Civic Intelligence

Grace Tower Inc.

990 • Fiscal year 2022 • EIN 95-2461674

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 02, 2023

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

67th percentile

0.41x

Higher debt load relative to assets than 67% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

3.28x

Higher debt load relative to revenue than 91% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

89th percentile

49%

Higher net margin than 89% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

64th percentile

5.7%

Faster asset growth than 64% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

49th percentile

3.6%

Faster revenue growth than 49% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$33,970,858

Up $1,841,744 (+5.7%) from 2021

Net Assets

Up

$20,148,834

Up $2,065,052 (+11%) from 2021

Liabilities

Down

$13,822,024

Down $223,308 (-1.6%) from 2021

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin89th percentile

Revenue

Up

$4,208,003

Up $147,513 (+3.6%) from 2021

Expenses

Up

$2,142,951

Up $68,367 (+3.3%) from 2021

Net Income

Up

$2,065,052

Up $79,146 (+4.0%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth64th 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

2022

Assets$33,970,858
Liabilities$13,822,024
Net Assets$20,148,834
Open 2022 Filing

Operations Trend

Revenue Growth49th 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

2022

Revenue$4,208,003
Expenses$2,142,951
Net Income$2,065,052
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 2, 2023
Return Version
2022v5.0
Gross Receipts
$4,208,003
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$12,426,649$12,050,493▼ $376,156
Savings and Temporary Cash Investments$8,007,938$10,057,374▲ $2,049,436
Other Notes and Loans Receivable, Net$8,342,930$8,342,930→ $0
Cash and Non-Interest-Bearing Accounts$235,212$1,067,849▲ $832,637
Investments in Publicly Traded Securities$924,283$0▼ $924,283
Intangible Assets$461,388$448,188▼ $13,200
Prepaid Expenses and Deferred Charges$74,523$139,647▲ $65,124
Accounts Receivable$591$81,073▲ $80,482
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$32,129,114$33,970,858▲ $1,841,744
Other Assets Total$1,655,600$1,783,304▲ $127,704
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,848,008$13,632,799▼ $215,209
Accounts Payable and Accrued Expenses$121,597$113,385▼ $8,212
Other Liabilities$75,727$75,840▲ $113
Total Liabilities$14,045,332$13,822,024▼ $223,308
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$18,083,782$20,148,834▲ $2,065,052
Total Net Assets Fund Balance$18,083,782$20,148,834▲ $2,065,052
Total Liabilities and Net Assets / Fund Balance$32,129,114$33,970,858▲ $1,841,744

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,791,083$4,482,162$16,273,245
Land$243,307-$243,307
Other Land Buildings$16,103$180,418$196,521
Other Assets Org$1,042,248--
Compensation and Service Providers
Top Officer Pay9th 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$155,588
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,088,889
Investment Income
$119,114
Other Revenue
$0
Change in Net Assets
$2,065,052

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,166,034
Revenue Not Reported on Financial Statements
$41,969
Other Revenue Adjustments
$41,969
Total Revenue per Audited Statements
$4,166,034
Total Revenue per Form 990
$4,208,003
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,667,399
Salaries, Compensation, and Employee Benefits$475,552
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$460,123--$460,123
Depreciation Depletion$389,356--$389,356
Other Salaries and Wages$217,054$166,422-$383,476
Fees for Services Management-$155,588-$155,588
Insurance$132,737--$132,737
Other Employee Benefits$34,324$26,318-$60,642
Fees for Services Other-$59,156-$59,156
Payroll Taxes$17,792$13,642-$31,434
Office Expenses-$21,717-$21,717
Other Expenses$3,209$6,876-$6,876
Advertising-$575-$575
All Other Expenses-$20-$20
Total Functional Expenses$1,682,923$460,028$0$2,142,951

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,142,951
Expenses per Audited Statements$2,142,931
Total Expenses per Audited Statements$2,142,931
Expenses Not Reported on Financial Statements$20
Other Expense Adjustments$20
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$71,425
Prepaid Rents$4,415
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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 2

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

Form 990, Part VI, Section A, Line 3

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

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

“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, Section C, Line 19

“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
2023-08-02
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
6
Volunteers
6

Preparer

Firm
Leaf & Cole LLP
Address
2810 Camino Del Rio South Suite 200, San Diego, CA 92108
Preparer
Jenny Kikuno
Phone
6192947200
Supplemental Narrative

Additional Explanations

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, 2022, 2021, 2020, and 2019 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 $41969”

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

“UNAUDITED FEES $20”

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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt020148834
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt021717
IRS990/OfficeExpensesGrp/TotalAmt021717
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01655600
IRS990/OtherAssetsTotalGrp/EOYAmt01783304
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt026318
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt034324
IRS990/OtherEmployeeBenefitsGrp/TotalAmt060642
IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1OPERATING AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc3ADMIN RENT FREE UNIT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt09714
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16876
IRS990/OtherExpensesGrp/ProgramServicesAmt0252497
IRS990/OtherExpensesGrp/ProgramServicesAmt1175831
IRS990/OtherExpensesGrp/ProgramServicesAmt23209
IRS990/OtherExpensesGrp/TotalAmt0252497
IRS990/OtherExpensesGrp/TotalAmt1175831
IRS990/OtherExpensesGrp/TotalAmt212923
IRS990/OtherExpensesGrp/TotalAmt36876
IRS990/OtherLiabilitiesGrp/BOYAmt075727
IRS990/OtherLiabilitiesGrp/EOYAmt075840
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0166422
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0217054
IRS990/OtherSalariesAndWagesGrp/TotalAmt0383476
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt08342930
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt08342930
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013642
IRS990/PayrollTaxesGrp/ProgramServicesAmt017792
IRS990/PayrollTaxesGrp/TotalAmt031434
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt074523
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0139647
IRS990/PrincipalOfficerNm0EMIL J WOHL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/BusinessCd2532000
IRS990/ProgramServiceRevenueGrp/Desc0LAUNDRY & VENDING REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1MISC INCOME
IRS990/ProgramServiceRevenueGrp/Desc2RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03454
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13054
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt24082381
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03454
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13054
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt24082381
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt070608
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01659998
IRS990/PYProgramServiceRevenueAmt03989882
IRS990/PYRevenuesLessExpensesAmt01985906
IRS990/PYSalariesCompEmpBnftPaidAmt0414586
IRS990/PYTotalExpensesAmt02074584
IRS990/PYTotalRevenueAmt04060490
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt02065052
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt04088889
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08007938
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010057374
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0119114
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt070608
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0162314
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0157867
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt068620
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0578523
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt04088889
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt03989882
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03041494
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02445239
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02321187
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt015886691
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0119114
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt070608
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0162314
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0157867
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt068620
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0578523
IRS990ScheduleA/InvestmentIncomeCYPct00.03510
IRS990ScheduleA/InvestmentIncomePYPct00.03460
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96490
IRS990ScheduleA/PublicSupportPY509Pct00.96540
IRS990ScheduleA/PublicSupportTotal509Amt015886691
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt04088889
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt03989882
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt03041494
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt02445239
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02321187
IRS990ScheduleA/Total509Grp/TotalAmt015886691
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt04208003
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt04060490
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt03203808
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02603106
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02389807
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt016465214
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt011791083
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04482162
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt016273245
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt020
IRS990ScheduleD/ExpensesSubtotalAmt02142931
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0243307
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0243307
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0731056
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt110000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21042248
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REPLACEMENT RESERVE
IRS990ScheduleD/OtherExpensesNotIncludedAmt020
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt016103
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0180418
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0196521
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04415
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt171425
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/OtherRevenuesNotIncludedAmt041969
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt041969
IRS990ScheduleD/RevenueSubtotalAmt04166034
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, 2022, 2021, 2020, and 2019 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 $41969
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2UNAUDITED FEES $20
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/TotalBookValueLandBuildingsAmt012050493
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01783304
IRS990ScheduleD/TotalExpensesPerForm990Amt02142951
IRS990ScheduleD/TotalLiabilityAmt075840
IRS990ScheduleD/TotalRevenuePerForm990Amt04208003
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04166034
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02142931
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 IS NOT AUDITED AS A WHOLE. THE HOUSING PROJECT, F.H.A. PROJECT NO. 129-35122, IS THE AUDITED PORTION OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII FINANCIAL STATEMENTS AND REPORTING
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,970,858
Liabilities
$13,822,024
Net assets
$20,148,834
Revenue
$4,208,003
Expenses
$2,142,951
Net income
$2,065,052
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