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Nonprofiteer
← RINCON DE LOS ESTEROS INC

Form 990 for tax year 2022

Filed by RINCON DE LOS ESTEROS INC.

Totals

Total revenue
$4,686,516
Total expenses
$5,065,571
Contributions and grants received
$207,728
Grants paid
$0
Program service revenue
$4,881,245
Investment income
$2,972
Other revenue
-$405,429
Total assets, end of year
$16,687,590
Total liabilities, end of year
$32,614,664
Net assets or fund balances, end of year
-$15,927,074
Program services expenses (Part IX)
$4,158,169
Management and general expenses
$907,402
Fundraising expenses
$0
Program service expenses (Part III)
$4,158,169

Program services were 82.1% 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.

  • 1e · Government grants (contributions)

    $207,728

  • 2a · Program service revenue: RENTAL INCOME

    total $4,796,849 · related or exempt $4,796,849

  • 2b · Program service revenue: LAUDRY AND OTHER TENAN

    total $81,731 · related or exempt $81,731

  • 2c · Program service revenue: PARTNERSHIP MGMT FEE

    total $2,000 · related or exempt $2,000

  • 2d · Program service revenue: SUSTAINABILITY PROJECT

    total $665 · related or exempt $665

  • 3 · Investment income

    total $2,972 · excluded $2,972

  • 11a · Other revenue: LOSS ON INVESTMENT

    total -$405,429 · related or exempt -$405,429

  • 11e · Other revenue, total

    -$405,429

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $490,769 · program services $490,769

  • 8 · Pension plan contributions

    total $7,260 · program services $7,260

  • 9 · Other employee benefits

    total $92,310 · program services $92,310

  • 10 · Payroll taxes

    total $40,815 · program services $40,815

  • 11a · Fees: management

    total $856,483 · management and general $856,483

  • 11b · Fees: legal

    total $899 · management and general $899

  • 11c · Fees: accounting

    total $47,154 · management and general $47,154

  • 11g · Fees: other

    total $139,241 · program services $139,241

  • 12 · Advertising and promotion

    total $14,575 · program services $14,575

  • 13 · Office expenses

    total $69,460 · program services $69,422 · management and general $38

  • 14 · Information technology

    total $11,411 · program services $11,411

  • 16 · Occupancy

    total $887,758 · program services $887,758

  • 17 · Travel

    total $1,639 · program services $1,639

  • 19 · Conferences, conventions and meetings

    total $2,828 · management and general $2,828

  • 20 · Interest

    total $1,132,997 · program services $1,132,997

  • 22 · Depreciation, depletion and amortization

    total $766,485 · program services $766,485

  • 23 · Insurance

    total $1,017 · program services $1,017

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $472,295 · program services $472,295

  • 24b · Other expenses: ADMINISTRATOR'S UNIT

    total $23,975 · program services $23,975

  • 24c · Other expenses: UNIFORM AND LAUNDRY

    total $6,200 · program services $6,200

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $815,602 · end of year $515,974

  • 2 · Savings and temporary cash investments

    beginning of year $548,012 · end of year $453,260

  • 4 · Accounts receivable

    beginning of year $128,118 · end of year $61,284

  • 9 · Prepaid expenses and deferred charges

    beginning of year $186,939 · end of year $207,561

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

    $25,658,988

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

    $7,361,529

  • 10c · Land, buildings and equipment, net

    beginning of year $18,866,619 · end of year $18,297,459

  • 13 · Investments: program-related

    beginning of year -$5,800,729 · end of year -$6,206,158

  • 15 · Other assets

    beginning of year $2,769,330 · end of year $3,358,210

  • 17 · Accounts payable and accrued expenses

    beginning of year $179,171 · end of year $136,916

  • 19 · Deferred revenue

    beginning of year $29,115 · end of year $18,664

  • 23 · Secured mortgages and notes payable

    beginning of year $31,476,878 · end of year $31,191,184

  • 25 · Other liabilities

    beginning of year $1,376,746 · end of year $1,267,900

  • 27 · Net assets without donor restrictions

    beginning of year -$15,548,019 · end of year -$15,927,074

Mission and programs · 2022

Mission

THE CORPORATION IS ORGANIZED TO PROVIDE HOUSING FOR LOW INCOME PERSONS AND TO SERVE AS A GENERAL PARTNER IN LIMITED PARTNERSHIPS WHICH OWN AND OPERATE HOUSING FOR THE BENEFIT OF LOW INCOME PERSONS.

Activities or mission (Part I)

PROVIDES HOUSING FOR LOW INCOME PERSONS AND FAMILIES AND OWNS AND OPERATES APARTMENT COMPLEXES.

  • THE ORGANIZATION OWNS, MAINTAINS, AND MANAGES A 246 UNIT MULTI-FAMILY APARTMENT COMPLEX IN SAN JOSE. 803 PEOPLE WERE SERVED DURING THE YEAR.

    Expenses $4,156,169 · Revenue $4,473,816

  • THE ORGANIZATION SERVES AS GENERAL PARTNER OF TWO LIMITED PARTNERSHIPS AND PROVIDES MANAGEMENT SERVICES TO BOTH PARTNERSHIPS. EACH PARTNERSHIP OWNS AND OPERATES MULTI-FAMILY APARTMENT BUILDINGS FOR A TOTAL OF 87 UNITS IN SAN JOSE AND SUNNYVALE. 209 PEOPLE WERE SERVED DURING THE YEAR.

    Expenses $2,000 · Revenue $2,000

As filed on the 2022 return.

Listed in Part VII

  • Gary Schoennauer

    CHAIRMAN OF THE BOD

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Richard L Conniff

    VP/TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Matthew James

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Dunia Noel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Jaime Angulo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Gerry Deyoung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Robert Sherrard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Kermit Conley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Ru Weerakoon

    VP/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Josh Cross

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Jeff Gee

    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

    Total calculated
    $350,295
    From this org
    $0
    From related orgs
    $308,570
    Other
    $41,725
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,570 related
    Bonus
    $0 + $40,000 related
    Other
    $0
    Deferred
    $0 + $9,257 related
    Nontaxable benefits
    $0 + $32,468 related
    Filer's total
    $0 + $350,295 related

  • David Munson

    DIRECTOR OF FINANCE OF FCH

    Total calculated
    $233,042
    From this org
    $0
    From related orgs
    $181,043
    Other
    $51,999
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,043 related
    Bonus
    $0 + $1,000 related
    Other
    $0
    Deferred
    $0 + $5,431 related
    Nontaxable benefits
    $0 + $46,568 related
    Filer's total
    $0 + $233,042 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
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'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

  • FIRST HOUSING SERVICES INC

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

    Directly controlled by FIRST COMMUNITY HOUSING

  • EL PASEO APARTMENTS INC

    501(C)(3) · GENERAL PARTNER FOR AFFORDABLE HOUSING AND OWNER OF AFFORDABLE RENTAL COMPLE · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • GUADALUPE INC

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

    Directly controlled by FIRST COMMUNITY HOUSING

  • TROY APARTMENTS INC

    501(C)(3) · OWNER OF AFFORDABLE HOUSING APARTMENT BUILDING · CA

    Directly controlled by FIRST COMMUNITY HOUSING

  • PAULA APARTMENTS INC

    501(C)(3) · OWNER OF AFFORDABLE HOUSING APARTMENT BUILDING · 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

  • BETTY ANNE GARDENS INC

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

    Directly controlled by FIRST COMMUNITY HOUSING

  • FIRST COMMUNITY LAND

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

  • PARKVIEW APARTMENTS ASSOCIATES

    RELATED · OWNER OF AFFORDABLE HOUSING APARTMENT BUILDING · CA · 0.1% owned · share of income $46 · share of assets $261,501 · general or managing partner

    Directly controlled by RINCON DE LOS ESTEROS INC

  • KING ROAD ASSOCIATES

    RELATED · OWNER OF AFFORDABLE HOUSING APARTMENT BUILDING · CA · 0.1% owned · share of income -$27 · share of assets $131,048 · general or managing partner

    Directly controlled by RINCON DE LOS ESTEROS INC

  • 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

  • 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

  • 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
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202343139349301449

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