Form 990 for tax year 2023
Filed by MERRITT COMMUNITY CAPITAL CORP.
Totals
- Total revenue
- $7,447,840
- Total expenses
- $5,946,265
- Contributions and grants received
- $0
- Grants paid
- $936,407
- Program service revenue
- $7,237,856
- Investment income
- $209,984
- Other revenue
- $0
- Total assets, end of year
- $41,740,384
- Total liabilities, end of year
- $12,472,878
- Net assets or fund balances, end of year
- $29,267,506
- Program services expenses (Part IX)
- $4,814,276
- Management and general expenses
- $1,131,989
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $4,814,276
Program services were 81.0% 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: PARTNERSHIP FEES
total $6,272,734 · related or exempt $6,272,734
-
2b · Program service revenue: MANAGEMENT FEES
total $961,746 · related or exempt $961,746
-
2c · Program service revenue: OTHER INCOME
total $3,376 · related or exempt $3,376
-
3 · Investment income
total $209,984 · related or exempt $209,984
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $936,407 · program services $936,407
-
7 · Other salaries and wages
total $2,611,587 · program services $2,310,719 · management and general $300,868
-
9 · Other employee benefits
total $367,900 · program services $325,516 · management and general $42,384
-
10 · Payroll taxes
total $149,452 · program services $132,234 · management and general $17,218
-
11b · Fees: legal
total $121,444 · program services $118,074 · management and general $3,370
-
11c · Fees: accounting
total $362,759 · program services $303,329 · management and general $59,430
-
11d · Fees: lobbying
total $255,000 · management and general $255,000
-
11g · Fees: other
total $277,851 · program services $176,156 · management and general $101,695
-
12 · Advertising and promotion
total $79,415 · management and general $79,415
-
13 · Office expenses
total $140,285 · program services $113,135 · management and general $27,150
-
16 · Occupancy
total $350,916 · program services $180,756 · management and general $170,160
-
17 · Travel
total $170,303 · program services $150,684 · management and general $19,619
-
19 · Conferences, conventions and meetings
total $34,234 · program services $30,290 · management and general $3,944
-
23 · Insurance
total $35,514 · management and general $35,514
-
24a · Other expenses: MISCELLANEOUS
total $36,607 · program services $29,532 · management and general $7,075
-
24b · Other expenses: EMPLOYEE EXPENSES
total $16,591 · program services $7,444 · management and general $9,147
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,732,451 · end of year $6,606,877
-
4 · Accounts receivable
beginning of year $542,143 · end of year $660,889
-
7 · Other notes and loans receivable
beginning of year $24,460,540 · end of year $34,454,365
-
9 · Prepaid expenses and deferred charges
beginning of year $5,000 · end of year $5,000
-
10a · Land, buildings and equipment: cost or other basis
$158,589
-
10b · Land, buildings and equipment: accumulated depreciation
$158,589
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $8,035 · end of year $13,253
-
17 · Accounts payable and accrued expenses
beginning of year $1,385 · end of year $0
-
25 · Other liabilities
beginning of year $3,980,853 · end of year $12,472,878
-
27 · Net assets without donor restrictions
beginning of year $27,765,931 · end of year $29,267,506
Mission and programs · 2023
Mission
TO PROVIDE AFFORDABLE HOUSING FOR LOW INCOME PERSONS.
Activities or mission (Part I)
TO SUPPORT AND RAISE CAPITAL FOR THE DEVELOPMENT OF LOW TO MODERATE-INCOME HOUSING IN THE STATE OF CALIFORNIA.
-
THE CORPORATION WAS FORMED TO ACT AS THE GENERAL PARTNER IN PARTNERSHIPS WHICH HAVE INVESTED IN LOCAL PARTNERSHIPS, WHICH BUILD OR REHABILITATE UNITS OF AFFORDABLE HOUSING UNDER THE PROVISIONS OF IRS SEC. 42. THE CORPORATION PROVIDES SUPPORTING SERVICES TO THESE PARTNERSHIPS ON AN ONGOING BASIS.
Expenses $4,814,276 · Grants $936,407 · Revenue $7,447,840
As filed on the 2023 return.
Listed in Part VII
-
Cecile ChalifourCECILE CHALIFOUR
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Robert WilliamsROBERT WILLIAMS
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Gina LeonGINA LEON
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Welton JordanWELTON JORDAN
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Chione FlegalCHIONE FLEGAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Dora Leong GalloDORA LEONG GALLO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Steve HermanSTEVE HERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Ray MendozaRAY MENDOZA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Gisela SalgadoGISELA SALGADO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Steve SpearsSTEVE SPEARS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Karen TiedemannKAREN TIEDEMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Darnell WilliamsDARNELL WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Regina Celestin WilliamsREGINA CELESTIN WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Ari BeliakARI BELIAK
PRESIDENT & CEO
- Total calculated
- $467,523
- From this org
- $420,385
- From related orgs
- $0
- Other
- $47,138
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $305,000
- Bonus
- $115,385
- Other
- $0
- Deferred
- $23,100
- Nontaxable benefits
- $24,038
- Filer's total
- $467,523
-
Paul CarneyPAUL CARNEY
CFO/COO
- Total calculated
- $338,193
- From this org
- $312,000
- From related orgs
- $0
- Other
- $26,193
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $230,000
- Bonus
- $82,000
- Other
- $0
- Deferred
- $21,859
- Nontaxable benefits
- $4,334
- Filer's total
- $338,193
-
David DologiteDAVID DOLOGITE
DIRECTOR OF ACQUISITIONS
- Total calculated
- $345,245
- From this org
- $320,500
- From related orgs
- $0
- Other
- $24,745
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $218,000
- Bonus
- $102,500
- Other
- $0
- Deferred
- $22,463
- Nontaxable benefits
- $2,282
- Filer's total
- $345,245
-
Julie QuinnJULIE QUINN
DIRECTOR OF INVESTOR RELATIONS
- Total calculated
- $373,410
- From this org
- $335,721
- From related orgs
- $0
- Other
- $37,689
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $195,021
- Bonus
- $140,700
- Other
- $0
- Deferred
- $23,100
- Nontaxable benefits
- $14,589
- Filer's total
- $373,410
-
Izaac SinghIZAAC SINGH
DIRECTOR OF ASSET MGT
- Total calculated
- $271,613
- From this org
- $249,000
- From related orgs
- $0
- Other
- $22,613
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $185,000
- Bonus
- $64,000
- Other
- $0
- Deferred
- $17,442
- Nontaxable benefits
- $5,171
- Filer's total
- $271,613
-
Nedrah BarnesNEDRAH BARNES
DIRECTOR OF FUND MANAGEMENT
- Total calculated
- $286,374
- From this org
- $260,000
- From related orgs
- $0
- Other
- $26,374
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $191,000
- Bonus
- $69,000
- Other
- $0
- Deferred
- $18,212
- Nontaxable benefits
- $8,162
- Filer's total
- $286,374
-
Carla Vasquez-NoriegaCARLA VASQUEZ-NORIEGA
DIRECTOR OF INVESTOR RELATIONS
- Total calculated
- $134,770
- From this org
- $119,708
- From related orgs
- $0
- Other
- $15,062
- Hours/week
- 40 + 40 related
-
Amanda HopkinsAMANDA HOPKINS
SENIOR ASSET MANAGER
- Total calculated
- $161,498
- From this org
- $129,500
- From related orgs
- $0
- Other
- $31,998
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $125,000
- Bonus
- $4,500
- Other
- $0
- Deferred
- $9,076
- Nontaxable benefits
- $22,922
- Filer's total
- $161,498
-
David EisenmanDAVID EISENMAN
SENIOR ACQUISITION MANAGER
- Total calculated
- $229,042
- From this org
- $207,250
- From related orgs
- $0
- Other
- $21,792
- Hours/week
- 40 + 40 related
Schedule J breakdown matched by us
- Base
- $160,000
- Bonus
- $47,250
- Other
- $0
- Deferred
- $14,518
- Nontaxable benefits
- $7,274
- Filer's total
- $229,042
-
Maria DuarteMARIA DUARTE
SENIOR ASSET MANAGER
- Total calculated
- $132,844
- From this org
- $122,426
- From related orgs
- $0
- Other
- $10,418
- Hours/week
- 40 + 40 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
- 3 · Approval by the board or compensation committee
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
-
$250,000
HDTI PROGRAM IMPLEMENTATION
-
AFFORDABLE HOUSING EDUCATION
-
INVESTING IN AFFORDABLE HOUSING
-
$57,563
SCHOLARSHIPS
-
$40,000
AFFORDABLE HOUSING EDUCATION
-
RURAL FELLOWSHIP FUNDING
-
AFFORDABLE HOUSING DEVELOPMENT
-
AFFORDABLE HOUSING EDUCATION & DEVELOPMENT
-
SCHOLARSHIPS
-
$25,000
AFFORDABLE HOUSING EDUCATION
The 10 largest by cash amount. The API serves every itemized grant.
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
MCC FUND MANAGER LLC
PROVIDE LOW INCOME HOUSING · CA
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MCC HOUSING LLC
PROVIDE LOW INCOME HOUSING · CA
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MCC PROP FUND MANAGER 2 LLC
PROVIDE LOW INCOME HOUSING · CA
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MCC PROP FUND MANAGER LLC
PROVIDE LOW INCOME HOUSING · CA
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MCC PROP FUND MANAGER 3 LLC
PROVIDE LOW INCOME HOUSING · CA
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MCC FUND MANAGER 2 LLC
PROVIDE LOW INCOME HOUSING · CA
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MCC FUND MANAGER 3 LLC
PROVIDE LOW INCOME HOUSING · CA
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
MERRITT COMMUNITY CAPITAL FUND IX LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.1% owned · share of assets $13 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND X-LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$68 · share of assets $3 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XI LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$223 · share of assets $1 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XII LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income $10 · share of assets $9 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XIII LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$235 · share of assets $3 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XIV LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$373 · share of assets $8 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XV LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$79 · share of assets $39 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XVI LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$295 · share of assets $20 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XVII LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$302 · share of assets $14 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XVIII LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$368 · share of assets $28 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XIX LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$270 · share of assets $39 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XX LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$272 · share of assets $18 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XXI LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$7 · share of assets $56 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND XXII LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.1% owned · share of income -$18,918 · share of assets $1,114 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND 23 LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$10 · share of assets $155 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT SVB FUND 1 LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of assets $28 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT WESTERN ALLIANCE FUND 1 LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$2 · share of assets $15 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT EW FUND 1 LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$2 · share of assets $16 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
-
MERRITT COMMUNITY CAPITAL FUND 24 LP
RELATED · PROVIDE LOW INCOME HOUSING · CA · 0.01% owned · share of income -$1 · general or managing partner
Directly controlled by MERRITT COMMUNITY CAPITAL CORP
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413199349300026
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