Civic Intelligence

First Congregational Memorial Tower

990 • Fiscal year 2015 • EIN 23-7384453

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 10, 2015

PO Box 7070Pasadena, CA 91109

(323) 258-3512

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

86th percentile

0.73x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

1.12x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

69th percentile

11%

Higher net margin than 69% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Assets

$1,922,255

No earlier filing loaded for comparison.

Net Assets

$520,809

No earlier filing loaded for comparison.

Liabilities

$1,401,446

No earlier filing loaded for comparison.

Revenue

$1,251,881

No earlier filing loaded for comparison.

Expenses

$1,118,531

No earlier filing loaded for comparison.

Net Income

$133,350

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2015: $1,922,255Liabilities 2015: $1,401,446Net Assets 2015: $520,8092015Assets 2016: $1,870,863Liabilities 2016: $1,183,398Net Assets 2016: $687,4652016Assets 2017: $1,695,130Liabilities 2017: $919,681Net Assets 2017: $775,4492017Assets 2018: $7,679,655Liabilities 2018: $7,287,275Net Assets 2018: $392,3802018Assets 2019: $6,862,403Liabilities 2019: $6,559,814Net Assets 2019: $302,5892019Assets 2020: $6,744,470Liabilities 2020: $6,431,367Net Assets 2020: $313,1032020Assets 2021: $6,684,595Liabilities 2021: $6,332,209Net Assets 2021: $352,3862021Assets 2022: $6,531,054Liabilities 2022: $6,219,239Net Assets 2022: $311,8152022Assets 2025: $9,862,841Liabilities 2025: $5,820,553Net Assets 2025: $4,042,2882025

Highlighted filing

2015

Assets$1,922,255
Liabilities$1,401,446
Net Assets$520,809

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,251,881Expenses 2015: $1,118,531Net Income 2015: $133,3502015Revenue 2016: $1,270,884Expenses 2016: $1,066,180Net Income 2016: $204,7042016Revenue 2017: $1,286,172Expenses 2017: $1,105,026Net Income 2017: $181,1462017Revenue 2018: $1,323,715Expenses 2018: $1,706,784Net Income 2018: -$383,0692018Revenue 2019: $1,377,621Expenses 2019: $1,467,412Net Income 2019: -$89,7912019Revenue 2020: $1,431,741Expenses 2020: $1,421,227Net Income 2020: $10,5142020Revenue 2021: $1,444,960Expenses 2021: $1,405,677Net Income 2021: $39,2832021Revenue 2022: $1,449,134Expenses 2022: $1,489,705Net Income 2022: -$40,5712022Revenue 2025: $3,399,170Expenses 2025: $1,964,801Net Income 2025: $1,434,3692025

Highlighted filing

2015

Revenue$1,251,881
Expenses$1,118,531
Net Income$133,350
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 10, 2015
Return Version
2014v6.0
Gross Receipts
$1,251,881
Mission and Program Overview

Mission

To operate a 100 unit senior citizen housing complex which serves the low-income, elderly and handicapped.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,463,324$1,367,952▼ $95,372
Cash and Non-Interest-Bearing Accounts$266,871$75,991▼ $190,880
Prepaid Expenses and Deferred Charges$41,748$42,028▲ $280
Accounts Receivable-$665-
Savings and Temporary Cash Investments-$0-
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-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,235,372$1,922,255▼ $313,117
Other Assets Total$463,429$435,619▼ $27,810
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,556,864$1,336,842▼ $220,022
Accounts Payable and Accrued Expenses$29,551$38,281▲ $8,730
Other Liabilities$24,178$26,323▲ $2,145
Total Liabilities$1,610,593$1,401,446▼ $209,147
Net Assets / Fund Balance
Unrestricted Net Assets$624,779$520,809▼ $103,970
Total Net Assets Fund Balance$624,779$520,809▼ $103,970
Total Liabilities and Net Assets / Fund Balance$2,235,372$1,922,255▼ $313,117

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,102,116$3,727,032$4,829,148
Other Land Buildings$1,836$526,965$528,801
Land$264,000-$264,000
Other Assets Org$26,323--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mike BurrowsPresident
Ed HomVice President
Glenn DunhamDirector
Joan RawlingsDirector
Marla McbrideDirector
Jane HaubertCFO
Jane AhernSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,250,871
Investment Income
$1,010
Other Revenue
$0
Change in Net Assets
$133,350

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,251,881
Total Revenue per Audited Statements
$1,251,881
Total Revenue per Form 990
$1,251,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$875,722
Salaries, Compensation, and Employee Benefits$242,809
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$102,069$91,784-$193,853
Depreciation Depletion$143,972--$143,972
Interest$122,069--$122,069
Fees for Services Management-$71,700-$71,700
All Other Expenses$47,815$23,802-$71,617
Insurance$58,962$6,314-$65,276
Other Employee Benefits$17,063$15,346-$32,409
Other Expenses$26,837--$26,837
Payroll Taxes$8,712$7,835-$16,547
Office Expenses-$9,888-$9,888
Fees for Services Accounting-$9,070-$9,070
Conferences and Meetings-$3,125-$3,125
Total Functional Expenses$879,667$238,864$0$1,118,531

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,118,531
Total Expenses per Audited Statements$1,118,531
Total Expenses per Form 990$1,118,531
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
TENANTS' SECURITY DEPOSITS$26,323
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Responsible for the daily operations of the housing project.

Form 990, Part VI, Line 11B: Form 990 Review Process

The form 990 is initially reviewed by falkenberg/gilliam and associates finance department and then forwarded to the board members for review and signature.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
First Congregational Memorial Tower
EIN
23-7384453
Phone
3232583512
Address
PO BOX 7070, PASADENA, CA 91109

Signing Officer

Name
Mike Burrows
Title
President
Signed
2015-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Burrows
Formed
1974
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
7

Preparer

Firm
Leaf & Cole LLP
Address
2810 Camino Del Rio South Suite 200, San Diego, CA 92108-3820
Preparer
Steven W Northcote
Phone
6192947200
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Surplus cash distribution to calhfa = -$237320

Financial Statement Notes

Part X : FIN48 Footnote

The organization 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 organization 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 organization is not a private foundation.the organization's return of organization exempt from income tax return for the years ended june 30, 2015, 2014, 2013 and 2012 are subject to examination by the internal revenue service and state taxing authorities, generally three to four years after the returns were filed.

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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt041748
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt042028
IRS990/PrincipalOfficerNm0MIKE BURROWS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/Desc0LAUNDRY INCOME
IRS990/ProgramServiceRevenueGrp/Desc1TENANT ASSISTANCE PAYMENT
IRS990/ProgramServiceRevenueGrp/Desc2TENANT RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03462
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1848862
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2398547
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03462
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1848862
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2398547
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0856398
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01205
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0816324
IRS990/PYProgramServiceRevenueAmt0382732
IRS990/PYRevenuesLessExpensesAmt0196169
IRS990/PYSalariesCompEmpBnftPaidAmt0227842
IRS990/PYTotalExpensesAmt01044166
IRS990/PYTotalRevenueAmt01240335
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0133350
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01250871
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01010
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01205
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01983
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt03732
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05534
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt013464
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt06160441
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportPY170Pct00.99470
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY170Ind0X
IRS990ScheduleA/TotalSupportAmt013464
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01102116
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03727032
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04829148
IRS990ScheduleD/ExpensesSubtotalAmt01118531
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0264000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0264000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt035034
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1312137
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt262125
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt326323
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INSURANCE IMPOUNDS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVE FUND FOR OPERATIONS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANTS' SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01836
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0526965
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0528801
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt026323
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS' SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01251881
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION 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 ORGANIZATION 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 ORGANIZATION IS NOT A PRIVATE FOUNDATION.THE ORGANIZATION'S RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX RETURN FOR THE YEARS ENDED JUNE 30, 2015, 2014, 2013 AND 2012 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES, GENERALLY THREE TO FOUR YEARS AFTER THE RETURNS WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01367952
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0435619
IRS990ScheduleD/TotalExpensesPerForm990Amt01118531
IRS990ScheduleD/TotalLiabilityAmt026323
IRS990ScheduleD/TotalRevenuePerForm990Amt01251881
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01251881
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01118531
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RESPONSIBLE FOR THE DAILY OPERATIONS OF THE HOUSING PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS INITIALLY REVIEWED BY FALKENBERG/GILLIAM AND ASSOCIATES FINANCE DEPARTMENT AND THEN FORWARDED TO THE BOARD MEMBERS FOR REVIEW AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SURPLUS CASH DISTRIBUTION TO CALHFA = -$237320
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02235372
IRS990/TotalAssetsEOYAmt01922255
IRS990/TotalAssetsGrp/BOYAmt02235372
IRS990/TotalAssetsGrp/EOYAmt01922255
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0238864
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0879667
IRS990/TotalFunctionalExpensesGrp/TotalAmt01118531
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01610593
IRS990/TotalLiabilitiesEOYAmt01401446
IRS990/TotalLiabilitiesGrp/BOYAmt01610593
IRS990/TotalLiabilitiesGrp/EOYAmt01401446
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0624779
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0520809
IRS990/TotalProgramServiceExpensesAmt0879667
IRS990/TotalProgramServiceRevenueAmt01250871
IRS990/TotalRevenueGrp/ExclusionAmt01010
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01250871

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