Civic Intelligence

2Nd Story Associates

EIN 26-0417729 • 501(c)3 • Santa Barbara, CA

Profile

Assist low-income individuals and families based upon special needs and requests; and other related services.

808 Laguna StreetSanta Barbara, CA 93101

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

69th percentile

0.40x

Higher debt load relative to assets than 69% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

8.18x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

8th percentile

-34%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

64th percentile

$0

Higher top officer pay than 64% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

63rd percentile

9.4%

Faster asset growth than 63% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Revenue Growth

2nd percentile

-74%

Faster revenue growth than 2% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$15,608,204

Down $244,206 (-1.5%) from 2023

Liabilities

Up

$6,207,128

Up $11,626 (+0.2%) from 2023

Net Assets

Down

$9,401,076

Down $255,832 (-2.6%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin8th percentile

Revenue

Up

$758,615

Up $292,779 (+63%) from 2023

Expenses

Up

$1,014,447

Up $261,878 (+35%) from 2023

Net Income

Up

-$255,832

Up $30,901 (+11%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth63rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2020: $227,248Net Assets 2020: $227,2482020Assets 2021: $186,402Liabilities 2021: $450Net Assets 2021: $185,9522021Assets 2022: $13,032,016Liabilities 2022: $2,228,375Net Assets 2022: $10,803,6412022Assets 2023: $15,852,410Liabilities 2023: $6,195,502Net Assets 2023: $9,656,9082023Assets 2024: $15,608,204Liabilities 2024: $6,207,128Net Assets 2024: $9,401,0762024

Highlighted filing

2024

Assets$15,608,204
Liabilities$6,207,128
Net Assets$9,401,076
Open 2024 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2020: $177,171Expenses 2020: $72,730Net Income 2020: $104,4412020Revenue 2021: $104,728Expenses 2021: $146,024Net Income 2021: -$41,2962021Revenue 2022: $10,888,765Expenses 2022: $271,076Net Income 2022: $10,617,6892022Revenue 2023: $465,836Expenses 2023: $752,569Net Income 2023: -$286,7332023Revenue 2024: $758,615Expenses 2024: $1,014,447Net Income 2024: -$255,8322024

Highlighted filing

2024

Revenue$758,615
Expenses$1,014,447
Net Income-$255,832
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$15,608,204
Liabilities
$6,207,128
Net assets
$9,401,076
Revenue
$758,615
Expenses
$1,014,447
Net income
-$255,832
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.6$6.21$9.40$0.76$1.01$0.26
2023Detailed filing. Detailed filing data is available for this year.$15.9$6.20$9.66$0.47$0.75$0.29
2022Detailed filing. Detailed filing data is available for this year.$13.0$2.23$10.8$10.9$0.27$10.6
2021Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.10$0.15$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.23$0.23$0.18$0.07$0.10
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 22, 2025
Return Version
2024v5.2
Gross Receipts
$758,615
Mission and Program Overview

Mission

Assist low-income individuals and families based upon special needs and requests; and other related services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,752,571$14,997,128▲ $244,557
Cash and Non-Interest-Bearing Accounts$575,530$398,969▼ $176,561
Prepaid Expenses and Deferred Charges$22,554$19,437▼ $3,117
Accounts Receivable$2,727$6,149▲ $3,422
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$15,852,410$15,608,204▼ $244,206
Other Assets Total$499,028$186,521▼ $312,507
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,007,066$6,032,095▲ $25,029
Accounts Payable and Accrued Expenses$179,348$136,014▼ $43,334
Other Liabilities$1,000$22,205▲ $21,205
Deferred Revenue$8,088$16,814▲ $8,726
Total Liabilities$6,195,502$6,207,128▲ $11,626
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,656,908$9,401,076▼ $255,832
Total Net Assets Fund Balance$9,656,908$9,401,076▼ $255,832
Total Liabilities and Net Assets / Fund Balance$15,852,410$15,608,204▼ $244,206

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,425,496$245,237$10,670,733
Land$4,485,031-$4,485,031
Equipment$86,601$23,726$110,327
Compensation and Service Providers
Top Officer Pay64th percentile

Board Members and Trustees

NameTitle
Veronica LozaPresident
Skip SzymanskiVice President
Annmarie CameronBoard Member
Barbara AndersenBoard Member
Gary Linker PHDBoard Member
Laurel SykesBoard Member
Tiffany CarterBoard Member
Rob FredericksSecretary
Kathleen BaushkeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$92,853
Program Service Revenue
$577,406
Investment Income
$9
Other Revenue
$88,347
All Other Contributions
$92,853
Change in Net Assets
$-255,832

Audited Revenue Reconciliation

Revenue per Audited Statements
$758,615
Total Revenue per Audited Statements
$758,615
Total Revenue per Form 990
$758,615
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$911,392
Grants and Similar Amounts Paid$68,486
Salaries, Compensation, and Employee Benefits$34,569
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$265,184--$265,184
Interest$194,632--$194,632
Occupancy$105,960--$105,960
Grants to Domestic Orgs$68,486--$68,486
Fees for Services Management-$37,966-$37,966
Other Salaries and Wages$34,569--$34,569
Other Expenses$30,407$41,896-$30,407
Fees for Services Accounting-$29,750-$29,750
Insurance$20,931$2,741-$23,672
Office Expenses-$18,936-$18,936
All Other Expenses$15,829--$15,829
Fees for Services Legal-$10,380-$10,380
Total Functional Expenses$872,778$141,669$0$1,014,447

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,014,447
Total Expenses per Audited Statements$1,014,447
Total Expenses per Form 990$1,014,447
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Housing Authority of the CitySanta Barbara, CA-Assist Low-Income Seniors$65,926
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
Tenant Security Deposits$22,205
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is not viewed by the entire governing body prior to completion, but members are notified and it is filed at a public agency and available for review upon request.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
2nd Story Associates
EIN
26-0417729
Phone
8059651071
Address
808 Laguna Street, Santa Barbara, CA 93101

Signing Officer

Name
Rob Fredericks
Title
Secretary
Signed
2025-09-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rob Fredericks
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Barton Gonzalez & Myers Pa
Address
13137 66TH ST, LARGO, FL 33773
Preparer
Sergio Gonzalez
Phone
7273441040
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Income TaxesThe Organization is a not-for-profit entity which files a Form 990 (Return of Organization Exempt from Income Tax). As such, no provision for income tax expense has been made in the accompanying financial statements since 2nd Story Associates is exempt from income taxes under Internal Revenue Code (IRC) Section 501(a) as an IRC Section 501(c)(3) organization. In addition, 2nd Story Associates is not a private foundation within the meaning of Section 509(a) of the Internal Revenue Code. The Internal Revenue Code provides for taxation of unrelated business income under certain circumstances. 2nd Story Associates reports no unrelated business taxable income; however, such status is subject to final determination upon examination of the related tax returns by the appropriate taxing authorities.The Organization adopted the provisions of the FASB ASC 740, Income Taxes (formerly Interpretation 48 [FIN 48], Accounting for Uncertain Tax Positions). ASC 740 clarifies the accounting for income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Organization determined that during the year ended December 31, 2024, ASC 740 did not have a material impact on its financial position, activities or cash flows. 2nd Story Associates Forms 990, Return of Organization Exempt from Income Tax, are subject to examination by the IRS, generally for three years after they were filed.”

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IRS990/OtherAssetsTotalGrp/EOYAmt0186521
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Contract Services
IRS990/OtherExpensesGrp/Desc1Property Taxes
IRS990/OtherExpensesGrp/Desc2Misc Admin
IRS990/OtherExpensesGrp/Desc3Garbage and trash removal
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt041896
IRS990/OtherExpensesGrp/ProgramServicesAmt083282
IRS990/OtherExpensesGrp/ProgramServicesAmt153498
IRS990/OtherExpensesGrp/ProgramServicesAmt230407
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IRS990/OtherExpensesGrp/TotalAmt153498
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IRS990/PrincipalOfficerNm0Rob Fredericks
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0577406
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IRS990/ProgSrvcAccomActy2Grp/Desc0Provided resources to low-income individuals and families to find housing assistance; and contribute to the development of low-income housing projects.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt047326
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt057378
IRS990/ProgSrvcAccomActy3Grp/Desc0Paid for goods and services for the benefit of approximately 500 low-income individuals and families. The largest of these grants, 450 back packs and other school supplies provided to low-income children (grades K-12).
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt021160
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt092853
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/RevenueSubtotalAmt0758615
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Income TaxesThe Organization is a not-for-profit entity which files a Form 990 (Return of Organization Exempt from Income Tax). As such, no provision for income tax expense has been made in the accompanying financial statements since 2nd Story Associates is exempt from income taxes under Internal Revenue Code (IRC) Section 501(a) as an IRC Section 501(c)(3) organization. In addition, 2nd Story Associates is not a private foundation within the meaning of Section 509(a) of the Internal Revenue Code. The Internal Revenue Code provides for taxation of unrelated business income under certain circumstances. 2nd Story Associates reports no unrelated business taxable income; however, such status is subject to final determination upon examination of the related tax returns by the appropriate taxing authorities.The Organization adopted the provisions of the FASB ASC 740, Income Taxes (formerly Interpretation 48 [FIN 48], Accounting for Uncertain Tax Positions). ASC 740 clarifies the accounting for income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Organization determined that during the year ended December 31, 2024, ASC 740 did not have a material impact on its financial position, activities or cash flows. 2nd Story Associates Forms 990, Return of Organization Exempt from Income Tax, are subject to examination by the IRS, generally for three years after they were filed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleI/RecipientTable/CashGrantAmt065926
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Assist Low-Income Seniors
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Housing Authority of the City
IRS990ScheduleI/RecipientTable/RecipientEIN0952676783
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0808 Laguna Street
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Santa Barbara
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
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