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← LA GARDENS COMMUNITY ASSOCIATION

Form 990 for tax year 2022

Filed by LA GARDENS COMMUNITY ASSOCIATION.

Totals

Total revenue
$1,007,176
Total expenses
$1,204,734
Contributions and grants received
$606,923
Grants paid
$0
Program service revenue
$347,446
Investment income
$1,185
Other revenue
$51,622
Total assets, end of year
$4,577,170
Total liabilities, end of year
$6,639,244
Net assets or fund balances, end of year
-$2,062,074
Program services expenses (Part IX)
$983,120
Management and general expenses
$221,614
Fundraising expenses
$0
Program service expenses (Part III)
$983,120

Program services were 81.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $606,923

  • 2a · Program service revenue: TENANT RENT & CHARGES

    total $347,446 · related or exempt $347,446

  • 3 · Investment income

    total $1,185 · excluded $1,185

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $49,106 · excluded $49,106

  • 11b · Other revenue: LAUNDRY AND VENDING

    total $2,516 · excluded $2,516

  • 11e · Other revenue, total

    $51,622

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $112,738 · program services $33,396 · management and general $79,342

  • 9 · Other employee benefits

    total $3,240 · program services $3,240

  • 10 · Payroll taxes

    total $9,331 · program services $9,331

  • 11a · Fees: management

    total $98,492 · management and general $98,492

  • 11b · Fees: legal

    total $155 · management and general $155

  • 11c · Fees: accounting

    total $5,075 · management and general $5,075

  • 11g · Fees: other

    total $150 · management and general $150

  • 12 · Advertising and promotion

    total $135 · management and general $135

  • 13 · Office expenses

    total $25,234 · management and general $25,234

  • 16 · Occupancy

    total $549,978 · program services $546,978 · management and general $3,000

  • 22 · Depreciation, depletion and amortization

    total $239,874 · program services $239,874

  • 23 · Insurance

    total $114,055 · program services $114,055

  • 24a · Other expenses: REAL ESTATE TAXES

    total $36,214 · program services $36,214

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $8,036 · management and general $8,036

  • 24c · Other expenses: MISC ADMIN EXPENSE

    total $1,995 · management and general $1,995

  • 24d · Other expenses: MISC FINANCIAL EXPENSE

    total $32 · program services $32

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,295 · end of year $706

  • 4 · Accounts receivable

    beginning of year $16,446 · end of year $61,888

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,079 · end of year $40,368

  • 10a · Land, buildings and equipment: cost or other basis

    $8,669,538

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,692,199

  • 10c · Land, buildings and equipment, net

    beginning of year $3,185,513 · end of year $2,977,339

  • 15 · Other assets

    beginning of year $1,451,225 · end of year $1,496,869

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,070 · end of year $35,299

  • 19 · Deferred revenue

    beginning of year $1,489 · end of year $3,141

  • 23 · Secured mortgages and notes payable

    beginning of year $6,574,432 · end of year $6,574,432

  • 25 · Other liabilities

    beginning of year $26,083 · end of year $26,372

  • 27 · Net assets without donor restrictions

    beginning of year -$1,864,516 · end of year -$2,062,074

Mission and programs · 2022

Mission

PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES.

  • THE ORGANIZATION PROVIDES AFFORDABLE HOUSING TO LOW INCOME FAMILIES. THE ORGANIZATION'S OPERATIONS ARE REGULATED BY HUD AND SUBJECT TO HUD'S OVERSIGHT.

    Expenses $983,120 · Revenue $347,446

As filed on the 2022 return.

Listed in Part VII

  • Tom Lungin

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Stephen Watson

    VP,TREASURER, SECRETARY

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • REAC READY MAINTENANCE

    MAINTENANCE · CA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CALIFORNIA COMMERCIAL INVESTMENT

    C · PROVIDES MANAGEMENT SERVICES THAT ARE APPROVED BY HUD · CA

Provenance

Return type
form_990
Tax year
2022
Filed
20 September 2023
IRS schema version
2022v5.0
Source object
202312639349300446

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