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← SACA DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by SACA DEVELOPMENT CORPORATION.

Totals

Total revenue
$5,511,228
Total expenses
$4,924,069
Contributions and grants received
$4,323,427
Grants paid
$0
Program service revenue
$1,114,009
Investment income
-$153,383
Other revenue
$227,175
Total assets, end of year
$28,151,683
Total liabilities, end of year
$23,211,802
Net assets or fund balances, end of year
$4,939,881
Program services expenses (Part IX)
$4,644,881
Management and general expenses
$279,188
Fundraising expenses
$0
Program service expenses (Part III)
$4,644,881

Program services were 94.3% 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.

  • 1d · Related organizations

    $260,426

  • 1e · Government grants (contributions)

    $2,919,822

  • 1f · All other contributions, gifts and grants

    $1,143,179

  • 1g · Noncash contributions included above

    $904,537

  • 2a · Program service revenue: RENT

    total $764,716 · related or exempt $764,716

  • 2b · Program service revenue: DEVELOPER FEES

    total $300,978 · related or exempt $300,978

  • 2c · Program service revenue: MANAGEMENT FEE

    total $48,315 · related or exempt $48,315

  • 3 · Investment income

    total $143,669 · excluded $143,669

  • 7a · Gross sales of assets other than inventory

    other assets $155,000

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

    other assets $452,052

  • 7c · Gain or loss

    other assets -$297,052

  • 7d · Net gain or loss

    total -$297,052 · excluded -$297,052

  • 11a · Other revenue: REIMBURSEMENTS

    total $171,532 · excluded $171,532

  • 11b · Other revenue: INSURANCE CLAIMS

    total $35,594 · excluded $35,594

  • 11c · Other revenue: REPLACEMENT RESERVE

    total $18,719 · excluded $18,719

  • 11d · All other revenue

    total $1,330 · excluded $1,330

  • 11e · Other revenue, total

    $227,175

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $169,482 · program services $169,482

  • 7 · Other salaries and wages

    total $38,107 · program services $38,107

  • 8 · Pension plan contributions

    total $4,223 · program services $4,223

  • 9 · Other employee benefits

    total $46,521 · program services $46,521

  • 10 · Payroll taxes

    total $15,881 · program services $15,881

  • 11b · Fees: legal

    total $25,678 · management and general $25,678

  • 11c · Fees: accounting

    total $56,125 · management and general $56,125

  • 11g · Fees: other

    total $425,381 · program services $418,535 · management and general $6,846

  • 13 · Office expenses

    total $83,527 · program services $8,996 · management and general $74,531

  • 16 · Occupancy

    total $355,527 · program services $355,527

  • 19 · Conferences, conventions and meetings

    total $1,546 · program services $1,546

  • 20 · Interest

    total $692,530 · program services $692,530

  • 22 · Depreciation, depletion and amortization

    total $483,005 · program services $483,005

  • 23 · Insurance

    total $109,074 · program services $92,270 · management and general $16,804

  • 24a · Other expenses: SUBSIDY ALLOWANCE

    total $1,797,468 · program services $1,797,468

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $324,649 · program services $324,649

  • 24c · Other expenses: PROGRAM COSTS

    total $196,141 · program services $196,141

  • 24d · Other expenses: REPLACEMENT RESERVE EXP

    total $35,660 · management and general $35,660

  • 24e · All other expenses

    total $63,544 · management and general $63,544

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $400,031 · end of year $459,385

  • 2 · Savings and temporary cash investments

    beginning of year $389,403 · end of year $3,569,113

  • 3 · Pledges and grants receivable

    beginning of year $40,000 · end of year $30,000

  • 4 · Accounts receivable

    beginning of year $466,441 · end of year $1,675,272

  • 7 · Other notes and loans receivable

    beginning of year $5,127,428 · end of year $10,388,223

  • 8 · Inventories for sale or use

    beginning of year $78,619 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,439 · end of year $15,970

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

    $16,040,391

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

    $3,417,691

  • 10c · Land, buildings and equipment, net

    beginning of year $11,201,702 · end of year $12,622,700

  • 12 · Investments: other securities

    beginning of year -$207,852 · end of year -$608,980

  • 17 · Accounts payable and accrued expenses

    beginning of year $524,783 · end of year $937,258

  • 19 · Deferred revenue

    beginning of year $1,216,039 · end of year $977,758

  • 23 · Secured mortgages and notes payable

    beginning of year $10,519,540 · end of year $20,324,761

  • 25 · Other liabilities

    beginning of year $896,128 · end of year $972,025

  • 27 · Net assets without donor restrictions

    beginning of year $4,352,721 · end of year $4,939,881

Mission and programs · 2022

Mission

THE CORPORATION IS FORMED TO:1) PURCHASE, CONSTRUCT, REHABILITATE, OWN, REPAIR, MAINTAIN, LEASE AND RELEASE HOUSING IN BLIGHTED OR ECONOMICALLY OR SOCIALLY DEPRESSED AREAS OF THE COUNTY OF LANCASTER, PENNSYLVANIA.2) LESSEN THE BURDENS OF GOVERNMENT BY MAKING DECENT, AFFORDABLE HOUSING AVAILABLE IN AREAS WHERE GOVERNMENT AND PROFIT-MAKING BUSINESSES TRADITIONALLY HAVE FAILED TO DO SO AND TO PROVIDE SUCH HOUSING ON A NON-PROFIT BASIS AND WHEREVER ECONOMICALLY POSSIBLE, AT RENTS BELOW MARKET RATES AND AT PRICES AFFORDABLE TO LOW AND MODERATE INCOME PERSONS3) TO ENCOURAGE COMMUNITY IMPROVEMENT AND TO PROVIDE TRAINING AND INCREASED EMPLOYMENT OPPORTUNITIES FOR ECONOMICALLY AND SOCIALLY DISADVANTAGED MEMBERS OF LOW AND MODERATE INCOME FAMILIES, AND4) IN FURTHERANCE OF THE FOREGOING, TO DO ALL OTHER ACTIVITIES AND THINGS WHICH NON-PROFIT CORPORATIONS ARE LEGALLY AUTHORIZED TO DO.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING OPTIONS TO LOW TO MODERATE INCOME FAMILIES.

  • SACA DEVELOPMENT HAS EXPANDED OUR WORKFORCE DEVELOPMENT EFFORTS, NOW AT 2 LOCATIONS: TEC CENTRO EAST AND TEC CENTRO SOUTHWEST. THE TEC CENTRO SOUTHWEST FACILITY RECEIVED NEW MARKET TAX CREDITS FOR THE ORGANIZATION TO COMPLETE A TOTAL RENOVATION OF THE FACILITY. CLASSES ARE IN PROGRESS AND EMPLOYERS ARE FINDING NEW, WELL-TRAINED EMPLOYEES.THE SECOND PHASE OF OUR AFFORDABLE HOUSING PROJECT WAS COMPLETED ON JUNE 30, 2023, WITH THE NINE NEWLY CONSTRUCTED HOMES SOLD TO FIRST TIME QUALIFIED BUYERS. WE ALSO CONTINUE TO REHABILITATE SCATTERED SITE HOMES THROUGHOUT THE CITY TO SELL TO LOW TO MODERATE INCOME HOMEBUYERS.OUR PROJECT, SOUTH DUKE PLAZA, CONTINUES TO BE IN THE PRE-DEVELOPMENT PHASE BUT WHEN COMPLETED WILL PROVIDE ONE STANDALONE BANK BRANCH AND A FOUR-STORY MIXED USE BUILDING WITH RETAIL AND PROFESSIONAL OFFICES ON THE GROUND LEVEL WITH THE 2ND, 3RD AND 4TH LEVELS CONSISTING OF 48 APARTMENTS LOCATED WITHIN THE SOUTHEAST AREA OF THE CITY.

    Expenses $4,644,881 · Revenue $1,114,009

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carlos Graupera

    CEO(UNTIL 6/23)/BOARD MEMBER

    Total calculated
    $169,056
    From this org
    $64,235
    From related orgs
    $64,235
    Other
    $40,586
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $64,235 + $64,235 related
    Bonus
    $0
    Other
    $0
    Deferred
    $15,930 + $15,931 related
    Nontaxable benefits
    $4,362 + $4,363 related
    Filer's total
    $84,527 + $84,529 related

  • Jodie Richardson

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Ted Darcus

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Robert Frankhouser Jr

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Miriam Ortega

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Gladys Delgado

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Dario Sanchez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Albert Gonzalez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jim Kline

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Melanie Batista

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Rosa Graupera

    CHIEF FINANCIAL OFFICER

    Total calculated
    $129,366
    From this org
    $0
    From related orgs
    $115,960
    Other
    $13,406
    Hours/week
    5 + 35 related

  • Jose R Lopez

    PRESIDENT

    Total calculated
    $156,152
    From this org
    $70,816
    From related orgs
    $70,816
    Other
    $14,520
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $70,816 + $70,816 related
    Bonus
    $0
    Other
    $0
    Deferred
    $2,832 + $2,833 related
    Nontaxable benefits
    $4,427 + $4,428 related
    Filer's total
    $78,075 + $78,077 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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

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.

  • SPANISH AMERICAN CIVIC ASSOCIATION FOR EQUALITY INC

    501(C)(3) · PROVIDES SERVICES TO MINORITIES AND LOW INCOME FAMILIES IN LANCASTER, PA · PA

  • CENTRO LANCASTER LTD

    501(C)(3) · AID THE DEVELOPMENT OF CONESTOGA RIVER PLAZA · PA · controlled entity

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • TEC CENTRO LTD

    501(C)(3) · DEVELOP AND OPERATE A BILINGUAL TECHNICAL TRAINING SCHOOL · PA · controlled entity

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • TEC CENTRO FOUNDATION

    501(C)(3) · SUPPORTING ORGANIZATION TO SACA · PA

    Directly controlled by SACA

  • TEC CENTRO WORKFORCE NETWORK

    501(C)(3) · WORKFORCE TRAINING CENTER · PA · controlled entity

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

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.

  • CONESTOGA PLAZA LP

    OWNS PROPERTY FOR DEVELOPMENT · PA · income -$86,638 · assets $5,691,697

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • CONESTOGA PLAZA DEVELOPMENT LLC

    GENERAL PARTNER IN CONESTOGA PLAZA, L.P. · PA · income -$86,638 · assets $2,473,022

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • CONESTOGA NORTH LLC

    REAL ESTATE INVESTMENT · PA · income $58,992 · assets $558,624

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • TEC CENTRO SOUTHWEST LTD

    MULTILINGUAL TRAINING · PA · income -$176,699 · assets $7,563,101

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • DUKE STREET PLAZA LLC

    REAL ESTATE INVESTMENT · PA · income -$131,371 · assets $860,242

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • TEC CENTRO SERVICES

    MULTILINGUAL TRAINING · PA · income $67,929 · assets $5,537,643

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

Related partnerships

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

  • THE APARTMENTS AT GENERAL CIGAR PLACE

    RELATED · 30 UNIT APARTMENT BUILDING · PA · 0.01% owned · share of income -$180,483 · share of assets $1,273,345

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

  • THE SHOPS AT GENERAL CIGAR PLACE

    RELATED · RENTING COMMERCIAL SPACE TO NON-PROFIT ENTITIES · PA · 0.01% owned · share of income $13,999 · share of assets $958,762

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GENERAL CIGAR PLACE INC

    C · PROPERTY MANAGEMENT · PA · 100% owned · share of income -$166,484 · share of assets $184,327 · controlled entity

    Directly controlled by SACA DEVELOPMENT CORPORATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202401349349304700

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