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← IVY HILL DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by IVY HILL DEVELOPMENT CORPORATION.

Totals

Total revenue
$347,455
Total expenses
$550,937
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$345,222
Investment income
$512
Other revenue
$1,721
Total assets, end of year
$2,374,258
Total liabilities, end of year
$4,763,076
Net assets or fund balances, end of year
-$2,388,818
Program services expenses (Part IX)
$404,500
Management and general expenses
$146,437
Fundraising expenses
$0
Program service expenses (Part III)
$404,500

Program services were 73.4% 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: RENT REVENUE

    total $345,222 · related or exempt $345,222

  • 3 · Investment income

    total $512 · excluded $512

  • 11a · Other revenue: OTHER INCOME

    total $1,721 · related or exempt $1,721

  • 11e · Other revenue, total

    $1,721

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $50,708 · program services $16,649 · management and general $34,059

  • 9 · Other employee benefits

    total $11,200 · program services $11,200

  • 10 · Payroll taxes

    total $3,897 · program services $3,897

  • 11b · Fees: legal

    total $3,100 · management and general $3,100

  • 11c · Fees: accounting

    total $7,139 · management and general $7,139

  • 11g · Fees: other

    total $2,062 · management and general $2,062

  • 20 · Interest

    total $102,212 · program services $102,212

  • 22 · Depreciation, depletion and amortization

    total $79,733 · program services $79,733

  • 23 · Insurance

    total $31,169 · program services $31,169

  • 24a · Other expenses: GENERAL AND ADMINISTRAT

    total $77,858 · management and general $77,858

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $71,479 · program services $71,479

  • 24c · Other expenses: UTILITIES

    total $63,966 · program services $63,966

  • 24d · Other expenses: PROPERTY MANAGEMENT FEE

    total $19,656 · management and general $19,656

  • 24e · All other expenses

    total $26,758 · program services $24,195 · management and general $2,563

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,181 · end of year $12,722

  • 4 · Accounts receivable

    beginning of year $14,041 · end of year $5,031

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

    $3,170,027

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

    $1,257,141

  • 10c · Land, buildings and equipment, net

    beginning of year $1,992,619 · end of year $1,912,886

  • 15 · Other assets

    beginning of year $429,672 · end of year $443,619

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,085 · end of year $2,265

  • 23 · Secured mortgages and notes payable

    beginning of year $3,186,987 · end of year $3,186,987

  • 25 · Other liabilities

    beginning of year $1,429,777 · end of year $1,573,824

  • 27 · Net assets without donor restrictions

    beginning of year -$2,185,336 · end of year -$2,388,818

Mission and programs · 2023

Mission

THE ORGANIZATION OPERATES 21 APARTMENT UNITS TO PROVIDE DECENT, AFFORDABLE AND SAFE HOUSING TO LOW INCOME INDIVIDUALS.

Activities or mission (Part I)

TO PROVIDE LOW INCOME HOUSING

  • THE ORGANIZATION OPERATES 21 LOW INCOME UNITS TO PROVIDE DECENT, AFFORDABLE AND SAFE HOUSING TO LOW INCOME INDIVIDUALS.

    Expenses $404,500 · Revenue $346,943

As filed on the 2023 return.

Listed in Part VII

  • Ted Dang

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Richard Quach

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Klein Lieu

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Andre H Madeira

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $58,881
    From this org
    $0
    From related orgs
    $57,828
    Other
    $1,053
    Hours/week
    0.5

  • Sean Sullivan

    INTERIM CHIEF EXECUTIVE OFFICER

    Total calculated
    $64,262
    From this org
    $0
    From related orgs
    $63,462
    Other
    $800
    Hours/week
    0.5

  • Lina Sheth

    INTERIM CHIEF EXECUTIVE OFFICER

    Total calculated
    $225,240
    From this org
    $0
    From related orgs
    $223,500
    Other
    $1,740
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $223,500 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,740 related
    Filer's total
    $0 + $225,240 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

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.

  • AVALON HOUSING INC

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • MADRONE HOTEL INC

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • MAR HOUSING INC

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • SEMIMARY AVENUE DEVELOPMENT CORPORATION

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • SWANS MARKET INC

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • MADISON PARK HOUSING INC

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • BAYPORTE DEVELOPMENT CORPORATION

    501(C)(3) · AFFORDABLE HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • WEST OAKLAND NEIGHBORHOOD HOUSING CORPORATION

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • EAST BAY ASIAN DEVELOPMENT CORPORATION

    501(C)(3) · AFFORDABLE HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • EAST 14TH STREET INC

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • SAN PABLO RENAISSANCE INC

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • HOMEPLACE INITIATIVE CORPORATION

    501(C)(3) · LOW INCOME HOUSING · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

  • PRESERVATION PARK CENTER INC

    501(C)(3) · COMMERCIAL REVITALIZATION · CA

    Directly controlled by EAST BAY ASIAN LOCAL DEVELOPMENT CORPORATION

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.

  • 11J FAMILY HOUSING LP

    LOW-INCOME HOUSING · CA

  • 1825 SAN PABLO AVE LLC

    COMMERCIAL PROPERTY · CA

  • 26TH AVENUE HOUSING ASSOCIATES LP

    LOW INCOME HOUSING · CA

  • 285 12TH STREET LP

    LOW INCOME HOUSING · CA

  • 34SP DEVELOPMENT LP

    LOW INCOME HOUSING · CA

  • 34TH & SAN PABLO LP

    LOW-INCOME HOUSING · CA

  • AVALON SENIOR HOUSING LP

    LOW INCOME HOUSING · CA

  • CALIFORNIA HOTEL OAKLAND LP

    LOW-INCOME HOUSING · CA

  • CHINATOWN TOD SENIOR HOUSING LP

    LOW INCOME HOUSING · CA

  • DRASIN MANOR LP

    LOW-INCOME HOUSING · CA

  • EAST 12TH STREET HOUSING LP

    LOW INCOME HOUSING · CA

  • EAST BAY CAPITAL FUND I LP

    LOW INCOME HOUSING · CA

  • EAST BAY CAPITAL FUND II LP

    LOW INCOME HOUSING · CA

  • EAST BAY CAPITAL FUND III LP

    LOW INCOME HOUSING · CA

  • EAST BAY CAPITAL PORTFOLIO I FUND IV LP

    LOW INCOME HOUSING · CA

  • EAST BAY CAPITAL PORTFOLIO II FUND IV LP

    LOW INCOME HOUSING · CA

  • EAST BAY HIGHLAND PALMS II LP

    LOW INCOME HOUSING · CA

  • FRANK G MAR LP

    LOW INCOME HOUSING · CA

  • FRUITVALE TRANSIT VILLAGE II-A LP

    LOW INCOME HOUSING · CA

  • GIANT DEVELOPMENT LP

    LOW INCOME HOUSING · CA

  • GIANT DEVELOPMENT II LLC

    LOW INCOME HOUSING · CA

  • GIANT DEVELOPMENT II LP

    LOW INCOME HOUSING · CA

  • HIN-NU GARVEY ASSOCIATES LP

    LOW INCOME HOUSING · CA

  • JLG SENIOR HOUSING LP

    LOW INCOME HOUSING · CA

  • LAKEHOUSE COMMONS AFFORDABLE HOUSING LP

    LOW INCOME HOUSING · CA

  • LILIE MAE JONES PLAZA LP

    LOW INCOME HOUSING · CA

  • LION CREEK 2 PHASE I LLC

    LOW INCOME HOUSING · CA

  • LION CREEK 2 PHASE II LLC

    LOW INCOME HOUSING · CA

  • MADISON PARK HOUSING ASSOCIATES II LP

    LOW INCOME HOUSING · CA

  • MADRONE HOTEL ASSOCIATES A CALIFORNIA LIMITED PARTNERSHIP

    LOW INCOME HOUSING · CA

  • OAKLAND POINT LIMITED PARTNERSHIP

    LOW INCOME HOUSING · CA

  • PHOENIX 801 PINE LP

    LOW INCOME HOUSING · CA

  • SAN PABLO HOTEL ASSOCIATESII LP

    LOW INCOME HOUSING · CA

  • SEVEN DIRECTIONS HOUSING LIMITED PARTNERSHIP

    LOW INCOME HOUSING · CA

  • SEVEN DIRECTIONS MANAGEMENT LLC

    LOW-INCOME HOUSING · CA

  • SWANS MARKET PARTNERSHIP LP

    LOW INCOME HOUSING · CA

  • WEST GRAND & BRUSH 1 LP

    LOW INCOME HOUSING · CA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MADISON PARK HOUSING ASSOCIATES II LLC

    C · LOW INCOME HOUSING · CA

  • LAKESIDE DEVELOPMENT CORPORATION

    C · LOW INCOME HOUSING · CA

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202403169349301200

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