Civic Intelligence

Surf Development Company Inc.

990 • Fiscal year 2022 • EIN 77-0201747

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

PO Box 2146Lompoc, CA 93438

(805) 736-3423

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.55x

Higher debt load relative to assets than 82% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

3.88x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

10th percentile

-30%

Higher net margin than 10% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

77th percentile

$203,815

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 19.1% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

73rd percentile

14%

Faster asset growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

14th percentile

-28%

Faster revenue growth than 14% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$7,543,447

Up $899,892 (+14%) from 2021

Net Assets

Down

$3,400,414

Down $323,739 (-8.7%) from 2021

Liabilities

Up

$4,143,033

Up $1,223,631 (+42%) from 2021

Revenue

Down

$1,068,431

Down $410,489 (-28%) from 2021

Expenses

Up

$1,392,170

Up $4,661 (+0.3%) from 2021

Net Income

Down

-$323,739

Down $415,150 (-454%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $3,095,461Liabilities 2011: $1,792,942Net Assets 2011: $1,302,5192011Assets 2012: $4,113,876Liabilities 2012: $2,306,745Net Assets 2012: $1,807,1312012Assets 2013: $4,926,522Liabilities 2013: $2,877,745Net Assets 2013: $2,048,7772013Assets 2014: $5,492,134Liabilities 2014: $3,178,825Net Assets 2014: $2,313,3092014Assets 2015: $5,306,608Liabilities 2015: $2,722,592Net Assets 2015: $2,584,0162015Assets 2016: $5,450,157Liabilities 2016: $2,067,597Net Assets 2016: $3,382,5602016Assets 2017: $6,304,874Liabilities 2017: $2,685,630Net Assets 2017: $3,619,2442017Assets 2018: $6,219,715Liabilities 2018: $2,412,711Net Assets 2018: $3,807,0042018Assets 2019: $6,201,057Liabilities 2019: $2,459,050Net Assets 2019: $3,742,0072019Assets 2020: $6,671,409Liabilities 2020: $3,038,667Net Assets 2020: $3,632,7422020Assets 2021: $6,643,555Liabilities 2021: $2,919,402Net Assets 2021: $3,724,1532021Assets 2022: $7,543,447Liabilities 2022: $4,143,033Net Assets 2022: $3,400,4142022Assets 2023: $9,092,440Liabilities 2023: $4,797,803Net Assets 2023: $4,294,6372023Assets 2024: $10,961,430Liabilities 2024: $6,016,900Net Assets 2024: $4,944,5302024

Highlighted filing

2022

Assets$7,543,447
Liabilities$4,143,033
Net Assets$3,400,414

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $243,527Expenses 2011: $262,738Net Income 2011: -$19,2112011Revenue 2012: $778,728Expenses 2012: $274,116Net Income 2012: $504,6122012Revenue 2013: $593,017Expenses 2013: $351,371Net Income 2013: $241,6462013Revenue 2014: $597,017Expenses 2014: $332,485Net Income 2014: $264,5322014Revenue 2015: $631,803Expenses 2015: $361,096Net Income 2015: $270,7072015Revenue 2016: $1,135,686Expenses 2016: $337,142Net Income 2016: $798,5442016Revenue 2017: $756,625Expenses 2017: $530,066Net Income 2017: $226,5592017Revenue 2018: $831,358Expenses 2018: $643,598Net Income 2018: $187,7602018Revenue 2019: $767,790Expenses 2019: $832,787Net Income 2019: -$64,9972019Revenue 2020: $913,568Expenses 2020: $1,022,833Net Income 2020: -$109,2652020Revenue 2021: $1,478,920Expenses 2021: $1,387,509Net Income 2021: $91,4112021Revenue 2022: $1,068,431Expenses 2022: $1,392,170Net Income 2022: -$323,7392022Revenue 2023: $2,532,281Expenses 2023: $1,638,058Net Income 2023: $894,2232023Revenue 2024: $2,535,448Expenses 2024: $1,885,555Net Income 2024: $649,8932024

Highlighted filing

2022

Revenue$1,068,431
Expenses$1,392,170
Net Income-$323,739
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.1
Gross Receipts
$1,068,431
Mission and Program Overview

Mission

Provide housing for low income, individuals, families, elderly, and disable persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,866,506$3,544,985▲ $1,678,479
Land, Buildings, and Equipment, Net$3,446,049$3,429,432▼ $16,617
Cash and Non-Interest-Bearing Accounts$1,256,697$495,149▼ $761,548
Investments Program Related$49,200$48,986▼ $214
Prepaid Expenses and Deferred Charges$18,713$17,055▼ $1,658
Accounts Receivable$2,584$4,507▲ $1,923
Intangible Assets$3,806$3,331▼ $475
Savings and Temporary Cash Investments-$0-
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-
Total Assets$6,643,555$7,543,447▲ $899,892
Other Assets Total-$2-
Liabilities
Deferred Revenue$1,143,406$1,840,591▲ $697,185
Mortgage Notes Payable Secured by Investment Property$1,512,564$1,488,392▼ $24,172
Accounts Payable and Accrued Expenses$242,969$792,682▲ $549,713
Other Liabilities$20,463$21,368▲ $905
Total Liabilities$2,919,402$4,143,033▲ $1,223,631
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,774,153$2,450,414▼ $323,739
Net Assets With Donor Restrictions$950,000$950,000→ $0
Total Net Assets Fund Balance$3,724,153$3,400,414▼ $323,739
Total Liabilities and Net Assets / Fund Balance$6,643,555$7,543,447▲ $899,892

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,422,403$1,398,401$2,820,804
Land$1,432,804-$1,432,804
Other Land Buildings$544,541$30,284$574,825
Equipment$21,676$38,192$59,868
Leasehold Improvements$8,008$8,420$16,428
Investment Program Related Org$48,986--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Milton E JohnsSenior Project ManFT$203,815$203,815
Larry K DeeseSenior Project ManFT$169,544$169,544
Mark W CromerProject ManagerFT$146,188$146,188
Nancy L WesoffDirector of ContractFT$140,352$140,352

Board Members and Trustees

NameTitle
Raymond F DownPresident
Mark PaulVice President
Glenn BachellerDirector
Lourdes EspinozaDirector
Terri ZunigaDirector
Irene MeltonCFO
Robert P Havlicek JrSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,047,842
Investment Income
$20,589
Other Revenue
$0
Change in Net Assets
$-323,739

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,068,830
Revenue Not Reported on Financial Statements
$-399
Total Revenue per Audited Statements
$1,068,830
Total Revenue per Form 990
$1,068,431
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$922,070
Other Expenses$470,100
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$476,768$208,200-$684,968
Other Employee Benefits$128,891$56,286-$185,177
Depreciation Depletion$102,028$11,974-$114,002
Fees for Services Management$17,423$90,000-$107,423
Occupancy$97,742$2,172-$99,914
Payroll Taxes$36,142$15,783-$51,925
Fees for Services Other$23,191$10,128-$33,319
Interest$28,715--$28,715
Insurance$9,474$12,553-$22,027
Fees for Services Accounting-$9,300-$9,300
Other Expenses$5,162$2,278-$7,440
Travel$3,128$1,366-$4,494
Information Technology$3,005$1,312-$4,317
Conferences and Meetings$1,462$638-$2,100
Office Expenses$1,357$594-$1,951
Advertising$92$40-$132
Fees for Services Legal-$45-$45
Total Functional Expenses$969,501$422,669$0$1,392,170

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,392,569
Total Expenses per Audited Statements$1,392,569
Total Expenses per Form 990$1,392,170
Expenses Not Reported on Financial Statements$-399
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
Tenants' Security Deposits$21,368
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, Line 11B: Form 990 Review Process

A draft copy of the tax return was reviewed by the cfo, discussed with the board of directors, and appropriate changes made. The final tax return was then prepared and approved for filing.

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

Officers and directors are required to disclose any interest that could give rise to conflicts as described by our conflict of interest policy. At least annually, the board and officers discuss any potential conflicts of interest and record in the minutes of the board meeting. To date, there have been no conflicts of interest to note.

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

Any member of the public who would like to obtain surf development company's governing documents, conflict of interest policy, and financial statements may request them in writing.

Filing and Contact Details

Filer

Filer Name
Surf Development Company Inc
EIN
77-0201747
Phone
8057363423
Address
PO BOX 2146, LOMPOC, CA 93438

Signing Officer

Name
Irene Melton
Title
CFO
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Irene Melton
Formed
1988
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
5
Volunteers
7

Preparer

Firm
Grigg Bratton & Brash PC
Address
4487 N Dresden Pl Ste 101, Boise, ID 83714
Preparer
Marshall Bratton
Phone
2083756490
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The organization is a tax-exempt organization under section 501(c)(3) of the internal revenue code and is subject to federal income tax only on net unrelated business income. The organization currently has no unrelated business income and is not considered a private foundation within the meaning of section 509(a) of the internal revenue code and all charitable contributions are considered tax deductible.

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IRS990/Form990PartVIISectionAGrp/TitleTxt3Dir. of Contract
IRS990/Form990PartVIISectionAGrp/TitleTxt4President
IRS990/Form990PartVIISectionAGrp/TitleTxt5Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt6Secretary
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt017055
IRS990/PrincipalOfficerNm0Irene Melton
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IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0Partnership Fee Income
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0624965
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1422877
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt089672
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYInvestmentIncomeAmt014273
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IRS990/PYProgramServiceRevenueAmt01374975
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-323739
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01067971
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt054000
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01047842
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt04634382
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0565936
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0450634
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt0434725
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt0563436
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt0450634
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0745520
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0827337
IRS990ScheduleA/Total509Grp/TotalAmt04964224
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0831358
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05051653

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.0$6.02$4.94$2.54$1.89$0.65
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.09$4.80$4.29$2.53$1.64$0.89
2022Detailed filing. Detailed filing data is available for this year.$7.54$4.14$3.40$1.07$1.39$0.32
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.64$2.92$3.72$1.48$1.39$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.67$3.04$3.63$0.91$1.02$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.20$2.46$3.74$0.77$0.83$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.22$2.41$3.81$0.83$0.64$0.19
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.30$2.69$3.62$0.76$0.53$0.23
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.45$2.07$3.38$1.14$0.34$0.80
2015Detailed filing. Detailed filing data is available for this year.$5.31$2.72$2.58$0.63$0.36$0.27
2014Detailed filing. Detailed filing data is available for this year.$5.49$3.18$2.31$0.60$0.33$0.26
2013Summary only. Only limited summary data is available for this year.$4.93$2.88$2.05$0.59$0.35$0.24
2012Summary only. Only limited summary data is available for this year.$4.11$2.31$1.81$0.78$0.27$0.50
2011Summary only. Only limited summary data is available for this year.$3.10$1.79$1.30$0.24$0.26$0.02
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $5M-$10M nonprofits