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Nonprofiteer
← PALM VILLAGE SENIOR HOUSING CORP

Form 990 for tax year 2024

Filed by PALM VILLAGE SENIOR HOUSING CORP.

Totals

Total revenue
$729,639
Total expenses
$1,058,156
Contributions and grants received
$425,808
Grants paid
$0
Program service revenue
$273,506
Investment income
$825
Other revenue
$29,500
Total assets, end of year
$7,187,716
Total liabilities, end of year
$13,419,739
Net assets or fund balances, end of year
-$6,232,023
Program services expenses (Part IX)
$874,292
Management and general expenses
$183,864
Fundraising expenses
$0
Program service expenses (Part III)
$874,292

Program services were 82.6% 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)

    $425,808

  • 2a · Program service revenue: RENTAL INCOME

    total $273,506 · related or exempt $273,506

  • 3 · Investment income

    total $825 · excluded $825

  • 11a · Other revenue: OTHER REVENUE-MISC.

    total $26,199 · excluded $26,199

  • 11b · Other revenue: LAUNDRY & VENDING

    total $1,662 · excluded $1,662

  • 11c · Other revenue: TENANT CHARGES

    total $1,636 · excluded $1,636

  • 11d · All other revenue

    total $3 · excluded $3

  • 11e · Other revenue, total

    $29,500

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $99,617 · program services $53,661 · management and general $45,956

  • 9 · Other employee benefits

    total $14,032 · program services $14,032

  • 10 · Payroll taxes

    total $7,135 · program services $7,135

  • 11a · Fees: management

    total $60,820 · management and general $60,820

  • 11c · Fees: accounting

    total $26,917 · management and general $26,917

  • 13 · Office expenses

    total $38,701 · management and general $38,701

  • 14 · Information technology

    total $10,656 · management and general $10,656

  • 16 · Occupancy

    total $384,191 · program services $384,191

  • 20 · Interest

    total $139,320 · program services $139,320

  • 22 · Depreciation, depletion and amortization

    total $253,041 · program services $253,041

  • 24a · Other expenses: TENANT SERVICES

    total $22,912 · program services $22,912

  • 24b · Other expenses: MISCELLANEOUS ADMIN

    total $814 · management and general $814

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,659 · end of year $70,302

  • 4 · Accounts receivable

    beginning of year $146,627 · end of year $3,744

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,038 · end of year $2,970

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

    $11,121,567

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

    $4,473,522

  • 10c · Land, buildings and equipment, net

    beginning of year $6,901,096 · end of year $6,648,045

  • 13 · Investments: program-related

    beginning of year $291,131 · end of year $438,965

  • 15 · Other assets

    beginning of year $23,281 · end of year $23,690

  • 17 · Accounts payable and accrued expenses

    beginning of year $105,741 · end of year $110,455

  • 19 · Deferred revenue

    beginning of year $24,440 · end of year $7,398

  • 23 · Secured mortgages and notes payable

    beginning of year $10,706,585 · end of year $10,706,585

  • 25 · Other liabilities

    beginning of year $2,455,572 · end of year $2,595,301

  • 27 · Net assets without donor restrictions

    beginning of year -$5,903,506 · end of year -$6,232,023

Mission and programs · 2024

Mission

TO PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS.

  • TO PROVIDE HOUSING FOR LOW-INCOME ELDERLY PERSONS.

    Expenses $874,292 · Revenue $273,506

As filed on the 2024 return.

Listed in Part VII

  • Erich Minoru Nakano

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.3

  • Wattana Kiatpiriya

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • San Pennson

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3

  • Jennifer Ing-Aram

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Wora Rapp

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Kelly Takasu

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Dae Joon Yoon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • David Howden

    BOARD MEMEBER

    Total calculated
    $0
    Hours/week
    0.3

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.

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
2024
Filed
19 February 2026
IRS schema version
2024v5.5
Source object
202610559349300236

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