Civic Intelligence

Grace Tower Inc.

990 • Fiscal year 2018 • EIN 95-2461674

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 11, 2019

Organization ProfileN/A
PO Box 7070Pasadena, CA 91109

(323) 258-3512

Siviq Scores

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

Liabilities / Assets

71st percentile

0.50x

Higher debt load relative to assets than 71% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

6.10x

Higher debt load relative to revenue than 95% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

78th percentile

12%

Faster asset growth than 78% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

40th percentile

2.2%

Faster revenue growth than 40% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$29,169,542

Up $3,236,573 (+12%) from 2017

Net Assets

Up

$14,580,207

Up $436,820 (+3.1%) from 2017

Liabilities

Up

$14,589,335

Up $2,799,753 (+24%) from 2017

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin76th percentile

Revenue

Up

$2,389,807

Up $50,379 (+2.2%) from 2017

Expenses

Up

$1,952,987

Up $139,591 (+7.7%) from 2017

Net Income

Down

$436,820

Down $89,212 (-17%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$40M$30M$20M$10M$0Assets 2011: $12,570,277Liabilities 2011: $520,456Net Assets 2011: $12,049,8212011Assets 2012: $12,473,349Liabilities 2012: $425,244Net Assets 2012: $12,048,1052012Assets 2013: $12,474,596Liabilities 2013: $365,342Net Assets 2013: $12,109,2542013Assets 2014: $12,423,061Liabilities 2014: $290,361Net Assets 2014: $12,132,7002014Assets 2015: $14,855,455Liabilities 2015: $2,193,974Net Assets 2015: $12,661,4812015Assets 2016: $27,028,088Liabilities 2016: $13,410,733Net Assets 2016: $13,617,3552016Assets 2017: $25,932,969Liabilities 2017: $11,789,582Net Assets 2017: $14,143,3872017Assets 2018: $29,169,542Liabilities 2018: $14,589,335Net Assets 2018: $14,580,2072018Assets 2019: $29,425,011Liabilities 2019: $14,420,324Net Assets 2019: $15,004,6872019Assets 2020: $30,366,955Liabilities 2020: $14,269,079Net Assets 2020: $16,097,8762020Assets 2021: $32,129,114Liabilities 2021: $14,045,332Net Assets 2021: $18,083,7822021Assets 2022: $33,970,858Liabilities 2022: $13,822,024Net Assets 2022: $20,148,8342022Assets 2023: $36,630,423Liabilities 2023: $13,605,023Net Assets 2023: $23,025,4002023Assets 2024: $39,627,989Liabilities 2024: $13,434,379Net Assets 2024: $26,193,6102024

Highlighted filing

2018

Assets$29,169,542
Liabilities$14,589,335
Net Assets$14,580,207
Open 2018 Filing

Operations Trend

Revenue Growth40th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,020,682Expenses 2011: $899,333Net Income 2011: $121,3492011Revenue 2012: $1,018,180Expenses 2012: $1,019,896Net Income 2012: -$1,7162012Revenue 2013: $1,030,903Expenses 2013: $969,754Net Income 2013: $61,1492013Revenue 2014: $1,063,615Expenses 2014: $1,040,169Net Income 2014: $23,4462014Revenue 2015: $1,533,032Expenses 2015: $1,004,251Net Income 2015: $528,7812015Revenue 2016: $2,153,444Expenses 2016: $1,197,570Net Income 2016: $955,8742016Revenue 2017: $2,339,428Expenses 2017: $1,813,396Net Income 2017: $526,0322017Revenue 2018: $2,389,807Expenses 2018: $1,952,987Net Income 2018: $436,8202018Revenue 2019: $2,603,106Expenses 2019: $2,178,626Net Income 2019: $424,4802019Revenue 2020: $3,203,808Expenses 2020: $2,110,619Net Income 2020: $1,093,1892020Revenue 2021: $4,060,490Expenses 2021: $2,074,584Net Income 2021: $1,985,9062021Revenue 2022: $4,208,003Expenses 2022: $2,142,951Net Income 2022: $2,065,0522022Revenue 2023: $5,139,045Expenses 2023: $2,241,952Net Income 2023: $2,897,0932023Revenue 2024: $5,544,291Expenses 2024: $2,324,826Net Income 2024: $3,219,4652024

Highlighted filing

2018

Revenue$2,389,807
Expenses$1,952,987
Net Income$436,820
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 11, 2019
Return Version
2018v3.1
Gross Receipts
$2,389,807
Mission and Program Overview

Mission

To operate an apartment complex of 168 units to provide low-income housing for elderly tenants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,933,088$13,524,782▼ $408,306
Other Notes and Loans Receivable, Net$8,824,272$8,876,448▲ $52,176
Savings and Temporary Cash Investments$1,444,862$4,773,770▲ $3,328,908
Intangible Assets$383,860$486,863▲ $103,003
Cash and Non-Interest-Bearing Accounts$104,302$128,878▲ $24,576
Prepaid Expenses and Deferred Charges$103,380$118,427▲ $15,047
Accounts Receivable-$580-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$25,932,969$29,169,542▲ $3,236,573
Other Assets Total$1,139,205$1,259,794▲ $120,589
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,629,524$14,382,788▲ $4,753,264
Other Liabilities$2,086,553$124,742▼ $1,961,811
Accounts Payable and Accrued Expenses$73,505$81,805▲ $8,300
Total Liabilities$11,789,582$14,589,335▲ $2,799,753
Net Assets / Fund Balance
Unrestricted Net Assets$13,737,882$14,580,207▲ $842,325
Temporarily Rstr Net Assets$405,505--
Total Net Assets Fund Balance$14,143,387$14,580,207▲ $436,820
Total Liabilities and Net Assets / Fund Balance$25,932,969$29,169,542▲ $3,236,573

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,290,878$2,982,367$16,273,245
Land$197,793-$197,793
Equipment$32,356$136,361$168,717
Other Land Buildings$3,755$24,049$27,804
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Emil J WohlPresident
Al DeberardinisDirector
Drew HubbellDirector
James a ChatfieldDirector
Michael GibsonDirector
Robert L RenttoSecretary/CFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Falkenberggilliam & AssocManagement1560 COLORADO BLVD, Pasadena, CA 91105$155,049
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,321,187
Investment Income
$68,620
Other Revenue
$0
Change in Net Assets
$436,820

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,334,945
Revenue Not Reported on Financial Statements
$54,862
Other Revenue Adjustments
$54,862
Total Revenue per Audited Statements
$2,334,945
Total Revenue per Form 990
$2,389,807
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,535,117
Salaries, Compensation, and Employee Benefits$417,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$418,666--$418,666
Interest$394,505--$394,505
Other Salaries and Wages$172,328$149,649-$321,977
Fees for Services Management-$155,049-$155,049
Other Employee Benefits$37,350$32,434-$69,784
Insurance$47,697--$47,697
Fees for Services Accounting-$28,875-$28,875
Office Expenses-$26,116-$26,116
Payroll Taxes$13,974$12,135-$26,109
All Other Expenses-$18,758-$18,758
Fees for Services Legal-$16,605-$16,605
Other Expenses$2,129$9,410-$11,539
Fees for Services Other-$6,400-$6,400
Advertising-$670-$670
Total Functional Expenses$1,496,886$456,101$0$1,952,987

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,952,987
Expenses per Audited Statements$1,942,189
Total Expenses per Audited Statements$1,942,189
Expenses Not Reported on Financial Statements$10,798
Other Expense Adjustments$10,798
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 Deposit Liability$74,674
Accrued Interest Payable$50,068
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Emil j. Wohl (president) is the son-in-law of robert l. Rentto (secretary).”

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“The organization delegated accounting and payroll duties to a management company”

Form 990, Part VI, Line 11B: Form 990 Review Process

“A copy of the return is sent to the board of directors by email for review prior to obtaining the president's signature and filing.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents, policies, and financial statements are made available upon request to the management office as listed on page 1”

Filing and Contact Details

Filer

Filer Name
Grace Tower Inc
EIN
95-2461674
Phone
3232583512
Address
PO BOX 7070, PASADENA, CA 91109

Signing Officer

Name
Emil J Wohl
Title
President
Signed
2019-10-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emil J Wohl
Formed
1967
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
6
Employees
7
Volunteers
6

Preparer

Firm
Leaf & Cole LLP
Address
2810 Camino Del Rio South Suite 200, San Diego, CA 92108-3820
Preparer
Michael J Zizzi
Phone
6192947200
Supplemental Narrative

Additional Explanations

FORM 990, PART X, LINES 27-29: NET ASSETS

“The organization has adopted the principles of FASB ASU No. 2016-14 (ASC 958) for its audited financial statements for the year ended December 31, 2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. We have included the net asset categories in our audited financial statements on existing Form 990, Part X, Lines 27-29 as follows:Net assets without donor restrictions $4,364,563Net assets with donor restrictions $0Unaudited net assets $10,218,357Total net assets $14,582,920Unrestricted net assets $14,582,920Temporarily restricted net assets $0Permanently restricted net assets $0Total net assets $14,582,920”

Part XII Financial Statements and Reporting

“The organization is not audited as a whole. The housing project, f.h.a. Project no. 129-35122, is the audited portion of the organization.”

Financial Statement Notes

Part X : FIN48 Footnote

“The Corporation is a nonprofit organization and is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code. The Corporation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The Corporation is not a private foundation.The Corporations Return of Organization Exempt from Income Tax for the years ended December 31, 2018, 2017, 2016, and 2015 are subject to examination by the Internal Revenue Service and State taxing authorities, generally three to four years after the returns were filed.”

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Unaudited interest income $50678 entity interest income $4184”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Unaudited expenses $10798”

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IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO OPERATE AN APARTMENT COMPLEX OF 168 UNITS TO PROVIDE LOW-INCOME HOUSING FOR ELDERLY TENANTS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt09629524
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt014382788
IRS990/NetAssetsOrFundBalancesBOYAmt014143387
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt026116
IRS990/OfficeExpensesGrp/TotalAmt026116
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt01139205
IRS990/OtherAssetsTotalGrp/EOYAmt01259794
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt032434
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt037350
IRS990/OtherEmployeeBenefitsGrp/TotalAmt069784
IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1MISC OPERATING AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2MIP/SERVICE CHARGE
IRS990/OtherExpensesGrp/Desc3OTHER EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt09410
IRS990/OtherExpensesGrp/ProgramServicesAmt0193680
IRS990/OtherExpensesGrp/ProgramServicesAmt1171991
IRS990/OtherExpensesGrp/ProgramServicesAmt244566
IRS990/OtherExpensesGrp/ProgramServicesAmt32129
IRS990/OtherExpensesGrp/TotalAmt0193680
IRS990/OtherExpensesGrp/TotalAmt1171991
IRS990/OtherExpensesGrp/TotalAmt244566
IRS990/OtherExpensesGrp/TotalAmt311539
IRS990/OtherLiabilitiesGrp/BOYAmt02086553
IRS990/OtherLiabilitiesGrp/EOYAmt0124742
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0149649
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0172328
IRS990/OtherSalariesAndWagesGrp/TotalAmt0321977
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt08824272
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt08876448
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt012135
IRS990/PayrollTaxesGrp/ProgramServicesAmt013974
IRS990/PayrollTaxesGrp/TotalAmt026109
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0103380
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0118427
IRS990/PrincipalOfficerNm0EMIL J WOHL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/BusinessCd2532000
IRS990/ProgramServiceRevenueGrp/Desc0LAUNDRY & VENDING REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc2TENANT ASSISTANCE PAYMENT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04247
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1826399
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21490541
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04247
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1826399
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21490541
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt045611
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01417307
IRS990/PYProgramServiceRevenueAmt02293817
IRS990/PYRevenuesLessExpensesAmt0526032
IRS990/PYSalariesCompEmpBnftPaidAmt0396089
IRS990/PYTotalExpensesAmt01813396
IRS990/PYTotalRevenueAmt02339428
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0436820
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02321187
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01444862
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04773770
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01490541
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01465319
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01287574
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0561834
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt089920
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt04895188
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt068620
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt045611
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt043328
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt043925
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt048097
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0249581
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0830646
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0828498
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0822542
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0927273
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0925598
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt04334557
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt068620
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt045611
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt043328
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt043925
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt048097
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0249581
IRS990ScheduleA/InvestmentIncomeCYPct00.02630
IRS990ScheduleA/InvestmentIncomePYPct00.02820
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97370
IRS990ScheduleA/PublicSupportPY509Pct00.97180
IRS990ScheduleA/PublicSupportTotal509Amt09229745
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02321187
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02293817
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02110116
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01489107
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01015518
IRS990ScheduleA/Total509Grp/TotalAmt09229745
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02389807
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02339428
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02153444
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01533032
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01063615
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt09479326
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt013290878
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02982367
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt016273245
IRS990ScheduleD/EquipmentGrp/BookValueAmt032356
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0136361
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0168717
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt010798
IRS990ScheduleD/ExpensesSubtotalAmt01942189
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0197793
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0197793
IRS990ScheduleD/OtherExpensesNotIncludedAmt010798
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03755
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt024049
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt027804
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt050068
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt174674
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/OtherRevenuesNotIncludedAmt054862
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt054862
IRS990ScheduleD/RevenueSubtotalAmt02334945
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation is a nonprofit organization and is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code. The Corporation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The Corporation is not a private foundation.The Corporations Return of Organization Exempt from Income Tax for the years ended December 31, 2018, 2017, 2016, and 2015 are subject to examination by the Internal Revenue Service and State taxing authorities, generally three to four years after the returns were filed.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1UNAUDITED INTEREST INCOME $50678 ENTITY INTEREST INCOME $4184
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2UNAUDITED EXPENSES $10798
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013524782
IRS990ScheduleD/TotalExpensesPerForm990Amt01952987
IRS990ScheduleD/TotalLiabilityAmt0124742
IRS990ScheduleD/TotalRevenuePerForm990Amt02389807
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02334945
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01942189
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EMIL J. WOHL (PRESIDENT) IS THE SON-IN-LAW OF ROBERT L. RENTTO (SECRETARY).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DELEGATED ACCOUNTING AND PAYROLL DUTIES TO A MANAGEMENT COMPANY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE RETURN IS SENT TO THE BOARD OF DIRECTORS BY EMAIL FOR REVIEW PRIOR TO OBTAINING THE PRESIDENT'S SIGNATURE AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST TO THE MANAGEMENT OFFICE AS LISTED ON PAGE 1
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization has adopted the principles of FASB ASU No. 2016-14 (ASC 958) for its audited financial statements for the year ended December 31, 2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. We have included the net asset categories in our audited financial statements on existing Form 990, Part X, Lines 27-29 as follows:Net assets without donor restrictions $4,364,563Net assets with donor restrictions $0Unaudited net assets $10,218,357Total net assets $14,582,920Unrestricted net assets $14,582,920Temporarily restricted net assets $0Permanently restricted net assets $0Total net assets $14,582,920
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION IS NOT AUDITED AS A WHOLE. THE HOUSING PROJECT, F.H.A. PROJECT NO. 129-35122, IS THE AUDITED PORTION OF THE ORGANIZATION.

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$29,169,542
Liabilities
$14,589,335
Net assets
$14,580,207
Revenue
$2,389,807
Expenses
$1,952,987
Net income
$436,820
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.6$13.4$26.2$5.54$2.32$3.22
2023Detailed filing. Detailed filing data is available for this year.$36.6$13.6$23.0$5.14$2.24$2.90
2022Detailed filing. Detailed filing data is available for this year.$34.0$13.8$20.1$4.21$2.14$2.07
2021Detailed filing. Detailed filing data is available for this year.$32.1$14.0$18.1$4.06$2.07$1.99
2020Detailed filing. Detailed filing data is available for this year.$30.4$14.3$16.1$3.20$2.11$1.09
2019Detailed filing. Detailed filing data is available for this year.$29.4$14.4$15.0$2.60$2.18$0.42
2018Detailed filing. Detailed filing data is available for this year.$29.2$14.6$14.6$2.39$1.95$0.44
2017Detailed filing. Detailed filing data is available for this year.$25.9$11.8$14.1$2.34$1.81$0.53
2016Detailed filing. Detailed filing data is available for this year.$27.0$13.4$13.6$2.15$1.20$0.96
2015Detailed filing. Detailed filing data is available for this year.$14.9$2.19$12.7$1.53$1.00$0.53
2014Detailed filing. Detailed filing data is available for this year.$12.4$0.29$12.1$1.06$1.04$0.02
2013Detailed filing. Detailed filing data is available for this year.$12.5$0.37$12.1$1.03$0.97$0.06
2012Summary only. Only limited summary data is available for this year.$12.5$0.43$12.0$1.02$1.02$0.00
2011Summary only. Only limited summary data is available for this year.$12.6$0.52$12.0$1.02$0.90$0.12