Skip to content
Nonprofiteer
← LANCER EDUCATIONAL HOUSINGCORPORATION

Form 990 for tax year 2022

Filed by LANCER EDUCATIONAL HOUSINGCORPORATION.

Totals

Total revenue
$27,331,541
Total expenses
$23,379,546
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$26,529,356
Investment income
$802,185
Other revenue
$0
Total assets, end of year
$203,973,879
Total liabilities, end of year
$184,078,620
Net assets or fund balances, end of year
$19,895,259
Program services expenses (Part IX)
$22,919,279
Management and general expenses
$460,267
Fundraising expenses
$0
Program service expenses (Part III)
$22,919,279

Program services were 98.0% 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.

  • 2a · Program service revenue: STUDENT HOUSING FEES

    total $22,060,234 · related or exempt $22,060,234

  • 2b · Program service revenue: LEASE INCOME

    total $4,469,122 · related or exempt $4,469,122

  • 3 · Investment income

    total $802,185 · excluded $802,185

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $1,086,124 · program services $1,058,039 · management and general $28,085

  • 11g · Fees: other

    total $2,723,488 · program services $2,723,488

  • 20 · Interest

    total $8,812,702 · program services $8,812,702

  • 22 · Depreciation, depletion and amortization

    total $6,408,038 · program services $6,408,038

  • 23 · Insurance

    total $368,815 · management and general $368,815

  • 24a · Other expenses: UTILTIES

    total $2,175,316 · program services $2,175,316

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $1,741,696 · program services $1,741,696

  • 24c · Other expenses: OTHER OPERATING EXPENSE

    total $63,367 · management and general $63,367

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,012,347 · end of year $25,397,964

  • 2 · Savings and temporary cash investments

    beginning of year $12,724,153 · end of year $12,724,153

  • 4 · Accounts receivable

    beginning of year $48,841 · end of year $1,272,455

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

    $208,229,214

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

    $43,899,907

  • 10c · Land, buildings and equipment, net

    beginning of year $167,481,496 · end of year $164,329,307

  • 15 · Other assets

    beginning of year $250,000 · end of year $250,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,761,334 · end of year $8,793,008

  • 19 · Deferred revenue

    beginning of year $413,731 · end of year $396,533

  • 20 · Tax-exempt bond liabilities

    beginning of year $178,388,980 · end of year $174,879,551

  • 25 · Other liabilities

    beginning of year $9,528 · end of year $9,528

  • 27 · Net assets without donor restrictions

    beginning of year $15,943,264 · end of year $19,895,259

Mission and programs · 2022

Mission

THE CORPORATION FACILITATES THE EDUCATION AND SUPPORT OF STUDENTS, FACULTY, AND STAFF OF CALIFORNIA BAPTIST UNIVERSITY (CBU) BY PURCHASING AND CONSTRUCTING HOUSING STOCK AND LEASING IT TO STUDENTS AND TO CBU.

Activities or mission (Part I)

THE CORPORATION FACILITATES THE EDUCATION AND SUPPORT OF STUDENTS, FACULTY, AND STAFF OF CALIFORNIA BAPTIST UNIVERSITY (CBU) BY PURCHASING HOUSING STOCK AND LEASING IT TO STUDENTS AND TO CBU.

  • LANCER EDUCATIONAL HOUSING CORPORATION MAXIMIZES THE EFFICIENT USE OF HOUSING RESOURCES BY LEASING PROPERTY TO CALIFORNIA BAPTIST UNIVERSITY AND FURTHER ACQUIRING, CONSTRUCTING AND OWNING RESIDENTIAL FACILITIES FOR STUDENTS, FACULTY, AND STAFF.

    Expenses $22,919,279 · Revenue $26,529,356

As filed on the 2022 return.

Listed in Part VII

  • RONALD L ELLIS

    PRESIDENT

    Total calculated
    $1,782,919
    From this org
    $0
    From related orgs
    $1,711,545
    Other
    $71,374
    Hours/week
    0.25 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,231,545 related
    Bonus
    $0 + $480,000 related
    Other
    $0
    Deferred
    $0 + $44,900 related
    Nontaxable benefits
    $0 + $26,474 related
    Filer's total
    $0 + $1,782,919 related

  • MARK HOWE

    SECRETARY/TREASURER

    Total calculated
    $522,286
    From this org
    $0
    From related orgs
    $449,764
    Other
    $72,522
    Hours/week
    0.25 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $449,764 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $36,340 related
    Nontaxable benefits
    $0 + $36,182 related
    Filer's total
    $0 + $522,286 related

  • DR RICK MILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • MATTHEW ALBEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • DAVID PEERY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LANCER EDUCATIONAL HOUSING LLC

    HOLDING COMPANY · CA · income $24,800,818 · assets $176,812,181

    Directly controlled by LANCER EDUCATIONAL HOUSING CORPORATION

  • LANCER PLAZA LLC

    HOLDING COMPANY · CA · income $2,530,723 · assets $27,161,698

    Directly controlled by LANCER EDUCATIONAL HOUSING CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202441319349302979

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.