Civic Intelligence

Midpen Community Land Trust

EIN 87-2560166 • 501(c)3 • Foster City, CA

Profile

In conjunction with related organizations, midpen community land trust'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; and to serve as a community land trust as defined in california revenue and taxation code section 214.18.

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

94th percentile

1.01x

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

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

Liabilities / Revenue

100th percentile

206150.11x

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

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

Net Margin

1st percentile

-45363%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $1M-$5M 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

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2024

Assets

Up

$3,874,958

Up $3,874,958 from 2023

Liabilities

Up

$3,916,852

Up $3,883,577 (+11671%) from 2023

Net Assets

Down

-$41,894

Down $8,619 (-26%) from 2023

Revenue

Up

$19

Up $19 from 2023

Expenses

Down

$8,638

Down $9,315 (-52%) from 2023

Net Income

Up

-$8,619

Up $9,334 (+52%) 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$0-$1.0MAssets 2021: $0Liabilities 2021: $1,750Net Assets 2021: -$1,7502021Assets 2023: $0Liabilities 2023: $33,275Net Assets 2023: -$33,2752023Assets 2024: $3,874,958Liabilities 2024: $3,916,852Net Assets 2024: -$41,8942024

Highlighted filing

2024

Assets$3,874,958
Liabilities$3,916,852
Net Assets-$41,894

Operations Trend

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

$20K$10K$0-$10K-$20KRevenue 2021: $0Expenses 2021: $1,750Net Income 2021: -$1,7502021Revenue 2023: $0Expenses 2023: $17,953Net Income 2023: -$17,9532023Revenue 2024: $19Expenses 2024: $8,638Net Income 2024: -$8,6192024

Highlighted filing

2024

Revenue$19
Expenses$8,638
Net Income-$8,619

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 11, 2025
Return Version
2024v5.2
Gross Receipts
$19
Mission and Program Overview

Mission

In conjunction with related organizations, midpen community land trust'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; and to serve as a community land trust as defined in california revenue and taxation code section 214.18.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$2,458▲ $2,458
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-33,275$-41,894▼ $8,619
Total Assets$0$3,874,958▲ $3,874,958
Other Assets Total$0$3,872,500▲ $3,872,500
Liabilities
Other Liabilities$29,720$3,911,547▲ $3,881,827
Accounts Payable and Accrued Expenses$3,555$5,305▲ $1,750
Total Liabilities$33,275$3,916,852▲ $3,883,577
Net Assets / Fund Balance
Total Net Assets Fund Balance$-33,275$-41,894▼ $8,619
Total Liabilities and Net Assets / Fund Balance$0$3,874,958▲ $3,874,958

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,872,500--
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
$0
Investment Income
$19
Other Revenue
$0
Change in Net Assets
$-8,619
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,638
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$5,309--$5,309
Fees for Services Accounting-$1,805-$1,805
Other Expenses$20--$20
Total Functional Expenses$6,833$1,805$0$8,638
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
Construction Advance Pay$3,911,547
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

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Midpen Community Land Trust
EIN
87-2560166
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
2025-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew O Franklin
Formed
2021
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 Park 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.

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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/FormationYr02021
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IRS990/MissionDesc0IN CONJUNCTION WITH RELATED ORGANIZATIONS, MIDPEN COMMUNITY LAND TRUST'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; AND TO SERVE AS A COMMUNITY LAND TRUST AS DEFINED IN CALIFORNIA REVENUE AND TAXATION CODE SECTION 214.18.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
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IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt03872500
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0TAXES AND FEES
IRS990/OtherExpensesGrp/Desc1MISC. FINANCIAL EXPENSE
IRS990/OtherExpensesGrp/Desc2MISC. LICENSES/PERMITS/
IRS990/OtherExpensesGrp/ProgramServicesAmt0800
IRS990/OtherExpensesGrp/ProgramServicesAmt1704
IRS990/OtherExpensesGrp/ProgramServicesAmt220
IRS990/OtherExpensesGrp/TotalAmt0800
IRS990/OtherExpensesGrp/TotalAmt1704
IRS990/OtherExpensesGrp/TotalAmt220
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IRS990/OtherLiabilitiesGrp/EOYAmt03911547
IRS990/OtherWebsiteInd0X
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MATTHEW O FRANKLIN
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CIP LAND COST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03911547
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONSTRUCTION ADVANCE PAY
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 FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount70
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt192025
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt24000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt310350
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt410100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt5350
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