Liabilities / Assets
98th percentile
Higher debt load relative to assets than 98% of similar nonprofits.
EIN 23-7198409 • 501(c)3 • San Diego, CA
Profile
Provide housing to low income seniors
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
98th percentile
Higher debt load relative to assets than 98% of similar nonprofits.
Liabilities / Revenue
95th percentile
Higher debt load relative to revenue than 95% of similar nonprofits.
Net Margin
1st percentile
Higher net margin than 1% of similar nonprofits.
Top Officer Pay
15th percentile
Higher top officer pay than 15% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
3rd percentile
Faster asset growth than 3% of similar nonprofits.
Revenue Growth
21st percentile
Faster revenue growth than 21% of similar nonprofits.
Assets
Down$24,783,148
Down $13,857,692 (-36%) from 2024
Liabilities
Down$33,478,254
Down $245,594 (-0.7%) from 2024
Net Assets
Down-$8,695,106
Down $13,612,098 (-277%) from 2024
Revenue
Down$4,842,656
Down $429,705 (-8.2%) from 2024
Expenses
Up$18,473,309
Up $14,974,217 (+428%) from 2024
Net Income
Down-$13,630,653
Down $15,403,922 (-869%) from 2024
Most recent year
2025 • Form 990Detailed filing. Detailed filing data is available for this year.
Provide housing to low income seniors
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $18,001,945 | $18,882,815 | ▲ $880,870 |
| Land, Buildings, and Equipment, Net | $3,658,755 | $3,536,343 | ▼ $122,412 |
| Intangible Assets | $534,825 | $518,939 | ▼ $15,886 |
| Savings and Temporary Cash Investments | $453,353 | $440,023 | ▼ $13,330 |
| Prepaid Expenses and Deferred Charges | $105,885 | $110,130 | ▲ $4,245 |
| Cash and Non-Interest-Bearing Accounts | $14,789,950 | $103,443 | ▼ $14,686,507 |
| Accounts Receivable | $75 | $12,485 | ▲ $12,410 |
| Other Notes and Loans Receivable, Net | - | $0 | - |
| Pledges and Grants Receivable | - | $0 | - |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Other Securities | - | $0 | - |
| Investments Program Related | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Total Assets | $38,640,840 | $24,783,148 | ▼ $13,857,692 |
| Other Assets Total | $1,096,052 | $1,178,970 | ▲ $82,918 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $33,612,661 | $33,367,843 | ▼ $244,818 |
| Accounts Payable and Accrued Expenses | $74,332 | $71,226 | ▼ $3,106 |
| Other Liabilities | $35,697 | $38,805 | ▲ $3,108 |
| Deferred Revenue | $1,158 | $380 | ▼ $778 |
| Total Liabilities | $33,723,848 | $33,478,254 | ▼ $245,594 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $4,916,992 | $-8,695,106 | ▼ $13,612,098 |
| Total Net Assets Fund Balance | $4,916,992 | $-8,695,106 | ▼ $13,612,098 |
| Total Liabilities and Net Assets / Fund Balance | $38,640,840 | $24,783,148 | ▼ $13,857,692 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $2,908,067 | $8,172,350 | $11,080,417 |
| Other Land Buildings | $190,040 | $692,134 | $882,174 |
| Land | $435,278 | - | $435,278 |
| Equipment | $2,958 | $38,952 | $41,910 |
| Name | Title |
|---|---|
| David Owens | Past President |
| Pete Singer | President |
| Kellen Pollan | Vice President |
| Charlie Silveria | Director |
| Daniel Kelley | Director |
| Dennis Smith | Director |
| Kathleen Baldwin | Director |
| Mike Armstrong | Director |
| Pete Gallagher | Director |
| Phyllis Barber | Director |
| Sharon Mendenhall | Director |
| Todd Kaprielian | Director |
| Tracy Phillips | Director |
| Darcy Lovgren Pavich | Past VP |
| Randall Stage | Secretary |
| Randall Wood | Treasurer |
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Royal Property Management | Management | 17150 VIA DEL CAMPO, San Diego, CA 92127 | $131,009 |
| Line Item | Amount |
|---|---|
| Other Expenses | $18,104,417 |
| Salaries, Compensation, and Employee Benefits | $368,892 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Interest | $1,597,730 | - | - | $1,597,730 |
| Other Salaries and Wages | $137,931 | $172,305 | - | $310,236 |
| Insurance | $221,286 | - | - | $221,286 |
| Depreciation Depletion | $151,964 | - | - | $151,964 |
| Fees for Services Management | - | $131,009 | - | $131,009 |
| Office Expenses | $2,768 | $112,791 | - | $115,559 |
| Other Expenses | $285,047 | $86,122 | - | $86,122 |
| All Other Expenses | $22,387 | $58,120 | - | $80,507 |
| Other Employee Benefits | $14,968 | $18,698 | - | $33,666 |
| Payroll Taxes | $11,111 | $13,879 | - | $24,990 |
| Fees for Services Other | - | $16,100 | - | $16,100 |
| Advertising | - | $889 | - | $889 |
| Total Functional Expenses | $17,863,396 | $609,913 | $0 | $18,473,309 |
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $18,473,309 |
| Expenses per Audited Statements | $18,471,487 |
| Total Expenses per Audited Statements | $18,471,487 |
| Expenses Not Reported on Financial Statements | $1,822 |
| Other Expense Adjustments | $1,822 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
| Liability | Amount |
|---|---|
| Security Deposits | $38,805 |
“Daily operations of the property have been delegated to Royal Property Management Group.”
“A copy of the 990 was emailed to each board member and the board approved the filing at its regular board meeting.”
“The governing documents, policies and financial statements will be available upon request in a pdf format.”
“Employees, salaries and wages - the organization reimburses the management company for wages and payroll taxes. Employees are paid by the management company, no w-2s are issued directly by the organization.”
“The organization is not audited as a whole. The housing project, f.h.a. Project no. 0129-11084, is the audited portion of the organization.”
“The Corporation is a nonprofit organization and is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code. The Corporation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The Corporation is not a private foundation.The Corporations Return of Organization Exempt from Income Tax for the years ended June 30, 2025, 2024, 2023 and 2022 are subject to examination by the Internal Revenue Service and State taxing authorities, generally three to four years after the returns were filed.”
“Income from non-project cash $8514”
“Expenses from non-project cash $1822”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | PAST PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | Vice President |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | President |
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| IRS990/FormationYr | 0 | 1980 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
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| IRS990/FSAuditedInd | 0 | true |
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| IRS990/IncludeFIN48FootnoteInd | 0 | true |
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| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | Provide housing to low income seniors |
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| IRS990/MoreThan5000KToOrgInd | 0 | false |
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| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 2768 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 115559 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
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| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 1178970 |
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| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 14968 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 33666 |
| IRS990/OtherExpensesGrp/Desc | 0 | ENTITY EXPENSES |
| IRS990/OtherExpensesGrp/Desc | 1 | OPERATING AND MAINTENANCE |
| IRS990/OtherExpensesGrp/Desc | 2 | UTILITIES |
| IRS990/OtherExpensesGrp/Desc | 3 | OFFICE EXPENSES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 86122 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 14906182 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 512022 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 285047 |
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| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 532000 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | LAUNDRY AND VENDING |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | MISCELLANEOUS REVENUE |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | RENT REVENUE |
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| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 752 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 3782334 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
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| IRS990/PYProgramServiceRevenueAmt | 0 | 3712886 |
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| IRS990/PYTotalRevenueAmt | 0 | 5272361 |
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| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 3790043 |
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| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 453353 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 440023 |
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| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 1559475 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 499579 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 5165 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 2074 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 3118906 |
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| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 3712886 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 2699770 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 2220188 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 2121225 |
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