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Nonprofiteer
← PEP HOUSING

Form 990 for tax year 2023

Filed by PEP HOUSING.

Totals

Total revenue
$6,565,425
Total expenses
$6,461,775
Contributions and grants received
$3,530,253
Grants paid
$185,204
Program service revenue
$2,662,548
Investment income
$390,132
Other revenue
-$17,508
Total assets, end of year
$23,359,623
Total liabilities, end of year
$11,331,578
Net assets or fund balances, end of year
$12,028,045
Program services expenses (Part IX)
$6,018,794
Management and general expenses
$373,366
Fundraising expenses
$69,615
Program service expenses (Part III)
$6,018,794

Program services were 93.1% 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.

  • 1c · Fundraising events

    $73,667

  • 1d · Related organizations

    $83,378

  • 1e · Government grants (contributions)

    $2,549,313

  • 1f · All other contributions, gifts and grants

    $823,895

  • 2a · Program service revenue: ALLOCABLE SHARE PS RENTS

    total $511,251 · related or exempt $511,251

  • 2b · Program service revenue: DEVELOPER FEES

    total $649,898 · related or exempt $649,898

  • 2c · Program service revenue: OTHER INCOME

    total $20,212 · related or exempt $20,212

  • 2d · Program service revenue: PROPERTY MANAGEMENT FEE

    total $733,056 · related or exempt $733,056

  • 2e · Program service revenue: TENANT RENTS

    total $726,207 · related or exempt $726,207

  • 2f · All other program service revenue

    total $21,924 · related or exempt $21,924

  • 3 · Investment income

    total $390,132 · excluded $390,132

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $25,706

  • 8a · Fundraising events: contributions included on line 1c

    $73,667

  • 8b · Fundraising events: direct expenses

    $43,214

  • 8c · Net income from fundraising events

    total -$17,508 · excluded -$17,508

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $185,204 · program services $185,204

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $357,284 · program services $292,499 · management and general $32,032 · fundraising $32,753

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,475,076 · program services $1,239,001 · management and general $213,502 · fundraising $22,573

  • 8 · Pension plan contributions

    total $19,418 · program services $17,419 · management and general $1,631 · fundraising $368

  • 9 · Other employee benefits

    total $158,410 · program services $145,337 · management and general $10,670 · fundraising $2,403

  • 10 · Payroll taxes

    total $145,742 · program services $130,980 · management and general $12,047 · fundraising $2,715

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $23,645 · program services $21,280 · management and general $2,365

  • 11c · Fees: accounting

    total $43,250 · management and general $43,250

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $48,186 · program services $43,656 · management and general $4,530

  • 12 · Advertising and promotion

    total $98,655 · program services $88,926 · management and general $9,729

  • 13 · Office expenses

    total $93,613 · program services $87,060 · management and general $6,328 · fundraising $225

  • 14 · Information technology

    total $109,207 · program services $99,717 · management and general $9,490

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,122,577 · program services $1,112,721 · management and general $9,856

  • 17 · Travel

    total $7,771 · program services $6,970 · management and general $801

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $60,697 · program services $55,104 · management and general $5,593

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $331,750 · program services $324,192 · management and general $7,558

  • 23 · Insurance

    total $0

  • 24a · Other expenses: ALLOCABLE SHARE PS EXPENSES

    total $1,977,622 · program services $1,977,622

  • 24b · Other expenses: RESIDENT ASSISTANCE

    total $124,583 · program services $124,583

  • 24c · Other expenses: WORKERS COMPENSATION

    total $55,965 · program services $51,863 · management and general $3,348 · fundraising $754

  • 24d · Other expenses: MISCELLANEOUS

    total $8,574 · program services $7,938 · management and general $636

  • 24e · All other expenses

    total $14,546 · program services $6,722 · fundraising $7,824

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,320,272 · end of year $695,197

  • 2 · Savings and temporary cash investments

    beginning of year $2,287,601 · end of year $4,476,319

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $115,533 · end of year $188,746

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $3,391,075 · end of year $3,615,206

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $87,808 · end of year $71,247

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

    $14,616,369

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

    $4,786,130

  • 10c · Land, buildings and equipment, net

    beginning of year $10,104,167 · end of year $9,830,239

  • 11 · Investments: publicly traded securities

    beginning of year $695,210 · end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year -$176,235 · end of year -$629,293

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $5,695,854 · end of year $5,111,962

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,387,146 · end of year $2,071,028

  • 23 · Secured mortgages and notes payable

    beginning of year $9,167,813 · end of year $9,198,461

  • 25 · Other liabilities

    beginning of year $63,083 · end of year $62,089

  • 27 · Net assets without donor restrictions

    beginning of year $11,823,434 · end of year $11,467,068

  • 28 · Net assets with donor restrictions

    beginning of year $79,809 · end of year $560,977

Mission and programs · 2023

Mission

PEP HOUSING, A NONPROFIT ORGANIZATION, DEVELOPS AND MANAGES QUALITY AFFORDABLE HOUSING AND PROVIDES SUPPORTIVE SERVICES FOR OLDER ADULTS WITH LIMITED INCOMES.

  • THE CORPORATION SERVES AS A GENERAL PARTNER OR LIMITED PARTNER IN FOUR LIMITED PARTNERSHIPS WHICH PROVIDE A TOTAL OF 156 TOTAL UNITS OF LOW-INCOME HOUSING LOCATED IN PETALUMA AND KENTFIELD, CALIFORNIA. THE CORPORATION ALSO SERVES AS THE SOLE OWNER OF ONE LIMITED LIABILITY COMPANY WHICH PROVIDES 49 UNITS OF LOW-INCOME HOUSING LOCATED IN SANTA ROSA, CA AND THE SOLE OWNER OF TWO OTHER LIMITED LIABILITY COMPANIES WHICH WILL SERVE AS A GENERAL PARTNER OF LIMITED PARTNERSHIPS THAT WILL PROVIDE LOW-INCOME HOUSING.

    Expenses $1,977,622 · Revenue $511,251

  • DIRECTLY OWNS AND OPERATES 7 BUILDINGS, COMPRISING OF 85 UNITS OF LOW-INCOME HOUSING FOR SENIOR CITIZENS AND PERSONS WITH DISABILITIES IN PETALUMA, CALIFORNIA.

    Expenses $1,973,083 · Grants $130,253 · Revenue $733,937

  • PROPERTY MANAGEMENT OF ASSISTED HOUSING FOR LOW-INCOME SENIOR CITIZENS AND PERSONS WITH DISABILITIES.

    Expenses $1,117,087 · Revenue $753,268

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mary Stompe

    FORMER EXEC DIR

    Total calculated
    $167,046
    From this org
    $151,176
    From related orgs
    $0
    Other
    $15,870
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $151,176
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,500
    Nontaxable benefits
    $370
    Filer's total
    $167,046

  • Jim Wallen

    DIR. OF HSG DEV

    Total calculated
    $153,511
    From this org
    $134,981
    From related orgs
    $0
    Other
    $18,530
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $127,825
    Bonus
    $7,156
    Other
    not reported
    Deferred
    $3,889
    Nontaxable benefits
    $14,641
    Filer's total
    $153,511

  • Dominic Roybal

    DIR OF PROP MGMT

    Total calculated
    $153,327
    From this org
    $132,760
    From related orgs
    $0
    Other
    $20,567
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $121,071
    Bonus
    $11,689
    Other
    not reported
    Deferred
    $11,782
    Nontaxable benefits
    $8,785
    Filer's total
    $153,327

  • Kerrily Beaton

    DIR OF COMPLIANCE

    Total calculated
    $125,051
    From this org
    $113,456
    From related orgs
    $0
    Other
    $11,595
    Hours/week
    40 + 1 related

  • Sharon Patchin-Redman

    DIR OF HUMN RSC

    Total calculated
    $122,986
    From this org
    $114,597
    From related orgs
    $0
    Other
    $8,389
    Hours/week
    40 + 1 related

  • Pamela Lemos

    DIR OF MAINTENANCE

    Total calculated
    $120,555
    From this org
    $100,157
    From related orgs
    $0
    Other
    $20,398
    Hours/week
    40 + 1 related

  • Jennifer Litwak

    CEO/PRESIDENT

    Total calculated
    $108,256
    From this org
    $105,373
    From related orgs
    $0
    Other
    $2,883
    Hours/week
    40 + 1 related

  • Karin Anderson

    SR DIR-FINANCE

    Total calculated
    $81,982
    From this org
    $71,157
    From related orgs
    $0
    Other
    $10,825
    Hours/week
    40 + 1 related

  • Sean Pryden

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Harry Coffey

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Don Ross

    Treasurer

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Ben Pryden

    Secretary

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • George F Spragens

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Anna Rose

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Joseph Tinney

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Roy Martinez

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Jeffrey Mayne

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Jim Ryan

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Matthew Haas

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 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

  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7: Non-Fixed payments not listed above
THE ANNUAL BONUS OF THE CHIEF EXECUTIVE OFFICER IS DETERMINED BY THE BOARD OF DIRECTORS AND IS BASED UPON TOTAL COMPENSATION FOR SIMILAR ROLES IN SIMILAR ORGANIZATIONS. DISCRETIONARY ANNUAL EMPLOYEE BONUSES MAY BE PAID, AS DETERMINED BY THE CHIEF EXECUTIVE OFFICER.

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.

  • VIGIL LIGHT SENIOR APARTMENTS LLC

    LOW-INCOME HOUSING · CA · income $924,846 · assets $8,010,275

    Directly controlled by PEP HOUSING

  • 1317 SOUTH GRAND MGP LLC

    LOW-INCOME HOUSING · CA

    Directly controlled by PEP HOUSING

  • 1411 FLOWER STREET MGP LLC

    LOW-INCOME HOUSING · CA

    Directly controlled by PEP HOUSING

Related partnerships

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

  • CASA GRANDE SENIOR APARTMENTS LP

    RELATED · LOW-INC HSG · CA · 30% owned · share of income -$128,301 · share of assets $3,336,658 · general or managing partner

    Directly controlled by PEP HOUSING

  • 575 VALLEJO STREET ASSOCIATES

    RELATED · LOW-INC HSG · CA · 99% owned · share of income -$13,122 · share of assets $2,356,552

    Directly controlled by PEP HOUSING

  • 579 VALLEJO STREET ASSOCIATES

    RELATED · LOW-INC HSG · CA · 100% owned · share of income $260,061 · share of assets $2,468,087

    Directly controlled by PEP HOUSING

  • TOUSSIN SENIOR APARTMENTS LP

    RELATED · LOW-INC HSG · CA · 14.035% owned · share of income $3 · share of assets $322,324 · general or managing partner

    Directly controlled by PEP HOUSING

  • ACACIA LANE SENIOR APARTMENTS LP

    LOW-INC HSG · CA · general or managing partner

    Directly controlled by CAULFIELD LANE

  • KELLGREN SENIOR APARTMENTS LP

    LOW-INC HSG · CA · general or managing partner

    Directly controlled by CAULFIELD LANE

  • ORANGE TREE SENIOR APARTMENTS LP

    LOW-INC HSG · CA · general or managing partner

    Directly controlled by CAULFIELD LANE

  • SUN HOUSE SENIOR APARTMENTS LP

    LOW-INC HSG · CA · general or managing partner

    Directly controlled by CAULFIELD LANE

  • RIVER CITY SENIOR APARTMENTS LP

    LOW-INC HSG · CA

    Directly controlled by CAULFIELD LANE

  • PONY EXPRESS SENIOR APARTMENTS LP

    LOW-INC HSG · CA

    Directly controlled by CAULFIELD LANE

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202443139349302674

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