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← CENTURY AFFORDABLE DEVELOPMENT INC

Form 990 for tax year 2024

Filed by CENTURY AFFORDABLE DEVELOPMENT INC.

Totals

Total revenue
$12,444,945
Total expenses
$3,856,545
Contributions and grants received
$500,000
Grants paid
$0
Program service revenue
$9,356,126
Investment income
$2,588,819
Other revenue
$0
Total assets, end of year
$84,438,131
Total liabilities, end of year
$17,944,717
Net assets or fund balances, end of year
$66,493,414
Program services expenses (Part IX)
$3,607,270
Management and general expenses
$249,275
Fundraising expenses
$0
Program service expenses (Part III)
$3,607,270

Program services were 93.5% 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.

  • 1f · All other contributions, gifts and grants

    $500,000

  • 2a · Program service revenue: DEVELOPER FEE INCOME

    total $9,163,202 · related or exempt $9,163,202

  • 2b · Program service revenue: OTHER INCOME

    total $84,821 · related or exempt $84,821

  • 2c · Program service revenue: MANAGEMENT FEE

    total $74,340 · related or exempt $74,340

  • 2d · Program service revenue: GROSS POTENTIAL RENT -

    total $33,763 · related or exempt $33,763

  • 3 · Investment income

    total $935,750 · excluded $935,750

  • 7a · Gross sales of assets other than inventory

    securities $2,000,000

  • 7b · Less cost or other basis and sales expenses

    securities $346,931

  • 7c · Gain or loss

    securities $1,653,069

  • 7d · Net gain or loss

    total $1,653,069 · related or exempt $1,653,069

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,426,680 · program services $2,426,680

  • 9 · Other employee benefits

    total $794,947 · program services $794,947

  • 11b · Fees: legal

    total $261 · program services $261

  • 11c · Fees: accounting

    total $37,250 · management and general $37,250

  • 11g · Fees: other

    total $11,089 · program services $11,089

  • 12 · Advertising and promotion

    total $3,601 · program services $3,601

  • 13 · Office expenses

    total $212,025 · management and general $212,025

  • 17 · Travel

    total $13,213 · program services $13,213

  • 20 · Interest

    total $176,927 · program services $176,927

  • 22 · Depreciation, depletion and amortization

    total $12,567 · program services $12,567

  • 23 · Insurance

    total $81,850 · program services $81,850

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $42,021 · program services $42,021

  • 24b · Other expenses: TELECOMMUNICATIONS

    total $17,188 · program services $17,188

  • 24c · Other expenses: TAXES

    total $15,924 · program services $15,924

  • 24d · Other expenses: UTILITIES

    total $4,953 · program services $4,953

  • 24e · All other expenses

    total $6,049 · program services $6,049

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $30,040 · end of year $80,762

  • 2 · Savings and temporary cash investments

    beginning of year $7,554,413 · end of year $8,151,714

  • 4 · Accounts receivable

    beginning of year $3,087,521 · end of year $662,204

  • 7 · Other notes and loans receivable

    beginning of year $34,234,086 · end of year $42,272,832

  • 9 · Prepaid expenses and deferred charges

    beginning of year $147,469 · end of year $1,853,237

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

    $1,713,013

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

    $35,521

  • 10c · Land, buildings and equipment, net

    beginning of year $2,025,434 · end of year $1,677,492

  • 13 · Investments: program-related

    beginning of year $5,636,000 · end of year $5,302,678

  • 15 · Other assets

    beginning of year $17,678,685 · end of year $24,437,212

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,406,998 · end of year $2,254,755

  • 23 · Secured mortgages and notes payable

    beginning of year $4,586,000 · end of year $7,003,000

  • 25 · Other liabilities

    beginning of year $6,495,636 · end of year $8,686,962

  • 27 · Net assets without donor restrictions

    beginning of year $48,301,264 · end of year $56,889,664

  • 28 · Net assets with donor restrictions

    beginning of year $9,603,750 · end of year $9,603,750

Mission and programs · 2024

Mission

TO ACQUIRE AND DEVELOP REAL PROPERTY AS AFFORDABLE HOUSING.

  • THE ORGANIZATION ACQUIRED AND SOLD PROPERTIES TO MAINTAIN AFFORDABLE HOUSING

    Expenses $3,607,270 · Revenue $11,009,195

As filed on the 2024 return.

Listed in Part VII

  • Carrie Hawkins

    DIRECTOR

    Total calculated
    $17,600
    From this org
    $0
    From related orgs
    $17,243
    Other
    $357
    Hours/week
    1

  • Darroch F Young

    DIRECTOR

    Total calculated
    $17,600
    From this org
    $0
    From related orgs
    $17,600
    Other
    $0
    Hours/week
    1

  • Louise Oliver

    DIRECTOR

    Total calculated
    $17,601
    From this org
    $0
    From related orgs
    $17,243
    Other
    $358
    Hours/week
    1

  • Kristina Olson

    CHAIR, DIRECTOR

    Total calculated
    $17,600
    From this org
    $0
    From related orgs
    $17,600
    Other
    $0
    Hours/week
    1

  • Steven R Lewis

    VICE CHAIR, DIRECTOR

    Total calculated
    $17,600
    From this org
    $0
    From related orgs
    $17,600
    Other
    $0
    Hours/week
    1

  • Christopher Cameron

    DIRECTOR

    Total calculated
    $17,600
    From this org
    $0
    From related orgs
    $17,600
    Other
    $0
    Hours/week
    1

  • Gregory Robinson

    SECRETARY, DIRECTOR

    Total calculated
    $17,600
    From this org
    $0
    From related orgs
    $17,600
    Other
    $0
    Hours/week
    1

  • John Chiang

    DIRECTOR

    Total calculated
    $13,200
    From this org
    $0
    From related orgs
    $13,200
    Other
    $0
    Hours/week
    1

  • Yvonne Burke

    DIRECTOR

    Total calculated
    $17,600
    From this org
    $0
    From related orgs
    $17,600
    Other
    $0
    Hours/week
    1

  • Daniel Lopez

    DIRECTOR

    Total calculated
    $9,565
    From this org
    $0
    From related orgs
    $9,208
    Other
    $357
    Hours/week
    1

  • Ronald Griffith

    PRESIDENT & CEO

    Total calculated
    $627,403
    From this org
    $0
    From related orgs
    $567,477
    Other
    $59,926
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $281,590 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $185,887 related
    Deferred
    $0 + $31,172 related
    Nontaxable benefits
    $0 + $28,754 related
    Filer's total
    $0 + $627,403 related

  • Alan R Hoffman

    SENIOR VP AND CFO

    Total calculated
    $547,965
    From this org
    $0
    From related orgs
    $480,782
    Other
    $67,183
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $357,073 related
    Bonus
    $0 + $89,698 related
    Other
    $0 + $34,011 related
    Deferred
    $0 + $27,927 related
    Nontaxable benefits
    $0 + $39,256 related
    Filer's total
    $0 + $547,965 related

  • Beulah Ku

    ASSISTANT SECRETARY

    Total calculated
    $228,482
    From this org
    $0
    From related orgs
    $205,566
    Other
    $22,916
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $162,530 related
    Bonus
    $0 + $31,935 related
    Other
    $0 + $11,101 related
    Deferred
    $0 + $15,852 related
    Nontaxable benefits
    $0 + $7,064 related
    Filer's total
    $0 + $228,482 related

  • Daniel Lopez

    ACTING PRESIDENT AND CEO

    Total calculated
    $141,758
    From this org
    $0
    From related orgs
    $135,335
    Other
    $6,423
    Hours/week
    10.5 + 19 related

  • Brian Nicholas Dandrea

    SENIOR VICE PRESIDENT

    Total calculated
    $492,782
    From this org
    $0
    From related orgs
    $424,860
    Other
    $67,922
    Hours/week
    17.5 + 22.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $327,536 related
    Bonus
    $0 + $80,444 related
    Other
    $0 + $16,880 related
    Deferred
    $0 + $29,972 related
    Nontaxable benefits
    $0 + $37,950 related
    Filer's total
    $0 + $492,782 related

  • Fern Hendrickson

    VICE PRESIDENT, HUMAN RESOURCES

    Total calculated
    $305,150
    From this org
    $0
    From related orgs
    $247,107
    Other
    $58,043
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $203,528 related
    Bonus
    $0 + $39,990 related
    Other
    $0 + $3,589 related
    Deferred
    $0 + $18,928 related
    Nontaxable benefits
    $0 + $39,115 related
    Filer's total
    $0 + $305,150 related

  • Oscar Alvarado

    VICE PRESIDENT

    Total calculated
    $410,535
    From this org
    $0
    From related orgs
    $351,305
    Other
    $59,230
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $279,665 related
    Bonus
    $0 + $53,650 related
    Other
    $0 + $17,990 related
    Deferred
    $0 + $27,774 related
    Nontaxable benefits
    $0 + $31,456 related
    Filer's total
    $0 + $410,535 related

  • Howard Chan

    VICE PRESIDENT

    Total calculated
    $323,456
    From this org
    $0
    From related orgs
    $269,088
    Other
    $54,368
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,597 related
    Bonus
    $0 + $41,682 related
    Other
    $0 + $8,809 related
    Deferred
    $0 + $21,484 related
    Nontaxable benefits
    $0 + $32,884 related
    Filer's total
    $0 + $323,456 related

  • Heather Sharp

    VICE PRESIDENT, PROPERTY OPERATIONS

    Total calculated
    $248,032
    From this org
    $0
    From related orgs
    $223,521
    Other
    $24,511
    Hours/week
    17.5 + 32.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,633 related
    Bonus
    $0 + $25,501 related
    Other
    $0 + $5,387 related
    Deferred
    $0 + $17,832 related
    Nontaxable benefits
    $0 + $6,679 related
    Filer's total
    $0 + $248,032 related

  • Paige A O'Donnell

    ASSOCIATE DIRECTOR

    Total calculated
    $268,376
    From this org
    $0
    From related orgs
    $235,620
    Other
    $32,756
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $204,792 related
    Bonus
    $0 + $30,678 related
    Other
    $0 + $150 related
    Deferred
    $0 + $16,426 related
    Nontaxable benefits
    $0 + $16,330 related
    Filer's total
    $0 + $268,376 related

  • Jordan M Johnson

    SENIOR DEVELOPMENT MANAGER

    Total calculated
    $227,529
    From this org
    $0
    From related orgs
    $198,982
    Other
    $28,547
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $173,285 related
    Bonus
    $0 + $25,536 related
    Other
    $0 + $161 related
    Deferred
    $0 + $15,906 related
    Nontaxable benefits
    $0 + $12,641 related
    Filer's total
    $0 + $227,529 related

  • Christoper L Pope

    ASSOCIATE DIRECTOR

    Total calculated
    $203,695
    From this org
    $0
    From related orgs
    $188,618
    Other
    $15,077
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $156,562 related
    Bonus
    $0 + $30,178 related
    Other
    $0 + $1,878 related
    Deferred
    $0 + $5,655 related
    Nontaxable benefits
    $0 + $9,422 related
    Filer's total
    $0 + $203,695 related

  • Alexandros B Stamas

    SENIOR DEVELOPMENT MANAGER

    Total calculated
    $195,206
    From this org
    $0
    From related orgs
    $170,937
    Other
    $24,269
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $144,042 related
    Bonus
    $0 + $19,845 related
    Other
    $0 + $7,050 related
    Deferred
    $0 + $13,667 related
    Nontaxable benefits
    $0 + $10,602 related
    Filer's total
    $0 + $195,206 related

  • Kyle Fecik

    DEVELOPMENT ASSOCIATE

    Total calculated
    $164,967
    From this org
    $0
    From related orgs
    $143,157
    Other
    $21,810
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $108,722 related
    Bonus
    $0 + $17,024 related
    Other
    $0 + $17,411 related
    Deferred
    $0 + $11,448 related
    Nontaxable benefits
    $0 + $10,362 related
    Filer's total
    $0 + $164,967 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 · Compensation survey or study
  • 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

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.

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.

  • CADI VI LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY ARROWHEAD VISTA, LP · CA · income -$2 · assets $59,926

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI VII LLC

    TO ACT AS THE GENERAL PARTNER OF FLORENCE MOREHOUSE, L.P. · CA · income -$110 · assets $9,286,226

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI VIII LLC

    TO ACT AS THE GENERAL PARTNER OF BEACON PLACE, L.P. · CA · income -$86 · assets $777,887

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI IX LLC

    TO ACT AS THE GENERAL PARTNER OF BEACON POINTE, L.P. · CA · income -$165 · assets $12,396,394

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI X LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY BEACHWOOD APARTMENTS, L.P. · CA · income -$55 · assets $4,072,328

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI ELEVEN LLC

    TO ACT AS THE GENERAL PARTNER OF CASA RITA, L.P. · CA · income -$83 · assets $8,077,182

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XII LLC

    TO ACT AS THE GENERAL PARTNER OF WOODBRIDGE APARTMENTS, L.P. · CA · income -$79 · assets $1,624,623

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XIII LLC

    TO ACT AS THE GENERAL PARTNER OF BANNING, LP · CA · income -$109 · assets $4,702,430

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XIV LLC

    TO ACT AS THE GENERAL PARTNER OF CITYVIEW, LP · CA · income -$137,297 · assets $16,516,615

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XV LLC

    LOW INCOME HOUSING · CA · income $1,594,212 · assets $13,670,908

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CENTURY WLAVA 1 LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY WLAVA 1, LP · CA · income $0 · assets $6,516,528

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CENTURY WLAVA 2 LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY WLAVA 2, LP · CA · income $1 · assets $5,329,706

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CENTURY MOONSTONE LLC

    LOW INCOME HOUSING · CA · income $283,653 · assets $10,206,015

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 12010 SOUTH VERMONT LLC

    RELATED · TO OWN AND MANAGE AN AFFORDABLE APARTMENT COMMUNITY LOCATED IN LOS ANGELES · CA · 99% owned · share of income -$286,592 · share of assets $2,580,620

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • ACADEMY HALL LP

    TO ACQUIRE AND REHABILITATE THE ACADEMY HALL APARTMENTS · CA

  • ANCHOR PLACE LP

    TO OWN AND MANAGE AN AFFORDABLE APARTMENT COMMUNITY LOCATED IN LONG BEACH · CA

  • BEACON PLACE LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · 0.01% owned · share of income -$86 · share of assets $967,712 · general or managing partner

    Directly controlled by CADI VIII LLC

  • BEACON POINTE LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · 0.01% owned · share of income -$165 · share of assets $12,265,041 · general or managing partner

    Directly controlled by CADI IX LLC

  • CABRILLO GATEWAY LP

    TO DEVELOP 80 APARTMENTS (PHASE IV) AT THE LONG BEACH CAMPUS · CA

  • CASA DE CABRILLO LP

    TO DEVELOP A PORTION OF PROPERTY LOCATED IN LONG BEACH, CALIFORNIA · CA

  • CASA RITA LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · share of income -$83 · share of assets $8,080,274 · general or managing partner

    Directly controlled by CADI ELEVEN LLC

  • CENTURY ARROWHEAD VISTA LP

    RELATED · TO OWN A 40 UNIT APARTMENT COMPLEX LOCATED IN SAN BERNARDINO, CALIFORNIA · CA · 0.01% owned · share of income -$2 · share of assets $80,961 · general or managing partner

    Directly controlled by CADI VI LLC

  • CENTURY BEACHWOOD APARTMENTS 2 LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · 0.01% owned · share of income -$55 · share of assets $3,836,790 · general or managing partner

    Directly controlled by CADI X LLC

  • FLORENCE MOREHOUSE LP

    RELATED · TO DEVELOP A PORTION OF PROPERTY LOCATED IN LOS ANGELES, CALIFORNIA · CA · 0.01% owned · share of income -$110 · share of assets $8,937,197 · general or managing partner

    Directly controlled by CADI VII LLC

  • LONG BEACH SAVANNAH HOUSING LP

    TO DEVELOP A PORTION OF PROPERTY LOCATED IN LONG BEACH, CALIFORNIA · CA

  • OSP HARBOR CONNECTION LLC

    TO OWN AND MANAGE AN AFFORDABLE APARTMENT COMMUNITY LOCATED IN SAN PEDRO · CA

  • THE FAMILY COMMONS AT CABRILLO LP

    TO DEVELOP A PORTION OF PROPERTY LOCATED IN LONG BEACH, CALIFORNIA · CA

  • WEST LA VETERANS COLLECTIVE LLC

    CREATING A SUPPORTIVE HOUSING COMMUNITY FOR HOMELESS AND VETERANS IN WEST LA · CA

  • WOODBRIDGE APARTMENTS LP

    RELATED · TO ACQUIRE A PROPERTY INTEREST LOCATED IN LONG BEACH · CA · 0.01% owned · share of income -$79 · share of assets $1,708,200 · general or managing partner

    Directly controlled by CADI XII LLC

  • PLAZA DE CABRILLO LP

    TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA

  • THE COVE LP

    TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA

  • CENTURY ACKERFIELD LLC

    TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA

  • CENTURY CITYVIEW LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 40% owned · share of income -$137,297 · share of assets $16,514,068 · general or managing partner

    Directly controlled by CADI XIV LLC

  • THE BANNING LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 0.01% owned · share of income -$109 · share of assets $4,245,833 · general or managing partner

    Directly controlled by CADI XIII LLC

  • CENTURY WLAVA 1 LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 0.01% owned · share of assets $7,730,585 · general or managing partner

    Directly controlled by CENTURY WLAVA1 LLC

  • CENTURY WLAVA 2 LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 0.01% owned · share of income $1 · share of assets $9,642,107 · general or managing partner

    Directly controlled by CENTURY WLAVA2 LLC

  • ONE SAN PEDRO COLLABORATIVE LLC

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 33.33% owned · share of assets $1,047,663

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202523219349325922

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