Civic Intelligence

Cornerstone Housing for Adults with Disabilities

EIN 84-2737310 • 501(c)3 • North Hollywood, CA

Profile

To provide adult living for those who have intellectual & developmental disabilities. Currently in the development stage of developing living structure.

13034 Saticoy StNorth Hollywood, CA 91605

www.thecornerstonevillage.org

Siviq Scores

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

Liabilities / Assets

66th percentile

0.40x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

25.82x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

3rd percentile

-125%

Higher net margin than 3% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

74th percentile

14%

Faster asset growth than 74% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-88%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$44,558,817

Up $5,474,206 (+14%) from 2023

Liabilities

Up

$17,843,612

Up $6,336,146 (+55%) from 2023

Net Assets

Down

$26,715,205

Down $861,940 (-3.1%) from 2023

Revenue

Down

$691,067

Down $4,989,542 (-88%) from 2023

Expenses

Up

$1,553,007

Up $490,502 (+46%) from 2023

Net Income

Down

-$861,940

Down $5,480,044 (-119%) from 2023

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2020: $19,176,060Liabilities 2020: $9,898,344Net Assets 2020: $9,277,7162020Assets 2021: $21,843,953Liabilities 2021: $9,639,701Net Assets 2021: $12,204,2522021Assets 2022: $32,943,869Liabilities 2022: $9,836,426Net Assets 2022: $23,107,4432022Assets 2023: $39,084,611Liabilities 2023: $11,507,466Net Assets 2023: $27,577,1452023Assets 2024: $44,558,817Liabilities 2024: $17,843,612Net Assets 2024: $26,715,2052024

Highlighted filing

2024

Assets$44,558,817
Liabilities$17,843,612
Net Assets$26,715,205

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2020: $9,617,908Expenses 2020: $340,192Net Income 2020: $9,277,7162020Revenue 2021: $3,466,322Expenses 2021: $539,786Net Income 2021: $2,926,5362021Revenue 2022: $11,507,131Expenses 2022: $603,940Net Income 2022: $10,903,1912022Revenue 2023: $5,680,609Expenses 2023: $1,062,505Net Income 2023: $4,618,1042023Revenue 2024: $691,067Expenses 2024: $1,553,007Net Income 2024: -$861,9402024

Highlighted filing

2024

Revenue$691,067
Expenses$1,553,007
Net Income-$861,940

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$691,067
Mission and Program Overview

Mission

To provide adult living for those who have intellectual & developmental disabilities. Currently in the development stage of developing living structure.

To provide adult living for those who have intellectual & developmental disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,187,276$36,432,579▲ $12,245,303
Savings and Temporary Cash Investments$8,712,887$4,403,459▼ $4,309,428
Pledges and Grants Receivable$5,792,507$3,366,127▼ $2,426,380
Cash and Non-Interest-Bearing Accounts$194,543$181,574▼ $12,969
Accounts Receivable$96,531$122,820▲ $26,289
Prepaid Expenses and Deferred Charges$1,118$661▼ $457
Total Assets$39,084,611$44,558,817▲ $5,474,206
Other Assets Total$99,749$51,597▼ $48,152
Liabilities
Tax Exempt Bond Liabilities$9,570,939$14,814,467▲ $5,243,528
Accounts Payable and Accrued Expenses$790,683$1,801,600▲ $1,010,917
Mortgage Notes Payable Secured by Investment Property$1,055,582$1,185,435▲ $129,853
Other Liabilities$90,262$42,110▼ $48,152
Total Liabilities$11,507,466$17,843,612▲ $6,336,146
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,474,994$21,317,230▲ $1,842,236
Net Assets With Donor Restrictions$8,102,151$5,397,975▼ $2,704,176
Total Net Assets Fund Balance$27,577,145$26,715,205▼ $861,940
Total Liabilities and Net Assets / Fund Balance$39,084,611$44,558,817▲ $5,474,206

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$24,539,836-$24,539,836
Land$11,892,743-$11,892,743
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kambiz BabaoffPresident
Avi RyzmanDirector
Jonathan M GlaserDirector
Stephen DarrisonDirector
Steve SavitskyDirector
Dr Michael HeldExecutive Director
Scott KriegerSecretary
Eric SchwartzTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Tikva-etta & Lazear Israel Ctr For The DNon-profit Management Services13034 SATICOY STREET, North Hollywood, CA 91605$969,546
Urban Architecture LabArchitectural Design1657 ALVIRA STREET 2ND FLOOR, Los Angeles, CA 90035$244,087
Ilya Veyts INCProperty Management Services4240 FULTON AVENUE 110, Studio City, CA 91604$182,678
Revenue and Support

Revenue Composition

Contributions and Grants
$388,475
Program Service Revenue
$0
Investment Income
$243,023
Other Revenue
$59,569
All Other Contributions
$388,475
Change in Net Assets
$-861,940

Audited Revenue Reconciliation

Revenue per Audited Statements
$632,193
Revenue Not Reported on Financial Statements
$58,874
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$58,874
Total Revenue per Audited Statements
$632,193
Total Revenue per Form 990
$691,067
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,553,007
Total Fundraising Expense$440,871
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$549,290$317,833$439,698$1,306,821
Fees for Services Accounting-$78,721-$78,721
Fees for Services Legal-$66,176-$66,176
Occupancy$52,009--$52,009
Fees for Services Other-$32,720-$32,720
Travel-$5,299-$5,299
Advertising-$5,048-$5,048
Information Technology-$3,130-$3,130
Insurance$1,118--$1,118
Other Expenses-$594$1,173$594
Office Expenses-$198-$198
Total Functional Expenses$602,417$509,719$440,871$1,553,007

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,553,007
Total Expenses per Form 990$1,553,007
Total Expenses per Audited Statements$1,494,133
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$-58,874
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-See Part VSee Part VNo$94,500
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$42,110

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Enterprise Development Authority2023-04-14$35,000,000Construction of the village apartment community for those with disabilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$35,000,000$9,600,000--

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 35% controlled entity
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Cornerstone housing for adults with disabilities ("chad") has a shared services agreement with tikvah-etta and lazear israel center for the developmentally disabled, an unrelated california non-profit corporation doing business as etta. Through the agreement etta and etta's employees may provide administrative services, including, but not limited to, accounting, financial reporting, human resources, legal, meeting planning, government relations and communications. In addition, etta's employees may provide non-profit management services, including support for activities of the board of directors of cornerstone. Under this shared services agreement, chad reimbursed etta $292,984.86 for payroll-related expenses associated with the management services provided by dr. Michael held in his role as executive director for chad.

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

The organization's form 990 is reviewed by the board treasurer. Once all necessary changes are made a copy is given to the board of directors prior to filing the form 990.

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

All directors are required to comply with cornerstone housing's conflict of interest policy. Any conflicts of interests will be addressed by the governing body.

Form 990, Part VI, Section C, Line 19

The organization's articles of incorporation, by-laws, and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
Cornerstone Housing for Adults With
EIN
84-2737310
Phone
8189853882
Address
13034 SATICOY ST, NORTH HOLLYWOOD, CA 91605

Signing Officer

Name
Dr Michael Held
Title
Executive Director
Phone
8189853882
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Michael Held
Formed
2019
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Cbiz Advisors LLC
Address
4722 N 24TH ST STE 300, PHOENIX, AZ 85016
Preparer
Kristen M Bass
Phone
6022646835
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization is designated as tax-exempt under internal revenue code section 501(c)(3), is exempt from state franchise taxes under section 23701(d) of the california revenue and taxation code, and is not generally subject to federal or state income taxes. However, the organization is subject to income taxes on any net income that is derived from a trade or business regularly carried on and not in furtherance of the purposes for which it was granted exemption. The organization adopted financial accounting standards board ("fasb") asc topic no. 740, accounting for uncertainty in income taxes ("asc 740"). In accordance with asc 740, the organization recognizes the impact of tax positions in the financial statements if that position is more likely than not of being sustained on audit, based on the technical merits of the position. To date, the organization has not recorded any uncertain tax positions. The organization recognizes the potential accrued interest and penalties related to uncertain tax positions in income tax expense. The organization is subject to potential income tax audits on open tax years by any taxing jurisdiction in which it operates. The statute of limitations for federal purposes is three years and for california is four years.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Bad debt recovery 58,874.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Bad debt recovery -58,874.

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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt019474994
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt021317230
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt052009
IRS990/OccupancyGrp/TotalAmt052009
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0198
IRS990/OfficeExpensesGrp/TotalAmt0198
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt099749
IRS990/OtherAssetsTotalGrp/EOYAmt051597
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MERCHANT FEES
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSE
IRS990/OtherExpensesGrp/FundraisingAmt01173
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0594
IRS990/OtherExpensesGrp/TotalAmt01173
IRS990/OtherExpensesGrp/TotalAmt1594
IRS990/OtherLiabilitiesGrp/BOYAmt090262
IRS990/OtherLiabilitiesGrp/EOYAmt042110
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0BAD DEBT RECOVERY
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt058874
IRS990/OtherRevenueMiscGrp/ExclusionAmt1695
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt058874
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1695
IRS990/OtherRevenueTotalAmt059569
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt05792507
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt03366127
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01118
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0661
IRS990/PrincipalOfficerNm0DR MICHAEL HELD
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05270854
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0332186
IRS990/PYOtherExpensesAmt01062505
IRS990/PYOtherRevenueAmt077569
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt04618104
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01062505
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05680609
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-861940
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08712887
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04403459
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt05000000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt01600000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt01540000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt05750000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt013890000
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0BAD DEBT RECOVERY - 2023 AMOUNT: $ 24,563. 2024 AMOUNT: $ 58,874. OTHER INCOME - 2024 AMOUNT: $ 695.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0388475
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt05270854
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt012205195
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt03458465
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt09607890
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt030930879
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0243023
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0332186
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt035906
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt07857
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt010018
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0628990
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0243023
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0367814
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt056561
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt07857
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt010018
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0685273
IRS990ScheduleA/InvestmentIncomeCYPct00.02160
IRS990ScheduleA/InvestmentIncomePYPct00.01430
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt059569
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt024563
IRS990ScheduleA/OtherIncome509Grp/TotalAmt084132
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearAmt00
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus1YearAmt035628
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus2YearsAmt020655
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt056283
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.53760
IRS990ScheduleA/PublicSupportPY509Pct00.53700
IRS990ScheduleA/PublicSupportTotal509Amt017040879
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt05000000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt01600000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt01540000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt05750000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt013890000
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0388475
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt05270854
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt012205195
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt03458465
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt09607890
IRS990ScheduleA/Total509Grp/TotalAmt030930879
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0691067
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt05663231
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt012261756
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt03466322
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt09617908
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt031700284
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt0-58874
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01553007
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt011892743
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt011892743
IRS990ScheduleD/OtherExpensesIncludedAmt0-58874
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt024539836
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt024539836
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt042110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY
IRS990ScheduleD/OtherRevenuesNotIncludedAmt058874
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt058874
IRS990ScheduleD/RevenueSubtotalAmt0632193
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS DESIGNATED AS TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), IS EXEMPT FROM STATE FRANCHISE TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE, AND IS NOT GENERALLY SUBJECT TO FEDERAL OR STATE INCOME TAXES. HOWEVER, THE ORGANIZATION IS SUBJECT TO INCOME TAXES ON ANY NET INCOME THAT IS DERIVED FROM A TRADE OR BUSINESS REGULARLY CARRIED ON AND NOT IN FURTHERANCE OF THE PURPOSES FOR WHICH IT WAS GRANTED EXEMPTION. THE ORGANIZATION ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ASC TOPIC NO. 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ("ASC 740"). IN ACCORDANCE WITH ASC 740, THE ORGANIZATION RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE ORGANIZATION HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. THE ORGANIZATION RECOGNIZES THE POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE. THE ORGANIZATION IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS THREE YEARS AND FOR CALIFORNIA IS FOUR YEARS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BAD DEBT RECOVERY 58,874.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2BAD DEBT RECOVERY -58,874.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt036432579
IRS990ScheduleD/TotalExpensesPerForm990Amt01553007
IRS990ScheduleD/TotalLiabilityAmt042110
IRS990ScheduleD/TotalRevenuePerForm990Amt0691067
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0632193
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01494133
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0IN APRIL 2023, THE ORGANIZATION ENTERED INTO A TAX-EXEMPT DELAYED DRAW LOAN AGREEMENT WITH A TOTAL LOAN COMMITMENT OF $35,000,000. THE CONSTRUCTION PERIOD ENDS JULY 31, 2025 AT WHICH TIME THE DELAYED DRAW PERIOD CLOSES AND THE LOAN AMORTIZATION SCHEDULE WILL BE DETERMINED. TOTAL DRAWS ON THE LOAN AMOUNTED TO $15,057,047, ALL OF WHICH IS OUTSTANDING AS OF DECEMBER 31, 2024.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE K, PART I
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02023-04-14
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0352273601
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt035000000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0CONSTRUCTION OF THE VILLAGE APARTMENT COMMUNITY FOR THOSE WITH DISABILITIES
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00

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