Civic Intelligence

The Lesley Foundation

990 • Fiscal year 2014 • EIN 94-6103170

Jan 01, 2014 to Dec 31, 2014 • Filed on May 28, 2015

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

38th percentile

0.13x

Higher debt load relative to assets than 38% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

55th percentile

0.30x

Higher debt load relative to revenue than 55% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

15th percentile

-8.8%

Higher net margin than 15% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

63rd percentile

$210,963

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

20th percentile

-3.3%

Faster asset growth than 20% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

15th percentile

-12%

Faster revenue growth than 15% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Down

$12,256,444

Down $420,433 (-3.3%) from 2013

Net Assets

Down

$10,646,526

Down $457,830 (-4.1%) from 2013

Liabilities

Up

$1,609,918

Up $37,397 (+2.4%) from 2013

Revenue

Down

$5,398,775

Down $752,005 (-12%) from 2013

Expenses

Up

$5,875,784

Up $48,582 (+0.8%) from 2013

Net Income

Down

-$477,009

Down $800,587 (-247%) from 2013

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $12,042,810Liabilities 2011: $1,750,903Net Assets 2011: $10,291,9072011Assets 2012: $12,051,279Liabilities 2012: $1,309,961Net Assets 2012: $10,741,3182012Assets 2013: $12,676,877Liabilities 2013: $1,572,521Net Assets 2013: $11,104,3562013Assets 2014: $12,256,444Liabilities 2014: $1,609,918Net Assets 2014: $10,646,5262014Assets 2015: $27,297,933Liabilities 2015: $15,181,263Net Assets 2015: $12,116,6702015Assets 2016: $47,506,957Liabilities 2016: $33,857,592Net Assets 2016: $13,649,3652016Assets 2017: $55,725,394Liabilities 2017: $38,165,384Net Assets 2017: $17,560,0102017Assets 2018: $55,681,527Liabilities 2018: $38,951,623Net Assets 2018: $16,729,9042018Assets 2019: $54,790,547Liabilities 2019: $38,398,351Net Assets 2019: $16,392,1962019Assets 2020: $71,614,314Liabilities 2020: $57,615,254Net Assets 2020: $13,999,0602020Assets 2021: $72,424,363Liabilities 2021: $57,643,239Net Assets 2021: $14,781,1242021Assets 2022: $70,427,297Liabilities 2022: $55,690,165Net Assets 2022: $14,737,1322022Assets 2023: $83,206,437Liabilities 2023: $54,180,311Net Assets 2023: $29,026,1262023Assets 2024: $84,404,524Liabilities 2024: $53,155,062Net Assets 2024: $31,249,4622024

Highlighted filing

2014

Assets$12,256,444
Liabilities$1,609,918
Net Assets$10,646,526

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2011: $4,781,519Expenses 2011: $4,879,980Net Income 2011: -$98,4612011Revenue 2012: $5,359,331Expenses 2012: $5,079,832Net Income 2012: $279,4992012Revenue 2013: $6,150,780Expenses 2013: $5,827,202Net Income 2013: $323,5782013Revenue 2014: $5,398,775Expenses 2014: $5,875,784Net Income 2014: -$477,0092014Revenue 2015: $7,285,866Expenses 2015: $5,712,974Net Income 2015: $1,572,8922015Revenue 2016: $7,193,259Expenses 2016: $5,698,766Net Income 2016: $1,494,4932016Revenue 2017: $11,413,948Expenses 2017: $7,711,024Net Income 2017: $3,702,9242017Revenue 2018: $8,325,566Expenses 2018: $8,999,706Net Income 2018: -$674,1402018Revenue 2019: $8,230,478Expenses 2019: $8,916,310Net Income 2019: -$685,8322019Revenue 2020: $9,314,464Expenses 2020: $11,977,984Net Income 2020: -$2,663,5202020Revenue 2021: $9,471,607Expenses 2021: $8,810,870Net Income 2021: $660,7372021Revenue 2022: $9,764,648Expenses 2022: $9,040,905Net Income 2022: $723,7432022Revenue 2023: $22,644,563Expenses 2023: $8,754,829Net Income 2023: $13,889,7342023Revenue 2024: $8,843,621Expenses 2024: $6,906,343Net Income 2024: $1,937,2782024

Highlighted filing

2014

Revenue$5,398,775
Expenses$5,875,784
Net Income-$477,009
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 28, 2015
Return Version
2014v5.0
Gross Receipts
$5,398,775
Mission and Program Overview

Mission

The corporation was formed (a) to provide housing and related facilities and services for senior families and persons on a non-profit basis; (b) to plan, construct, operate, maintain, rehabilitate, alter, convert, and improve housing for seniors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,804,314$7,420,887▼ $383,427
Savings and Temporary Cash Investments$705,002$729,344▲ $24,342
Accounts Receivable$657,225$381,927▼ $275,298
Investments in Publicly Traded Securities$1,790,998$302,873▼ $1,488,125
Prepaid Expenses and Deferred Charges$39,165$45,597▲ $6,432
Cash and Non-Interest-Bearing Accounts$2,750$2,750→ $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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$12,676,877$12,256,444▼ $420,433
Other Assets Total$1,677,423$3,373,066▲ $1,695,643
Liabilities
Accounts Payable and Accrued Expenses$678,330$724,446▲ $46,116
Mortgage Notes Payable Secured by Investment Property$692,487$683,490▼ $8,997
Other Liabilities$201,704$201,982▲ $278
Total Liabilities$1,572,521$1,609,918▲ $37,397
Net Assets / Fund Balance
Unrestricted Net Assets$11,104,356$10,646,526▼ $457,830
Total Net Assets Fund Balance$11,104,356$10,646,526▼ $457,830
Total Liabilities and Net Assets / Fund Balance$12,676,877$12,256,444▼ $420,433

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,840,260$7,731,353$14,571,613
Equipment$185,078$465,413$650,491
Land$395,549-$395,549
Other Assets Org$201,982--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sarah LambertExecutive DirecFT$140,125$70,838$210,963
Catherine EvansDirector of Oper.FT$133,344$13,201$146,545

Board Members and Trustees

NameTitle
Barbara EversPresident
Sue WinksVice President
Carol BoesMember
naomi patridgeMember
sandy councilMember
Linda AvelarSecretary
George MetropulosTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Anne Phillips ArchitectureArchitect Services3032 Magnolia Street, Oakland, CA 94608$1,116,300
Hampden Park Capital LLCSPRAC Consulting382 West Main Street Suite 201, Northborough, MA 01532$294,899
Zimmerman & AssociatesArchitect Services1707 Denmark Street, Sonoma, CA 95476$215,299
Revenue and Support

Revenue Composition

Contributions and Grants
$658,710
Program Service Revenue
$4,599,974
Investment Income
$89,412
Other Revenue
$50,679
All Other Contributions
$20,310
Change in Net Assets
$-477,009

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,389,170
Revenue Not Reported on Financial Statements
$9,605
Revenue Not Reported on Form 990
$19,179
Total Revenue per Audited Statements
$5,408,349
Total Revenue per Form 990
$5,398,775
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,380,159
Other Expenses$2,495,625
Total Fundraising Expense$311
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,411,341$926,216-$2,337,557
Occupancy$585,595--$585,595
Other Employee Benefits$234,834$191,565-$426,399
Depreciation Depletion$418,736$5,870-$424,606
Current Officers, Directors, Trustees, and Key Employees-$323,469-$323,469
Payroll Taxes$88,121$87,064-$175,185
Office Expenses-$124,880$311$125,191
Pension Plan Contributions$82,394$35,155-$117,549
Insurance$92,638$3,781-$96,419
All Other Expenses$39,575$33,691-$73,266
Fees for Services Accounting-$33,775-$33,775
Other Expenses$27,194--$27,194
Fees for Services Legal-$25,363-$25,363
Fees for Service Investment Mgmnt Fees-$9,605-$9,605
Conferences and Meetings-$6,754-$6,754
Information Technology-$5,550-$5,550
Interest$1,808--$1,808
Fees for Services Other-$945-$945
Advertising-$480-$480
Travel-$300-$300
Total Functional Expenses$4,061,010$1,814,463$311$5,875,784

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$5,875,784
Expenses per Audited Statements$5,866,179
Total Expenses per Audited Statements$5,866,179
Expenses Not Reported on Financial Statements$9,605
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
Tenant Security Deposits$201,982
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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, Line 11B: Form 990 Review Process

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

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

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

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

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, Line 19: Other Organization Documents Publicly Available

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

Filing and Contact Details

Filer

Filer Name
The Lesley Foundation
EIN
94-6103170
Phone
6507264888
Address
701 ARNOLD WAY, HALF MOON BAY, CA 94019

Signing Officer

Name
Sarah Lambert
Title
Executive Director
Signed
2015-05-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Lambert
Formed
1944
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
102
Volunteers
20

Preparer

Firm
Doran & Associates
Address
55 MITCHELL BOULEVARD STE 3, SAN RAFAEL, CA 94903
Preparer
Lisa Doran CPA
Phone
4154911130
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: AFFORDABLE HOUSING DEVELOPMENT AND MANAGEMENT - THE FOUNDATION MANAGES TWO OTHER PROPERTIES PROVIDING LOW-INCOME HOUSING FOR SENIORS AND DEVELOPed A MIXED-USE SENIOR DAY FACILITY IN HALF MOON BAY, from which it earned development and management fees.

Part 1, Line 5 & Part IX, Lines 7, 9, 10

Main and arnold senior housing, inc. And the ocean view foundation, related parties, utilize the staff of the lesley foundation. On an ongoing basis, main and arnold senior housing, inc. And the ocean view foundation reimburse the lesley foundation for payroll and benefit costs. All required payroll tax remittance and reporting is performed by the lesley foundation.

Financial Statement Notes

Part X : FIN48 Footnote

Accounting Principles, 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 Foundation to report information regarding its exposure to various tax positions taken by the Foundation. The Foundation has determined whether any tax positions have met the recognition threshold and have measured the Foundation's exposure to those tax positions. Management believes that the Foundation 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. Any interest or penalties assessed to the Foundation 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/ProgSrvcAccomActy3Grp/Desc0PILGRIM PLAZA - 56-UNIT PROJECT PROVIDING LOW-INCOME HOUSING FORSENIORS.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$84.4$53.2$31.2$8.84$6.91$1.94
2023Detailed filing. Detailed filing data is available for this year.$83.2$54.2$29.0$22.6$8.75$13.9
2022Detailed filing. Detailed filing data is available for this year.$70.4$55.7$14.7$9.76$9.04$0.72
2021Detailed filing. Detailed filing data is available for this year.$72.4$57.6$14.8$9.47$8.81$0.66
2020Detailed filing. Detailed filing data is available for this year.$71.6$57.6$14.0$9.31$12.0$2.66
2019Detailed filing. Detailed filing data is available for this year.$54.8$38.4$16.4$8.23$8.92$0.69
2018Detailed filing. Detailed filing data is available for this year.$55.7$39.0$16.7$8.33$9.00$0.67
2017Detailed filing. Detailed filing data is available for this year.$55.7$38.2$17.6$11.4$7.71$3.70
2016Detailed filing. Detailed filing data is available for this year.$47.5$33.9$13.6$7.19$5.70$1.49
2015Detailed filing. Detailed filing data is available for this year.$27.3$15.2$12.1$7.29$5.71$1.57
2014Detailed filing. Detailed filing data is available for this year.$12.3$1.61$10.6$5.40$5.88$0.48
2013Summary only. Only limited summary data is available for this year.$12.7$1.57$11.1$6.15$5.83$0.32
2012Summary only. Only limited summary data is available for this year.$12.1$1.31$10.7$5.36$5.08$0.28
2011Summary only. Only limited summary data is available for this year.$12.0$1.75$10.3$4.78$4.88$0.10