Civic Intelligence

Los Angeles County Housing Development Corporation

990 • Fiscal year 2019 • EIN 95-4269192

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 09, 2020

700 W Main StreetAlhambra, CA 91801

(626) 296-6298

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.04x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

8.90x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

9th percentile

-31%

Higher net margin than 9% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

20th percentile

-3.8%

Faster asset growth than 20% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

16th percentile

-16%

Faster revenue growth than 16% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$9,782,484

Down $383,010 (-3.8%) from 2018

Net Assets

Down

-$369,350

Down $352,372 (-2075%) from 2018

Liabilities

Down

$10,151,834

Down $30,638 (-0.3%) from 2018

Revenue

Down

$1,141,109

Down $216,599 (-16%) from 2018

Expenses

Up

$1,493,481

Up $15,494 (+1.0%) from 2018

Net Income

Down

-$352,372

Down $232,093 (-193%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $1,286,452Liabilities 2010: $3,670,493Net Assets 2010: -$2,384,0412010Assets 2011: $1,478,880Liabilities 2011: $3,820,797Net Assets 2011: -$2,341,9172011Assets 2012: $1,882,209Liabilities 2012: $4,027,833Net Assets 2012: -$2,145,6242012Assets 2013: $1,616,242Liabilities 2013: $3,837,807Net Assets 2013: -$2,221,5652013Assets 2014: $3,368,993Liabilities 2014: $4,045,042Net Assets 2014: -$676,0492014Assets 2015: $3,910,996Liabilities 2015: $4,694,332Net Assets 2015: -$783,3362015Assets 2016: $9,833,978Liabilities 2016: $10,181,450Net Assets 2016: -$347,4722016Assets 2017: $10,143,177Liabilities 2017: $10,039,990Net Assets 2017: $103,1872017Assets 2018: $10,165,494Liabilities 2018: $10,182,472Net Assets 2018: -$16,9782018Assets 2019: $9,782,484Liabilities 2019: $10,151,834Net Assets 2019: -$369,3502019Assets 2020: $9,813,201Liabilities 2020: $10,335,254Net Assets 2020: -$522,0532020Assets 2021: $9,882,172Liabilities 2021: $10,470,887Net Assets 2021: -$588,7152021Assets 2022: $10,667,458Liabilities 2022: $11,476,907Net Assets 2022: -$809,4492022Assets 2023: $10,565,254Liabilities 2023: $11,768,570Net Assets 2023: -$1,203,3162023Assets 2024: $10,532,612Liabilities 2024: $12,163,765Net Assets 2024: -$1,631,1532024

Highlighted filing

2019

Assets$9,782,484
Liabilities$10,151,834
Net Assets-$369,350

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $839,7532010Expenses 2011: $508,0932011Expenses 2012: $502,9372012Revenue 2013: $428,129Expenses 2013: $504,070Net Income 2013: -$75,9412013Revenue 2014: $1,496,496Expenses 2014: $595,752Net Income 2014: $900,7442014Revenue 2015: $695,513Expenses 2015: $802,799Net Income 2015: -$107,2862015Revenue 2016: $711,075Expenses 2016: $925,699Net Income 2016: -$214,6242016Revenue 2017: $1,965,511Expenses 2017: $1,514,852Net Income 2017: $450,6592017Revenue 2018: $1,357,708Expenses 2018: $1,477,987Net Income 2018: -$120,2792018Revenue 2019: $1,141,109Expenses 2019: $1,493,481Net Income 2019: -$352,3722019Revenue 2020: $1,251,988Expenses 2020: $1,404,691Net Income 2020: -$152,7032020Revenue 2021: $1,268,108Expenses 2021: $1,334,770Net Income 2021: -$66,6622021Revenue 2022: $1,239,064Expenses 2022: $1,459,796Net Income 2022: -$220,7322022Revenue 2023: $1,157,900Expenses 2023: $1,551,767Net Income 2023: -$393,8672023Revenue 2024: $1,281,975Expenses 2024: $1,709,812Net Income 2024: -$427,8372024

Highlighted filing

2019

Revenue$1,141,109
Expenses$1,493,481
Net Income-$352,372
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 9, 2020
Return Version
2019v5.1
Gross Receipts
$1,141,109
Mission and Program Overview

Mission

Los angeles county housing development corporation was incorporated on october 16, 1989 as a nonprofit public benefit corporation, to construct, own and operate a 35 unit apartment project located in the unincorporated willowbrook area of los angeles county, california, known as cannon apartments project (the "project"). The project was endorsed for insurance under section 241(f) of the national housing act, with the secretary of housing and urban development. All of the units qualify for federal rent subsidy pursuant to section 8 of the u.s. Housing act of 1937, as amended.

Los angeles county housing development corporation was incorporated on october 16, 1989 as a nonprofit public benefit corporation, to construct, own and operate a 35 unit apartment project located in the unincorporated willowbrook area of los angeles county, california, known as cannon apartments project. The project was endorsed for insurance under section 241(f) of the national housing act, with the secretary of housing and urban development. All of the units qualify for federal rent subsidy pursuant to section 8 of the u.s. Housing act of 1937, as amended.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,138,561$6,896,899▼ $241,662
Cash and Non-Interest-Bearing Accounts$1,450,251$1,816,044▲ $365,793
Investments Program Related$552,392$552,640▲ $248
Accounts Receivable$956,201$454,109▼ $502,092
Intangible Assets$11,539$10,816▼ $723
Prepaid Expenses and Deferred Charges$1,053$1,053→ $0
Total Assets$10,165,494$9,782,484▼ $383,010
Other Assets Total$55,497$50,923▼ $4,574
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,417,883$9,417,883→ $0
Accounts Payable and Accrued Expenses$618,621$573,398▼ $45,223
Other Liabilities$142,946$158,962▲ $16,016
Deferred Revenue$3,022$1,591▼ $1,431
Total Liabilities$10,182,472$10,151,834▼ $30,638
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-16,978$-369,350▼ $352,372
Total Net Assets Fund Balance$-16,978$-369,350▼ $352,372
Total Liabilities and Net Assets / Fund Balance$10,165,494$9,782,484▼ $383,010

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,969,923$2,782,857$8,752,780
Land$455,816-$455,816
Equipment$239,996$163,316$403,312
Leasehold Improvements$231,164$25,918$257,082
Investment Program Related Org$351,240--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joseph KellyChairman
Manuel SalazarVice Chairman
Emilio SalasDirector
Keith KnoxDirector
Tiena Johnson-hallSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$461,439
Program Service Revenue
$671,159
Investment Income
$522
Other Revenue
$7,989
Change in Net Assets
$-352,372

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,141,109
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$604,412
Total Revenue per Audited Statements
$1,745,521
Total Revenue per Form 990
$1,141,109
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,493,481
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$861,872--$861,872
Depreciation Depletion$242,385--$242,385
Office Expenses-$88,550-$88,550
Fees for Services Management-$67,669-$67,669
Fees for Services Accounting-$66,173-$66,173
Insurance$19,503--$19,503
Fees for Services Legal-$16,645-$16,645
Other Expenses$9,773--$9,773
Total Functional Expenses$1,254,444$239,037$0$1,493,481

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,275,780
Expenses per Audited Statements$1,493,481
Total Expenses per Form 990$1,493,481
Expenses Not Reported on Form 990$782,299
Expenses Not Reported on Financial Statements$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
Investment in Segundo Terrace$79,027
Security Deposits$50,492
Accounts Payable - Entity$20,361
Investment in Villa Nueva$8,918
Due to Affiliate$113
Investment in Athens Vista$51
Governance and Compliance

Governance Checklist

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

The cannon apartment complex is managed by levine management group, a professional property management company. Levine management group has a project owners and management agents certification for multifamily housing projects with the u.s. Department of housing and urban development. Under this certification, hud has approved levine management group to manage the cannon apartment complex. The management contract encompasses the day to day operations of the project including, but not limited to collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.

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

The auditing firm sends a draft of the return to the management company. The management company forwards a copy of the return to each board member for their comments prior to filing.

Form 990, Part VI, Section B, Line 15

The organization does not compensate officers or key employees (see page 7, part vii).

Form 990, Part VI, Section C, Line 19

The form 990 and all related financial and policy information are made available to the public upon written request. All document requests are forwarded to the secretary who compiles the information and provides it to the requestor.

Part VII, Section A, Line 1A, Column B

All of the officers, directors, and employees listed in part vii, section a perform similar duties and have similar responsibilities for related organizations as they do for this organization. Their total hours worked per week for this organization are similar to their hours worked for related organizations both in terms of number of hours and type of work performed. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.

Filing and Contact Details

Filer

Filer Name
Los Angeles County Housing Development
EIN
95-4269192
Phone
6262966298
Address
700 W MAIN STREET, ALHAMBRA, CA 91801

Signing Officer

Name
Carolina Romo
Title
Authorized Signer
Phone
6262966298
Signed
2020-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Kelly
Formed
1989
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Jacob a Sowers
Phone
3178485700
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The management company receives a copy of the audit. Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.

Financial Statement Notes

PART X, LINE 2:

The corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and state income tax and has been classified as an other than private foundation. Accordingly, no provision for federal and state taxes on revenue and income has been recognized in the accompanying consolidated financial statements. Generally, the federal and state tax returns were subject to examinations from the three years after the later of the original or extended due date or the date filed by the applicable tax authority. Willowbrook townhomes, altadena vistas, segundo terrace, and guadalupe terrace are treated as pass-through entities for income tax purposes and, as such, are not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by their owners on their respective income tax returns. These entities' federal tax statuses as pass-through entities are based on their legal status as limited partnerships and limited liability companies. Accordingly, these entities are not required to take any tax positions in order to qualify as pass-through entities. These entities are required to file and do file tax returns with the internal revenue service and other taxing authorities. Accordingly, these consolidated financial statements do not reflect a provision for income taxes and these entities have no other tax positions which they must consider for disclosure. There has been no interest or penalties recognized in the consolidated statements of profit and loss - changes in net assets - without donor restrictions or consolidated statements of financial position for the years ended december 31, 2019 and 2018. Generally, the federal returns are subject to examination for three years after the later of the original or extended due date or the date filed with the applicable tax authority.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Investment in altadena apartments, lp and segundo terrace, lp book/tax difference in revenue 604,412.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Investment in altadena apartments, lp and segundo terrace, lp book/tax differences in expenses 782,299.

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IRS990/MissionDesc0LOS ANGELES COUNTY HOUSING DEVELOPMENT CORPORATION WAS INCORPORATED ON OCTOBER 16, 1989 AS A NONPROFIT PUBLIC BENEFIT CORPORATION, TO CONSTRUCT, OWN AND OPERATE A 35 UNIT APARTMENT PROJECT LOCATED IN THE UNINCORPORATED WILLOWBROOK AREA OF LOS ANGELES COUNTY, CALIFORNIA, KNOWN AS CANNON APARTMENTS PROJECT (THE "PROJECT"). THE PROJECT WAS ENDORSED FOR INSURANCE UNDER SECTION 241(F) OF THE NATIONAL HOUSING ACT, WITH THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT. ALL OF THE UNITS QUALIFY FOR FEDERAL RENT SUBSIDY PURSUANT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937, AS AMENDED.
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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-16978
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-369350
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0861872
IRS990/OccupancyGrp/TotalAmt0861872
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt088550
IRS990/OfficeExpensesGrp/TotalAmt088550
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt055497
IRS990/OtherAssetsTotalGrp/EOYAmt050923
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MANAGEMENT COMPANY EMPL
IRS990/OtherExpensesGrp/Desc1BAD DEBTS
IRS990/OtherExpensesGrp/ProgramServicesAmt0120911
IRS990/OtherExpensesGrp/ProgramServicesAmt19773
IRS990/OtherExpensesGrp/TotalAmt0120911
IRS990/OtherExpensesGrp/TotalAmt19773
IRS990/OtherLiabilitiesGrp/BOYAmt0142946
IRS990/OtherLiabilitiesGrp/EOYAmt0158962
IRS990/OtherRevenueMiscGrp/BusinessCd0531110
IRS990/OtherRevenueMiscGrp/BusinessCd1531110
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE-MISC.
IRS990/OtherRevenueMiscGrp/Desc1TENANT CHARGES
IRS990/OtherRevenueMiscGrp/ExclusionAmt07944
IRS990/OtherRevenueMiscGrp/ExclusionAmt145
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt07944
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt145
IRS990/OtherRevenueTotalAmt07989
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01053
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01053
IRS990/PrincipalOfficerNm0JOSEPH KELLY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/BusinessCd3531110
IRS990/ProgramServiceRevenueGrp/BusinessCd4531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INVESTOR SERVIE FEE IN
IRS990/ProgramServiceRevenueGrp/Desc2INVESTMENT ACTIVITY IN
IRS990/ProgramServiceRevenueGrp/Desc3INVESTMENT IN ATHENS V
IRS990/ProgramServiceRevenueGrp/Desc4INVESTMENT ACTIVITY IN
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0645398
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt158629
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2-12
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3-94
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4-106
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0645398
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt158629
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-12
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3-94
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4-106
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0468926
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0313
IRS990/PYOtherExpensesAmt01477987
IRS990/PYOtherRevenueAmt09457
IRS990/PYProgramServiceRevenueAmt0879012
IRS990/PYRevenuesLessExpensesAmt0-120279
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01477987
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01357708
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-352372
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0671159
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0461439
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0468926
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0458536
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0425616
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0455562
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02270079
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0522
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0313
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02759
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt02428
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01808
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt07830
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03622495
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt07989
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt09457
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt033701
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt07827
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt012038
IRS990ScheduleA/OtherIncome170Grp/TotalAmt071012
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96640
IRS990ScheduleA/PublicSupportPY170Pct00.96680
IRS990ScheduleA/PublicSupportTotal170Amt02270079
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0461439
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0468926
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0458536
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0425616
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0455562
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02270079
IRS990ScheduleA/TotalSupportAmt02348921
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/BookValueAmt05969923
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02782857
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08752780
IRS990ScheduleD/EquipmentGrp/BookValueAmt0239996
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0163316
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0403312
IRS990ScheduleD/ExpensesNotReportedAmt0782299
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01493481
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0201400
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1351240
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0RESERVE REPLACEMENT FUND
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1INVESTMENT IN ALTADENA VISTA
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt0455816
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0455816
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0231164
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt025918
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0257082
IRS990ScheduleD/OtherExpensesIncludedAmt0782299
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt079027
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120361
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt250492
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3113
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt48918
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt551
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INVESTMENT IN SEGUNDO TERRACE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCOUNTS PAYABLE - ENTITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DUE TO AFFILIATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4INVESTMENT IN VILLA NUEVA
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5INVESTMENT IN ATHENS VISTA
IRS990ScheduleD/OtherRevenueAmt0604412
IRS990ScheduleD/RevenueNotReportedAmt0604412
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01141109
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED BY THE APPLICABLE TAX AUTHORITY. WILLOWBROOK TOWNHOMES, ALTADENA VISTAS, SEGUNDO TERRACE, AND GUADALUPE TERRACE ARE TREATED AS PASS-THROUGH ENTITIES FOR INCOME TAX PURPOSES AND, AS SUCH, ARE NOT SUBJECT TO INCOME TAXES. RATHER, ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS ARE PASSED THROUGH TO AND ARE REPORTED BY THEIR OWNERS ON THEIR RESPECTIVE INCOME TAX RETURNS. THESE ENTITIES' FEDERAL TAX STATUSES AS PASS-THROUGH ENTITIES ARE BASED ON THEIR LEGAL STATUS AS LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES. ACCORDINGLY, THESE ENTITIES ARE NOT REQUIRED TO TAKE ANY TAX POSITIONS IN ORDER TO QUALIFY AS PASS-THROUGH ENTITIES. THESE ENTITIES ARE REQUIRED TO FILE AND DO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THESE ENTITIES HAVE NO OTHER TAX POSITIONS WHICH THEY MUST CONSIDER FOR DISCLOSURE. THERE HAS BEEN NO INTEREST OR PENALTIES RECOGNIZED IN THE CONSOLIDATED STATEMENTS OF PROFIT AND LOSS - CHANGES IN NET ASSETS - WITHOUT DONOR RESTRICTIONS OR CONSOLIDATED STATEMENTS OF FINANCIAL POSITION FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018. GENERALLY, THE FEDERAL RETURNS ARE SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INVESTMENT IN ALTADENA APARTMENTS, LP AND SEGUNDO TERRACE, LP BOOK/TAX DIFFERENCE IN REVENUE 604,412.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2INVESTMENT IN ALTADENA APARTMENTS, LP AND SEGUNDO TERRACE, LP BOOK/TAX DIFFERENCES IN EXPENSES 782,299.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06896899
IRS990ScheduleD/TotalBookValueProgramRltdAmt0552640
IRS990ScheduleD/TotalExpensesPerForm990Amt01493481
IRS990ScheduleD/TotalLiabilityAmt0158962
IRS990ScheduleD/TotalRevenuePerForm990Amt01141109
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01745521
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02275780
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CANNON APARTMENT COMPLEX IS MANAGED BY LEVINE MANAGEMENT GROUP, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. LEVINE MANAGEMENT GROUP HAS A PROJECT OWNERS AND MANAGEMENT AGENTS CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED LEVINE MANAGEMENT GROUP TO MANAGE THE CANNON APARTMENT COMPLEX. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE AUDITING FIRM SENDS A DRAFT OF THE RETURN TO THE MANAGEMENT COMPANY. THE MANAGEMENT COMPANY FORWARDS A COPY OF THE RETURN TO EACH BOARD MEMBER FOR THEIR COMMENTS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR KEY EMPLOYEES (SEE PAGE 7, PART VII).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. ALL DOCUMENT REQUESTS ARE FORWARDED TO THE SECRETARY WHO COMPILES THE INFORMATION AND PROVIDES IT TO THE REQUESTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL OF THE OFFICERS, DIRECTORS, AND EMPLOYEES LISTED IN PART VII, SECTION A PERFORM SIMILAR DUTIES AND HAVE SIMILAR RESPONSIBILITIES FOR RELATED ORGANIZATIONS AS THEY DO FOR THIS ORGANIZATION. THEIR TOTAL HOURS WORKED PER WEEK FOR THIS ORGANIZATION ARE SIMILAR TO THEIR HOURS WORKED FOR RELATED ORGANIZATIONS BOTH IN TERMS OF NUMBER OF HOURS AND TYPE OF WORK PERFORMED. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, A COPY OF THE AUDIT IS GIVEN TO ALL OF THE BOARD MEMBERS FOR THEIR COMMENTS. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM.
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VII, SECTION A, LINE 1A, COLUMN B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0WILLOWBROOK TOWNHOMES LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1ATHENS VISTAS LP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2GUADALUPE TERRACE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0471343670
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1364817817
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2471348580
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd2CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0PROVIDE AFFORDABLE HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1PROVIDE AFFORDABLE HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt2PROVIDE AFFORDABLE HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt02400 N LINCOLN AVENUE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt12400 N LINCOLN AVENUE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt22400 N LINCOLN AVENUE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0ALTADENA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1ALTADENA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm2ALTADENA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd2CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd091001
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd191001
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd291001
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd10
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0330657184
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN1954618640
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd10
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0CA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.5$12.2$1.63$1.28$1.71$0.43
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.6$11.8$1.20$1.16$1.55$0.39
2022Detailed filing. Detailed filing data is available for this year.$10.7$11.5$0.81$1.24$1.46$0.22
2021Detailed filing. Detailed filing data is available for this year.$9.88$10.5$0.59$1.27$1.33$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.81$10.3$0.52$1.25$1.40$0.15
2019Detailed filing. Detailed filing data is available for this year.$9.78$10.2$0.37$1.14$1.49$0.35
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.2$10.2$0.02$1.36$1.48$0.12
2017Detailed filing. Detailed filing data is available for this year.$10.1$10.0$0.10$1.97$1.51$0.45
2016Detailed filing. Detailed filing data is available for this year.$9.83$10.2$0.35$0.71$0.93$0.21
2015Detailed filing. Detailed filing data is available for this year.$3.91$4.69$0.78$0.70$0.80$0.11
2014Detailed filing. Detailed filing data is available for this year.$3.37$4.05$0.68$1.50$0.60$0.90
2013Detailed filing. Detailed filing data is available for this year.$1.62$3.84$2.22$0.43$0.50$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.88$4.03$2.15$0.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$3.82$2.34$0.51
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.29$3.67$2.38$0.84