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Nonprofiteer
← ARASTRADERO PARK APARTMENT CORPORATION

Form 990 for tax year 2023

Filed by ARASTRADERO PARK APARTMENT CORPORATION.

Totals

Total revenue
$1,510,942
Total expenses
$1,388,171
Contributions and grants received
$705,994
Grants paid
$0
Program service revenue
$797,996
Investment income
$6,952
Other revenue
$0
Total assets, end of year
$5,333,100
Total liabilities, end of year
$6,507,196
Net assets or fund balances, end of year
-$1,174,096
Program services expenses (Part IX)
$1,363,275
Management and general expenses
$24,896
Fundraising expenses
$0
Program service expenses (Part III)
$1,363,275

Program services were 98.2% 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)

    $705,994

  • 2a · Program service revenue: RENTAL INCOME

    total $788,754 · related or exempt $788,754

  • 2b · Program service revenue: OTHER

    total $9,242 · related or exempt $9,242

  • 3 · Investment income

    total $6,952 · excluded $6,952

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $161,323 · program services $161,323

  • 9 · Other employee benefits

    total $63,510 · program services $63,510

  • 10 · Payroll taxes

    total $12,163 · program services $12,163

  • 11a · Fees: management

    total $48,312 · program services $48,312

  • 11c · Fees: accounting

    total $24,896 · management and general $24,896

  • 13 · Office expenses

    total $16,462 · program services $16,462

  • 20 · Interest

    total $177,660 · program services $177,660

  • 22 · Depreciation, depletion and amortization

    total $227,227 · program services $227,227

  • 23 · Insurance

    total $40,553 · program services $40,553

  • 24a · Other expenses: OPERATING & MAINT.

    total $311,790 · program services $311,790

  • 24b · Other expenses: UTILITIES

    total $161,663 · program services $161,663

  • 24c · Other expenses: ADMINISTRATIVE

    total $123,073 · program services $123,073

  • 24d · Other expenses: REAL ESTATE TAXES

    total $9,442 · program services $9,442

  • 24e · All other expenses

    total $10,097 · program services $10,097

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $247,858 · end of year $309,880

  • 4 · Accounts receivable

    beginning of year $26,094 · end of year $17,538

  • 9 · Prepaid expenses and deferred charges

    beginning of year $33,229 · end of year $31,773

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

    $10,973,215

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

    $6,537,328

  • 10c · Land, buildings and equipment, net

    beginning of year $4,614,899 · end of year $4,435,887

  • 13 · Investments: program-related

    beginning of year $99 · end of year $99

  • 15 · Other assets

    beginning of year $503,732 · end of year $537,923

  • 17 · Accounts payable and accrued expenses

    beginning of year $56,403 · end of year $56,505

  • 19 · Deferred revenue

    beginning of year $12,366 · end of year $15,086

  • 23 · Secured mortgages and notes payable

    beginning of year $6,595,659 · end of year $6,377,129

  • 25 · Other liabilities

    beginning of year $58,350 · end of year $58,476

  • 27 · Net assets without donor restrictions

    beginning of year -$1,296,867 · end of year -$1,174,096

Mission and programs · 2023

Mission

ARASTRADERO PARK APARTMENTS WAS ORGANIZED TO ACQUIRE AN INTEREST IN REAL PROPERTY, AND TO OPERATE THEREON AN APARTMENT COMPLEX OF 66 UNITS UNDER SECTION 236 OF THE NATIONAL HOUSING ACT AND SECTION 8 OF THE UNITED STATES HOUSING ACT OF 1937.

  • THE ORGANIZATION OPERATES AN APARTMENT COMPLEX OF 66 UNITS UNDER SECTION 236 OF THE NATIONAL HOUSING ACT. THE APARTMENT UNITS ARE FOR LOW TO MODERATE INCOME INDIVIDUALS.

    Expenses $1,363,275 · Revenue $797,996

As filed on the 2023 return.

Listed in Part VII

  • BONNIE PACKER

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • ELIZABETH RATNER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • RACHEL HORST

    SECRETARY/ TREASURER

    Total calculated
    $0
    Hours/week
    2

  • KIMBERLY HURT

    TENANT REP

    Total calculated
    $0
    Hours/week
    2

  • WILSON NAIYOMAH

    TENANT REP

    Total calculated
    $0
    Hours/week
    2

  • RANDAL TSUDA

    PRESIDENT

    Total calculated
    $354,026
    From this org
    $0
    From related orgs
    $288,288
    Other
    $65,738
    Hours/week
    2 + 38 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
    2 + 38 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

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.

Related partnerships

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

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423209349300612

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