Civic Intelligence

San Elijo Lagoon Conservancy

990 • Fiscal year 2013 • EIN 33-0358660

Jan 01, 2013 to Dec 31, 2013 • Filed on Sep 29, 2014

777 So Highway 101 Suite 11292075

(760) 436-3944

Siviq Scores

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

Liabilities / Assets

61st percentile

0.38x

Higher debt load relative to assets than 61% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

81st percentile

1.28x

Higher debt load relative to revenue than 81% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Net Margin

86th percentile

37%

Higher net margin than 86% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

40th percentile

$136,933

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Asset Growth

53rd percentile

4.5%

Faster asset growth than 53% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

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

Source year 2013

Assets

Up

$10,110,019

Up $436,201 (+4.5%) from 2012

Net Assets

Up

$6,309,699

Up $1,285,950 (+26%) from 2012

Liabilities

Down

$3,800,320

Down $849,749 (-18%) from 2012

Revenue

$2,966,926

No earlier filing loaded for comparison.

Expenses

Up

$1,859,891

Up $10,238 (+0.6%) from 2012

Net Income

$1,107,035

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.

$20M$15M$10M$5.0M$0Assets 2012: $9,673,818Liabilities 2012: $4,650,069Net Assets 2012: $5,023,7492012Assets 2013: $10,110,019Liabilities 2013: $3,800,320Net Assets 2013: $6,309,6992013Assets 2015: $10,254,311Liabilities 2015: $1,596,028Net Assets 2015: $8,658,2832015Assets 2016: $9,971,652Liabilities 2016: $1,271,384Net Assets 2016: $8,700,2682016Assets 2018: $13,127,884Liabilities 2018: $1,666,623Net Assets 2018: $11,461,2612018Assets 2019: $14,423,565Liabilities 2019: $2,073,012Net Assets 2019: $12,350,5532019Assets 2020: $14,604,853Liabilities 2020: $608,583Net Assets 2020: $13,996,2702020Assets 2021: $16,094,716Liabilities 2021: $898,047Net Assets 2021: $15,196,6692021Assets 2022: $15,510,899Liabilities 2022: $975,372Net Assets 2022: $14,535,5272022Assets 2024: $15,374,326Liabilities 2024: $969,611Net Assets 2024: $14,404,7152024

Highlighted filing

2013

Assets$10,110,019
Liabilities$3,800,320
Net Assets$6,309,699

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $1,849,6532012Revenue 2013: $2,966,926Expenses 2013: $1,859,891Net Income 2013: $1,107,0352013Revenue 2015: $3,154,837Expenses 2015: $2,843,579Net Income 2015: $311,2582015Revenue 2016: $3,628,745Expenses 2016: $3,642,941Net Income 2016: -$14,1962016Revenue 2018: $6,661,226Expenses 2018: $6,543,541Net Income 2018: $117,6852018Revenue 2019: $6,739,449Expenses 2019: $6,443,838Net Income 2019: $295,6112019Revenue 2020: $6,891,363Expenses 2020: $5,822,107Net Income 2020: $1,069,2562020Revenue 2021: $5,764,698Expenses 2021: $5,102,539Net Income 2021: $662,1592021Revenue 2022: $5,460,241Expenses 2022: $5,063,995Net Income 2022: $396,2462022Revenue 2024: $4,340,994Expenses 2024: $4,771,202Net Income 2024: -$430,2082024

Highlighted filing

2013

Revenue$2,966,926
Expenses$1,859,891
Net Income$1,107,035
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Sep 29, 2014
Return Version
2013v3.1
Gross Receipts
$3,018,023
Mission and Program Overview

Mission

Nature collective's mission is to drive a passion for nature, for all. We believe in a world where everyone experiences, connects with, and protects nature.

San elijo lagoon conservancy protects and restores the resources of the san elijo lagoon ecological reserve, its watershed, and related ecosystems for the benefit of current and future generations. To further this mission, we: - engage and educate the community about the value of the reserve in order to promote ecological literacy and environmental responsibility. - conduct scientific research to advance restoration planning and conservation science -design and implement ecological management plans -manage and acquire land and easements; and -collaborate with the community, organizations, and government agencies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,173,701$5,170,984▼ $2,717
Investments in Publicly Traded Securities$2,168,441$2,372,061▲ $203,620
Cash and Non-Interest-Bearing Accounts$321,216$985,336▲ $664,120
Pledges and Grants Receivable$734,587$764,950▲ $30,363
Savings and Temporary Cash Investments$1,169,481$729,053▼ $440,428
Prepaid Expenses and Deferred Charges$2,171$4,542▲ $2,371
Total Assets$9,673,818$10,110,019▲ $436,201
Other Assets Total$104,221$83,093▼ $21,128
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,749,945$3,152,950▼ $596,995
Accounts Payable and Accrued Expenses$516,423$559,109▲ $42,686
Other Liabilities$124,246$73,708▼ $50,538
Deferred Revenue$259,455$14,553▼ $244,902
Total Liabilities$4,650,069$3,800,320▼ $849,749
Net Assets / Fund Balance
Unrestricted Net Assets$2,287,101$3,490,076▲ $1,202,975
Permanently Rstr Net Assets$2,046,438$1,906,321▼ $140,117
Temporarily Rstr Net Assets$690,210$913,302▲ $223,092
Total Net Assets Fund Balance$5,023,749$6,309,699▲ $1,285,950
Total Liabilities and Net Assets / Fund Balance$9,673,818$10,110,019▲ $436,201

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,165,760--
Equipment$5,224$161,477-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$2,466,189$1,955▲ $269,392$96,150$2,605,484
2012$2,379,678$9,719▲ $218,938$115,642$2,466,189
2011$2,101,482$1,433,557▼ $44,423$74,144$3,416,472
2010$2,915,122$5,388▲ $157,785$950,366$2,101,482
2009$2,452,086$60,829▲ $455,101$24,891$2,915,122
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Doug GibsonExecutive DiFT$132,133$4,800$136,933

Board Members and Trustees

NameTitle
Scott GriffithsPresident
Aaron WeissBoard Member
Bill HarmanBoard Member
Elizabeth VenrickBoard Member
Jim LauerBoard Member
Kevin JohnsonBoard Member
Mark HuffmanBoard Member
Nicolle Selby-thomasBoard Member
Patricia RinakerBoard Member
Paul WorthingtonBoard Member
Sally FosterBoard Member
Doug GillinghamSecretary
Ed QuinlivanTreasurer
Linda JonesVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Moffatt & NicholDesign/study-$435,966
Agri Chemical & Supply INCPlant Control-$223,168
Revenue and Support

Revenue Composition

Contributions and Grants
$2,869,015
Program Service Revenue
$0
Investment Income
$97,911
Other Revenue
$0
All Other Contributions
$1,882,302
Change in Net Assets
$1,107,035
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,270,986
Salaries, Compensation, and Employee Benefits$588,905
Total Fundraising Expense$93,759
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$795,709$946$3,122$799,777
Other Salaries and Wages$289,322$65,251$41,719$396,292
Current Officers, Directors, Trustees, and Key Employees$86,566$36,546$13,821$136,933
Interest$129,005$124-$129,129
All Other Expenses$74,956$22,246$15,575$112,777
Occupancy$25,998$39,152-$65,150
Payroll Taxes$29,097$7,843$4,297$41,237
Fees for Service Investment Mgmnt Fees-$35,902-$35,902
Office Expenses$14,583$4,504$7,626$26,713
Fees for Services Accounting-$13,593-$13,593
Other Expenses$13,258$272$11$13,541
Pension Plan Contributions$5,563$1,367$770$7,700
Other Employee Benefits$5,030$995$718$6,743
Insurance-$6,551-$6,551
Depreciation Depletion-$3,940-$3,940
Total Functional Expenses$1,525,700$240,432$93,759$1,859,891
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Liabilities - Vacation$73,708
Payroll Liabilities-
Pension Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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

Line 16a & 16b the san elijo lagoon conservancy invested 100,000 in the gateway conservation project, llc. The llc was formed by the conservancy, along with other corporations and individuals, to fund a loan of 3,750,000 to the conservancy to purchase 3.44 acers of vacant conservation land in the city of solona beach, ca during 2011. The conservancy's ownership percentage of the llc is 2.66%. The loan and purchase of the property occurred during 2011, as anticipated.

Form 990, Page 6, Part VI, Line 11B

The form 990 is provided to the finance committee and treasurer, prepared by an outside accountant and reviewed by the inside accountant, and reviewed by the executive director and the treasurer.

Form 990, Page 6, Part VI, Line 12C

Directors and staff are required to sign annual acknowledgement statements declaring they have received the conflict of interest policy, they have read and understand the policy, and they agree to comply with all of its provisions.

Form 990, Page 6, Part VI, Line 15A

The process for determining compensation for the executive director includes an annual review, a compensation comparability study (pay is compared to similar professionals), and approval by the board of directors.

Form 990, Page 6, Part VI, Line 15B

The process for determining compensation for the executive director includes an annual review, a compensation comparability study (pay is compared to similar professionals), and approval by the board of directors.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Form 990, Part VII

No director, trustee, or former director / trustee receives compensation for their services. All work is performed on a voluntary basis.

Filing and Contact Details

Filer

EIN
33-0358660
Phone
7604363944

Signing Officer

Name
Ed Quinlivan
Title
Treasurer
Phone
7604363944
Signed
2014-09-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Gibson
Formed
1988
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
12
Volunteers
500

Preparer

Preparer
Paul Redfern CPA
Phone
7606341120
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

San elijo lagoon conservancy protects and restores the resources of the san elijo lagoon ecological reserve, its watershed, and related ecosystems for the benefit of current and future generations. To further this mission, we: - engage and educate the community about the value of the reserve in order to promote ecological literacy and environmental responsibility. - conduct scientific research to advance restoration planning and conservation science -design and implement ecological management plans -manage and acquire land and easements; and -collaborate with the community, organizations, and government agencies.

Form 990, Page 2, Part III, Line 2

San elijo lagoon conservancy has undertaken a new program service in 2013. The program is titled the campaign for gateway park and includes fundraising initiatives to repay lenders and to begin restoring property that will be preserved as a public park.

Form 990, Page 2, Part III, Line 4A

With the state and county. In addition to increasing the amount of protected natural open space in our community, acquiring adjacent land prevents land uses that might be incompatible with the habitat values of the reserve by providing additional buffering next to the more ecologically sensitive areas of the reserve. The conservancy continues to explore opportunities to acquire additional land to further protect and expand the reserve. Restoration: the conservancy works to restore and improve natural habitat values within san elijo lagoon ecological reserve, its watershed (the escondido creek watershed) and the carlsbad hydrologic unit (a hydrologic unit made up of seven watersheds, including the escondido creek watershed). The consrvancy does this by keeping the inlet open so the lagoon receives daily doses of oxygen-rick sea water, planning for the restoration of the lagoon on the ecosystem level to restore habitat function, and controlling invasive plant infestations that threaten native plant and animal diversity throughout the carlsbad hydrologic unit. Scientific monitoring: the conservany's restoration work is guided by the resuts of its scientific monitoring activities. The conservancy collects and maintains a database of weekly water quality measurements dating back over 20 years. In addition to those weekly measurements, the conservancy collects continuous water quality data with the use of computer controlled equipment that support restoration projects and regional monitoring efforts. Other monitoring efforts, such as avian, fish, and invertebrate monitoring, are conducted periodically in support of specific restoration projects.

Form 990, Page 2, Part III, Line 4B

Community outreach: as part of its outreach activities in the community, the conservancy offers volunteer work parties, allowing community members to participate hands-on in the conservation and restoration of the san elijo lagoon. Work sites vary throughout the reserve, and activities typically include habitat restoration, trail maintenance, and trash cleanup. All participants receive in-depth information on the reserve, the watershed, and ways to protect them, including water conservation, drought-resistant landscaping, etc. The conservancy also publishes a quarterly newsletter and several monthly e-newsletters to keep the community informed about developments in the reserve.

Form 990, Page 2, Part III, Line 4C

The property in december, 2011 for 3.75 million.

Form 990, Part IX, Line 11G

Contract services conser/oth 792,844 165 2,657 payroll services 1,289 347 190 pension services 1,576 434 275

Financial Statement Notes

Schedule D, Page 1, Part II, Line 9

The san elijo lagoon conservancy uses the "zero valuation" approach to booking our conservation easements. The organization has not booked any expenses for the conservation easements because it has not purchased any. All the easements have been given to the organization by governmental agencies. The land trust alliance (lta)describes the reasoning behind using a zero valuation approach as, because the conservation easement does not have any market value it is not considered to be support.

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IRS990/ActivityOrMissionDesc0SAN ELIJO LAGOON CONSERVANCY PROTECTS AND RESTORES THE RESOURCES OF THE SAN ELIJO LAGOON ECOLOGICAL RESERVE, ITS WATERSHED, AND RELATED ECOSYSTEMS FOR THE BENEFIT OF CURRENT AND FUTURE GENERATIONS. TO FURTHER THIS MISSION, WE: - ENGAGE AND EDUCATE THE COMMUNITY ABOUT THE VALUE OF THE RESERVE IN ORDER TO PROMOTE ECOLOGICAL LITERACY AND ENVIRONMENTAL RESPONSIBILITY. - CONDUCT SCIENTIFIC RESEARCH TO ADVANCE RESTORATION PLANNING AND CONSERVATION SCIENCE -DESIGN AND IMPLEMENT ECOLOGICAL MANAGEMENT PLANS -MANAGE AND ACQUIRE LAND AND EASEMENTS; AND -COLLABORATE WITH THE COMMUNITY, ORGANIZATIONS, AND GOVERNMENT AGENCIES.
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IRS990/Desc0CONSERVATION, RESTORATION, SCIENTIFIC MONITORING CONSERVATION: THE CONSERVANCY CO-MANAGES THE SAN ELIJO LAGOON ECOLOGICAL RESERVE WITH THE COUNTY OF SAN DIEGO AND THE STATE OF CALIFORNIA DEPARTMENT OF FISH AND GAME THROUGH A MEMORANDUM OF UNDERSTANDING. THE RESERVE IS LOCATED ALONG THE COAST OF THE PACIFIC OCEAN BETWEEN THE CITIES OF ENCINITAS AND SOLANA BEACH IN NORTH SAN DIEGO COUNTY. IT COMPRISES APPROXIMATELY 1,000 ACRES OF LAND, IS OWNED COLLECTIVELY BY THE STATE OF CALIFORNIA, SAN DIEGO COUNTY AND THE CONSERVANCY, AND IS BOTH A STATE ECOLOGICAL RESERVE AND A COUNTY PARK. SINCE 2000, THE CONSERVANCY HAS ACQUIRED APPROXIMATELY 100 ACRES OF LAND, RESULTING IN A 10% INCREASE IN THE AMOUNT OF PROTECTED LAND WITHIN THE RESERVE, AND BECAME A JOINT OWNER WITH THE STATE AND COUNTY. IN ADDITION TO INCREASING THE AMOUNT OF PROTECTED NATURAL OPEN SPACE IN OUR COMMUNITY, ACQUIRING ADJACENT LAND PREVENTS LAND USES THAT MIGHT BE INCOMPATIBLE WITH THE HABITAT VALUES OF THE RESERVE BY PROVIDING ADDITIONAL BUFFERING NEXT TO THE MORE ECOLOGICALLY SENSITIVE AREAS OF THE RESERVE. THE CONSERVANCY CONTINUES TO EXPLORE OPPORTUNITIES TO ACQUIRE ADDITIONAL LAND TO FURTHER PROTECT AND EXPAND THE RESERVE. RESTORATION: THE CONSERVANCY WORKS TO RESTORE AND IMPROVE NATURAL HABITAT VALUES WITHIN SAN ELIJO LAGOON ECOLOGICAL RESERVE, ITS WATERSHED (THE ESCONDIDO CREEK WATERSHED) AND THE CARLSBAD HYDROLOGIC UNIT (A HYDROLOGIC UNIT MADE UP OF SEVEN WATERSHEDS, INCLUDING THE ESCONDIDO CREEK WATERSHED). THE CONSRVANCY DOES THIS BY KEEPING THE INLET OPEN SO THE LAGOON RECEIVES DAILY DOSES OF OXYGEN-RICK SEA WATER, PLANNING FOR THE RESTORATION OF THE LAGOON ON THE ECOSYSTEM LEVEL TO RESTORE HABITAT FUNCTION, AND CONTROLLING INVASIVE PLANT INFESTATIONS THAT THREATEN NATIVE PLANT AND ANIMAL DIVERSITY THROUGHOUT THE CARLSBAD HYDROLOGIC UNIT. SCIENTIFIC MONITORING: THE CONSERVANY'S RESTORATION WORK IS GUIDED BY THE RESUTS OF ITS SCIENTIFIC MONITORING ACTIVITIES. THE CONSERVANCY COLLECTS AND MAINTAINS A DATABASE OF WEEKLY WATER QUALITY MEASUREMENTS DATING BACK OVER 20 YEARS. IN ADDITION TO THOSE WEEKLY MEASUREMENTS, THE CONSERVANCY COLLECTS CONTINUOUS WATER QUALITY DATA WITH THE USE OF COMPUTER CONTROLLED EQUIPMENT THAT SUPPORT RESTORATION PROJECTS AND REGIONAL MONITORING EFFORTS. OTHER MONITORING EFFORTS, SUCH AS AVIAN, FISH, AND INVERTEBRATE MONITORING, ARE CONDUCTED PERIODICALLY IN SUPPORT OF SPECIFIC RESTORATION PROJECTS.
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IRS990/MissionDesc0SAN ELIJO LAGOON CONSERVANCY PROTECTS AND RESTORES THE RESOURCES OF THE SAN ELIJO LAGOON ECOLOGICAL RESERVE, ITS WATERSHED, AND RELATED ECOSYSTEMS FOR THE BENEFIT OF CURRENT AND FUTURE GENERATIONS. TO FURTHER THIS MISSION, WE: - ENGAGE AND EDUCATE THE COMMUNITY ABOUT THE VALUE OF THE RESERVE IN ORDER TO PROMOTE ECOLOGICAL LITERACY AND ENVIRONMENTAL RESPONSIBILITY. - CONDUCT SCIENTIFIC RESEARCH TO ADVANCE RESTORATION PLANNING AND CONSERVATION SCIENCE -DESIGN AND IMPLEMENT ECOLOGICAL MANAGEMENT PLANS -MANAGE AND ACQUIRE LAND AND EASEMENTS; AND -COLLABORATE WITH THE COMMUNITY, ORGANIZATIONS, AND GOVERNMENT AGENCIES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATIONAL OPPORTUNITIES AND COMMUNITY OUTREACH ENVIRONMENTAL EDUCATION: THE CONSERVANCY'S ENVIRONMENTAL EDUCATION PROGRAM IS FOUNDED ON THE BELIEF THAT IN ORDER TO PROTECT AND PRESERVE OUR NATURAL ENVIRONMENT, WE FIRST NEED TO UNDERSTAND IT AND APPRECIATE IT. TO THIS END, OVER 30 PREFESSIONALLY TRAINED NATURALIST-DOCENTS LEAD SCHOOLS AND OTHER YOUTH GROUPS ON GUIDED WALKS THROUGHOUT THE EXTENSIVE NETWORK OF TRAILS IN THE RESERVE. STUDENTS CAN TOUCH, SMELL AND SEE FIRST-HAND THE RICH DIVERSITY OF ANIMAL AND PLANT LIFE AT THE LAGOON, AND THE CONSEQUENCES - BOTH FAVORABLE AND UNFAVORABLE - THAT OUR CHOICES AND ACTIONS HAVE ON THE ENVIRONMENT. THE CONSERVANCY ALSO OFFERS REGULAR DOCENT-LED WALKS TO THE GENERAL PUBLIC. COMMUNITY OUTREACH: AS PART OF ITS OUTREACH ACTIVITIES IN THE COMMUNITY, THE CONSERVANCY OFFERS VOLUNTEER WORK PARTIES, ALLOWING COMMUNITY MEMBERS TO PARTICIPATE HANDS-ON IN THE CONSERVATION AND RESTORATION OF THE SAN ELIJO LAGOON. WORK SITES VARY THROUGHOUT THE RESERVE, AND ACTIVITIES TYPICALLY INCLUDE HABITAT RESTORATION, TRAIL MAINTENANCE, AND TRASH CLEANUP. ALL PARTICIPANTS RECEIVE IN-DEPTH INFORMATION ON THE RESERVE, THE WATERSHED, AND WAYS TO PROTECT THEM, INCLUDING WATER CONSERVATION, DROUGHT-RESISTANT LANDSCAPING, ETC. THE CONSERVANCY ALSO PUBLISHES A QUARTERLY NEWSLETTER AND SEVERAL MONTHLY E-NEWSLETTERS TO KEEP THE COMMUNITY INFORMED ABOUT DEVELOPMENTS IN THE RESERVE.
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IRS990/ProgSrvcAccomActy3Grp/Desc0THE CAMPAIGN FOR GATEWAY PARK IS SAN ELIJO LAGOON CONSERVANCY'S FUNDRAISING INITIATIVE TO REPAY LENDERS AND BEGIN TO RESTORE PROPERTY THAT WILL BE PRESERVED AS A PUBLIC PARK. FOR OVER 20 YEARS, THE LOCAL BEACH COMMUNITY HAS ENDEAVORED TO PROTECT THE GATEWAY PROPERTY, ITS TRAILS AND UNOBSTRUCTED VIEWS OF SAN DIEGO COUNTY'S NORTH COAST FROM DEVELOPMENT. GATEWAY IS A 3.4 ACRE PARCEL AT THE NORTHERN CITY LIMIT OF SOLANA BEACH, SAN DIEGO COUNTY, CA (640 NORTH HIGHWAY 101, SOLANA BEACH, CALIFORNIA 92075). IN LATE 2011, THE BANK PROPOSED ON A CONDO/HOTEL PROJECT FORECLOSED ON THAT PROPERTY AND PUT IT ON THE MARKET, REQUIRING A SALE BY YEAR-END. THE SAN ELIJO LAGOON CONSERVANCY WAS ABLE TO BORROW FROM INDIVIDUALS IN THE COMMUNITY WHO STEPPED FORWARD TO LEND FUNDS TO THE CONSERVANCY, ENABLING IT TO ACQUIRE THE PROPERTY IN DECEMBER, 2011 FOR 3.75 MILLION.
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