HOFK Annual Report

The Housing and Opportunity Foundation of Kern (HOFK) has completed another successful year and maintained a stable financial position. 

In summary:

The goal is generally to maintain financial assets to meet five months of operating expenses (approximately $109,000) to be held in reserves.  Current financial assets available to meet general expenditures are $289,138, which represents approximately thirteen months of operations.  We will see this amount reduced this FY due to the community room rehab project currently underway.  

The Foundation continued to grow services, activities, and community engagement during the last fiscal year.  Some of the programs and services the Foundation was able to support included:

• College scholarships were presented to 25 recipients ranging from $250 to $2,000
• 104 families, vendors, and community members attended the annual Building Hope Conference where they learned about college access, credit building, and first-time homeownership.
• 1,817 families participated in financial literacy worships to include Budgeting Classes, Credit Repair, First-Time Homebuyer, Resume Writing, and Interview Skill Budling.
• 4,881 seniors participated in social activities such as food distribution, coffee socials, bingo, and art classes.
• 161 Children participated in youth programs including homework club, STEAM Competitions, Back-to-School Clothing and Backpack Drive.
• 15 Children received tablets to connect them to educational opportunities
• Jessica’s Christmas helped with food and gifts to 250 families.
• Provided one Helping Hands grant to families preventing their utilities from being disconnected.
• Completed 6 community room rehab projects at various affordable housing developments managed by the Housing Authority.