Skip to content
Nonprofiteer
← OUR COASTAL VILLAGE FOUNDATION INC

Form 990 for tax year 2023

Filed by OUR COASTAL VILLAGE FOUNDATION INC.

Totals

Total revenue
$420,383
Total expenses
$167,341
Contributions and grants received
$156,604
Grants paid
$17,500
Program service revenue
$254,748
Investment income
$9,031
Other revenue
$0
Total assets, end of year
$3,104,758
Total liabilities, end of year
$422,500
Net assets or fund balances, end of year
$2,682,258
Program services expenses (Part IX)
$167,341
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$167,341

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $156,604

  • 2a · Program service revenue: MISC REVENUE

    total $1,748 · related or exempt $1,748

  • 2b · Program service revenue: OMA DEV FEES

    total $253,000 · related or exempt $253,000

  • 3 · Investment income

    total $16,193 · related or exempt $16,193

  • 7a · Gross sales of assets other than inventory

    other assets -$7,162

  • 7c · Gain or loss

    other assets -$7,162

  • 7d · Net gain or loss

    total -$7,162 · related or exempt -$7,162

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $17,500 · program services $17,500

  • 24a · Other expenses: DEVELOPMENT EXPENSES

    total $145,375 · program services $145,375

  • 24e · All other expenses

    total $4,466 · program services $4,466

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $512,651 · end of year $69,505

  • 9 · Prepaid expenses and deferred charges

    end of year $3,335

  • 12 · Investments: other securities

    beginning of year $48,393 · end of year $618,848

  • 13 · Investments: program-related

    beginning of year $2,290,672 · end of year $2,413,070

  • 23 · Secured mortgages and notes payable

    beginning of year $422,500

  • 25 · Other liabilities

    end of year $422,500

  • 27 · Net assets without donor restrictions

    beginning of year $2,429,216 · end of year $2,682,258

Mission and programs · 2023

Mission

PROVIDING RELIEF TO THE POOR, DISTRESSED, AND DISADVANTAGED ON THE CENTRAL OREGON COAST, PRIMARILY THROUGH AFFORDABLE HOUSING.

  • OPERATION OF A 21 UNIT LIHTC AFFORDABLE WORKFORCE HOUSING DEVELOPMENT THROUGH FISTERRA GARDENS TOWNHOMES LP, A LIMITED PARTNERSHIP IN WHICH OUR COASTAL VILLAGE , INC. IS GENERAL PARTNER. THE PROJECT WAS COMPLETED IN 2019. ALL UNITS ARE SET ASIDE FOR HOUSEHOLDS EARNING NOT MORE THAN 60% OF AREA MEDIAN INCOME. SINCE COMPLETION ALL UNITS HAVE BEEN RENTED TO ELIGIBLE HOUSEHOLDS.

  • SUPERVISION OF AN AFFORDABILITY COVENANT APPLICABLE TO SEVEN TOWNHOUSE UNITS OWNED BY PERSONS EARNING AT OR UNDER 80% OF AREA MEDIAN INCOME. ALL FUTURE BUYERS OR TENANTS MUST MEET THE INCOME ELIGIBILITY. RESALE PRICES CANNOT EXCEED THE PRICE PAID PLUS 2% PER YEAR FOR EACH FULL YEAR OF OWNERSHIP.

  • DEVELOPMENT OF A 24 UNIT LIHTC AFFORDABLE RENTAL HOUSING COMPLEX IN FLORENCE OR, KNOWN AS OAK MANOR APARTMENTS, OF WHICH SIX UNITS WILL BE AVAILABLE TO HOUSEHOLDS EARNING AT OR UNDER 30% OF AREA MEDIAN INCOME; AND EIGHTEEN UNITS WILL BE AVAILABLE TO HOUSEHOLDS EARNING AT OR UNDER 60% OF AREA MEDIAN INCOME. CONSTRUCTION BEGAN IN APRIL 2023 AND WILL END IN MARCH 2024.

    Expenses $167,341 · Revenue $254,708

As filed on the 2023 return.

Listed in Part VII

  • K Layne Morrill

    PRESIDENT DIRECTOR

    Total calculated
    $141,750
    From this org
    $141,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Dennis Snyder

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • James Craig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Elizabeth Morrill

    DIRECTOR SECRETARY

    Total calculated
    $0
    Hours/week
    0

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.

Grants on this return

No itemized grants to organizations on this return.

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.

  • JHWF LLC NO EIN

    HOLDS TITLE TO TOWNHOMES · OR

    Directly controlled by OUR COASTAL VILLAGE INC

Related partnerships

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

  • FISTERRA GAREENS TOWNHOMES LTD PTNS

    RELATED · AFFORDABLE HOUSING · OR · 0.01% owned · share of income -$18

    Directly controlled by OUR COASTAL VILLAGE INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 June 2024
IRS schema version
2023v5.1
Source object
202432569349301828

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.