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Nonprofiteer
← BURBANK HOUSING S R CORPORATION

Form 990 for tax year 2024

Filed by BURBANK HOUSING S R CORPORATION.

Totals

Total revenue
$582,379
Total expenses
$816,995
Contributions and grants received
$178,599
Grants paid
$0
Program service revenue
$476,849
Investment income
-$73,069
Other revenue
$0
Total assets, end of year
$2,827,675
Total liabilities, end of year
$6,349,893
Net assets or fund balances, end of year
-$3,522,218
Program services expenses (Part IX)
$772,646
Management and general expenses
$44,349
Fundraising expenses
$0
Program service expenses (Part III)
$772,646

Program services were 94.6% 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)

    $178,599

  • 2a · Program service revenue: RENTAL INCOME

    total $475,504 · related or exempt $475,504

  • 2b · Program service revenue: OTHER REVENUE

    total $1,345 · related or exempt $1,345

  • 3 · Investment income

    total $204 · excluded $204

  • 7b · Less cost or other basis and sales expenses

    other assets $73,273

  • 7c · Gain or loss

    other assets -$73,273

  • 7d · Net gain or loss

    total -$73,273 · excluded -$73,273

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $141,079 · program services $141,079

  • 9 · Other employee benefits

    total $53,613 · program services $53,613

  • 10 · Payroll taxes

    total $9,030 · program services $9,030

  • 11a · Fees: management

    total $43,820 · management and general $43,820

  • 11b · Fees: legal

    total $529 · management and general $529

  • 11c · Fees: accounting

    total $19,263 · program services $19,263

  • 13 · Office expenses

    total $3,989 · program services $3,989

  • 19 · Conferences, conventions and meetings

    total $256 · program services $256

  • 20 · Interest

    total $173,398 · program services $173,398

  • 22 · Depreciation, depletion and amortization

    total $101,391 · program services $101,391

  • 23 · Insurance

    total $23,406 · program services $23,406

  • 24a · Other expenses: UTILITIES

    total $89,092 · program services $89,092

  • 24b · Other expenses: MISCELLANEOUS

    total $36,634 · program services $36,634

  • 24c · Other expenses: CONTRACTS

    total $35,671 · program services $35,671

  • 24d · Other expenses: GARBAGE & TRASH REMOVAL

    total $28,168 · program services $28,168

  • 24e · All other expenses

    total $57,656 · program services $57,656

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $371,745 · end of year $318,762

  • 4 · Accounts receivable

    beginning of year $3,121 · end of year $4,991

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,810 · end of year $17,075

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

    $2,762,588

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

    $540,376

  • 10c · Land, buildings and equipment, net

    beginning of year $2,235,944 · end of year $2,222,212

  • 15 · Other assets

    beginning of year $301,210 · end of year $264,635

  • 17 · Accounts payable and accrued expenses

    beginning of year $53,123 · end of year $13,424

  • 19 · Deferred revenue

    beginning of year $28 · end of year $38

  • 23 · Secured mortgages and notes payable

    beginning of year $1,809,218 · end of year $1,809,218

  • 25 · Other liabilities

    beginning of year $4,355,063 · end of year $4,527,213

  • 27 · Net assets without donor restrictions

    beginning of year -$3,287,602 · end of year -$3,522,218

Mission and programs · 2024

Mission

TO OWN AND OPERATE AFFORDABLE RENTAL HOUSING.

Activities or mission (Part I)

THE CORPORATION OWNS, OPERATES, AND MANAGES AFFORDABLE RENTAL HOUSING.

  • THE CORPORATION OWNS AND OPERATES 45 UNITS OF LOW INCOME HOUSING IN SEA RANCH, CALIFORNIA.

    Expenses $772,646 · Revenue $476,849

As filed on the 2024 return.

Listed in Part VII

  • SHARON WRIGHT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • DAVID GOUIN

    CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • PAUL DONALDSON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • DOROTHY BEATTIE

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • KOMRON SHAHHOSSEINI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • NATE BELDEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • TOMAS PHILLIPS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • JEAN KAPOLCHOK

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • ANDREA LEARNED

    DIRECTOR - THRU 2/24

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • LESLIE CAMINO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • CHARLOTTE RADMILOVIC

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • BRENDAN KUNKLE

    DIRECTOR - START 11/24

    Total calculated
    $0
    Hours/week
    0.3 + 8.1 related

  • LAWRANCE FLORIN

    CEO

    Total calculated
    $557,353
    From this org
    $0
    From related orgs
    $528,143
    Other
    $29,210
    Hours/week
    0.3 + 42.1 related

    Schedule J breakdown matched by us

    Base
    $0 + $423,064 related
    Bonus
    $0 + $105,079 related
    Other
    $0
    Deferred
    $0 + $10,095 related
    Nontaxable benefits
    $0 + $19,115 related
    Filer's total
    $0 + $557,353 related

  • KIM AUGUST

    CFO

    Total calculated
    $219,392
    From this org
    $0
    From related orgs
    $194,379
    Other
    $25,013
    Hours/week
    0.3 + 42.1 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,379 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,819 related
    Nontaxable benefits
    $0 + $19,194 related
    Filer's total
    $0 + $219,392 related

  • BENJAMIN WICKHAM

    COO

    Total calculated
    $229,257
    From this org
    $0
    From related orgs
    $196,739
    Other
    $32,518
    Hours/week
    0.3 + 42.1 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,739 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,578 related
    Nontaxable benefits
    $0 + $26,940 related
    Filer's total
    $0 + $229,257 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

The filer's explanations (Part III)

PART I, LINE 3
INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, AND COMPENSATION SURVEY OR STUDY WERE USED TO ESTABLISH COMPENSATION OF RELATED ORGANIZATION'S EXECUTIVE DIRECTOR/CEO AND CFO. BOARD OR COMPENSATION COMMITTEE'S APPROVAL IS ALSO REQUIRED.

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.

  • SEA RANCH 14 LLC

    AFFORDABLE HOUSING OWNERSHIP · CA · income -$152,666 · assets $828,970

    Directly controlled by BURBANK HOUSINGSR CORPORATION

  • SEA RANCH 31 LLC

    AFFORDABLE HOUSING OWNERSHIP · CA · income -$502,987 · assets $1,983,818

    Directly controlled by BURBANK HOUSINGSR CORPORATION

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202513179349307986

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