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Nonprofiteer
← PAHC APARTMENTS INC

Form 990 for tax year 2022

Filed by PAHC APARTMENTS INC.

Totals

Total revenue
$4,276,884
Total expenses
$3,921,655
Contributions and grants received
$0
Grants paid
$2,807,032
Program service revenue
$4,271,473
Investment income
$5,411
Other revenue
$0
Total assets, end of year
$13,966,831
Total liabilities, end of year
$2,814,776
Net assets or fund balances, end of year
$11,152,055
Program services expenses (Part IX)
$3,755,185
Management and general expenses
$166,470
Fundraising expenses
$0
Program service expenses (Part III)
$3,755,185

Program services were 95.8% 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: INCOME FROM AFFORDABLE

    total $2,850,175 · related or exempt $2,850,175

  • 2b · Program service revenue: RENTAL INCOME

    total $816,007 · related or exempt $816,007

  • 2c · Program service revenue: HOUSING ASSISTANCE PAY

    total $605,291 · related or exempt $605,291

  • 3 · Investment income

    total $5,411 · excluded $5,411

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,807,032 · program services $2,807,032

  • 7 · Other salaries and wages

    total $162,192 · program services $162,192

  • 9 · Other employee benefits

    total $43,079 · program services $43,079

  • 10 · Payroll taxes

    total $11,379 · program services $11,379

  • 11a · Fees: management

    total $122,236 · management and general $122,236

  • 11b · Fees: legal

    total $3,250 · program services $3,250

  • 11c · Fees: accounting

    total $34,271 · management and general $34,271

  • 11g · Fees: other

    total $9,963 · management and general $9,963

  • 13 · Office expenses

    total $14,879 · program services $14,879

  • 20 · Interest

    total $32,148 · program services $32,148

  • 22 · Depreciation, depletion and amortization

    total $141,419 · program services $141,419

  • 23 · Insurance

    total $49,502 · program services $49,502

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $277,532 · program services $277,532

  • 24b · Other expenses: RESIDENT SERVICES FEES

    total $80,456 · program services $80,456

  • 24c · Other expenses: UTILITIES

    total $68,903 · program services $68,903

  • 24d · Other expenses: REAL ESTATE TAX

    total $36,653 · program services $36,653

  • 24e · All other expenses

    total $26,761 · program services $26,761

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $239,795 · end of year $700,305

  • 2 · Savings and temporary cash investments

    beginning of year $1,457,101 · end of year $1,125,015

  • 4 · Accounts receivable

    beginning of year $292,487 · end of year $283,851

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,185 · end of year $30,744

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

    $8,588,886

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

    $6,166,508

  • 10c · Land, buildings and equipment, net

    beginning of year $2,452,996 · end of year $2,422,378

  • 13 · Investments: program-related

    beginning of year $8,103,532 · end of year $8,131,099

  • 15 · Other assets

    beginning of year $1,231,363 · end of year $1,273,439

  • 17 · Accounts payable and accrued expenses

    beginning of year $115,248 · end of year $19,305

  • 19 · Deferred revenue

    beginning of year $11,130 · end of year $38,316

  • 23 · Secured mortgages and notes payable

    beginning of year $2,745,364 · end of year $2,514,197

  • 25 · Other liabilities

    beginning of year $115,891 · end of year $242,958

  • 27 · Net assets without donor restrictions

    beginning of year $10,796,826 · end of year $11,152,055

Mission and programs · 2022

Mission

TO PROVIDE HOUSING FOR LOW AND MODERATE INCOME PERSONS AND TO LESSEN THE BURDEN OF LOCAL GOVERNMENT BY DEVELOPING AND OPERATING HOUSING FOR LOW AND MODERATE INCOME PERSONS WITHIN SANTA CLARA AND SAN MATEO COUNTIES.

Activities or mission (Part I)

PROVISION OF DECENT AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS.

  • PROVISION OF DECENT AFFORDABLE HOUSING FOR LOW INCOME INDIVIDUALS.

    Expenses $3,755,185 · Grants $2,807,032 · Revenue $4,271,473

As filed on the 2022 return.

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

  • Lori Saito

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rachel Horst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ronald Hall

    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

  • Karen Routt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anna Botelho

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Ratner

    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
    $339,749
    From this org
    $0
    From related orgs
    $278,200
    Other
    $61,549
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,200 related
    Bonus
    $0 + $26,000 related
    Other
    $0
    Deferred
    $0 + $16,692 related
    Nontaxable benefits
    $0 + $44,857 related
    Filer's total
    $0 + $339,749 related

  • Marc Garcia

    CFO

    Total calculated
    $243,681
    From this org
    $0
    From related orgs
    $193,145
    Other
    $50,536
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,056 related
    Bonus
    $0 + $6,089 related
    Other
    $0
    Deferred
    $0 + $11,589 related
    Nontaxable benefits
    $0 + $38,947 related
    Filer's total
    $0 + $243,681 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BARKER HOTEL LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $395,398 · assets $2,101,799

    Directly controlled by PAHC APARTMENTS INC

  • OAK MANOR TOWNHOUSES LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $1,016,740 · assets $3,533,806

    Directly controlled by PAHC APARTMENTS INC

  • PAHC PARTNERS LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $8,369 · assets $50,643

    Directly controlled by PAHC APARTMENTS INC

  • PAHC PROPERTIES LLC

    TO PROVIDE LOW INCOME HOUSING · CA · income $0 · assets $26,113

    Directly controlled by PAHC APARTMENTS INC

Related partnerships

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

  • 1701 ECR LP

    LOW INCOME HOUSING · CA

  • 2821 EL CAMINO REAL LP

    LOW INCOME HOUSING · CA

  • 950 EL CAMINO REAL LP

    LOW INCOME HOUSING · CA

  • AH 2801 ECR LP

    LOW INCOME HOUSING · CA

  • ALMA PLACE ASSOCIATES

    RELATED · LOW INCOME HOUSING · CA · 99% owned · share of income $64,363 · share of assets $4,577,501

    Directly controlled by PAHC ALMA PLACE INC & PAHC APARTMENTS INC

  • ARASTRADERO PARK LP

    LOW INCOME HOUSING · CA

  • COLORADO PARK LP

    LOW INCOME HOUSING · CA

  • OAK COURT APARTMENTS LP

    RELATED · LOW INCOME HOUSING · CA · 99.99% owned · share of income -$276,747 · share of assets $9,132,088

    Directly controlled by PAHC SHERIDAN APTS INC & PAHC PARTNERS LLC

  • SHERIDAN APTS AFFORDABLE HOUSING LP

    RELATED · LOW INCOME HOUSING · CA · 99.99% owned · share of income $831,182 · share of assets $4,776,131

    Directly controlled by PAHC SHERIDAN APTS INC & PAHC APARTMENTS INC

  • TERRA BELLA I LP

    RELATED · LOW INCOME HOUSING · CA · 1% owned

    Directly controlled by TERRA BELLA I LLC & PAHC APARTMENTS INC

  • TREE HOUSE APARTMENTS LP

    LOW INCOME HOUSING · CA

  • WEBSTER WOOD APARTMENTS LLC

    RELATED · LOW INCOME HOUSING · CA · 98.99% owned · share of income $2,208,921 · share of assets $9,007,690

    Directly controlled by PAHC PROPERTIES CORPORATION & PAHC APARTMENTS INC

  • WILTON ECR LP

    LOW INCOME HOUSING · CA

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303179349305345

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