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← SBCS QALICB

Form 990 for tax year 2023

Filed by SBCS QALICB.

Totals

Total revenue
$0
Total expenses
$115,226
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$35,209,826
Total liabilities, end of year
$33,436,474
Net assets or fund balances, end of year
$1,773,352
Program services expenses (Part IX)
$0
Management and general expenses
$115,226
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $115,226 · management and general $115,226

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,409,315 · end of year $18,767,984

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $6,515,182 · end of year $16,441,842

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,919 · end of year $1,411,474

  • 23 · Secured mortgages and notes payable

    beginning of year $32,025,000 · end of year $32,025,000

  • 27 · Net assets without donor restrictions

    beginning of year $1,888,578 · end of year $1,773,352

Mission and programs · 2023

Mission

To provide children, youth and families with services and programs which reinforce the familys role in our community and which assist individuals to aspire realistically to lives of self-fulfillment.

  • SBCS QALICB was established in February 2023 to perform the functions of, and/or to carry out the purposes of, certain specified charitable organizations the primary purpose of which are to provide children, youth and families with services and programs which reinforce the familys role in our community and which assist individuals to aspire realistically to lives of self-fulfillment, which are organized and operated exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Code.SBCS is constructing a new facility to lease the property as a qualified active low-income community business (the Project). Funding for the Project was secured from multiple sources and the funders required that a separate corporation hold the land and the building. Therefore, SBS QALICB was formed in 2023, to be operated at all times exclusively for the benefit of, to perform the functions of, and/or to carry out the purposes of SBCS. In 2023, SBCS QALICB acquired the land and building from SBCS at the financial closing date of May 4, 2023. Construction of the Project is expected to be completed during the year ended June 30, 2024.Construction of the new facility constitutes a qualified active low-income community business defined in Section 45D of the Internal Revenue Code of 1986, as amended (the Code) and was financed with qualified low-income community investment loans from CCP NMTC SUB-CDE XXI, LLC and Catalyst CDE-28, LLC and generated New Market Tax Credit financing.

As filed on the 2023 return.

Listed in Part VII

  • Kathryn Lembo

    Chair

    Total calculated
    $426,674
    From this org
    $0
    From related orgs
    $366,735
    Other
    $59,939
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $366,735 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $27,136 related
    Nontaxable benefits
    not reported + $32,803 related
    Filer's total
    not reported + $426,674 related

  • Elizabeth Iniguez

    Treasurer

    Total calculated
    $213,174
    From this org
    $0
    From related orgs
    $185,555
    Other
    $27,619
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $185,555 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $18,616 related
    Nontaxable benefits
    not reported + $9,003 related
    Filer's total
    not reported + $213,174 related

  • Larissa Bacon

    Secretary

    Total calculated
    $182,660
    From this org
    $0
    From related orgs
    $161,074
    Other
    $21,586
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $161,074 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $13,470 related
    Nontaxable benefits
    not reported + $8,116 related
    Filer's total
    not reported + $182,660 related

  • Mary Salas

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lisa Cuestas

    Director

    Total calculated
    $0
    Hours/week
    1

  • Frankie Escobedo

    Director

    Total calculated
    $0
    Hours/week
    1

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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202501269349303190

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