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Nonprofiteer
← COMMUNITY ECONOMICS INC

Form 990 for tax year 2023

Filed by COMMUNITY ECONOMICS INC.

Totals

Total revenue
$1,165,250
Total expenses
$1,612,856
Contributions and grants received
$0
Grants paid
$85,650
Program service revenue
$1,128,403
Investment income
$36,847
Other revenue
$0
Total assets, end of year
$2,041,866
Total liabilities, end of year
$1,008,403
Net assets or fund balances, end of year
$1,033,463
Program services expenses (Part IX)
$1,383,776
Management and general expenses
$229,080
Fundraising expenses
$0
Program service expenses (Part III)
$1,383,776

Program services were 85.8% 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: CONSULTING FEES

    total $1,128,403 · related or exempt $1,128,403

  • 3 · Investment income

    total $40,368 · excluded $40,368

  • 7a · Gross sales of assets other than inventory

    securities $426,064

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

    securities $429,585

  • 7c · Gain or loss

    securities -$3,521

  • 7d · Net gain or loss

    total -$3,521 · excluded -$3,521

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $85,650 · program services $85,650

  • 5 · Compensation of officers, directors and key employees

    total $557,561 · program services $473,927 · management and general $83,634

  • 7 · Other salaries and wages

    total $563,687 · program services $479,134 · management and general $84,553

  • 8 · Pension plan contributions

    total $83,758 · program services $71,194 · management and general $12,564

  • 9 · Other employee benefits

    total $47,405 · program services $40,294 · management and general $7,111

  • 10 · Payroll taxes

    total $68,438 · program services $58,172 · management and general $10,266

  • 11g · Fees: other

    total $34,809 · program services $29,589 · management and general $5,220

  • 16 · Occupancy

    total $101,214 · program services $86,032 · management and general $15,182

  • 17 · Travel

    total $8,348 · program services $7,096 · management and general $1,252

  • 19 · Conferences, conventions and meetings

    total $375 · program services $319 · management and general $56

  • 22 · Depreciation, depletion and amortization

    total $2,347 · program services $1,995 · management and general $352

  • 23 · Insurance

    total $11,888 · program services $10,105 · management and general $1,783

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $14,241 · program services $12,105 · management and general $2,136

  • 24b · Other expenses: TELEPHONE

    total $11,119 · program services $9,451 · management and general $1,668

  • 24c · Other expenses: UTILITIES

    total $10,825 · program services $9,201 · management and general $1,624

  • 24d · Other expenses: MISCELLANEOUS

    total $7,065 · program services $6,005 · management and general $1,060

  • 24e · All other expenses

    total $4,126 · program services $3,507 · management and general $619

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $194,108 · end of year $155,225

  • 2 · Savings and temporary cash investments

    beginning of year $714,398 · end of year $608,370

  • 4 · Accounts receivable

    beginning of year $160,528 · end of year $258,825

  • 7 · Other notes and loans receivable

    beginning of year $300,000 · end of year $250,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,022 · end of year $38,303

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

    $21,894

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

    $15,394

  • 10c · Land, buildings and equipment, net

    beginning of year $4,997 · end of year $6,500

  • 11 · Investments: publicly traded securities

    beginning of year $1,023,430 · end of year $724,643

  • 17 · Accounts payable and accrued expenses

    beginning of year $93,119 · end of year $94,820

  • 19 · Deferred revenue

    beginning of year $942,350 · end of year $913,583

  • 27 · Net assets without donor restrictions

    beginning of year $1,393,014 · end of year $1,033,463

Mission and programs · 2023

Mission

COMMUNITY ECONOMICS, INC.'S MISSION IS TO INCREASE THE SUPPLY OF PERMANENTLY AFFORDABLE HOUSING SERVING THE LOWEST INCOME HOUSEHOLDS. CEI WILL UNDERTAKE THIS MISSION THROUGH (1) THE PROVISION OF TECHNICAL ASSISTANCE IN THE DEVELOPMENT AND FINANCING OF PERMANENTLY AFFORDABLE HOUSING TO NONPROFIT DEVELOPERS, PUBLIC AGENCIES, AND TENANT ORGANIZATIONS; AND (2) EDUCATION, RESEARCH, AND POLICY DEVELOPMENT WITH HOUSING ADVOCATES, PUBLIC POLICY MAKERS, AND THE LENDING AND INVESTMENT COMMUNITY.

Activities or mission (Part I)

THE CORPORATION'S EXEMPT FUNCTION & PURPOSE IS TO PROVIDE TECHNICAL ASSISTANCE TO HOUSING RELATED NON-PROFIT ORGANIZATIONS IN DEVELOPING, MAINTAINING, AND MANAGING OF LOW-INCOME HOUSING.

  • TECHNICAL ASSISTANCE IS PROVIDED TO NON-PROFIT COMMUNITY-BASED ORGANIZATIONS AND PUBLIC AGENCIES IN THE AREAS OF: DEVELOPMENT, MAINTENANCE, AND MANAGEMENT OF LOW-INCOME HOUSING INCLUDING SUBSIDIZED HOUSING; COMMUNITY-BASED REAL ESTATE DEVELOPMENT; AND COMMUNITY-BASED ECONOMIC DEVELOPMENT. PUBLICATIONS SUCH AS FEASIBILITY STUDIES AND MANUAL ARE WRITTEN AND DISTRIBUTED AT COST.

    Expenses $1,383,776 · Grants $85,650 · Revenue $1,128,403

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

Listed in Part VII

  • MIKE RAWSON

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • LYNETTE LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DENA BELZER

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • ROY LINTON SCHWEYER

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • GISELA SALGADO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STEVEN SHUM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • IRMA POE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ELISSA DENNIS

    EXECUTIVE DIRECTOR

    Total calculated
    $309,639
    From this org
    $269,149
    From related orgs
    $0
    Other
    $40,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,149
    Bonus
    $0
    Other
    $0
    Deferred
    $40,372
    Nontaxable benefits
    $118
    Filer's total
    $309,639

  • DIANA DOWNTON

    SR AFFORDABLE HSG FINANCE CONSULTANT

    Total calculated
    $247,922
    From this org
    $215,584
    From related orgs
    $0
    Other
    $32,338
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,584
    Bonus
    $0
    Other
    $0
    Deferred
    $32,338
    Nontaxable benefits
    $0
    Filer's total
    $247,922

  • LISA MOTOYAMA

    SR AFFORDABLE HSG FINANCE CONSULTANT

    Total calculated
    $170,877
    From this org
    $144,576
    From related orgs
    $0
    Other
    $26,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,576
    Bonus
    $0
    Other
    $0
    Deferred
    $22,300
    Nontaxable benefits
    $4,001
    Filer's total
    $170,877

  • LINDA RIVERS

    OFFICE MANAGER

    Total calculated
    $193,304
    From this org
    $162,289
    From related orgs
    $0
    Other
    $31,015
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,289
    Bonus
    $0
    Other
    $0
    Deferred
    $24,343
    Nontaxable benefits
    $6,672
    Filer's total
    $193,304

  • MAGDA V LIRA

    AFFORDABLE HSG FINANCE CONSULTANT

    Total calculated
    $132,974
    From this org
    $113,296
    From related orgs
    $0
    Other
    $19,678
    Hours/week
    40

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

Provenance

Return type
form_990
Tax year
2023
Filed
16 September 2024
IRS schema version
2023v5.1
Source object
202402649349301800

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