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Nonprofiteer
← PAHC PROPERTIES CORPORATION

Form 990 for tax year 2023

Filed by PAHC PROPERTIES CORPORATION.

Totals

Total revenue
$2,614,183
Total expenses
$2,516,747
Contributions and grants received
$0
Grants paid
$20,806
Program service revenue
$2,528,590
Investment income
$85,593
Other revenue
$0
Total assets, end of year
$28,004,509
Total liabilities, end of year
$22,536,864
Net assets or fund balances, end of year
$5,467,645
Program services expenses (Part IX)
$2,439,196
Management and general expenses
$77,551
Fundraising expenses
$0
Program service expenses (Part III)
$2,439,196

Program services were 96.9% 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: RENTAL INCOME

    total $2,135,900 · related or exempt $2,135,900

  • 2b · Program service revenue: GROUND LEASE

    total $503,665 · related or exempt $503,665

  • 2c · Program service revenue: OTHER INCOME

    total $31,917 · related or exempt $31,917

  • 2d · Program service revenue: INCOME FROM PTRSHIP.

    total -$142,892 · related or exempt -$142,892

  • 3 · Investment income

    total $85,593 · excluded $85,593

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,806 · program services $20,806

  • 7 · Other salaries and wages

    total $132,465 · program services $132,465

  • 9 · Other employee benefits

    total $48,376 · program services $48,376

  • 10 · Payroll taxes

    total $9,376 · program services $9,376

  • 11a · Fees: management

    total $254,287 · program services $254,287

  • 11b · Fees: legal

    total $2,513 · program services $2,513

  • 11c · Fees: accounting

    total $77,551 · management and general $77,551

  • 11g · Fees: other

    total $142,699 · program services $142,699

  • 20 · Interest

    total $895,535 · program services $895,535

  • 22 · Depreciation, depletion and amortization

    total $244,970 · program services $244,970

  • 23 · Insurance

    total $60,431 · program services $60,431

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $297,151 · program services $297,151

  • 24b · Other expenses: UTILITIES

    total $133,750 · program services $133,750

  • 24c · Other expenses: OTHER PROGRAM EXPENSES

    total $130,738 · program services $130,738

  • 24d · Other expenses: OTHER TAXES & FEES

    total $40,750 · program services $40,750

  • 24e · All other expenses

    total $25,349 · program services $25,349

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,958,240 · end of year $3,632,414

  • 2 · Savings and temporary cash investments

    beginning of year $789,609 · end of year $650,292

  • 4 · Accounts receivable

    beginning of year $71,574 · end of year $89,641

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,190 · end of year $7,307

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

    $18,186,350

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

    $6,516,341

  • 10c · Land, buildings and equipment, net

    beginning of year $11,821,037 · end of year $11,670,009

  • 13 · Investments: program-related

    beginning of year $5,537,618 · end of year $5,373,920

  • 15 · Other assets

    beginning of year $5,372,623 · end of year $6,580,926

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,688 · end of year $37,855

  • 19 · Deferred revenue

    beginning of year $36,864 · end of year $208,561

  • 23 · Secured mortgages and notes payable

    beginning of year $20,905,698 · end of year $22,024,865

  • 25 · Other liabilities

    beginning of year $214,432 · end of year $265,583

  • 27 · Net assets without donor restrictions

    beginning of year $5,370,209 · end of year $5,467,645

Mission and programs · 2023

Mission

TO FOSTER, DEVELOP, ACQUIRE, REHABILITATE, MANAGE AND OPERATE LOW AND MODERATE-INCOME HOUSING IN PALO ALTO, CA.

Activities or mission (Part I)

TO PROVIDE AND MAINTAIN LOW AND MODERATE INCOME HOUSING.

  • PROVIDING DECENT AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS.

    Expenses $2,439,196 · Grants $20,806 · Revenue $2,528,590

As filed on the 2023 return.

Listed in Part VII

  • Jean McCown

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jack Thompson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Packer

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Menka Sethi

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Joseph Martignetti Jr

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Margaret Sloan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen Routt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ronald Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lori Saito

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Ratner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Juan Mendez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Myers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rachel Horst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anna Botelho

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Olya Krasnykh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Schild

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Randal Tsuda

    PRESIDENT & CEO

    Total calculated
    $354,026
    From this org
    $0
    From related orgs
    $288,288
    Other
    $65,738
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,288 related
    Bonus
    $0 + $26,000 related
    Other
    $0
    Deferred
    $0 + $17,297 related
    Nontaxable benefits
    $0 + $48,441 related
    Filer's total
    $0 + $354,026 related

  • Marc Garcia

    CFO

    Total calculated
    $251,277
    From this org
    $0
    From related orgs
    $204,463
    Other
    $46,814
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,018 related
    Bonus
    $0 + $6,445 related
    Other
    $0
    Deferred
    $0 + $12,268 related
    Nontaxable benefits
    $0 + $34,546 related
    Filer's total
    $0 + $251,277 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
RELATED ORGANIZATION'S OFFICERS COMPENSATION IS DETERMINED BY THE BOARD. BOARD OR COMPENSATION COMMITTEE'S APPROVAL IS 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

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.

  • CURTNER APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $268,391 · assets $859,692

    Directly controlled by PAHC PROPERTIES CORPORATION

  • EL DORADO PLACE LLC

    LOW INCOME HOUSING · CA · income $225,179 · assets $3,143,911

    Directly controlled by PAHC PROPERTIES CORPORATION

  • ELM APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $266,412 · assets $1,056,492

    Directly controlled by PAHC PROPERTIES CORPORATION

  • EMERSON HOUSE LLC

    LOW INCOME HOUSING · CA · income $86,806 · assets $332,972

    Directly controlled by PAHC PROPERTIES CORPORATION

  • EMERSON NORTH LLC

    LOW INCOME HOUSING · CA · income $118,758 · assets $439,865

    Directly controlled by PAHC PROPERTIES CORPORATION

  • EMERSON SOUTH LLC

    LOW INCOME HOUSING · CA · income $122,567 · assets $409,612

    Directly controlled by PAHC PROPERTIES CORPORATION

  • FERNE APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $449,018 · assets $1,486,930

    Directly controlled by PAHC PROPERTIES CORPORATION

  • PLUM TREE APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $233,927 · assets $1,328,772

    Directly controlled by PAHC PROPERTIES CORPORATION

  • VENTURA APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $275,248 · assets $1,096,814

    Directly controlled by PAHC PROPERTIES CORPORATION

  • WALDO APARTMENTS LLC

    LOW INCOME HOUSING · CA · income $157,783 · assets $634,027

    Directly controlled by PAHC PROPERTIES CORPORATION

  • WILTON COURT LLC

    LOW INCOME HOUSING · CA · income -$126,200 · assets $6,265,253

    Directly controlled by PAHC PROPERTIES CORPORATION

  • WILTON COURT II LLC

    LOW INCOME HOUSING · CA · income $145 · assets $1,863,086

    Directly controlled by PAHC PROPERTIES CORPORATION

Related partnerships

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

  • 1701 ECR LP

    AFFORDABLE RENTAL HOUSING · CA

  • 2821 EL CAMINO REAL LP

    AFFORDABLE RENTAL HOUSING · CA

  • 950 EL CAMINO REAL LP

    AFFORDABLE RENTAL HOUSING · CA

  • AH 2801 ECR LP

    AFFORDABLE RENTAL HOUSING · CA

  • AH BESPOKE LP

    AFFORDABLE RENTAL HOUSING · CA

  • ALMA PLACE ASSOCIATES

    AFFORDABLE RENTAL HOUSING · CA

  • ARASTRADERO PARK LP

    AFFORDABLE RENTAL HOUSING · CA

  • COLORADO PARK LP

    AFFORDABLE RENTAL HOUSING · CA

  • OAK COURT APARTMENTS LP

    AFFORDABLE RENTAL HOUSING · CA

  • SHERIDAN APTS AFFORDABLE HOUSING LP

    AFFORDABLE RENTAL HOUSING · CA

  • TERRA BELLA I LP

    AFFORDABLE RENTAL HOUSING · CA

  • TERRA BELLA II LP

    AFFORDABLE RENTAL HOUSING · CA

  • TREE HOUSE APARTMENTS LP

    AFFORDABLE RENTAL HOUSING · CA

  • WEBSTER WOOD APARTMENTS LLC

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 1.01% owned · share of income $21,771 · share of assets $38,039 · general or managing partner

    Directly controlled by PAHC PROPERTIES CORP & PAHC APARTMENTS INC

  • WILTON ECR LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 0.01% owned · share of income -$140,253 · share of assets $5,450,527 · general or managing partner

    Directly controlled by WILTON COURT LLC

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423209349300512

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