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← ROTARY PLAZA-HACSC HDC INC

Form 990 for tax year 2024

Filed by ROTARY PLAZA-HACSC HDC INC.

Totals

Total revenue
$3,699,315
Total expenses
$3,028,393
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,710,851
Investment income
-$11,536
Other revenue
$0
Total assets, end of year
$19,083,063
Total liabilities, end of year
$11,743,124
Net assets or fund balances, end of year
$7,339,939
Program services expenses (Part IX)
$3,008,830
Management and general expenses
$19,563
Fundraising expenses
$0
Program service expenses (Part III)
$3,008,830

Program services were 99.4% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $3,676,085 · related or exempt $3,676,085

  • 2b · Program service revenue: OTHER REVENUE

    total $34,766 · related or exempt $34,766

  • 3 · Investment income

    total $16,924 · excluded $16,924

  • 7b · Less cost or other basis and sales expenses

    other assets $28,460

  • 7c · Gain or loss

    other assets -$28,460

  • 7d · Net gain or loss

    total -$28,460 · excluded -$28,460

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $19,563 · management and general $19,563

  • 20 · Interest

    total $287,695 · program services $287,695

  • 22 · Depreciation, depletion and amortization

    total $575,689 · program services $575,689

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $816,283 · program services $816,283

  • 24b · Other expenses: ADMINISTRATION

    total $721,623 · program services $721,623

  • 24c · Other expenses: UTILITIES

    total $348,777 · program services $348,777

  • 24d · Other expenses: TAXES AND INSURANCE

    total $238,763 · program services $238,763

  • 24e · All other expenses

    total $20,000 · program services $20,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,962,280 · end of year $7,725,273

  • 4 · Accounts receivable

    beginning of year $134,427 · end of year $168,058

  • 9 · Prepaid expenses and deferred charges

    beginning of year $65,064 · end of year $85,104

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

    $14,058,238

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

    $5,372,176

  • 10c · Land, buildings and equipment, net

    beginning of year $9,114,985 · end of year $8,686,062

  • 15 · Other assets

    beginning of year $2,428,723 · end of year $2,418,566

  • 17 · Accounts payable and accrued expenses

    beginning of year $230,158 · end of year $546,363

  • 19 · Deferred revenue

    beginning of year $55,079 · end of year $48,195

  • 23 · Secured mortgages and notes payable

    beginning of year $10,932,637 · end of year $10,330,145

  • 25 · Other liabilities

    beginning of year $818,588 · end of year $818,421

  • 27 · Net assets without donor restrictions

    beginning of year $6,669,017 · end of year $7,339,939

Mission and programs · 2024

Mission

TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING.

Activities or mission (Part I)

THE ORGANIZATION OPERATED HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES.

  • ON APRIL 19, 2013, ROTARY PLAZA ACQUIRED MORRONE GARDENS APARTMENTS (MORRONE GARDENS), A 102-UNIT AFFORDABLE HOUSING COMPLEX FOR THE ELDERLY LOCATED IN SAN JOSE, CALIFORNIA FROM MORRONE GARDENS ASSOCIATES, A CALIFORNIA LIMITED PARTNERSHIP, OF WHICH ROTARY PLAZA WAS THE GENERAL PARTNER.ROTARY PLAZA WAS THE GENERAL PARTNER OF HUFF AVENUE ASSOCIATES, A CALIFORNIA LIMITED PARTNERSHIP FORMED ON MARCH 7, 1994, WHICH OWNED AND OPERATED A 72-UNIT AFFORDABLE HOUSING COMPLEX LOCATED IN SAN JOSE, CALIFORNIA, OPERATING UNDER THE NAME OF HUFF GARDENS APARTMENTS (HUFF GARDENS). ON DECEMBER 11, 2015, HUFF GARDENS WAS TRANSFERRED TO HUFF AVENUE LLC, A LIMITED LIABILITY COMPANY FORMED ON JULY 3, 2014. ROTARY PLAZA IS THE SOLE MEMBER OF HUFF AVENUE LLC.

    Expenses $3,008,830 · Revenue $3,710,851

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Preston Prince

    PRESIDENT

    Total calculated
    $507,304
    From this org
    $0
    From related orgs
    $438,106
    Other
    $69,198
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $423,606 related
    Bonus
    $0
    Other
    $0 + $14,500 related
    Deferred
    $0 + $44,309 related
    Nontaxable benefits
    $0 + $24,889 related
    Filer's total
    $0 + $507,304 related

  • Russell Brunson

    VICE PRESIDENT/SECRETARY

    Total calculated
    $308,835
    From this org
    $0
    From related orgs
    $291,123
    Other
    $17,712
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $273,681 related
    Bonus
    $0
    Other
    $0 + $17,442 related
    Deferred
    $0 + $14,183 related
    Nontaxable benefits
    $0 + $3,529 related
    Filer's total
    $0 + $308,835 related

  • Flaherty Ward

    VICE PRESIDENT/TREASURER

    Total calculated
    $327,323
    From this org
    $0
    From related orgs
    $288,251
    Other
    $39,072
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $287,119 related
    Bonus
    $0
    Other
    $0 + $1,132 related
    Deferred
    $0 + $14,183 related
    Nontaxable benefits
    $0 + $24,889 related
    Filer's total
    $0 + $327,323 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
WRITTEN EMPLOYMENT CONTRACTS WERE USED TO ESTABLISH COMPENSATION OF RELATED ORGANIZATION'S EXECUTIVES. BOARD OR COMPENSATION COMMITTEE'S APPROVAL IS ALSO 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

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.

  • AVENIDA ESPANA HDC INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • BRACHER HDC INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • DEROSE HDC INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • SANTA CLARA COUNTY HOUSING AUTHORITY

    170 (B)(1)(A)(V) · PUBLIC AGENCY · CA

  • HOUSING DEVELOPMENT CORPORATION INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • PINMORE HDC INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • POCO WAY HDC INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • SPG HOUSING INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • VILLA GARCIA INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

  • VILLA SAN PEDRO HDC INC

    501(C)(3) · GP TAX CREDIT AFFORDABLE HOUSING · CA

    Directly controlled by SANTA CLARA COUNTY HOUSING AUTHORITY

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.

  • HUFF AVENUE LLC

    AFFORDABLE HOUSING · CA · income $2,165,882 · assets $5,972,441

    Directly controlled by ROTARY PLAZAHACSC HDC INC

Related partnerships

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

  • AE ASSOCIATES LTD

    AFFORDABLE HOUSING · CA

  • ALVARADO PARK LP

    AFFORDABLE HOUSING · CA

  • BASCOMHACSC ASSOCIATES LP

    AFFORDABLE HOUSING · CA

  • BAYBERRY APARTMENTS LP

    AFFORDABLE HOUSING · CA

  • BELLARMINO PLACE LP

    AFFORDABLE HOUSING · CA

  • BENDORF DRIVE LP

    AFFORDABLE HOUSING · CA

  • BLOSSOM RIVER ASSOCIATES

    AFFORDABLE HOUSING · CA

  • BUENA VISTA COMMONS LP

    AFFORDABLE HOUSING · CA

  • CLARENDON STREET LP

    AFFORDABLE HOUSING · CA

  • FAIRGROUNDS LUXURY FAMILY APARTMENTS LP

    AFFORDABLE HOUSING · CA

  • FAIRGROUNDS SENIOR HOUSING LP

    AFFORDABLE HOUSING · CA

  • GIRASOL ACQUISTION LP

    AFFORDABLE HOUSING · CA

  • HACSCCHOICES FAMILY ASSOCIATES LP

    AFFORDABLE HOUSING · CA

  • HACSCCHOICES SENIOR ASSOCIATES LP

    AFFORDABLE HOUSING · CA

  • HAWTHORN SENIOR APARTMENTS LP

    AFFORDABLE HOUSING · CA

  • HELZER ASSOCIATES LP

    AFFORDABLE HOUSING · CA

  • JARDINES PALOMA BLANCA ACQUISTION LP

    AFFORDABLE HOUSING · CA

  • JULIAN STREET PARTNERS LP

    AFFORDABLE HOUSING · CA

  • KLAMATH ASSOCIATES

    AFFORDABLE HOUSING · CA

  • LAS GOLONDRINAS ACQUISITION LP

    AFFORDABLE HOUSING · CA

  • LAUREL GROVE LANE LP

    AFFORDABLE HOUSING · CA

  • MCCREERY AVENUE LP

    AFFORDABLE HOUSING · CA

  • PARK AVENUE SENIORS LP

    AFFORDABLE HOUSING · CA

  • PRIMROSE APARTMENTS LP

    AFFORDABLE HOUSING · CA

  • RINCON GARDENS ASSOCIATES LP

    AFFORDABLE HOUSING · CA

  • SAGE FAMILY APARTMENTS LP

    AFFORDABLE HOUSING · CA

  • SAN PEDRO GARDENS ASSOCIATES LTD

    AFFORDABLE HOUSING · CA

  • TRILLIUM SENIOR APARTMENTS LP

    AFFORDABLE HOUSING · CA

  • WILLOWS RESYNDICATION LP

    AFFORDABLE HOUSING · CA

  • WILLOWSHACSC ASSOCIATES

    AFFORDABLE HOUSING · CA

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202503189349310750

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