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Nonprofiteer
← PAHC APARTMENTS INC

Form 990 for tax year 2023

Filed by PAHC APARTMENTS INC.

Totals

Total revenue
$4,264,832
Total expenses
$3,956,275
Contributions and grants received
$0
Grants paid
$2,764,194
Program service revenue
$4,159,012
Investment income
$105,820
Other revenue
$0
Total assets, end of year
$13,980,509
Total liabilities, end of year
$2,519,897
Net assets or fund balances, end of year
$11,460,612
Program services expenses (Part IX)
$3,773,461
Management and general expenses
$182,814
Fundraising expenses
$0
Program service expenses (Part III)
$3,773,461

Program services were 95.4% 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: INCOME FROM AFFORDABLE

    total $2,655,127 · related or exempt $2,655,127

  • 2b · Program service revenue: RENTAL INCOME

    total $867,181 · related or exempt $867,181

  • 2c · Program service revenue: HOUSING ASSISTANCE PAY

    total $636,704 · related or exempt $636,704

  • 3 · Investment income

    total $105,820 · excluded $105,820

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,764,194 · program services $2,764,194

  • 7 · Other salaries and wages

    total $167,063 · program services $167,063

  • 9 · Other employee benefits

    total $52,858 · program services $52,858

  • 10 · Payroll taxes

    total $12,913 · program services $12,913

  • 11a · Fees: management

    total $128,348 · management and general $128,348

  • 11b · Fees: legal

    total $41,230 · program services $41,230

  • 11c · Fees: accounting

    total $44,099 · management and general $44,099

  • 11g · Fees: other

    total $10,367 · management and general $10,367

  • 12 · Advertising and promotion

    total $8,049 · program services $8,049

  • 13 · Office expenses

    total $15,751 · program services $15,751

  • 20 · Interest

    total $17,429 · program services $17,429

  • 22 · Depreciation, depletion and amortization

    total $146,535 · program services $146,535

  • 23 · Insurance

    total $53,769 · program services $53,769

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $227,440 · program services $227,440

  • 24b · Other expenses: RESIDENT SERVICES FEES

    total $113,395 · program services $113,395

  • 24c · Other expenses: UTILITIES

    total $83,914 · program services $83,914

  • 24d · Other expenses: REAL ESTATE TAX

    total $36,660 · program services $36,660

  • 24e · All other expenses

    total $32,261 · program services $32,261

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $700,305 · end of year $465,046

  • 2 · Savings and temporary cash investments

    beginning of year $1,125,015 · end of year $564,751

  • 4 · Accounts receivable

    beginning of year $283,851 · end of year $542,775

  • 9 · Prepaid expenses and deferred charges

    beginning of year $30,744 · end of year $22,869

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

    $8,853,237

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

    $6,313,043

  • 10c · Land, buildings and equipment, net

    beginning of year $2,422,378 · end of year $2,540,194

  • 13 · Investments: program-related

    beginning of year $8,131,099 · end of year $8,012,592

  • 15 · Other assets

    beginning of year $1,273,439 · end of year $1,832,282

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,305 · end of year $58,968

  • 19 · Deferred revenue

    beginning of year $38,316 · end of year $25,511

  • 23 · Secured mortgages and notes payable

    beginning of year $2,514,197 · end of year $2,301,476

  • 25 · Other liabilities

    beginning of year $242,958 · end of year $133,942

  • 27 · Net assets without donor restrictions

    beginning of year $11,152,055 · end of year $11,460,612

Mission and programs · 2023

Mission

TO PROVIDE HOUSING FOR LOW AND MODERATE INCOME PERSONS AND TO LESSEN THE BURDEN OF LOCAL GOVERNMENT BY DEVELOPING AND OPERATING HOUSING FOR LOW AND MODERATE INCOME PERSONS WITHIN SANTA CLARA AND SAN MATEO COUNTIES.

Activities or mission (Part I)

PROVISION OF DECENT AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS.

  • PROVISION OF DECENT AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS.

    Expenses $3,773,461 · Grants $2,764,194 · Revenue $4,159,012

As filed on the 2023 return.

Listed in Part VII

  • JEAN MCCOWN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JACK THOMPSON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BONNIE PACKER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MENKA SETHI

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH MARTIGNETTI JR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARGARET SLOAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAREN ROUTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RONALD HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LORI SAITO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH RATNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JUAN MENDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM MYERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RACHEL HORST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANNA BOTELHO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • OLYA KRASNYKH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MELISSA SCHILD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RANDAL TSUDA

    PRESIDENT & CEO

    Total calculated
    $354,026
    From this org
    $0
    From related orgs
    $288,288
    Other
    $65,738
    Hours/week
    4 + 36 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
    4 + 36 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

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.

  • BARKER HOTEL LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $351,387 · assets $1,995,656

    Directly controlled by PAHC APARTMENTS INC

  • OAK MANOR TOWNHOUSES LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $1,214,852 · assets $3,643,548

    Directly controlled by PAHC APARTMENTS INC

  • PAHC PARTNERS LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $8,836 · assets $53,730

    Directly controlled by PAHC APARTMENTS INC

  • PAHC PROPERTIES LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $48 · assets $29,511

    Directly controlled by PAHC APARTMENTS INC

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
202443209349300614

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