Civic Intelligence

Casa La Merced Inc C/O Falkenberg/Gilliam & Associates

990 • Fiscal year 2017 • EIN 95-3872758

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 26, 2018

PO Bin 7070Pasadena, CA 91109

(323) 258-3512

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

5th percentile

0.00x

Higher debt load relative to revenue than 5% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

99th percentile

271%

Faster asset growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

1241%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$16,420,178

Up $11,991,285 (+271%) from 2016

Net Assets

Up

$16,392,606

Up $19,384,205 (+648%) from 2016

Liabilities

Down

$27,572

Down $7,392,920 (-100%) from 2016

Revenue

Up

$20,729,929

Up $19,183,747 (+1241%) from 2016

Expenses

Down

$1,345,725

Down $109,048 (-7.5%) from 2016

Net Income

Up

$19,384,204

Up $19,292,795 (+21106%) from 2016

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2011: $5,174,973Liabilities 2011: $8,077,522Net Assets 2011: -$2,902,5492011Assets 2012: $4,867,868Liabilities 2012: $7,887,500Net Assets 2012: -$3,019,6322012Assets 2013: $4,665,228Liabilities 2013: $7,765,323Net Assets 2013: -$3,100,0952013Assets 2014: $4,479,922Liabilities 2014: $7,616,271Net Assets 2014: -$3,136,3492014Assets 2015: $4,365,883Liabilities 2015: $7,451,047Net Assets 2015: -$3,085,1642015Assets 2016: $4,428,893Liabilities 2016: $7,420,492Net Assets 2016: -$2,991,5992016Assets 2017: $16,420,178Liabilities 2017: $27,572Net Assets 2017: $16,392,6062017Assets 2018: $16,093,302Liabilities 2018: $21,339Net Assets 2018: $16,071,9632018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2017

Assets$16,420,178
Liabilities$27,572
Net Assets$16,392,606

Operations Trend

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

$30M$20M$10M$0-$10M-$20MRevenue 2011: $1,437,642Expenses 2011: $1,542,927Net Income 2011: -$105,2852011Revenue 2012: $1,456,794Expenses 2012: $1,573,877Net Income 2012: -$117,0832012Revenue 2013: $1,478,372Expenses 2013: $1,558,835Net Income 2013: -$80,4632013Revenue 2014: $1,500,096Expenses 2014: $1,536,350Net Income 2014: -$36,2542014Revenue 2015: $1,526,831Expenses 2015: $1,475,646Net Income 2015: $51,1852015Revenue 2016: $1,546,182Expenses 2016: $1,454,773Net Income 2016: $91,4092016Revenue 2017: $20,729,929Expenses 2017: $1,345,725Net Income 2017: $19,384,2042017Revenue 2018: $227,553Expenses 2018: $427,820Net Income 2018: -$200,2672018Revenue 2019: $52,026Expenses 2019: $16,202,725Net Income 2019: -$16,150,6992019

Highlighted filing

2017

Revenue$20,729,929
Expenses$1,345,725
Net Income$19,384,204
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 26, 2018
Return Version
2016v3.0
Gross Receipts
$24,707,986
Mission and Program Overview

Mission

To provide elderly and handicapped persons with housing facilities and services specifically designed to meet their physical, social and psychological needs and to promote their health, security and usefulness in longer living.

Provides subsidized housing to 129 elderly individuals with low incomes. The operations of the entity are administered by a management company and supervised by an elected board of directors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$624,785$16,380,244▲ $15,755,459
Land, Buildings, and Equipment, Net$3,730,960$0▼ $3,730,960
Prepaid Expenses and Deferred Charges$37,686$39,934▲ $2,248
Accounts Receivable$2,052--
Total Assets$4,428,893$16,420,178▲ $11,991,285
Other Assets Total$33,410$0▼ $33,410
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,161,684--
Other Liabilities$228,092$0▼ $228,092
Accounts Payable and Accrued Expenses$30,716$27,572▼ $3,144
Total Liabilities$7,420,492$27,572▼ $7,392,920
Net Assets / Fund Balance
Unrestricted Net Assets$-2,991,599$16,392,606▲ $19,384,205
Total Net Assets Fund Balance$-2,991,599$16,392,606▲ $19,384,205
Total Liabilities and Net Assets / Fund Balance$4,428,893$16,420,178▲ $11,991,285
Compensation and Service Providers

Board Members and Trustees

NameTitle
Artemio NavarroPresident
Tom MalkasianVice President
Dr James a LemusDirector
Jeri ChinarianTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,098,704
Program Service Revenue
$402,688
Investment Income
$19,228,537
Other Revenue
$0
Change in Net Assets
$19,384,204

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,729,929
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$20,729,929
Total Revenue per Form 990
$20,729,929
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,087,524
Salaries, Compensation, and Employee Benefits$258,201
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$395,737--$395,737
Other Salaries and Wages$197,800--$197,800
Depreciation Depletion$182,460--$182,460
Fees for Services Management-$101,181-$101,181
All Other Expenses$85,866--$85,866
Other Employee Benefits$45,003--$45,003
Insurance$36,082--$36,082
Fees for Services Accounting-$21,723-$21,723
Fees for Services Legal-$21,604-$21,604
Other Expenses$18,103--$18,103
Payroll Taxes$15,398--$15,398
Office Expenses$90$12,126-$12,216
Total Functional Expenses$1,189,091$156,634$0$1,345,725

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,345,725
Total Expenses per Audited Statements$1,345,725
Total Expenses per Form 990$1,345,725
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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

Retained falkenberg/gilliam & associates, inc. As approved management company for day-to-day management and operations. The company operates residential property for low income families and is subject to rules and regulations of the u.s. Department of housing and urban development (hud). Falkenberg/gilliam & associates specialized in managing hud assisted projects to ensure compliance with hud's rules and regulations.

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

The company is audited. During the audit the auditor works with the management company and a board officer to obtain the necessary information to prepare the form 990. The form 990 is reviewed by falkenberg/gilliam finance department then is forwarded to the board officer for review and signature.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Casa La Merced Inc
EIN
95-3872758
Phone
3232583512
Address
PO BIN 7070, PASADENA, CA 91109

Signing Officer

Name
Artemio Navarro
Title
President
Phone
3232583512
Signed
2018-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Artemio Navarro
Formed
1983
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
5
Volunteers
0

Preparer

Firm
Kkaj Llp
Address
27200 TOURNEY ROAD STE 475, VALENCIA, CA 91355
Preparer
Thomas E Engman
Phone
6617054222
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Management reviews the status of all tax positions annually to determine if any tax position should affect the company's financial statements. Management estimates that no tax positions taken by the company would be adjusted by taxing authorities under examination. The company's tax returns are still subject to examination by various tax authorities for tax years ending on or after june 30, 2013.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01495313
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01473151
IRS990ScheduleA/Total509Grp/TotalAmt07541781
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01502001
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01546182
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01526831
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01500096
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01478364
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07553474
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/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01345725
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt020729929
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT REVIEWS THE STATUS OF ALL TAX POSITIONS ANNUALLY TO DETERMINE IF ANY TAX POSITION SHOULD AFFECT THE COMPANY'S FINANCIAL STATEMENTS. MANAGEMENT ESTIMATES THAT NO TAX POSITIONS TAKEN BY THE COMPANY WOULD BE ADJUSTED BY TAXING AUTHORITIES UNDER EXAMINATION. THE COMPANY'S TAX RETURNS ARE STILL SUBJECT TO EXAMINATION BY VARIOUS TAX AUTHORITIES FOR TAX YEARS ENDING ON OR AFTER JUNE 30, 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01345725
IRS990ScheduleD/TotalRevenuePerForm990Amt020729929
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt020729929
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01345725
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0THE ORGANIZATION SOLD ITS APARTMENT BUILDING. THE PROCEEDS WILL BE DISTRIBUTION TO 501(C)(3) ORGANIZATIONS.
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0CASA LA MERCED LP
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02017-06-14
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt023205985
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0LOW INCOME PROPERTY MANAGEMENT COMPANY
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0THE FAIR MARKET VALUE OF THE APARTMENT BUILDING.
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt06060 POPLAR AVE SUITE 425
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0MEMPHIS
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0TN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd038119
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RETAINED FALKENBERG/GILLIAM & ASSOCIATES, INC. AS APPROVED MANAGEMENT COMPANY FOR DAY-TO-DAY MANAGEMENT AND OPERATIONS. THE COMPANY OPERATES RESIDENTIAL PROPERTY FOR LOW INCOME FAMILIES AND IS SUBJECT TO RULES AND REGULATIONS OF THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). FALKENBERG/GILLIAM & ASSOCIATES SPECIALIZED IN MANAGING HUD ASSISTED PROJECTS TO ENSURE COMPLIANCE WITH HUD'S RULES AND REGULATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COMPANY IS AUDITED. DURING THE AUDIT THE AUDITOR WORKS WITH THE MANAGEMENT COMPANY AND A BOARD OFFICER TO OBTAIN THE NECESSARY INFORMATION TO PREPARE THE FORM 990. THE FORM 990 IS REVIEWED BY FALKENBERG/GILLIAM FINANCE DEPARTMENT THEN IS FORWARDED TO THE BOARD OFFICER FOR REVIEW AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN ADDITION TO THE FORM 990 BEING AVAILABLE UPON REQUEST, IT IS AVAILABLE THROUGH GUIDESTAR.ORG.
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04428893
IRS990/TotalAssetsEOYAmt016420178
IRS990/TotalAssetsGrp/BOYAmt04428893
IRS990/TotalAssetsGrp/EOYAmt016420178
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01098704
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0156634
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01189091
IRS990/TotalFunctionalExpensesGrp/TotalAmt01345725
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07420492
IRS990/TotalLiabilitiesEOYAmt027572
IRS990/TotalLiabilitiesGrp/BOYAmt07420492
IRS990/TotalLiabilitiesGrp/EOYAmt027572
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2991599
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt016392606
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01189091
IRS990/TotalProgramServiceRevenueAmt0402688
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt019228537
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0402688
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt020729929
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04428893
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016420178
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2991599
IRS990/UnrestrictedNetAssetsGrp/EOYAmt016392606
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BIN 7070
IRS990/USAddress/CityNm0PASADENA
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd091109
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ARTEMIO NAVARRO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03232583512
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CASA LA MERCED INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O FALKENBERG/GILLIAM & ASSOCIATES
ReturnHeader/Filer/BusinessNameControlTxt0CASA
ReturnHeader/Filer/EIN0953872758
ReturnHeader/Filer/PhoneNum03232583512
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BIN 7070
ReturnHeader/Filer/USAddress/CityNm0PASADENA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd091109
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08742FB44655F8AE289DDA0792A6EF57F75A83786
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05B8315649CC8E52E15D071168195CB26AE5165D7
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02018-04-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm013:16:10
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0463462919
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KKAJ LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt027200 TOURNEY ROAD STE 475

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