Civic Intelligence

La Serena Housing Development Corporation

990 • Fiscal year 2015 • EIN 94-2840358

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 04, 2015

Organization ProfileN/A
5140 W Cypress AvenueVisalia, CA 93277

(559) 627-3700

Siviq Scores

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

Liabilities / Assets

98th percentile

2.26x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

6.18x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

24th percentile

-7.6%

Higher net margin than 24% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

12th percentile

-9.9%

Faster asset growth than 12% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

21st percentile

-11%

Faster revenue growth than 21% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$1,337,310

Down $147,058 (-9.9%) from 2014

Net Assets

Down

-$1,686,291

Down $66,785 (-4.1%) from 2014

Liabilities

Down

$3,023,601

Down $80,273 (-2.6%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin24th percentile

Revenue

Down

$488,962

Down $61,701 (-11%) from 2014

Expenses

Down

$526,168

Down $156,094 (-23%) from 2014

Net Income

Up

-$37,206

Up $94,393 (+72%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2012: $1,661,126Liabilities 2012: $3,129,426Net Assets 2012: -$1,468,3002012Assets 2013: $1,691,127Liabilities 2013: $3,124,360Net Assets 2013: -$1,433,2332013Assets 2014: $1,484,368Liabilities 2014: $3,103,874Net Assets 2014: -$1,619,5062014Assets 2015: $1,337,310Liabilities 2015: $3,023,601Net Assets 2015: -$1,686,2912015Assets 2016: $1,390,493Liabilities 2016: $3,028,153Net Assets 2016: -$1,637,6602016Assets 2017: $1,098,357Liabilities 2017: $2,691,186Net Assets 2017: -$1,592,8292017Assets 2018: $1,174,573Liabilities 2018: $2,596,934Net Assets 2018: -$1,422,3612018Assets 2019: $1,176,168Liabilities 2019: $2,465,904Net Assets 2019: -$1,289,7362019Assets 2020: $1,223,283Liabilities 2020: $2,383,910Net Assets 2020: -$1,160,6272020Assets 2021: $1,291,887Liabilities 2021: $2,347,732Net Assets 2021: -$1,055,8452021Assets 2022: $1,429,747Liabilities 2022: $2,344,586Net Assets 2022: -$914,8392022Assets 2023: $1,459,525Liabilities 2023: $2,197,200Net Assets 2023: -$737,6752023Assets 2024: $1,469,243Liabilities 2024: $2,080,508Net Assets 2024: -$611,2652024Assets 2025: $1,476,607Liabilities 2025: $2,043,680Net Assets 2025: -$567,0732025

Highlighted filing

2015

Assets$1,337,310
Liabilities$3,023,601
Net Assets-$1,686,291
Open 2015 Filing

Operations Trend

Revenue Growth21st percentile

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

$1.0M$500K$0-$500KRevenue 2012: $479,645Expenses 2012: $431,411Net Income 2012: $48,2342012Expenses 2013: $468,7992013Revenue 2014: $550,663Expenses 2014: $682,262Net Income 2014: -$131,5992014Revenue 2015: $488,962Expenses 2015: $526,168Net Income 2015: -$37,2062015Revenue 2016: $516,143Expenses 2016: $466,008Net Income 2016: $50,1352016Revenue 2017: $514,268Expenses 2017: $446,488Net Income 2017: $67,7802017Revenue 2018: $540,743Expenses 2018: $370,275Net Income 2018: $170,4682018Revenue 2019: $527,137Expenses 2019: $394,512Net Income 2019: $132,6252019Revenue 2020: $534,236Expenses 2020: $405,127Net Income 2020: $129,1092020Revenue 2021: $545,762Expenses 2021: $440,980Net Income 2021: $104,7822021Revenue 2022: $548,636Expenses 2022: $407,630Net Income 2022: $141,0062022Revenue 2023: $563,231Expenses 2023: $386,067Net Income 2023: $177,1642023Revenue 2024: $523,137Expenses 2024: $396,727Net Income 2024: $126,4102024Revenue 2025: $502,043Expenses 2025: $457,851Net Income 2025: $44,1922025

Highlighted filing

2015

Revenue$488,962
Expenses$526,168
Net Income-$37,206
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 4, 2015
Return Version
2014v5.0
Gross Receipts
$488,962
Mission and Program Overview

Mission

To provide housing for the elderly and disabled persons with low and moderate income levels.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$552,052$448,997▼ $103,055
Cash and Non-Interest-Bearing Accounts$241,800$224,772▼ $17,028
Prepaid Expenses and Deferred Charges$21,970$18,108▼ $3,862
Accounts Receivable$77,518$2,582▼ $74,936
Total Assets$1,484,368$1,337,310▼ $147,058
Other Assets Total$591,028$642,851▲ $51,823
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,942,932$2,893,165▼ $49,767
Other Liabilities$152,585$121,262▼ $31,323
Accounts Payable and Accrued Expenses$8,357$9,174▲ $817
Total Liabilities$3,103,874$3,023,601▼ $80,273
Net Assets / Fund Balance
Temporarily Rstr Net Assets$591,028$642,851▲ $51,823
Unrestricted Net Assets$-2,210,534$-2,329,142▼ $118,608
Total Net Assets Fund Balance$-1,619,506$-1,686,291▼ $66,785
Total Liabilities and Net Assets / Fund Balance$1,484,368$1,337,310▼ $147,058

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$165,566$2,906,052$3,071,618
Land$250,000-$250,000
Equipment$18,026$31,809$49,835
Other Land Buildings$15,405$18,628$34,033
Other Assets Org$19,130--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Chuck KeenPresident
Steve TreeVice President
Ken KuglerSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$484,693
Investment Income
$1,063
Other Revenue
$3,206
Change in Net Assets
$-37,206

Audited Revenue Reconciliation

Revenue per Audited Statements
$488,962
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$488,962
Total Revenue per Form 990
$488,962
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$411,350
Salaries, Compensation, and Employee Benefits$114,818
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$110,553--$110,553
Depreciation Depletion$106,965--$106,965
Other Salaries and Wages$96,965--$96,965
Fees for Services Management$35,786--$35,786
All Other Expenses$28,835--$28,835
Other Employee Benefits$17,853--$17,853
Other Expenses$17,700--$17,700
Insurance$16,073--$16,073
Fees for Services Accounting$3,252--$3,252
Office Expenses$2,888--$2,888
Fees for Services Legal$1,699--$1,699
Conferences and Meetings$163--$163
Total Functional Expenses$526,168$0$0$526,168

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$526,168
Total Expenses per Audited Statements$526,168
Total Expenses per Form 990$526,168
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Other Current Liabilities$69,245
Incentive Performance Fee Payable$31,387
Tenant Security Deposits Payable$20,630
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The board acts on all matters of governance as a whole, and therefore has no committees as to organizational activities.”

Form 990, Part VI, Section B, Line 11

“The board of directors reviews the form 990 and the required schedules prior to their being filed with the irs. Once approved, the form 990 is signed and filed accordingly.”

Form 990, Part VI, Section C, Line 19

“The governing documents and financial statements are available to the general public upon request. They are also available at the organization's office during regular business hours.”

Filing and Contact Details

Filer

Filer Name
La Serena Housing Development Corporation
EIN
94-2840358
Phone
5596273700
Address
5140 W CYPRESS AVENUE, VISALIA, CA 93277

Signing Officer

Name
Chuck Keen
Title
Secretary/treasurer
Phone
5596273700
Signed
2015-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Kugler
Formed
1982
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Keller and Associates Llp
Address
18645 SHERMAN WAY SUITE 110, RESEDA, CA 91335
Preparer
David Keller
Phone
8183833079
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Accrued residual receipts distribution to owner -29,579.”

Raw XML Appendix385 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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0468827
IRS990ScheduleA/Total509Grp/TotalAmt02473375
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0488962
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0550663
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0503866
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0479645
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0475691
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02498827
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0165566
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02906052
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03071618
IRS990ScheduleD/EquipmentGrp/BookValueAmt018026
IRS990ScheduleD/EquipmentGrp/DepreciationAmt031809
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt049835
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0526168
IRS990ScheduleD/LandGrp/BookValueAmt0250000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0250000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0623721
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt119130
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS AND RESERVE ACCOUNTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015405
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt018628
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt034033
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt031387
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt169245
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt220630
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INCENTIVE PERFORMANCE FEE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0488962
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0448997
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0642851
IRS990ScheduleD/TotalExpensesPerForm990Amt0526168
IRS990ScheduleD/TotalLiabilityAmt0121262
IRS990ScheduleD/TotalRevenuePerForm990Amt0488962
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0488962
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0526168
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD ACTS ON ALL MATTERS OF GOVERNANCE AS A WHOLE, AND THEREFORE HAS NO COMMITTEES AS TO ORGANIZATIONAL ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEWS THE FORM 990 AND THE REQUIRED SCHEDULES PRIOR TO THEIR BEING FILED WITH THE IRS. ONCE APPROVED, THE FORM 990 IS SIGNED AND FILED ACCORDINGLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. THEY ARE ALSO AVAILABLE AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACCRUED RESIDUAL RECEIPTS DISTRIBUTION TO OWNER -29,579.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0591028
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0642851
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01484368
IRS990/TotalAssetsEOYAmt01337310
IRS990/TotalAssetsGrp/BOYAmt01484368
IRS990/TotalAssetsGrp/EOYAmt01337310
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0526168
IRS990/TotalFunctionalExpensesGrp/TotalAmt0526168
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03103874
IRS990/TotalLiabilitiesEOYAmt03023601
IRS990/TotalLiabilitiesGrp/BOYAmt03103874
IRS990/TotalLiabilitiesGrp/EOYAmt03023601
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1619506
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1686291
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0526168
IRS990/TotalProgramServiceRevenueAmt0484693
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0488962
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0488962
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01484368
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01337310
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2210534
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2329142
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05140 W CYRESS AVENUE
IRS990/USAddress/CityNm0VISALIA
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd093277
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHUCK KEEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05596273700
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LA SERENA HOUSING DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0LASE
ReturnHeader/Filer/EIN0942840358
ReturnHeader/Filer/PhoneNum05596273700
ReturnHeader/Filer/USAddress/AddressLine1Txt05140 W CYPRESS AVENUE
ReturnHeader/Filer/USAddress/CityNm0VISALIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd093277
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203557677
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KELLER AND ASSOCIATES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt018645 SHERMAN WAY SUITE 110
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RESEDA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091335
ReturnHeader/PreparerPersonGrp/PhoneNum08183833079
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID KELLER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-11-04T16:29:17-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,337,310
Liabilities
$3,023,601
Net assets
-$1,686,291
Revenue
$488,962
Expenses
$526,168
Net income
-$37,206
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.48$2.04$0.57$0.50$0.46$0.04
2024Detailed filing. Detailed filing data is available for this year.$1.47$2.08$0.61$0.52$0.40$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.46$2.20$0.74$0.56$0.39$0.18
2022Detailed filing. Detailed filing data is available for this year.$1.43$2.34$0.91$0.55$0.41$0.14
2021Detailed filing. Detailed filing data is available for this year.$1.29$2.35$1.06$0.55$0.44$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.22$2.38$1.16$0.53$0.41$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.18$2.47$1.29$0.53$0.39$0.13
2018Detailed filing. Detailed filing data is available for this year.$1.17$2.60$1.42$0.54$0.37$0.17
2017Detailed filing. Detailed filing data is available for this year.$1.10$2.69$1.59$0.51$0.45$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.39$3.03$1.64$0.52$0.47$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.34$3.02$1.69$0.49$0.53$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.48$3.10$1.62$0.55$0.68$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.69$3.12$1.43$0.47
2012Summary only. Only limited summary data is available for this year.$1.66$3.13$1.47$0.48$0.43$0.05