Civic Intelligence

MID-Peninsula San Carlos Corp

EIN 77-0323473 • 501(c)3 • Foster City, CA

Profile

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.

303 Vintage Park Drive 250Foster City, CA 94404

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

100th percentile

8.49x

Higher debt load relative to assets than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

100th percentile

54.04x

Higher debt load relative to revenue than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

1st percentile

-843%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

99th percentile

$716,168

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 422.3% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

72nd percentile

13%

Faster asset growth than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

80th percentile

41%

Faster revenue growth than 80% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,078,906

Up $126,673 (+13%) from 2023

Liabilities

Up

$9,164,566

Up $1,556,738 (+20%) from 2023

Net Assets

Down

-$8,085,660

Down $1,430,065 (-21%) from 2023

Revenue

Up

$169,604

Up $49,242 (+41%) from 2023

Expenses

Up

$1,599,669

Up $66,347 (+4.3%) from 2023

Net Income

Down

-$1,430,065

Down $17,105 (-1.2%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0-$5.0M-$10MAssets 2011: $316,953Liabilities 2011: $824,561Net Assets 2011: -$507,6082011Assets 2012: $352,075Liabilities 2012: $989,373Net Assets 2012: -$637,2982012Assets 2013: $417,994Liabilities 2013: $749,523Net Assets 2013: -$331,5292013Assets 2014: $487,121Liabilities 2014: $138,203Net Assets 2014: $348,9182014Assets 2015: $526,963Liabilities 2015: $500,241Net Assets 2015: $26,7222015Assets 2016: $615,797Liabilities 2016: $1,271,988Net Assets 2016: -$656,1912016Assets 2017: $656,796Liabilities 2017: $1,996,550Net Assets 2017: -$1,339,7542017Assets 2018: $720,270Liabilities 2018: $2,795,087Net Assets 2018: -$2,074,8172018Assets 2019: $770,546Liabilities 2019: $3,473,819Net Assets 2019: -$2,703,2732019Assets 2020: $4,470,803Liabilities 2020: $7,784,498Net Assets 2020: -$3,313,6952020Assets 2021: $5,854,998Liabilities 2021: $9,967,443Net Assets 2021: -$4,112,4452021Assets 2022: $884,376Liabilities 2022: $6,127,011Net Assets 2022: -$5,242,6352022Assets 2023: $952,233Liabilities 2023: $7,607,828Net Assets 2023: -$6,655,5952023Assets 2024: $1,078,906Liabilities 2024: $9,164,566Net Assets 2024: -$8,085,6602024

Highlighted filing

2024

Assets$1,078,906
Liabilities$9,164,566
Net Assets-$8,085,660

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2011: $24,603Expenses 2011: $107,049Net Income 2011: -$82,4462011Revenue 2012: $35,332Expenses 2012: $165,022Net Income 2012: -$129,6902012Revenue 2013: $63,958Expenses 2013: $154,474Net Income 2013: -$90,5162013Revenue 2014: $1,086,830Expenses 2014: $406,383Net Income 2014: $680,4472014Revenue 2015: $203,113Expenses 2015: $525,309Net Income 2015: -$322,1962015Revenue 2016: $75,743Expenses 2016: $758,656Net Income 2016: -$682,9132016Revenue 2017: $80,318Expenses 2017: $763,881Net Income 2017: -$683,5632017Revenue 2018: $84,905Expenses 2018: $819,968Net Income 2018: -$735,0632018Revenue 2019: $97,633Expenses 2019: $726,089Net Income 2019: -$628,4562019Revenue 2020: $114,185Expenses 2020: $724,607Net Income 2020: -$610,4222020Revenue 2021: $103,720Expenses 2021: $902,470Net Income 2021: -$798,7502021Revenue 2022: $108,725Expenses 2022: $1,238,915Net Income 2022: -$1,130,1902022Revenue 2023: $120,362Expenses 2023: $1,533,322Net Income 2023: -$1,412,9602023Revenue 2024: $169,604Expenses 2024: $1,599,669Net Income 2024: -$1,430,0652024

Highlighted filing

2024

Revenue$169,604
Expenses$1,599,669
Net Income-$1,430,065

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$9.16$8.09$0.17$1.60$1.43
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$7.61$6.66$0.12$1.53$1.41
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$6.13$5.24$0.11$1.24$1.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.85$9.97$4.11$0.10$0.90$0.80
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.47$7.78$3.31$0.11$0.72$0.61
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$3.47$2.70$0.10$0.73$0.63
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$2.80$2.07$0.08$0.82$0.74
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.66$2.00$1.34$0.08$0.76$0.68
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.62$1.27$0.66$0.08$0.76$0.68
2015Detailed filing. Detailed filing data is available for this year.$0.53$0.50$0.03$0.20$0.53$0.32
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.14$0.35$1.09$0.41$0.68
2013Detailed filing. Detailed filing data is available for this year.$0.42$0.75$0.33$0.06$0.15$0.09
2012Summary only. Only limited summary data is available for this year.$0.35$0.99$0.64$0.04$0.17$0.13
2011Summary only. Only limited summary data is available for this year.$0.32$0.82$0.51$0.02$0.11$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$169,604
Mission and Program Overview

Mission

In conjuction with related organizations, mid-peninsula san carlos 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.

In conjunction with related organizations, mid-peninsula san carlos 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
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$26,554$18,837▼ $7,717
Accounts Receivable$26$26→ $0
Total Assets$952,233$1,078,906▲ $126,673
Other Assets Total$925,653$1,060,043▲ $134,390
Liabilities
Other Liabilities$7,593,340$9,130,808▲ $1,537,468
Accounts Payable and Accrued Expenses$14,488$33,758▲ $19,270
Total Liabilities$7,607,828$9,164,566▲ $1,556,738
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-6,655,595$-8,085,660▼ $1,430,065
Total Net Assets Fund Balance$-6,655,595$-8,085,660▼ $1,430,065
Total Liabilities and Net Assets / Fund Balance$952,233$1,078,906▲ $126,673

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$10,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Eric HarrisonChairperson
Matthew O FranklinCEO/president/asst. Secret
Jessica Garcia-kohlVice Chairperson
Chan U LeeDirector
Elisa De Laet JagersonDirector
Fay Sien GoonDirector
Jennifer HicksDirector
Jonathan FearnDirector
Melanie MockDirector
Renee McdonnellDirector
Stephanie SonnenshineDirector
Terry FreemanDirector
Yusef FreemanDirector
Abigail Goldware PotluriAssistant Secretary
Joanna L CarmanAssistant Secretary
Kasey ArcheyAssistant Secretary
Michael J VerguraCFO / Assistant Secretary
Ann Goggins GregoryCOO / Assistant Secretary
Janine LindCOO / Assistant Secretary
Jennifer MartinezSecretary
Enrique TorresTreasurer
Lance SmithVP/corporate Counsel & Broker/ Asst.
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$167,987
Investment Income
$1,617
Other Revenue
$0
Change in Net Assets
$-1,430,065
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,413,000
Other Expenses$186,669
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,413,000--$1,413,000
Fees for Services Accounting-$5,375-$5,375
Other Expenses$653--$653
Total Functional Expenses$1,594,294$5,375$0$1,599,669
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Midpen Housing CorporationFoster City, CA501(c)(3)To Support the Affiliate in Providing Affordable Housing.$1,413,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Investment in Partnerships - Deficit Capital$9,120,808
L/t Advances Payable$10,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The tax accounting manager completes the 990 questionnaire and accumulates all supporting documentation. The questionnaire is sent to the tax professionals for their preparation of the tax returns. The draft 990 tax return goes through the review of the tax accounting manager. Upon the chief financial officer's approval, the tax return is filed with the internal revenue service.

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 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 on a case-by-case basis. As of the reporting date, there has been no reportable condition of conflict of interest.

Form 990, Part VI, Section B, Line 15

Data from an external compensation survey is reviewed and discussed with the bod.

Form 990, Part VI, Section C, Line 19

Documents available upon request.

Filing and Contact Details

Filer

Filer Name
Mid-peninsula San Carlos Corp
EIN
77-0323473
Phone
6503562900
Address
303 VINTAGE PARK DRIVE 250, FOSTER CITY, CA 94404

Signing Officer

Name
Michael J Vergura
Title
CFO/assistant Secretary
Phone
6503562900
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew O Franklin
Formed
1992
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
1435 N MCDOWELL BLVD SUITE 350, PETALUMA, CA 94954
Preparer
Lance Smith
Phone
4152236130
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2

There is no change 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 of midpen housing corporation and affiliates. The federal and state income tax returns for the years 2020 through 2023 are subject to examination by regulatory agencies, generally for three years and four years after they were filed for federal and state, respectively.

Raw XML AppendixShowing 400 of 3,096 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0IN CONJUNCTION WITH RELATED ORGANIZATIONS, MID-PENINSULA SAN CARLOS 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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IRS990/Form990PartVIISectionAGrp/PersonNm15MICHAEL J VERGURA
IRS990/Form990PartVIISectionAGrp/PersonNm16JANINE LIND
IRS990/Form990PartVIISectionAGrp/PersonNm17ANN GOGGINS GREGORY
IRS990/Form990PartVIISectionAGrp/PersonNm18LANCE SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm19ABIGAIL GOLDWARE POTLURI
IRS990/Form990PartVIISectionAGrp/PersonNm20KASEY ARCHEY
IRS990/Form990PartVIISectionAGrp/PersonNm21JOANNA L CARMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14CEO/PRESIDENT/ASST. SECRET
IRS990/Form990PartVIISectionAGrp/TitleTxt15CFO / ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt16COO / ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt17COO / ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP/CORPORATE COUNSEL & BROKER/ ASST.
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt20ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt21ASSISTANT SECRETARY
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IRS990/MissionDesc0IN CONJUCTION WITH RELATED ORGANIZATIONS, MID-PENINSULA SAN CARLOS 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/OtherAssetsOrgGrp/Desc1ASSET MANAGEMENT FEE RECEIVABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INVESTMENT IN PARTNERSHIPS - DEFICIT CAPITAL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1L/T ADVANCES PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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 OF MIDPEN HOUSING CORPORATION AND AFFILIATES. THE FEDERAL AND STATE INCOME TAX RETURNS FOR THE YEARS 2020 THROUGH 2023 ARE SUBJECT TO EXAMINATION BY REGULATORY AGENCIES, GENERALLY FOR THREE YEARS AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)

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