2024 Financials

Contributions
$503,669 (10.9%)

Government contracts
$288,500 (6.2%)

Developer fees - multifamily developments
$361,812 (7.8%)

Community Services Fees
$209,250 (4.5%)

Partnership management fees
$545,020 (11.8%)

Property management fees
$1,258,639 (27.2%)

Rental income - owned properties
$1,211,670 (26.2%)

Interest & investment income
$237,456 (5.1%)

Other Income
$6,975 (0.2%)

Housing development
$354,868 (8.5%)

Community Services
$228,134 (5.5%)

Asset Management
$202,571 (4.8%)

Property management
$987,365 (23.6%)

Management & general
$1,296,495 (31%)

Fundraising - Capital Campaigns
$159,557 (3.8%)

Rental Operations
$952,871 (22.8%)

Special events, Loss on Asset Disposal, Investment in partnerships losses
$0 (0%)

R.C.S. Spotlight

Resident & Community Spotlights

Santa Paulan Pumpkin Painting Event
Residents at Santa Paulan Apartments enjoyed a lively pumpkin painting event in autumn 2024. Evelyn, the assistant property manager, coordinated the activity with support from local donors, providing 50 pumpkins for residents. The event brought color, creativity, and smiles, exemplifying the strong sense of community at Santa Paulan.
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Día de los Muertos at Meta Street Apartments
Meta Street Apartments hosted a moving Día de los Muertos celebration. Property manager Antonio and maintenance staff crafted a beautiful altar and secured donations of marigold flowers and sugar candy skulls. Youth residents painted sugar skulls and shared heartfelt messages honoring loved ones, making the event a creative and meaningful celebration of culture and remembrance.

Holiday Potluck and Gift Baskets
Over 50 residents gathered for a holiday potluck focused on community and connection. Organizations like Interface and the Ventura County Agency on Aging provided resources, while Spark of Love donated over 130 toys for children. At the staff holiday party, festive gift baskets were raffled to elderly residents, bringing joy and a sense of belonging to all participants.

At Cabrillo Economic Development Corporation (CEDC), we closed out 2024 with incredible community events celebrating culture, creativity, and connection. From pumpkin painting at Santa Paulan to a vibrant Día de los Muertos celebration at Meta Street Apartments, our residents and partners came together to create joyful memories. Highlights included the launch of a Little Library at Snapdragon, a festive tamale and salsa contest at Villa Cesar Chavez, and a heartwarming tree lighting and holiday potluck at Paseo Santa Clara and Del Rio. These events showcased the power of collaboration and the strength of our community bonds. A special thank-you to our RCS Coordinator, Cindy Peña, and all the property managers, residents, and local businesses who made these moments possible.

We’re so grateful for the generosity of our donors and the enthusiasm of our residents in making these celebrations a success. From handing out toy donations at the holiday potluck to raffling off gift baskets at Santa Paulan, this season has been filled with joy and gratitude. To learn more about these events and the people who made them unforgettable, click here to read the full article.

Holiday Potluck at Paseo Santa Clara/Del Rio with CSUCI Student Volunteer conducting lab experiments with the kids

Dia de Los Muertos celebration at Meta Apartments

Tree Lighting & Decorating at Paseo Santa Clara/Del Rio

Winners of the Tamale/Salsa Contest at Villa Cesar

Promoting Reading & Literacy in Our Neighborhoods The Little Free Libraries Project

In addition to homework clubs and afterschool tutoring, Cabrillo EDC is committed to ensuring that everyone has access to books. Thanks to grants from the Ventura County Credit Union and the Harriet Samuelsson Foundation, we have initiated our own book sharing project to install book kiosks at 10 properties in our portfolio. The Little Free Library program is a national program to insure access to books in every community in the U.S. Studies have shown that the more books in or near the home, the more likely a child will learn and love to read. The Little Free Library kiosks have been purchased and the first two installed. Our first Little Free Library was installed at the Paseos (Paseo del Rio and Paseo Santa Clara) in Oxnard. Edwin, the Property Manager at Paseo del Rio tells us that in addition residents using the library, adults and children from the surrounding neighborhood use it as well.

The second Little Free Library was recently installed and a ceremony was hosted in November by the Snapdragon Place I Property Manager, Sandra, and several young residents. We’ll keep you posted as more Little Libraries are installed over the next few months!

Little Library at Snapdragon Apartments in Ventura

Little Library at the Paseos in Oxnard

Summer Literacy Kits

Summer is a great time for children to read and be creative while having fun. We thank United Way of Ventura County and the amazing team of volunteers from Bank of America for providing literacy kits for our younger residents. The volunteers gathered at Bank of America offices in Simi Valley and Westlake Village.. The literacy kits are designed to encourage reading at an early age by making the experience fun and interactive. Each kit includes a coloring story book, crayons, activity sheets, along with a handwritten note of encouragement from the volunteers that assembled them.

CEDC Celebrates NeighborWorks Week

Cabrillo EDC celebrated NeighborWorks Week by hosting a resource fair at the Wagon Wheel Apartments in Oxnard on June1st. NeighborWorks America is a national organization created by the U.S. Congress to support local community development organizations throughout the U.S.by providing training, funding and other resources each year, the first week of June is celebrated as NeighborWorks Week and provides an opportunity to highlight what network members like Cabrillo EDC accomplish in their communities. This year’s theme, “Empowering Communities for Success” raised awareness about our mission, or work with NeighborWorks America, and with partner organizations serving Ventura County. Thank you to all our community partners and Cabrillo EDC staff who participated in our Resource Fair.

The Value of NeighborWorks America to Cabrillo EDC

NeighborWorks America is a vital partner in advancing Cabrillo EDC’s mission. Their support includes:

Operating Support: Providing essential funding to sustain and grow our programs.
Capacity Building & Training: Through their Training Institute, staff access top-notch classes that enhance skills across all departments.
Development Capital & Loans: Supplying flexible financing to help launch and preserve affordable housing projects.
Leadership Convenings: Facilitating peer learning events for executives, developers, fundraisers, and resident services teams.

In 2024, CEO Victoria Brady was honored through NeighborWorks’ Achieving Excellence Program with Harvard University, highlighting the leadership growth this partnership fosters.

“NeighborWorks America’s support empowers Cabrillo EDC to develop affordable housing, revitalize neighborhoods, and create jobs.”
— Margarita H. de Escontrias, CEO

We are proud to be part of the NeighborWorks network, which strengthens our impact and community reach.

Cabrillo EDC Receives $50,000 Grant from the Wells Fargo Foundation

Cabrillo EDC is a grateful recipient of a $50,000 grant from the Wells Fargo Foundation. These funds will be supporting our affordable housing developments and supportive services. Thank you to Kären Woodruff, Wells Fargo SVP Community Relations for taking the time to tour our Azahar Place Apartments in Ventura and learning more about Cabrillo EDC's plans and activities for the future. We are also grateful to Property Manager Cristina Jasso for being a great host and tour guide for the visit.

Pictured L to R: Bianca Farmer, Denise Bickerstaff, Victoria Brady, Cristina Jasso, Kären Woodruff.

Pictured L to R: Bianca Farmer, Denise Bickerstaff, Margarita H. de Escontrias, Kären Woodruff, Victoria Brady, Ama Cruz.

Pictured L to R: Denise Bickerstaff, Victoria Brady, Kären Woodruff, Margarita H. de Escontrias, Bianca Farmer.