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Nonprofiteer
← 15TH AVENUE HOUSING CORPORATION

Form 990 for tax year 2023

Filed by 15TH AVENUE HOUSING CORPORATION.

Totals

Total revenue
$237,803
Total expenses
$231,276
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$237,736
Investment income
$67
Other revenue
$0
Total assets, end of year
$801,472
Total liabilities, end of year
$1,258,981
Net assets or fund balances, end of year
-$457,509
Program services expenses (Part IX)
$190,394
Management and general expenses
$40,882
Fundraising expenses
$0
Program service expenses (Part III)
$190,394

Program services were 82.3% 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: CARRYING CHARGES

    total $234,792 · related or exempt $234,792

  • 2b · Program service revenue: OTHER PROJECT INCOME

    total $2,944 · related or exempt $2,944

  • 3 · Investment income

    total $67 · excluded $67

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $45,297 · program services $36,945 · management and general $8,352

  • 9 · Other employee benefits

    total $7,796 · program services $6,359 · management and general $1,437

  • 10 · Payroll taxes

    total $3,265 · program services $2,663 · management and general $602

  • 11c · Fees: accounting

    total $6,600 · management and general $6,600

  • 11g · Fees: other

    total $16,861 · management and general $16,861

  • 12 · Advertising and promotion

    total $232 · program services $232

  • 13 · Office expenses

    total $4,117 · management and general $4,117

  • 20 · Interest

    total $24,891 · program services $24,891

  • 22 · Depreciation, depletion and amortization

    total $28,587 · program services $28,587

  • 23 · Insurance

    total $11,682 · program services $11,682

  • 24a · Other expenses: OPERATING AND MAINTENAN

    total $42,991 · program services $42,991

  • 24b · Other expenses: UTILITIES

    total $25,378 · program services $25,378

  • 24c · Other expenses: REAL ESTATE TAXES

    total $8,455 · program services $8,455

  • 24d · Other expenses: MEMBER EXPENSES

    total $2,211 · program services $2,211

  • 24e · All other expenses

    total $2,913 · management and general $2,913

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $70,606 · end of year $93,561

  • 2 · Savings and temporary cash investments

    beginning of year $183,817 · end of year $128,092

  • 4 · Accounts receivable

    beginning of year $240 · end of year $2,262

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,642 · end of year $4,590

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

    $1,543,200

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

    $970,465

  • 10c · Land, buildings and equipment, net

    beginning of year $544,856 · end of year $572,735

  • 14 · Intangible assets

    beginning of year $365 · end of year $232

  • 15 · Other assets

    beginning of year $2,125 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,898 · end of year $22,679

  • 19 · Deferred revenue

    beginning of year $93 · end of year $102

  • 23 · Secured mortgages and notes payable

    beginning of year $812,038 · end of year $786,838

  • 25 · Other liabilities

    beginning of year $427,658 · end of year $449,362

  • 27 · Net assets without donor restrictions

    beginning of year -$464,036 · end of year -$457,509

Mission and programs · 2023

Mission

THE COOPERATIVE'S PURPOSE IS TO OWN AND PROVIDE ITS MEMBERS WITH LIMITED EQUITY COOPERATIVE HOUSING AND COMMUNITY FACILITIES ON A NONPROFIT BASIS IN ORDER TO MAINTAIN THE AFFORDABILITY. THE COOPERATIVE OWNS AND OPERATES A 16 UNIT APARTMENT COMPLEX LOCATED IN ESCONDIDO, CALIFORNIA, PURSUANT IN PART, TO A REGULATORY AGREEMENT WITH THE CITY OF ESCONDIDO.

Activities or mission (Part I)

THE COOPERATIVE PROVIDES ITS MEMBERS WITH LIMITED EQUITY COOPERATIVE HOUSING AND COMMUNITY FACILITIES ON A NONPROFIT BASIS TO MAINTAIN AFFORDABILITY. THE 16 UNIT COMPLEX IS OPERATED IN ESCONDIDO, CA, PURSUANT IN PART, TO A REGULATORY AGREEMENT WITH THE CITY OF ESCONDIDO.

  • TO RAISE THE ECONOMIC, EDUCATIONAL, AND SOCIAL LEVEL OF THE RESIDENTS OF SAN DIEGO COUNTY BY CONSTRUCTING, REHABILITATING, AND PROVIDING AFFORDABLE HOUSING FOR LOW INCOME RESIDENTS.

    Expenses $190,394 · Revenue $237,736

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

Listed in Part VII

  • Alma Cruz

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Nazario Garcia Reyes

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ruben Garcia

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lazaro Cruz

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349305170

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