Skip to content
Nonprofiteer
← ROLLAND CURTIS COMMERCIAL QALICB INC

Form 990 for tax year 2023

Filed by ROLLAND CURTIS COMMERCIAL QALICB INC.

Totals

Total revenue
$200,910
Total expenses
$533,029
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$136,160
Investment income
$38
Other revenue
$64,712
Total assets, end of year
$5,574,704
Total liabilities, end of year
$6,033,434
Net assets or fund balances, end of year
-$458,730
Program services expenses (Part IX)
$517,408
Management and general expenses
$15,621
Fundraising expenses
$0
Program service expenses (Part III)
$517,408

Program services were 97.1% 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.

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $136,160 · related or exempt $136,160

  • 3 · Investment income

    total $38 · excluded $38

  • 11d · All other revenue

    total $64,712 · related or exempt $64,712

  • 11e · Other revenue, total

    $64,712

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $38,672 · program services $38,672

  • 11c · Fees: accounting

    total $15,621 · management and general $15,621

  • 16 · Occupancy

    total $148,631 · program services $148,631

  • 22 · Depreciation, depletion and amortization

    total $254,649 · program services $254,649

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $63,536 · program services $63,536

  • 24b · Other expenses: LENDER COSTS

    total $11,920 · program services $11,920

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $187,179 · end of year $65,524

  • 4 · Accounts receivable

    beginning of year $64,489 · end of year $65,669

  • 9 · Prepaid expenses and deferred charges

    beginning of year $59,940 · end of year $72,661

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

    $6,359,469

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

    $1,088,469

  • 10c · Land, buildings and equipment, net

    beginning of year $5,414,649 · end of year $5,271,000

  • 15 · Other assets

    beginning of year $143,376 · end of year $99,850

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,795 · end of year $16,699

  • 19 · Deferred revenue

    beginning of year $12,450 · end of year $12,450

  • 21 · Escrow or custodial account liability

    beginning of year $17,450 · end of year $17,450

  • 23 · Secured mortgages and notes payable

    beginning of year $5,888,658 · end of year $5,900,370

  • 25 · Other liabilities

    beginning of year $65,891 · end of year $86,465

  • 27 · Net assets without donor restrictions

    beginning of year -$126,611 · end of year -$458,730

Mission and programs · 2023

Mission

ROLLAND CURTIS COMMERCIAL QALICB, INC. IS A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION FORMED TO SUPPORT ABODE COMMUNITES, A CALIFORNIA NONPROFIT CORPORATION WHOSE MISSION IT IS TO CREATE SERVICE-ENHANCED AFFORDABLE HOUSING AND SOCIALLY-BENEFICIAL COMMUNITY FACILITIES THAT PROMOTE SOCIAL, ECONOMIC AND PHYSICAL TRANSFORMATION OF UNDERSERVED COMMUNITIES.

  • TO FURTHER ITS MISSION AND INCREASE ITS CAPACITY TO PROVIDE SERVICES TO LOW-INCOME FAMILIES, THE ORGANIZATION GROUND LEASES A PORTION OF THAT CERTAIN TRACT OF LAND LOCATED AT 1060 EXPOSITION BLVD., LOS ANGELES, CA, WHICH IS IN A CENSUS TRACT THAT THE ORGANIZATION HAS FOUND TO BE CHARACTERIZED BY ECONOMIC DISTRESS AND INADEQUATE ACCESS TO CAPITAL. IN ORDER TO HAVE A CATALYTIC EFFECT ON ECONOMIC DEVELOPMENT WITHIN THE PROPERTY AREA AND SURROUNDING LOW-INCOME COMMUNITIES, THE PROPERTY HAS BEEN DEVELOPED FOR USE (I) AS A HEALTH CENTER, WHICH PROVIDES QUALITY AND ACCESSIBLE PATIENT-CENTERED COMPREHENSIVE HEALTH SERVICES FOR LOW-INCOME INDIVIDUALS AND FAMILIES AND (II) AS COMMUNITY-MINDED COMMERCIAL RETAIL SPACE TO PROVIDE VALUABLE RESOURCES FOR FAMILIES RESIDING NEAR THE PROPERTY.

    Expenses $517,408 · Revenue $200,872

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

Listed in Part VII

  • Ronne Thielen

    CHAIR

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Kenneth Krug

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Robin Hughes

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.2

  • Holly Benson

    PRESIDENT

    Total calculated
    $387,563
    From this org
    $0
    From related orgs
    $361,409
    Other
    $26,154
    Hours/week
    0.4 + 42.6 related

    Schedule J breakdown matched by us

    Base
    $0 + $361,409 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,205 related
    Nontaxable benefits
    $0 + $14,949 related
    Filer's total
    $0 + $387,563 related

  • Rick Saperstein

    TREASURER

    Total calculated
    $286,642
    From this org
    $0
    From related orgs
    $260,868
    Other
    $25,774
    Hours/week
    0.4 + 42.6 related

    Schedule J breakdown matched by us

    Base
    $0 + $260,868 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,799 related
    Nontaxable benefits
    $0 + $14,975 related
    Filer's total
    $0 + $286,642 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
ON AN ANNUAL BASIS, COMPENSATION RECOMMENDATIONS FOR THE PRESIDENT AND EXECUTIVE VICE PRESIDENTS ARE MADE TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF ABODE COMMUNITIES, A RELATED NONPROFIT ORGANIZATION, AND AS NECESSARY OR REQUESTED, COMPARABLE COMPENSATION DATA FROM A RELIABLE THIRD-PARTY SOURCE IS OBTAINED. MINUTES OF THE MEETING ARE KEPT, TO THE EXTENT ALLOWED FOR BY CONFIDENTIALITY.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349325627

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.