You will need the Flash plugin to view this publication
Download the Flash plugin for free here. Just refresh this page after installing Flash.
Also make sure that javascript is enabled in your browser.
Alternatively, you can download this publication in PDF-format - Click here.
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
2013ANNUALREPORT BoardofDirectorsasofscalyearendSept.302013PresidentElizabethMooreVicePresidentRobertRendonSecretaryAnitaGahimerCrowTreasurerNalaniFujimoriKainaMembersFrankBravoJoeHerringMartinMillerRachelMorseVickieOldman-JohnDavid.ProvostGarySeversonJohnSheehan RCACprovidestechnicalassistancetrainingandfnancingsoruralcommunitiesachievetheirgoalsandvisions.RCACservesruralcommunitiesin13westernstatesandotherPacifcIslandsCELEBRATING35YEARSClickoratimelineoRCAChistory RCACSLOANFUNDCELEBRATES25YEARS62659individualwaterandwastewaterCONNECTIONS3millionsquarefeetofspaceforCOMMUNITYFACILITIES14489JOBS12315HOUSINGUNITSAsofSept.302013RCACclosed703loanswhichtotalednearly400millionandleveragedmorethan1.5billionforprojectsinruralcommunities.Theseloanssupported September30markedtheendoour35thyearandwearepleasedtoreportthatitwasextremelysuccessul.RCAChasprosperedbydevelopingnewskillsanddiversiyingitsundingtomeetthechallengesandopportunitiesintheruralwest.DuringRCACsearlyyearswewroteundingapplica-tionsandencouragedothernonprotorganizationstohelpcommunitiessecureneworimproveexistingwaterandwasteacilities.Ourstawasagroupogeneraliststrainedincommunitydevelopment.Todaywearespecialistswithtechnicalskillstocomplementourcommunitydevelopmentgoals.Weconductmorethan150trainingsessionsayeartoimprovetheskillsosmallsystemoperatorsandcommunityboards.Wealsoprovideon-sitetrainingandtechnicalassistancetotribalandothersmallsystemoperatorstohelpsystemscomplywithederalandstateregulations.Weprepareratestudiesenvironmentalreviewshouseholdincomesurveysandnancialmanagementanalyses.WhenwebeganoneoRCACsprogramswashousing.Westartedwithjustaewlocalpartnersandnowcol-laboratewithmorethan50ruralhousingorganizations.Weprovidetechnicalandnancialresourcestohelpincreasethesingle-andmulti-amilyaordablehousingsupply.Weareparticularlyproudotherolewehaveplayedtokeepthesel-helphousingnetworkintheWeststrongintheaceothemortgagecrisis.Westartedtheloanundin1988witha1.2millionloanandgrantromtheFordFoundation.Todaytheundhasbeeninoperationor25yearsandcapitalizedatmorethan70million.LoanproductshaveexpandedRCACAnnualReport2013romnancingutilitiesandhousingtocommunityacilitiesandsmallbusinesslending.AsoSept.302013RCACclosed703loanswhichtotalednearly400millionandleveragedmorethan1.5billionorprojectsinruralcommunities.Aswepreparetoadoptanewstrategicplanin2014RCACboardmembersandstahaveinterviewedstake-holdersinruralcommunitiestohelpusidentiyneedsandsetnewgoals.Wehaveheardthatinadequatewaterandwastewateracilitieslimitedlow-incomeandmiddle-incomehousingandinsufcienteconomicopportunitiesandnancingstymieruraldevelopment.Butwehavealsoheardaboutstrategiestoincreaseeconomicviabilityinruralcommunitiesandtheneedoradditionaltechnicalsupporttoimplementthesestrategies.Ournewplanwillberesponsivetoallotheseissues.Therehavebeenmanychangesinour35yearhistory.Werestructurednumeroustimesandstahavecomeandgone.Therewereeightousinthebeginningwehave104stamemberstoday.SomethingsremainconstantthoughtheopportunitytomakeadierenceverysupportiveunderswhoseinvestmentsmakeallourworkpossibleandcollaborationwithourpartnersontheroadtomaketheruralWestenduringhealthyandvibrant.Ithasbeenourpleasuretobeapartnerinruralcommunitydevelopmentor35years.Thankyoualloryoursupportandencouragement.StanleyKeaslingChieExecutiveOfcerCEOLetterDearRCACFriends RCACprovidesanunsurpassedexpertiseinwaterresourcemanagementgreatcustomerfocushighqualityworkandperformanceandgoalorientedresults.RomeroLuceroElValleAlliancepresident ELVALLEWATERALLIANCEELVALLEWATERALLIANCEregionalsupportsustainswatersystemsThirteenMutualDomesticWaterConsumerAssociationsMDWCAinElValleNewMexicohavestruggledtoprovidereliablesaedrinkingwatertotheircustomers.Manyhadederaldrinkingwaterstandardscomplianceissuesandallhadaginginrastructurethatwasbuiltasarbackasthe1950s.AllotheMDWCAswererunbyvolunteerswhohadverylittletrainingandwerenotcertieddrinkingwatersystemoperators.ThepathtosaedrinkingwaterorthesesmallMDWCAswasre-gionalization.Regionalizationensuressaeandreliablewaterservicescreateslocaljobsthroughinrastructureexpansionandattractsnewhousingandcommercialgrowth.Regionalizationalsoallowsthe13MDWCAstoshareresourcesincludingwaterresourcesequipmentstaandocespace.RCACacilitatedmeetingstohelptheMDWCAschangemorethan40yearsotraditionsandtoincorporateintooneentityElValleAllianceAlliance.ThenegotiationsthatproducedtheAlliancealsoclariedeachassoci-ationswaterrightsrevisedwaterratestorefecttrueservicecostsprioritizedinrastructureneedscreatedaplantocertiyvolunteerwateroperatorsandhiredacertiedwateroperatortooverseevolunteers.RCACprovidesanunsurpassedexpertiseinwaterre-sourcemanagementgreatcustomerocushighqualityworkandperormanceandgoalorientedresultssaidRomeroLuceroElValleAlliancepresident.RCACalsoprovidedleadershiptrainingandhelpedtheAlliancesecure2.3millioninloansandstateandederalgrants.SomeotheundswereusedtodrattheAlliances40-yearwaterplanandtosecurepreviouslydecreedwaterrights.RCACcontinuestoassisttheAlliancemoveorward.TheAlliancemustensureitcandeliverhighqualityserviceandwatertoitscustomersanddemonstrateitsnancialstewardshipsothatitcanobtainnancingorcapitalreplacementandsystemexpansion.TodaytheAllianceprovidesjobsorthreeregularemployeesonewateroperatorandtwoocesta.Thesystemisasustainableregionaloperationthatcomplieswithlocalstateandederaldrinkingwaterregulationsandmaintainsecientwaterandwastewatersystemsorthecommunitiesitserves.EnvironmentalRCACAnnualReport2013 Itiseasytoseethestrongandpositiveimpactthehospitalrenovationandexpansionhashadonthecommunity.TomMaherBCHCEO BOULDERCITYHOSPITALBOULDERCITYHOSPITALexpansionprovidesmuchneededservicesforanagingpopulationBoulderCityNevadapopulation15023hassueredduringthepastdecadeduetopooreconomicconditions.Thecommunitysunemploymentratejumpedrom5percentinJanuary2008to10percentinDecember2012.Highunemploymentorcedmanyyoungerresidentstoleavethearea.Asaresulttodaynearly30percentothecitysresidentsareage65orolderandthereisagreaterneedormedicalservicesdirectedtotheelderly.RCACandtwoCommunityDevelopmentFinancialInstitutionpartnersmadea16.3millionconstructionloantoBoulderCityHospitalBCHtoremodelitsex-istingacilityaddspacereopenitssurgicalprogramandprovidetwonewinpatientservicesgeriatricbehavioralmedicineandacuterehabilitation.Itiseasytoseethestrongandpositiveimpactthehospitalrenovationandexpansionhashadonthecommunity.OurconstituentsknowthatwesavedjobsaddedjobsandmostimportantlyincreasedaccesstohighqualityhealthcarenotonlytoBoulderCitybuttosouthernNevadasaidTomMaherBCHschieexecutiveofcer.AccordingtoanAmericanHospitalAssociationreportruralhospitalslackadequateaccesstocapitalandthatlackoaccessaectstheirabilitytomodernizeacilitiesandacquirenewtechnologies.BoulderCityHospitalsagingacilitywasclearlyhamperingitsabilitytoprovidequalitycare.TodayPhaseIremodeliscompleteandconstructiononadditionalspacePhaseIIwillbecompletedbyDecember.Oncecompletethemodernizedacilitywillbetwiceitsoriginalsizegenerate100newjobsandmeettheneedso27000elderlypatients.RCACwillalsobepartothepermanentnancingorthehospitalprovidinglocalleverageoraRuralDevelopmentcom-munityacilitiesloan.LoanFundRCACAnnualReport2013 RCACssupporthasbeeninvaluableinoursubdivisiondevelopmentprogram.ClaudiaShaySHHCHexecutivedirector SELF-HELPHOUSINGCORPORATIONOFHAWAIISELF-HELPHOUSINGCORPORATIONOFHAWAIIprovidinglow-incomehousingformorethan30yearsInHawaiitheaveragesalespriceorasingleamilyhomeismorethan600000.Withanincomeolessthan53000low-incomeamiliessingleparentsnativeHawaiianamiliesandHawaiisworkorceareshutoutoconventionalhomeownership.TomakemattersworseHawaiiscostolivingis30percenthigherthanonthemainlandU.S.whichmakesitextremelydifcultorlow-incomeamiliestosaveormortgagedownpayments.Since1984Sel-HelpHousingCorporationoHawaiiSHHCHhasprovidedtechnicalassistanceand-nancialcounselingthroughtheU.S.DepartmentoAgricultureUSDARuralDevelopmentMutualSel-HelpHousingProgramtoaddressHawaiisaordablehousingshortage.Duringthepast30yearsSHHCHhascompleted46projectsinwhichmorethan600low-incomeamiliesacrossHawaiihavebuilttheirownhomesunderthisUSDAprogram.SHHCHisoneotheoldestUSDAsel-helpgrantees.RCACprovidestechnicalsupporttoSHHCHonederalregulationscorporateaccountingbookkeepingproce-duresandUSDARuralDevelopmentproposaldevelop-mentandreporting.RCACstaalsoworkscloselywithRuralDevelopmentandSHHCHtoimprovecommuni-cationandprogramcoordination.Inadditiontosel-helptechnicalassistanceRCACsLoanFundhasprovidedSHHCHwithmorethan9.7millionoloanstoacquirelotsandcompletesitedevel-opment.RCACloanstoSHHCHinthepastseveralyearshaveprovidednancingtoacquireanddevelop164sel-helphousinglots.RCACssupporthasbeeninvaluableinoursubdivisiondevelopmentprogramsaidClaudiaShaySHHCHsexecutivedirector.HousingCommunityRCACAnnualReport2013 TheollowingisasummaryoinormationcontainedinRCACsannualfnancialstatements.Completefnancialstatementswiththeassociatedindependentauditorsreportareavailableatwww.rcac.org.CONDENSEDBALANCESHEETSASOFSEPTEMBER3020132012ASSETScashandinvestments45859964loansreceivablenet49457547549otherreceivables8599988otherassets7456765fxedassets69779totalassets7940272681020262LIABILITIESANDNETASSETSaccountspayableaccruedliabilities668855995grantspayable5579548notesandbondspayable47599586696netassets87855965totalliabilitiesandnetassets7940272681020262CONDENSEDSTATEMENTSOFACTIVITYFORTHE12MONTHSENDINGSEPTEMBER3020132012REVENUEgrantsandcontracts44889999467loaneesandinterest7666946investmentincome678other85787796totalrevenue1821616914108898EXPENSESloanund545589486housingandcommunity6678746environmentalservices47468877otherprograms4566478485rentaloperations585498managementandgeneral5488696totalexpenses1407426713169787increasedecreaseinnetassets4141902939111consistingofchangeinunrestrictednetassets654579677changeintemporarilyrestrictednetassets49458545664141902939111FINANCIALINFORMATIONorfscalyears20132012 2013280780555563828217109GeneralunrestrictedBoarddesignatedlendingcapitalTemporarilyrestrictedlendingcapitalTemporarilyrestrictedprogrammoniesNETASSETSasofSeptemberRCACAnnualReport201223936153 SUPPORTERSPRIVATEAccessibleSpaceInc.AllyFinancialBankotheWestBeyondShelterInc.CaliorniaBankTrustCaliorniaUnitedBankCalvertFoundationCare66CatholicHealthInitiativesCharlesSchwabBankCommunityActionPartnershipoNorthwestMontanaCommunityEconomicsInc.DignityHealthDominicanSistersoHopeFordFoundationHousingAssistanceCouncilHousingCaliorniaJohnD.andCatherineT.MacArthurFoundationJPMorganChaseBankN.A.LaPineWaterandSpecialSewerDistrictsMedinaConsultingLLCMercyInvestmentsServicesInc.MerrickBankCorporationMonarchCommunityFundLLCMorganStanleyBankNaKupaaoKuhioNalcoNativeHomeCapitalNavalAirStationLemooreNeighborWorksAmericaOxenordConsultingPacifcRimBankPasoDelNorteHealthFoundationPeshastinWaterDistrictReligiousCommunitiesInvestmentFundInc.RuralCommunityAssistancePartnershipInc.RuralLISCSachsFoundationSistersotheHolyCrossInc.St.JosephHealthSystemStratusConsultingTheCaliorniaEndowmentTheCongregationotheSistersoCharityotheIncarnateWordTheEpiscopalChurchTheFBHeronFoundationTheSistersoSt.FrancisoPhiladelphiaTrinityHealthCorporationUSBankWellsFargoBankWestYostAssociatesU.S.GOVERNMENTU.S.Dept.oAgricultureU.S.Dept.oHealthHumanServicesU.S.Dept.oHousingUrbanDevelopmentU.S.Dept.oLaborU.S.Dept.otheTreasuryCDFIFundU.S.Dept.otheTreasurySBLFU.S.EnvironmentalProtectionAgencySTATELOCALANDTRIBALBigSandyRancheriaBigValleyBandoPomoIndiansCaliorniaCoalitionorRuralHousingCaliorniaDept.oPublicHealthCaliorniaDept.oCommunityServicesandDevelopmentCaliorniaHousingFinanceAgencyCampoBandoMissionIndiansChelanCountyPublicUtilityDistrictColdSpringsRancheriaCountyoHumboldtCountyoSanMateoCountyoSantaBarbaraHousingAuthorityHoplandReservationKashiaBandoPomoIndiansoStewartsPointRancheriaMinnesotaHousingPartnershipNewMexicoMortgageFinanceAuthorityNezPerceTribeNorthDakotaDepartmentoHealthRoundValleyReservationSanPasqualBandoMissionIndiansSouthDakotaBoardoWaterandNaturalResourcesSouthDakotaDept.oEnvironmentandNaturalResourcesSouthDakotaDept.oPlanningandNaturalResourcesStateWaterResourceControlBoardCaliorniaTorresMartinezDesertCahuillaIndiansVirginIslandsDept.oPlanningandNaturalResourcesWashingtonDept.oHealth WriterAngelaTerryDesignerDustinLoveManagingEditorSharonWills 3120FreeboardDriveSuite201WestSacramentoCA95691Ofce916447-2854Fax916447-2878www.rcac.orgwww.rcac.orgpages758acebook.comrcac.orgtwitter.comRCACorgSubscribetoourfreepublicationsandfollowusonsocialmediaPrintedonpapercontaining30post-consumerbers
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
2013ANNUALREPORT BoardofDirectorsasofscalyearendSept.302013PresidentElizabethMooreVicePresidentRobertRendonSecretaryAnitaGahimerCrowTreasurerNalaniFujimoriKainaMembersFrankBravoJoeHerringMartinMillerRachelMorseVickieOldman-JohnDavid.ProvostGarySeversonJohnSheehan RCACprovidestechnicalassistancetrainingandfnancingsoruralcommunitiesachievetheirgoalsandvisions.RCACservesruralcommunitiesin13westernstatesandotherPacifcIslandsCELEBRATING35YEARSClickoratimelineoRCAChistory RCACSLOANFUNDCELEBRATES25YEARS62659individualwaterandwastewaterCONNECTIONS3millionsquarefeetofspaceforCOMMUNITYFACILITIES14489JOBS12315HOUSINGUNITSAsofSept.302013RCACclosed703loanswhichtotalednearly400millionandleveragedmorethan1.5billionforprojectsinruralcommunities.Theseloanssupported September30markedtheendoour35thyearandwearepleasedtoreportthatitwasextremelysuccessul.RCAChasprosperedbydevelopingnewskillsanddiversiyingitsundingtomeetthechallengesandopportunitiesintheruralwest.DuringRCACsearlyyearswewroteundingapplica-tionsandencouragedothernonprotorganizationstohelpcommunitiessecureneworimproveexistingwaterandwasteacilities.Ourstawasagroupogeneraliststrainedincommunitydevelopment.Todaywearespecialistswithtechnicalskillstocomplementourcommunitydevelopmentgoals.Weconductmorethan150trainingsessionsayeartoimprovetheskillsosmallsystemoperatorsandcommunityboards.Wealsoprovideon-sitetrainingandtechnicalassistancetotribalandothersmallsystemoperatorstohelpsystemscomplywithederalandstateregulations.Weprepareratestudiesenvironmentalreviewshouseholdincomesurveysandnancialmanagementanalyses.WhenwebeganoneoRCACsprogramswashousing.Westartedwithjustaewlocalpartnersandnowcol-laboratewithmorethan50ruralhousingorganizations.Weprovidetechnicalandnancialresourcestohelpincreasethesingle-andmulti-amilyaordablehousingsupply.Weareparticularlyproudotherolewehaveplayedtokeepthesel-helphousingnetworkintheWeststrongintheaceothemortgagecrisis.Westartedtheloanundin1988witha1.2millionloanandgrantromtheFordFoundation.Todaytheundhasbeeninoperationor25yearsandcapitalizedatmorethan70million.LoanproductshaveexpandedRCACAnnualReport2013romnancingutilitiesandhousingtocommunityacilitiesandsmallbusinesslending.AsoSept.302013RCACclosed703loanswhichtotalednearly400millionandleveragedmorethan1.5billionorprojectsinruralcommunities.Aswepreparetoadoptanewstrategicplanin2014RCACboardmembersandstahaveinterviewedstake-holdersinruralcommunitiestohelpusidentiyneedsandsetnewgoals.Wehaveheardthatinadequatewaterandwastewateracilitieslimitedlow-incomeandmiddle-incomehousingandinsufcienteconomicopportunitiesandnancingstymieruraldevelopment.Butwehavealsoheardaboutstrategiestoincreaseeconomicviabilityinruralcommunitiesandtheneedoradditionaltechnicalsupporttoimplementthesestrategies.Ournewplanwillberesponsivetoallotheseissues.Therehavebeenmanychangesinour35yearhistory.Werestructurednumeroustimesandstahavecomeandgone.Therewereeightousinthebeginningwehave104stamemberstoday.SomethingsremainconstantthoughtheopportunitytomakeadierenceverysupportiveunderswhoseinvestmentsmakeallourworkpossibleandcollaborationwithourpartnersontheroadtomaketheruralWestenduringhealthyandvibrant.Ithasbeenourpleasuretobeapartnerinruralcommunitydevelopmentor35years.Thankyoualloryoursupportandencouragement.StanleyKeaslingChieExecutiveOfcerCEOLetterDearRCACFriends RCACprovidesanunsurpassedexpertiseinwaterresourcemanagementgreatcustomerfocushighqualityworkandperformanceandgoalorientedresults.RomeroLuceroElValleAlliancepresident ELVALLEWATERALLIANCEELVALLEWATERALLIANCEregionalsupportsustainswatersystemsThirteenMutualDomesticWaterConsumerAssociationsMDWCAinElValleNewMexicohavestruggledtoprovidereliablesaedrinkingwatertotheircustomers.Manyhadederaldrinkingwaterstandardscomplianceissuesandallhadaginginrastructurethatwasbuiltasarbackasthe1950s.AllotheMDWCAswererunbyvolunteerswhohadverylittletrainingandwerenotcertieddrinkingwatersystemoperators.ThepathtosaedrinkingwaterorthesesmallMDWCAswasre-gionalization.Regionalizationensuressaeandreliablewaterservicescreateslocaljobsthroughinrastructureexpansionandattractsnewhousingandcommercialgrowth.Regionalizationalsoallowsthe13MDWCAstoshareresourcesincludingwaterresourcesequipmentstaandocespace.RCACacilitatedmeetingstohelptheMDWCAschangemorethan40yearsotraditionsandtoincorporateintooneentityElValleAllianceAlliance.ThenegotiationsthatproducedtheAlliancealsoclariedeachassoci-ationswaterrightsrevisedwaterratestorefecttrueservicecostsprioritizedinrastructureneedscreatedaplantocertiyvolunteerwateroperatorsandhiredacertiedwateroperatortooverseevolunteers.RCACprovidesanunsurpassedexpertiseinwaterre-sourcemanagementgreatcustomerocushighqualityworkandperormanceandgoalorientedresultssaidRomeroLuceroElValleAlliancepresident.RCACalsoprovidedleadershiptrainingandhelpedtheAlliancesecure2.3millioninloansandstateandederalgrants.SomeotheundswereusedtodrattheAlliances40-yearwaterplanandtosecurepreviouslydecreedwaterrights.RCACcontinuestoassisttheAlliancemoveorward.TheAlliancemustensureitcandeliverhighqualityserviceandwatertoitscustomersanddemonstrateitsnancialstewardshipsothatitcanobtainnancingorcapitalreplacementandsystemexpansion.TodaytheAllianceprovidesjobsorthreeregularemployeesonewateroperatorandtwoocesta.Thesystemisasustainableregionaloperationthatcomplieswithlocalstateandederaldrinkingwaterregulationsandmaintainsecientwaterandwastewatersystemsorthecommunitiesitserves.EnvironmentalRCACAnnualReport2013 Itiseasytoseethestrongandpositiveimpactthehospitalrenovationandexpansionhashadonthecommunity.TomMaherBCHCEO BOULDERCITYHOSPITALBOULDERCITYHOSPITALexpansionprovidesmuchneededservicesforanagingpopulationBoulderCityNevadapopulation15023hassueredduringthepastdecadeduetopooreconomicconditions.Thecommunitysunemploymentratejumpedrom5percentinJanuary2008to10percentinDecember2012.Highunemploymentorcedmanyyoungerresidentstoleavethearea.Asaresulttodaynearly30percentothecitysresidentsareage65orolderandthereisagreaterneedormedicalservicesdirectedtotheelderly.RCACandtwoCommunityDevelopmentFinancialInstitutionpartnersmadea16.3millionconstructionloantoBoulderCityHospitalBCHtoremodelitsex-istingacilityaddspacereopenitssurgicalprogramandprovidetwonewinpatientservicesgeriatricbehavioralmedicineandacuterehabilitation.Itiseasytoseethestrongandpositiveimpactthehospitalrenovationandexpansionhashadonthecommunity.OurconstituentsknowthatwesavedjobsaddedjobsandmostimportantlyincreasedaccesstohighqualityhealthcarenotonlytoBoulderCitybuttosouthernNevadasaidTomMaherBCHschieexecutiveofcer.AccordingtoanAmericanHospitalAssociationreportruralhospitalslackadequateaccesstocapitalandthatlackoaccessaectstheirabilitytomodernizeacilitiesandacquirenewtechnologies.BoulderCityHospitalsagingacilitywasclearlyhamperingitsabilitytoprovidequalitycare.TodayPhaseIremodeliscompleteandconstructiononadditionalspacePhaseIIwillbecompletedbyDecember.Oncecompletethemodernizedacilitywillbetwiceitsoriginalsizegenerate100newjobsandmeettheneedso27000elderlypatients.RCACwillalsobepartothepermanentnancingorthehospitalprovidinglocalleverageoraRuralDevelopmentcom-munityacilitiesloan.LoanFundRCACAnnualReport2013 RCACssupporthasbeeninvaluableinoursubdivisiondevelopmentprogram.ClaudiaShaySHHCHexecutivedirector SELF-HELPHOUSINGCORPORATIONOFHAWAIISELF-HELPHOUSINGCORPORATIONOFHAWAIIprovidinglow-incomehousingformorethan30yearsInHawaiitheaveragesalespriceorasingleamilyhomeismorethan600000.Withanincomeolessthan53000low-incomeamiliessingleparentsnativeHawaiianamiliesandHawaiisworkorceareshutoutoconventionalhomeownership.TomakemattersworseHawaiiscostolivingis30percenthigherthanonthemainlandU.S.whichmakesitextremelydifcultorlow-incomeamiliestosaveormortgagedownpayments.Since1984Sel-HelpHousingCorporationoHawaiiSHHCHhasprovidedtechnicalassistanceand-nancialcounselingthroughtheU.S.DepartmentoAgricultureUSDARuralDevelopmentMutualSel-HelpHousingProgramtoaddressHawaiisaordablehousingshortage.Duringthepast30yearsSHHCHhascompleted46projectsinwhichmorethan600low-incomeamiliesacrossHawaiihavebuilttheirownhomesunderthisUSDAprogram.SHHCHisoneotheoldestUSDAsel-helpgrantees.RCACprovidestechnicalsupporttoSHHCHonederalregulationscorporateaccountingbookkeepingproce-duresandUSDARuralDevelopmentproposaldevelop-mentandreporting.RCACstaalsoworkscloselywithRuralDevelopmentandSHHCHtoimprovecommuni-cationandprogramcoordination.Inadditiontosel-helptechnicalassistanceRCACsLoanFundhasprovidedSHHCHwithmorethan9.7millionoloanstoacquirelotsandcompletesitedevel-opment.RCACloanstoSHHCHinthepastseveralyearshaveprovidednancingtoacquireanddevelop164sel-helphousinglots.RCACssupporthasbeeninvaluableinoursubdivisiondevelopmentprogramsaidClaudiaShaySHHCHsexecutivedirector.HousingCommunityRCACAnnualReport2013 TheollowingisasummaryoinormationcontainedinRCACsannualfnancialstatements.Completefnancialstatementswiththeassociatedindependentauditorsreportareavailableatwww.rcac.org.CONDENSEDBALANCESHEETSASOFSEPTEMBER3020132012ASSETScashandinvestments45859964loansreceivablenet49457547549otherreceivables8599988otherassets7456765fxedassets69779totalassets7940272681020262LIABILITIESANDNETASSETSaccountspayableaccruedliabilities668855995grantspayable5579548notesandbondspayable47599586696netassets87855965totalliabilitiesandnetassets7940272681020262CONDENSEDSTATEMENTSOFACTIVITYFORTHE12MONTHSENDINGSEPTEMBER3020132012REVENUEgrantsandcontracts44889999467loaneesandinterest7666946investmentincome678other85787796totalrevenue1821616914108898EXPENSESloanund545589486housingandcommunity6678746environmentalservices47468877otherprograms4566478485rentaloperations585498managementandgeneral5488696totalexpenses1407426713169787increasedecreaseinnetassets4141902939111consistingofchangeinunrestrictednetassets654579677changeintemporarilyrestrictednetassets49458545664141902939111FINANCIALINFORMATIONorfscalyears20132012 2013280780555563828217109GeneralunrestrictedBoarddesignatedlendingcapitalTemporarilyrestrictedlendingcapitalTemporarilyrestrictedprogrammoniesNETASSETSasofSeptemberRCACAnnualReport201223936153 SUPPORTERSPRIVATEAccessibleSpaceInc.AllyFinancialBankotheWestBeyondShelterInc.CaliorniaBankTrustCaliorniaUnitedBankCalvertFoundationCare66CatholicHealthInitiativesCharlesSchwabBankCommunityActionPartnershipoNorthwestMontanaCommunityEconomicsInc.DignityHealthDominicanSistersoHopeFordFoundationHousingAssistanceCouncilHousingCaliorniaJohnD.andCatherineT.MacArthurFoundationJPMorganChaseBankN.A.LaPineWaterandSpecialSewerDistrictsMedinaConsultingLLCMercyInvestmentsServicesInc.MerrickBankCorporationMonarchCommunityFundLLCMorganStanleyBankNaKupaaoKuhioNalcoNativeHomeCapitalNavalAirStationLemooreNeighborWorksAmericaOxenordConsultingPacifcRimBankPasoDelNorteHealthFoundationPeshastinWaterDistrictReligiousCommunitiesInvestmentFundInc.RuralCommunityAssistancePartnershipInc.RuralLISCSachsFoundationSistersotheHolyCrossInc.St.JosephHealthSystemStratusConsultingTheCaliorniaEndowmentTheCongregationotheSistersoCharityotheIncarnateWordTheEpiscopalChurchTheFBHeronFoundationTheSistersoSt.FrancisoPhiladelphiaTrinityHealthCorporationUSBankWellsFargoBankWestYostAssociatesU.S.GOVERNMENTU.S.Dept.oAgricultureU.S.Dept.oHealthHumanServicesU.S.Dept.oHousingUrbanDevelopmentU.S.Dept.oLaborU.S.Dept.otheTreasuryCDFIFundU.S.Dept.otheTreasurySBLFU.S.EnvironmentalProtectionAgencySTATELOCALANDTRIBALBigSandyRancheriaBigValleyBandoPomoIndiansCaliorniaCoalitionorRuralHousingCaliorniaDept.oPublicHealthCaliorniaDept.oCommunityServicesandDevelopmentCaliorniaHousingFinanceAgencyCampoBandoMissionIndiansChelanCountyPublicUtilityDistrictColdSpringsRancheriaCountyoHumboldtCountyoSanMateoCountyoSantaBarbaraHousingAuthorityHoplandReservationKashiaBandoPomoIndiansoStewartsPointRancheriaMinnesotaHousingPartnershipNewMexicoMortgageFinanceAuthorityNezPerceTribeNorthDakotaDepartmentoHealthRoundValleyReservationSanPasqualBandoMissionIndiansSouthDakotaBoardoWaterandNaturalResourcesSouthDakotaDept.oEnvironmentandNaturalResourcesSouthDakotaDept.oPlanningandNaturalResourcesStateWaterResourceControlBoardCaliorniaTorresMartinezDesertCahuillaIndiansVirginIslandsDept.oPlanningandNaturalResourcesWashingtonDept.oHealth WriterAngelaTerryDesignerDustinLoveManagingEditorSharonWills 3120FreeboardDriveSuite201WestSacramentoCA95691Ofce916447-2854Fax916447-2878www.rcac.orgwww.rcac.orgpages758acebook.comrcac.orgtwitter.comRCACorgSubscribetoourfreepublicationsandfollowusonsocialmediaPrintedonpapercontaining30post-consumerbers