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Nonprofiteer
← ROLLAND CURTIS COMMERCIAL QALICB INC

Form 990 for tax year 2022

Filed by ROLLAND CURTIS COMMERCIAL QALICB INC.

Totals

Total revenue
$207,151
Total expenses
$560,319
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$136,159
Investment income
$27
Other revenue
$70,965
Total assets, end of year
$5,869,633
Total liabilities, end of year
$5,996,244
Net assets or fund balances, end of year
-$126,611
Program services expenses (Part IX)
$549,335
Management and general expenses
$10,984
Fundraising expenses
$0
Program service expenses (Part III)
$549,335

Program services were 98.0% 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: NET RENTAL REVENUE

    total $136,159 · related or exempt $136,159

  • 3 · Investment income

    total $27 · excluded $27

  • 11a · Other revenue: MISC REVENUE

    total $70,965 · excluded $70,965

  • 11e · Other revenue, total

    $70,965

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $38,546 · program services $38,546

  • 11c · Fees: accounting

    total $10,984 · management and general $10,984

  • 16 · Occupancy

    total $136,987 · program services $136,987

  • 22 · Depreciation, depletion and amortization

    total $250,949 · program services $250,949

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $102,638 · program services $102,638

  • 24b · Other expenses: LENDER COSTS

    total $10,707 · program services $10,707

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $9,508 · program services $9,508

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $393,978 · end of year $187,179

  • 4 · Accounts receivable

    beginning of year $103,126 · end of year $64,489

  • 9 · Prepaid expenses and deferred charges

    beginning of year $44,209 · end of year $59,940

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

    $6,248,469

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

    $833,820

  • 10c · Land, buildings and equipment, net

    beginning of year $5,660,998 · end of year $5,414,649

  • 15 · Other assets

    beginning of year $186,556 · end of year $143,376

  • 17 · Accounts payable and accrued expenses

    end of year $11,795

  • 19 · Deferred revenue

    beginning of year $12,450 · end of year $12,450

  • 21 · Escrow or custodial account liability

    beginning of year $17,450 · end of year $17,450

  • 23 · Secured mortgages and notes payable

    beginning of year $5,876,946 · end of year $5,888,658

  • 25 · Other liabilities

    beginning of year $255,464 · end of year $65,891

  • 27 · Net assets without donor restrictions

    beginning of year $226,557 · end of year -$126,611

Mission and programs · 2022

Mission

ROLLAND CURTIS COMMERCIAL QALICB, INC. IS A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION FORMED TO SUPPORT ABODE COMMUNITES, A CALIFORNIA NONPROFIT CORPORATION WHOSE MISSION IT IS TO CREATE SERVICE-ENHANCED AFFORDABLE HOUSING AND SOCIALLY-BENEFICIAL COMMUNITY FACILITIES THAT PROMOTE SOCIAL, ECONOMIC AND PHYSICAL TRANSFORMATION OF UNDERSERVED COMMUNITIES.

  • TO FURTHER ITS MISSION AND INCREASE ITS CAPACITY TO PROVIDE SERVICES TO LOW-INCOME FAMILIES, THE ORGANIZATION GROUND LEASES A PORTION OF THAT CERTAIN TRACT OF LAND LOCATED AT 1060 EXPOSITION BLVD., LOS ANGELES, CA, WHICH IS IN A CENSUS TRACT THAT THE ORGANIZATION HAS FOUND TO BE CHARACTERIZED BY ECONOMIC DISTRESS AND INADEQUATE ACCESS TO CAPITAL. IN ORDER TO HAVE A CATALYTIC EFFECT ON ECONOMIC DEVELOPMENT WITHIN THE PROPERTY AREA AND SURROUNDING LOW-INCOME COMMUNITIES, THE PROPERTY HAS BEEN DEVELOPED FOR USE (I) AS A HEALTH CENTER, WHICH PROVIDES QUALITY AND ACCESSIBLE PATIENT-CENTERED COMPREHENSIVE HEALTH SERVICES FOR LOW-INCOME INDIVIDUALS AND FAMILIES AND (II) AS COMMUNITY-MINDED COMMERCIAL RETAIL SPACE TO PROVIDE VALUABLE RESOURCES FOR FAMILIES RESIDING NEAR THE PROPERTY.

    Expenses $549,335 · Revenue $136,159

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ronne Thielen

    CHAIR

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Kenneth Krug

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Robin Hughes

    PRESIDENT (UNTIL 6/22)

    Total calculated
    $213,849
    From this org
    $0
    From related orgs
    $192,453
    Other
    $21,396
    Hours/week
    0.2 + 21.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,453 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,309 related
    Nontaxable benefits
    $0 + $14,087 related
    Filer's total
    $0 + $213,849 related

  • Holly Benson

    SECRETARY (AS OF 8/22)

    Total calculated
    $342,090
    From this org
    $0
    From related orgs
    $320,552
    Other
    $21,538
    Hours/week
    0.4 + 42.6 related

    Schedule J breakdown matched by us

    Base
    $0 + $320,552 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,957 related
    Nontaxable benefits
    $0 + $11,581 related
    Filer's total
    $0 + $342,090 related

  • Rick Saperstein

    EXEC VP/TREASURER

    Total calculated
    $289,496
    From this org
    $0
    From related orgs
    $260,686
    Other
    $28,810
    Hours/week
    0.4 + 42.6 related

    Schedule J breakdown matched by us

    Base
    $0 + $260,686 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,792 related
    Nontaxable benefits
    $0 + $18,018 related
    Filer's total
    $0 + $289,496 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
ON AN ANNUAL BASIS, COMPENSATION RECOMMENDATIONS FOR THE PRESIDENT AND EXECUTIVE VICE PRESIDENTS ARE MADE TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF ABODE COMMUNITIES, A RELATED NONPROFIT ORGANIZATION, AND AS NECESSARY OR REQUESTED, COMPARABLE COMPENSATION DATA FROM A RELIABLE THIRD-PARTY SOURCE IS OBTAINED. MINUTES OF THE MEETING ARE KEPT, TO THE EXTENT ALLOWED FOR BY CONFIDENTIALITY.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349331037

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