Civic Intelligence

La Serena Housing Development Corporation

990 • Fiscal year 2016 • EIN 94-2840358

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 19, 2016

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

2.18x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

5.87x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

68th percentile

9.7%

Higher net margin than 68% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

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.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

59th percentile

4.0%

Faster asset growth than 59% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

5.6%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$1,390,493

Up $53,183 (+4.0%) from 2015

Net Assets

Up

-$1,637,660

Up $48,631 (+2.9%) from 2015

Liabilities

Up

$3,028,153

Up $4,552 (+0.2%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin68th percentile

Revenue

Up

$516,143

Up $27,181 (+5.6%) from 2015

Expenses

Down

$466,008

Down $60,160 (-11%) from 2015

Net Income

Up

$50,135

Up $87,341 (+235%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth59th 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

2016

Assets$1,390,493
Liabilities$3,028,153
Net Assets-$1,637,660
Open 2016 Filing

Operations Trend

Revenue Growth57th 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

2016

Revenue$516,143
Expenses$466,008
Net Income$50,135
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 19, 2016
Return Version
2015v2.1
Gross Receipts
$516,143
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
Cash and Non-Interest-Bearing Accounts$224,772$342,017▲ $117,245
Land, Buildings, and Equipment, Net$448,997$341,985▼ $107,012
Prepaid Expenses and Deferred Charges$18,108$15,692▼ $2,416
Accounts Receivable$2,582$5,098▲ $2,516
Total Assets$1,337,310$1,390,493▲ $53,183
Other Assets Total$642,851$685,701▲ $42,850
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,893,165$2,852,589▼ $40,576
Other Liabilities$121,262$161,587▲ $40,325
Accounts Payable and Accrued Expenses$9,174$13,977▲ $4,803
Total Liabilities$3,023,601$3,028,153▲ $4,552
Net Assets / Fund Balance
Temporarily Rstr Net Assets$642,851$685,701▲ $42,850
Unrestricted Net Assets$-2,329,142$-2,323,361▲ $5,781
Total Net Assets Fund Balance$-1,686,291$-1,637,660▲ $48,631
Total Liabilities and Net Assets / Fund Balance$1,337,310$1,390,493▲ $53,183

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$66,080$3,005,538$3,071,618
Land$250,000-$250,000
Equipment$13,344$36,491$49,835
Other Land Buildings$12,561$21,472$34,033
Other Assets Org$19,170--
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
$510,231
Investment Income
$1,067
Other Revenue
$4,845
Change in Net Assets
$50,135

Audited Revenue Reconciliation

Revenue per Audited Statements
$516,143
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$516,143
Total Revenue per Form 990
$516,143
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$344,752
Salaries, Compensation, and Employee Benefits$121,256
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$107,012--$107,012
Other Salaries and Wages$92,975--$92,975
Interest$69,228--$69,228
Fees for Services Management$35,786--$35,786
Other Employee Benefits$28,281--$28,281
Insurance$16,412--$16,412
Other Expenses$15,307--$15,307
All Other Expenses$13,734--$13,734
Fees for Services Accounting$3,859--$3,859
Office Expenses$2,810--$2,810
Fees for Services Legal$1,247--$1,247
Conferences and Meetings$497--$497
Total Functional Expenses$466,008$0$0$466,008

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$466,008
Total Expenses per Audited Statements$466,008
Total Expenses per Form 990$466,008
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$94,540
Incentive Performance Fee Payable$46,694
Tenant Security Deposits Payable$20,353
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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
EIN
94-2840358
Phone
5596273700
Address
5140 W CYPRESS AVENUE, VISALIA, CA 93277

Signing Officer

Name
Chuck Keen
Title
Secretary/treasurer
Phone
5596273700
Signed
2016-10-19
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
Raw XML Appendix384 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/TotalAmt02514779
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0516143
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0488962
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0550663
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0503866
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0479645
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02539279
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt066080
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03005538
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03071618
IRS990ScheduleD/EquipmentGrp/BookValueAmt013344
IRS990ScheduleD/EquipmentGrp/DepreciationAmt036491
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt049835
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0466008
IRS990ScheduleD/LandGrp/BookValueAmt0250000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0250000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0666531
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt119170
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS AND RESERVE ACCOUNTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt012561
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021472
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt034033
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt046694
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt194540
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt220353
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INCENTIVE PERFORMANCE FEE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0516143
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0341985
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0685701
IRS990ScheduleD/TotalExpensesPerForm990Amt0466008
IRS990ScheduleD/TotalLiabilityAmt0161587
IRS990ScheduleD/TotalRevenuePerForm990Amt0516143
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0516143
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0466008
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/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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0642851
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0685701
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01337310
IRS990/TotalAssetsEOYAmt01390493
IRS990/TotalAssetsGrp/BOYAmt01337310
IRS990/TotalAssetsGrp/EOYAmt01390493
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0466008
IRS990/TotalFunctionalExpensesGrp/TotalAmt0466008
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03023601
IRS990/TotalLiabilitiesEOYAmt03028153
IRS990/TotalLiabilitiesGrp/BOYAmt03023601
IRS990/TotalLiabilitiesGrp/EOYAmt03028153
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1686291
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1637660
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0466008
IRS990/TotalProgramServiceRevenueAmt0510231
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0516143
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0516143
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01337310
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01390493
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2329142
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2323361
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/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHUCK KEEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05596273700
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LA SERENA HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
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/ReturnTs02016-10-17T00:00:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,390,493
Liabilities
$3,028,153
Net assets
-$1,637,660
Revenue
$516,143
Expenses
$466,008
Net income
$50,135
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