Civic Intelligence

Verdugo Tower Inc.

990 • Fiscal year 2020 • EIN 95-4401836

Apr 01, 2019 to Mar 31, 2020 • Filed on Feb 03, 2021

Organization ProfileN/A
PO Box 7070Pasadena, CA 91109-7070

(323) 258-3512

Siviq Scores

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

Liabilities / Assets

21st percentile

0.02x

Higher debt load relative to assets than 21% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

31st percentile

0.10x

Higher debt load relative to revenue than 31% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

11th percentile

-27%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

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.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

14th percentile

-4.3%

Faster asset growth than 14% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

52nd percentile

2.6%

Faster revenue growth than 52% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$5,330,723

Down $238,713 (-4.3%) from 2019

Net Assets

Down

$5,240,490

Down $246,866 (-4.5%) from 2019

Liabilities

Up

$90,233

Up $8,153 (+9.9%) from 2019

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin11th percentile

Revenue

Up

$914,683

Up $23,044 (+2.6%) from 2019

Expenses

Down

$1,161,549

Down $45,027 (-3.7%) from 2019

Net Income

Up

-$246,866

Up $68,071 (+22%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $7,593,682Liabilities 2011: $57,107Net Assets 2011: $7,536,5752011Assets 2012: $7,290,042Liabilities 2012: $41,740Net Assets 2012: $7,248,3022012Assets 2013: $7,140,932Liabilities 2013: $56,144Net Assets 2013: $7,084,7882013Assets 2014: $7,051,202Liabilities 2014: $115,224Net Assets 2014: $6,935,9782014Assets 2015: $6,843,417Liabilities 2015: $91,802Net Assets 2015: $6,751,6152015Assets 2016: $6,619,606Liabilities 2016: $60,725Net Assets 2016: $6,558,8812016Assets 2017: $6,147,925Liabilities 2017: $50,948Net Assets 2017: $6,096,9772017Assets 2018: $5,897,263Liabilities 2018: $94,970Net Assets 2018: $5,802,2932018Assets 2019: $5,569,436Liabilities 2019: $82,080Net Assets 2019: $5,487,3562019Assets 2020: $5,330,723Liabilities 2020: $90,233Net Assets 2020: $5,240,4902020Assets 2021: $5,153,076Liabilities 2021: $85,475Net Assets 2021: $5,067,6012021Assets 2022: $4,926,655Liabilities 2022: $99,462Net Assets 2022: $4,827,1932022Assets 2023: $5,170,847Liabilities 2023: $93,974Net Assets 2023: $5,076,8732023Assets 2025: $6,350,937Liabilities 2025: $88,169Net Assets 2025: $6,262,7682025

Highlighted filing

2020

Assets$5,330,723
Liabilities$90,233
Net Assets$5,240,490
Open 2020 Filing

Operations Trend

Revenue Growth52nd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $952,5582011Revenue 2012: $754,573Expenses 2012: $1,042,846Net Income 2012: -$288,2732012Expenses 2013: $951,2062013Revenue 2014: $831,595Expenses 2014: $980,405Net Income 2014: -$148,8102014Revenue 2015: $835,955Expenses 2015: $1,020,318Net Income 2015: -$184,3632015Revenue 2016: $836,465Expenses 2016: $1,029,199Net Income 2016: -$192,7342016Revenue 2017: $839,544Expenses 2017: $1,301,448Net Income 2017: -$461,9042017Revenue 2018: $863,993Expenses 2018: $1,158,677Net Income 2018: -$294,6842018Revenue 2019: $891,639Expenses 2019: $1,206,576Net Income 2019: -$314,9372019Revenue 2020: $914,683Expenses 2020: $1,161,549Net Income 2020: -$246,8662020Revenue 2021: $988,858Expenses 2021: $1,161,747Net Income 2021: -$172,8892021Revenue 2022: $993,944Expenses 2022: $1,234,352Net Income 2022: -$240,4082022Revenue 2023: $1,453,285Expenses 2023: $1,203,605Net Income 2023: $249,6802023Revenue 2025: $2,684,889Expenses 2025: $1,326,590Net Income 2025: $1,358,2992025

Highlighted filing

2020

Revenue$914,683
Expenses$1,161,549
Net Income-$246,866
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Feb 3, 2021
Return Version
2019v5.2
Gross Receipts
$914,683
Mission and Program Overview

Mission

To provide low income housing to elderly and handicapped persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,247,212$4,967,232▼ $279,980
Savings and Temporary Cash Investments$14,098$37,150▲ $23,052
Prepaid Expenses and Deferred Charges$16,540$17,480▲ $940
Total Assets$5,569,436$5,330,723▼ $238,713
Other Assets Total$291,586$308,861▲ $17,275
Liabilities
Accounts Payable and Accrued Expenses$53,178$59,651▲ $6,473
Other Liabilities$28,902$30,582▲ $1,680
Total Liabilities$82,080$90,233▲ $8,153
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,487,356$5,240,490▼ $246,866
Total Net Assets Fund Balance$5,487,356$5,240,490▼ $246,866
Total Liabilities and Net Assets / Fund Balance$5,569,436$5,330,723▼ $238,713

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,466,732$6,327,685$10,794,417
Land$500,500-$500,500
Equipment$0$45,825$45,825
Other Assets Org$441--
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Elvan MoenPresident
Revis CallVice President
Beatrice WainrightDirector
Brian CaseyDirector
Carolyn EnglishDirector
Craig HunterDirector
Laureen EndosoDirector
Rev Chris FracchoiollaDirector
Rev Inman MooreDirector
Rev Sam B KimDirector
Robert AndersonDirector
Sue EverhartDirector
Lisa FikeSecretary
Jane CaseyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Falkenberggilliam & AssociatesManagement FeePO BOX 7070, Pasadena, CA 91109$108,666
Revenue and Support

Revenue Composition

Contributions and Grants
$486,612
Program Service Revenue
$425,221
Investment Income
$2,850
Other Revenue
$0
Change in Net Assets
$-246,866

Audited Revenue Reconciliation

Revenue per Audited Statements
$914,683
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$914,683
Total Revenue per Form 990
$914,683
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$871,979
Salaries, Compensation, and Employee Benefits$289,570
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$279,980--$279,980
Other Salaries and Wages$115,956$111,210-$227,166
Fees for Services Management-$108,666-$108,666
All Other Expenses$38,499$22,675-$61,174
Other Employee Benefits$22,847$21,911-$44,758
Insurance$40,609--$40,609
Fees for Services Accounting-$29,529-$29,529
Payroll Taxes$9,007$8,639-$17,646
Other Expenses$55,724$13,119-$13,119
Fees for Services Legal-$987-$987
Total Functional Expenses$844,813$316,736$0$1,161,549

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,161,549
Total Expenses per Audited Statements$1,161,549
Total Expenses per Form 990$1,161,549
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$30,582
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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
Yes
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

“Jane casey and brian casey have a family relationship. Neither receives any compensation.”

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
Verdugo Tower Inc
EIN
95-4401836
Phone
3232583512
Address
PO BOX 7070, PASADENA, CA 91109-7070

Signing Officer

Name
Elvan Moen
Title
President
Phone
3232583512
Signed
2021-02-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elvan Moen
Formed
1982
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
8
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 march 31, 2016.”

Raw XML AppendixShowing 400 of 551 raw XML fields

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

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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0291586
IRS990/OtherAssetsTotalGrp/EOYAmt0308861
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt021911
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt022847
IRS990/OtherEmployeeBenefitsGrp/TotalAmt044758
IRS990/OtherExpensesGrp/Desc0CONTRACTS
IRS990/OtherExpensesGrp/Desc1UTILITIES
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3OFFICE SUPPLIES
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IRS990/OtherExpensesGrp/ProgramServicesAmt1107356
IRS990/OtherExpensesGrp/ProgramServicesAmt255724
IRS990/OtherExpensesGrp/TotalAmt0174835
IRS990/OtherExpensesGrp/TotalAmt1107356
IRS990/OtherExpensesGrp/TotalAmt255724
IRS990/OtherExpensesGrp/TotalAmt313119
IRS990/OtherLiabilitiesGrp/BOYAmt028902
IRS990/OtherLiabilitiesGrp/EOYAmt030582
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0111210
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0115956
IRS990/OtherSalariesAndWagesGrp/TotalAmt0227166
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08639
IRS990/PayrollTaxesGrp/ProgramServicesAmt09007
IRS990/PayrollTaxesGrp/TotalAmt017646
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt016540
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt017480
IRS990/PrincipalOfficerNm0ELVAN MOEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0RENT
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY & VENDING
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14890
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0420331
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14890
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0482203
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01858
IRS990/PYOtherExpensesAmt0938414
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0407578
IRS990/PYRevenuesLessExpensesAmt0-314937
IRS990/PYSalariesCompEmpBnftPaidAmt0268162
IRS990/PYTotalExpensesAmt01206576
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0891639
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-246866
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0425221
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014098
IRS990/SavingsAndTempCashInvstGrp/EOYAmt037150
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0486612
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0482203
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0468482
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0436752
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0426554
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02300603
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt02850
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01858
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0834
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0599
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt08336
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt014477
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0425221
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0407578
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0394677
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0402193
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0409078
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02038747
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt02850
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01858
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0834
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0599
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt08336
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt014477
IRS990ScheduleA/InvestmentIncomeCYPct00.00330
IRS990ScheduleA/InvestmentIncomePYPct00.00290
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99670
IRS990ScheduleA/PublicSupportPY509Pct00.99710
IRS990ScheduleA/PublicSupportTotal509Amt04339350
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0911833
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0889781
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0863159
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0838945
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0835632
IRS990ScheduleA/Total509Grp/TotalAmt04339350
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0914683
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0891639
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0863993
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0839544
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0843968
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04353827
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/BookValueAmt04466732
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06327685
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010794417
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt045825
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt045825
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01161549
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0500500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0500500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt030582
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1254863
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt222454
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3521
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4441
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3ACCOUNTS RECEIVABLE - HUD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4ACCURED RECEIVABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030582
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0914683
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 MARCH 31, 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04967232
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0308861
IRS990ScheduleD/TotalExpensesPerForm990Amt01161549
IRS990ScheduleD/TotalLiabilityAmt030582
IRS990ScheduleD/TotalRevenuePerForm990Amt0914683
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0914683
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01161549
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JANE CASEY AND BRIAN CASEY HAVE A FAMILY RELATIONSHIP. NEITHER RECEIVES ANY COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RETAINED 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/ExplanationTxt2THE 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/ExplanationTxt3IN ADDITION TO THE FORM 990 BEING AVAILABLE UPON REQUEST, IT IS AVAILABLE THROUGH GUIDESTAR.ORG.

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,330,723
Liabilities
$90,233
Net assets
$5,240,490
Revenue
$914,683
Expenses
$1,161,549
Net income
-$246,866
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.35$0.09$6.26$2.68$1.33$1.36
2023Summary only. Only limited summary data is available for this year.$5.17$0.09$5.08$1.45$1.20$0.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.93$0.10$4.83$0.99$1.23$0.24
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.15$0.09$5.07$0.99$1.16$0.17
2020Detailed filing. Detailed filing data is available for this year.$5.33$0.09$5.24$0.91$1.16$0.25
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.57$0.08$5.49$0.89$1.21$0.31
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.90$0.09$5.80$0.86$1.16$0.29
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.15$0.05$6.10$0.84$1.30$0.46
2016Detailed filing. Detailed filing data is available for this year.$6.62$0.06$6.56$0.84$1.03$0.19
2015Summary only. Only limited summary data is available for this year.$6.84$0.09$6.75$0.84$1.02$0.18
2014Detailed filing. Detailed filing data is available for this year.$7.05$0.12$6.94$0.83$0.98$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.14$0.06$7.08$0.95
2012Summary only. Only limited summary data is available for this year.$7.29$0.04$7.25$0.75$1.04$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.59$0.06$7.54$0.95