Form 990 for tax year 2023

Filed by GPTODCO-B INC.

Totals

Total revenue: $107,310
Total expenses: $491,699
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $10,000
Investment income: $97,310
Other revenue: $0
Total assets, end of year: $5,322,071
Total liabilities, end of year: $5,605,536
Net assets or fund balances, end of year: -$283,465
Program services expenses (Part IX): $462,685
Management and general expenses: $29,014
Fundraising expenses: $0
Program service expenses (Part III): $462,685

Program services were 94.1% 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.

2a · Program service revenue: PARTNERSHIP MGMT FEES

total $10,000 · related or exempt $10,000
3 · Investment income

total $97,310 · related or exempt $97,310

Functional expenses

Part IX, the statement of functional expenses.

11c · Fees: accounting

total $2,380 · management and general $2,380
20 · Interest

total $97,310 · program services $97,310
23 · Insurance

total $26,194 · management and general $26,194
24a · Other expenses: LOSS FROM PARTNERSHIP

total $365,375 · program services $365,375
24b · Other expenses: FILLING FEE

total $440 · management and general $440

Balance sheet

Part X, book values.

4 · Accounts receivable

beginning of year $80,000 · end of year $90,000
7 · Other notes and loans receivable

beginning of year $2,432,745 · end of year $2,530,055
9 · Prepaid expenses and deferred charges

beginning of year $1,842 · end of year $2,016
12 · Investments: other securities

beginning of year $234,986 · end of year $0
15 · Other assets

beginning of year $2,700,000 · end of year $2,700,000
17 · Accounts payable and accrued expenses

beginning of year $214,413 · end of year $243,601
25 · Other liabilities

beginning of year $5,134,236 · end of year $5,361,935
27 · Net assets without donor restrictions

beginning of year $100,924 · end of year -$283,465

Mission and programs · 2023

Mission

PROVIDE HOUSING FOR LOW INCOME PERSONS AND SERVE AS MANAGING GENERAL PARTNER IN TWO LIMITED PARTNERSHIPS THAT OWN AND OPERATE LOW INCOME HOUSING.

GP/TODCO-B IS A MANAGING GENERAL PARTNER OF CEATRICE POLITE LIMITED PARTNERSHIP, WHICH OWNS CEATRICE POLITE APARTMENTS, A 91 UNIT LOW INCOME SENIOR AND HANDICAPPED HOUSING PROJECT LOCATED IN SAN FRANCISCO. GP/TODCO-B IS A SOLE MEMBER OF WOOLF HOUSE LLC, WHICH IS A MANAGING GENERAL PARTNER OF WOOLF HOUSE PARTNERS LP THAT OWNS A 182 UNIT LOW INCOME SENIOR HOUSING PROJECT IN SAN FRANCISCO.

Expenses $462,685 · Revenue $107,310

As filed on the 2023 return.

Listed in Part VII

Albert GilbertALBERT GILBERT

BOARD CHAIR/SECRETARY

Total calculated

$0

Hours/week

1 + 1 related
Bernadette SyBERNADETTE SY

TREASURER

Total calculated

$0

Hours/week

1 + 1 related
Karen GansenKAREN GANSEN

ASSISTANT SECRETARY

Total calculated

$0

Hours/week

1 + 1 related
Carla LaurelCARLA LAUREL

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Matthias MorminoMATTHIAS MORMINO

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Michael PaciaMICHAEL PACIA

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Dora Lee-Left In 2023DORA LEE-LEFT IN 2023

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Denis Henmi-Left In 2023DENIS HENMI-LEFT IN 2023

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Eric Tao-Left In 2023ERIC TAO-LEFT IN 2023

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Allan Manalo-Left In 2023ALLAN MANALO-LEFT IN 2023

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
John ElberlingJOHN ELBERLING

PRESIDENT

Total calculated

$0

Hours/week

5 + 35 related
Anna YeeANNA YEE

CEO

Total calculated

$0

Hours/week

5 + 35 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.

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.

GPTODCO-A INC

501(C)(3) · DEVELOP AFFORDABLE HOUSING IN SAN FRANCISCO · CA

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.

WOOLF HOUSE LLC

GEN PARTNER OF TAX CREDIT LIMITED PARTNERSHIP · CA · income $107,457 · assets $2,620,055

Directly controlled by GPTODCO-B INC
TODCO GROUP LLC

LIMITED PARTNER OF TAX CREDIT LIMITED PARTNERSHIP · CA · income -$365,485 · assets $2,701,008

Directly controlled by GPTODCO-B INC

Related partnerships

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

BAYANIHAN PARTNERS

RELATED · LOW INCOME HOUSING · CA · 99.99% owned · share of income -$520,300 · share of assets $7,990,405

Directly controlled by GPTODCO-A INC
HOTEL GRAND SOUTHERN

RELATED · LOW INCOME HOUSING · CA · 99.99% owned · share of income -$508,780 · share of assets $8,912,343

Directly controlled by GPTODCO-A INC
THE KNOX PARTNERS LIMITED PARTNERSHIP

RELATED · LOW INCOME HOUSING · CA · 99% owned · share of income -$629,265 · share of assets $5,210,384

Directly controlled by GPTODCO-A INC
CEATRICE POLITE LIMITED PARTNERSHIP

RELATED · LOW INCOME HOUSING · CA · 0.01% owned · share of income -$40 · share of assets $1,250,544 · general or managing partner

Directly controlled by GPTODCO-B
WOOLF HOUSE PARTNERS LP

RELATED · LOW INCOME HOUSING · CA · 0.01% owned · share of income $10,158 · share of assets $3,070,228 · general or managing partner

Directly controlled by WOOLF HOUSE LLC

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 November 2024
IRS schema version: 2023v5.1
Source object: 202413209349324916

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