Civic Intelligence

Long Beach Affordable Housing

990 • Fiscal year 2017 • EIN 33-0571228

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

Organization Profilewww.lbahc.org

View Organization Page

4201 Long Beach BlvdLong Beach, CA 90807

(562) 595-6111

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.01x

Higher debt load relative to assets than 93% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

92nd percentile

3.62x

Higher debt load relative to revenue than 92% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

10th percentile

-23%

Higher net margin than 10% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

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

Source year 2017

Revenue Growth

Score unavailable

No value available

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

Source year 2017

Balance Sheet
Liabilities / Assets93rd percentile

Assets

$11,217,610

No earlier filing loaded for comparison.

Net Assets

-$90,018

No earlier filing loaded for comparison.

Liabilities

$11,307,628

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin10th percentile

Revenue

$3,127,548

No earlier filing loaded for comparison.

Expenses

$3,839,530

No earlier filing loaded for comparison.

Net Income

-$711,982

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MAssets 2017: $11,217,610Liabilities 2017: $11,307,628Net Assets 2017: -$90,0182017Assets 2018: $10,969,630Liabilities 2018: $10,867,813Net Assets 2018: $101,8172018Assets 2019: $11,830,667Liabilities 2019: $10,029,997Net Assets 2019: $1,800,6702019Assets 2020: $10,475,194Liabilities 2020: $8,142,338Net Assets 2020: $2,332,8562020Assets 2021: $10,722,629Liabilities 2021: $8,063,338Net Assets 2021: $2,659,2912021Assets 2022: $8,936,139Liabilities 2022: $6,581,528Net Assets 2022: $2,354,6112022Assets 2023: $8,844,980Liabilities 2023: $5,871,228Net Assets 2023: $2,973,7522023Assets 2024: $8,568,973Liabilities 2024: $5,738,502Net Assets 2024: $2,830,4712024

Highlighted filing

2017

Assets$11,217,610
Liabilities$11,307,628
Net Assets-$90,018
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $3,127,548Expenses 2017: $3,839,530Net Income 2017: -$711,9822017Revenue 2018: $3,079,242Expenses 2018: $2,865,111Net Income 2018: $214,1312018Revenue 2019: $4,575,060Expenses 2019: $2,876,207Net Income 2019: $1,698,8532019Revenue 2020: $2,521,410Expenses 2020: $1,536,038Net Income 2020: $985,3722020Revenue 2021: $2,548,425Expenses 2021: $2,193,489Net Income 2021: $354,9362021Revenue 2022: $2,746,153Expenses 2022: $2,460,999Net Income 2022: $285,1542022Revenue 2023: $3,082,153Expenses 2023: $2,566,905Net Income 2023: $515,2482023Revenue 2024: $2,477,624Expenses 2024: $2,420,077Net Income 2024: $57,5472024

Highlighted filing

2017

Revenue$3,127,548
Expenses$3,839,530
Net Income-$711,982
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.2
Gross Receipts
$3,127,548
Mission and Program Overview

Mission

Provision of low-income housing

The Organization provides affordable housing and neighborhood revitalization activities for very-low and moderate income families, pursuant to federal, state and local programs in the Los Angeles Revitalization Zones.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,168,578$10,177,084▲ $8,506
Accounts Receivable$328,516$333,165▲ $4,649
Cash and Non-Interest-Bearing Accounts$103,534$143,796▲ $40,262
Prepaid Expenses and Deferred Charges$34,619$43,064▲ $8,445
Intangible Assets$8,008$20,643▲ $12,635
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-
Inventories for Sale or Use-$0-
Total Assets$11,066,173$11,217,610▲ $151,437
Other Assets Total$422,918$499,858▲ $76,940
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,202,340$10,026,928▲ $824,588
Other Liabilities$800,571$716,512▼ $84,059
Accounts Payable and Accrued Expenses$441,298$561,620▲ $120,322
Deferred Revenue-$2,568-
Total Liabilities$10,444,209$11,307,628▲ $863,419
Net Assets / Fund Balance
Unrestricted Net Assets$621,964$-90,018▼ $711,982
Total Net Assets Fund Balance$621,964$-90,018▼ $711,982
Total Liabilities and Net Assets / Fund Balance$11,066,173$11,217,610▲ $151,437

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,948,730$4,168,146$9,116,876
Land$4,759,665-$4,759,665
Other Land Buildings$273,146$19,815$292,961
Leasehold Improvements$192,597$59,881$252,478
Equipment$2,946$5,304$8,250
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
David BraunsteinPresident
Enzo CottognetiVice President
Brenda ThomasDirector
Brian UlaszewskiDirector
Josh ButlerDirector
Lynda EatonDirector
Patsy HowardSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,948,957
Investment Income
$2,573
Other Revenue
$176,018
Change in Net Assets
$-711,982
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,218,539
Salaries, Compensation, and Employee Benefits$591,116
Grants and Similar Amounts Paid$29,875
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$591,278$29,193-$620,471
Other Salaries and Wages$313,707$238,920-$552,627
All Other Expenses$169,655$157,295-$326,950
Depreciation Depletion$269,886--$269,886
Insurance$118,557$83,575-$202,132
Fees for Services Management$151,834--$151,834
Fees for Services Accounting$71,977$56,145-$128,122
Other Expenses$81,591$39,484-$121,075
Office Expenses$42,013$27,174-$69,187
Fees for Services Legal$9,052$49,334-$58,386
Occupancy-$48,641-$48,641
Payroll Taxes$38,489--$38,489
Grants to Domestic Orgs$29,875--$29,875
Advertising-$27,010-$27,010
Conferences and Meetings-$14,791-$14,791
Travel-$7,044-$7,044
Total Functional Expenses$2,674,573$1,164,957$0$3,839,530
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bet TzedekLos Angeles, CA--$10,000
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 deposits$346,721
Investments in Limited Partnerships$306,468
Bank line of credit$63,320
Rounding$3
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 2: Description of Business or Family Relationship of Officers, Directors, Et

“Board members Loretta Stevens and Jonathan Newsom are married to each other.”

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

“The Form 990 is reviewed by the Finance Committee and Executive Director to ensure accuracy and recommends approval to the Board of Directors.The Board reviews the Form 990 prior to approval.”

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

“The LBAHC Board of Directors conducts an annual review of operations and financial records to ensure they are in compliance with the conflict of interest policy. A questionnaire is completed by relevant persons annually. Additionally, legal counsel is employed to make sure they adhere to the conflict of interest policy.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The Organization has an employee manual and executes employment contracts. Executive salaries are approved by the Board.”

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

“The Organization's Form 990's and financial statements are available to the public on the California Attorney General website. Documents are available for review by the general public at the office location during regular business hours.”

Filing and Contact Details

Filer

Filer Name
Long Beach Affordable Housing
EIN
33-0571228
Phone
5625956111
Address
4201 Long Beach Blvd, Long Beach, CA 90807

Signing Officer

Name
Jeanette Eberhardt
Title
Controller
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
1993
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
3

Preparer

Firm
Suarez Tax Services LLP
Address
1891 N Gaffey St Suite 231, San Pedro, CA 90731
Preparer
Jeffrey P Suarez
Phone
3108327887
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IRS990/OtherRevenueMiscGrp/Desc1Prtn Inv income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0176018
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0176018
IRS990/OtherRevenueTotalAmt0176018
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0238920
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0313707
IRS990/OtherSalariesAndWagesGrp/TotalAmt0552627
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt038489
IRS990/PayrollTaxesGrp/TotalAmt038489
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt034619
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt043064
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
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IRS990/ProgramServiceRevenueGrp/BusinessCd4531110
IRS990/ProgramServiceRevenueGrp/Desc0Asset management fees
IRS990/ProgramServiceRevenueGrp/Desc1Laundry and vending
IRS990/ProgramServiceRevenueGrp/Desc2Low income rents
IRS990/ProgramServiceRevenueGrp/Desc3Partnership mgmt fee
IRS990/ProgramServiceRevenueGrp/Desc4Property management fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt060813
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt124400
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt22863744
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt060813
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt124400
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22863744
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt026113
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt02973498
IRS990/PYOtherRevenueAmt0248106
IRS990/PYProgramServiceRevenueAmt02877366
IRS990/PYRevenuesLessExpensesAmt0-569534
IRS990/PYSalariesCompEmpBnftPaidAmt0747621
IRS990/PYTotalExpensesAmt03721119
IRS990/PYTotalRevenueAmt03151585
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-711982
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt022935
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt022935
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03583717
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt03484561
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02875259
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt09943537
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt022935
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt022935
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0287228
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0261639
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0147885
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0696752
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt09943537
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
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IRS990ScheduleA/Total509Grp/TotalAmt09943537
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt03746200
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03046079
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt010663224
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt04948730
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04168146
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09116876
IRS990ScheduleD/EquipmentGrp/BookValueAmt02946
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05304
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08250
IRS990ScheduleD/LandGrp/BookValueAmt04759665
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04759665
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0192597
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt059881
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0252478
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0273146
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt019815
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0292961
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt063320
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1306468
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3346721
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Bank line of credit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Investments in Limited Partnerships
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Tenant deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010177084
IRS990ScheduleD/TotalLiabilityAmt0716512
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BET TZEDEK
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03250 Wilshire Blvd 13th Floor
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Los Angeles
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd090010
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board members Loretta Stevens and Jonathan Newsom are married to each other.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is reviewed by the Finance Committee and Executive Director to ensure accuracy and recommends approval to the Board of Directors.The Board reviews the Form 990 prior to approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The LBAHC Board of Directors conducts an annual review of operations and financial records to ensure they are in compliance with the conflict of interest policy. A questionnaire is completed by relevant persons annually. Additionally, legal counsel is employed to make sure they adhere to the conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization has an employee manual and executes employment contracts. Executive salaries are approved by the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization's Form 990's and financial statements are available to the public on the California Attorney General website. Documents are available for review by the general public at the office location during regular business hours.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
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 15b: Compensation Review and Approval Process for Officers and Key Employees

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,217,610
Liabilities
$11,307,628
Net assets
-$90,018
Revenue
$3,127,548
Expenses
$3,839,530
Net income
-$711,982
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.57$5.74$2.83$2.48$2.42$0.06
2023Detailed filing. Detailed filing data is available for this year.$8.84$5.87$2.97$3.08$2.57$0.52
2022Detailed filing. Detailed filing data is available for this year.$8.94$6.58$2.35$2.75$2.46$0.29
2021Detailed filing. Detailed filing data is available for this year.$10.7$8.06$2.66$2.55$2.19$0.35
2020Detailed filing. Detailed filing data is available for this year.$10.5$8.14$2.33$2.52$1.54$0.99
2019Detailed filing. Detailed filing data is available for this year.$11.8$10.0$1.80$4.58$2.88$1.70
2018Detailed filing. Detailed filing data is available for this year.$11.0$10.9$0.10$3.08$2.87$0.21
2017Detailed filing. Detailed filing data is available for this year.$11.2$11.3$0.09$3.13$3.84$0.71