Civic Intelligence

Westminster Towers Incorporated

EIN 95-2407563 • 501(c)3 • Pasadena, CA

Profile

Westminster towers, incorporated, operates an affordable apartment community located in santa monica, california.

PO Box 7070Pasadena, CA 91109-7070

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

56th percentile

0.17x

Higher debt load relative to assets than 56% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.45x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

76th percentile

23%

Higher net margin than 76% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

85th percentile

30%

Faster asset growth than 85% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

42nd percentile

3.4%

Faster revenue growth than 42% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,591,595

Up $1,971,914 (+30%) from 2023

Liabilities

Up

$1,463,200

Up $1,224,792 (+514%) from 2023

Net Assets

Up

$7,128,395

Up $747,122 (+12%) from 2023

Revenue

Up

$3,230,596

Up $106,521 (+3.4%) from 2023

Expenses

Up

$2,483,474

Up $53,022 (+2.2%) from 2023

Net Income

Up

$747,122

Up $53,499 (+7.7%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2012: $7,749,717Liabilities 2012: $2,491,689Net Assets 2012: $5,258,0282012Assets 2013: $7,673,449Liabilities 2013: $2,178,824Net Assets 2013: $5,494,6252013Assets 2014: $7,475,999Liabilities 2014: $1,843,278Net Assets 2014: $5,632,7212014Assets 2015: $7,264,484Liabilities 2015: $1,487,751Net Assets 2015: $5,776,7332015Assets 2016: $7,177,372Liabilities 2016: $1,162,044Net Assets 2016: $6,015,3282016Assets 2017: $7,311,096Liabilities 2017: $936,309Net Assets 2017: $6,374,7872017Assets 2018: $7,426,390Liabilities 2018: $714,081Net Assets 2018: $6,712,3092018Assets 2019: $7,296,096Liabilities 2019: $423,653Net Assets 2019: $6,872,4432019Assets 2020: $4,523,575Liabilities 2020: $205,302Net Assets 2020: $4,318,2732020Assets 2021: $5,137,881Liabilities 2021: $223,644Net Assets 2021: $4,914,2372021Assets 2022: $5,928,986Liabilities 2022: $241,336Net Assets 2022: $5,687,6502022Assets 2023: $6,619,681Liabilities 2023: $238,408Net Assets 2023: $6,381,2732023Assets 2024: $8,591,595Liabilities 2024: $1,463,200Net Assets 2024: $7,128,3952024

Highlighted filing

2024

Assets$8,591,595
Liabilities$1,463,200
Net Assets$7,128,395

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $2,447,545Expenses 2012: $2,498,068Net Income 2012: -$50,5232012Revenue 2013: $2,547,190Expenses 2013: $2,310,593Net Income 2013: $236,5972013Revenue 2014: $2,613,413Expenses 2014: $2,475,317Net Income 2014: $138,0962014Revenue 2015: $2,655,830Expenses 2015: $2,511,818Net Income 2015: $144,0122015Revenue 2016: $2,716,896Expenses 2016: $2,478,301Net Income 2016: $238,5952016Revenue 2017: $2,766,568Expenses 2017: $2,407,109Net Income 2017: $359,4592017Revenue 2018: $2,811,605Expenses 2018: $2,474,083Net Income 2018: $337,5222018Revenue 2019: $2,902,609Expenses 2019: $2,742,475Net Income 2019: $160,1342019Revenue 2020: $2,381,678Expenses 2020: $1,793,195Net Income 2020: $588,4832020Revenue 2021: $2,740,336Expenses 2021: $2,144,372Net Income 2021: $595,9642021Revenue 2022: $3,075,255Expenses 2022: $2,301,842Net Income 2022: $773,4132022Revenue 2023: $3,124,075Expenses 2023: $2,430,452Net Income 2023: $693,6232023Revenue 2024: $3,230,596Expenses 2024: $2,483,474Net Income 2024: $747,1222024

Highlighted filing

2024

Revenue$3,230,596
Expenses$2,483,474
Net Income$747,122

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 20, 2025
Return Version
2023v6.0
Gross Receipts
$3,230,596
Mission and Program Overview

Mission

Westminster towers, incorporated, operates an affordable apartment community located in santa monica, california.

To provide affordable housing for those 62 years of age or older.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,844,857$3,459,242▲ $614,385
Land, Buildings, and Equipment, Net$1,843,999$3,233,247▲ $1,389,248
Investments Program Related$1,351,142$1,535,429▲ $184,287
Prepaid Expenses and Deferred Charges$382,971$174,360▼ $208,611
Savings and Temporary Cash Investments$27,320$79,772▲ $52,452
Accounts Receivable$61,759$1,995▼ $59,764
Total Assets$6,619,681$8,591,595▲ $1,971,914
Other Assets Total$107,633$107,550▼ $83
Liabilities
Unsecured Notes Loans Payable-$1,000,000-
Accounts Payable and Accrued Expenses$130,775$355,650▲ $224,875
Other Liabilities$107,633$107,550▼ $83
Total Liabilities$238,408$1,463,200▲ $1,224,792
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,381,273$7,128,395▲ $747,122
Total Net Assets Fund Balance$6,381,273$7,128,395▲ $747,122
Total Liabilities and Net Assets / Fund Balance$6,619,681$8,591,595▲ $1,971,914

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,880,747$6,733,664$9,614,411
Other Land Buildings$0$360,434$360,434
Land$352,500-$352,500
Investment Program Related Org$1,535,429--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Eric LarsonPresident
James Daniel WilliamsVice President
Hyowook Hugh ChaingDirector
Lawrence RheeDirector
Karen CarreySecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Sunny Valley ConstructionGeneral Contractor13184 WHEELER AVE, Sylmar, CA 91342$327,814
Revenue and Support

Revenue Composition

Contributions and Grants
$1,789,559
Program Service Revenue
$1,319,480
Investment Income
$111,888
Other Revenue
$9,669
Change in Net Assets
$747,122

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,230,596
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,230,596
Total Revenue per Form 990
$3,230,596
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,048,857
Salaries, Compensation, and Employee Benefits$434,617
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$322,759$18,367-$341,126
Fees for Services Management-$256,012-$256,012
Depreciation Depletion$248,980--$248,980
Insurance$141,257--$141,257
Fees for Services Accounting-$70,421-$70,421
Other Employee Benefits$52,100$2,964-$55,064
Office Expenses-$32,421-$32,421
Payroll Taxes$25,575$1,455-$27,030
Pension Plan Contributions$10,783$614-$11,397
Fees for Services Other-$10,670-$10,670
Conferences and Meetings-$8,986-$8,986
Fees for Services Legal-$5,750-$5,750
Other Expenses$14,471$5,031-$5,031
All Other Expenses$198$4,826-$5,024
Total Functional Expenses$2,065,957$417,517$0$2,483,474

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,483,474
Expenses per Audited Statements$2,483,395
Total Expenses per Audited Statements$2,483,395
Expenses Not Reported on Financial Statements$79
Other Expense Adjustments$79
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 Deposits$107,550
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Due to the specific requirements and guidelines associated with hud subsidized projects, the governing body retained falkenberg/gilliam & associates as the approved management company for day-to-day management and operations. Falkenberg/gilliam & associates has specialized training and experience in government funded projects for low income senior housing.

Form 990, Part VI, Section B, Line 11B

The westminster towers and geneva plaza projects receive individual audits per hud requirements. During the audit process the auditor works closely with the management company and a board officer to obtain the necessary information to prepare the form 990. The form 990 is reviewed by the falkenberg/gilliam finance department then forwarded to a board officer for final review and signature. All board members receive the return via email prior to the final submission.

Form 990, Part VI, Section C, Line 19

In addition to the form 990 being available upon request, it is available through guidestar.org.

FORM 990, PART VI, SECTION B, LINE 14:

Falkenberg/gilliam & associates, as the approved management company, maintains a written document retention and destruction policy.

FORM 990, PART VI, SECTION B, LINE 15A:

All top management are non-compensated.

FORM 990, PART VI, SECTION B, LINE 15B:

All officers are non-compensated.

Filing and Contact Details

Filer

Filer Name
Westminster Towers Incorporated
EIN
95-2407563
Phone
3232583512
Address
PO BOX 7070, PASADENA, CA 91109-7070

Signing Officer

Name
Eric Larson
Title
President
Phone
3232583512
Signed
2025-05-20

Organization Details

Principal Officer
Eric Larson
Formed
1967
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
5

Preparer

Firm
Quigley & Miron
Address
3580 WILSHIRE BLVD 1755, LOS ANGELES, CA 90010
Preparer
Joni Fujihara
Phone
2136393550
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Falkenberg/gilliam & associates, as the approved management company, has assumed responsibility for oversight of project audits.

Financial Statement Notes

PART X, LINE 2:

Accounting standards require an organization to evaluate its tax positions and provide for a liability for any positions that would not be considered "more likely than not" to be upheld under a tax authority examination. Management has evaluated its tax positions and has concluded that a provision for a tax liability is not necessary at june 30, 2024. Generally, the corporation's information returns remain open for examination three (federal) or four (state of california) years from the date of filing.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

BOARD ACCT EXPENSES 79.

Raw XML AppendixShowing 400 of 485 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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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt018367
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0322759
IRS990/OtherSalariesAndWagesGrp/TotalAmt0341126
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01455
IRS990/PayrollTaxesGrp/ProgramServicesAmt025575
IRS990/PayrollTaxesGrp/TotalAmt027030
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0614
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt010783
IRS990/PensionPlanContributionsGrp/TotalAmt011397
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0382971
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0174360
IRS990/PrincipalOfficerNm0ERIC LARSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM INVESTMT INCOM
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01261992
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt157488
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01261992
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt157488
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01867868
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt017574
IRS990/PYOtherExpensesAmt02037609
IRS990/PYOtherRevenueAmt09031
IRS990/PYProgramServiceRevenueAmt01229602
IRS990/PYRevenuesLessExpensesAmt0693623
IRS990/PYSalariesCompEmpBnftPaidAmt0392843
IRS990/PYTotalExpensesAmt02430452
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03124075
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0747122
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt01319480
IRS990/SavingsAndTempCashInvstGrp/BOYAmt027320
IRS990/SavingsAndTempCashInvstGrp/EOYAmt079772
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01789559
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01867868
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01956624
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01571754
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01168611
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt08354416
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0111888
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt017574
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01372
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt04587
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt09307
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0144728
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01319480
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01229602
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01110705
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01158405
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01193589
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt06011781
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0111888
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt017574
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01372
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt04587
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt09307
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0144728
IRS990ScheduleA/InvestmentIncomeCYPct00.00990
IRS990ScheduleA/InvestmentIncomePYPct00.00270
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt09669
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt09031
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt06552
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt05590
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt010171
IRS990ScheduleA/OtherIncome509Grp/TotalAmt041013
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98720
IRS990ScheduleA/PublicSupportPY509Pct00.99440
IRS990ScheduleA/PublicSupportTotal509Amt014366197
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt03109039
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt03097470
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt03067329
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt02730159
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02362200
IRS990ScheduleA/Total509Grp/TotalAmt014366197
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt03230596
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt03124075
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt03075253
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02740336
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02381678
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt014551938
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt02880747
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06733664
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09614411
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt079
IRS990ScheduleD/ExpensesSubtotalAmt02483395
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01535429
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0RESERVES FOR REPLACEMENT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/LandGrp/BookValueAmt0352500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0352500
IRS990ScheduleD/OtherExpensesNotIncludedAmt079
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0360434
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0360434
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0107550
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03230596
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING STANDARDS REQUIRE AN ORGANIZATION TO EVALUATE ITS TAX POSITIONS AND PROVIDE FOR A LIABILITY FOR ANY POSITIONS THAT WOULD NOT BE CONSIDERED "MORE LIKELY THAN NOT" TO BE UPHELD UNDER A TAX AUTHORITY EXAMINATION. MANAGEMENT HAS EVALUATED ITS TAX POSITIONS AND HAS CONCLUDED THAT A PROVISION FOR A TAX LIABILITY IS NOT NECESSARY AT JUNE 30, 2024. GENERALLY, THE CORPORATION'S INFORMATION RETURNS REMAIN OPEN FOR EXAMINATION THREE (FEDERAL) OR FOUR (STATE OF CALIFORNIA) YEARS FROM THE DATE OF FILING.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BOARD ACCT EXPENSES 79.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03233247
IRS990ScheduleD/TotalBookValueProgramRltdAmt01535429
IRS990ScheduleD/TotalExpensesPerForm990Amt02483474
IRS990ScheduleD/TotalLiabilityAmt0107550
IRS990ScheduleD/TotalRevenuePerForm990Amt03230596
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03230596
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02483395
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DUE TO THE SPECIFIC REQUIREMENTS AND GUIDELINES ASSOCIATED WITH HUD SUBSIDIZED PROJECTS, THE GOVERNING BODY RETAINED FALKENBERG/GILLIAM & ASSOCIATES AS THE APPROVED MANAGEMENT COMPANY FOR DAY-TO-DAY MANAGEMENT AND OPERATIONS. FALKENBERG/GILLIAM & ASSOCIATES HAS SPECIALIZED TRAINING AND EXPERIENCE IN GOVERNMENT FUNDED PROJECTS FOR LOW INCOME SENIOR HOUSING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE WESTMINSTER TOWERS AND GENEVA PLAZA PROJECTS RECEIVE INDIVIDUAL AUDITS PER HUD REQUIREMENTS. DURING THE AUDIT PROCESS THE AUDITOR WORKS CLOSELY WITH THE MANAGEMENT COMPANY AND A BOARD OFFICER TO OBTAIN THE NECESSARY INFORMATION TO PREPARE THE FORM 990. THE FORM 990 IS REVIEWED BY THE FALKENBERG/GILLIAM FINANCE DEPARTMENT THEN FORWARDED TO A BOARD OFFICER FOR FINAL REVIEW AND SIGNATURE. ALL BOARD MEMBERS RECEIVE THE RETURN VIA EMAIL PRIOR TO THE FINAL SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN ADDITION TO THE FORM 990 BEING AVAILABLE UPON REQUEST, IT IS AVAILABLE THROUGH GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FALKENBERG/GILLIAM & ASSOCIATES, AS THE APPROVED MANAGEMENT COMPANY, MAINTAINS A WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL TOP MANAGEMENT ARE NON-COMPENSATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL OFFICERS ARE NON-COMPENSATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FALKENBERG/GILLIAM & ASSOCIATES, AS THE APPROVED MANAGEMENT COMPANY, HAS ASSUMED RESPONSIBILITY FOR OVERSIGHT OF PROJECT AUDITS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 14:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0WESTMINSTER TOWERS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0GENEVA PLAZA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0833984225
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE AFFORDABLE HOUSING FOR THOSE 62 YEARS OF AGE OR OLDER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 7070
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PASADENA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0911097070
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00

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