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Nonprofiteer
← ALTA HOUSING

Form 990 for tax year 2023

Filed by ALTA HOUSING.

Totals

Total revenue
$7,194,680
Total expenses
$4,710,247
Contributions and grants received
$4,336,340
Grants paid
$0
Program service revenue
$2,042,258
Investment income
$816,082
Other revenue
$0
Total assets, end of year
$63,293,834
Total liabilities, end of year
$18,125,233
Net assets or fund balances, end of year
$45,168,601
Program services expenses (Part IX)
$4,151,677
Management and general expenses
$558,570
Fundraising expenses
$0
Program service expenses (Part III)
$4,151,677

Program services were 88.1% 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.

  • 1d · Related organizations

    $3,335,000

  • 1e · Government grants (contributions)

    $1,000,000

  • 1f · All other contributions, gifts and grants

    $1,340

  • 2a · Program service revenue: RENTAL INCOME

    total $1,004,835 · related or exempt $1,004,835

  • 2b · Program service revenue: DEVELOPER FEES

    total $565,397 · related or exempt $565,397

  • 2c · Program service revenue: CONSULTING FEES

    total $292,437 · related or exempt $292,437

  • 2d · Program service revenue: OTHER INCOME

    total $156,604 · related or exempt $156,604

  • 2e · Program service revenue: MANAGEMENT FEES

    total $25,000 · related or exempt $25,000

  • 2f · All other program service revenue

    total -$2,015 · related or exempt -$2,015

  • 3 · Investment income

    total $816,082 · excluded $816,082

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,020,725 · program services $1,717,616 · management and general $303,109

  • 9 · Other employee benefits

    total $457,235 · program services $388,650 · management and general $68,585

  • 10 · Payroll taxes

    total $138,884 · program services $118,051 · management and general $20,833

  • 11a · Fees: management

    total $55,909 · program services $47,523 · management and general $8,386

  • 11c · Fees: accounting

    total $69,675 · program services $59,224 · management and general $10,451

  • 11g · Fees: other

    total $65,367 · program services $55,562 · management and general $9,805

  • 12 · Advertising and promotion

    total $12,296 · program services $10,452 · management and general $1,844

  • 14 · Information technology

    total $36,982 · program services $31,435 · management and general $5,547

  • 16 · Occupancy

    total $149,457 · program services $127,038 · management and general $22,419

  • 17 · Travel

    total $29,082 · program services $24,720 · management and general $4,362

  • 20 · Interest

    total $11,842 · program services $10,066 · management and general $1,776

  • 22 · Depreciation, depletion and amortization

    total $106,376 · program services $90,420 · management and general $15,956

  • 23 · Insurance

    total $56,634 · program services $48,139 · management and general $8,495

  • 24a · Other expenses: GROUND LEASE

    total $718,759 · program services $718,759

  • 24b · Other expenses: OTHER PROGRAM COSTS

    total $267,686 · program services $267,686

  • 24c · Other expenses: OPERATING & MAINTENANCE

    total $218,025 · program services $185,321 · management and general $32,704

  • 24d · Other expenses: UTILITIES

    total $152,832 · program services $129,907 · management and general $22,925

  • 24e · All other expenses

    total $142,481 · program services $121,108 · management and general $21,373

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,721,721 · end of year $8,266,482

  • 2 · Savings and temporary cash investments

    beginning of year $2,264,063 · end of year $2,156,004

  • 3 · Pledges and grants receivable

    beginning of year $299,062 · end of year $67,488

  • 4 · Accounts receivable

    beginning of year $29,886 · end of year $19,527

  • 7 · Other notes and loans receivable

    beginning of year $1,521,202 · end of year $1,551,510

  • 9 · Prepaid expenses and deferred charges

    beginning of year $114,326 · end of year $607,202

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

    $21,562,309

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

    $1,434,274

  • 10c · Land, buildings and equipment, net

    beginning of year $20,214,671 · end of year $20,128,035

  • 12 · Investments: other securities

    beginning of year $12,620,838 · end of year $14,305,766

  • 13 · Investments: program-related

    beginning of year $269,038 · end of year $164,223

  • 15 · Other assets

    beginning of year $19,180,934 · end of year $16,027,597

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,219 · end of year -$26,574

  • 19 · Deferred revenue

    beginning of year $8,231 · end of year $7,036

  • 23 · Secured mortgages and notes payable

    beginning of year $5,716,875 · end of year $11,272,890

  • 25 · Other liabilities

    beginning of year $10,683,411 · end of year $6,871,881

  • 27 · Net assets without donor restrictions

    beginning of year $41,818,005 · end of year $45,168,601

Mission and programs · 2023

Mission

TO FOSTER, DEVELOP, ACQUIRE, REHABILITATE, MANAGE AND OPERATE LOW AND MODERATE-INCOME HOUSING IN PALO ALTO, CA. INCLUDES ACTIVITY OF PAHC HOUSING SERVICES LLC (LIMITED LIABILITY COMPANY), A DISREGARDED ENTITY WHICH PROVIDES CONSULTING SERVICES FOR THE BENEFIT OF LOW-INCOME HOUSING INDIVIDUALS.

Activities or mission (Part I)

FOSTER, DEVELOP, ACQUIRE, REHABILITATE, MANAGE, OPERATE LOW AND MODERATE INCOME HOUSING IN PALO ALTO, CA.

  • FOSTER, DEVELOP, ACQUIRE, REHABILITATE, MANAGE AND OPERATE LOW- AND MODERATE-INCOME HOUSING FOR INDIVIDUALS AND FAMILIES IN PALO ALTO, CA.

    Expenses $3,853,361 · Revenue $1,729,605

  • CONSULTING SERVICES FOR LOW INCOME HOUSING PROGRAMS.

    Expenses $298,316 · Revenue $312,653

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

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

  • Sheryl Klein

    COO

    Total calculated
    $238,176
    From this org
    $0
    From related orgs
    $223,238
    Other
    $14,938
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $216,634 related
    Bonus
    $0 + $6,604 related
    Other
    $0
    Deferred
    $0 + $13,394 related
    Nontaxable benefits
    $0 + $1,544 related
    Filer's total
    $0 + $238,176 related

  • Serena Chung

    CHIEF PEOPLE OFFICER

    Total calculated
    $148,849
    From this org
    $0
    From related orgs
    $120,380
    Other
    $28,469
    Hours/week
    4 + 36 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

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.

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.

  • 2821 ECR LLC

    LOW INCOME HOUSING · CA · income $2,325 · assets $96,989

    Directly controlled by ALTA HOUSING

  • 950 ECR LLC

    LOW INCOME HOUSING · CA · income $28,157 · assets $247,734

    Directly controlled by ALTA HOUSING

  • AH 1818 ERC LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by ALTA HOUSING

  • AH 2320 ECR LLC

    LOW INCOME HOUSING · CA · income $0 · assets $6,519,790

    Directly controlled by ALTA HOUSING

  • AH 2801 ECR LLC

    LOW INCOME HOUSING · CA · income $0 · assets $5,592,442

    Directly controlled by ALTA HOUSING

  • AH BESPOKE LLC

    LOW INCOME HOUSING · CA · income $0 · assets $0

    Directly controlled by ALTA HOUSING

  • CALIFORNIA PARK LLC

    LOW INCOME HOUSING · CA · income $1,017,765 · assets $7,636,534

    Directly controlled by ALTA HOUSING

  • EL CAMINO PROPERTY LLC

    LOW INCOME HOUSING · CA · income $25,379 · assets $560,041

    Directly controlled by ALTA HOUSING

  • ALTA HOUSING HOUSING SERVICES LLC

    LOW INCOME HOUSING · CA · income $313,068 · assets $214,228

    Directly controlled by ALTA HOUSING

  • TERRA BELLA I LLC

    LOW INCOME HOUSING · CA · income $10,261 · assets $10,905,663

    Directly controlled by ALTA HOUSING

  • TERRA BELLA II LLC

    LOW INCOME HOUSING · CA · income $1,769 · assets $8,372,148

    Directly controlled by ALTA HOUSING

Related partnerships

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

  • 1701 ECR LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 0.01% owned · share of income $24,852 · share of assets $2,168,833 · general or managing partner

    Directly controlled by EL CAMINO PROPERTY LLC

  • 2821 EL CAMINO REAL LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 0.01% owned · share of income -$125,955 · share of assets $643,026 · general or managing partner

    Directly controlled by 2821 ECR LLC

  • 950 EL CAMINO REAL LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 0.01% owned · share of income $26,348 · share of assets $4,488,279 · general or managing partner

    Directly controlled by 950 ECR LLC

  • AH 2801 ECR LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 99% owned · general or managing partner

    Directly controlled by AH 2801 ECR LLC & ALTA HOUSING

  • AH BESPOKE LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 99% owned · general or managing partner

    Directly controlled by AH BESPOKE LLC & ALTA HOUSING

  • ALMA PLACE ASSOCIATES

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC ALMA PLACE INC & PAHC APARTMENTS INC

  • ARASTRADERO PARK LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 1% owned

    Directly controlled by ARASTRADERO PARK APARTMENTS CORP & ALTA HOUSING

  • COLORADO PARK LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by COLORADO PARK HOUSING CORP

  • OAK COURT APARTMENTS LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC PARTNERS LLC & PAHC SHERIDAN APARTMENTS INC

  • SHERIDAN APTS AFFORDABLE HOUSING LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC APARTMENTS INC & PAHC SHERIDAN APARTMENTS INC

  • TERRA BELLA I LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 99% owned · share of income -$800 · share of assets $15,168 · general or managing partner

    Directly controlled by TERRA BELLA I LLC

  • TERRA BELLA II LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 99% owned · general or managing partner

    Directly controlled by TERRA BELLA II LLC & ALTA HOUSING

  • TREE HOUSE APARTMENTS LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC CALIFORNIA PARK CORP

  • WEBSTER WOOD APARTMENTS LLC

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC APARTMENTS INC & PAHC PROPERTIES CORP

  • WILTON ECR LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by WILTON COURT LLC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349325033

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