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Nonprofiteer
← PAHC SHERIDAN APARTMENTS INC

Form 990 for tax year 2023

Filed by PAHC SHERIDAN APARTMENTS INC.

Totals

Total revenue
$126,013
Total expenses
$525,961
Contributions and grants received
$0
Grants paid
$100,000
Program service revenue
$126,013
Investment income
$0
Other revenue
$0
Total assets, end of year
$160,731
Total liabilities, end of year
$2,004,813
Net assets or fund balances, end of year
-$1,844,082
Program services expenses (Part IX)
$524,086
Management and general expenses
$1,875
Fundraising expenses
$0
Program service expenses (Part III)
$524,086

Program services were 99.6% 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.

  • 2a · Program service revenue: MANAGEMENT FEES

    total $126,013 · related or exempt $126,013

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,000 · program services $100,000

  • 11c · Fees: accounting

    total $1,800 · management and general $1,800

  • 24a · Other expenses: LOSS ON INVESTMENT

    total $424,086 · program services $424,086

  • 24b · Other expenses: PERMITS, LICENSES & FEE

    total $75 · management and general $75

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $42,575 · end of year $64,067

  • 4 · Accounts receivable

    beginning of year $93,760 · end of year $96,479

  • 13 · Investments: program-related

    beginning of year $174 · end of year $185

  • 25 · Other liabilities

    beginning of year $1,580,643 · end of year $2,004,813

  • 27 · Net assets without donor restrictions

    beginning of year -$1,444,134 · end of year -$1,844,082

Mission and programs · 2023

Mission

TO PROVIDE HOUSING FOR LOW-INCOME PERSONS; TO SERVE AS A GENERAL PARTNER IN A LIMITED PARTNERSHIP WHICH OWNS AND OPERATES HOUSING FOR THE BENEFIT OF LOW-INCOME PERSONS AND TO SUPPORT THE PURPOSES OF PALO ALTO HOUSING CORPORATION.

Activities or mission (Part I)

TO PROVIDE HOUSING FOR LOW-INCOME PERSONS; TO SERVE AS A GENERAL PARTNER IN A LIMITED PARTNERSHIP WHICH OWNS AND OPERATES HOUSING FOR THE BENEFIT OF LOW-INCOME PERSONS AND TO SUPPORT THE PURPOSES OF ALTA HOUSING.

  • THE ORGANIZATION SERVES AS GENERAL PARTNER TO TWO PARTNERSHIPS WHICH PROVIDE LOW-INCOME RENTAL HOUSING TO APPROXIMATELY 110 LOW-INCOME FAMILIES. THE SPECIFIC CHARITABLE AND PUBLIC PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE (1) TO PROVIDE HOUSING FOR LOW-INCOME PERSONS, WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH GROUPS; (2) TO SERVE AS GENERAL PARTNER IN A LIMITED PARTNERSHIP WHICH OWNS AND OPERATES HOUSING FOR THE BENEFIT OF LOW-INCOME PERSONS WHO ARE IN NEED OF AFFORDABLE, DECENT, SAFE AND SANITARY HOUSING AND RELATED SERVICES, WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH GROUPS; AND (3) TO SUPPORT THE PURPOSES OF PALO ALTO HOUSING CORPORATION, A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION WHICH IS EXEMPT FROM FEDERAL INCOME TAX AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986.

    Expenses $524,086 · Grants $100,000 · Revenue $126,013

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JEAN MCCOWN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JACK THOMPSON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BONNIE PACKER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MENKA SETHI

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH MARTIGNETTI JR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARGARET SLOAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAREN ROUTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RONALD HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LORI SAITO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH RATNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JUAN MENDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM MYERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RACHEL HORST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANNA BOTELHO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • OLYA KRASNYKH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MELISSA SCHILD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RANDAL TSUDA

    PRESIDENT & CEO

    Total calculated
    $354,026
    From this org
    $0
    From related orgs
    $288,288
    Other
    $65,738
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,288 related
    Bonus
    $0 + $26,000 related
    Other
    $0
    Deferred
    $0 + $17,297 related
    Nontaxable benefits
    $0 + $48,441 related
    Filer's total
    $0 + $354,026 related

  • MARC GARCIA

    CFO

    Total calculated
    $251,277
    From this org
    $0
    From related orgs
    $204,463
    Other
    $46,814
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,018 related
    Bonus
    $0 + $6,445 related
    Other
    $0
    Deferred
    $0 + $12,268 related
    Nontaxable benefits
    $0 + $34,546 related
    Filer's total
    $0 + $251,277 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

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

The filer's explanations (Part III)

PART I, LINE 3
RELATED ORGANIZATION'S OFFICERS COMPENSATION IS DETERMINED BY THE BOARD. BOARD OR COMPENSATION COMMITTEE'S APPROVAL IS REQUIRED.

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.

Related partnerships

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

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202413209349300616

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