Civic Intelligence

Hollenbeck Palms

990 • Fiscal year 2015 • EIN 71-0876594

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 06, 2016

573 South Boyle AvenueLos Angeles, CA 90033

(323) 263-6195

Siviq Scores

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

Liabilities / Assets

68th percentile

0.51x

Higher debt load relative to assets than 68% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

86th percentile

2.55x

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

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

56th percentile

5.6%

Higher net margin than 56% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

34th percentile

$256,927

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

78th percentile

10%

Faster asset growth than 78% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

37th percentile

0.6%

Faster revenue growth than 37% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Up

$88,623,374

Up $8,290,785 (+10%) from 2014

Net Assets

Down

$43,537,098

Down $714,297 (-1.6%) from 2014

Liabilities

Up

$45,086,276

Up $9,005,082 (+25%) from 2014

Revenue

Up

$17,709,789

Up $109,757 (+0.6%) from 2014

Expenses

Up

$16,717,888

Up $411,519 (+2.5%) from 2014

Net Income

Down

$991,901

Down $301,762 (-23%) from 2014

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $76,051,591Liabilities 2011: $43,045,968Net Assets 2011: $33,005,6232011Assets 2012: $75,356,168Liabilities 2012: $41,723,708Net Assets 2012: $33,632,4602012Assets 2013: $78,107,280Liabilities 2013: $37,607,049Net Assets 2013: $40,500,2312013Assets 2014: $80,332,589Liabilities 2014: $36,081,194Net Assets 2014: $44,251,3952014Assets 2015: $88,623,374Liabilities 2015: $45,086,276Net Assets 2015: $43,537,0982015Assets 2016: $87,207,152Liabilities 2016: $42,422,016Net Assets 2016: $44,785,1362016Assets 2017: $85,445,937Liabilities 2017: $40,161,246Net Assets 2017: $45,284,6912017Assets 2018: $86,146,302Liabilities 2018: $40,003,787Net Assets 2018: $46,142,5152018Assets 2019: $85,510,383Liabilities 2019: $39,670,328Net Assets 2019: $45,840,0552019Assets 2020: $83,559,690Liabilities 2020: $41,945,222Net Assets 2020: $41,614,4682020Assets 2021: $91,601,425Liabilities 2021: $40,867,722Net Assets 2021: $50,733,7032021Assets 2022: $86,831,720Liabilities 2022: $41,854,153Net Assets 2022: $44,977,5672022Assets 2023: $87,844,249Liabilities 2023: $41,406,803Net Assets 2023: $46,437,4462023Assets 2024: $86,206,813Liabilities 2024: $39,214,775Net Assets 2024: $46,992,0382024

Highlighted filing

2015

Assets$88,623,374
Liabilities$45,086,276
Net Assets$43,537,098

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2011: $15,645,3312011Expenses 2012: $16,128,9602012Revenue 2013: $20,152,700Expenses 2013: $16,138,507Net Income 2013: $4,014,1932013Revenue 2014: $17,600,032Expenses 2014: $16,306,369Net Income 2014: $1,293,6632014Revenue 2015: $17,709,789Expenses 2015: $16,717,888Net Income 2015: $991,9012015Revenue 2016: $18,428,096Expenses 2016: $17,436,410Net Income 2016: $991,6862016Revenue 2017: $17,312,396Expenses 2017: $17,437,520Net Income 2017: -$125,1242017Revenue 2018: $18,766,874Expenses 2018: $17,237,636Net Income 2018: $1,529,2382018Revenue 2019: $17,186,491Expenses 2019: $17,578,154Net Income 2019: -$391,6632019Revenue 2020: $18,313,454Expenses 2020: $18,824,623Net Income 2020: -$511,1692020Revenue 2021: $22,351,666Expenses 2021: $19,898,299Net Income 2021: $2,453,3672021Revenue 2022: $21,479,111Expenses 2022: $20,498,539Net Income 2022: $980,5722022Revenue 2023: $25,021,223Expenses 2023: $23,746,682Net Income 2023: $1,274,5412023Revenue 2024: $26,451,732Expenses 2024: $25,705,119Net Income 2024: $746,6132024

Highlighted filing

2015

Revenue$17,709,789
Expenses$16,717,888
Net Income$991,901
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 6, 2016
Return Version
2014v6.0
Gross Receipts
$23,234,602
Mission and Program Overview

Mission

Hollenbeck palms is committed to providing a residence for those in the later years of their lives that encompasses a healthy environment of comfort, safety, and enjoyment; that attends to their physical, mental, and spiritual needs; and that is quick to respond to and assist in those needs whether immediate or long term, and to do so with great compassion, honesty, dignity and genuine love.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$42,708,903$40,599,746▼ $2,109,157
Land, Buildings, and Equipment, Net$27,179,061$27,842,035▲ $662,974
Cash and Non-Interest-Bearing Accounts$4,018,059$13,032,395▲ $9,014,336
Accounts Receivable$1,734,066$1,691,232▼ $42,834
Savings and Temporary Cash Investments$459,653$1,187,760▲ $728,107
Pledges and Grants Receivable$1,470,421$988,284▼ $482,137
Prepaid Expenses and Deferred Charges$115,799$197,020▲ $81,221
Inventories for Sale or Use$160,803$162,538▲ $1,735
Total Assets$80,332,589$88,623,374▲ $8,290,785
Other Assets Total$2,485,824$2,922,364▲ $436,540
Liabilities
Tax Exempt Bond Liabilities$22,420,000$21,815,000▼ $605,000
Mortgage Notes Payable Secured by Investment Property-$10,000,000-
Other Liabilities$10,858,189$9,949,314▼ $908,875
Accounts Payable and Accrued Expenses$2,803,005$3,321,962▲ $518,957
Total Liabilities$36,081,194$45,086,276▲ $9,005,082
Net Assets / Fund Balance
Unrestricted Net Assets$40,189,205$39,018,809▼ $1,170,396
Temporarily Rstr Net Assets$3,288,867$3,744,966▲ $456,099
Permanently Rstr Net Assets$773,323$773,323→ $0
Total Net Assets Fund Balance$44,251,395$43,537,098▼ $714,297
Total Liabilities and Net Assets / Fund Balance$80,332,589$88,623,374▲ $8,290,785

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,814,052$16,338,677$42,152,729
Equipment$1,999,891$4,076,169$6,076,060
Land$28,092-$28,092
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William HeidemanPresident/ceFT$196,956$59,971$256,927
William HeidemanPresident/CEO-$196,956$59,971$256,927
Morris ShockleyCFOFT$139,561$39,139$178,700
Peggy L HeidemanAdmissions DFT$115,580$40,805$156,385
Peggy L HeidemanAdmissions Director-$115,580$40,805$156,385
Ray ShivelyChief EngineFT$124,900$27,549$152,449
Ray ShivelyChief Engineer-$124,900$27,549$152,449
Johnny YoungControllerFT$101,121$30,103$131,224
John M ShivelyEngineerFT$105,004$24,686$129,690
Ivania RamirezDirector ofFT$103,844$18,087$121,931

Board Members and Trustees

NameTitle
Carol a JohnstonBoard Chair
Betty J FogtBoard Member
David AdamsBoard Member
Edward S GarlockBoard Member
Michael DavisBoard Member
Phil SwanBoard Member
Tracy HirrelBoard Member
Casey AdamsSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Team Rehab INCTherapy6531 SILENT HARBOR DR, Huntington Beach, CA 92648$444,909
Creative Landscape & MaintLandscaping23944 NOMAR ST, Woodland Hills, CA 91367$128,098
Revenue and Support

Revenue Composition

Contributions and Grants
$507,524
Program Service Revenue
$13,874,368
Investment Income
$3,185,089
Other Revenue
$142,808
All Other Contributions
$507,524
Change in Net Assets
$991,901

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,709,789
Total Revenue per Audited Statements
$17,709,789
Total Revenue per Form 990
$17,709,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,441,471
Other Expenses$8,276,417
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,952,332$795,520-$5,747,852
Other Employee Benefits$1,702,769$423,999-$2,126,768
Depreciation Depletion-$1,192,885-$1,192,885
Office Expenses$685,690$170,836-$856,526
Other Expenses$792,357$261,754-$792,357
Occupancy-$625,819-$625,819
Current Officers, Directors, Trustees, and Key Employees-$566,851-$566,851
Advertising-$256,224-$256,224
Insurance-$252,805-$252,805
All Other Expenses$156,606$69,961-$226,567
Fees for Services Other$83,849$106,323-$190,172
Interest-$170,208-$170,208
Fees for Services Accounting-$123,143-$123,143
Fees for Services Legal-$67,248-$67,248
Conferences and Meetings$4,088$7,721-$11,809
Travel-$7,026-$7,026
Total Functional Expenses$10,223,868$6,494,020$0$16,717,888

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,717,888
Total Expenses per Audited Statements$16,717,888
Total Expenses per Form 990$16,717,888
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
Other Liabilities$9,949,314

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Statewide Communities De2007-02-01$25,300,000Bond proceeds were used to demolish certain existing buildings, construct a

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Page 6, Part VI, Line 11B

No review was or will be conducted.

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

Conflict of interest statements are signed by trustees annually and reviewed by management.

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

Board of trustees determines compensation for the top official based on comparable salaries in the local area.

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

Board of trustees determines compensation for all officers and key employees, based on comparable salaries in the local area.

Form 990, Page 6, Part VI, Line 19

Documents are available to the public upon request

Filing and Contact Details

Filer

Filer Name
Hollenbeck Palms
EIN
71-0876594
Phone
3232636195
Address
573 SOUTH BOYLE AVENUE, LOS ANGELES, CA 90033

Signing Officer

Name
Johnny Young
Title
Controller
Phone
3232636195
Signed
2016-01-06
Discuss with paid preparer
Yes

Organization Details

Formed
2001
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
190

Preparer

Firm
Vicenti Lloyd & Stutzman
Address
2210 E ROUTE 66 STE 100, GLENDORA, CA 91740-4676
Preparer
Timothy D Evans CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Hollenbeck palms is committed to providing a residence for those in the later years of their lives that encompasses a healthy environment of comfort, safety, and enjoyment; that attends to their physical, mental, and spiritual needs; and that is quick to respond to and assist in those needs whether immediate or long term, and to do so with great compassion, honesty, dignity and genuine love.

Form 990, Part XI, Line 9

Unrealized gain / (loss) on investments -1,406,309 change in pension liability 263,105 pledges discount 36,784

Financial Statement Notes

Schedule D, Page 3, Part X

Hollenbeck palms has evaluated its tax positions and the certainty as to whether those postions will be sustained in the event of an audit by taxing authorities at the federal and state levels. The primary tax positions evaluated are related to the continued qualification as a tax-exempt organization and whether there are unrelated business income activities conducted that would be taxable. Management has determined that all income tax positions are more likely than not (greater than 50%) of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required.

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IRS990/Form990PartVIISectionAGrp/TitleTxt12ADMISSIONS D
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IRS990/MissionDesc0HOLLENBECK PALMS IS COMMITTED TO PROVIDING A RESIDENCE FOR THOSE IN THE LATER YEARS OF THEIR LIVES THAT ENCOMPASSES A HEALTHY ENVIRONMENT OF COMFORT, SAFETY, AND ENJOYMENT; THAT ATTENDS TO THEIR PHYSICAL, MENTAL, AND SPIRITUAL NEEDS; AND THAT IS QUICK TO RESPOND TO AND ASSIST IN THOSE NEEDS WHETHER IMMEDIATE OR LONG TERM, AND TO DO SO WITH GREAT COMPASSION, HONESTY, DIGNITY AND GENUINE LOVE.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$86.2$39.2$47.0$26.5$25.7$0.75
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$87.8$41.4$46.4$25.0$23.7$1.27
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$86.8$41.9$45.0$21.5$20.5$0.98
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$91.6$40.9$50.7$22.4$19.9$2.45
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$83.6$41.9$41.6$18.3$18.8$0.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$85.5$39.7$45.8$17.2$17.6$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$86.1$40.0$46.1$18.8$17.2$1.53
2017Detailed filing. Detailed filing data is available for this year.$85.4$40.2$45.3$17.3$17.4$0.13
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$87.2$42.4$44.8$18.4$17.4$0.99
2015Detailed filing. Detailed filing data is available for this year.$88.6$45.1$43.5$17.7$16.7$0.99
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$80.3$36.1$44.3$17.6$16.3$1.29
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$78.1$37.6$40.5$20.2$16.1$4.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.4$41.7$33.6$16.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.1$43.0$33.0$15.6