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Nonprofiteer
← PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT CORP

Form 990 for tax year 2023

Filed by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT CORP.

Totals

Total revenue
$8,729,813
Total expenses
$6,761,814
Contributions and grants received
$3,933,587
Grants paid
$2,500
Program service revenue
$3,688,520
Investment income
$1,077,375
Other revenue
$30,331
Total assets, end of year
$55,485,008
Total liabilities, end of year
$11,812,168
Net assets or fund balances, end of year
$43,672,840
Program services expenses (Part IX)
$6,517,461
Management and general expenses
$244,353
Fundraising expenses
$0
Program service expenses (Part III)
$6,517,461

Program services were 96.4% 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)

    $3,931,087

  • 1f · All other contributions, gifts and grants

    $2,500

  • 2a · Program service revenue: PROGRAM INCOME

    total $1,998,815 · related or exempt $1,998,815

  • 2b · Program service revenue: DEVELOPER FEES

    total $1,202,801 · related or exempt $1,202,801

  • 2c · Program service revenue: PARTNERSHIP FEES

    total $486,904 · related or exempt $486,904

  • 3 · Investment income

    total $1,077,375 · related or exempt $1,076,177 · excluded $1,198

  • 11a · Other revenue: MISCELLANEOUS

    total $30,331 · related or exempt $30,331

  • 11e · Other revenue, total

    $30,331

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,500 · program services $2,500

  • 5 · Compensation of officers, directors and key employees

    total $470,990 · program services $423,891 · management and general $47,099

  • 7 · Other salaries and wages

    total $931,145 · program services $931,145

  • 8 · Pension plan contributions

    total $11,553 · program services $11,553

  • 9 · Other employee benefits

    total $47,603 · program services $47,603

  • 10 · Payroll taxes

    total $103,198 · program services $92,878 · management and general $10,320

  • 11b · Fees: legal

    total $13,067 · management and general $13,067

  • 11c · Fees: accounting

    total $137,297 · management and general $137,297

  • 11g · Fees: other

    total $41,804 · program services $35,367 · management and general $6,437

  • 13 · Office expenses

    total $22,870 · program services $11,435 · management and general $11,435

  • 14 · Information technology

    total $22,429 · program services $18,974 · management and general $3,455

  • 16 · Occupancy

    total $33,373 · program services $33,373

  • 17 · Travel

    total $13,468 · program services $13,468

  • 20 · Interest

    total $12,882 · program services $12,882

  • 23 · Insurance

    total $23,009 · program services $7,766 · management and general $15,243

  • 24a · Other expenses: MISCELLANEOUS

    total $4,728,847 · program services $4,728,847

  • 24b · Other expenses: PROGRAM EXPENSES

    total $141,417 · program services $141,417

  • 24c · Other expenses: STAFF DEVELOPMENT

    total $2,290 · program services $2,290

  • 24d · Other expenses: TAXES AND PERMITS

    total $2,072 · program services $2,072

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,014,886 · end of year $1,229,608

  • 2 · Savings and temporary cash investments

    beginning of year $105,375 · end of year $105,533

  • 4 · Accounts receivable

    beginning of year $1,866,607 · end of year $1,851,745

  • 7 · Other notes and loans receivable

    beginning of year $19,706,686 · end of year $19,684,686

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,136 · end of year $13,136

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

    $43,685

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

    $43,685

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $32,636,823 · end of year $32,600,300

  • 23 · Secured mortgages and notes payable

    beginning of year $11,678,700 · end of year $11,667,786

  • 24 · Unsecured notes and loans payable

    beginning of year $149,900 · end of year $85,296

  • 25 · Other liabilities

    beginning of year $83,136 · end of year $59,086

  • 27 · Net assets without donor restrictions

    beginning of year $43,431,777 · end of year $43,672,840

Mission and programs · 2023

Mission

THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY AS AN IRC 501(C)(3) CHARITABLE ORGANIZATION TO CONSTRUCT, PROVIDE, SPONSOR, MANAGE, REHABILITATE, AND PRESERVE AFFORDABLE HOUSING AND TO CREATE OPPORTUNITIES FOR ECONOMIC DEVELOPMENT.

  • THE NON-PROFIT CORPORATION PROVIDES SERVICES IN CONNECTION WITH SPONSORSHIP, MANAGEMENT, REHABILITATION, AND PRESERVATION OF AFFORDABLE HOUSING BY ACTING AS A MANAGING GENERAL PARTNER FOR LOW AND MODERATE INCOME PROPERTIES LOCATED IN CALIFORNIA. IT'S INVESTMENTS ALSO INCLUDE CARRYING BELOW MARKET RATE LOANS ON THESE INVESTMENTS. THE ORGANIZATION UTILIZES THIS INCOME TO SERVE MORE THAN 8000 FAMILIES WITH COMPREHENSIVE SERVICES THAT BESIDES THE ABOVE MENTIONED ALSO INCLUDES 1) YOUTH SERVICES I.E. COMPUTER ENRICHMENT AND READING PROGRAMS; 2) ADULT SERVICES I.E. ENGLISH AS A SECOND LANGUAGE; 3) SENIOR SERVICES I.E. HEALTH, FITNESS, AND TRANSPORTATION; AND 4) OTHER I.E. FOOD PROGRAMS AND CRIME PREVENTION.

    Expenses $6,517,461 · Grants $2,500 · Revenue $3,688,520

As filed on the 2023 return.

Listed in Part VII

  • Michael T Walsh

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • Tony Reyes

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Tom Dubose

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Robert W Laing

    PRESIDENT/EXECUTIVE DIRECT

    Total calculated
    $323,144
    From this org
    $300,618
    From related orgs
    $0
    Other
    $22,526
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,618
    Bonus
    $50,000
    Other
    $0
    Deferred
    $10,987
    Nontaxable benefits
    $11,539
    Filer's total
    $323,144

  • Juan P Arroyo

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $147,846
    From this org
    $143,766
    From related orgs
    $0
    Other
    $4,080
    Hours/week
    40

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

None.

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.

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.

  • FEDERATION GP LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC DELIVERANCE LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC MORRO DEL MAR LLC

    RENTAL OF LOW INCOME HOUSING · CA · income -$131

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC SFV LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC ALDEA PARK LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • LACO HOUSING MGP LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • OAKLAND VENTURE MGP LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PUEBLO PSCDC LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • AVIARA PSCDC LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PINOLE PSCDC LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC ONE LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC DIAMOND VALLEY LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC EL DORADO ONE LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC EL DORADO TWO LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC MALLARD LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC MIDDLETOWN LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC AE-1 DIAMOND VALLEY LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC AE-3 DIAMOND VALLEY LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC AE DIAMOND VALLEY LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC AE-2 DIAMOND VALLEY LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC TWO LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC THREE LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC FOUR LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

  • PSCDC DOVERWOODS LLC

    RENTAL OF LOW INCOME HOUSING · CA

    Directly controlled by PACIFIC SOUTHWEST COMMUNITY DEVELOPMENT

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202403129349302890

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