Civic Intelligence

Ocean View Foundation DBA Ocean View Plaza

990 • Fiscal year 2023 • EIN 94-1665936

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 26, 2024

Organization ProfileWWW.LESLEYFOUNDATION.ORG
701 Arnold WayHalf Moon Bay, CA 94019

(650) 726-4888

Siviq Scores

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

Liabilities / Assets

94th percentile

1.00x

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

5.98x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

61st percentile

9.3%

Higher net margin than 61% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

80th percentile

$223,850

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 15.4% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

27th percentile

-1.3%

Faster asset growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

44th percentile

3.2%

Faster revenue growth than 44% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$8,749,091

Down $116,857 (-1.3%) from 2022

Net Assets

Up

$37,964

Up $136,054 (+139%) from 2022

Liabilities

Down

$8,711,127

Down $252,911 (-2.8%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin61st percentile

Revenue

Up

$1,457,282

Up $45,006 (+3.2%) from 2022

Expenses

Up

$1,321,228

Up $50,245 (+4.0%) from 2022

Net Income

Down

$136,054

Down $5,239 (-3.7%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$10M$5.0M$0-$5.0MAssets 2010: $518,389Liabilities 2010: $178,453Net Assets 2010: $339,9362010Assets 2011: $516,241Liabilities 2011: $168,604Net Assets 2011: $347,6372011Assets 2012: $518,642Liabilities 2012: $181,119Net Assets 2012: $337,5232012Assets 2013: $484,924Liabilities 2013: $218,001Net Assets 2013: $266,9232013Assets 2014: $707,472Liabilities 2014: $454,091Net Assets 2014: $253,3812014Assets 2015: $2,399,053Liabilities 2015: $2,230,112Net Assets 2015: $168,9412015Assets 2016: $7,597,541Liabilities 2016: $7,519,939Net Assets 2016: $77,6022016Assets 2017: $9,880,191Liabilities 2017: $9,901,415Net Assets 2017: -$21,2242017Assets 2018: $9,474,838Liabilities 2018: $9,617,906Net Assets 2018: -$143,0682018Assets 2019: $9,117,799Liabilities 2019: $9,452,591Net Assets 2019: -$334,7922019Assets 2020: $8,890,007Liabilities 2020: $9,304,145Net Assets 2020: -$414,1382020Assets 2021: $8,971,988Liabilities 2021: $9,211,371Net Assets 2021: -$239,3832021Assets 2022: $8,865,948Liabilities 2022: $8,964,038Net Assets 2022: -$98,0902022Assets 2023: $8,749,091Liabilities 2023: $8,711,127Net Assets 2023: $37,9642023Assets 2024: $8,512,549Liabilities 2024: $8,292,323Net Assets 2024: $220,2262024

Highlighted filing

2023

Assets$8,749,091
Liabilities$8,711,127
Net Assets$37,964
Open 2023 Filing

Operations Trend

Revenue Growth44th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $276,354Expenses 2010: $224,098Net Income 2010: $52,2562010Revenue 2011: $277,386Expenses 2011: $269,685Net Income 2011: $7,7012011Revenue 2012: $289,552Expenses 2012: $299,666Net Income 2012: -$10,1142012Revenue 2013: $289,420Expenses 2013: $360,020Net Income 2013: -$70,6002013Revenue 2014: $304,212Expenses 2014: $317,754Net Income 2014: -$13,5422014Revenue 2015: $288,451Expenses 2015: $372,891Net Income 2015: -$84,4402015Revenue 2016: $248,259Expenses 2016: $339,598Net Income 2016: -$91,3392016Revenue 2017: $827,685Expenses 2017: $1,105,320Net Income 2017: -$277,6352017Revenue 2018: $931,675Expenses 2018: $1,053,519Net Income 2018: -$121,8442018Revenue 2019: $936,293Expenses 2019: $1,128,017Net Income 2019: -$191,7242019Revenue 2020: $1,061,719Expenses 2020: $1,141,065Net Income 2020: -$79,3462020Revenue 2021: $1,379,588Expenses 2021: $1,204,833Net Income 2021: $174,7552021Revenue 2022: $1,412,276Expenses 2022: $1,270,983Net Income 2022: $141,2932022Revenue 2023: $1,457,282Expenses 2023: $1,321,228Net Income 2023: $136,0542023Revenue 2024: $1,481,415Expenses 2024: $1,299,153Net Income 2024: $182,2622024

Highlighted filing

2023

Revenue$1,457,282
Expenses$1,321,228
Net Income$136,054
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 26, 2024
Return Version
2023v5.1
Gross Receipts
$1,457,282
Mission and Program Overview

Mission

The organization's mission is to provide quality, affordable housing for senior citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,273,531$8,059,457▼ $214,074
Cash and Non-Interest-Bearing Accounts$212,135$367,217▲ $155,082
Prepaid Expenses and Deferred Charges$74,997$75,363▲ $366
Accounts Receivable-$302-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$8,865,948$8,749,091▼ $116,857
Other Assets Total$305,285$246,752▼ $58,533
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,975,333$7,862,573▼ $112,760
Other Liabilities$934,927$801,180▼ $133,747
Accounts Payable and Accrued Expenses$53,778$47,374▼ $6,404
Total Liabilities$8,964,038$8,711,127▼ $252,911
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-98,090$37,964▲ $136,054
Total Net Assets Fund Balance$-98,090$37,964▲ $136,054
Total Liabilities and Net Assets / Fund Balance$8,865,948$8,749,091▼ $116,857

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,994,500$2,009,889$10,004,389
Land$51,465-$51,465
Equipment$13,492$7,709$21,201
Compensation and Service Providers
Top Officer Pay80th percentile

Board Members and Trustees

NameTitle
Sue WinksPresident
Tony VillanuevaVice President
Catherine EvansExecutive Director
Nancy AmayaDeputy E.d.
Bernadette MellottMember
Michael KimMember
Naomi PatridgeMember
Linda AvelarSecretary
Sandy CouncilTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,101,784
Program Service Revenue
$351,939
Investment Income
$3,559
Other Revenue
$0
All Other Contributions
$952
Change in Net Assets
$136,054

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,457,282
Revenue Not Reported on Form 990
$7,320
Total Revenue per Audited Statements
$1,464,602
Total Revenue per Form 990
$1,457,282
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,157,821
Salaries, Compensation, and Employee Benefits$163,407
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$349,210--$349,210
Depreciation Depletion$245,289--$245,289
Occupancy$129,729--$129,729
Other Salaries and Wages$45,195$75,490-$120,685
Office Expenses-$38,196-$38,196
Fees for Services Management-$37,200-$37,200
Other Expenses$32,604--$32,604
Other Employee Benefits$10,081$16,840-$26,921
Fees for Services Accounting-$20,930-$20,930
Payroll Taxes$3,476$5,805-$9,281
Pension Plan Contributions$2,442$4,078-$6,520
Total Functional Expenses$1,122,689$198,539$0$1,321,228

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,328,548
Expenses per Audited Statements$1,321,228
Total Expenses per Form 990$1,321,228
Expenses Not Reported on Form 990$7,320
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Related Party Note$759,766
Tenant Security Deposits$23,686
Related Party Note Accrued Interest$17,728
Governance and Compliance

Governance Checklist

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

“A draft of the form is distributed to the board of directors for approval prior to submission.”

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

“Organization receives signed document from members that certifies no conflicts of interest occurred.”

Form 990, Part VI, Section B, Line 15B

“The Organization has a policy that requires the analysis of compensation of the Executive Director on at least an annual basis. The salary shall be compared to equivalent organizations based on mission, budget size, job description and demands, or other factors specified by the Board of Directors. Based on the analysis, the Board shall conclude on whether the Executive Director's compensation is appropriate. Such analysis shall be documented and filed in the Corporation's records.”

Form 990, Part VI, Section C, Line 19

“The financial statements, governing documents, and policies are all available upon request.”

Filing and Contact Details

Filer

Filer Name
Ocean View Foundation
EIN
94-1665936
Phone
6507264888
Address
701 ARNOLD WAY, HALF MOON BAY, CA 94019

Signing Officer

Name
Catherine Evans
Title
Executive Director
Signed
2024-06-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Catherine Evans
Formed
1968
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Doran & Associates
Address
70 MITCHELL BLVD Ste 102, San Rafael, CA 94903
Preparer
Lisa Doran CPA
Phone
4154911130
Supplemental Narrative

Additional Explanations

PART I, LINE 5, Part V, Lines 1 & 2, & PART IX, LINES 7, 9, 10

“The ocean view foundation utilizes the contractors and staff of a related party, the lesley foundation. On an ongoing basis, the ocean view foundation reimburses the lesley foundation for contractor payments and staff payroll and benefit costs. All required payroll tax remittance and reporting is performed by the lesley foundation.”

Financial Statement Notes

Part X : FIN48 Footnote

“ASC 740-10, Accounting for Uncertainty in Income Taxes - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Corporation to report information regarding its exposure to various tax positions taken by the Corporation. The Corporation has determined whether any tax positions have met the recognition threshold and has measured the Corporation's exposure to those tax positions. Management believes that the Corporation has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed (four years for California). Any interest or penalties assessed to the Corporation are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.”

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IRS990/OtherExpensesGrp/Desc1TAXES AND INSURANCE
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IRS990/OtherExpensesGrp/ProgramServicesAmt263228
IRS990/OtherExpensesGrp/ProgramServicesAmt332604
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IRS990/PrincipalOfficerNm0CATHERINE EVANS
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IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
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IRS990/ReconcilationRevenueExpnssAmt0136054
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01069937
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0781686
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0651130
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IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0408
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt02626
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0351939
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0325561
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0309634
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0275810
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0282471
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01545415
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01439
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt017
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0408
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt02626
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt08049
IRS990ScheduleA/InvestmentIncomeCYPct00.00130
IRS990ScheduleA/InvestmentIncomePYPct00.00120
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.99870
IRS990ScheduleA/PublicSupportPY509Pct00.99880
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01057496
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0933601
IRS990ScheduleA/Total509Grp/TotalAmt06235228
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01457282
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01412276
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01379588
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01057904
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0936227
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06243277
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02009889
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt07320
IRS990ScheduleD/DonatedServicesUseFcltsAmt07320
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt07709
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt021201
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RELATED PARTY NOTE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RELATED PARTY NOTE ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT SECURITY DEPOSITS
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IRS990ScheduleD/RevenueSubtotalAmt01457282
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ASC 740-10, Accounting for Uncertainty in Income Taxes - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Corporation to report information regarding its exposure to various tax positions taken by the Corporation. The Corporation has determined whether any tax positions have met the recognition threshold and has measured the Corporation's exposure to those tax positions. Management believes that the Corporation has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed (four years for California). Any interest or penalties assessed to the Corporation are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,749,091
Liabilities
$8,711,127
Net assets
$37,964
Revenue
$1,457,282
Expenses
$1,321,228
Net income
$136,054
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.51$8.29$0.22$1.48$1.30$0.18
2023Detailed filing. Detailed filing data is available for this year.$8.75$8.71$0.04$1.46$1.32$0.14
2022Detailed filing. Detailed filing data is available for this year.$8.87$8.96$0.10$1.41$1.27$0.14
2021Detailed filing. Detailed filing data is available for this year.$8.97$9.21$0.24$1.38$1.20$0.17
2020Detailed filing. Detailed filing data is available for this year.$8.89$9.30$0.41$1.06$1.14$0.08
2019Detailed filing. Detailed filing data is available for this year.$9.12$9.45$0.33$0.94$1.13$0.19
2018Detailed filing. Detailed filing data is available for this year.$9.47$9.62$0.14$0.93$1.05$0.12
2017Detailed filing. Detailed filing data is available for this year.$9.88$9.90$0.02$0.83$1.11$0.28
2016Detailed filing. Detailed filing data is available for this year.$7.60$7.52$0.08$0.25$0.34$0.09
2015Detailed filing. Detailed filing data is available for this year.$2.40$2.23$0.17$0.29$0.37$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.71$0.45$0.25$0.30$0.32$0.01
2013Summary only. Only limited summary data is available for this year.$0.48$0.22$0.27$0.29$0.36$0.07
2012Summary only. Only limited summary data is available for this year.$0.52$0.18$0.34$0.29$0.30$0.01
2011Summary only. Only limited summary data is available for this year.$0.52$0.17$0.35$0.28$0.27$0.01
2010Summary only. Only limited summary data is available for this year.$0.52$0.18$0.34$0.28$0.22$0.05