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Nonprofiteer
← ALTA HOUSING

Form 990 for tax year 2022

Filed by ALTA HOUSING.

Totals

Total revenue
$6,709,968
Total expenses
$4,182,690
Contributions and grants received
$3,377,550
Grants paid
$0
Program service revenue
$3,010,095
Investment income
$322,323
Other revenue
$0
Total assets, end of year
$58,235,741
Total liabilities, end of year
$16,417,736
Net assets or fund balances, end of year
$41,818,005
Program services expenses (Part IX)
$3,633,182
Management and general expenses
$549,508
Fundraising expenses
$0
Program service expenses (Part III)
$3,633,182

Program services were 86.9% 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

    $3,377,000

  • 1f · All other contributions, gifts and grants

    $550

  • 2a · Program service revenue: DEVELOPER FEES

    total $1,377,518 · related or exempt $1,377,518

  • 2b · Program service revenue: RENTAL INCOME

    total $971,500 · related or exempt $971,500

  • 2c · Program service revenue: CONSULTING FEES

    total $336,812 · related or exempt $336,812

  • 2d · Program service revenue: OTHER INCOME

    total $130,923 · related or exempt $130,923

  • 2e · Program service revenue: MANAGEMENT FEES

    total $128,278 · related or exempt $128,278

  • 2f · All other program service revenue

    total $65,064 · related or exempt $65,064

  • 3 · Investment income

    total $322,323 · excluded $322,323

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,879,444 · program services $1,597,527 · management and general $281,917

  • 9 · Other employee benefits

    total $387,366 · program services $329,261 · management and general $58,105

  • 10 · Payroll taxes

    total $126,540 · program services $107,559 · management and general $18,981

  • 11a · Fees: management

    total $53,247 · program services $45,260 · management and general $7,987

  • 11b · Fees: legal

    total $7,660 · program services $6,511 · management and general $1,149

  • 11c · Fees: accounting

    total $65,894 · program services $56,010 · management and general $9,884

  • 11g · Fees: other

    total $86,347 · program services $73,394 · management and general $12,953

  • 12 · Advertising and promotion

    total $14,780 · program services $12,563 · management and general $2,217

  • 14 · Information technology

    total $23,023 · program services $19,570 · management and general $3,453

  • 16 · Occupancy

    total $154,681 · program services $131,479 · management and general $23,202

  • 17 · Travel

    total $20,379 · program services $17,322 · management and general $3,057

  • 20 · Interest

    total $182,733 · program services $155,323 · management and general $27,410

  • 22 · Depreciation, depletion and amortization

    total $106,834 · program services $90,809 · management and general $16,025

  • 23 · Insurance

    total $53,954 · program services $45,861 · management and general $8,093

  • 24a · Other expenses: GROUND LEASE

    total $484,293 · program services $484,293

  • 24b · Other expenses: OPERATING & MAINTENANCE

    total $218,611 · program services $185,819 · management and general $32,792

  • 24c · Other expenses: UTILITIES

    total $136,376 · program services $115,920 · management and general $20,456

  • 24d · Other expenses: ADMINISTRATIVE EXPENSE

    total $90,012 · program services $76,510 · management and general $13,502

  • 24e · All other expenses

    total $90,516 · program services $82,191 · management and general $8,325

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,314,431 · end of year $1,721,721

  • 2 · Savings and temporary cash investments

    beginning of year $3,787,235 · end of year $2,264,063

  • 3 · Pledges and grants receivable

    beginning of year $162,971 · end of year $299,062

  • 4 · Accounts receivable

    beginning of year $16,644 · end of year $29,886

  • 7 · Other notes and loans receivable

    beginning of year $1,598,131 · end of year $1,521,202

  • 9 · Prepaid expenses and deferred charges

    beginning of year $118,924 · end of year $114,326

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

    $21,542,569

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

    $1,327,898

  • 10c · Land, buildings and equipment, net

    beginning of year $19,370,170 · end of year $20,214,671

  • 12 · Investments: other securities

    beginning of year $13,212,526 · end of year $12,620,838

  • 13 · Investments: program-related

    beginning of year $203,974 · end of year $269,038

  • 15 · Other assets

    beginning of year $6,101,138 · end of year $19,180,934

  • 17 · Accounts payable and accrued expenses

    beginning of year $231,265 · end of year $9,219

  • 19 · Deferred revenue

    beginning of year $64,348 · end of year $8,231

  • 23 · Secured mortgages and notes payable

    beginning of year $6,321,750 · end of year $5,716,875

  • 25 · Other liabilities

    beginning of year $3,965,995 · end of year $10,683,411

  • 27 · Net assets without donor restrictions

    beginning of year $41,302,786 · end of year $41,818,005

Mission and programs · 2022

Mission

TO FOSTER, DEVELOP, ACQUIRE, REHABILITATE, MANAGE AND OPERATE LOW AND MODERATE-INCOME HOUSING IN PALO ALTO, CA. INCLUDES ACTIVITY OF PAHC HOUSING SERVICES LLC (LIMITED LIABILITY COMPANY), A DISREGARDED ENTITY WHICH PROVIDES CONSULTING SERVICES FOR THE BENEFIT OF LOW-INCOME HOUSING INDIVIDUALS.

Activities or mission (Part I)

FOSTER, DEVELOP, ACQUIRE, REHABILITATE, MANAGE, OPERATE LOW AND MODERATE INCOME HOUSING IN PALO ALTO, CA.

  • FOSTER, DEVELOP, ACQUIRE, REHABILITATE, MANAGE AND OPERATE LOW- AND MODERATE-INCOME HOUSING FOR INDIVIDUALS AND FAMILIES IN PALO ALTO, CA.

    Expenses $3,309,999 · Revenue $2,646,287

  • CONSULTING SERVICES FOR LOW INCOME HOUSING PROGRAMS.

    Expenses $323,183 · Revenue $363,808

As filed on the 2022 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

  • 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

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.

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.

  • 2821 ECR LLC

    LOW INCOME HOUSING · CA · income $99,222 · assets $271,315

    Directly controlled by ALTA HOUSING

  • 950 ECR LLC

    LOW INCOME HOUSING · CA · income $4,172 · assets $249,506

    Directly controlled by ALTA HOUSING

  • AH 1818 ERC LLC

    LOW INCOME HOUSING · CA · income $1,200 · assets $295,628

    Directly controlled by ALTA HOUSING

  • AH 2801 ECR LLC

    LOW INCOME HOUSING · CA

    Directly controlled by ALTA HOUSING

  • AH 2320 ECR LLC

    LOW INCOME HOUSING · CA · assets $5,618,225

    Directly controlled by ALTA HOUSING

  • CALIFORNIA PARK LLC

    LOW INCOME HOUSING · CA · income $970,081 · assets $7,691,505

    Directly controlled by ALTA HOUSING

  • EL CAMINO PROPERTY LLC

    LOW INCOME HOUSING · CA · income $24,941 · assets $61,312

    Directly controlled by ALTA HOUSING

  • PAHC HOUSING SERVICES LLC

    LOW INCOME HOUSING · CA · income $363,906 · assets $389,744

    Directly controlled by ALTA HOUSING

  • TERRA BELLA I LLC

    LOW INCOME HOUSING · CA · income $9,800 · assets $10,631,017

    Directly controlled by ALTA HOUSING

  • TERRA BELLA II LLC

    LOW INCOME HOUSING · CA · assets $7,960,865

    Directly controlled by ALTA HOUSING

Related partnerships

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

  • 1701 ECR LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 0.01% owned · share of income $24,937 · share of assets $1,770,860 · general or managing partner

    Directly controlled by EL CAMINO PROPERTY LLC

  • 2821 EL CAMINO REAL LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 0.01% owned · share of income $125,732 · share of assets $828,357 · general or managing partner

    Directly controlled by 2821 ECR LLC

  • 950 EL CAMINO REAL LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 0.01% owned · share of income $27,523 · share of assets $5,363,303 · general or managing partner

    Directly controlled by 950 ECR LLC

  • AH 2801 ECR LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 99% owned · general or managing partner

    Directly controlled by AH 2801 ECR LLC & ALTA HOUSING

  • ALMA PLACE ASSOCIATES

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC ALMA PLACE INC & PAHC APARTMENTS INC

  • ARASTRADERO PARK LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 1% owned

    Directly controlled by ARASTRADERO PARK APARTMENTS CORP & ALTA HOUSING

  • COLORADO PARK LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by COLORADO PARK HOUSING CORP

  • OAK COURT APARTMENTS LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC PARTNERS LLC & PAHC SHERIDAN APARTMENTS INC

  • SHERIDAN APTS AFFORDABLE HOUSING LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC APARTMENTS INC & PAHC SHERIDAN APARTMENTS INC

  • TERRA BELLA I LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA · 99% owned · share of income -$800 · share of assets $5,968 · general or managing partner

    Directly controlled by TERRA BELLA I LLC

  • TREE HOUSE APARTMENTS LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC CALIFORNIA PARK CORP

  • WEBSTER WOOD APARTMENTS LLC

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by PAHC APARTMENTS INC & PAHC PROPERTIES CORP

  • WILTON ECR LP

    RELATED · AFFORDABLE RENTAL HOUSING · CA

    Directly controlled by WILTON COURT LLC

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202343179349307329

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