MID-Peninsula the Farm Inc.

990 • Fiscal year 2013 • EIN 77-0283355

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 13, 2014

Organization Profile N/A

303 Vintage Park Drive No 25094404

(650) 356-2900

Siviq Scores

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

0.55x

Higher debt load relative to assets than 76% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

13.96x

Higher debt load relative to revenue than 97% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

22%

Higher net margin than 79% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

$409,984

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 123.7% of source-year revenue.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

-15%

Faster asset growth than 6% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2013

No value available

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

Source year 2013

Balance Sheet

Liabilities / Assets76th percentile

Assets

Down

$8,416,923

Down $1,474,525 (-15%) from 2012

Net Assets

$3,788,034

Up $73,339 (+2.0%) from 2012

Liabilities

Down

$4,628,889

Down $1,547,864 (-25%) from 2012

Revenue And Expenses

Liabilities / Revenue97th percentile Net Margin79th percentile

Revenue

$331,502

No earlier filing loaded for comparison.

Expenses

Down

$258,163

Down $84,777 (-25%) from 2012

Net Income

$73,339

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

Highlighted filing

2013

Assets$8,416,923

Liabilities$4,628,889

Net Assets$3,788,034

Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

Highlighted filing

2013

Revenue$331,502

Expenses$258,163

Net Income$73,339

Open 2013 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2013 to Dec 31, 2013
Signed: Nov 13, 2014
Return Version: 2013v3.0
Gross Receipts: $331,502

Mission and Program Overview

Mission

It is the mission of mid-peninsula the farm inc and its subsidiaries to develop and provide safe, affordable housing for the communities it serves; to help establish opportunity and stability in the lives of its residents; and to foster communities that allow people from all ethnic, social and economic backgrounds to live in dignity, harmony and mutual respect.

In conjunction with related organizations, midpen housing corporation's mission is to provide safe, affordable housing of high quality to those in need; to establish stability and opportunity in the lives of residents; and to foster diverse communities that allow people from all ethnic, social and economic backgrounds to live in dignity, harmony and mutual respect.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Investments Program Related	$3,601,656	$3,937,683	▲ $336,027
Accounts Receivable	$1,102,917	$521,726	▼ $581,191
Other Notes and Loans Receivable, Net	-	$255,564	-
Savings and Temporary Cash Investments	$575,440	$154,092	▼ $421,348
Cash and Non-Interest-Bearing Accounts	$1,673,865	$94,939	▼ $1,578,926
Total Assets	$9,891,448	$8,416,923	▼ $1,474,525
Other Assets Total	$2,937,570	$3,452,919	▲ $515,349
Liabilities
Other Liabilities	$1,756,283	$2,435,187	▲ $678,904
Mortgage Notes Payable Secured by Investment Property	$4,355,542	$2,056,592	▼ $2,298,950
Accounts Payable and Accrued Expenses	$64,928	$137,110	▲ $72,182
Total Liabilities	$6,176,753	$4,628,889	▼ $1,547,864
Net Assets / Fund Balance
Unrestricted Net Assets	$3,714,695	$3,788,034	▲ $73,339
Total Net Assets Fund Balance	$3,714,695	$3,788,034	▲ $73,339
Total Liabilities and Net Assets / Fund Balance	$9,891,448	$8,416,923	▼ $1,474,525

Asset Categories

Asset	Book Value	Depreciation	Basis
Investment Program Related Org	$86,408	-	-
Other Assets Org	$3,452,919	-	-

Compensation and Service Providers

Top Officer Pay92nd percentile

Board Members and Trustees

Name	Title
Cheryl Quay	President
Anita Valdez	Director
Eduardo Franco	Director
Kevin Sharps	Director
Serena Ip	Director
Jan Lindenthal	Assistant Secretary
Mari Tustin	Assistant Secretary
Matthew O Franklin	Assistant Secretary
Debra Sobeck	Secretary/treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $250,000
Program Service Revenue: $80,888
Investment Income: $614
Other Revenue: $0
Change in Net Assets: $73,339

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Salaries, Compensation, and Employee Benefits	$212,513
Other Expenses	$45,650
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Other Salaries and Wages	$176,094	-	-	$176,094
Other Employee Benefits	$25,220	-	-	$25,220
Fees for Services Accounting	-	$21,176	-	$21,176
Payroll Taxes	$11,199	-	-	$11,199
Interest	$7,350	-	-	$7,350
Other Expenses	$549	-	-	$549
Office Expenses	$14	-	-	$14
Total Functional Expenses	$236,987	$21,176	$0	$258,163

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
94-2910860	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-2791688	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
77-0164512	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-3297850	-	To Support Developing & Operating Affordable Housing for Low Inc Persons	501(c)(3)	Line 11a, I	No
77-0151312	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
77-0132850	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
23-7089977	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
94-1738105	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
94-2090479	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
77-0316333	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
77-0325449	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
94-3188698	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
23-7349437	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
77-0047939	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-2556973	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-3239542	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3198805	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
77-0262053	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
94-3188806	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
77-0292344	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3292584	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3346915	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11b, Ii	No
94-3197473	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
77-0295718	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
77-0283619	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-3234468	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
77-0469649	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
77-0430914	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
77-0313112	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3197474	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
77-0323473	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
94-3346280	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11b, Ii	No
77-0185730	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3253425	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11b, Ii	No
77-0222294	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
77-0232941	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
77-0234676	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 9	No
77-0199866	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11b, Ii	No
77-0280070	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-3225882	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3234317	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-3228212	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3319924	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3382075	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-3253673	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 11a, I	No
94-1747752	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
77-0058052	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No
94-3291257	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(2)	N/a	No
77-0066443	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	PF	No
77-0066498	-	To Provide Affordable Housing for Low Income Individuals and Families	501(c)(3)	Line 7	No

Related Partnerships and Joint Ventures

Organization	Location	Activity	Income	Assets	Ownership	Managing Partner
45-5623896	-	To Provide Affordable Housing for Low Income Individuals and Families	$-17	$18,794,343	0.01%	Yes
77-0288393	-	To Provide Affordable Housing for Low Income Individuals and Families	$-446,763	$11,593,913	0.01%	Yes
46-0893466	-	To Provide Affordable Housing for Low Income Individuals and Families	$-1	$10,585,596	0.01%	Yes
77-0199078	-	To Provide Affordable Housing for Low Income Individuals and Families	$-4,004	$2,156,853	51%	Yes
77-0325450	-	To Provide Affordable Housing for Low Income Individuals and Families	$33,566	$1,702,220	0.01%	Yes
94-3254614	-	To Provide Affordable Housing for Low Income Individuals and Families	$17,688	$1,642,797	0.01%	Yes
86-1096849	-	To Provide Affordable Housing for Low Income Individuals and Families	$11,977	$969,551	0.01%	Yes
27-1080806	-	To Provide Affordable Housing for Low Income Individuals and Families	$14,927	$358,129	0.01%	Yes
77-0323314	-	To Provide Affordable Housing for Low Income Individuals and Families	$-87	$3,308	0.01%	Yes
77-0292945	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3225883	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-0984174	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-2662148	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3231236	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3363820	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
77-0294887	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-1128572	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
77-0323472	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-3345954	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
56-2676936	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
56-2676938	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3234778	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
45-0651105	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
71-0990643	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3213101	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3346317	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
77-0251433	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3346919	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
27-4816717	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-2980615	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3457125	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3292585	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
26-3474067	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3366881	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3297661	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3228467	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
55-0916775	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
36-4608203	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
65-1249653	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
71-1030335	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
56-2299898	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
74-3071458	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3234472	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3361618	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3287958	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3324853	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
87-0750877	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3366885	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3366887	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3329955	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
84-1719102	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3253429	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3275464	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
27-2933010	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
26-3339253	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
45-3690931	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3366888	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
56-2329976	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3366889	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3457129	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
27-1929544	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
20-3868901	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-3857247	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
45-4998304	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3385703	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
77-0292950	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3213104	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3382077	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3382078	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-4077571	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3253674	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3191465	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3146236	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
27-1339674	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
94-3303620	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
46-2662148	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-	-
77-0546772	-	To Provide Affordable Housing for Low Income Individuals and Families	$-800	$-701	99%	Yes

Disregarded Entities

Entity	Location	Activity	Income	Assets	Controller
-	-	To Provide Affordable Housing for Low Income Individuals and Families	$250,002	$250,002	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	$558	$46,832	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	$15,000	$41,250	-
47-0883863	-	To Provide Affordable Housing for Low Income Individuals and Families	$0	$0	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-
-	-	To Provide Affordable Housing for Low Income Individuals and Families	-	-	-

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Related Party Payables	$2,435,187

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Annual disclosure for covered persons: Yes
Audit committee: 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: Yes
Key decisions subject to board approval: No
Management duties delegated: Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Management duties of the farm, inc. Have been delegated to midpen housing property management corporation.”

Form 990, Part VI, Section B, Line 11

“The corporate assistant controller completes the 990 questionnaire received from the tax accountants and assembles all supporting documentation. Then the controller reviews the questionnaires and supporting documentation. The controller will return the questionnaires to the corporate assistant controller with questions or comments. Once the questions and comments have been addressed, the questionnaires will be sent to the independent tax accountants. After the tax accountants complete the return, the cfo and controller will conduct a detail review of the return. The return is then sent to the president for review. The 990 then goes to the members of the audit committee for review and approval. The return is also sent to each board member for their review and comments prior to filing.”

Form 990, Part VI, Section B, Line 12C

“A conflict of interest disclosure questionnaire is submitted annually to the board of directors and key employees, who complete and return the forms disclosing any conditions of potential or actual conflict of interest. The disclosures are reviewed by the corporate counsel and the cfo. A summary of the disclosures is presented to the governance committee, which assesses if any conflict of interest actually exists. Any conditions which warrant elevation to the board of directors is done so on a case-by-case basis. As of the reporting date, there has been no reportable conditions of conflict of interest.”

Form 990, Part VI, Section B, Line 15

“The vp of human resources prepares compensation information and independent survey data for review and discussion with the governance committee of the board of directors, and then again for the board executive session. The vp of human resources makes a recommendation to the governance committee based on the survey data (governance committee completes the president's annual performance evaluation before any compensation is discussed), and the committee take their recommendation forward to the board for approval. The only executive compensation reviewed and approved by the board is the president and cfo.”

Form 990, Part VI, Section C, Line 19

“The documents are available for public inspection upon request.”

Filing and Contact Details

Filer

EIN: 77-0283355
Phone: 6503562900

Signing Officer

Name: Arthur Fatum
Title: Assistant Secretary
Phone: 6503562900
Signed: 2014-11-13

Organization Details

Principal Officer: Matthew O Franklin
Formed: 1991
Legal Domicile: CA
Voting Board Members: 4
Independent Board Members: 4
Employees: 0
Volunteers: 0

Preparer

Preparer: Alexis H Wong CPA
Phone: 4159579999

Supplemental Narrative

Additional Explanations

Form 990, Part V, Lines 2A & 2B

“The organization has no employees. Salaries and wages reported in part ix, functional expenses were reimbursements to midpen property management corporation. The amount was listed to conform with the requirements of federal and/or state regulatory agencies and/or lenders on audited financial statements.”

Form 990,part XII, Line 2C

“There were no changes in the process from prior year.”

Financial Statement Notes

PART X, LINE 2:

“The corporation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the combined financial statements. The federal and state income tax returns for the years 2009 through 2012 are subject to examination by regulatory agencies, generally for three years and four years after they were filed for federal and state, respectively.”

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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt	0	137110
IRS990/AccountsReceivableGrp/BOYAmt	0	1102917
IRS990/AccountsReceivableGrp/EOYAmt	0	521726
IRS990/ActivitiesConductedPrtshpInd	0	0
IRS990/ActivityOrMissionDesc	0	IN CONJUNCTION WITH RELATED ORGANIZATIONS, MIDPEN HOUSING CORPORATION'S MISSION IS TO PROVIDE SAFE, AFFORDABLE HOUSING OF HIGH QUALITY TO THOSE IN NEED; TO ESTABLISH STABILITY AND OPPORTUNITY IN THE LIVES OF RESIDENTS; AND TO FOSTER DIVERSE COMMUNITIES THAT ALLOW PEOPLE FROM ALL ETHNIC, SOCIAL AND ECONOMIC BACKGROUNDS TO LIVE IN DIGNITY, HARMONY AND MUTUAL RESPECT.
IRS990/AnnualDisclosureCoveredPrsnInd	0	1
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IRS990/MissionDesc	0	IN CONJUNCTION WITH RELATED ORGANIZATIONS, MIDPEN HOUSING CORPORATION'S MISSION IS TO PROVIDE SAFE, AFFORDABLE HOUSING OF HIGH QUALITY TO THOSE IN NEED; TO ESTABLISH STABILITY AND OPPORTUNITY IN THE LIVES OF RESIDENTS; AND TO FOSTER DIVERSE COMMUNITIES THAT ALLOW PEOPLE FROM ALL ETHNIC, SOCIAL AND ECONOMIC BACKGROUNDS TO LIVE IN DIGNITY, HARMONY AND MUTUAL RESPECT.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	0	THE CORPORATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE COMBINED FINANCIAL STATEMENTS. THE FEDERAL AND STATE INCOME TAX RETURNS FOR THE YEARS 2009 THROUGH 2012 ARE SUBJECT TO EXAMINATION BY REGULATORY AGENCIES, GENERALLY FOR THREE YEARS AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt	3	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt	0	2322
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt	1	953
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt	2	1242
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt	3	810
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	0	DEBRA SOBECK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	1	KEVIN SHARPS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	2	JAN LINDENTHAL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	3	MATTHEW O FRANKLIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	0	SECRETARY/TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	1	DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	2	ASSISTANT SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	3	ASSISTANT SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	0	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	1	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	2	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt	3	0
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	0	197595
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	1	174781
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	2	288111
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	3	409984
IRS990ScheduleJ/SeverancePaymentInd	0	0
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd	0	0
IRS990/ScheduleORequiredInd	0	1
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	THE ORGANIZATION HAS NO EMPLOYEES. SALARIES AND WAGES REPORTED IN PART IX, FUNCTIONAL EXPENSES WERE REIMBURSEMENTS TO MIDPEN PROPERTY MANAGEMENT CORPORATION. THE AMOUNT WAS LISTED TO CONFORM WITH THE REQUIREMENTS OF FEDERAL AND/OR STATE REGULATORY AGENCIES AND/OR LENDERS ON AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	MANAGEMENT DUTIES OF THE FARM, INC. HAVE BEEN DELEGATED TO MIDPEN HOUSING PROPERTY MANAGEMENT CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	THE CORPORATE ASSISTANT CONTROLLER COMPLETES THE 990 QUESTIONNAIRE RECEIVED FROM THE TAX ACCOUNTANTS AND ASSEMBLES ALL SUPPORTING DOCUMENTATION. THEN THE CONTROLLER REVIEWS THE QUESTIONNAIRES AND SUPPORTING DOCUMENTATION. THE CONTROLLER WILL RETURN THE QUESTIONNAIRES TO THE CORPORATE ASSISTANT CONTROLLER WITH QUESTIONS OR COMMENTS. ONCE THE QUESTIONS AND COMMENTS HAVE BEEN ADDRESSED, THE QUESTIONNAIRES WILL BE SENT TO THE INDEPENDENT TAX ACCOUNTANTS. AFTER THE TAX ACCOUNTANTS COMPLETE THE RETURN, THE CFO AND CONTROLLER WILL CONDUCT A DETAIL REVIEW OF THE RETURN. THE RETURN IS THEN SENT TO THE PRESIDENT FOR REVIEW. THE 990 THEN GOES TO THE MEMBERS OF THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. THE RETURN IS ALSO SENT TO EACH BOARD MEMBER FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	A CONFLICT OF INTEREST DISCLOSURE QUESTIONNAIRE IS SUBMITTED ANNUALLY TO THE BOARD OF DIRECTORS AND KEY EMPLOYEES, WHO COMPLETE AND RETURN THE FORMS DISCLOSING ANY CONDITIONS OF POTENTIAL OR ACTUAL CONFLICT OF INTEREST. THE DISCLOSURES ARE REVIEWED BY THE CORPORATE COUNSEL AND THE CFO. A SUMMARY OF THE DISCLOSURES IS PRESENTED TO THE GOVERNANCE COMMITTEE, WHICH ASSESSES IF ANY CONFLICT OF INTEREST ACTUALLY EXISTS. ANY CONDITIONS WHICH WARRANT ELEVATION TO THE BOARD OF DIRECTORS IS DONE SO ON A CASE-BY-CASE BASIS. AS OF THE REPORTING DATE, THERE HAS BEEN NO REPORTABLE CONDITIONS OF CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	THE VP OF HUMAN RESOURCES PREPARES COMPENSATION INFORMATION AND INDEPENDENT SURVEY DATA FOR REVIEW AND DISCUSSION WITH THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS, AND THEN AGAIN FOR THE BOARD EXECUTIVE SESSION. THE VP OF HUMAN RESOURCES MAKES A RECOMMENDATION TO THE GOVERNANCE COMMITTEE BASED ON THE SURVEY DATA (GOVERNANCE COMMITTEE COMPLETES THE PRESIDENT'S ANNUAL PERFORMANCE EVALUATION BEFORE ANY COMPENSATION IS DISCUSSED), AND THE COMMITTEE TAKE THEIR RECOMMENDATION FORWARD TO THE BOARD FOR APPROVAL. THE ONLY EXECUTIVE COMPENSATION REVIEWED AND APPROVED BY THE BOARD IS THE PRESIDENT AND CFO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	5	THE DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	6	THERE WERE NO CHANGES IN THE PROCESS FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990, PART V, LINES 2A & 2B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	6	FORM 990,PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd	0	0
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd	0	0
IRS990ScheduleR/AssetSaleToOtherOrgInd	0	0

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $8,416,923
Liabilities: $4,628,889
Net assets: $3,788,034
Revenue: $331,502
Expenses: $258,163
Net income: $73,339

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$16.3	$11.5	$4.80	$1.72	$2.42	$0.70
2023Detailed filing. Detailed filing data is available for this year.	$15.3	$9.80	$5.50	$1.69	$1.08	$0.61
2022Detailed filing. Detailed filing data is available for this year.	$15.0	$10.1	$4.89	$1.09	$1.61	$0.52
2021Detailed filing. Detailed filing data is available for this year.	$14.4	$9.02	$5.41	$0.74	$1.82	$1.09
2020Detailed filing. Detailed filing data is available for this year.	$14.6	$8.14	$6.49	$8.00	$8.85	$0.84
2019Detailed filing. Detailed filing data is available for this year.	$15.1	$7.81	$7.34	$1.75	$2.02	$0.27
2018Detailed filing. Detailed filing data is available for this year.	$14.8	$7.16	$7.61	$4.24	$0.82	$3.42
2017Detailed filing. Detailed filing data is available for this year.	$11.0	$6.84	$4.19	$2.30	$0.60	$1.70
2016Detailed filing. Detailed filing data is available for this year.	$10.2	$7.68	$2.48	$2.56	$0.55	$2.01
2015Detailed filing. Detailed filing data is available for this year.	$11.8	$11.3	$0.48	$3.19	$0.47	$2.72
2014Detailed filing. Detailed filing data is available for this year.	$10.7	$13.0	$2.24	$0.60	$0.60	$0.01
2013Detailed filing. Detailed filing data is available for this year.	$8.42	$4.63	$3.79	$0.33	$0.26	$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$9.89	$6.18	$3.71		$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.	$15.1	$11.0	$4.08		$1.63
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.	$7.60	$4.16	$3.44		$0.26