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Nonprofiteer
← FOLSOM OAKS APARTMENTS INC

Form 990 for tax year 2022

Filed by FOLSOM OAKS APARTMENTS INC.

Totals

Total revenue
$232,289
Total expenses
$559,797
Contributions and grants received
$126,025
Grants paid
$0
Program service revenue
$101,220
Investment income
$5,044
Other revenue
$0
Total assets, end of year
$3,483,839
Total liabilities, end of year
$5,333,381
Net assets or fund balances, end of year
-$1,849,542
Program services expenses (Part IX)
$501,760
Management and general expenses
$58,037
Fundraising expenses
$0
Program service expenses (Part III)
$501,760

Program services were 89.6% 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)

    $126,025

  • 2a · Program service revenue: RENT

    total $101,220 · related or exempt $101,220

  • 3 · Investment income

    total $5,044 · excluded $5,044

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $52,809 · program services $52,809

  • 9 · Other employee benefits

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

  • 10 · Payroll taxes

    total $3,882 · program services $3,882

  • 11a · Fees: management

    total $15,331 · management and general $15,331

  • 11c · Fees: accounting

    total $28,439 · management and general $28,439

  • 11g · Fees: other

    total $6,091 · management and general $6,091

  • 13 · Office expenses

    total $14,337 · program services $8,956 · management and general $5,381

  • 16 · Occupancy

    total $120,784 · program services $120,784

  • 22 · Depreciation, depletion and amortization

    total $261,216 · program services $261,216

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $23,403 · program services $23,403

  • 24b · Other expenses: CONTRACTS

    total $10,751 · program services $10,751

  • 24c · Other expenses: MISC. EXPENSES

    total $2,795 · management and general $2,795

  • 24d · Other expenses: SECURITY

    total $870 · program services $870

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $100 · end of year $100

  • 2 · Savings and temporary cash investments

    beginning of year $430,920 · end of year $418,128

  • 4 · Accounts receivable

    beginning of year $48,272 · end of year $18,688

  • 9 · Prepaid expenses and deferred charges

    beginning of year $835

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

    $5,676,395

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

    $2,629,472

  • 10c · Land, buildings and equipment, net

    beginning of year $3,256,676 · end of year $3,046,923

  • 17 · Accounts payable and accrued expenses

    beginning of year $786,153 · end of year $859,750

  • 23 · Secured mortgages and notes payable

    beginning of year $4,314,964 · end of year $4,366,427

  • 25 · Other liabilities

    beginning of year $157,720 · end of year $107,204

  • 27 · Net assets without donor restrictions

    beginning of year -$3,494,272 · end of year -$3,770,317

  • 28 · Net assets with donor restrictions

    beginning of year $1,972,238 · end of year $1,920,775

Mission and programs · 2022

Mission

TO PROVIDE AFFORDABLE HOUSING IN FOLSOM FOR PEOPLE WITH SPECIAL NEEDS.

  • THE FOLSOM OAKS APARTMENTS PROVIDE AFFORDABLE HOUSING WITH SUPPORTS FOR LOW-INCOME HOUSEHOLDS IN WHICH AT LEAST ONE ADULT HOUSEHOLD MEMBER HAS A QUALIFYING DISABILITY. THE COMPLEX INCLUDES EIGHTEEN (18) ONE, TWO, AND THREE BEDROOM RENTAL UNITS, AN ADDITIONAL MANAGER'S UNIT, A TOT LOT, PICNIC AREA, AND A COMMUNITY ROOM WITH OFFICES FOR ASSIGNED STAFF.

    Expenses $501,760 · Revenue $101,220

As filed on the 2022 return.

Listed in Part VII

  • Lizbeth West

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Michael Korpiel

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Tim Parker

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Bobbie Hales

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Virgil Pacheco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Erin Johansen

    CEO

    Total calculated
    $213,458
    From this org
    $0
    From related orgs
    $207,223
    Other
    $6,235
    Hours/week
    4 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,223 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $6,235 related
    Filer's total
    $0 + $213,458 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.

  • TLCS INC

    501(C)(3) · CASE MGMT AND HOUSING SVCS FOR INDIVIDUALS WITH PSYCHIATRIC DISABILITIES · CA

Provenance

Return type
form_990
Tax year
2022
Filed
1 April 2024
IRS schema version
2022v5.0
Source object
202430929349301118

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