Civic Intelligence

Esperanza Housing and Community Development Corporation

990 • Fiscal year 2020 • EIN 33-0515218

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 21, 2021

3111 Camino Del Rio North Ste 800San Diego, CA 92108

(619) 282-6647

Siviq Scores

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

Liabilities / Assets

28th percentile

0.09x

Higher debt load relative to assets than 28% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

94th percentile

5.47x

Higher debt load relative to revenue than 94% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

1st percentile

-340%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

52nd percentile

$361,682

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 43.3% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

41st percentile

3.6%

Faster asset growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-98%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Assets

Up

$51,920,065

Up $1,784,262 (+3.6%) from 2019

Net Assets

Up

$47,351,794

Up $2,951,561 (+6.6%) from 2019

Liabilities

Down

$4,568,271

Down $1,167,299 (-20%) from 2019

Revenue

Down

$835,773

Down $37,151,243 (-98%) from 2019

Expenses

Down

$3,677,955

Down $3,140,759 (-46%) from 2019

Net Income

Down

-$2,842,182

Down $34,010,484 (-109%) from 2019

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2016: $4,088,585Liabilities 2016: $0Net Assets 2016: $4,088,5852016Assets 2017: $51,819,330Liabilities 2017: $40,281,637Net Assets 2017: $11,537,6932017Assets 2018: $51,948,382Liabilities 2018: $40,780,514Net Assets 2018: $11,167,8682018Assets 2019: $50,135,803Liabilities 2019: $5,735,570Net Assets 2019: $44,400,2332019Assets 2020: $51,920,065Liabilities 2020: $4,568,271Net Assets 2020: $47,351,7942020Assets 2021: $51,473,357Liabilities 2021: $6,356,205Net Assets 2021: $45,117,1522021Assets 2022: $55,504,610Liabilities 2022: $3,845,336Net Assets 2022: $51,659,2742022Assets 2023: $171,394,736Liabilities 2023: $81,812,188Net Assets 2023: $89,582,5482023Assets 2024: $141,529,328Liabilities 2024: $67,295,338Net Assets 2024: $74,233,9902024

Highlighted filing

2020

Assets$51,920,065
Liabilities$4,568,271
Net Assets$47,351,794

Operations Trend

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

$40M$20M$0-$20MRevenue 2016: $3,429,522Expenses 2016: $0Net Income 2016: $3,429,5222016Revenue 2017: $2,555,985Expenses 2017: $3,380,750Net Income 2017: -$824,7652017Revenue 2018: $6,653,780Expenses 2018: $4,655,048Net Income 2018: $1,998,7322018Revenue 2019: $37,987,016Expenses 2019: $6,818,714Net Income 2019: $31,168,3022019Revenue 2020: $835,773Expenses 2020: $3,677,955Net Income 2020: -$2,842,1822020Revenue 2021: $882,602Expenses 2021: $1,634,465Net Income 2021: -$751,8632021Revenue 2022: $1,058,745Expenses 2022: $3,573,634Net Income 2022: -$2,514,8892022Revenue 2023: $4,697,340Expenses 2023: $4,708,562Net Income 2023: -$11,2222023Revenue 2024: $4,499,496Expenses 2024: $11,094,153Net Income 2024: -$6,594,6572024

Highlighted filing

2020

Revenue$835,773
Expenses$3,677,955
Net Income-$2,842,182
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 21, 2021
Return Version
2020v4.0
Gross Receipts
$835,773
Mission and Program Overview

Mission

To create affordable housing opportunities for low and moderate income persons, through development, ownership, acquisition, lending and investment and to promote community development to improve housing and economic conditions of the underprivileged.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$36,876,066$36,771,725▼ $104,341
Investments Program Related$1,944,280$7,232,257▲ $5,287,977
Land, Buildings, and Equipment, Net$7,366,763$6,128,572▼ $1,238,191
Savings and Temporary Cash Investments$1,995,094$0▼ $1,995,094
Cash and Non-Interest-Bearing Accounts$1,242,490$567,796▼ $674,694
Accounts Receivable$93,977$60,773▼ $33,204
Intangible Assets-$10,000-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$50,135,803$51,920,065▲ $1,784,262
Other Assets Total$617,133$1,148,942▲ $531,809
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,650,453$3,650,453→ $0
Accounts Payable and Accrued Expenses$1,361,107$917,818▼ $443,289
Unsecured Notes Loans Payable$724,010--
Total Liabilities$5,735,570$4,568,271▼ $1,167,299
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$44,400,233$47,351,794▲ $2,951,561
Total Net Assets Fund Balance$44,400,233$47,351,794▲ $2,951,561
Total Liabilities and Net Assets / Fund Balance$50,135,803$51,920,065▲ $1,784,262

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,050,000-$4,050,000
Equipment$2,078,572$831,428$2,910,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sean SpearPresident & CEO
Susan ReynoldsPresident / CEO
Brian KayCFO
Robert GottliebSecretary
Stephen BakerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$835,773
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-2,842,182
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,677,955
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$3,236,168--$3,236,168
Depreciation Depletion$415,714--$415,714
Other Expenses$26,073--$26,073
Total Functional Expenses$3,677,955$0$0$3,677,955
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-
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
Yes
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

The organization has a contract with an unaffiliated property management company to manage the daily operations of all the apartment complexes.

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

The 990 is reviewed internally and then presented to the audit committee for review. All board members receive a copy of the 990 for review prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

In case of a conflict of interest issue, the board would review the situation. There have been no known conflicts of interest for the current tax year.

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

The organization will provide the governing documents, policies and financial statements to any person who requests this information in writing. This information can be obtained in the form of pdf documents.

Filing and Contact Details

Filer

Filer Name
Esperanza Housing and Community
EIN
33-0515218
Phone
6192826647
Address
3111 CAMINO DEL RIO NORTH STE 800, SAN DIEGO, CA 92108

Signing Officer

Name
Brian Kay
Title
CFO
Signed
2021-10-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sean Spear
Formed
1991
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

Firm
Leaf & Cole LLP
Address
2810 Camino Del Rio South Suite 200, San Diego, CA 92108
Preparer
Latonya M Knox
Phone
6192947200
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

Partnership income = $2950736

Other Changes In Net Assets Or Fund Balances - Other Increases

Transfer of net assets = $2843007

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 appropriate support for any tax positions taken, and as such, do not have any uncertain tax positions that are material to the financial statements. The Organization is not a private foundation.The Organization's Returns of Organization Exempt from Income Tax for the years ended December 31, 2020, 2019, 2018 and 2017 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/Desc0Esperanza Housing and Community Development Corporation (Esperanza), a California Nonprofit Corporation, has partnership interests in various limited partnerships and is the sole member of Concord Sun Ridge LLC, CHW Arden Way Development LLC, CHW Las Haciendas Development LLC, Navajo Road Development Holding Company LLC and Wooster Ave, LLC. The limited partnerships are developed and operated by Community HousingWorks (CHW), a California Nonprofit Corporation, as affordable housing for low-income persons. Each of these limited partnership's file a separate partnership tax return Form 1065 (federal) and Form 565 (state). Esperanza's mission to develop housing for low-income persons and to promote community development to improve the housing and economic conditions of the underprivileged is fulfilled through its participation as a limited partner in these limited partnerships. Partnership Names:Breihan Housing AssociatesCedar Road Housing AssociatesCHW Ulric Street DevelopmentDaybreak Housing PartnershipDelta Village Housing Associates Dove Family Housing AssociatesEsperanza Gardens ApartmentsEucalyptus View Cooperative Housing AssociatesFallbrook View Housing AssociatesHaley Ranch Estates Housing AssociatesKalmia Street Housing AssociatesLas Haciendas Housing AssociatesLinda Vista Housing AssociatesMission Grove Housing AssociatesMorningside Housing AssociatesNavajo Road Housing AssociatesNettleton Road Housing AssociatesOrange Place Housing AssociatesPortola Senior Housing AssociatesRoyal Oaks Housing AssociateThe Bowron Road Group Limited Partnership Tremont Street Apartments Limited PartnershipWinona Gardens Housing Associates.
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03705805
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02539357
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03429522
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt013691233
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01949
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02555985
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt016655836
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04050000
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 appropriate support for any tax positions taken, and as such, do not have any uncertain tax positions that are material to the financial statements. The Organization is not a private foundation.The Organization's Returns of Organization Exempt from Income Tax for the years ended December 31, 2020, 2019, 2018 and 2017 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/TotalBookValueLandBuildingsAmt06128572
IRS990ScheduleD/TotalBookValueProgramRltdAmt07232257
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt170000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0230854
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1269829
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt09484
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt19560
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt016204
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt112293
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Brian Kay
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Susan Reynolds
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1President / CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0273167
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1361682
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A CONTRACT WITH AN UNAFFILIATED PROPERTY MANAGEMENT COMPANY TO MANAGE THE DAILY OPERATIONS OF ALL THE APARTMENT COMPLEXES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED INTERNALLY AND THEN PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW. ALL BOARD MEMBERS RECEIVE A COPY OF THE 990 FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN CASE OF A CONFLICT OF INTEREST ISSUE, THE BOARD WOULD REVIEW THE SITUATION. THERE HAVE BEEN NO KNOWN CONFLICTS OF INTEREST FOR THE CURRENT TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION WILL PROVIDE THE GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS TO ANY PERSON WHO REQUESTS THIS INFORMATION IN WRITING. THIS INFORMATION CAN BE OBTAINED IN THE FORM OF PDF DOCUMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PARTNERSHIP INCOME = $2950736
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5TRANSFER OF NET ASSETS = $2843007
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 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other Changes In Net Assets Or Fund Balances - Other Increases
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0ESPERANZA HOUSING & COMMUNITY DEV CORP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1ESPERANZA HOUSING & COMMUNITY DEV CORP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2ESPERANZA HOUSING & COMMUNITY DEV CORP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt3ESPERANZA HOUSING & COMMUNITY DEV CORP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt4ESPERANZA HOUSING & COMMUNITY DEV CORP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0WOOSTER AVE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1CONCORD SUN RIDGE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2CHW ARDEN WAY DEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt3CHW LAS HACIENDAS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt4NAVAJO ROAD DEVELOPMENT HOLDING LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0814998322
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1810714244
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2330515218
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN3843145688
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IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt18552403
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt24508088
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt354515
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0CA
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IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1LOW INCOME HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt2LOW INCOME HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt3LOW INCOME HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt4LOW INCOME HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0590499
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt1228335
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt03111 CAMINO DEL RIO NORTH STE 800
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt13111 CAMINO DEL RIO NORTH STE 800
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt23111 CAMINO DEL RIO NORTH STE 800
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt33111 CAMINO DEL RIO NORTH STE 800
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt43111 CAMINO DEL RIO NORTH STE 800
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0SAN DIEGO
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1SAN DIEGO
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm2SAN DIEGO
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm3SAN DIEGO
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm4SAN DIEGO
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0CA
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd4CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd092108
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd192108

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