Civic Intelligence

La Serena Housing Development Corporation

990 • Fiscal year 2023 • EIN 94-2840358

Jul 01, 2022 to Jun 30, 2023 • Filed on Sep 26, 2023

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

97th percentile

1.51x

Higher debt load relative to assets than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

96th percentile

3.90x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

83rd percentile

31%

Higher net margin than 83% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

43rd percentile

2.1%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

2.7%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$1,459,525

Up $29,778 (+2.1%) from 2022

Net Assets

Up

-$737,675

Up $177,164 (+19%) from 2022

Liabilities

Down

$2,197,200

Down $147,386 (-6.3%) from 2022

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin83rd percentile

Revenue

Up

$563,231

Up $14,595 (+2.7%) from 2022

Expenses

Down

$386,067

Down $21,563 (-5.3%) from 2022

Net Income

Up

$177,164

Up $36,158 (+26%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth43rd 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

2023

Assets$1,459,525
Liabilities$2,197,200
Net Assets-$737,675
Open 2023 Filing

Operations Trend

Revenue Growth43rd 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

2023

Revenue$563,231
Expenses$386,067
Net Income$177,164
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Sep 26, 2023
Return Version
2022v5.0
Gross Receipts
$563,231
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$361,178$403,596▲ $42,418
Accounts Receivable$55,701$54,200▼ $1,501
Prepaid Expenses and Deferred Charges$37,525$27,260▼ $10,265
Cash and Non-Interest-Bearing Accounts$80,301$22,178▼ $58,123
Total Assets$1,429,747$1,459,525▲ $29,778
Other Assets Total$895,042$952,291▲ $57,249
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,214,110$2,141,657▼ $72,453
Other Liabilities$100,718$33,487▼ $67,231
Accounts Payable and Accrued Expenses$29,758$22,056▼ $7,702
Total Liabilities$2,344,586$2,197,200▼ $147,386
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-914,839$-737,675▲ $177,164
Total Net Assets Fund Balance$-914,839$-737,675▲ $177,164
Total Liabilities and Net Assets / Fund Balance$1,429,747$1,459,525▲ $29,778

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,744$3,073,682$3,105,426
Land$250,000-$250,000
Other Land Buildings$86,325$80,854$167,179
Equipment$35,527$69,901$105,428
Other Assets Org$20,876--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Steve TreePresident
Ken KuglerSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$557,866
Investment Income
$1,789
Other Revenue
$3,576
Change in Net Assets
$177,164

Audited Revenue Reconciliation

Revenue per Audited Statements
$563,231
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$563,231
Total Revenue per Form 990
$563,231
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$284,801
Salaries, Compensation, and Employee Benefits$101,266
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$68,291--$68,291
Interest$41,007--$41,007
Fees for Services Management-$37,568-$37,568
Other Employee Benefits$32,975--$32,975
Insurance$28,370--$28,370
Depreciation Depletion$14,512--$14,512
Office Expenses$5,993$666-$6,659
Other Expenses$4,075--$4,075
All Other Expenses$4,029--$4,029
Fees for Services Accounting$3,271--$3,271
Fees for Services Legal$1,684--$1,684
Conferences and Meetings$64--$64
Total Functional Expenses$347,833$38,234$0$386,067

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$386,067
Total Expenses per Audited Statements$386,067
Total Expenses per Form 990$386,067
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
Tenant Security Deposits Payable$20,748
Other Current Liabilities$12,739
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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 11B

“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
2023-09-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Kugler
Formed
1982
Legal Domicile
CA
Voting Board Members
2
Independent Board Members
2
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 Appendix381 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/TotalSupportCalendarYearGrp/TotalAmt02719002
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt031744
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03073682
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03105426
IRS990ScheduleD/EquipmentGrp/BookValueAmt035527
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069901
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0105428
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0386067
IRS990ScheduleD/LandGrp/BookValueAmt0250000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0250000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0931415
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt120876
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS AND RESERVE ACCOUNTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt086325
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt080854
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0167179
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012739
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120748
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0563231
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0403596
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0952291
IRS990ScheduleD/TotalExpensesPerForm990Amt0386067
IRS990ScheduleD/TotalLiabilityAmt033487
IRS990ScheduleD/TotalRevenuePerForm990Amt0563231
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0563231
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0386067
IRS990/ScheduleJRequiredInd00
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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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt01459525
IRS990/TotalAssetsGrp/BOYAmt01429747
IRS990/TotalAssetsGrp/EOYAmt01459525
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt038234
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0347833
IRS990/TotalFunctionalExpensesGrp/TotalAmt0386067
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02344586
IRS990/TotalLiabilitiesEOYAmt02197200
IRS990/TotalLiabilitiesGrp/BOYAmt02344586
IRS990/TotalLiabilitiesGrp/EOYAmt02197200
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-914839
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-737675
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0347833
IRS990/TotalProgramServiceRevenueAmt0557866
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0563231
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0563231
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01459525
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd093277
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHUCK KEEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LA SERENA HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0LASE
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ReturnHeader/Filer/PhoneNum05596273700
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ReturnHeader/Filer/USAddress/CityNm0VISALIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
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/ReturnTs02023-09-26T12:41:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHUCK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KEEN
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,459,525
Liabilities
$2,197,200
Net assets
-$737,675
Revenue
$563,231
Expenses
$386,067
Net income
$177,164
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