HCD (FWHG) Los Adobes De Maria II Apt. Building/Land 7/18/2057 3.00% 3,975,496 County of Santa Barbara (HOME) Mariposa Townhomes Apt. Building/Land 10/22/2038 3.00% 1,362,770 Montecito Bank & Trust Mariposa Townhomes Apt. Building/Land 10/1/2033 0.00% 258,381 California Department of HCD (HOME-CHDO) Oak Forest Apt. Building/Land 8/13/2026 3.00% 1,627,147 City of Arroyo Grande (CDBG) Oak Forest Apt. Building/Land 8/1/2026 0.00% 445,000 California Department of HCD (HOME-CHDO) Oceanside Gardens Apt. Building/Land 4/7/2025 0.00% 1,000,000 City of Morro Bay (CDBG) Oceanside Gardens Apt. Building/Land 12/15/2024 0.00% 40,000 City of Morro Bay (CDBG) Oceanside Gardens Apt. Building/Land 12/15/2024 0.00% 68,000 California Department of HCD (FWHG) Rio Vista Associates Apt. Building/Land 2/6/2042 3.00% 1,598,905 California Department of HCD (HOME) Rio Vista Associates Apt. Building/Land 5/20/2034 3.00% 1,264,393 County of San Luis Obispo (HOME) Schoolhouse Lane Apt. Building/Land 11/21/2026 0.00% 330,000 California Department of HCD (HOME-CHDO) Sea Haven Apts. Apt. Building/Land 3/9/2028 3.00% 1,453,608 City of Morro Bay (CDBG) Sequoia Apartments Apt. Building/Land 8/17/2028 0.00% 50,000 City of Morro Bay (CDBG) Sequoia Apartments Apt. Building/Land 10/1/2027 0.00% 425,500 CA Department of HCD (DDS) Storke Ranch Apt. Building/Land 5/21/2032 0.00% 186,830 County of Santa Barbara RDA Storke Ranch Apt. Building/Land 7/2/2033 0.00% 106,000 County of San Luis Obispo — CDBG Templeton Place Apts Apt. Building/land 1/14/2040 3.00% 334,783 County of San Luis Obispo — HOME Templeton Place Apts Apt. Building/Land 1/14/2040 3.00% 703,045 City of Santa Barbara (HOME) Victoria Hotel Apt. Building/Land 8/1/2029 3.00% 1,022,862 City of Santa Barbara (CDBG) Victoria Hotel Apt. Building/Land 8/1/2029 3.00% 651,433 City of Santa Barbara (HOME) Victoria St. Bungalows Apt. Building/Land 8/1/2033 3.00% 739,297 City of Santa Barbara (HOME-CHDO) Victoria St. Bungalows Apt. Building/Land 10/1/2027 3.00% 452,658 City of Santa Barbara RDA Victoria St. Bungalows Apt. Building/Land 10/1/2027 0.00% 295,000 Coast National Bank (AHP) Villas at Higuera Apt. Building/Land 2/16/2062 4.00% 289,596 County of San Luis Obispo (HOME) Villas at Higuera Apt. Building/Land 11/1/2036 3.00% 1,343,192 City of San Luis Obispo Villas at Higuera Apt. Building/Land 9/25/2061 3.00% 896,529 City of San Luis Obispo (CDBG) Villas at Higuera Apt. Building/Land 10/27/2061 3.00% 340,667 Total Notes Payable (Rental Properties): Deferred Principal Payments 46,254,352 17 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note I: LONG-TERM DEBT — Continued
Lending Institution
Notes Payable (Rental Properties): Forgiven or
County of San Luis Obispo (HOME)
City of Atascadero (CDBG)
County of San Luis Obispo (HOME)
California Department of HCD (FWHG)
City of SB Home Recoverable Grant
County of Santa Barbara HEAP
Pacific Western Bank AHP
County of Ventura
California Department of HCD (FWHG)
Coast National Bank (AHP)
Santa Barbara Bank & Trust (AHP)
County of San Luis Obispo (CDBG)
County of Santa Barbara (HOME)
Santa Barbara Bank & Trust (AHP)
Purpose
Recoverable Grants
Atascadero Apts
Atascadero Apts
Brizzolara Apts.

Dahlia Court Apts
Health House LLC
Health House LLC
El Patio Hotel
El Patio Hotel
Isla Vista Apartments
Lachen Tara
Ladera Apartments
Sea Haven Apts.

Storke Ranch
Victoria Hotel
Total Notes Payable (Rental Properties): Forgiven or Recoverable Grants Notes Payable — Rental Properties
Total Long -Term Debt
Current Portion
Long Term Debt Less Current Portion
Secured by
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Apt. Building/Land
Maturity
Date
12/22/2028
10/25/2028
12/22/2027
10/24/2020
3/11/2030
6/1/2036
1/20/2025
12/4/2064
9/14/2021
5/15/2022
3/ 1 /2013
7/31/2027
7/2/2033
10/17/2015
Rate Balance

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

3.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%
Aggregate Principal payments for the next five fiscal years are as follows:
2023 2024 2025 2026 2027
$4,191,436 $11,922,436 $3,763,458 $4,108,397 $5,435,688 NOTES PAYABLE — MATURED NOTES
Thereafter
$64,634,916
The notes payable listed below matured as of June 30, 2022. The notes are secured by a deed there is an obligation to repay the notes upon sale of the secured assets. These notes will remain until the deed of trust is reconveyed. However, these notes were not due upon the maturity date obligation is forgiven by meeting affordability requirements, which the organization met for the to loans.
150,000
80,000
200,000
500,000
335,000
500,000
352,000
206,435
300,000
231,000
100,495
131,959
74,000
182,000
3,342,889
67,529,875
94,056,331
(4,191,436)
$ 89,864,895
of trust and
as a liability
because the
rms of these
Lending
Institution
Property Name
Secured by
Note
Type
Maturity
Interest
Balance

SANTA BARBARA

BANK & TRUST
(AHP)
Ladera
Apartments
Apt.

Building/Land
Forgiven
3/1/13

0.00%
100,495

CALIFORNIA

DEPARTMENT

OF HCD (FWHG)
Dahlia Court
Apartments
Apt.

Building/Land
Forgiven
10/24/20

0.00%
500,000

CALIFORNIA

DEPARTMENT

OF HCD (FWHG)
Isla Vista
Apartments
Apt.

Building/Land
Forgiven
9/14/21

0.00%
300,000
COAST

NATIONAL BANK
(AHP)
Lachen Tara
Apt.

Building/Land
Forgiven
5/16/22

0.00%
231,000

SANTA BARBARA

BANK & TRUST
(AHP)
Victoria Hotel
Apt.

Building/Land
Forgiven
10/17/15

0.00%
182,000
18 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note J: GAIN OR (LOSS) ON SALE OF PROPERTY
Gain or (Loss) on Sale of property for the year ended June 30 consists of the following:
2022 2021
Gross Sales
Cost of Property Sold

GAIN OR (LOSS) ON SALE OF

PROPERTY
$ 8,816,500 $ 13,140,000
7,215,956 5,581,836
$ 1,600,544 $ 7,558,164
In March 2022, People's Self -Help Housing sold the land and improvements located at 3533 Empleo Street in San Luis Obispo CA. The value of the property was $2,766,500 and the cost of the depreciated building and personal property was $1,453,067, which resulted in a gain on sale of $1,313,433.

Note K: PENSION PLAN
PSHHC established a defined contribution profit sharing pension plan, effective July 1, 2009.

PSHHC contributes a percentage of compensation for all eligible employees. Employees become vested 25% after two years of service, 50% after three years, 75% after four years, and 100% after five years. PSHHC's contribution, which is included in fringe benefits, for the years ended June 30, 2022 and 2021 is $448,076 and $433,134, respectively. PSHHC also maintains a separate 403(b) plan to which employees may make voluntary contributions.

Note L: NET ASSETS
As of June 30, the board designated net assets consist of the following:

Restated
2022 2021
Land Development Fund $ 1,000,000 $ 1,000,000
Housing Development Fund 750,000 750,000
SLO County Affordable Housing Fund 372,667 372,667
TOTAL DESIGNATED NET ASSETS $ 2,122,667 $ 2,122,667
Net assets with donor restrictions are restricted for the following purposes:
2022 2021
Affordable Housing Development $ 69,880 $ 1,606,534
Scholarships 43,062 50,077
Education Programs 1,294 25,130
Resident Assistance Fund 85,695 80,146
Women's Fund 16,879 9,246
Builder Games 5,177 5,177
Tenant Assistance- Grandview 33,081 33,080
Tenant Assistance- Heath House 500

TOTAL NET ASSETS RESTRICTED FOR
SPECIFIC PURPOSES $ 255,568 $ 1,809,391
19 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note L: NET ASSETS - Continued
Donor -restricted in perpetuity include the endowment funds and items of land, buildings or equipment which consist of gifts and bequests accepted with the donor stipulation that the principal or fixed asset item be restricted in perpetuity. PSHHC maintains an endowment fund. The earnings from the perpetual endowment will provide a permanent source of funding for educational and other support services for residents of PSHHC's rental properties. The balance of endowment funds as of June 30, 2022 and 2021 is $190,207 and $188,993 respectively.

Endowment net assets consist of donor -restricted funds pertain to the following:
2022 2021
NeighborWorks America Capital Fund $ 0 $ 0
Donor Restricted Endowment Funds 190,207 188,993
TOTAL Endowment Funds $ 190,207 $ 188,993
Note M: CONTINGENT LIABILITIES
Property Development and General Contractor Reserve
PSHHC is contingently liable to investors for the operations of low-income housing tax credit projects and unfunded operating deficit guarantees the amount of which cannot be reasonably determined. Management has accrued a reserve included as part of the Property Development Reserve (See Note H). Management is not aware of any current operational problems, nor does it expect any in the future.

Construction Completion Guarantees
PSHHC is contingently liable to lenders for the outstanding principle of certain construction loans used to finance low-income housing projects until the project is completed and the construction loan is repaid. PSHHC believes the obligation to fund these guarantees is remote based on the fact PSHHC is the general contractor and provides ownership interest in the completed project. Additionally, the guarantees are secured by the value of the property. The guarantees as of June 30, 2022 are listed below.

Related Party
Location
Guarantee Amount
Expires
Templeton Place II, L.P.

Templeton, CA
$10,500,000
5/1/2023
Broad Street Place, L.P.

San Luis Obispo, CA
$16,490,000
6/10/2023
Isla Vista Apartments, L.P.

Goleta, CA
$14,283,120
6/1/2023
Pismo Terrace, L.P.

Pismo Beach, CA
$17,773,720
1/18/2024
Peoples Place, L.P.

Santa Paula, CA
$29,600,000
7/8/2024
Tiburon Place, L.P.

San Luis Obispo, CA
$28,240,991
6/1/2025
20 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note N: RELATED PARTIES
The following non-profit organizations are related to each other due to overlapping Board of Directors membership:

Due to PSHHC Due from PSHHC
Entity Name Type 6/30/2022 6/30/2022
The Duncan Group Property Management $ 171,097 $ 500,000 Peoples Opportunity Fund Board is PSH Staff 0 0
South Bay Improvement Association Controlled by PSHHC 0 0 Valentine Court, Inc. HUD Property 0 0
Valentine Court II, Inc. HUD Property 0 0
Valentine Court III, Inc. HUD Property 23,026 0
Los Robles Terrace, Inc. HUD Property 0 0
Ocean View Manor, Inc. HUD Property 0 0
Oak Grove Housing, Inc. HUD Property 0 0
Oceanside Gardens, Inc. General Partner in LP 0 0
Schoolhouse Lane Apartments, Inc. General Partner in LP 0 0 C-Court, Inc. General Partner in LP 0 0
Oak Forest Apartments, Inc. General Partner in LP 0 0
Health House LLC PSHHC is Single Member 0 0
The non-profit organizations noted above serve as the general partner in some of the following tax credit limited partnerships:

Due to PSHHC Due from PSHHC
Entity Name Type 6/30/2022 6/30/2022
Storke Ranch Apartments, L.P. Tax Credit Limited Partnership $ 0 $ 0 Belridge Street Associates, L.P. Tax Credit Limited Partnership 0 0 El Patio, L.P. Tax Credit Limited Partnership 0 0
Templeton Place, L.P. Tax Credit Limited Partnership 0 0 Sequoia Housing Assoc., L.P. Tax Credit Limited Partnership 0 0 Mariposa Reale, L.P. Tax Credit Limited Partnership 0 0 Oak Forest, L.P. Tax Credit Limited Partnership 0 0
Juniper Street Associates, L.P. Tax Credit Limited Partnership 0 0 Oceano Apartments Associates, L.P. Tax Credit Limited Partnership 0 0 Oceanside Gardens, L.P. Tax Credit Limited Partnership 0 0 Schoolhouse Lane Apartments, L.P. Tax Credit Limited Partnership 0 0 Casa de las Flores, L.P. Tax Credit Limited Partnership 0 0 Casas Las Granadas, L.P. Tax Credit Limited Partnership 0 0 Canyon Creek, L.P. Tax Credit Limited Partnership 0 0
College Park, L.P. Tax Credit Limited Partnership 174,899 0 Creston Gardens, L.P. Tax Credit Limited Partnership 581,752 0 Dahlia Court II, L.P. Tax Credit Limited Partnership 0 0 Jardin de las Rosas, L.P. Tax Credit Limited Partnership 776,483 0 Lachen Tara, L.P. Tax Credit Limited Partnership 0 0
Los Adobes de Maria III, L.P. Tax Credit Limited Partnership 657,673 0 Los Robles Terrace, L.P. Tax Credit Limited Partnership 780,327 0 Ocean View Manor, L.P. Tax Credit Limited Partnership 0 0 Rio Vista Associates, L.P. Tax Credit Limited Partnership 0 0 Rolling Hills Housing Assoc., L.P. Tax Credit Limited Partnership 87,299 0 Rolling Hills II, L.P. Tax Credit Limited Partnership 0 0 Valentine Court, L.P. Tax Credit Limited Partnership 20,071 0 Village at Los Carneros, L.P. Tax Credit Limited Partnership 0 0 Villas at Higuera, L.P. Tax Credit Limited Partnership 0 0 Villa La Esperanza, L.P. Tax Credit Limited Partnership 0 0 21 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note N: RELATED PARTIES - Continued
Cambria Pines Apartments, L.P.

Courtland Street Apartments, L.P.

Guadalupe Court, L.P.

Sierra Madre Cottages, L.P.

Los Adobes de Maria II, L.P.

Peoples Place, L.P.

Pismo Terrace, L.P.

Pismo Creek, L.P.

Isla Vista
Tiburon Place, L.P.

Broad Street Place
Templeton Place II
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Tax Credit Limited
Partnership
Partnership
Partnership
Partnership
Partnership
Partnership
Partnership
Partnership
Partnership
Partnership
Partnership
Partnership
15,000
0 185,838
155,600
0 75,000
125,000
21 0
225,000
0 270,000
PSHHC is a Managing Member or Partner and made deposits in the form of capital contributions to the following related entities::

Casa de Las Flores L.P.

Courtland LP
Creston Gradens, L.P.

Broad Street Place, L.P.

Dahlia Court II, L.P.

Guadalupe Court Apartments, L.P
Jardin de las Rosas, L.P.

Los Adobes de Maria III, L.P.

Los Robles Terrace, L.P.

Ocean View Manor, LP
Peoples Place, L.P.

Pismo Creek, L.P.

Pismo Terrace, L.P.

Rolling Hills II, L.P.

Sierra Madre Cottages, L.P.

Templeton Place II, L.P.

Tiburon Place, L.P.

Valentine Court III, Inc.

Village at Los Carneros, L.P.

Restated
6/30/2022 6/30/2021
$ 257,650
993,188
100
400,000
1,040,000
213,333
25,100
100
100
100
330,750
0 100
94 100
25,100
680,100
28,776
690,000
$ 257,650
993,188
100
400,000
1,040,000
213,333
25,100
100
100
100
0 282
0 100
100
0 0
28,776
690,000
The Company, or related parties, acts as the general partner in limited partnerships. Under FASB Topic, Consolidation — Control of Partnerships and Similar Entities certain general partners are required to consolidate those partnerships. The Company believes that because it is subject to regulations and restrictions that limit their powers as general partner, these regulations and restrictions overcome the presumption of control by the general partner. Therefore, these limited partnerships have not been consolidated.

Note 0: CASH — PROPERTY RESERVES
Cash — property reserves consist of cash account balances for building replacement reserves as required by the funding sources. Withdrawal from building replacement reserves requires approval from the funding sources. The reserve amounts are $7,143,616 and $5,419,459 for the year 2022 and 2021, respectively. 0 0
0 0
0 0
0 0
0 0
0 0
22 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note P: INDIRECT COST
A negotiated indirect cost agreement was approved by the U.S. Department of interior, National Business Center for the U.S. Department of Agriculture, Rural Housing Service on April 5, 2022. The method for calculating PSHHC's indirect rate is the total indirect cost divided by the total direct salaries and fringe Tess unrestricted salary and fringe. The current year's predetermined indirect cost rate is 34.50%.

Note Q: ENDOWMENT FUND
The Organization's endowment consists of one fund established to hold donor -restricted gifts in perpetuity. As required by generally accepted accounting principles, net assets associated with endowment funds are classified and reported based on the existence or absence of donor -imposed restrictions.

The Board of Directors of the Organization has interpreted the State Prudent Management of Institutional Funds Act (SPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor -restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the Organization classifies as donor -restricted net assets (a) the original value of gifts donated to the permanent endowment, and (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor -restricted endowment fund that is not classified in not subject to appropriation or expenditure is classified as subject to expenditure for specific purpose until those amounts are appropriated for expenditure by the Organization in a manner consistent with the standard of prudence prescribed by SPMIFA. In accordance with SPMIFA, the Organization considers the following factors in making a determination to appropriate or accumulate donor -restricted endowment funds: (1) the duration and preservation of the fund, (2) the purposes of the donor -restricted endowment fund, (3) general economic conditions, (4) the possible effect of inflation and deflation, (5) the expected total return from income and the appreciation of investments, (6) other resources of the Organization, and (7) the Organization's investment policies.

Investment Return Objectives, Risk Parameters and Strategies. The Organization has adopted investment and spending policies, approved by the Board of Directors, for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment fund while also maintaining the purchasing power of those endowment assets over the long term. Accordingly, the investment process seeks to achieve an after- cost total real rate of return, including investment income as well as capital appreciation, which exceeds the annual distribution with acceptable levels of risk. 23 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note Q: ENDOWMENT FUND - Continued
Endowment assets are invested in a well -diversified asset mix, which includes equity and debt securities, that is intended to result in a consistent inflation -protected rate of return that has sufficient liquidity to make an annual distribution of 5%, while growing the fund if possible. Therefore, the Organization expects its endowment assets, over time, to produce an average rate of return of approximately 8% annually. Actual returns in any given year may vary from this amount. Investment risk is measured in terms of the total endowment fund; investment assets and allocation between asset classes and strategies are managed to not expose the fund to unacceptable levels of risk.

Spending Policy. The Organization has a policy of appropriating for each year 5% of the fund's average fair value, measured at the end of the last three fiscal years. In establishing this policy, the Organization considered the long-term expected return on its investment assets, the nature and duration of the endowment fund, which must be maintained in perpetuity because of donor restrictions, and the possible effects of inflation. The Organization expects the current spending policy to allow its endowment funds to grow at a nominal average rate of 3% annually. This is consistent with the Organization's objective to maintain the purchasing power of the endowment assets as well as provide additional real growth through new gifts and investment return.

Endowment Net Assets by Type of Fund as of June 30, 2022 is as follows:

Donor -Restricted $
Endowment Funds
Net Subject to
Appropriation or
Expenditure
190,207 $
Total Net
Endowment
Funds
Changes in endowment net assets as of June 30, 2022 are as follows:

Net Subject to
Appropriation or
Expenditure
Endowment Net Assets, Beginning of Year $ 188,993 $
Investment Income 1,214
Endowment Net Assets, End of Year $ 190,207 $
190,207
Total Net
Endowment
Assets
188,993
1,214
190,207
24 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note R: INVESTMENTS
Investments, carried at fair value based on quoted prices in active markets (all Level 1 measurements), consist of the following at June 30:

Cash and cash equivalents, donor restricted —
Endowment Fund
$
2022 2021
190,207 $
188,993
Total Investments carried at market value $ 190,207 $ 188,993 Investment returns, which are reported under interest and dividend revenue in the Statement of Activities, for the years ended June 30, 2022 and 2021 are summarized as follows:

Investment income
Net realized and unrealized gain/(loss)
Total investment return/(loss)
$
$
2022 2021
1,214 $ 1,625
1,214 $ 1,625
Note S: LIQUIDITY AND AVAILABILITY OF RESOURCES
The following reflects the Organization's financial assets as of the balance sheet date, reduced by amounts not available for general use because of contractual or donor - imposed restrictions within one year of the balance sheet date. Donor -restricted amounts that are available for use within one year:

Cash and Cash Equivalents
Cash Resident Assistance Fund
Accounts Receivable
Grants Receivable
Contracts Receivable (Current)
Total Financial Assets
Less those unavailable for general expenditures within one year due to:

Board Designated Acquisition Fund
SLO Community Foundation Endowment Fund
Donor Restricted Resident Assistance Fund
Donor Restricted to Payments for Program Specific Costs Reserves Restricted by Loans and Regulatory Agreements
Tenant Restricted Security Deposits
Donor Restricted for Purchases of Land and Equipment (Capital) Financial assets available to meet cash needs for general expenditures within one year
$ 15,030,912
64,591
5,534,361
126,346
6,209,179
26,965,389
(2,122,667)
(11,146)
(136,155)
(1,171,427)
(1,690,962)
(713,094)
(69,880)
$ 21,050,057
25 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note S: LIQUIDITY AND AVAILABILITY OF RESOURCES
The Organization has $21,050,057 of financial assets available within one year of the balance sheet date to meet cash needs for general expenditures including cash of $6,920,800. In addition to the above amounts, the Organization has 3 separate operating lines of credit available for use on general expenditures. The first is a commitment from Wells Fargo Bank in the amount of $1,500,000. The entire balance was available as of June 30, 2022. The second is a commitment from Premier Valley Bank in the amount of $1,500,000. The entire balance was available as of June 30, 2022. The final commitment is from The Duncan Group in the amount of $1,000,000 of which $500,000 was available at June 30, 2022.

The Organization has a goal to maintain financial assets, which consist of cash and short-term investments, on hand to meet 90 days of normal operating expenses, which are, on average, approximately $5,648,108.

Note T: NEIGHBORWORKS® AMERICA GRANT
The following Neighborworks® America Grants were in effect during the year ended June 30, 2022:

Unrestricted Support
Neighborworks® America provided $198,000 of expendable grants during the year to support core operations.

Note U: CONCENTRATION OF CREDIT RISK ARISING FROM CASH DEPOSITS IN EXCESS

OF INSURED LIMITS
PSHHC maintains its cash balances in various financial institutions. The balances at the financial institutions are insured by the Federal Deposit Insurance Corporation up to $250,000. While PSHHC maintains cash in banks and financial institutions in amounts which at times, exceed the federally insured limits, PSHHC has not experienced any losses in such accounts and believes they are not exposed to any significant credit risk on cash.
26 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note V: ACQUISITION OF CASAS LAS GRANADAS LIMITED PARTNERSHIP, LACHEN

TARA LIMITED PARTNERSHIP, AND VILLAS AT HIGUERA LIMITED PARTNERSHIP AND 2021 CONSOLIDATION
During FYE 2022, Oak Forest Apartments Inc. acquired a 99.99% limited partnership interest in Casas Las Granadas Limited Partnership, Lachen Tara Limited Partnership, and Villas at Higuera Limited Partnership. The Casas Las Granadas Limited Partnership interest was acquired from the exiting limited partner, Enterprise Housing Partners XIV Limited Partnership. The Lachen Tara Limited Partnership interest was acquired from the exiting limited partner, Banc of America Housing Fund VII Limited Partnership, LLLP. The Villas at Higuera Limited Partnership interest was acquired from the exiting limited partner, Enterprise Neighborhood Partners Fund I, Series II, L.P. These partnerships own and operate affordable housing units in Santa Barbara, Avila Beach, and San Luis Obispo, California. Oak Forest Apartments Inc. acquired these partnership interests with the goal of maintaining long-term affordability for low income renters.

Oak Forest Apartments Inc. is governed by the same Board of Directors as PSHHC.

PSHHC is the controlling entity of Oak Forest Apartments Inc. with a 99.99% interest in these entities. These entities are now consolidated into the Organization's financial statements.

As a result of the acquisitions, the Organization's Consolidated Statement of Financial Position and Consolidated Statement of Activities for the year ended June 30, 2021 were restated as shown in the next two pages:
27 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note V: ACQUISITION OF CASAS LAS GRANADAS LIMITED PARTNERSHIP, LACHEN TARA LIMITED PARTNERSHIP, AND VILLAS AT HIGUERA LIMITED PARTNERSHIP AND 2021 CONSOLIDATION (Continued) ASSETS
Current Assets
Cash and Cash Equivalents
Cash - Resident Assistance
Accounts Receivable
Grants Receivable
Property in Development - Current Portion
Contracts Receivable - Current Portion
Prepaid Expenses
Total Current Assets
Other Assets
Cash - Property Reserves
Endowment Fund and Other Investments
Limited Partnership Deposits
Property in Development
Contracts Receivable - Long Term
Total Other Assets
Notes Receivable
Net Property and Equipment

TOTAL ASSETS

LIABILITIES AND NET ASSETS
Current Liabilities
Accounts Payable / Accrued Liabilities
Long -Term Debt -Current Portion
Security Deposits Payable
Deferred Revenue - Restricted
Total Current Liabilities
Other Liabilities
Construction Warranty Reserve
Property Development Reserves
Total Other Liabilities
PSHHC
As Previously
Presented,
June 30, 2021
Casas Las
Granadas
Apartments
June 30, 2021
Lachen
Tara
June 30, 2021
Villas at
Higuera
June 30, 2021
PSHHC
As Restated,
June 30, 2021
$ 16,065,759
60,476
2,060,940
196,875
16,309,490
2,354,704
469,049
$ 112,548 $ 178,688
(20,195) 1,240
9,594
5,475
$ 138,933 $ 16,495,928
- 60,476
(117,816) 1,924,169
- 196,875
- 16,309,490
- 2,354,704
15,223 499,341
37,517,293
5,120, 502
188,993
5,847,177
24,851,719
2,411,075
97,828 189,522
50,733 166,359
36,340 37,840,983
81,865
5,419,459
188,993
5,847,177
24,851,719
2,411,075
38,419,466
50,733 166,359
81,865 38,718,423
28,471,012 - (280,000) - 28,191,012
62,827,472 1,434,874 4,768,239 4,681,477 73,712,062
$ 167,235,243 $ 1,583,435 $ 4,844,120 $ 4,799,682 $ 178,462,480 $ 2,570,082 $ 1,250 $
3,450,731 24,898
674,899 9,600
816,953 3,984
7,512,665 39,732
3,090,439
267,358
3,357,797
10,337 $ 29,055 $ 2,610,724
- 14,562 3,490,191
15,200 19,800 719,499
- 24 820,961
25,537 63,441 7,641,375
3,090,439
267,358
3,357,797
Long -Term Debt, less Current Portion 74,375,234 1,653,054 6,508,258 3,307,466 85,844,012 TOTAL LIABILITIES 85,245,696 1,692,786 6,533,795 3,370,907 96,843,184

NET ASSETS
Without Donor Restrictions:

Undesignated
Board designated
Total Unrestricted
With Donor Restrictions:

Restricted for Specific Purposes
Endowment Fund
NeighborWorks America Capital Fund
Total Net Assets

TOTAL LIABILITIES AND NET ASSETS
77,868,496
2,122, 667
(109,351) (1,689,675) 1,428,775 77,498,245
- - - 2,122,667
79,991,163 (109,351) (1,689,675) 1,428,775 79,620,912
1,809,391
188,993
- - - 1,809,391
- - - 188,993
81,989,547 (109,351) (1,689,675) 1,428,775 81,619,296
$ 167,235,243 $ 1,583,435 $ 4,844,120 $ 4,799,682 $ 178,462,480 28 PEOPLE'S SELF-HELP HOUSING CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 RESTATED
Note V: ACQUISITION OF CASAS LAS GRANADAS LIMITED PARTNERSHIP, LACHEN TARA LIMITED PARTNERSHIP, AND VILLAS AT HIGUERA LIMITED PARTNERSHIP AND 2021 CONSOLIDATION (Continued) PSHHC Casas Las
As Previously Granadas Lachen Villas at PSHHC
Presented, Apartments Tara Higuera As Restated,
June 30, 2021 June 30, 2021 June 30, 2021 June 30, 2021 June 30, 2021 REVENUE, GAINS, & OTHER SUPPORT:

Grant/Contract Revenue $ 7,243,193 $ (16,176) $ (26,953) $ (14,029) $ 7,186,035 Interest and Dividend Revenue 328,686 75 245 368 329,374 Rental Revenue 11,118,409 136,257 249,111 279,995 11,783,772 Contributions 648,533 - - - 648,533
Other Revenue 2,919,460 2,072 2,994 3,817 2,928,343
Gain/(Loss) on Sale of Property 7,558,164 - 7,558,164
Total revenue, gains and
other support 29,816,445 122,228 225,397 270,151 30,434,221 EXPENSES:

Salaries 6,348,368 - 6,348,368
Fringe Benefits 2,182,498 - 2,182,498
Professional Fees 479,237 479,237
Mileage 28,779 28,779
Training/Workshops/Conferences 30,186 30,186
Dues/Subscriptions 37,763 37,763
Rent 192,522 - 192,522
Utilities 91,370 - - 91,370
Supplies 441,531 - - 441,531
Postage 14,915 - 14,915
Repairs & Maintenance 120,298 - 120,298
Telephone 129,587 - - 129,587
Printing & Copying 16,286 16,286
Insurance 122,324 - 122,324
Rental Property Interest Expense 1,436,096 4,304 138,346 106,435 1,685,181 Rental Property Operating Expense 7,114,239 79,527 162,345 177,501 7,533,612 Interest Expense 94,527 - 94,527
Miscellaneous 107,546 - 107,546
Depreciation Expense 95,075 - 95,075
Depreciation - Rental Properties 2,940,072 110,680 338,619 341,759 3,731,130 Warranty Expense 172,148 - 172,148
Capital Expenses (1,840,304) - (1,840,304)
Total expenses 20,355,063 194,511 639,310 625,695 21,814,579 Revenue Over Expenses 9,461,382 (72,283) (413,913) (355,544) 8,619,642 Additional Capital Contributions/Withdrawals
Net assets at beginning of year
170,200 170,200
72,357,965 (37,068) (1,275,762) 1,784,319 72,829,454
NET ASSETS AT END OF YEAR $ 81,989,547 $ (109,351) $ (1,689,675) $ 1,428,775 $ 81,619,296 Note W: SUBSEQUENT EVENTS
Events subsequent to June 30, 2022 have been evaluated through September 30, 2022, the date that these statements were available to be issued, to determine whether they should be disclosed to keep the financial statements from being misleading. There were no noted events to be disclosed at this time.
29 PEOPLE'S SELF-HELP HOUSING CORPORATION

CONSOLIDATED SCHEDULE OF FINANCIAL POSITION

MULTIFAMILY PROPERTIES
JUNE 30, 2022 AND 2021 RESTATED
Restated
ASSETS 2022 2021
Current Assets:

Cash and cash equivalents $ 7,710,947 $ 6,730,369
Accounts Receivable 83,159 80,834
Prepaid Expense 415,947 378,769
Total Current Assets 8,210,052 7,189,972
Other Assets:

Cash - Property Reserves
Notes Receivable
Total Other Assets
7,143,616 5,419,459
7,365,235 7,365,235
14,508,851 12,784,694
Fixed Assets
Land 19,325,679 19,325,679
Building, Improvements, and Fixtures 47,574,028 51,300,572 (net of depreciation)
Amortizable assets, net 1,137,024 1,068,861
Total Fixed Assets 68,036,732 71,695,113
TOTAL ASSETS $ 90,755,635 $ 91,669,779

LIABILITIES AND NET ASSETS
Current Liabilities
Accounts Payable $ 1,785,805 $ 1,548,147
Accrued Expenses 115,289 117,607
Security Deposit Payable 714,923 717,099
Prepaid Rent 41,731 36,343
Current Portion of Long -Term Debt 1,805,694 1,800,191
Total Current Liabilities 4,463,442 4,219,387
Long -Term Debt, Net of Current Portion 66,165,737 64,218,516 Total Liabilities 70,629,179 68,437,904
Net Assets 20,126,456 23,231,876
TOTAL LIABILITIES AND NET ASSETS $ 90,755,635 $ 91,669,779 30 PEOPLE'S SELF-HELP HOUSING CORPORATION

CONSOLIDATED STATEMENT OF ACTIVITIES

MULTIFAMILY PROPERTIES
FOR THE YEAR ENDED JUNE 30, 2022 AND 2021 RESTATED
2022
Revenue
Restated
2021
Rental Income, net $ 11,528,335 $ 11,741,091
Gain on Sale of Capital Contribution 0 7,226,610
Interest Income 3,320 25,965
Other Income 19,678 642,385
Total Revenue
Expenditures
11,551,333 19,636,051
Property Management & Administrative 2,628,405 2,634,699 Utilities 1,303,514 1,294,994
Repairs and Maintenance 2,447,858 2,234,942
Taxes and Insurance 1,251,310 1,264,009
Interest Expense 1,538,399 1,685,182
Social Services 673 30,528
Total Expenditures 9,170,158 9,144,354
Net Income before Depreciation and Amortization 2,381,175 10,491,697 Depreciation and Amortization 3,659,017 3,731,130
Net Income $ (1,277,842) $ 6,760,567
31 SUPPLEMENTARY CONTRACT INFORMATION FOR

STATE OF CALIFORNIA DEPARTMENT OF

HOUSING AND COMMUNITY DEVELOPMENT

FOR SEA HAVEN APARTMENTS

Acct No
1120
1130
1135
1140
1200
1100T

SEA HAVEN APARTMENTS

BALANCE SHEET DATA
FOR THE YEAR ENDED JUNE 30, 2022
ASSETS

CURRENT ASSETS
Cash Operations
Tenant/Member Accounts Receivable
Accounts Receivable - HUD
Accounts Receivable - Others
Prepaid expenses
Total Current Assets
1191 Tenant deposits held in trust

RESTRICTED DEPOSITS
1320 Replacement Reserves
1330 Other Reserves
1300T Total Deposits
$ 142,510
186
19,272
80,078
80,652

PROPERTY AND EQUIPMENT
1410 Land 356,195
1420 Building and Improvements 762,148
1400T Total Fixed Assets
1495 Accumulated Depreciation
1400N Net Fixed Assets
1000T TOTAL ASSETS
161,969
9,637
160,730
1,118,343
460,266
658,076
$ 990,412

LIABILITIES AND NET ASSETS (DEFICIT)

CURRENT LIABILITIES
2110 Accounts Payable - Operations $ 12,210
2170 Mortgage Payable - Current Portion 4,181
2122T Total Current Liabilities 16,391
2191 Tenant/Patient Deposits Held in Trust 9,635
2210 Prepaid Revenue 75
2320 Mortgage Payable, less current portion 1,608,088
2300T Total Long Term Liabilities 1,617,798
2000T TOTAL LIABILIITIES 1,634,190
3130 NET ASSETS (DEFICIT) (643,778)
2033T TOTAL LIABILITIES AND NET ASSETS (DEFICIT) $ 990,412 33 Acct No
5120
5121
5100T

SEA HAVEN APARTMENTS

STATEMENT OF ACTIVITIES DATA
FOR THE YEAR ENDED JUNE 30, 2022

RENTAL INCOME
Rent Revenue - Gross Potential
Tenant Assistance Payments
Total Rent Revenue Potential at 100% Occupancy

VACANCIES
5220 Apartments
5200T Total Vacancies
5152N Net Revenue Less Vacancies

FINANCIAL REVENUE
5410 Financial Revenue - Project Operations
5400T Total Financial Revenue
$ 110,611
48,129
158,740
158,740
17 17

OTHER REVENUE
5910 Laundry and Vending Revenue 1,642
5920 Tenant Charges 22
5990 Miscellaneous Revenue 847
5900T Total Other Revenue
5000T Total Revenue
2,512
161,269

ADMINISTRATIVE EXPENSES
6203 Conventions and Meetings 477
6210 Advertising 269
6250 Other Renting Expense 2,323
6311 Office Expense 4,168
6320 Management Fee 18,386
6330 Manager Salaries 16,353
6340 Legal Expense - Project 3
6350 Audit Expense 504
6351 Accounting Services 2,521
6390 Miscellaneous Administrative Expenses 10,223
Social Services Program and Supplies - $9,500
Bank Charges $698
Miscellaneous Expense - $25
6263T Total Administrative Expenses
55,228

UTILITIES EXPENSE
6450 Electricity 581
6451 Water 4,491
6452 Gas 373
6453 Sewer 4,907
6400T Total Utilities Expense 10,351
34 Acct No
6510
6515
6520
6525
6580
6590
6500T

SEA HAVEN APARTMENTS
STATEMENT OF ACTIVITIES DATA - Continued
FOR THE YEAR ENDED JUNE 30, 2022

OPERATING AND MAINTENANCE EXPENSES
Payroll 8,218
Supplies 1,241
Contracts 10,411
Garbage & Trash Removal 3,781
Lease Expense
Miscellaneous Operating and Maintenance Expenses
Total Operating and Maintenance Expenses

TAXES AND INSURANCE
6710 Real Estate Taxes 1,595
6711 Payroll Taxes (Project's Share) 1,941
6720 Property & Liability Insurance (Hazard) 6,447
6722 Workmen's Compensation 871
6723 Health Insurance and other employment benefits 4,160 6790 Miscellaneous Taxes, Licenses, Permits, and Insurance 6700T Total Taxes and Insurance

FINANCIAL EXPENSES
6820 Interest on Mortgage Payable
6830 Accrued Interest
6800T Total Financial Expenses
1,741
26,836
23,651
15,014
28,576
6000T Total Cost of Operations Before Depreciation 132,821 5060T Profit (Loss) before Depreciation 28,448
6600 Depreciation Expense 19,445
5060N Operating Profit or (Loss) 9,003
3250 Change in Total Net Assets from Operations $ 9,003 35 SEA HAVEN APARTMENTS

STATEMENT OF CASH FLOWS DATA
FOR THE YEAR ENDED JUNE 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:

S1200-010
S1200-020
S1200-030
S1200-040
S1200-050
S1200-070
S1200-090
S1200-100
S1200-110
S1200-120
S1200-140
S1200-150
S1200-180
S1200-180
S1200-230
S1200-240
Rental receipts
Interest receipts
Other operating receipts
Total receipts
Administrative
Management fee
Utilities
Salaries and wages
Operating and maintenance
Real estate taxes
Property insurance
Miscellaneous taxes and insurance
Interest on First mortgage
Interest on Second Mortgage
Total disbursements

NET CASH PROVIDED BY OPERATING ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES:

S1200-250
S1200-255
S1200-330
S1200-350
Net withdrawals from (deposits in) reserve for replacement Net withdrawals from (deposits in) other reserves
Net Purchase of Fixed Assets

NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES:

S1200-360 Mortgage principal payments
S1200-450 Other Financing Activities - net security deposits S1200-460 NET CASH USED BY FINANCING ACTIVITIES
S1200-470 NET INCREASE IN CASH
S1200-480 BEGINNING OF PERIOD CASH
S1200T END OF PERIOD CASH

RECONCILIATION OF CHANGE IN NET ASSETS TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
$ 159,090
17 2,512
(20,489)
(18,386)
(10,351)
(24,571)
(5,943)
(1,595)
(8,844)
(6,972)
(1,741)
(3,078)
(2,576)
(3,777)
161,619
(98,892)
62,727
(5,654)
(3,777)
53,296
89,215
$ 142,510
6600 Depreciation 19,445
S1200-490 (Increase) decrease in Accounts Receivable - Tenants (1,508) S1200-500 (Increase) decrease in Accounts Receivable - Other 1,157 S1200-520 (Increase) decrease in Prepaid Expense 2,396
S1200-540 Increase (decrease) in Accounts Payable - Trade (9,490) S1200-570 Increase (decrease) in Accrued Interest Payable 26,836 S1200-580 Increase (decrease) in Tenant Security Deposits Held In Trust 1 S1200-590 Increase (decrease) in Prepaid Revenue
S1200-600 Other Adjustments to Reconcile Net profit (loss) NET INCOME (LOSS) $ 9,003
36 SEA HAVEN APARTMENTS

CHANGES IN FIXED ASSETS
FOR THE YEAR ENDED JUNE 30, 2022
ASSETS
Balance Balance
Land Structures and Equipment June 30, 2021 Additions Deductions Reclassification June 30, 2022 Land $ 356,195 $ - $ - $ $ 356,195
Building 756,198 - 756,198
Furnitures, Fixtures & Equipment - - -
Fees 5,950 - 5,950
1,111,143 - 1,118,343
Accumulated Depreciation (440,821) (19,445) (460,266)
Net Book Value $ 670,322 $ (19,445) $ $ $ 658,076
37 Notes and Mortgage Payables
2022 2021
Notes payable are secured by the property unless otherwise noted and summarized as follows:

Interest
Interest Payable Principal Payable Principal
Mechanic's Bank, bears simple interest at 9.5% per annum with monthly payments of principal and interest in the amount of $467.55, to be repaid in full by 2028. Interest expense was $1,741 for the year ended June 30, 2022.
26,702 26,702
Department of Housing and Community Development Loan,
bears simple interest at 3% per annum. Annual payments
are made subject to available net cash flow. The principal and unpaid accrued interest is to be repaid in full by 2028.

Interest expense was $26,836 for the year ended June 30, 2022. 559,085 894,523 532,249 894,523
County of San Luis Obispo Promissory Note, bears no
interest. No payments are due on this Note. The Term of the Note is 30 years and ends July 31, 2027.

Total
131,959 - 131,959
559,085 1,053,184
532,249 1,053,184
Principal payments on notes payable for the next five years are subject to changes in net cash flow and are estimated as follows:
2023 4,181
2024 4,363
2025 4,552
2026 4,750
2027 4,956
Thereafter 1,589,467
Total Future Obligations 1,612,269
Cash on Hand and in Banks
Unrestricted checking account - operations
Total Unrestricted Cash
$ 142,510
$ 142,510
Restricted accounts
Replacement reserve $ 80,078
Other reserve 80,652
Tenant security deposits 9,637
Total restricted cash $ 170,367
Tenant security deposits are maintained in a separate account and interest is earned on these deposits is credited to a liability account to be refunded or applied for the benefit of tenants. Interest earned during 2022 was $.96. 38 Reserves for Replacements and Operating Expenses
In accordance with the provisions of the regulatory agreement, restricted cash is held by PSHHC to be used for replacements of property or other reserve requirements with the approval of HCD/CaIHFA as follows:

Replacement
Reserve
Other Reserve
Balance, June 30, 2021 $ 76,999 $ 78,077
Monthly deposits:

Replacement Reserve deposits of $608.33 per month for
twelve months. Other reserves deposits of $214.00 per month for twelve months. 7,300 2,568
Interest earned 8 8
Withdrawals (amount capitalized) -
Withdrawals (amount included in operating expenses) (4,230) Balance, June 30, 2022 $ 80,078 $ 80,652
Operating Cash Flow/Surplus Cash Computation - per HCD/CaIHFA Regulatory Agreements Operating Income
Total Income $ 161,269
Interest Earned on Restricted Reserve Accounts (16)
Adjusted Operating Income 161,253
Operating Expenses 102,263
Adjusted Net Income 58,990
Other Activity
Replacement Reserve Deposits
Other Reserve Deposits per Agreement
Replacement Reserve Withdrawals (expensed)
Total Other Activity
Operating Cash Flow/Surplus Cash
Total Cash Available for Distributions (net cash flow)
(7,300)
(2,568)
4,230
(5,638)
53,352
$ 53,352
39 SEA HAVEN APARTMENTS
96-HOME-021 7

CERTIFICATION OF OFFICERS
FOR THE YEAR ENDED JUNE 30, 2022
We, as officers of People's Self -Help Housing Corporation, a California nonprofit public benefit corporation, herby certify that we have examined the accompanying financial statements and supplementary data of Sea Haven Apartments as of and for the year ended June 30, 2022 and to the best of our knowledge and believe, these financial statements and data are complete and accurate.

ED,o,,iu,Sing,i,ed by:
� firiouLlrb 9/30/2022
tFC,?3
Kenneth Trigueiro CEO/President Date
DocuSigned by:
ari v, Wavt. 9/30/2022
> 0^D^6,gn2n68nn2
Griffin Moore CFO/Treasurer Date
Employer Identification Number: 95-2750154
40 SEA HAVEN APARTMENTS
96-HOME-0217

MANAGEMENT AGENT CERTIFICATION
FOR THE YEAR ENDED JUNE 30, 2022
I hereby certify that I have examined the accompanying financial statements and supplemental information of Sea Haven Apartments as of and for the year ended June 30, 2022, and to the best of my knowledge and believe, the same is complete and accurate.
,-DocuSigned by:

QIn.InA . Iti tL r
'-Q676AR7A4.71'idn7
The Duncan Group
Anna Miller, Chief Operating Officer
9/30/2022
Date
41 SUPPLEMENTARY CONTRACT INFORMATION FOR

STATE OF CALIFORNIA DEPARTMENT OF

HOUSING AND COMMUNITY DEVELOPMENT

FOR CAWELTI COURT APARTMENTS

CAWELTI COURT APARTMENTS

BALANCE SHEET DATA
FOR THE YEAR ENDED JUNE 30, 2022
ASSETS
Acct No CURRENT ASSETS
1120 Cash Operations $ 104,474
1130 Tenant/Member Accounts Receivable 1,475
1200 Prepaid expenses 8,080
1100T Total Current Assets 114,029
1191 Tenant deposits held in trust 17,301

RESTRICTED DEPOSITS
1320 Replacement Reserves 135,054
1325 Building Construction Reserve -
1330 Other Reserves 39,269
1300T Total Deposits 174,322

PROPERTY AND EQUIPMENT
1410 Land
1420 Building and Improvements 1,301,250
1440 Building Equipment (Fixed)
1460 Furnishings
1480 Motor Vehicle
1490 Miscellaneous Fixed Assets - Construction in Progress 1400T Total Fixed Assets 1,301,250
1495 Accumulated Depreciation 381,617
1400N Net Fixed Assets 919,633
1000T TOTAL ASSETS $ 1,225,285

LIABILITIES AND NET ASSETS (DEFICIT)

CURRENT LIABILITIES
2110 Accounts Payable - Operations $ 17,352
2170 Mortgage Payable - Current Portion
2122T Total Current Liabilities 17,352
2191 Tenant/Patient Deposits Held in Trust 17,300
2210 Prepaid Revenue
2320 Mortgage Payable, less current portion 1,215,636
2300T Total Long Term Liabilities 1,232,936
2000T TOTAL LIABILIITIES 1,250,288
3130 NET ASSETS (DEFICIT) (25,002)
2033T TOTAL LIABILITIES AND NET ASSETS (DEFICIT) $ 1,225,285 43 CAWELTI COURT APARTMENTS

STATEMENT OF ACTIVITIES DATA
FOR THE YEAR ENDED JUNE 30, 2022
Acct No RENTAL INCOME
5120 Rent Revenue - Gross Potential $ 159,683
5121 Tenant Assistance Payments 142,653
5100T Total Rent Revenue Potential at 100°/0 Occupancy

VACANCIES
5220 Apartments (9,954)
5200T Total Vacancies
5152N Net Revenue Less Vacancies

FINANCIAL REVENUE
5410 Financial Revenue - Project Operations 35
5430 Revenue from Investments - Residual Receipts
5440 Revenue from Investments - Reserve for Replacement 5400T Total Financial Revenue

OTHER REVENUE
5910 Laundry and Vending Revenue 1,872
5920 Tenant Charges 781
5990 Miscellaneous Revenue 601
5900T Total Other Revenue
5000T Total Revenue

ADMINISTRATIVE EXPENSES
6203 Conventions and Meetings 737
6210 Advertising
6250 Other Renting Expense 541
6310 Office Salaries
6311 Office Expense 9,558
6320 Management Fee 37,402
6330 Manager Salaries 31,106
6331 Administrative Rent Free Unit
6340 Legal Expense - Project 3,411
6350 Audit Expense 504
6351 Accounting Services 5,883
6370 Bad Debts -
6390 Miscellaneous Administrative Expenses 41,466
Social Services Program and Supplies - $40,781
Bank Charges - $660
Misc Administrative Expenses $25
6263T Total Administrative Expenses

UTILITIES EXPENSE
6450 Electricity 4,888
6451 Water 9,569
6452 Gas 4,179
6453 Sewer 12,102
6400T Total Utilities Expense
302,336
(9,954)
292,382
35 3,254
295,671
130,608
30,738
44 CAWELTI COURT APARTMENTS
STATEMENT OF ACTIVITIES DATA - Continued
FOR THE YEAR ENDED JUNE 30, 2022
Acct No OPERATING AND MAINTENANCE EXPENSES
6510 Payroll 17,631
6515 Supplies 9,566
6520 Contracts 31,792
6525 Garbage & Trash Removal 3,641
6500T Total Operating and Maintenance Expenses 62,630

TAXES AND INSURANCE
6710 Real Estate Taxes -
6711 Payroll Taxes (Project's Share) 3,461
6720 Property & Liability Insurance (Hazard) 10,763
6722 Workmen's Compensation 2,325
6723 Health Insurance and other employment benefits 13,364 6790 Miscellaneous Taxes, Licenses, Permits, and Insurance - 6700T Total Taxes and Insurance 29,913

FINANCIAL EXPENSES
6820 Interest on Mortgage Payable -
6830 Accrued Interest -
6800T Total Financial Expenses
6000T Total Cost of Operations Before Depreciation 253,888 5060T Profit (Loss) before Depreciation 41,783
6600 Depreciation Expense 47,702
5060N Operating Profit or (Loss) (5,919)
3250 Change in Total Net Assets from Operations $ (5,919) 45 CAWELTI COURT APARTMENTS

STATEMENT OF CASH FLOWS DATA
FOR THE YEAR ENDED JUNE 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:

S1200-010
S1200-020
S1200-030
S1200-040
S1200-050
S1200-070
S1200-090
S1200-100
S1200-110
S1200-120
S1200-140
S1200-150
S1200-180
S1200-180
S1200-230
S1200-240
Rental receipts
Interest receipts
Other operating receipts
Total receipts
Administrative
Management fee
Utilities
Salaries and wages
Operating and maintenance
Real estate taxes
Property insurance
Miscellaneous taxes and insurance
Interest on First mortgage
Interest on Second Mortgage
Total disbursements

NET CASH PROVIDED BY OPERATING ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES:

S1200-250
S1200-255
Net withdrawals from (deposits in) reserve for replacement Net withdrawals from (deposits in) other reserves
S1200-350 NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES:

S1200-360 Mortgage principal payments
S1200-460 NET CASH USED BY FINANCING ACTIVITIES
S1200-470 NET INCREASE IN CASH
S1200-480 BEGINNING OF PERIOD CASH
S1200T END OF PERIOD CASH

RECONCILIATION OF CHANGE IN NET ASSETS TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
6600
S1200-490
S1200-500
S1200-520
S1200-540
S1200-570
S1200-580
S1200-590
S1200-600
Depreciation
(Increase) decrease in Accounts Receivable - Tenants
(Increase) decrease in Accounts Receivable - Other
(Increase) decrease in Prepaid Expense
Increase (decrease) in Accounts Payable - Trade
Increase (decrease) in Accrued Interest Payable
Increase (decrease) in Tenant Security Deposits Held In Trust Increase (decrease) in Prepaid Revenue
Other Adjustments to Reconcile Net profit (loss)

NET INCOME (LOSS)
$ 291,396
35 3,254
(62,100)
(37,402)
(30,738)
(31,106)
(55,500)
(10,796)
(19,150)
(2,193)
(5)
(24,335)
47,702
969
16 33
(7,129)
0 294,686
(246,792)
47,894
(2,198)
(24,335)
21,361
83,113
$ 104,474
$ (5,919)
46 CAWELTI COURT APARTMENTS

CHANGES IN FIXED ASSETS
FOR THE YEAR ENDED JUNE 30, 2022
ASSETS
Balance Balance
Land Structures and Equipment June 30, 2021 Additions Deductions Reclassification June 30, 2022 Land $ - $ $ - $ $
Building 1,295,215 1,295,215
Fees 6,035 6,035
Total depreciable assets
1,301,250 1,301,250
Accumulated Depreciation (333,915)
(47,702) (381,617)
Net Book Value $ 967,335 $ (47,702) $ - $ $ 919,633
47 Notes and Mortgage Payables
2022 2021
Notes payable are secured by the property unless otherwise noted and summarized as follows:

Interest Interest
Payable Principal Payable Principal
City Of Arroyo Grande CDBG Loan, bears no interest.

Payments in full are due at maturity on August 13, 2026. 340,359 340,359
Department of Housing and Community Development Loan,
bears no interest. Annual payments are made subject to
available net cash flow. The total principal is to be repaid in full by 2025. - 875,277 932,735
Total
1,215,636 1,273,094
Principal payments on notes payable for the next five years are subject to changes in net cash flow and are estimated as follows:
2023 $
2024
2025
2026
2027
Thereafter 1,215,636
Total Future Obligations $ 1,215,636
Cash on Hand and in Banks
Unrestricted checking account - operations
Total Unrestricted Cash
Restricted accounts
Replacement reserve
Other reserve
Tenant security deposits
Total restricted cash
$ 104,474
$ 104,474
$ 135,054
39,269
17,301
$ 191,623
Tenant security deposits are maintained in a separate account and interest earned on these deposits is credited to a liability account to be refunded or applied for the benefit of tenants. Interest earned during fiscal year 2022 was $1.84.
48 Reserves for Replacements and Operating Expenses
In accordance with the provisions of the regulatory agreement, restricted cash is held by PSHHC to be used for replacements of property or other reserve requirements with the approval of HCD as follows:

Replacement
Reserve
Other Reserve
Balance, June 30, 2021 $ 132,861 $ 39,264
Monthly deposits:

Replacement Reserves - 12 months at $1,167 14,004
Interest earned 25 5
Withdrawals (amount capitalized) -
Withdrawals (amount included in operating expenses) (11,836) Balance, June 30, 2022 $ 135,054 $ 39,269
Operating Cash Flow/Surplus Cash Computation - per HCD/CaIHFA Regulatory Agreements Operating Income
Total Income $ 295,671
Interest Earned on Restricted Reserve Accounts (30)
Adjusted Operating Income 295,641
Operating Expenses 241,888
Adjusted Net Income 53,753
Other Activity
Replacement Reserve Deposits
Other Reserve Deposits per Agreement
Replacement Reserve Withdrawals (expensed)
Total Other Activity
Operating Cash Flow/Surplus Cash
Total Cash Available for Distributions (net cash flow)
(14,004)
11,836
(2,168)
51,585
$ 51,585
49 CAWELTI COURT APARTMENTS
93-HOME-0036

CERTIFICATION OF OFFICERS
FOR THE YEAR ENDED JUNE 30, 2022
I hereby certify that I have examined the accompanying financial statements and supplemental information of Cawelti Court Apartments as of and for the year ended June 30, 2022, and to the best of my knowledge and believe, the same is complete and accurate.
rDocuSignetl by:
t{IA.1Tvirc ira
Kenneth Trigueiro
Executive Vice President
r— Doasigeetl by:

Griffin'Moore
Treasurer/CFO
Employer Identification Number: 95-2750154
9/30/2022
Date
9/30/2022
Date
50 CAWELTI COURT APARTMENTS
93-HOME-0036

MANAGEMENT AGENT CERTIFICATION
FOR THE YEAR ENDED JUNE 30, 2022
I hereby certify that I have examined the accompanying financial statements and supplemental information of Cawelti Court Apartments as of and for the year ended June 30, 2022, and to the best of my knowledge and believe, the same is complete and accurate.
p-DocuSigned by:
fit/LIAA hay
' — 2 As7A171a1112_.

The Duncan Group
Anna Miller, Chief Operating Officer
9/30/2022
Date
51 SUPPLEMENTARY CONTRACT INFORMATION FOR

USDA - RURAL DEVELOPMENT FOR PACIFIC VIEW

USDA
Form RD 3560-7
(Rev. 02-05)

MULTI -FAMILY HOUSING

PROJECT BUDGET WORKSHEET

FORM APPROVED
OMB NO. 0575-0189

PROJECT NAME
Pacific View Apartments

BORROWER NAME
Peoples Self -Help Housing Corp.

BORROWER ID OR PROJECT NO.
04-40-305345064
I,oan/Pransfer Amoun $
Note Rate Payment $ $ 4,420
IC Payment $ $
Reporting
x
_
Period
Annual
Quarterly
Monthly
Budget
_
_
x
_
Type
Initial
Regular Report
Rent Change
SMR
Other Servicing
Project
x
_
_
_
_
Rental Type
Family
Elderly
Congregate
Group Home
Mixed
LH
Profit
_
_
x
Type
Full Profit
Limited Profit
Non -Profit
_
_
x
x
_
x
Electricity
Gas
Water
Sewer
Trash
Other: _Gas a 495 Main
I he
25 25
eby request
units of RA.

Current number of RA units.

Borrower
x
Accounting Method
Cash
Accrual

PART I -- CASH FLOW STATEMENT
BEGINNING DATES>
ENDING DATES>

CURRENT
BUDGET
ACTUAL

PROPOSED
BUDGET
COMMENTS or (YTD)
07/01/21
06/30/22
07/01/21
06/30/22

OPERATIONAL CASH SOURCES
1 RENTAL INCOME
2 RHS RENTAL ASSISTANCE RECEIVED
3 APPLICATION FEES RECEIVED
4 LAUNDRY AND VENDING
5 INTEREST INCOME
6 TENANT CHARGES
7 OTHER -PROJECT SOURCES
8 LESS (Vacancy and Contingency Allowance)
9 LESS (Agency Approved Incentive Allowance)
l0 SUB -TOTAL [(1 thru 7)-(8 &9 )]

NON -OPERATIONAL CASH SOURCES
11 CASH - NON PROJECT
12 AUTHORIZED LOAN (Non-RHS)
13 TRANSFER FROM RESERVE
14 SUB -TOTAL (11 thru 13)
15 TOTAL CASH SOURCES (10+14)

OPERATIONAL CASH USES
16 TOTAL O&M EXPENSES (From Part II)
17 RHS DEBT PAYMENT
18 RHS PAYMENT (Overage)
19 RHS PAYMENT (Late Fee)
20 REDUCTION IN PRIOR YEAR PAYABLES (See Part IV)
21 TENANT UTILITY PAYMENTS
22 TRANSFER TO RESERVE
23 RETURN TO OWNER
24 SUB -TOTAL (16 thru 23)

NON -OPERATIONAL CASH USES
25 AUTHORIZED DEBT PAYMENTS (Non-RHS)
26 LONG-TERM IMPROVEMENTS
27 MISCELLANEOUS
28 SUB -TOTAL (25 thru 27)
29 TOTAL CASH USES (24+28)
30 NET CASH (DEFICIT) (15-29)
110,532
$ 180,840
3,224
620
1,668
544
(2,914)
$ 294,514
$ 50,400
$ 50,400
$ 344,914
230,785
36,685
$ 20,000
3,120
290,590
$ 50,400
552
$ 50,952
$ 341,541
3,373

CASH BALANCE
31 BEGINNING CASH BALANCE 6$ 147,956
32 ACCRUAL TO CASH ADJUSTMENT (see Part Iv)....
33 ENDING CASH BALANCE (30+31+32) $ 151,329
$ 122,805
$ 165,013
$
$ 3,486
$ 102
$ 689
$ 560
(11,473)
r
$ 281,182
$ 13,799
$ 13,799
$ 294,981
$ 197,709
$ 36,685
$
$ 20,000
3,120
$ 257,514
$ 13,799
552
$ 14,351
$ 271,865
$ 23,116
145,021
5,624
$ 173,761
tenant qualification and vacancy issues
nsf, late & damages
s/b same as line 26, from Pg 5
Asset management fee
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 0575-0189. The time required to complete this information collection is estimated to average 2 1/2 hours per response, including the time for reveiwing instructions, searching exsiting data sources, gathering and maintaining the data needed, and completing and reviewing the collection information. 53 PART II - OPERATING AND MAINTENANCE EXPENSE SCHEDULE

CURRENT
BUDGET
07/01/2021-
06/30/2022

PROPOSED
BUDGET

COMMENTS
or (YTD)
1 MAINTENANCE AND REPAIRS PAYROLL
2 MAINTENANCE AND REPAIRS SUPPLY
$ 29,951
$ 26,452
$ 3,837
$ 4,685
3 MAINTENANCE AND REPAIRS CONTRACT
4 PAINTING AND DECORATING
$ 3,937
$ 2,097
$ 393
$ -
5 SNOW REMOVAL
6 ELEVATOR MAINTENANCE/CONTRACT
$ -
$ -
$ -
$ -
7 GROUNDS
8 SERVICES
$ 10,212
$ 6,500
contract accruals adjusted and grounds eliminated due to COVID-19 $ 1,300
$ 1,765
9 FURNITURES & FURNISHING REPLACEMENT
10 OTHER OPERATING EXPENSE (Itemize)
$ 12,654
$ 5,533
see Part V for details
$ -
$ -
11 SUB -TOTAL MAINT. & OPERATING (1 thru 10)
S 62,284 S 47,033
12 ELECTRICITY
13 WATER
if master metered ,
check box
on front
$ 2,672
$ 2,735
$ 16,101
$ 15,034
14 SEWER
15 FUEL (Oil/Coal/Gas)
$ 23,214
$ 22,810
$ 6,704
$ 9,305
Natural gas
16 GARBAGE & TRASH REMOVAL
17 OTHER UTILITIES
$ 6,605
$ 6,111
$ -
$ -
18 SUB -TOTAL UTILITIES (12 thru 17)
$ 55,296
$ 55,995
19 SITE MANAGEMENT PAYROLL
20 MANAGEMENT FEE
$ 35,004
$ 27,899
$ 21,201
$ 21,204
21 PROJECT AUDITING EXPENSE
22 PROJECT BOOKKEEPING/ACCOUNTING
$ 5,496
$ 5,496
$ -
$ -
23 LEGAL EXPENSES
24 ADVERTISING
$ 710
$ 7
$ 200
$ 73
25 TELEPHONE & ANSWERING SERVICE
26 OFFICE SUPPLIES
$ 1,350
$ 1,054
$ 988
$ 92
27 OFFICE FURNITURE & EQUIPMENT
28 TRAINING EXPENSE
$ 1,174
$ 1,201
$ 367
$ 2,024
29 HEALTH INS. & OTHER EMP. BENEFITS
30 PAYROLL TAXES
$ 17,691
$ 12,398
$ 5,276
$ 4,061
31 WORKMAN'S COMPENSATION
32 OTHER ADMINISTRATIVE EXPENSES (Itemize)
$ 8,070
$ 2,383
$ 6,161
$ 7,345
$2,954 software; $3,228 intemet; $252 bank fees; $133 Credit check fees; $778 utility consultant 33 SUB -TOTAL ADMINISTRATIVE (19 thru 32) $ 103,688
$ 85,237
34 REAL ESTATE TAXES
35 SPECIAL ASSESSMENTS
$ -
$ -
$ -
$ -
36 OTHER TAXES, LICENSES & PERMITS
37 PROPERTY & LIABILITY INSURANCE
$ 25
$ -
$ 6,805
$ 6,732
38 FIDELITY COVERAGE INSURANCE
39 OTHER INSURANCE
$ 14
$ 13
$ 2,673
$ 2,698
40 SUB -TOTAL TAXES & INSURANCE (34 thru 39)
$ 9,517
$ 9,444
41 TOTAL O&M EXPENSES (11+18+33+40)
$ 230,785
$ 197,709
54 Position 3
Form RD 3560-10 MULTI -FAMILY HOUSING
(02-05) BORROWER BALANCE SHEET

PART I - BALANCE SHEET

FORM APPROVED
OMB NO. 0575-0189

PROJECT NAME
Pacific View Apartments

BORROWER NAME
People's Self -Help Housing Corp.

BORROWER ID AND PROJECT NO.
04-40-305345064
BEGINNING DATES>
ASSETS ENDING DATES>

CURRENT ASSETS

1. GENERAL OPERATING ACCOUNT

2. R.E. TAX & INSURANCE ACCOUNT

3. RESERVE ACCOUNT

4. SECURITY DEPOSIT ACCOUNT

5. OTHER CASH (identib)

6. OTHER (ident)

7. TOTAL ACCOUNTS RECEIVABLE (Attach list)
ACCTS RCVBL 0-30 DAYS $ 3,705.00
ACCTS RCVBL 30-60 DAYS $
ACCTS RCVBL 60-90 DAYS $
ACCTS RCVBL OVER 90 DAYS $

8. LESS: ALLOWANCE FOR DOUBTFUL ACCOUNTS

9. INVENTORIES (supplies)

10. PREPAYMENTS

11. 12. TOTAL CURRENT ASSETS (Add 1 thru 11)

FIXED ASSETS

13. LAND

14. BUILDINGS

15. LESS: ACCUMULATED DEPRECIATION

16. FURNITURE & EQUIPMENT

17. LESS: ACCUMULATED DEPRECIATION

18. 19. TOTAL FIXED ASSETS ( Add 13 thru 18)

OTHER ASSETS

20. 21. TOTAL ASSETS (Add 12, 19, and 20)

LIABILITIES AND OWNERS EOUITY

CURRENT LIABILITIES

22. TOTAL ACCOUNTS PAYABLE (Attach list)
ACCTS PAYABLE 0-30 DAYS $ 11, 559.29
ACCTS PAYABLE 30-60 DAYS $
ACCTS PAYABLE 60-90 DAYS $
ACCTS PAYABLE OVER 90 DAYS $

23. NOTES PAYABLE (Attach list)

24. SECURITY DEPOSITS

25. TOTAL CURRENT LIABILITIES (Add 22 thru 24)

CURRENT YEAR
07-01-202a )
06-30-202a )

PRIOR YEAR
07-01-202a )
06-30-202a )

COMMENTS
173,960.73
$145,220.67
278,967.27
272,668.07
18,157.53
17,732.17
3,705.00

55.00 7,183.69
7,080.51
481,974.22
442,756.42
619,483.00
619,483.00
1,163,743.50
1,163,743.50
(
1,133,568.90)(
1,097,399.60 )
2,800.08
2,800.08
(
2,800.08 )(
2,800.08 )
$649,657.60
$685,826.90
$1,131,631.82
$1,128,583.32
$11,559.29
$2,080.27
18,108.00
17,686.00
$29,667.29
$19,766.27
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 0575-0189. The time required to complete this information collection is estimated to average 2 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. 55 LONG-TERM LIABILITIES

26. NOTES PAYABLE RURAL DEVELOPMENT

27. OTHER (Ident )

28. TOTAL LONG-TERM LIABILITIES (Add 26 and 2 7)

29. TOTAL LIABILITIES (Add 25 and 28)

30. OWNER'S EQUITY (Net Worth) (21 minus 29)

31. TOTAL LIABILITIES AND OWNER'S EQUITY
(Add 29 and 30)
$1,111,674.00
$1,140,753.80
1,111,674.00
1,140,753.80
1,141,341.29
1,160,520.07
(
(9,709.47) )
(
(31,936.75) )
$1,131,631.82
$1,128,583.32
Warning: Section 1001 of Title 18, United States Code provides: "Whoever, in any matter within the jurisdiction any ofdepartmdnlbartment or agency of the United States knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious or fraudulent statements or representations, or makes or uses any false writing or document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined under this title or imprisoned not more than five years, or both.

I HAVE READ THE ABOVE WARNING STA 1EMENT AND I HEREBY CERTIFY THE FOREGOING INFORMATION IS COMPLETE AND ACCURATE TO THE BEST OF MY KNOWLEDGE.
(Date)
(Signature of Borrower or Borrower' Representative)

PART II - VERIFICATION OF REVIEW
(Title)
I/We have reviewed the borrower's records. The accompanying balance sheet, and statement of actual budget and income on Form RD 1930-7, is a fair presentation of the borrower's records.

I/We certify that no identity of interest exists between me/us and any individual or organization doing business with the project or borrower.
(Date) (Signature)
(Name and Title)
(Address)
n In lieu of the above verification and signature, a review completed, dated and signed by a person or firm qualified by I license or certification is attached.
56 SUPPLEMENTARY CONTRACT INFORMATION FOR

USDA - RURAL DEVELOPMENT FOR

LOS ADOBES DE MARIA

FORM APPROVED
OMB NO. 0575-0189
USDA
Form RD 3560-7
(Rev. 02-05)

MULTIPLE FAMILY HOUSING PROJECT BUDGET/

UTILITY ALLOWANCE

PROJECT NAME
Los Adobes de Maria

BORROWER NAME
Peoples Self -Help Housing
BORROWER ID OR PROJECT NO.
040-92-270154
Loan/Transfer Amours $ $ -
Note Rate Payment $ $ -
IC Payment $ $ -
Reporting
x
_
Period
Annual
Quarterly
Monthly
Budget
_
x
_
Type
Initial
Regular Report
Rent Change
SMR
Other Servicing
Project
x
_
_
_
_Mixed
Rental Type
Family
Elderly
Congregate
Group Home
LH
Profit
_
_
x
Type
Full Profit
Limited Profit
Non -Profit
_
_
_
x
##
x
.tea
Electricity
Gas
Water
Sewer
Trash
Other:

I hereby
Junits
request
of RA.

Current number of RA units.

Borrower
x
Accounting Method
Cash
Accrual

PART I -- CASH FLOW STATEMENT
BEGINNING DATES>
ENDING DATES>

CURRENT
BUDGET
ACTUAL

PROPOSED
BUDGET

COMMENTS
or (YTD)
07/01/21
06/30/22
07/01/21
06/30/22

OPERATIONAL CASH SOURCES
1 RENTAL INCOME
2 RHS RENTAL ASSISTANCE RECEIVED
3 APPLICATION FEES RECEIVED
4 LAUNDRY AND VENDING
5 INTEREST INCOME
6 TENANT CHARGES
7 OTHER -PROJECT SOURCES
8 LESS (Vacancy and Contingency Allowance)
9 LESS (Agency Approved Incentive Allowance)
10 SUB -TOTAL [(1 thru 7)-(8 &9)] $ 691,618 $ 688,902 $

NON -OPERATIONAL CASH SOURCES
$ 684,756
7,817
2,040
$ 1,669
$ 5,608
$ (10,271)
$ 684,759
$ 6,910
$ 75
$ 1,207
$ 6,893
$ (10,942)
11 CASH - NON PROJECT
12 AUTHORIZED LOAN (Non-RHS)
13 TRANSFER FROM RESERVE
14 SUB -TOTAL (11 thru 13) $
$ 22,500
15 TOTAL CASH SOURCES (10+14 )

OPERATIONAL CASH USES
16 TOTAL O&M EXPENSES (From Part II)
17 RHS DEBT PAYMENT
18 RHS PAYMENT (Overage)
19 RHS PAYMENT (Late Fee)
20 REDUCTION IN PRIOR YEAR PAYABLES (See Part IV)
21 TENANT UTILITY PAYMENTS
22 TRANSFER TO RESERVE
23 RETURN TO OWNER
24 SUB -TOTAL (16 thru 23) $ 684,208 $ 683,788 $

NON -OPERATIONAL CASH USES
$ 113,155
22,500 $
$ 714,118
$ 488,336
$ 133,372
$ 55,000
$
7,500
113,155 $
$ 802,057
$ 487,845
$ 133,372
$ 55,071
$
7,500
25 AUTHORIZED DEBT PAYMENTS (Non-RHS)
26 LONG-TERM IMPROVEMENTS
27 MISCELLANEOUS
28 SUB -TOTAL (25 thru 27) $
$ 22,500
$
29 TOTAL CASH USES (24+28 )
30 NET CASH (DEFICIT) (15-29)

CASH BALANCE
31 BEGINNING CASH BALANCE
32 ACCRUAL TO CASH ADJUSTMENT (see Part
33 ENDING CASH BALANCE (30+31+32) $ 133,638 $ 200,568 $ - $ 113,155
$
22,500 $
$ 706,708
7,410
Gat 126,228
113,155 $
$ 796,943
5,114
$ 171,800
$ 23,654
actual includes interest
asset management fee
see part V
Capital Improvements (net)
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 0575-0189. The time required to complete this information collection is estimated to average 2 1/2 hours per response, including the time for reveiwing instructions, searching exsiting data sources, gathering and maintaining the data needed, and completing and reviewing the collection information. 58 PART II -- OPERATING AND MAINTENANCE EXPENSE SCHEDULE

CURRENT
BUDGET
7/1/2021 -
6/30/2022

PROPOSED
BUDGET

COMMENTS
1 MAINTENANCE AND REPAIRS PAYROLL
2 MAINTENANCE AND REPAIRS SUPPLY
$ 61,673
$ 65,733
$ 19,965
$ 13,033
3 MAINTENANCE AND REPAIRS CONTRACT
4 PAINTING AND DECORATING
$ 10,435
$ 27,684
$ 1,550
$ 1,781
5 SNOW REMOVAL
6 ELEVATOR MAINTENANCE/CONTRACT
$ -
$ -
$ -
$ -
7 GROUNDS
8 SERVICES
$ 17,665
$ 18,379
$ 12,407
$ 11,740
9 FURNITURES & FURNISHING REPLACEMENT
10 OTHER OPERATING EXPENSE (Itemize)
$ 26,400
$ 21,952
see Part V - direct link in MINC for this field
$ -
S -
11 SUB -TOTAL MAINT. & OPERATING (1 thru 10)
$ 150,095
$ 160,301
12 ELECTRICITY
13 WATER
If master metered ,
check box
on front.
14 SEWER
15 FUEL (Oil/Coal/Gas)
16 GARBAGE & TRASH REMOVAL
17 OTHER UTILITIES
18 SUB -TOTAL UTILITIES (12 thru 17)
$ 11,045
7,499
$ 42,778
$ 45,097
$ 12,539
$ 13,339
$ 2,098
$ 23,231
$ 1,998
$ 22,540
$ 91,691
$ 90,473
19 SITE MANAGEMENT PAYROLL
20 MANAGEMENT FEE
$ 68,423
$ 67,629
$ 53,844
$ 53,844
21 PROJECT AUDITING EXPENSE
22 PROJECT BOOKKEEPING/ACCOUNTING
$ 5,496
$ 5,496
$ -
$ -
23 LEGAL EXPENSES
24 ADVERTISING
$ 750
$ 63
$ 200
$ 316
25 TELEPHONE & ANSWERING SERVICE
26 OFFICE SUPPLIES
$ 2,292
$ 3,521
$ 2,966
$ 1,762
27 OFFICE FURNITURE & EQUIPMENT
28 TRAINING EXPENSE
$ 3,400
$ 2,346
$ 2,157
$ 1,690
$ 33,370
$ 27,276
29 HEALTH INS. & OTHER EMP. BENEFITS
30 PAYROLL TAXES
$ 10,386
$ 7,946
31 WORKMAN'S COMPENSATION
32 OTHER ADMINISTRATIVE EXPENSES (Itemize)
$ 6,596
$ 5,773
$ 11,475
$ 15,860
$7,381 software; $3,575 intemet; $2,543 consultants; $428 credit checks; $1,933 bank charges 33 SUB -TOTAL ADMINISTRATIVE (19 thru 32)
$ 201,355
$ 193,524
34 REAL ESTATE TAXES
35 SPECIAL ASSESSMENTS
$ 10,546
$ 8,808
increase in units that did not qualify for exemption
$ 668
$ 647
sewer assessment
36 OTHER TAXES, LICENSES & PERMITS
37 PROPERTY & LIABILITY INSURANCE
$ 35
$ 61
CA use tax filing
$ 31,260
$ 31,319
moved Board coverage
38 FIDELITY COVERAGE INSURANCE
39 OTHER INSURANCE
$ 14
$ 13
board insurance coverage
$ 2,673
$ 2,698
board insurance coverage
40 SUB -TOTAL TAXES & INSURANCE (34 thru 39)
$ 45,196
$ 43,547
41 TOTAL O&M EXPENSES (11+18+33+40)
$ 488,336
$ 487,845
59 Form RD 3560-10
(02-05)
Position 3

MULTI -FAMILY HOUSING

BORROWER BALANCE SHEET

PART I - BALANCE SHEET

FORM APPROVED
OMB NO. 0575-0189

PROJECT NAME
Los Adobes de Maria

BORROWER NAME
People's Self -Help Housing Corp.

BORROWER ID AND PROJECT NO.
040-92-270154
ASSETS

CURRENT ASSETS

1. GENERAL OPERATING ACCOUNT

2. R.E. TAX & INSURANCE ACCOUNT

3. RESERVE ACCOUNT

4. SECURITY DEPOSIT ACCOUNT

5. OTHER CASH (ident)

6. OTHER (ident)

7. TOTAL ACCOUNTS RECEIVABLE (Attach list)
ACCTS RCVBL 0-30 DAYS $
ACCTS RCVBL 30-60 DAYS $
ACCTS RCVBL 60-90 DAYS $
ACCTS RCVBL OVER 90 DAYS $
BEGINNING DATES>
ENDING DATES>

8. LESS: ALLOWANCE FOR DOUBTFUL ACCOUNTS

9. INVENTORIES (supplies)

10. PREPAYMENTS

11. 12. TOTAL CURRENT ASSETS (Add 1 thru 11)

FIXED ASSETS

13. LAND

14. BUILDINGS

15. LESS: ACCUMULATED DEPRECIATION

16. FURNITURE & EQUIPMENT

17. LESS: ACCUMULATED DEPRECIATION

18. 19. TOTAL FIXED ASSETS ( Add 13 thru 18)

CURRENT YEAR
07-01-2041 )
06-30-202d )

PRIOR YEAR
( 07-01-2041 )
( 06-30-202a )

COMMENTS
200,567.93
$171,800.06
562,761.64
620,846.10
44,866.98
44,963.50
(117.00)
2,865.00
25,402.32
24,401.20
833,481.87
864,875.86
1,100,000.00
1,100,000.00
5,936,034.90
5,936,034.90
(
3,910,197.60)(
3,769,160.80 1
_
376,058.28
376,058.28
(
72,683.14 )(
41,389.14 )
$3,429,212.44
$3,601,543.24

OTHER ASSETS

20. 21. TOTALASSETS(Add12, 19, and 20) $4,262,694.31H$4,466,419.10

LIABILITIES AND OWNERS EOUITY

CURRENT LIABILITIES

22. TOTAL ACCOUNTS PAYABLE (Attach list)
ACCTS PAYABLE 0-30 DAYS $ 25,115.58
ACCTS PAYABLE 30-60 DAYS $
ACCTS PAYABLE 60-90 DAYS $
ACCTS PAYABLE OVER 90 DAYS $

23. NOTES PAYABLE (Attach list)

24. SECURITY DEPOSITS

25. TOTAL CURRENT LIABILITIES (Add 22 thru 24)
$25,115.58
$105,462.44
44,861.00
44,962.00
$69,976.58
$150,424.44
According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to a collection of infonnation unless it displays a valid OMB control number. The valid OMB control number for this information collection is 0575-0189. The time required to complete this information collection is estimated to average 2 hour per response, including the time for reviewing instructions, searching existing data sources, gatheringand maintaining the data needed, and completing and reviewing the collection of information. 60 LONG-TERM LIABILITIES

26. NOTES PAYABLE RURAL DEVELOPMENT

27. OTHER (Ident)

28. TOTAL LONG-TERM LIABILITIES (Add 26 and 2 7)

29. TOTAL LIABILITIES (Add 25 and 28)

30. OWNER'S EQUITY (Net Worth) (21 minus 29)

31. TOTAL LIABILITIES AND OWNER'S EQUITY
(Add 29 and 30)
$595,552.98
$722,280.99
595,552.98
722,280.99
665,529.56
872,705.43
3,597,164.75
(
3,593,713.67)1
$4,262,694.31
$4,466,419.10
Warning: Section 1001 of Title 18, United States Code provides: "Whoever, in any matter within the jurisdiction any ofdepartmdepartment or agency of the United States knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious or fraudulent statements or representations, or makes or uses any false writing or document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined under this title or imprisoned not more than five years, or both.

I HAVE READ THE ABOVE WARNING STATEMENT AND I HEREBY CERTIFY THE FOREGOING INFORMATION IS COMPLETE AND ACCURATE TO THE BEST OF MY KNOWLEDGE.
�lao2a
(Date)
IMlae-t-
(Signature of Borrower or Borrower' Representative)
Trea--,kire.C'

PART II - VERIFICATION OF REVIEW
(Title)
I/We have reviewed the borrower's records. The accompanying balance sheet, and statement of actual budget and income on Form RD 1930-7, is a fair presentation of the borrower's records.

I/We certify that no identity of interest exists between me/us and any individual or organization doing business with the project or borrower.
(Date) (Signature)
(Name and Title)
(Address)
�✓ In lieu of the above verification and signature, a review completed, dated and signed by a person or firm qualified by I license or certification is attached.
61 SUPPLEMENTARY CONTRACT INFORMATION FOR

NEIGHBORWORKS AMERICA

PEOPLE'S SELF-HELP HOUSING CORPORATION

SCHEDULE OF FINANCIAL POSITION

NEIGHBORWORKS AMERICA EXPENDABLE GRANTS
JUNE 30, 2022
Capital Capital Capital Capital Capital Capital
Expendable Projects Projects Projects Projects Projects Projects Capital Grants LADMIII CDLF TPII Guad Court IV, LADERA, AGA Del Rio Ridge Projects Totals ASSETS
Cash $ 198,617 $ - $ - $
Certificates of Deposit 74,678 - -
Other Investments - - - 213,333
Notes Receivable - 1,075,000 125,000 770,000
Building Improvements - - -
TOTAL ASSETS 273,295 1,075,000 125,000 770,000 213,333

LIABILITIES AND NET ASSETS
Liabilities:

Accounts Payable
Total Liabilities
- $ - $ - $ 198,617
375,000 360,000 809,678
213,333
- - - 1,970,000
284,265 284,265
284,265 375,000 360,000 3,475,893
Net Assets:

Without Donor Restrictions 273,295 1,075,000 125,000 770,000 213,333 284,265 375,000 360,000 3,475,893 With Donor Restrictions:

Restricted for Specific Purposes
NeighborWorks America Capital Fund
Total Net Assets
273,295 1,075,000 125,000 770,000 213,333 284,265 375,000 360,000 3,475,893 TOTAL LIABILITIES AND NET ASSETS $ 273,295 $ 1,075,000 $ 125,000 $ 770,000 213,333 $ 284,265 375,000 $ 360,000 $ 3,475,893

PEOPLE'S SELF-HELP HOUSING CORPORATION

STATEMENT OF ACTIVITIES

NEIGHBORWORKS AMERICA EXPENDABLE GRANTS
JUNE 30, 2022
Capital Capital Capital Capital Capital Capital
Expendable Projects Projects Projects Projects Projects Projects Capital Grants LADMIII CDLF TPII Guad Court IV, LADERA, AGA Del Rio Ridge Projects Totals Balance at Beginning of Year $ 308,857 $ 1,075,000 $ 125,000 $ 770,000 213,333 $ 284,265 375,000 $ - $ 3,151,455 Additions 198,000 360,000 558,000
Applied (233,329) - - - - - (233,329)
Interest Earned (233) - - - (233)
Net Assets
Without Donor Restrictions 273,295 1,075,000 125,000 770,000 213,333 284,265 375,000 360,000 3,475,893 With Donor Restrictions:

Restricted for Specific Purposes
NeighborWorks America Capital Fund
Net Assets at End of Year $ 273,295 $ 1,075,000 $ 125,000 $ 770,000 213,333 $ 284,265 375,000 $ 360,000 $ 3,475,893 Interest income in the amount of $2,531 was earned on the net assets of the Neighborworks® America Grant funds and was available for unrestricted use by the Organization. 63 PEOPLE'S SELF-HELP HOUSING CORPORATION

SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED JUNE 30, 2022
Federal Disbursements/
GRANTOR Grant Number CFDA Number Expenditures
U. S. DEPARTMENT OF AGRICULTURE
Direct:

Rural Self -Help Housing Technical Assistance
Rural Rental Assistance Payments - Pacific View
Rural Rental Assistance Payments - Los Adobes de Maria
Subtotal 10.420
Subtotal 10.427
N/A 10.420 $ 208,163
208,163
N/A 10.427 165,013
N/A 10.427 49,419
214,432
TOTAL U.S. DEPARTMENT OF AGRICULTURE 422,595
U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Passed through:

City of Ventura - Community Development Block Grant - El Patio N/A 14.218 668 City of Ventura - Community Development Block Grant - El Patio N/A 14.218 19,332 City of Santa Barbara - Community Development Block Grant- Heath House N/A 14.218 13,360 County of Santa Barbara - Community Development Block Grant - Carpenteria N/A 14.218 8,197 County of Ventura - Community Development Block Grant - El Patio N/A 14.218 30,000 County of San Luis Obispo- City of Morro Bay- Community Development Block Gran N/A 14.218 8,769 County of San Luis Obispo- City of Paso Robles- Community Development Block Gr N/A 14.218 3,766 County of San Luis Obispo- Cares Act- Community Development Block Grant N/A 14.218 48,850 Subtotal 14.218 CDBG - Entitlement Grants Cluster 132,942 Direct:

Supportive Housing
Supportive Housing
M FS C 189883-01-05 14.191
M FSC 189883-01-03 14.191
67,582
67,409
Subtotal 14.191 134,991
TOTAL U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 267,933 U. S. DEPARTMENT OF TREASURY
Direct:

NeighborWorks America - Operating Grant - Expendable N/A 21.000 295 NeighborWorks America - Operating Grant - Expendable N/A 21.000 4,500 NeighborWorks America - Operating Grant - Expendable N/A 21.000 10,000 NeighborWorks America - Operating Grant - Expendable N/A 21.000 5,000 NeighborWorks America - Operating Grant - Expendable N/A 21.000 1,000 NeighborWorks America - Operating Grant - Expendable N/A 21.000 34 NeighborWorks America - Operating Grant - Expendable N/A 21.000 12,500 NeighborWorks America - Operating Grant - Expendable N/A 21.000 7,000 NeighborWorks America - Operating Grant - Expendable N/A 21.000 172,500 NeighborWorks America - Operating Grant - Expendable N/A 21.000 20,000 NeighborWorks America - Operating Grant - Expendable N/A 21.000 500 Subtotal 21.000 233,329
TOTAL U. S. DEPARTMENT OF TREASURY
U. S. DEPARTMENT OF HEALTH AND HUMAN SERVICES
Passed through:

California Coalition for Rural Housing - Assets for Independence TOTAL U. S. DEPARTMENT OF HEALTH AND HUMAN SERVICES
N/A
233,329

93.602 4,000
4,000
TOTAL EXPENDITURES 927,857
LOANS
U. S. DEPARTMENT OF AGRICULTURE
Rural Rental Housing Loans - Pacific View
Rural Rental Housing Loans - Los Adobes de Maria

10.415 1,111,674

10.415 595,553
Subtotal 10.415 1,707,227
TOTAL U.S. DEPARTMENT OF AGRICULTURE LOANS 1,707,227
64 PEOPLE'S SELF-HELP HOUSING CORPORATION

SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED JUNE 30, 2022

GRANTOR

LOANS -CONTINUED
Federal Disbursements/
Grant Number CFDA Number Expenditures
U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
County of San Luis Obispo- Sea Haven 14.218 131,959
City of Santa Barbara - Victoria Hotel 14.218 430,000
City of Santa Barbara- Ladera 14.218 699,834
County of Santa Barbara - Dahlia Court 14.218 250,800
City of Atascadero - Atascadero Gardens 14.218 80,000
County of Santa Barbara - Ellwood 14.218 277,500
City of Santa Maria - LDM2 14.218 221,220
City of Arroyo Grande - Cawelti Court 14.218 340,359
Subtotal 14.218 & CDBG - Entitlement Grants Cluster 2,431,672 County of San Luis Obispo- Schoolhouse Lane Land 14.239 540,000 Department of Housing and Community Development - Sea Haven 14.239 894,523 City of Santa Barbara - Victoria Street Apartments 14.239 378,464 City of Santa Barbara - Victoria Street Apartments 14.239 480,000 County of San Luis Obispo - La Brisa 14.239 615,675
County of San Luis Obispo - Brizzolara 14.239 200,000
County of San Luis Obispo- Atascadero Gardens 14.239 150,000 County of Santa Barbara - Dahlia Court 14.239 422,000
City of Santa Barbara - Victoria Hotel 14.239 700,000
County of Santa Barbara - Ellwood 14.239 425,000
City of Goleta - Ellwood 14.239 200,000
Department of Housing and Community Development - Cawelti Court 14.239 875,277 Subtotal 14.239 5,880,939
TOTAL U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOANS 8,312,611 TOTAL LOANS 10,019,838
TOTAL EXPENDITURES OF FEDERAL AWARDS $ 10,947,695
Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of People's Self -Help Housing Corportion under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of People's Self -Help Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of People's Self -Help Housing Corportion.

Note B: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) People's Self -Help Housing Corportion has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Note C: LOANS OUTSTANDING
The following program had federally -funded loans outstanding at June 30, 2022:

Amounts Outstanding
Program Title CFDA # June 30, 2021 June 30, 2022
Rural Rental Housing Loans 10.415 $ 1,863,043 $ 1,707,227 Community Development Block Grants/Entitlement Grants 14.218 $ 2,667,355 $ 2,431,672 Home Investment Partnerships Program 14.239 $ 5,905,274 $ 5,880,939 65 Grant Bennett Associates

A PROFESSIONAL CORPORATION
Proud Member of
AlliottGlobalAlliance-

INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL

OVER FINANCIAL REPORTING AND ON COMPLIANCE

AND OTHER MATTERS BASED ON AN AUDIT OF

FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE

WITH GOVERNMENT AUDITING STANDARDS
Board of Directors
People's Self -Help Housing Corporation
San Luis Obispo, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of People's Self -Help Housing Corporation, which comprise the statement of financial position as of June 30, 2022, and the related statements of activities, functional expenses and cash flows for the year then ended, and the related notes to the financial statements, and have issued our report thereon dated September 30, 2022.

Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered Organization's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Organization's internal control. Accordingly, we do not express an opinion on the effectiveness of Organization's internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
www.gbacpa.com
10850 Gold Center Drive, Suite 260
Rancho Cordova, CA 95670
916/922-5109 FAX 916/641-5200
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 66 Grant Bennett Associates

A PROFESSIONAL CORPORATION
Proud Member of
AlliottGlobalAlliance-
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Organization's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

Rancho Cordova, California
September 30, 2022
GBA
C P A
www.gbacpa.com
cA'av(erine•fi9eigS

GRANT BENNETT ASSOCIATES

A PROFESSIONAL CORPORATION
Certified Public Accountants
10850 Gold Center Drive, Suite 260
Rancho Cordova, CA 95670
916/922-5109 FAX 916/641-5200
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 67 Grant Bennett Associates

A PROFESSIONAL CORPORATION
Proud Member of
AlliottGlobalAlliance-

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE

FOR EACH MAJOR PROGRAM AND ON INTERNAL

CONTROL OVER COMPLIANCE REQUIRED BY

THE UNIFORM GUIDANCE
Board of Directors
People's Self -Help Housing Corporation
San Luis Obispo, California
Report on Compliance for Each Major Federal Program
Opinion on Each Major Federal Program
We have audited People's Self -Help Housing Corporation's compliance with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of People's Self -Help Housing Corporation's major federal programs for the year ended June 30, 2022. People's Self -Help Housing Corporation's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs.

In our opinion, People's Self -Help Housing Corporation complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2022.

Basis for Opinion on Each Major Federal Program
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditor's Responsibilities for the Audit of Compliance section of our report.

We are required to be independent of the People's Self -Help Housing Corporation and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal program. Our audit does not provide a legal determination of People's Self -Help Housing Corporation's compliance with the compliance requirements referred to above.

Responsibilities of Management for Compliance
www.gbacpa.com
10850 Gold Center Drive, Suite 260
Rancho Cordova, CA 95670
916/922-5109 FAX 916/641-5200
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 68 Grant Bennett Associates

A PROFESSIONAL CORPORATION
Proud Member of
AlliottGlobalAlliance-
Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to People's Self -Help Housing Corporation's federal programs.

Auditor's Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and to express an opinion on People's Self -Help Housing Corporation's compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the requirements referred to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about People's Self -Help Housing Corporation's compliance with the requirements of each major federal program as a whole.

In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards, and the Uniform Guidance, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding People's Self -Help Housing Corporation's compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances. • Obtain an understanding of People's Self -Help Housing Corporation's internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of the People's Self -Help Housing Corporation's internal control over compliance. Accordingly, no such opinion is expressed.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit. www.gbacpa.com
10850 Gold Center Drive, Suite 260
Rancho Cordova, CA 95670
916/922-5109 FAX 916/641-5200
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 69 Grant Bennett Associates

A PROFESSIONAL CORPORATION
Proud Member of
AlliottGlobalAlliance-
Report on Internal Control Over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis.

A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.

Our consideration of internal control over compliance was for the limited purpose described in the Auditor's Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies may exist that were not identified.

Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose.

Rancho Cordova, California
September 30, 2022
www.gbacpa.com
cAi6Orine-h$694QS

GRANT BENNETT ASSOCIATES

A PROFESSIONAL CORPORATION
Certified Public Accountants
10850 Gold Center Drive, Suite 260
Rancho Cordova, CA 95670
916/922-5109 FAX 916/641-5200
1970 Broadway, Suite 260
Oakland, CA 94612
510/817-4886
Princeville, HI
888/763-7323
Together as One. Grant Bennett Associates is a Member of the Alliott Global Alliance of independent professional firms. 70 PEOPLE'S SELF-HELP HOUSING CORPORATION

SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED JUNE 30, 2022
A. SUMMARY OF AUDITOR'S RESULTS
Financial Statements

1. Type of Audit Report Issued

UNMODIFIED

2. Internal Control Over Financial Reporting:

Material Weakness(es) Identified
Significant Deficiency(ies) Identified
NONE

NONE REPORTED

3. Noncompliance Material to Financial Statements

NONE REPORTED
Federal Awards

1. Internal Control Over Major Programs:

Material Weakness(es) Identified
Significant Deficiency(ies) Identified
NONE

NONE REPORTED

2. Type of Auditor's Report Issued on Compliance
for Major Programs

UNMODIFIED

2. Uniform Guidance Audit Finding
Disclosed by Audit

NONE REPORTED

4. Major Programs:

14.218 — Community Development
Block Grants/Entitlement Grants

14.239 — HOME Investment
Partnerships Program

5. Dollar Threshold for Type A Programs
$750,000

6. Auditee Qualification

LOW RISK
B. Findings Relating to the Financial Statements which
are Required to be Reported in Accordance with
GAGAS

NONE REPORTED
C. Findings and Questioned Costs for Federal Awards
Including Audit Findings Defined in
the Uniform Guidance

NONE REPORTED
71 PEOPLE'S SELF-HELP HOUSING CORPORATION

SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
FOR THE YEAR ENDED JUNE 30, 2021
There were no prior year findings.

PI51110 BEACH
THE*CHAMBER
Serving Beach Communities
May 5, 2023
TO: Pismo Beach City Council
RE: Grant Request
On behalf of the Pismo Beach Chamber of Commerce, we would like to request consideration of a grant allocation in the amount of $17,000 for the fiscal 2023-2024 budget year.

The Pismo Beach Chamber of Commerce is a volunteer run Chamber promoting our unique beach communities and helping to create an engaging community for our residents. Celebrating our 100th year in 2022, the Chamber works tirelessly on behalf of our business community, our residents and as a partner to the City of Pismo Beach.

Our grant request would help provide funding for the following areas:
2022-2023 Farmers Market - Requested $12,000
in 2021 the Pismo Beach Chamber reintroduced the Pismo Beach Farmers Market. This market runs every Wednesday starting at the beginning of May and running through October.

The weekly market has been expanded to a variety of vendors and live music. In 2022 we added the support of a Market Manager to help run the market and solicit new vendors. This market is being managed by a local company who specializes in local farmers markets.

The money requested would go to help offset the cost of the Market Manager and to help cover the cost of the weekly live musical performers.

Leadership Circle Sponsorship - Requested $5,000 Sponsorship level The Chamber is seeking a partnership with the City as part of our Leadership Circle Sponsorship program. Through this program we partner with the City of Pismo Beach to help further the City's goals, promote the City as a leading partner with the Chamber and help facilitate communications with our business community and residents. The recommended level would include:
• Banner Logo/link on every monthly email newsletter and on Pismo Chamber website. $5,000 value
• Full member website login upgrade access, $500 value
• Sponsor table at the annual Taste of Pismo, $1,250 value • Four tickets to 2 wine walks, $280 value
• Email blast & Facebook business spotlight every quarter, $1,600 value • Mention and logo present at every monthly Mixer, quarterly Mayor's Luncheon and Installation Dinner, and other events $1,000
Pismo Beach Chamber of Commerce
649 Dolliver St, Pismo Beach, CA 93449
805.773.4382 -

PI51110 BEACH
THE*CHAMBER
Serving Beach Communities
• Free booth at expos, Farmers Markets or other booth events, $100 value How will these funds benefit the City of Pismo Beach?
The Pismo Beach Chamber strives to be a valuable partner to the City in developing programs that will help our business community thrive, engage our residents, and promote the Pismo Beach Experience and promote tourism.

These programs benefit the City in a multitude of ways.

1. The Farmers Market creates an engaging Pier Plaza attraction for visitors, enhancing their experience. Connects residents with local merchants and artisans, building a greater sense of community. Providing valuable revenue generating opportunities to local vendors to help strengthen our business community. This promotes Pismo Beach with a small beach town feel.

Visitors love connecting with local artisans and supporting local businesses.

2. The Leadership Sponsorship helps to support the Chamber to meet our goals on behalf of our membership and community. This identifies you as a strong supporter of your local Chamber. This allows the Chamber to promote the City, your events, and areas of community outreach.

Fiscal Goals: How we help you enhance Community Character and Quality of Life for our Residents.

Each of these events provides an engaging experience for our residents. By enhancing our Pismo Beach Experience, we benefit our residents with a vibrant and engaging downtown business community for them to enjoy. The Chamber is also working to provide informative events to educate our residents in a variety of areas that will help enhance their quality of life.

By creating a partnership with the Chamber through our Leadership Circle Sponsorship, the City will be a vital resource in helping the City promote and execute initiatives that enhance the quality of life for our residents. As your champion, the Chamber will help connect residents and City Government for the benefit of us all.

The Pismo Beach Chamber is run by a dedicated staff of volunteers with a passion for our community. It would not be the success that it is today without the continued support of the City of Pismo Beach. We appreciate your consideration of our request and look forward to working together for the benefit of this beach town we all love.

Regards,
Jeanette Vierra
President/Chairperson
Pismo Beach Chamber of Commerce (805)
773-4382
Pismo Beach Chamber of Commerce
649 Dolliver St, Pismo Beach, CA 93449
805.773.4382 -

Pismo Beach
Chamber Grant
Request
Presented by: Jeanette Vierra
President/Chairperson

Background
The Pismo Beach Chamber of Commerce has been serving our members and community for 100 years.

This organization is run by a dedicated group of volunteers who have a passion for our business community and making Pismo Beach a welcoming place for residents and our visitors.

Grant Request
Our Chamber is seeking approval from the City of Pismo Beach for the following areas:

In support of the weekly Farmer's Market
Leadership Circle Sponsorship
T,
ota
o.ArGra
t Reg
es _ is $1'/,OOO.

Farmer's Market
Requested $12,000 in grant funds
T
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The market was started in 2021 and was a great success for the vendors and attendees.

In 2022, we have hired a market manager to solicit new vendors and manage the overall market. The market includes musical entertainment.

Grant monies would go to cover the cost of the market manager and weekly band expenses.

Leadership Circle Sponsorship
Sponsorship level $5,000
The Chamber is seeking a partnership with the City through our Leadership Circle Sponsorship program. This program allows us to create a partnership with our sponsors to help further their goals and help promote the City as a partner to our business community and residents.

The recommended level would include:

Banner Logo/link on every monthly email newsletter and on Pismo Chamber website. $5,000 value Full member website login upgrade access, $500 value
Sponsor table at the annual Taste of Pismo, $1,250 value Four tickets to 2 wine walks, $280 value
Email blast & Facebook business spotlight every quarter, $1,600 value Mention and logo present at every monthly Mixer, quarterly Mayor's Luncheon and Installation Dinner,and other events $1,000
Free booth at expos., $100 value

1:21 PM
01/13/23
Cash Basis
Pismo Beach Chamber of Commerce
Balance Sheet
As of December 31, 2022
ASSETS
Current Assets
Checking/Savings
Petty Cash
Rabobank Operating Chking-3101
Dec 31, 22
100.00
75,368.36
Total Checking/Savings 75,468.36
Total Current Assets 75,468.36
Fixed Assets
FIXED ASSETS.
14100 • Furniture & Fixtures
14200 • Machinery & Equipment
14400 • Computer Hardware/Software
14500 • Leasehold Improvements
14600 • Accumulated Depreciation
Total FIXED ASSETS.

Total Fixed Assets

TOTAL ASSETS

LIABILITIES & EQUITY
Equity
Net Unrestricted Assets
Net Income
3,336.00
23, 013.95
3,936.00
14,226.00
-44,092.00
419.95
419.95
75,888.31
45,259.15
30,629.16
Total Equity 75,888.31
TOTAL LIABILITIES & EQUITY 75,888.31

1:21 PM
01/13/23
Cash Basis
Pismo Beach Chamber of Commerce
Profit & Loss
January through December 2022
Ordinary Income/Expense
Income
COMMUNITY EVENTS.

CLAM FEST
Wine Walk
Admission
Raffle - Wine Walk
Jan - Dec 22
7,245.00
885.00
Total Wine Walk 8,130.00
Total CLAM FEST 8,130.00
Community Senior Resource Event 175.00
Portuguese Kids 1,161.00
TASTE OF PISMO*
Taste of Pismo.

Admission 44,100.00
Raffle 2,335.00
Silent Auction 3,595.00
Sponsorships 9,873.64
Total Taste of Pismo.

Total TASTE OF PISMO*

UGLY SWEATER SIP & SHOP
Total COMMUNITY EVENTS.

FACILITY SERVICES
Internet Services
Janitorial Services
59, 903.64
59,903.64
1,950.00
71, 319.64
283.08
198.00
Total FACILITY SERVICES 481.08

FARMERS MARKET
Booth Fee 15,661.00
Total FARMERS MARKET 15,661.00

MEMBERS
LEADERSHIP CIRCLE.

Silver Sponsors
5,000.00
Total LEADERSHIP CIRCLE. 5,000.00

MEMBERSHIPS
Member Dues
Membership Income
Friends of the Chamber
Total Membership Income
Total MEMBERSHIPS

MIXERS & MEMBERSHIP ACTIVITIES
GALA 100 Years
Installation Dinner.

Total MIXERS & MEMBERSHIP ACTIVITIES
40305 • Public Works Lunch
Total MEMBERS

RESTRICTED GRANTS
Pismo Beach City
San Luis Obsipo County
Total RESTRICTED GRANTS
38,150.00

50.00 50.00
38,200.00
532.42
48,496.17
20,000.00
3,000.00
23,000.00

1:21 PM
01/13/23
Cash Basis
Pismo Beach Chamber of Commerce
Profit & Loss
January through December 2022
Uncategorized Income
Total Income
Gross Profit
Jan - Dec 22

35.00 158,992.89
158,992.89
Expense

EVENT EXPENSES
100 YEAR GALA
Cancelation Fee for Linens 650.00
Catering 1,000.00
Centerpieces 179.31
Credit Card Fees 233.15
FaceBook 40.09
Signs 86.18
Supplies 129.12
A • Promotional 59.91
Total 100 YEAR GALA 2,377.76

CAR SHOW
Meeting Expenses 293.94
Total CAR SHOW 293.94

CLAM FESTIVAL
Credit Card Fees
Parade Expenses
Raffle Expenses
Wine Walk Clam Fest
Credit Card Fees
Permits & Licenses
Raffle Expenses
Wine & Beer
Wine Glasses

22.94 947.09
240.48
277.91
750.00
213.57
447.13
213.30
Total Wine Walk Clam Fest 1,901.91
Total CLAM FESTIVAL 3,112.42
CLASSIC CALIFORNIA CHRISTMAS.

Awards 129.30
Raffle Expenses 215.48
Surf Boards. 332.39
Ugly Sweater Sip n Shop
Credit Card Fees 72.40
Permits & Licenses 1,004.00
Wine Glasses 1,116.89
Total Ugly Sweater Sip n Shop 2,193.29
Total CLASSIC CALIFORNIA CHRISTMAS. 2,870.46

COMMUNITY SENIOR RESOURCE EVENT
Credit Card Fees
Food & Supplies
Raffle Expenses

10.05 620.06

80.00 Total COMMUNITY SENIOR RESOURCE EVENT 710.11

FARMERS MARKET
Band 4,550.00
Contract Labor 5,720.00
Farmer's Market Supplies 65.89
Market Fees 164.00
Meeting Expenses 101.58
Permits & License 0.00
Small Equipment & Tools 215.91
Vendor Appreciation 527.57

1:21 PM Pismo Beach Chamber of Commerce
01/13/23 Profit & Loss
Cash Basis January through December 2022
Zoho-Zoho Database
Total FARMERS MARKET

SPECIAL PROJECTS
68459 • Candidate Forums
Total SPECIAL PROJECTS
Jan - Dec 22
444.00
11,788.95
100.00
100.00

TASTE OF PISMO
Auction Supplies 617.02
Awards 1,061.04
Credit Card Fees 1,330.92
Entertainment 2,500.00
Glasses/Lanyards 2,263.24
Permits 180.00
Printing & Copy 258.65
Raffle Expenses 431.45
Refunds 160.00
Rentals 14,068.85
Set-up & Clean-up 800.00
Sponsor Table Decor 530.00
Supplies 392.12
Total TASTE OF PISMO 24,593.29

VETERANS DAY
Cleaning Expenses
Plaques
Total VETERANS DAY
Total EVENT EXPENSES
-63.96

80.81 16.85
45,863.78

FACILITIES SERVICES
Custodial Services 1,100.00
Total FACILITIES SERVICES 1,100.00

MEMBER EXPENSES

MEMBERSHIP EXPENSES
Ambassador Expense 143.17
Board Retreat 223.90
Credit Card Fees 190.67
Supplies 282.62
Total MEMBERSHIP EXPENSES 840.36

MIXERS & MEMBERSHIP ACTIVITIES
Installation Dinner
Catering 6,974.44
Credit Card Fees 172.83
Recognition Awards 237.05
Refunds -754.25
Total Installation Dinner 6,630.07
Mixer Expenses 119.80
Party on Price 541.63
Public Service Breakfast 423.66
Supplies 62.48
Town Hall Meetings 204.19
60374 • Public Works Lunch 548.00
Total MIXERS & MEMBERSHIP ACTIVITIES
Total MEMBER EXPENSES

OPERATIONS

ADMINISTRATIVE EXPENSES
8,529.83
9,370.19

1:21 PM
01/13/23
Cash Basis
Pismo Beach Chamber of Commerce
Profit & Loss
January through December 2022
Bank Fees
Chambermaster Fees
Computer/Software Expense
Dues & Subscriptions
Educational Seminars
Equipment Purchases
Liability Insurance
Office Supplies
Postage & Delivery
Printing & Copies
Professional Services
Deb Geaslen
Jan - Dec 22

90.00 6,205.41
860.37
249.00

70.00 716.13
2,873.00
2,145.88

36.17 273.50
2,891.25
Total Professional Services 2,891.25
Supplies Operations 1,353.76
Tax Accounting/Preparation 700.00
Technology 5,551.46
Zoom Expense 659.88
Total ADMINISTRATIVE EXPENSES 24,675.81

BUILDING EXPENSES
Electric 2,320.68
Fire Extinguisers 135.70
Gas Company 1,020.92
Janitorial Supplies 22.53
Office Rent Expense
Common Areas 2,040.00
Office Rent Expense - Other 12,000.00
Total Office Rent Expense 14,040.00
Telephone & Internet Services
Total BUILDING EXPENSES

TAXES PAID
County Unsecured Property Tax
Sales Tax
3,293.52
20,833.35
219.12
Total TAXES PAID 248.71
Total OPERATIONS 45,757.87
Uncategorized Expenses 0.00
Total Expense 102,091.84
Net Ordinary Income 56,901.05
Other Income/Expense
Other Income
In -Kind Donations 288.88
Total Other Income 288.88
Other Expense
In -Kind Expenses 288.88
Settlement Expenses 26,271.89
Voids 0.00
Total Other Expense
Net Other Income
Net Income
26, 560.77
-26,271.89
30,629.16

J
K
L
Form 990—EZ
Department of the Treasury
Internal Revenue Service
EXTENDED TO NOVEMBER 15, 2022
Short Form
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) ► Do not enter social security numbers on this form, as it may be made public. ► Go to www.irs.gov/Form990EZ for instructions and the latest information.

OMB No. 1545-0047
2021
Open to Public
Inspection
A For the 2021 calendar year, or tax year beginning and ending B Check if
applicable:

Address change
Name change
nInitial return
Final return/
I I terminated
I (Amended return
UApplication pending
C Name of organization

PISMO BEACH CHAMBER OF COMMERCE
Number and street (or P.O. box if mail is not delivered to street address) 649 DOLLIVER AVE
City or town, state or province, country, and ZIP or foreign postal code PISMO BEACH, CA 93449
Room/suite
G Accounting Method: n Cash IAccrual Other (specify) ►
Website: ► WWW • P I SMOCHAMBER . COM
Tax-exempt status (check only one) — n 501(c)(3) CX 501(c) ( 6 )/(insert no.) n 4947(a)(1) or n 527 D Employer identification number

E Telephone number
805-773-4382
F Group Exemption
Number ►
H Check ► n if the organization is
not required to attach Schedule B
(Form 990).

Form of organization: X I Corporation n Trust n Association n Other Add lines 5b, 6c, and 7b to line 9 to determine gross receipts. If gross receipts are $200,000 or more, or if total assets (Part II, column (BD $500,000 or more, file Form 990 instead of Form 990-EZ Part I Revenue, Expenses, and Changes in Net Assets or Fund Balances (see the instructions for Part I) $
107,886.

Revenue I
1 2
3 4
5a
b
c
6 a
b
c
d
7a
b
c
8 9
Contributions, gifts, grants, and similar amounts received Program service revenue including government fees and contracts Membership dues and assessments
Investment income
Gross amount from sale of assets other than inventory
Less: cost or other basis and sales expenses
Gain or (loss) from sale of assets other than inventory (subtract line 5b from line 5a) Gaming and fundraising events:

Gross income from gaming (attach Schedule G if greater than $15,000) _...... _. 16a
Gross income from fundraising events (not including $
5a
1 1
2 2,449 .
3 48,304.
4 5c
5b
6d
32,691.
of contributions
57,132.
from fundraising events reported on line 1) (attach Schedule G if the sum of such gross income and contributions exceeds $15,000)
Less: direct expenses from gaming and fundraising events Net income or (loss) from gaming and fundraising events (add lines 6a and 6b and subtract Gross sales of inventory, less returns and allowances
Less: cost of goods sold
Gross profit or (loss) from sales of inventory (subtract line 7b from line 7a) Other revenue (describe in Schedule 0)
Total revenue. Add lines 1, 2, 3, 4, 5c, 6d, 7c, and 8
16b
6c
I 2 4 , 4 41.
line
7a
6c)
7c
7b
►
8 9
83,445 .

Expenses 1
10 Grants and similar amounts paid (list in Schedule 0) 10 11
Benefits paid to or for members
. ,
11 12
Salaries, other compensation, and employee benefits
12 13
Professional fees and other payments to independent contractors 13 4,713.
14 Occupancy, rent, utilities, and maintenance
14 20,879.
15 Printing, publications, postage, and shipping
15 55 .
16 Other expenses (describe in Schedule 0)
SEE SCHEDULE 0
16 41,928.
17 Total expenses. Add lines 10 through 16
It.
17 67,575 .

Net Assets
18 Excess or (deficit) for the year (subtract line 17 from line 9) 18 15,870.
19 Net assets or fund balances at beginning of year (from line 27, column (A)) (must agree with end -of -year figure reported on prior year's return) 19 29,389 .
20 Other changes in net assets or fund balances (explain in Schedule 0) 20 0 •
21 Net assets or fund balances at end of year. Combine lines 18 through 20 ►
21 45,259 .

LHA For Paperwork Reduction Act Notice, see the separate instructions.

Form 990-EZ (2021)
132171 12-08-21

Form 990-EZ (2021) PISMO BEACH CHAMBER OF COMMERCE
Balance Sheets (see the instructions for Part II)
Check if the organization used Schedule 0 to respond to any question in this Part II Part II

IXI
22 Cash, savings, and investments
23 Land and buildings
24 Other assets (describe in Schedule 0) SEE SCHEDULE 0 25 Total assets
26 Total liabilities (describe in Schedule 0) SEE SCHEDULE 0 27 Net assets or fund balances (line 27 of column (B) must agree with line 21) (A) Beginning of year
(B) End of year
14,725.
22 44,839.
3,911.
23 420.
13,403.
24 0 .
32,039.
25 45,259.
2 , 65 0 .
26 0
2 9 , 38 9 .
27 4 5 , 25 9 .

Part III Statement of Program Service Accomplishments (see the instructions for Part III) Expenses
(Required for section
501(c)(3) and 501(c)(4)
organizations; optional for
others.)
Check if the organization used Schedule 0 to respond to any question in this Part III ( X I What is the organization's primary exempt purpose? SEE SCHEDULE 0 Describe the organization's program service accomplishments for each of its three largest program services, as measured by expenses. Ina clear and concise manner, describe the services provided, the number of persons benefited, and other relevant information for each program title. 28 THE PURPOSE OF THE PISMO BEACH CHAMBER OF COMMERCE IS TO 28a

REPRESENT COMMERCIAL, INDUSTRIAL AND PROFESSIONAL
BUSINESSES BY PROMOTING THE ECONOMIC WELFARE OF THE AREA. (Grants $ ) If this amount includes foreign grants, check here kl> I 29 29a
(Grants $ ) If this amount includes foreign grants, check here 1 30 30a
(Grants $ ) If this amount includes foreign grants, check here POP 31 Other program services (describe in Schedule 0)
(Grants $ ) If this amount includes foreign grants, check here 31a
b I
32 Total program service expenses (add lines 28a through 31 a) p 32 Pant IV
List of Officers, Directors, Trustees, and Key Employees (list each one even if not compensated - see the instructions for Part IV) Check if the organization used Schedule 0 to respond to any question 'n this Part IV I X )
(a) Name and title
(b) Average hours
per week devoted to
position
(c) Reportable
compensation (Forms
w-2/1o99-fslsci
1099-NEG)
(if not paid, enter -0-)
(d) Health benefits,
contributions to
employee benefit
plans, and deferred
compensation
(e) Estimated
amount of other
compensation

AURASH AFHAR

0.00 0.

0. 0.

DIRECTOR

DENISE WASSON

0.00 0.

0. 0.

DIRECTOR

SHEILA SANFORD

0.00 0.

0. 0.

DIRECTOR

DARRYL BUCK

0.00 0.

0. 0.

DIRECTOR

SHELLY ROZEBOOM

0.00 0.

0. 0.

DIRECTOR

JAMES DAVISON

0.00 0.

0. 0.

DIRECTOR

JAMIE HABIG

0.00 0.

0. 0.

DIRECTOR

MIKE FREY

0.00 0.

0. 0.

DIRECTOR

TERRIE VIEIRA

0.00 0.

0. 0.

DIRECTOR

JUDY COTTA

1.00 0.

0. 0.

TREASURER

LISA KRUITBOSCH

1.00 0.

0. 0.

PAST PRESIDENT

VALERIE MERCADO

1.00 0.

0. 0.

CHAIRPERSON
132172 12-08-21
Form 990-EZ (2021)

Form 990-EZ (2021) PISMO BEACH CHAMBER OF COMMERCE
Other Information (Note the Schedule A and personal benefit contract statement requirements in the instructions for Part V.) Check if the organization used Sch. 0 to respond to any question in this Part V Part V

33 Did the organization engage in any significant activity not previously reported to the IRS? If 'Yes," provide a detailed description of each activity in Schedule 0
34 Were any significant changes made to the organizing or governing documents? If "Yes;' attach a conformed copy of the amended documents if they reflect a change to the organization's name. Otherwise, explain the change on Schedule 0. See instructions 35 a Did the organization have unrelated business gross income of $1,000 or more during the year from business activities (such as those reported on lines 2, 6a, and 7a, among others)?
b If "Yes" to line 35a, has the organization filed a Form 990-T for the year? If "No,' provide an explanation in Schedule 0 c Was the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization subject to section 6033(e) notice, reporting, and proxy tax requirements during the year? If "Yes;' complete Schedule C, Part III 36 Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? If "Yes,' complete applicable parts of Schedule N
37a Enter amount of political expenditures, direct or indirect, as described in the instructions ► I 37a I 0 . b Did the organization file Form 1120-POL for this year? 38 a Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee; or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? b If 'Yes;' complete Schedule L, Part II, and enter the total amount involved 38b N/A 39 Section 501(c)(7) organizations. Enter:
a Initiation fees and capital contributions included on line 9 b Gross receipts, included on line 9, for public use of club facilities 40a Section 501(c)(3) organizations. Enter amount of tax imposed on the organization during the year under:
section 4911 ► N/A ; section 4912 ► N/A ; section 4955 IN. N/A b Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? If "Yes;' complete Schedule L, Part I c Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Enter amount of tax imposed on organization managers or disqualified persons during the year under sections 4912, 4955, and 4958 ► N/A d Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Enter amount of tax on line 40c reimbursed by the organization ► N/A
e All organizations. At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? If 'Yes;' complete Form 8886-T
41 List the states with which a copy of this return is filed ► CA 39a
39b
N/A
N/A
Yes
33 34
35a
35b
N/
35c
36 37b
38a
40b
N/
A
40e
42 a The organization's books are in care of ► P I SMO BEACH CHAMBER OF COMME Telephone no. ► 8 0 5 - 7 7 3 - 4 3 8 2 Located at ► 581 DOLLIVER STREET, PISMO BEACH, CA
ZIP+4 P. 93449
b At any time during the calendar year, did the organization have an interest in or a signature or other authority over a financial account in a foreign country (such as a bank account, securities account, or other financial account)?
If 'Yes,' enter the name of the foreign country OP -
See the instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). c At any time during the calendar year, did the organization maintain an office outside the United States? If "Yes;' enter the name of the foreign country ►
43 Yes
42b
No
X
42c
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-EZ in lieu of Form 1041 - Check here ► and enter the amount of tax-exempt interest received or accrued during the tax year ► I 43 I N/A 44 a Did the organization maintain any donor advised funds during the year? If "Yes;' Form 990 must be completed instead of Form 990-EZ 44a X
b Did the organization operate one or more hospital facilities during the year? If 'Yes,' Form 990 must be completed instead of Form 990-EZ 44b X
c Did the organization receive any payments for indoor tanning services during the year? 44c X d If' Yes" to line 44c, has the organization filed a Form 720 to report these payments? If "No;' provide an explanation in Schedule 0
Yes
No
44d
45 a Did the organization have a controlled entity within the meaning of section 512(b)(13)? 45a X b Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If 'Yes,' Form 990 and Schedule R may need to be completed instead of Form 990-EZ. See instructions 45b
Form 990-EZ (2021)
132173 12-08-21

Form 990-EZ (2021)
46 Pa

PISMO BEACH CHAMBER OF COMMERCE

Did the organization engage, directly or indirectly, in political campaign activities on behalf of or in opposition to candidates for public office? If 'Yes " complete Schedule C, Part I
1 VI Section 501(c)(3) Organizations Only
All section 501(c)(3) organizations must answer questions 47-49b and 52, and complete the tables for lines 50 and 51.

Check if the organization used Schedule 0 to respond to any question in this Part VI Yes

No
47 Did the organization engage in lobbying activities or have a section 501(h) election in effect during the tax year? If 'Yes," complete Sch. C, Part II
48 Is the organization a school as described in section 170(b)(1)(A)(ii)? If "Yes,' complete Schedule E 49a Did the organization make any transfers to an exempt non -charitable related organization? b If "Yes;' was the related organization a section 527 organization? 50 Complete this table for the organization's five highest compensated employees (other than officers, directors, trustees, and key employees) who each received more 46 Yes
No
47 48
49a
49b
than $100,000 of compensation from the organization. If there is none, enter "None." (a) Name and title of each employee
N/A
(b) Average hours
per week devoted to
position
(c) Reportable
compensation (Forms
W-2/1099-MISC/
1099-NEC)
C}
(d) Health benefits,
coemntributions
yee efit
plans, and deferred
compensation
(e) Estimated
amount of other
compensation
p
f Total number of other employees paid over $100,000
51 Complete this table for the organization's five highest compensated independent contractors who each received more than $100,000 of compensation from the organization. If there is none, enter "None.' N/A
(a) Name and business address of each independent contractor (b) Type of service
(c) Compensation
d Total number of other independent contractors each receiving over $100,000 ► 52 Did the organization complete Schedule A? Note: All section 501(c)(3) organizations must attach a completed Schedule A ► n Yes No
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Late
Sign
Here
Signature of officer
10, JUDY COTTA, TREASURER
Type or print name and title
Paid
Preparer
Use Only
Print/Type preparer's name
BENJAMIN R. WATSON,
CPA
Preparer's signature
Date
08/12/22
Check n if PTIN
self- employed
P02190740
Firm name
► MCDERMOTT & APKARIAN , LLP
Firm'sEIN ►27-1144439
Firm's address ► 241 SOUTH BROADWAY , # 2 01
ORCUTT, CA 93455
May the IRS discuss this return with the preparer shown above? See instructions Phone no. 805-925-8729
► ® Yes 111 No
Form 990-EZ (2021)
132174 12-08-21

SCHEDULE G
(Form 990)
Department of the Treasury
Internal Revenue Service
Name of the organization
Part!
Supplemental Information Regarding Fundraising or Gaming Activities Complete if the organization answered "Yes" on Form 990, Part IV, line 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a.

Attach to Form 990 or Form 990-EZ.
1110- Go to www.irs.gov/Form990 for instructions and the latest information.

PISMO BEACH CHAMBER OF COMMERCE
OMB No. 1545-0047
2021
Open to Public
Inspection
Employer identification number

Fundraising Activities. Complete if the organization answered "Yes" on Form 990, Part IV, line 17. Form 990-EZ filers are not required to complete this part.
1 Indicate whether the organization raised funds through any of the following activities. Check all that apply. e 0 Solicitation of non -government grants
f n Solicitation of government grants
g X[] Special fundraising events
a I I Mail solicitations
b I I Internet and email solicitations
c ri
Phone solicitations
d El In -person solicitations
2 a Did the organization have a written or oral agreement with any individual (including officers, directors, trustees, or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services? n Yes L1 No b If "Yes," list the 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is to be compensated at least $5,000 by the organization.
(i) Name and address of individual
or entity (fundraiser)
(ii) Activity
(iii) Did
er
have fundraiser
or control of
contributions?
(iv) Gross receipts
from activity
(v) Amount paid
to (or retained by)
fundraiser
listed in col. (i)
(vi) Amount paid
to (or retained by)
organization
Yes
No
Total
3 List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.

CA
LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. Schedule G (Form 990) 2021 132081 10-21-21

Schedule G (Form 990) 2021 PISMO BEACH CHAMBER OF COMMERCE Page 2 Fundraising Events. Complete if the organization answered "Yes" on Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990 EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.

Part II
Revenue I
1 Gross receipts
2 Less: Contributions
3 Gross income (line 1 minus line 2)
(a) Event #1

TASTE OF
PISMO
(b) Event #2

FARMERS
MARKET
(c) Other events
7 (d) Total events
(add col. (a) through
col. (c))
;> (event type)
(event Type)
(total number)
33,073.
13,715.
10,344.
57,132.
33,073.
13,715.
10,344.
57,132.

Direct Expenses I
4 Cash prizes
5 Noncash prizes
6 Rent/facility costs
7 Food and beverages
8 Entertainment
9 Other direct expenses
10 Direct expense summary. Add lines 4 through
11 Net income summary. Subtract line 10 from line
16,890.
4,599.
2,952.
24,441.
9 in column (d) Illot
3, column (d)
24,441.
32,691.

Part III
Gaming. Complete if the organization answered "Yes" on Form 990, Part IV. line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
d
d
a)
2 1 Gross revenue
(a) Bingo
(b) Pull tabs/instant
bingo/progressive bingo
(c) Other gaming
(d) Total gaming (add
col. (a) through col. (c))
8)
4)
8)
N
L
8)
112
2 Cash prizes
3 Noncash prizes
4 Rent/facility costs
5 Other direct expenses
6 Volunteer labor
n Yes
No
I
Yes
I-7 No
n Yes
No
7 Direct expense summary. Add lines 2 through 5 in column (d) 8 Net gaming income summary. Subtract line 7 from line 1, column (d) 9 Enter the state(s) in which the organization conducts gaming activities:

Yes I I No
a Is the organization licensed to conduct gaming activities in each of these states? b If "No," explain:
10a Were any of the organization's gaming licenses revoked, suspended, or terminated during the tax year? b If "Yes," explain:

Yes Il No
132082 10-21-21
Schedule G (Form 990) 2021

Schedule G (Form 990) 2021 P I SMO BEACH CHAMBER OF COMMERCE Page 3 11 Does the organization conduct gaming activities with nonmembers? n Yes = No 12 Is the organization a grantor, beneficiary or trustee of a trust, or a member of a partnership or other entity formed to administer charitable gaming? n Yes [1 No
13 Indicate the percentage of gaming activity conducted in:
a The organization's facility 1 13a %
b An outside facility 13b %
14 Enter the name and address of the person who prepares the organization's gaming/special events books and records:

Name Pio
Address
15a Does the organization have a contract with a third party from whom the organization receives gaming revenue? b If "Yes," enter the amount of gaming revenue received by the organization 110. $ and the amount of gaming revenue retained by the third party 010. $
c If "Yes," enter name and address of the third party:

Yes n No
Name
Address
16 Gaming manager information:

Name
Gaming manager compensation 1110. $
Description of services provided I►
Director/officer
fl Employee 1 I Independent contractor
17 Mandatory distributions:
a Is the organization required under state law to make charitable distributions from the gaming proceeds to retain the state gaming license? Yes 0 No
b Enter the amount of distributions required under state law to be distributed to other exempt organizations or spent in the organization's own exempt activities during the tax year , $ Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v); and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information. See instructions.

Part IV
132083 10-21-21
Schedule G (Form 990) 2021

Schedule G (Form 990) PISMO BEACH CHAMBER OF COMMERCE
Page4
Part IV
Supplemental Information (continued)
Schedule G (Form 990)
132084 11-18-21

2021 DEPRECIATION AND AMORTIZATION REPORT
RM 990-EZ PAGE 1
990-EZ
Asset
No.

Description
Date
Acquired
Method
Life
o
v
Line
No.

Unadjusted
Cost Or Basis
Bus
%
Excl
Section 179
Expense
Reduction In
Basis
Basis For
Depreciation
Beginning
Accumulated
Depreciation
Current
Sec 179
Expense
Current Year
Deduction
Ending
Accumulated
Depreciation

FURNITURE & FIXTURES
2 HOTEL BOARD
12/13/99
200DB

5.00 H717
1,260.
1,260.
1,260.

0. 1,260.
3 FILE CABINETS
09/13/00
200DB

5.00 H717
322.
322,
322.

0. 322.
4 CEO OFFICE FURNIUTRE
08/03/03
200DB

7.00 HY17
536.
536.
536.

0. 536.
5 TENT 10 BY 26
07/06/12
200DB

5.00 HY17
473.
237.
236.
236.

0. 236.
6 TENT SMALL AND LARGE
11/27/12
200DB

5.00 HY17
745.
745.
745.

0. 745.
* 990-EZ PG 1 TOTAL

FURNITURE & FIXTURES
3,336.
237.
3,099.
3,099.

0. 3,099.

OTHER
1 OFFICE REMODEL
09/11/07
SL

15.00 H117
14,226.
14,226.
12,965.
841.
13,806.
7 AVAYA PARTNER PHONE SYSTEM
09/09/10
200DB

5.00 HY17
5,374.
5,374.
5,374.

0. 5,374.
8 TRAILER
03/11/14
200DB

7.00 H717
700.
700.
668,

32. 700.
9 COMPUTER
07/01/14
200DB

5.00 H717
1,000.
1,000.
1,000.

0. 1,000.
10 MONITOR
07/15/12
200DB

5.00 HY17
1,000.
1,000.
1,000.

0. 1,000.
11 COMPUTER
07/23/14
200DB

5.00 H717
1,000.
1,000.
1,000.

0. 1,000.
12 COMPUTER
08/18/14
200DB

5.00 H717
1,000.
1,000.
1,000.

0. 1,000.
13 SOFTWARE
06/10/14
200DB

3.00 H717
1,395.
1,395.
1,395.

0. 1,395.
14 SERVER
08/25/15
200DB

5.00 H717
2,541.
2,541.
2,541.

0. 2,541.
15 OFFICE EQUIPMENT
06/30/21
200DB

5.00 H719E
12,940.
12,940.
12,940.
128111 04-01-21
(D) - Asset disposed
* ITC, Salvage, Bonus, Commercial Revitalization Deduction, GO Zone

2021 DEPRECIATION AND AMORTIZATION REPORT
FORM 990-EZ PAGE 1
990-EZ
Asset
No,
Description
P
Date
Acquired
Method
Life
c
v
Line
Unadjusted
Cost 0r Basis
Bus
/
Excl
Section 179
Expense
Reduction In
Basis
Basis For
Depreciation
Beginning
Accumulated
Depreciation
Current
Sec 179
Expense
Current Year
Deduction
Ending
Accumulated
Depreciation
* 990-EZ PG 1 TOTAL OTHER
41,176.
12,940,
28,236,
26,943,
13,813.
27,816,
* GRAND TOTAL 990-EZ PG 1
DEPR
44,512.
13,177.
31,335.
30,042.
13,813.
30,915.

CURRENT YEAR ACTIVITY

BEGINNING BALANCE
31,572.
237.
31,335.
30,042.
30,915.

ACQUISITIONS
12,940.
12,940.

0. 0.

0. DISPOSITIONS/RETIRED

0. 0.

0. 0.

0. ENDING BALANCE
44,512.
13,177.
31,335.
30,042.
30,915,

ENDING ACCUM DEPR
44,092.

ENDING BOOK VALUE
420.
128111 04-01-21
(D) - Asset disposed
* ITC, Salvage, Bonus, Commercial Revitalization Deduction, GO Zone

SCHEDULE
(Form 990)
Department of the Treasury
Internal Revenue Service
Name of the organization
SuppD m ta9 Drformatjon to Form 990 or 990-ET
Complete to provide information for responses to specific questions on Form 990 or 990-EZ or to provide any additional information.

Attach to Form 990 or Form 990-EZ.
10- Go to www.irs.gov/Form990 for the latest information.

PISMO BEACH CHAMBER OF COMMERCE
OMB No. 1545-0047
2 21
Open to Public
Inspection
Employer identification number

FORM 990-EZ, PART I, LINE 16, OTHER EXPENSES:

DESCRIPTION OF OTHER EXPENSES:

CHAMBERMASTER FEES

DUES AND SUBSCRIPTIONS

INSURANCE

OFFICE EXPENSES

PROGRAM SERVICES COST

TAXES AND LICENSES

STORAGE

SUPPLIES

DEPRECIATION
TOTAL TO FORM 990-EZ, LINE 16
AMOUNT:
5,421.
750.
2,781.
11,961.
5,785.
767.
182.
468.
13,813.
41,928.

FORM 990-EZ, PART II, LINE 24, OTHER ASSETS:

DESCRIPTION

MACHINERY AND EQUIPMENT

MISCELLANEOUS
TOTAL TO FORM 990-EZ, LINE 24
BEG. OF YEAR

32. 13,371.
13,403.

END OF YEAR

0. 0.

0. FORM 990-EZ, PART II, LINE 26, OTHER LIABILITIES:

DESCRIPTION
BEG. OF YEAR END OF YEAR

LOAN - WASSON
2,650. 0.

FORM 990-EZ, PART III, PRIMARY EXEMPT PURPOSE - PROMOTE TOURISM AND OTHER BUISNESS THROUGHOUT THE PISMO BEACH COMMUNITY.

LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. Schedule 0 (Form 990) 2021 132211 11-11-21

Schedule 0 (Form 990) 2021
Name of the organization

PISMO BEACH CHAMBER OF COMMERCE

Employer identification number

FORM 990-EZ, PART V, INFORMATION REGARDING PERSONAL BENEFIT CONTRACTS:

THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY, OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.

THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY, OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
132212 11-11-21
Schedule 0 (Form 990) 2021

Schedule 0 (Form 990)

Name of the organization

PISMO BEACH CHAMBER OF COMMERCE
Employer identification number

Part IV
Last of Officers, Directors, Trustees, and Key Employees. List each one even if not compensa ed. {see the instructions for Part IV )
(a) Name and title
(b) Average hours
per week devoted to
position
(C) Reportable
compensation (Forms
W-2/1099-MIsc)
(If not paid, enter -0-)
(d) Health benefits,
contributions to
employee benefit
plans, and deterred
compensation
(e) Estimated
amount of other
compensation

JEANETTE VIERRA

VICE CHAIR

1.00 132471 11-18-21
Schedule 0 (Form 990)

Form 4562
Department of the Treasury
Internal Revenue Service (99)
Name(s) shown on return
Depreciation and Amortization
(Including Information on Listed Property) 990-EZ
► Attach to your tax return.
► Go to www.irs.gov/Form4562 for instructions and the latest information.

PISMO BEACH CHAMBER OF COMMERCE
Business or activity to which this form relates
FORM 990-EZ PAGE 1
OMB No. 1545-0172
2021
Attachment
Sequence No. 179
Identifying number

Part I
1 Maximum amount (see instructions)
2 3
4 5
6 Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part I. 1,050,000.

Total cost of section 179 property placed in service (see instructions) Threshold cost of section 179 property before reduction in limitation Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If married filing separately, see instructions (a) Description of property
(b) Cost (business use only)
(c) Elected cost
1 2
3 2,620,000.
4 5
7 7 Listed property. Enter the amount from line 29
8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 9 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2020 Form 4562 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 12 Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11 13 Carryover of disallowed deduction to 2022. Add lines 9 and 10, less line 12 ► 13 Note: Don't use Part II or Part III below for listed property. Instead, use Part V. 8 9
10 11
12 Part!!
Special Depreciation Allowance and Other Depreciation (Don't include listed property.) 14 Special depreciation allowance for qualified property (other than listed property) placed in service during the tax year
15 Property subject to section 168(f)(1) election
16 Other depreciation (including ACRS)
Part III
MACRS Depreciation (Don't include listed property. See instructions.) Section A
14 12,940.
15 16
17 MACRS deductions for assets placed in service in tax years beginning before 2021 18 It you are electing to group any assets placed in service during the tax year into one or more general asset accounts, check here ►u
17 873.

Section B - Assets Placed in Service During 2021 Tax Year Using the General Depreciation System (a) Classification of property
(b) Month and
year placed
in service
(c) Basis for depreciation
(business/investment use
only - see instructions)
(d) Recovery
period
(e) Convention
(f) Method
(g) Depreciation deduction
19a 3-year property
b 5-year property
c 7-year property
d 10-year property
e 15-year property
f 20-year property
g 25-year property
25 yrs.

S/L
h Residential rental property
/

27.5 yrs.

MM
S/L
/

27.5 yrs.

MM
S/L
i Nonresidential real property
/
39 yrs.

MM
S/L
/
MM
S/L
Section C - Assets Placed in Service During 2021 Tax Year Using the Alternative Depreciation System 20a Class life
S/L
b 12-year
12 yrs.

S/L
c 30-year
/
30 yrs.

MM
S/L
d 40-year
/
40 yrs.

MM
S/L
Part IV
Summary (See instructions.)
21 Listed property. Enter amount from line 28
22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21.

Enter here and on the appropriate lines of your return. Partnerships and S corporations - see instr. 23 For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs 23 21
22 13,813.
116251 12-21-21 LHA For Paperwork Reduction Act Notice, see separate instructions.

Form 4562 (2021)

Form 4562 (2021) PISMO BEACH CHAMBER OF COMMERCE

Part V
Listed Property (Include automobiles, certain other vehicles, certain aircraft, and property used for entertainment, recreation, or amusement.)
Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b, columns (a) through (c) of Section A, all of Section B, and Section C if applicable.

Section A - Depreciation and Other Information (Caution: See the instructions for limits for passenger automobiles. ) 24a Do you have evidence to support the business/investment use claimed? I I Yes [] No 24b If "Yes," is the evidence written? I Yes 0 No
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(I)
Type of property
Date
placed in
Business/
investment
Cost or
Basis for depreciation
(business/investment
Recovery
Method/
Depreciation
deduction
Elected
section 179
(list vehicles first)
service
use percentage
other basis
use only)
period
Convention
cost
25 Special depreciation allowance for qualified listed property placed in service during the tax year and used more than 50% in a qualified business use
25 26 Property used more than 50% in a qualified business use:
%
%
27 Property used 50% or less in a qualified business use:

S/L -
%
S/L -
%
S/L -
28 28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 29 Add amounts in column (i), line 26. Enter here and on line 7, page 1 Section B - Information on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other "more than 5% owners" or related person. If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles. 29 30 Total business/investment miles driven during the year (don't include commuting miles)
31 Total commuting miles driven during the year
32 Total other personal (noncommuting) miles
driven
33 Total miles driven during the year.

Add lines 30 through 32
34 Was the vehicle available for personal use
during off -duty hours?
35 Was the vehicle used primarily by a more
than 5% owner or related person?
36 Is another vehicle available for personal
use?
(a)
Vehicle
(b)
Vehicle
(c)
Vehicle
(d)
Vehicle
(e)
Vehicle
(f)
Vehicle
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Section C - Questions for Employers Who Provide Vehicles for Use by Their Employees Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who aren't more than 5% owners or related persons.
37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your employees?
38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees? See the instructions for vehicles used by corporate officers, directors, or 1% or more owners 39 Do you treat all use of vehicles by employees as personal use? 40 41
P
Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the vehicles, and retain the information received? Do you meet the requirements concerning qualified automobile demonstration use? Note: If your answer to 37, 38, 39, 40, or 41 is "Yes," don't complete Section B for the covered vehicles. art VI Amortization
Yes
No
(a)
Description of costs
(b)
Date amortization
begins
(c)
Amortizable
amount
(d)
Code
section
(e)
Amortization
period or percentage
(f)
Amortization
for this year
42 Amortization of costs that begins during your 2021 tax year:
43 Amortization of costs that began before your 2021 tax year 44 Total. Add amounts in column (f). See the instructions for where to report 43 44
116252 12-21-21
Form 4562 (2021)

Form 8879-TE
Department of the Treasury
Internal Revenue Service
IRS e-file Signature Authorization
for a Tax Exempt Entity
For calendar year 2021, or fiscal year beginning
, 2021, and ending , 20
► Do not send to the IRS. Keep for your records.
► Go to www.irs.gov/Form8879TE for the latest information.

Name of filer

PISMO BEACH CHAMBER OF COMMERCE
Name and title of officer or person subject to tax JUDY COTTA

TREASURER
Type of Return and Return Information
Part I
OMB No, 1545-0047
EIN or SSN
2021

Check the box for the retum for which you are using this Form 8879-TE and enter the applicable amount, if any, from the return. Form 8038-CP and Form 5330 filers may enter dollars and cents. For all other forms, enter whole dollars only. If you check the box on line la, 2a, 3a, 4a, 5a, 6a, 7a, 8a, 9a, or 10a below, and the amount on that line for the return being filed with this form was blank, then leave line 1b, 2b, 3b, 4b, 5b, 6b, 7b, 8b, 9b, or lob, whichever is applicable, blank (do not enter -0). But, if you entered -0- on the return, then enter -0- on the applicable line below. Do not complete more than one line in Part I.
la Form 990 check here ► 0 b Total revenue, if any (Form 990, Part VIII, column (A), line 12) 1b 2a Form 990-EZ check here .. ► IX I b Total revenue, if any (Form 990-EZ, line 9) 2b 83,445. 3a Form 1120-POL check here ► n b Total tax (Form 1120-POL, line 22) 3b 4a Form 990-PF check here __. ► Q b Tax based on investment income (Form 990-PF, Part V, line 5) 4b 5a Form 8868 check here ► 0 b Balance due (Form 8868, line 3c) 5b 6a Form 990-T check here ► [ I b Total tax (Form 990-T, Part III, line 4) 6b 7a Form 4720 check here ► 0 b Total tax (Form 4720, Part III, line 1) 7b 8a Form 5227 check here ► n b FMV of assets at end of tax year (Form 5227, Item D) 8b 9a Form 5330 check here ► n b Tax due (Form 5330, Part II, line 19) 9b 10a Form 8038-CP check here 00.1 I b Amount of credit payment requested (Form 8038-CP, Part III, line 22) lob Part II
Declaration and Signature Authorization of Officer or Person Subject to Tax Under penalties of perjury, I declare that n I am an officer of the above entity or I I I am a person subject to tax with respect to (name of entity) , (EIN) and that I have examined a copy of the 2021 electronic return and accompanying schedules and statements, and, to the best of my knowledge and belief, they are true, correct, and complete. I further declare that the amount in Part I above is the amount shown on the copy of the electronic return. I consent to allow my intermediate service provider, transmitter, or electronic return originator (ERO) to send the return to the IRS and to receive from the IRS (a) an acknowledgement of receipt or reason for rejection of the transmission, (b) the reason for any delay in processing the return or refund, and (c) the date of any refund. If applicable, I authorize the U.S. Treasury and its designated Financial Agent to initiate an electronic funds withdrawal (direct debit) entry to the financial institution account indicated in the tax preparation software for payment of the federal taxes owed on this return, and the financial institution to debit the entry to this account. To revoke a payment, I must contact the U.S. Treasury Financial Agent at 1-888-353-4537 no later than 2 business days prior to the payment (settlement) date. I also authorize the financial institutions involved in the processing of the electronic payment of taxes to receive confidential information necessary to answer inquiries and resolve issues related to the payment. I have selected a personal identification number (PIN) as my signature for the electronic return and, if applicable, the consent to electronic funds withdrawal.

PIN: check one box only
n I authorize MCDERMOTT & APKARIAN, LLP
ERO firm name
to enter my PIN
32155
Enter five numbers, but
do not enter all zeros
as my signature on the tax year 2021 electronically filed return. If I have indicated within this return that a copy of the return is being filed with a state agency(ies) regulating charities as part of the IRS Fed/State program, I also authorize the aforementioned ERO to enter my PIN on the return's disclosure consent screen.
n As an officer or person subject to tax with respect to the entity, I will enter my PIN as my signature on the tax year 2021 electronically filed return. If I have indicated within this return that a copy of the return is being filed with a state agency(ies) regulating charities as part of the IRS Fed/State program, I will enter my PIN on the retum's disclosure consent screen.

Signature of officer or person subject to tax ►
Part III Certification and Authentication
Date PIP-
ERO's EFIN/PIN. Enter your six -digit electronic filing identification number (EFIN) followed by your five -digit self-selected PIN. 96480732155
Do not enter all zeros
I certify that the above numeric entry is my PIN, which is my signature on the 2021 electronically filed return indicated above. I confirm that I am submitting this return in accordance with the requirements of Pub. 4163, Modernized a -File (MeF) Information for Authorized IRS e-file Providers for Business Retums.

ERO's signature ► Date ► 0 8 / 12 / 2 2
ERO Must Retain This Form - See Instructions
Do Not Submit This Form to the IRS Unless Requested To Do So LHA For Privacy act and Paperwork Reduction Act Notice, see instructions.

Form 8879-TE (2021)
102521 01-11-22

Form 8868
(Rev. January 2022)
Department of the Treasury
Internal Revenue Service
Application for Automatic Extension of Time To File an
Exempt Organization Return
► File a separate application for each return.
► Go to www.irs.gov/Form8868 for the latest information.

OMB No. 1545-0047
Electronic filing (e-file) You can electronically file Form 8868 to request a 6-month automatic extension of time to file any of the forms listed below with the exception of Form 8870, Information Return for Transfers Associated With Certain Personal Benefit Contracts, for which an extension request must be sent to the IRS in paper format (see instructions). For more details on the electronic filing of this form, visit www.irs.gov/e-file-providers/e-file-for-charities-and-non-profits .

Automatic 6-Month Extension of Time. Only submit original (no copies needed).

All corporations required to file an income tax return other than Form 990-T (including 1120-C filers), partnerships, REMICs, and trusts must use Form 7004 to request an extension of time to file income tax returns.

Type or
print
File by the
due date for
filing your
return. See
instructions.

Name of exempt organization or other filer, see instructions.

PISMO BEACH CHAMBER OF COMMERCE
Taxpayer identification number (TIN)

Number, street, and room or suite no. If a P.O. box, see instructions. 649 DOLLIVER AVE
City, town or post office, state, and ZIP code. For a foreign address, see instructions.

PISMO BEACH, CA 93449
;turn Code for the return that this application is for (file a separate application for each return) 0 1
Application
Is For
Return
Code
Application
Is For
Return
Code
Form 990 or Form 990-EZ
01 Form 1041-A
08 Form 4720 (individual)
03 Form 4720 (other than individual)
09 Form 990-PF
04 Form 5227
10 Form 990-T (sec. 401(a) or 408(a) trust)
05 Form 6069
11 Form 990-T (trust other than above)
06 Form 8870
12 Form 990-T (corporation)
07 PISMO BEACH CHAMBER OF COMMERCE
• The books are in the care of ► 581 DOLL I VER STREET - P I SMO BEACH , CA 934 4 9 Telephone No. ► 805-773-4382 Fax No. ►
• If the organization does not have an office or place of business in the United States, check this box • If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) . If this is for the whole group, check this box O. 1 I . If it is for part of the group, check this box ► I I and attach a list with the names and TINs of all members the extension is for. 1 I request an automatic 6-month extension of time until NOVEMBER 15 , 2022 the organization named above. The extension is for the organization's return for:
► n calendar year 2021 or
Pion tax year beginning
, and ending
, to file the exempt organization return for
2 If the tax year entered in line 1 is for less than 12 months, check reason: 1-7 Initial retum Ti Change in accounting period
Final return
3a If this application is for Forms 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any nonrefundable credits. See instructions.
b If this application is for Forms 990-PF, 990-T, 4720, or 6069, enter any refundable credits and estimated tax payments made. Include any prior year overpayment allowed as a credit. c Balance due. Subtract line 3b from line 3a. Include your payment with this form, if required, by using EFTPS (Electronic Federal Tax Payment System). See instructions. 3a
3b
3c
$
$

0. 0.

0. Caution: If you are going to make an electronic funds withdrawal (direct debit) with this Form 8868, see Form 8453-TE and Form 8879-TE for payment instructions.

LHA For Privacy Act and Paperwork Reduction Act Notice, see instructions.

MAIL TO: DEPARTMENT OF THE TREASURY

INTERNAL REVENUE SERVICE CENTER
OGDEN, UT 84201-0045
Form 8868 (Rev. 1-2022)
123841 01-12-22

10:31 AM
Psmo Beach Chamber of Commerce
08/15/22
Cash Basis
a ance Sheet
As of December 31, 2021
ASSETS
Current Assets
Checking/Savings
10220 • Rabobank Operating Chking-3...
12200 • Petty Cash
Dec 31,21
44,739.20
100.00
Total Checking/Savings 44,839.20
Total Current Assets 44,839.20
Fixed Assets
FIXED ASSETS.
14100 • Furniture & Fixtures
14200 • Machinery & Equipment
14400 • Computer Hardware/Software
14500 • Leasehold Improvements
14600 • Accumulated Depreciation
Total FIXED ASSETS.

Total Fixed Assets

TOTAL ASSETS

LIABILITIES & EQUITY
Equity
32000 • Net Assets
Net Income
3,336.00
23,013.95
3,936.00
14,226.00
-44,092.00
419.95
419.95
45,259.15
29,389.00
15,870.15
Total Equity 45,259.15
TOTAL LIABILITIES & EQUITY 45,259.15
Final Page 1

10:29 AM
Pismo Beach Chamber of Co.:meree
08/15/22
Cash Basis
Gar<ifit Loss
January through December 2021
Ordinary Income/Expense
Income
COMMUNITY EVENTS.

CLASSIC CALIFORNIA CHRISTMAS
Surf Boards
Jan - Dec 21
1,758.31
Total CLASSIC CALIFORNIA CHRISTMAS 1,758.31
OCEANO DUNES RALLY.

TASTE OF PISMO*
Taste of Pismo.

Admission 24,301.72
Designated Driver 116.31
Raffle 2,350.00
Silent Auction 4,055.00
Sponsorships 2,250.00
Total Taste of Pismo.

Total TASTE OF PISMO*
Total COMMUNITY EVENTS.

FACILITY SERVICES
Internet Services
Janitorial Services
1,640.00
33,073.03
33,073.03
36,471.34
410.10
281.00
Total FACILITY SERVICES 691.10

FARMERS MARKET
Booth Fee 12,756.90
Comps -30.00
Other Income 215.00
Sponsor - Band 750.00
Water 23.00
Total FARMERS MARKET
FILHOS

INDIVIDUAL CONTRIBUTIONS

MEMBERS

ADVERTISING
Promotional Materials Sales
T-Shirts Sales
13,714.90
1,545.00

1.00 705.00
Total Promotional Materials Sales 705.00
Total ADVERTISING 705.00
LEADERSHIP CIRCLE.

Gold Sponsors 4,000.00
Total LEADERSHIP CIRCLE. 4,000.00

MEMBERSHIPS
Member Dues
Membership Income
Friends of the Chamber
Total Membership Income
40121 • Member Dues.

Total MEMBERSHIPS

MIXERS & MEMBERSHIP ACTIVITIES
Dinner
Total MIXERS & MEMBERSHIP ACTIVIT...
48,134.00
170.00
170.00
-0.20
48,303.80
2,325.00
2,325.00
Final Page 1

10:29 AM
08/15/22
Cash Basis
Pismo Beach Chamber of Commerce
Prroffi & Loss
January through December 2021
Total MEMBERS

MERCHANDISE
Merchandise
Total MERCHANDISE
50223 • ***********Uncategorized Income
Total Income
Gross Profit
Expense

EVENT EXPENSES

CLAM FESTIVAL
Parade Expenses
Total CLAM FESTIVAL
Jan - Dec 21
55,333.80

5.00 5.00

0.00 107,762.14
107.762.14

58.16 58.16
CLASSIC CALIFORNIA CHRISTMAS.

Awards 129.30
Promotional 31.96
Supplies 175.76
Surf Boards. 518.71
Volunteer Appreciation 70.00
Total CLASSIC CALIFORNIA CHRISTM... 925.73

FARMERS MARKET
Band 2,050.00
Covid Prevention Supplies 126.67
Credit Card Fees 5.30
Farmer's Market Supplies 270.08
Manuals & Subscriptions 50.88
Market Fees 824.00
Permits & License 1,153.25
Small Equipment & Tools 118.54
Total FARMERS MARKET 4,598.72

OCEANO DUNES RALLY
Merchandise 985.91
Total OCEANO DUNES RALLY 985.91

TASTE OF PISMO
Awards 630.34
Credit Card Fees 1,275.13
Entertainment 2,750.00
Equipment 960.56
Glasses/Lanyards 1,610.21
Permits 1,047.00
Refunds 220.00
Rentals 8,029.16
Supplies 87.28
Swag Bags 100.00
Volunteer Appreciation 180.00
Total TASTE OF PISMO 16,889.68

VALENTINES WINE WALK
Supplies 850.00
Total VALENTINES WINE WALK 850.00

VETERANS DAY
Cleaning Expenses
Postage
127.92

2.56 Final Page 2

10:29 AM
08/15/22
Cash Basis
P smo Beach Chamber of Commerce
Profit Loss
January through December 2021
Jan - Dec 21
Total VETERANS DAY 130.48
Total EVENT EXPENSES 24,438.68

FACILITIES SERVICES
Custodial Services 1,050.00
Deposit Refunds 250.00
Workstation 500.00
Total FACILITIES SERVICES 1,800.00

MEMBER EXPENSES

MEMBERSHIP EXPENSES
Credit Card Fees
W.A.C.E.
340.76
180.00
Total MEMBERSHIP EXPENSES 520.76

MIXERS & MEMBERSHIP ACTIVITIES
Awards
Installation Dinner
Credit Card Fees
Installation Dinner - Other
114.80
2,610.00
401.78
Total Installation Dinner 2,724.80
Public Service Breakfast 269.59
Town Hall Meetings 67.69
Total MIXERS & MEMBERSHIP ACTIVIT...

Total MEMBER EXPENSES
MERCHANDISE.

Credit Card Fees
Total MERCHANDISE.
3,463.86

OPERATIONS

BUILDING EXPENSES
Common Areas 1.870.00
Electric 3,044.08
Gas Company 656.85
Janitorial Supplies 165.04
Office Rent Expense 12,564.27
Repairs & Maintenance
Telephone & Internet Services

97.34 2,646.44
3,984.62

2.05 2.05
Total BUILDING EXPENSES 21,044.02
OPERATING EXPENSES**
Chambermaster Fees
Dues & Subscriptions
Liability Insurance
Office Supplies
Other Fees
Postage & Delivery
Professional Services
Deb Geaslen
5,401.05
750.00
2,781.00
4,562.31

20.00 55.00
2,812.50
Total Professional Services 2,812.50
Software 199.00
Storage 182.00
Tax Accounting/Preparation 1,900.00
Technology 6,816.00
Zoom Expense 384.93
66200 • Depreciation Expense 13,813.00
Final Page 3

10:29 AM Pismo Beach Chamber of Commerce
08/15/22 Profit & Loss
Cash Basis January through December 2021
Jan - Dec 21
Total OPERATING EXPENSES** 39,676.79

TAXES PAID
County Property Tax 641.78
Total TAXES PAID 641.78
Total OPERATIONS 61,362.59
Uncategorized Expenses 303.08
Total Expense 91,891.02
Net Ordinary Income 15,871.12
Other Income/Expense
Other Income
Miscellaneous Income 124.00
Total Other Income 124.00
Other Expense
Penalties & Interest 124.97
Total Other Expense 124.97
Net Other Income -0.97
Net Income 15,870.15
Final Page 4

Secretary of State
Certificate of Status
I, SHIRLEY N. WEBER, PH.D., California Secretary of State, hereby certify:

Entity Name: PISMO BEACH CHAMBER OF COMMERCE
Entity No.: 0218973
Registration Date: 07/24/1947
Entity Type: Nonprofit Corporation - CA - Mutual Benefit Formed In: CALIFORNIA
Status: Active
The above referenced entity is active on the Secretary of State's records and is authorized to exercise all its powers, rights and privileges in California.

This certificate relates to the status of the entity on the Secretary of State's records as of the date of this certificate and does not reflect documents that are pending review or other events that may impact status.

No information is available from this office regarding the financial condition, status of licenses, if any, business activities or practices of the entity.

IN WITNESS WHEREOF, I execute this certificate and affix the Great Seal of the State of California this day of August 15, 2022.

47.--7.---)
SHIRLEY N. WEBER, PH.D.

Secretary of State
Certificate No.: 037248432
To verify the issuance of this Certificate, use the Certificate No. above with the Secretary of State Certification Verification Search available at bizfileOnline.sos.ca.gov.

April 14, 2023
To: The City of Pismo Beach
Shower the People (STP) is an all -volunteer mobile shower program that provides access to a free hot shower to the homeless in our community. We have provided over 15,000 showers at our 5 shower sites since 2018. The need for mobile showers for our communities homeless individuals remains great; in just the first quarter of this year STP has already provided 1,480 showers at our shower sites.

The goal of our program is to provide sites that are welcoming, safe, clean and reliable. We believe that an opportunity to take a shower gives homeless individuals the opportunity to be and feel clean, healthy and look presentable. Our volunteers have seen the difference that a hot shower makes to an individual's physical presence as well as to their overall outlook on life.

The cost of our shower program has grown as our customer base has grown. STP volunteers continue to use masks, gloves and strong disinfectant in cleaning the shower units to combat the spread of disease. Every shower guest receives a new pair of underwear, a new t-shirt and new socks, toothbrush/toothpaste, a comb, razor and a 2oz bottle of hand disinfectant. The Arroyo Grande Community Hospital supplies us with freshly washed towels weekly. Our mobile trailer and van are kept in great condition both inside and outside by our Operations Manager, however 15,000 showers later they are aging. Our Board is considering the purchase of a new shower trailer sometime during FY2024 — 25.

Our funding request to the City of Pismo Beach is for $7,500. This funding will allow us to continue our shower program for the homeless at our current busy sites in South County, and in San Luis Obispo.

Thank you,
Gwen Watkins
President
Shower the People
showerthepeopleslo.org

641 11", *
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SHOWER THE PEOPLE
Statement of Financial Position
As of December 31, 2022
TOTAL
ASSETS
Current Assets
Bank Accounts
1000 Pacific Premier - Daily Operations
1050 Pacific Premier CD (9 mo. 3.25%) - 1st Year Operating Reserve 1060 Pacific Premier CD (7Mo. 3%) - 2nd Year Operating Reserve 1100 Pacific Premier - Vehicle / Trailer Reserve Funds
1400 QuickBooks Checking Account
Total Bank Accounts
Total Current Assets
Fixed Assets
6000 Mobile Shower Unit - Rich Trailers
6001 2018 Chev Express Van VIN 25880
6007 Accum depr
Total Fixed Assets

TOTAL ASSETS
28,542.64
50,188.84
50,174.65
116,483.01

0.00 $245,389.14
$245,389.14
41,769.46
25,157.95
-41,079.00
$25,848.41
$271,237.55

LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Credit Cards
Daily Maintenance - Rick (2875) 34.37
Daily Operations - Gary (8565) 39.14
Total Credit Cards $73.51
Other Current Liabilities
suspense 0.00
Total Other Current Liabilities $0.00
Total Current Liabilities $73.51
Total Liabilities $73.51
Equity
Prior Years Equity 200,836.99
Net Revenue 70,327.05
Total Equity $271,164.04
TOTAL LIABILITIES AND EQUITY $271,237.55
Cash Basis Wednesday, February 1, 2023 10:00 AM GMT-8 1/1

Housing Trust Fund
i■ ■ SAN LUIS OBISPO COUNTY
March 31, 2023
Delivered via email to [email protected]
City of Pismo Beach
Attn: Emily France
760 Mattie Road
Pismo Beach, CA 93449
Re: Request for Contribution
Dear Mr. Lewis, Mayor Waage, and Members of the Council:

The San Luis Obispo County Housing Trust Fund (HTF) requests a $3,000 contribution from the City of Pismo Beach for FY 2023-24.

The HTF is a nonprofit organization whose mission is to increase the supply of affordable housing throughout San Luis Obispo County. We serve our mission by providing financing and technical assistance for affordable housing projects. Since our founding in 2003, our local lending activity has been robust. We currently have over $5 million in six committed loans in our pipeline. We recently funded a loan for a 50-unit project located in Pismo Beach (Pismo Terrace). Our closed loans have created or preserved over 1,300 affordable homes throughout San Luis Obispo County. These loans have also assisted in the generation of more than $385 million of economic activity throughout the County.

1. The Goals and Challenges We Met this Year.

A challenge faced by the organization in 2022 was the winding down of our proactive steps to respond to issues created by the pandemic. In addition, we were faced with a steeply rising interest rate environment that forced us to adjust our lending portfolio yields and durations to the increase in interest rates. We are pleased to report that we weathered the pandemic well and have returned to normalized operations.

After taking appropriate steps to adjust our portfolio yields we are also happy to report we exceeded our budget expectations for 2022 and completed another successful year.

An ongoing challenge is access to lending capital so that we may continue to serve our mission of providing financing for the construction of Affordable Housing. Demand for our loans remains robust as evidenced by our 34 existing loans and our 6 pipeline loans. We have more demand than loan funds available, so any increase in our lending capital is immediately put to work to benefit our county.

2. Purpose of the Requested Funds.

This request is being made to cover a small portion (four tenths of a percent) of our $775,000 annual operating budget. The requested funds will be combined with funds from other sources to pay a portion of our operating and lending costs. Without sufficient operating revenues, we cannot provide financing or technical assistance to our communities. Our operating costs are higher this year due to higher interest rates, inflation, and the increase in our loan volume.

3. Benefit to the City of Pismo Beach. The primary benefit to the City of supporting the HTF is that we continually work to increase the supply of affordable housing in Pismo Beach and throughout the 71 Zaca Lane, Suite 130, San Luis Obispo, CA 93401 • (805) 543-5970 • www.slochtf.org

City of Pismo Beach
March 31, 2023

County, including for the many employees who work in Pismo Beach. We also provide technical assistance to the City on housing policies and programs.

4. Relationship to the Council's Goals. The HTF's request supports the Council's goal of managed growth and appropriate design and neighborhood preservation. We support this goal by increasing the housing supply for the many workers who are needed to make your vibrant revitalized downtown function. Without an adequate housing supply across the housing spectrum, there cannot be an adequate workforce or successful businesses.

As requested, our 2022 audit as completed by local accountancy firm Glenn Burdette is attached.

Further information is available on our website. Our articles, bylaws, 501(c)3 letter and other items can be located at https://www.slochtf.org/aboutus.html . The current members of our Board of Directors and our loan committee (the HTF Commission) are listed online at https://www.slochtf.org/ourteam.html Thank you for your time and consideration.

Sincerely,
e It Edda
Jefferson Eckles
Chief Executive Officer
Attachments
Audited Financial Statements

San Luis Obispo County
Housing Trust Fund
MII
Audited Financial Statements
Year Ended December 31, 2022
0 GLENN BURDETTE

San Luis Obispo County Housing Trust Fund
Financial Statements
Year Ended December 31, 2022
Table of Contents
Page
Independent Auditors' Report 3-5
Statement of Financial Position 6
Statement of Activities and Changes in Net Assets 7
Statement of Functional Expenses 8
Statement of Cash Flows 9
Notes to Financial Statements 10-24
Federal Awards
Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
Independent Auditors' Report on Compliance For Each Major Program and on Internal Control over Compliance Required by the Uniform Guidance Schedule of Expenditures of Federal Awards
Notes to Schedule of Expenditures of Federal Awards
Schedule of Findings and Questioned Costs
Status of Prior Year Findings and Questioned Costs — December 31, 2021 2 26-27
28-30
31 32
33 34

CERTIFIED PUBLIC ACCOUNTANTS
0 GLENN BURDETTE
Independent Auditors' Report
To the Board of Directors of
San Luis Obispo County Housing Trust Fund
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying financial statements of San Luis Obispo County Housing Trust Fund (a nonprofit organization), which comprise the statement of financial position as of December 31, 2022, and the related statements of activities, functional expenses, and cash flows for the year then ended, and the related notes to the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of San Luis Obispo County Housing Trust Fund as of December 31, 2022, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the Unites States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of San Luis Obispo County Housing Trust Fund and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Change in Accounting Principle
As discussed in Notes 2 and 8 to the financial statements, during the year ended December 31, 2022, the Organization adopted new accounting guidance, Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842). Our opinion is not modified with respect to this matter.

GLEN HBURDETTE.COM
3 SAN LUIS OBISPO
1150 Palm Street
San Luis Obispo, CA 93401
p 805 544 1441
j 805 544 4351

PASO ROBLES
102 South Vine Street, Ste. A
Paso Robles, CA 93446
p 905 23? 3995
j 805 239 9332

SANTA MARIA
2222 South Broadway, Ste. A
Santa Maria, CA 93454
p 80S9224010
j 805 922 4286

Board of Directors
San Luis Obispo County Housing Trust Fund

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about San Luis Obispo County Housing Trust Fund's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

Auditor's Responsibility for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on financial statements.

In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of San Luis Obispo County Housing Trust Fund's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about San Luis Obispo County Housing Trust Fund's ability to continue as a going concern for a reasonable period of time.
4 Board of Directors
San Luis Obispo County Housing Trust Fund

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

Supplementary Information
Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The accompanying schedule of expenditures of federal awards, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards is fairly stated in all material respects in relation to the financial statements as a whole.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 20, 2023, on our consideration of San Luis Obispo County Housing Trust Fund's internal control financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of San Luis Obispo County Housing Trust Fund's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering San Luis Obispo County Housing Trust Fund's internal control over financial reporting and compliance. &1rj€tL 6)7pev�.

Glenn Burdette Attest Corporation
San Luis Obispo, California
March 20, 2023
5 San Luis Obispo County Housing Trust Fund
Statement of Financial Position
December 31, 2022
Assets
Current assets:

Cash and cash equivalents $ 2,569,728
Contributions and grants receivable 42,325
Interest receivable 23,476
Notes and accrued interest receivable, current portion 2,984,421 Prepaid expenses 6,287
Total current assets 5,626,237
Non -current assets:

Notes and accrued interest receivable, net 13,773,808
Right of use asset 31,753
Total non -current assets 13,805,561
Total assets $ 19,431,798
Liabilities and Net Assets
Current liabilities:

Accounts payable $ 10,210
Accrued payroll liabilities 11,635
Accrued interest payable 18,450
Accrued vacation payable 11,390
Current portion of notes payable 1,382,739
Operating lease liability 32,221
Total current liabilities 1,466,645
Long-term liabilities:

Lines of credit 4,487,992
Notes payable, net of current portion 1,627,951
Total long-term liabilities 6,115,943
Total liabilities 7,582,588
Net assets:

Without donor restrictions
With donor restrictions
Total net assets
9,132,759
2,716,451
11, 849, 210
Total liabilities and net assets $ 19,431,798
The accompanying notes are an integral part of these financial statements. 6 San Luis Obispo County Housing Trust Fund
Statement of Activities and Changes in Net Assets
Year Ended December 31, 2022
Without Donor With Donor
Restrictions Restrictions
Total
Revenues and other support:

Contributions and grants $ 118,206 $ 125 $ 118,331
Fee income 29,938 29,938
Interest income - program 610,814 610,814
Interest income - cash 12,309 12,309
Contributions of nonfinancial assets 5,000 5,000
Total revenues and other support 776,267 125 776,392
Net assets released from restrictions
1,557,607 (1,557,607)
Expenses:

Program Services 353,916 353,916
Supporting Services:

General and administration 134,795 134,795
Fundraising 38,724 38,724
Total expenses 527,435 527,435
Change in net assets 1,806,439 (1,557,482) 248,957
Net assets - beginning of year 7,326,320 4,273,933 11,600,253 Net assets - end of year $ 9,132,759 $ 2,716,451 $ 11,849,210 The accompanying notes are an integral part of these financial statements. 7 San Luis Obispo County Housing Trust Fund
Statement of Functional Expenses
Year Ended December 31, 2022
Supporting Services
Program General and Fund -
Services Administration Raising
Total
Personnel costs:

Salaries and wages $ 145,727 $ 64,768 $ 20,818 $ 231,313 Payroll taxes and benefits 38,828 17,257 5,547 61,632
Total personnel costs 184,555 82,025 26,365 292,945
Dues and subscriptions 2,942 588 392 3,922
Education and training 2,439 488 325 3,252
Insurance 3,480 696 464 4,640
Interest 125,409 125,409
Occupancy 13,412 2,682 1,788 17,882
Office expense 19,434 3,887 2,591 25,912
Professional services 43,980 6,500 50,480
Telephone and communications 2,245 449 299 2,993
$ 353,916 $ 134,795 $ 38,724 $ 527,435
The accompanying notes are an integral part of these financial statements. 8 San Luis Obispo County Housing Trust Fund
Statement of Cash Flows
December 31, 2022
Cash flows from operating activities:

Change in net assets $ 248,957
Adjustments to reconcile change in net assets to
net cash used in operating activities:

Lease expense - operating lease 31,812
Changes in operating assets and liabilities:

Contributions and grants receivable 66,080
Interest receivable (10,937)
Notes and accrued interest receivable (2,957,747)
Prepaid expenses (2,778)
Accounts payable 1,131
Accrued payroll liabilities 307
Accrued interest payable 6,873
Accrued vacation payable (8,093)
Operating lease liabilites (31,344)
Net cash used in operating activities (2,655,739)
Cash flows from financing activities:

Proceeds from borrowing on notes payable 3,179,000
Repayment of notes payable (423,312)
Net cash provided by financing activities 2,755,688
Net increase in cash 99,949
Cash and cash equivalents - beginning of year 2,469,779 Cash and cash equivalents - end of year $ 2,569,728
Supplemental schedule of investing and financing activities:

Cash paid for interest during the year $ 118,536
The accompanying notes are an integral part of these financial statements. 9 San Luis Obispo County Housing Trust Fund
Notes to Financial Statements
December 31, 2022
Note 1: Nature of Business
The San Luis Obispo County Housing Trust Fund (the Organization) is a nonprofit corporation, incorporated in 2003 under the laws of the State of California. The mission of the Organization is to increase the supply of affordable housing for very low, low, and moderate -income residents of San Luis Obispo County, including households with special needs. Rather than directly develop or manage affordable housing, the Organization provides financing and technical assistance to private developers, non-profit corporations and local governments to support the creation and preservation of affordable housing.

The Organization is governed by the board of directors and its elected officers who are responsible for the development of policies. The Executive Director and staff conduct the Organization's activities in accordance with board -established policy.

Note 2: Summary of Significant Accounting Policies
Basis of Accounting
The financial statements have been prepared on the accrual basis of accounting which requires that revenues be recorded when earned and expenses be recorded when incurred and accordingly reflect all significant receivables, payables, and other liabilities.

Revenue and Revenue Recognition
The Organization recognizes contributions when cash, securities, or other assets; an unconditional promise to give; or a notification of a beneficial interest is received. Conditional promises to give, that is, those with a measurable performance or other barrier and a right of return, are not recognized until the conditions on which they depend have been met.

A portion of the Organization's revenue is derived from cost -reimbursable local contracts and grants, which are conditioned upon certain performance requirements and/or the incurrence of allowable qualifying expenses.

Amounts received are recognized as revenue when the Organization has incurred expenditures in compliance with specific contract or grant provisions. Amounts received prior to incurring qualifying expenditures are reported as refundable advances in the statement of financial position.

Additionally, revenue is derived from the interest income related to notes receivable that the Organization has outstanding. Interest on the notes receivable is recognized over the term of the note and is calculated using the contractual interest rates indicated on each note on principal amounts outstanding. 10 San Luis Obispo County Housing Trust Fund
Notes to Financial Statements
December 31, 2022

Note 2: Summary of Significant Accounting Policies (Continued) Cash and Cash Equivalents
The Organization considers all cash and highly liquid financial instruments with original maturities of three months or less, which are neither held for nor restricted by donors for long-term purposes, to be cash and cash equivalents. Cash and highly liquid financial instruments restricted to building projects, endowments that are perpetual in nature, or other long-term purposes are excluded from this definition. At December 31, 2022, there were no cash equivalents.

Contributions, Grants and Accounts Receivable
It is the policy of management to review the outstanding contributions, grants and accounts receivable at year-end, as well as historical bad debt write-offs and aging analysis, and establish an allowance for doubtful accounts for estimated uncollectible amounts. At December 31, 2022, management believed that no allowance for doubtful accounts was necessary for contributions, grants or accounts receivable.

Notes and Accrued Interest Receivable
Notes and accrued interest receivable are carried at unpaid principal and accrued interest balances, net of any allowance for note losses. Management's periodic evaluation of the adequacy of the allowance is based on past loan experience. Currently, management has determined that an allowance of $19,500 for doubtful accounts would be adequate based on the Organization's credit policies, prior collection experience, grant requirements and current economic conditions; however, the Organization has established a board designated reserve of net assets of $850,000 for potential future losses as of December 31, 2022. Loans are considered impaired if full principal interest payments are not anticipated in accordance with the contractual terms. The Organization's practice would be to charge off any note or portion of a note when the loan is determined by management to be uncollectible due to the borrower's failure to meet repayment terms, the borrower's deteriorating financial condition, or other reasons.

Contribution of Nonfinancial Assets
The Organization records the value of donated goods and services when there is an objective basis available to measure their fair market value. Donated services are recognized as contributions if the services (a) create or enhance nonfinancial assets or (b) require specialized skills, are performed by people with these skills, and would otherwise be purchased by the Organization. During the year ended December 31, 2022, the Organization received contributions of nonfinancial assets for professional services of $5,000. There were no donor -imposed restrictions associated with these donations.
11 San Luis Obispo County Housing Trust Fund
Notes to Financial Statements
December 31, 2022

Note 2: Summary of Significant Accounting Policies (Continued) Net Assets
Net assets, revenues, gains, and losses are classified based on the existence or absence of donor or grantor -imposed restrictions. Accordingly, net assets and changes therein are classified and reported as follows:

Net Assets Without Donor Restrictions— Net assets available for use in general operations and not subject to donor (or certain grantor) restrictions. The governing board has designated, from net assets without donor restrictions, net assets for an operating reserve and loan loss reserve.

Net Assets With Donor Restrictions — Net assets subject to donor (or certain grantor) imposed restrictions. Some donor -imposed restrictions are temporary in nature, such as those that will be met by the passage of time or other events specified by the donor. Other donor -imposed restrictions are perpetual in nature, where the donor stipulates that resources be maintained in perpetuity. Gifts of long-lived assets and gifts of cash restricted for the acquisition of long-lived assets are recognized as revenue when the assets are placed in service.

The Organization reports contributions restricted by donors as increases in net assets without donor restrictions if the restrictions expire (that is, when a stipulated time restriction ends or purpose restriction is accomplished) in the reporting period in which the revenue is recognized. All other donor -restricted contributions are reported as increases in net assets with donor restrictions, depending on the nature of the restrictions. When a restriction expires, net assets with donor restrictions are reclassified to net assets without donor restrictions and reported in the statements of activities as net assets released from restrictions.

Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and those differences could be material.

Financial Instruments and Credit Risk
The Organization manages deposit concentration risk by placing cash, money market accounts, and certificates of deposit with financial institutions believed to be creditworthy. At times, amounts on deposit may exceed insured limits or include uninsured investments in money market mutual funds. At December 31, 2022, there was $1,876,827 in excess of the FDIC limit. To date, the Organization has not experienced losses in any of these accounts. Credit risk associated with notes receivable is considered to be limited due to high historical collection rates and because over 12 San Luis Obispo County Housing Trust Fund
Notes to Financial Statements
December 31, 2022

Note 2: Summary of Significant Accounting Policies (Continued) 100% of the notes are secured by real property. At December 31, 2022, three borrowers with 26 outstanding loans make up 88% of notes receivable.

Income Taxes
The Organization is organized as a California nonprofit corporation and has been recognized by the IRS as exempt from federal income taxes under IRC Section 501(a) as organizations described in IRC Section 501(c)(3), qualify for the charitable contribution deduction under IRC Sections 170(b)(1)(A)(vi) and (viii). The Organization is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Organization is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. Management has determined that the Organization is not subject to unrelated business income tax and have not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS.

Functional Expense Allocations
The costs of program and supporting services activities have been summarized on a functional basis in the statement of activities. The statement of functional expenses presents the natural classification detail of expenses by function.

Allocations are made based upon hours worked as well as estimated usage of supplies and other expenses.

Accordingly, certain costs have been allocated among the programs and supporting services benefited.

Advertising
The Organization expenses advertising costs as incurred. There was no advertising expense for the year ended December 31, 2022.

Change in Accounting Principle
In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes existing guidance for accounting for leases under Topic 840, Leases. The FASB also subsequently issued the following additional ASUs, which amend and clarify Topic 842: ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU 2018-10, Codification Improvements to Topic 842, Leases; ASU 2018-11, Leases (Topic 842): Targeted Improvements; ASU 2018- 20, Narrow -scope Improvements for Lessors; and ASU 2019-01, Leases (Topic 842): Codification Improvements. The most significant change in the new leasing guidance is the requirement to recognize right -to -use (ROU) assets and lease liabilities on the balance sheet.
13 San Luis Obispo County Housing Trust Fund
Notes to Financial Statements
December 31, 2022

Note 2: Summary of Significant Accounting Policies (Continued) The Company has adopted the standard with a date of initial application of January 1, 2022. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification. In addition, the Company elected the practical expedient to use hindsight in determining the lease term for existing leases, which resulted in shortening the lease terms for certain existing leases and the useful lives of corresponding leasehold improvements as certain options to renew were not reasonably certain.

The adoption had a material impact on the Company's balance sheet but did not have a material impact on the income statement. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases. The accounting for finance leases remained substantially unchanged. Adoption of the standard required the Company to restate amounts as of January 1, 2022, resulting in an increase in operating lease ROU assets of $31,753, an increase in short-term operating lease liabilities of $32,221, and an increase in operating lease expense of $468.

Leases
The Company leases office space. The determination of whether an arrangement is a lease is made at the lease's inception. Under Topic 842, a contract is (or contains) a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is defined under the standard as having both the right to obtain substantially all of the economic benefits from use of the asset and the right to direct the use of the asset. Management only reassesses its determination if the terms and conditions of the contract are changed. The Company has elected the practical expedient for short-term leases with terms of 12 months or less. For short-term leases the Company recognizes the lease payments in the income statement on a straight-line basis over the term of the lease.

For leases with a lease term greater than one year, the Company recognizes a lease asset for its right to use the underlying leased asset and a lease liability for the corresponding lease obligation.

Operating leases with a duration greater than one year are included in operating lease right -of -use (ROU) assets, current portion operating lease liabilities, and operating lease liabilities, net of current portion in the Company's balance sheet at December 31, 2022. Operating lease ROU assets and operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. In determining the present value of lease payments, the Company uses the risk -free rate of a period comparable with that of the lease term.

The Company considers the lease term to be the noncancelable period that it has the right to use the underlying asset, including all periods covered by an option to (1) extend the lease if the Company is reasonably certain to exercise the 14 San Luis Obispo County Housing Trust Fund
Notes to Financial Statements
December 31, 2022