Civic Intelligence

MID-Peninsula Page MILL Court Inc

EIN 77-0430914 • 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

www.midpen-housing.org

Siviq Scores

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

Liabilities / Assets

71st percentile

0.25x

Higher debt load relative to assets than 71% of similar nonprofits.

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

Liabilities / Revenue

93rd percentile

2.30x

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

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

Net Margin

10th percentile

-33%

Higher net margin than 10% 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 242.2% of source-year revenue.

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

Asset Growth

32nd percentile

-2.1%

Faster asset growth than 32% of similar nonprofits.

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

Revenue Growth

26th percentile

-7.4%

Faster revenue growth than 26% of similar nonprofits.

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

Assets

Down

$2,742,302

Down $57,993 (-2.1%) from 2023

Liabilities

Up

$680,560

Up $38,862 (+6.1%) from 2023

Net Assets

Down

$2,061,742

Down $96,855 (-4.5%) from 2023

Revenue

Down

$295,746

Down $23,642 (-7.4%) from 2023

Expenses

Down

$392,601

Down $42,875 (-9.8%) from 2023

Net Income

Up

-$96,855

Up $19,233 (+17%) from 2023

Trend Graphs

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $3,194,316Liabilities 2010: $446,794Net Assets 2010: $2,747,5222010Assets 2011: $3,366,068Liabilities 2011: $650,942Net Assets 2011: $2,715,1262011Assets 2012: $3,115,745Liabilities 2012: $518,929Net Assets 2012: $2,596,8162012Assets 2013: $3,037,632Liabilities 2013: $495,852Net Assets 2013: $2,541,7802013Assets 2014: $2,996,351Liabilities 2014: $512,320Net Assets 2014: $2,484,0312014Assets 2015: $2,954,938Liabilities 2015: $531,616Net Assets 2015: $2,423,3222015Assets 2016: $2,907,329Liabilities 2016: $529,242Net Assets 2016: $2,378,0872016Assets 2017: $2,864,224Liabilities 2017: $548,235Net Assets 2017: $2,315,9892017Assets 2018: $2,804,941Liabilities 2018: $560,374Net Assets 2018: $2,244,5672018Assets 2019: $2,773,671Liabilities 2019: $604,719Net Assets 2019: $2,168,9522019Assets 2020: $2,708,194Liabilities 2020: $610,286Net Assets 2020: $2,097,9082020Assets 2021: $3,200,817Liabilities 2021: $801,404Net Assets 2021: $2,399,4132021Assets 2022: $2,904,895Liabilities 2022: $630,210Net Assets 2022: $2,274,6852022Assets 2023: $2,800,295Liabilities 2023: $641,698Net Assets 2023: $2,158,5972023Assets 2024: $2,742,302Liabilities 2024: $680,560Net Assets 2024: $2,061,7422024

Highlighted filing

2024

Assets$2,742,302
Liabilities$680,560
Net Assets$2,061,742

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $273,6242010Expenses 2011: $304,0322011Expenses 2012: $313,2562012Revenue 2013: $265,889Expenses 2013: $320,925Net Income 2013: -$55,0362013Revenue 2014: $269,271Expenses 2014: $327,020Net Income 2014: -$57,7492014Revenue 2015: $267,607Expenses 2015: $328,316Net Income 2015: -$60,7092015Revenue 2016: $273,205Expenses 2016: $318,440Net Income 2016: -$45,2352016Revenue 2017: $257,466Expenses 2017: $319,564Net Income 2017: -$62,0982017Revenue 2018: $265,163Expenses 2018: $336,585Net Income 2018: -$71,4222018Revenue 2019: $255,157Expenses 2019: $330,772Net Income 2019: -$75,6152019Revenue 2020: $281,930Expenses 2020: $352,974Net Income 2020: -$71,0442020Revenue 2021: $664,314Expenses 2021: $362,809Net Income 2021: $301,5052021Revenue 2022: $228,148Expenses 2022: $352,876Net Income 2022: -$124,7282022Revenue 2023: $319,388Expenses 2023: $435,476Net Income 2023: -$116,0882023Revenue 2024: $295,746Expenses 2024: $392,601Net Income 2024: -$96,8552024

Highlighted filing

2024

Revenue$295,746
Expenses$392,601
Net Income-$96,855

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.74$0.68$2.06$0.30$0.39$0.10
2023Detailed filing. Detailed filing data is available for this year.$2.80$0.64$2.16$0.32$0.44$0.12
2022Detailed filing. Detailed filing data is available for this year.$2.90$0.63$2.27$0.23$0.35$0.12
2021Detailed filing. Detailed filing data is available for this year.$3.20$0.80$2.40$0.66$0.36$0.30
2020Detailed filing. Detailed filing data is available for this year.$2.71$0.61$2.10$0.28$0.35$0.07
2019Detailed filing. Detailed filing data is available for this year.$2.77$0.60$2.17$0.26$0.33$0.08
2018Detailed filing. Detailed filing data is available for this year.$2.80$0.56$2.24$0.27$0.34$0.07
2017Detailed filing. Detailed filing data is available for this year.$2.86$0.55$2.32$0.26$0.32$0.06
2016Detailed filing. Detailed filing data is available for this year.$2.91$0.53$2.38$0.27$0.32$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.95$0.53$2.42$0.27$0.33$0.06
2014Detailed filing. Detailed filing data is available for this year.$3.00$0.51$2.48$0.27$0.33$0.06
2013Detailed filing. Detailed filing data is available for this year.$3.04$0.50$2.54$0.27$0.32$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.12$0.52$2.60$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.37$0.65$2.72$0.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$0.45$2.75$0.27
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 23, 2025
Return Version
2024v5.2
Gross Receipts
$304,127
Mission and Program Overview

Mission

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
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,434,197$2,367,061▼ $67,136
Savings and Temporary Cash Investments$56,332$6,060▼ $50,272
Accounts Receivable$1,196$1,280▲ $84
Prepaid Expenses and Deferred Charges$145$0▼ $145
Total Assets$2,800,295$2,742,302▼ $57,993
Other Assets Total$308,425$367,901▲ $59,476
Liabilities
Other Liabilities$363,499$381,198▲ $17,699
Mortgage Notes Payable Secured by Investment Property$238,000$238,000→ $0
Accounts Payable and Accrued Expenses$31,777$55,393▲ $23,616
Deferred Revenue$8,422$5,969▼ $2,453
Total Liabilities$641,698$680,560▲ $38,862
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,158,597$2,061,742▼ $96,855
Total Net Assets Fund Balance$2,158,597$2,061,742▼ $96,855
Total Liabilities and Net Assets / Fund Balance$2,800,295$2,742,302▼ $57,993

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,269,776$1,854,452$3,124,228
Land$1,097,088-$1,097,088
Equipment$197$63,752$63,949
Other Assets Org$20,832--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Lance SmithVP/corp. Counsel & Broker/asst. Secretary$375,051$375,051

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 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/corp. Counsel & Broker/asst. Secr
Revenue and Support

Revenue Composition

Contributions and Grants
$159,408
Program Service Revenue
$128,162
Investment Income
$8,176
Other Revenue
$0
Change in Net Assets
$-96,855

Audited Revenue Reconciliation

Revenue per Audited Statements
$295,746
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$8,381
Total Revenue per Audited Statements
$304,127
Total Revenue per Form 990
$295,746
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$334,291
Salaries, Compensation, and Employee Benefits$58,310
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$109,834--$109,834
Other Salaries and Wages$44,811--$44,811
Office Expenses$20,756--$20,756
Fees for Services Management-$20,736-$20,736
All Other Expenses$19,880--$19,880
Insurance$14,159--$14,159
Fees for Services Accounting-$13,331-$13,331
Interest$12,780--$12,780
Other Expenses$11,820--$11,820
Other Employee Benefits$10,012--$10,012
Payroll Taxes$3,487--$3,487
Conferences and Meetings$103--$103
Total Functional Expenses$358,534$34,067$0$392,601

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$400,982
Expenses per Audited Statements$392,601
Total Expenses per Form 990$392,601
Expenses Not Reported on Form 990$8,381
Expenses Not Reported on Financial Statements$0
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
Interest Payable$363,165
Security Deposit$11,846
Related Party Payable$6,187
Governance and Compliance

Governance Checklist

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

Governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Mid-peninsula Page Mill Court Inc
EIN
77-0430914
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
2025-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael J Vergura
Formed
1996
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
1255 TREAT BLVD SUITE 410, WALNUT CREEK, CA 94597
Preparer
Eric Barnett
Phone
9259494300
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 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 agency and/or lender on audited financial statements.

FORM 990,PART XII,LINE 2C:

The process of overseeing the audit and selecting an independent accountant has not changed from the 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 financial statements. The corporation's federal and state information 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.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets 8,381.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets 8,381.

Raw XML AppendixShowing 400 of 3,031 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/ActivityOrMissionDesc0IN 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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