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Nonprofiteer
← TROY APARTMENTS INC

Form 990 for tax year 2023

Filed by TROY APARTMENTS INC.

Totals

Total revenue
$572,381
Total expenses
$735,286
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$572,010
Investment income
$296
Other revenue
$75
Total assets, end of year
$4,068,737
Total liabilities, end of year
$6,200,982
Net assets or fund balances, end of year
-$2,132,245
Program services expenses (Part IX)
$663,841
Management and general expenses
$71,445
Fundraising expenses
$0
Program service expenses (Part III)
$663,841

Program services were 90.3% 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-AFFORDABLE HOUSIN

    total $570,336 · related or exempt $570,336

  • 2b · Program service revenue: LAUNDRY & OTHER SERVIC

    total $1,674 · related or exempt $1,674

  • 3 · Investment income

    total $296 · excluded $296

  • 11a · Other revenue: MISCELLANEOUS

    total $75 · related or exempt $75

  • 11e · Other revenue, total

    $75

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $79,005 · program services $79,005

  • 9 · Other employee benefits

    total $10,928 · program services $10,928

  • 10 · Payroll taxes

    total $4,793 · program services $4,793

  • 11a · Fees: management

    total $55,642 · management and general $55,642

  • 11c · Fees: accounting

    total $15,803 · management and general $15,803

  • 11g · Fees: other

    total $40,919 · program services $40,919

  • 13 · Office expenses

    total $51,165 · program services $51,165

  • 14 · Information technology

    total $3,214 · program services $3,214

  • 16 · Occupancy

    total $80,990 · program services $80,990

  • 17 · Travel

    total $948 · program services $948

  • 19 · Conferences, conventions and meetings

    total $752 · program services $752

  • 20 · Interest

    total $201,054 · program services $201,054

  • 22 · Depreciation, depletion and amortization

    total $98,981 · program services $98,981

  • 23 · Insurance

    total $36,013 · program services $36,013

  • 24a · Other expenses: OPERATING AND MAINTENAN

    total $34,379 · program services $34,379

  • 24b · Other expenses: ADMINISTRATOR'S UNIT

    total $20,700 · program services $20,700

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $101,172 · end of year $143,948

  • 4 · Accounts receivable

    beginning of year $24,221 · end of year $22,120

  • 9 · Prepaid expenses and deferred charges

    beginning of year $33,248 · end of year $18,513

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

    $5,391,343

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

    $1,665,185

  • 10c · Land, buildings and equipment, net

    beginning of year $3,797,422 · end of year $3,726,158

  • 15 · Other assets

    beginning of year $182,507 · end of year $157,998

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,750 · end of year $7,376

  • 19 · Deferred revenue

    beginning of year $530 · end of year $152

  • 23 · Secured mortgages and notes payable

    beginning of year $4,523,401 · end of year $4,490,845

  • 25 · Other liabilities

    beginning of year $1,563,229 · end of year $1,702,609

  • 27 · Net assets without donor restrictions

    beginning of year -$1,969,340 · end of year -$2,132,245

Mission and programs · 2023

Mission

TO OWN, OPERATE, AND PROVIDE QUALITY, AFFORDABLE HOUSING FOR LOW INCOME HOUSEHOLDS, AND THEREBY BENEFIT AND SUPPORT FIRST COMMUNITY HOUSING, A CALIFORNIA PUBLIC BENEFIT CORPORATION, IN ACCORDANCE WITH INTERNAL REVENUE CODE SECTION 509(A)(3).

Activities or mission (Part I)

TO OWN, OPERATE, AND PROVIDE QUALITY, AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME HOUSEHOLDS.

  • THE ORGANIZATION OWNS, MAINTAINS, AND MANAGES GOOD QUALITY, AFFORDABLE HOUSING FOR 30 LOW-INCOME HOUSEHOLDS IN SANTA CLARA COUNTY. 114 PEOPLE WERE SERVED DURING THE YEAR.

    Expenses $663,841 · Revenue $572,085

As filed on the 2023 return.

Listed in Part VII

  • Gary Schoennauer

    CHAIRMAN OF THE BOD (THRU 06/23)

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Richard L Conniff

    CHAIRMAN/DIRECTOR/CEO

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Ru Weerakoon

    VP/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Robert Sherrard

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Dunia Noel

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Jaime Angulo

    DIRECTOR (THRU 09/23)

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Kermit Conley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Josh Cross

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Gerry Deyoung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Jeff Gee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Matthew James

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Susan Muysenberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Joyce Rodger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Geoffrey Morgan

    PRESIDENT/CEO OF FCH (THRU 06/23)

    Total calculated
    $253,469
    From this org
    $0
    From related orgs
    $224,214
    Other
    $29,255
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,620 related
    Bonus
    $0
    Other
    $0 + $67,594 related
    Deferred
    $0 + $6,726 related
    Nontaxable benefits
    $0 + $22,529 related
    Filer's total
    $0 + $253,469 related

  • David Munson

    DIRECTOR OF FINANCE OF FCH

    Total calculated
    $240,117
    From this org
    $0
    From related orgs
    $191,526
    Other
    $48,591
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $188,526 related
    Bonus
    $0 + $3,000 related
    Other
    $0
    Deferred
    $0 + $5,656 related
    Nontaxable benefits
    $0 + $42,935 related
    Filer's total
    $0 + $240,117 related

  • Michael Santero

    NON-VOTING VP & COO

    Total calculated
    $252,348
    From this org
    $0
    From related orgs
    $202,254
    Other
    $50,094
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,254 related
    Bonus
    $0 + $3,000 related
    Other
    $0
    Deferred
    $0 + $5,978 related
    Nontaxable benefits
    $0 + $44,116 related
    Filer's total
    $0 + $252,348 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

  • 4a · Severance or change-of-control payment

Answered no

  • 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
THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS. A RELATED ORGANIZATION, FIRST COMMUNITY HOUSING (FCH), USES FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE CEO OF FCH AND RELATED ORGANIZATIONS: COMPENSATION COMMITTEE FORM 990 OF OTHER ORGANIZATIONS WRITTEN EMPLOYMENT CONTRACT COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4A
GEOFFREY MORGAN, THE PRESIDENT AND CEO, LEFT FCH JUNE 2023 AND RECEIVED A SEVERANCE PAYMENT OF $67,593.78.

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.

  • FIRST COMMUNITY HOUSING

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

  • RINCON DE LOS ESTEROS INC

    501 (C ) 3 · GENERAL PARTNER FOR AFFORDABLE HOUSING · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • GUADALUPE INC

    501 (C ) 3 · GENERAL PARTNER FOR AFFORDABLE HOUSING · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • BETTY ANNE GARDENS INC

    501 (C ) 3 · GENERAL PARTNER FOR AFFORDABLE HOUSING · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • CRAIG GARDENS INC

    501 (C ) 3 · GENERAL PARTNER FOR AFFORDABLE HOUSING · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • EL PASEO APARTMENTS INC

    501 (C ) 3 · GENERAL PARTNER FOR AFFORDABLE HOUSING · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • PAULA APARTMENTS INC

    501 (C ) 3 · AFFORDABLE HOUSING APARTMENT · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • FIRST HOUSING SERVICES INC

    501 (C ) 3 · SERVICE PROVIDER FOR AFFORDABLE HOUSING · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • FIRST COMMUNITY LAND

    501 (C ) 3 · DEVELOPE AND PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES · CA

    Directly controlled by FIRST COMMUNITY HOUSING

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.

  • 1585 STUDIOS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • BAY AVENUE SENIOR HOUSING LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • BETTY ANNE GARDENS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • CASA FELIZ LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • CRAIG GARDENS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • CURTNER STUDIOS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • EL PASEO APARTMENTS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • FOURTH STREET APARTMENTS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • GISH APARTMENTS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • GUADALUPE ASSOCIATES

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • JAPANTOWN APARTMENTS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • KING ROAD ASSOCIATES

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • LEIGH AVENUE APARTMENTS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • MURPHY RANCH II LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • MURPHY RANCH LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • NORTH SAN PEDRO APARTMENTS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • PARKVIEW APARTMENTS ASSOCIATES

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • SALINAS GATEWAY LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • SECOND STREET STUDIOS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • VILLA MONTGOMERY LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • DUPONT STREET LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • ORCHARD GARDENS II LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • PACIFIC STATION NORTH LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

  • THE MAGNOLIAS LP

    AFFORDABLE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS · CA

Provenance

Return type
form_990
Tax year
2023
Filed
12 August 2024
IRS schema version
2023v5.1
Source object
202432269349300633

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