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← WEST VALLEY COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by WEST VALLEY COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$85,974
Total expenses
$134,310
Contributions and grants received
$7,064
Grants paid
$0
Program service revenue
$77,882
Investment income
$1
Other revenue
$1,027
Total assets, end of year
$495,402
Total liabilities, end of year
$1,179,521
Net assets or fund balances, end of year
-$684,119
Program services expenses (Part IX)
$134,310
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$134,310

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.

  • 1e · Government grants (contributions)

    $7,064

  • 2a · Program service revenue: RENT REVENUE, NET

    total $77,882 · related or exempt $77,882

  • 3 · Investment income

    total $1 · excluded $1

  • 11d · All other revenue

    total $1,027 · related or exempt $1,027

  • 11e · Other revenue, total

    $1,027

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $8,640 · program services $8,640

  • 11b · Fees: legal

    total $438 · program services $438

  • 11c · Fees: accounting

    total $12,451 · program services $12,451

  • 11g · Fees: other

    total $1,455 · program services $1,455

  • 13 · Office expenses

    total $180 · program services $180

  • 14 · Information technology

    total $1,890 · program services $1,890

  • 16 · Occupancy

    total $27,275 · program services $27,275

  • 20 · Interest

    total $30,514 · program services $30,514

  • 22 · Depreciation, depletion and amortization

    total $19,089 · program services $19,089

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $31,011 · program services $31,011

  • 24b · Other expenses: TAXES & LICENSES

    total $952 · program services $952

  • 24c · Other expenses: BAD DEBT/EVICTION EXPEN

    total $58 · program services $58

  • 24e · All other expenses

    total $357 · program services $357

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200 · end of year $200

  • 2 · Savings and temporary cash investments

    beginning of year $5,616 · end of year $5,271

  • 4 · Accounts receivable

    beginning of year $10,130 · end of year $4,616

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,964 · end of year $4,464

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

    $800,033

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

    $322,269

  • 10c · Land, buildings and equipment, net

    beginning of year $490,039 · end of year $477,764

  • 15 · Other assets

    beginning of year $3,087 · end of year $3,087

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,837 · end of year $16,477

  • 21 · Escrow or custodial account liability

    end of year $4,320

  • 24 · Unsecured notes and loans payable

    beginning of year $1,132,691 · end of year $1,142,857

  • 25 · Other liabilities

    beginning of year $4,947 · end of year $15,867

  • 27 · Net assets without donor restrictions

    beginning of year -$639,439 · end of year -$684,119

Mission and programs · 2022

Mission

OPERATION OF AN 8-UNIT LOW-INCOME HOUSING APARTMENT BUILDING LOCATED IN LOS ANGELES, CA

Activities or mission (Part I)

OPERATION OF AN 8-UNIT LOW-INCOME HOUSING APARTMENT BLDG LOCATED IN LOS ANGELES, CA

  • OPERATION OF AN 8-UNIT LOW-INCOME HOUSING APARTMENT BUILDING LOCATED IN LOS ANGELES, CA

    Expenses $134,310 · Revenue $78,909

As filed on the 2022 return.

Listed in Part VII

  • Ed Viramontes

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jess Womack

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Marta Sanchez

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mitch Thompson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

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.

Related partnerships

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

  • WEST VALLEY HART LP

    RELATED · RENTAL REAL ESTATE · CA · 0.1% owned · share of income -$41 · share of assets $196,817 · general or managing partner

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401419349300625

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