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Nonprofiteer
← PEP HOUSING

Form 990 for tax year 2024

Filed by PEP HOUSING.

Totals

Total revenue
$8,137,886
Total expenses
$6,357,472
Contributions and grants received
$4,142,520
Grants paid
$265,797
Program service revenue
$3,505,675
Investment income
$489,691
Other revenue
$0
Total assets, end of year
$12,778,744
Total liabilities, end of year
$3,561,368
Net assets or fund balances, end of year
$9,217,376
Program services expenses (Part IX)
$5,947,605
Management and general expenses
$338,684
Fundraising expenses
$71,183
Program service expenses (Part III)
$5,947,605

Program services were 93.6% 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.

  • 1c · Fundraising events

    $2,415

  • 1d · Related organizations

    $61,280

  • 1e · Government grants (contributions)

    $2,145,686

  • 1f · All other contributions, gifts and grants

    $1,933,139

  • 2a · Program service revenue: Property Management Fe

    total $957,160 · related or exempt $957,160

  • 2b · Program service revenue: Allocable Share PS Ren

    total $900,971 · related or exempt $900,971

  • 2c · Program service revenue: Developer Fees

    total $857,143 · related or exempt $857,143

  • 2d · Program service revenue: Tenant Rents

    total $583,991 · related or exempt $583,991

  • 2e · Program service revenue: Other Income

    total $196,233 · related or exempt $196,233

  • 2f · All other program service revenue

    total $10,177 · related or exempt $10,177

  • 3 · Investment income

    total $489,691 · excluded $489,691

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $2,415

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $265,797 · program services $265,797

  • 5 · Compensation of officers, directors and key employees

    total $277,846 · program services $245,010 · management and general $24,498 · fundraising $8,338

  • 7 · Other salaries and wages

    total $1,710,581 · program services $1,524,818 · management and general $134,148 · fundraising $51,615

  • 8 · Pension plan contributions

    total $27,181 · program services $20,593 · management and general $5,804 · fundraising $784

  • 9 · Other employee benefits

    total $129,887 · program services $100,342 · management and general $26,031 · fundraising $3,514

  • 10 · Payroll taxes

    total $222,434 · program services $171,243 · management and general $45,102 · fundraising $6,089

  • 11b · Fees: legal

    total $79,092 · program services $71,183 · management and general $7,909

  • 11c · Fees: accounting

    total $44,370 · management and general $44,370

  • 11g · Fees: other

    total $57,814 · program services $48,722 · management and general $8,249 · fundraising $843

  • 12 · Advertising and promotion

    total $10,337 · program services $9,465 · management and general $872

  • 13 · Office expenses

    total $93,106 · program services $87,286 · management and general $5,820

  • 14 · Information technology

    total $139,541 · program services $127,732 · management and general $11,809

  • 16 · Occupancy

    total $385,222 · program services $380,126 · management and general $5,096

  • 17 · Travel

    total $4,621 · program services $4,217 · management and general $404

  • 19 · Conferences, conventions and meetings

    total $68,768 · program services $62,394 · management and general $6,374

  • 20 · Interest

    total $196,141 · program services $196,141

  • 22 · Depreciation, depletion and amortization

    total $280,746 · program services $274,402 · management and general $6,344

  • 23 · Insurance

    total $114,929 · program services $111,019 · management and general $3,910

  • 24a · Other expenses: Allocable Share PS Expe

    total $2,068,566 · program services $2,068,566

  • 24b · Other expenses: Community Relations

    total $124,646 · program services $124,646

  • 24c · Other expenses: Dues and Subscription

    total $16,369 · program services $15,007 · management and general $1,362

  • 24d · Other expenses: Development Expense

    total $15,650 · program services $15,650

  • 24e · All other expenses

    total $23,828 · program services $23,246 · management and general $582

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $695,197

  • 2 · Savings and temporary cash investments

    beginning of year $4,476,319 · end of year $4,408,687

  • 4 · Accounts receivable

    beginning of year $188,746 · end of year $540,774

  • 7 · Other notes and loans receivable

    beginning of year $3,615,206 · end of year $6,822,347

  • 9 · Prepaid expenses and deferred charges

    beginning of year $71,247 · end of year $122,411

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

    $5,123,718

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

    $2,727,971

  • 10c · Land, buildings and equipment, net

    beginning of year $9,830,239 · end of year $2,395,747

  • 13 · Investments: program-related

    beginning of year -$629,293 · end of year -$6,444,950

  • 15 · Other assets

    beginning of year $5,111,962 · end of year $4,933,728

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,071,028 · end of year $533,947

  • 23 · Secured mortgages and notes payable

    beginning of year $9,198,461 · end of year $2,983,363

  • 25 · Other liabilities

    beginning of year $62,089 · end of year $44,058

  • 27 · Net assets without donor restrictions

    beginning of year $11,467,068 · end of year $8,971,626

  • 28 · Net assets with donor restrictions

    beginning of year $560,977 · end of year $245,750

Mission and programs · 2024

Mission

PEP Housing, a nonprofit organization, develops and manages quality affordable housing and provides supportive services for older adults with limited incomes.

  • Directly owns and operates 7 buildings, comprising of 85 units of low-income housing for senior citizens and persons with disabilities in petaluma, California.

    Expenses $5,947,605 · Grants $265,797 · Revenue $3,505,675

  • Provision of development & construction management services in the development and rehabilitation of affordable housing projects for the benefit of low-income senior citizens and persons with disabilities.

  • Property management of assisted housing for low-income senior citizens and persons with disabilities.

  • The corporation serves as a general partner or limited partner in four limited partnerships which provide a total of 156 total units of low-income housing located in Petaluma and Kentfield, California. The corporation also serves as the sole owner of one limited liability company which provides 49 units of low-income housing located in Santa Rosa, CA and the sole owner of two other limited liability companies that serves as a general partner of limited partners that provide low-income housing.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Harry Coffey

    Chair Person

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Sean Pryden

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Don Ross

    Treasurer

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Ben Pryden

    Secretary

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • George F Spragens

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Joseph Tinney

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Roy Martinez

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Jim Ryan

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Matthew Haas

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Ricardo Villagomez

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Eloise Tweeten

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • Jennifer Litwak

    CEO/President

    Total calculated
    $277,846
    From this org
    $256,852
    From related orgs
    $0
    Other
    $20,994
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $231,852
    Bonus
    $25,000
    Other
    $0
    Deferred
    $11,208
    Nontaxable benefits
    $9,786
    Filer's total
    $277,846

  • Karin Anderson

    Sr Dir-Finance

    Total calculated
    $164,752
    From this org
    $148,833
    From related orgs
    $0
    Other
    $15,919
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $140,700
    Bonus
    $8,133
    Other
    $0
    Deferred
    $6,133
    Nontaxable benefits
    $9,786
    Filer's total
    $164,752

  • Jim Wallen

    Dir of HSG Dev

    Total calculated
    $182,002
    From this org
    $170,563
    From related orgs
    $0
    Other
    $11,439
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $161,922
    Bonus
    $8,641
    Other
    $0
    Deferred
    $1,653
    Nontaxable benefits
    $9,786
    Filer's total
    $182,002

  • Kerry Bentz

    VP of Property Ops

    Total calculated
    $146,181
    From this org
    $140,177
    From related orgs
    $0
    Other
    $6,004
    Hours/week
    40 + 1 related

  • Pamela Lemos

    Dir of Maintenance

    Total calculated
    $111,160
    From this org
    $103,000
    From related orgs
    $0
    Other
    $8,160
    Hours/week
    40 + 1 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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
The annual bonus of the chief executive officer is determined by the board of directors and is based upon total compensation for similar roles in similar organizations. Discretionary annual employee bonuses may be paid, as determined by the chief executive officer.

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

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.

  • Vigil Light Senior Apartments LLC

    Low-Income Housing · CA · income $208,425 · assets -$5,348,017

    Directly controlled by PEP Housing

  • 1317 South Grand MGP LLC

    Low-Income Housing · CA · income $0 · assets $0

    Directly controlled by PEP Housing

  • 1411 Flower Street MGP LLC

    Low-Income Housing · CA · income $0 · assets $0

    Directly controlled by PEP Housing

  • 603 South Mariposa MGP LLC

    Low-Income Housing · CA · income $0 · assets $0

    Directly controlled by PEP Housing

  • 1621 North McCadden MGP LLC

    Low-Income Housing · CA · income $0 · assets $0

    Directly controlled by PEP Housing

  • 6766 Hawthorn MGP LLC

    Low-Income Housing · CA · income $0 · assets $0

    Directly controlled by PEP Housing

Related partnerships

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

  • Casa Grande Senior Apartments LP

    Related · Low-Income Housing · CA · 1% owned · share of income -$104,796 · share of assets $3,282,271 · general or managing partner

    Directly controlled by PEP Housing

  • 575 Vallejo Street Associates

    Related · Low-Income Housing · CA · 99% owned · share of income $232,389 · share of assets $2,406,196

    Directly controlled by PEP Housing

  • 579 Vallejo Street Associates

    Related · Low-Income Housing · CA · 100% owned · share of income $386,985 · share of assets $2,491,080

    Directly controlled by PEP Housing

  • Toussin Senior Apartments LP

    Related · Low-Income Housing · CA · 14.19% owned · share of income -$2 · share of assets $325,644 · general or managing partner

    Directly controlled by PEP Housing

  • Vigil Light Senior Apartments LP

    Related · Low-Income Housing · CA · 0.01% owned · share of income -$103,249 · share of assets $15,935,560 · general or managing partner

    Directly controlled by PEP Housing

  • Acacia Lane Senior Apartments LP

    Low-Income Housing · CA · general or managing partner

    Directly controlled by Caulfield Lane

  • Kellgren Senior Apartments LP

    Low-Income Housing · CA · general or managing partner

    Directly controlled by Caulfield Lane

  • Orange Tree Senior Apartments LP

    Low-Income Housing · CA · general or managing partner

    Directly controlled by Caulfield Lane

  • Sun House Senior Apartments LP

    Low-Income Housing · CA · general or managing partner

    Directly controlled by Caulfield Lane

  • River City Senior Apartments LP

    Low-Income Housing · CA

    Directly controlled by Caulfield Lane

  • Pony Express Senior Apartments LP

    Low-Income Housing · CA

    Directly controlled by Caulfield Lane

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503189349304045

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