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Nonprofiteer
← FOLSOM OAKS APARTMENTS INC

Form 990 for tax year 2024

Filed by FOLSOM OAKS APARTMENTS INC.

Totals

Total revenue
$253,615
Total expenses
$574,638
Contributions and grants received
$162,084
Grants paid
$0
Program service revenue
$85,568
Investment income
$5,963
Other revenue
$0
Total assets, end of year
$3,002,081
Total liabilities, end of year
$5,544,275
Net assets or fund balances, end of year
-$2,542,194
Program services expenses (Part IX)
$526,795
Management and general expenses
$47,843
Fundraising expenses
$0
Program service expenses (Part III)
$526,795

Program services were 91.7% 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)

    $162,084

  • 2a · Program service revenue: RENT

    total $85,568 · related or exempt $85,568

  • 3 · Investment income

    total $5,963 · excluded $5,963

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $12,021 · program services $12,021

  • 8 · Pension plan contributions

    total $929 · program services $929

  • 9 · Other employee benefits

    total $13,024 · program services $13,024

  • 10 · Payroll taxes

    total $2,676 · program services $2,676

  • 11c · Fees: accounting

    total $14,409 · management and general $14,409

  • 11g · Fees: other

    total $40 · management and general $40

  • 12 · Advertising and promotion

    total $303 · program services $303

  • 13 · Office expenses

    total $818 · program services $818

  • 14 · Information technology

    total $6,796 · management and general $6,796

  • 16 · Occupancy

    total $259,823 · program services $259,823

  • 17 · Travel

    total $876 · management and general $876

  • 22 · Depreciation, depletion and amortization

    total $209,754 · program services $209,754

  • 23 · Insurance

    total $12,834 · program services $12,834

  • 24a · Other expenses: MISC. EXPENSES

    total $31,172 · program services $13,470 · management and general $17,702

  • 24b · Other expenses: TELECOMMUNICATIONS

    total $7,735 · management and general $7,735

  • 24c · Other expenses: FURNITURE AND EQUIPMENT

    total $1,143 · program services $1,143

  • 24d · Other expenses: TRAINING AND DEVELOPMEN

    total $285 · management and general $285

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $100 · end of year $212,133

  • 2 · Savings and temporary cash investments

    beginning of year $379,749 · end of year $162,532

  • 4 · Accounts receivable

    beginning of year $17,834

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

    $5,676,395

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

    $3,048,979

  • 10c · Land, buildings and equipment, net

    beginning of year $2,837,170 · end of year $2,627,416

  • 17 · Accounts payable and accrued expenses

    beginning of year $929,550 · end of year $1,017,506

  • 23 · Secured mortgages and notes payable

    beginning of year $4,419,455 · end of year $4,474,096

  • 25 · Other liabilities

    beginning of year $107,019 · end of year $52,673

  • 27 · Net assets without donor restrictions

    beginning of year -$4,088,918 · end of year -$4,355,301

  • 28 · Net assets with donor restrictions

    beginning of year $1,867,747 · end of year $1,813,107

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE HOUSING IN FOLSOM FOR PEOPLE WITH SPECIAL NEEDS.

  • THE FOLSOM OAKS APARTMENTS PROVIDE AFFORDABLE HOUSING WITH SUPPORTS FOR LOW-INCOME HOUSEHOLDS IN WHICH AT LEAST ONE ADULT HOUSEHOLD MEMBER HAS A QUALIFYING DISABILITY. THE COMPLEX INCLUDES EIGHTEEN (18) ONE, TWO, AND THREE BEDROOM RENTAL UNITS, AN ADDITIONAL MANAGER'S UNIT, A TOT LOT, PICNIC AREA, AND A COMMUNITY ROOM WITH OFFICES FOR ASSIGNED STAFF.

    Expenses $526,795 · Revenue $85,568

As filed on the 2024 return.

Listed in Part VII

  • Christina Bilyeu

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Virgil Pacheco

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Felicia Haecker

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Matthew Decker

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Sara Collette

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • April Ludwig

    CEO

    Total calculated
    $224,146
    From this org
    $0
    From related orgs
    $212,298
    Other
    $11,848
    Hours/week
    4 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,298 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,942 related
    Nontaxable benefits
    $0 + $7,906 related
    Filer's total
    $0 + $224,146 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

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.

  • TLCS INC

    501(C)(3) · CASE MGMT AND HOUSING SVCS FOR INDIVIDUALS WITH PSYCHIATRIC DISABILITIES · CA

Provenance

Return type
form_990
Tax year
2024
Filed
27 January 2026
IRS schema version
2024v5.5
Source object
202640279349301914

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