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Nonprofiteer
← CORNERSTONE FOLSOM GARDENS CORPORATION II

Form 990 for tax year 2024

Filed by CORNERSTONE FOLSOM GARDENS CORPORATION II.

Totals

Total revenue
$599,429
Total expenses
$581,151
Contributions and grants received
$364,617
Grants paid
$0
Program service revenue
$229,899
Investment income
$249
Other revenue
$4,664
Total assets, end of year
$1,394,434
Total liabilities, end of year
$91,495
Net assets or fund balances, end of year
$1,302,939
Program services expenses (Part IX)
$567,562
Management and general expenses
$13,589
Fundraising expenses
$0
Program service expenses (Part III)
$567,562

Program services were 97.7% 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.

  • 1e · Government grants (contributions)

    $364,617

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $229,899 · related or exempt $229,899

  • 3 · Investment income

    total $249 · excluded $249

  • 11a · Other revenue: LAUNDRY AND VENDING

    total $3,957 · related or exempt $3,957

  • 11d · All other revenue

    total $707 · related or exempt $707

  • 11e · Other revenue, total

    $4,664

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $42,798 · program services $42,798

  • 11b · Fees: legal

    total $8,711 · program services $8,711

  • 11c · Fees: accounting

    total $13,589 · management and general $13,589

  • 11g · Fees: other

    total $154,324 · program services $154,324

  • 13 · Office expenses

    total $12,867 · program services $12,867

  • 16 · Occupancy

    total $239,082 · program services $239,082

  • 19 · Conferences, conventions and meetings

    total $268 · program services $268

  • 22 · Depreciation, depletion and amortization

    total $69,289 · program services $69,289

  • 24a · Other expenses: RESIDENT SERVICES

    total $22,702 · program services $22,702

  • 24b · Other expenses: BAD DEBTS

    total $17,301 · program services $17,301

  • 24c · Other expenses: TAXES/LICENSES/PERMITS

    total $220 · program services $220

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $300 · end of year $35,265

  • 2 · Savings and temporary cash investments

    beginning of year $6,758

  • 4 · Accounts receivable

    beginning of year $28,970 · end of year $1,953

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,429 · end of year $16,326

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

    $2,844,827

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

    $1,792,926

  • 10c · Land, buildings and equipment, net

    beginning of year $1,058,305 · end of year $1,051,901

  • 15 · Other assets

    beginning of year $250,032 · end of year $288,989

  • 17 · Accounts payable and accrued expenses

    beginning of year $62,014 · end of year $77,675

  • 19 · Deferred revenue

    beginning of year $4,190 · end of year $2,423

  • 21 · Escrow or custodial account liability

    beginning of year $9,929 · end of year $11,397

  • 27 · Net assets without donor restrictions

    beginning of year $1,284,661 · end of year $1,302,939

Mission and programs · 2024

Mission

CORNERSTONE FOLSOM GARDENS CORPORATION II IS A NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF CALIFORNIA FOR THE PURPOSE OF ACQUIRING AND OPERATING A 48 UNIT APARTMENT COMMUNITY KNOWN AS FOLSOM GARDENS APARTMENTS II LOCATED IN FOLSOM, CALIFORNIA.

  • CORNERSTONE FOLSOM GARDENS CORPORATION II IS A NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF CALIFORNIA FOR THE PURPOSE OF ACQUIRING AND OPERATING A 48 UNIT APARTMENT COMMUNITY KNOWN AS FOLSOM GARDENS APARTMENTS II LOCATED IN FOLSOM, CALIFORNIA.

    Expenses $567,562 · Revenue $234,563

As filed on the 2024 return.

Listed in Part VII

  • LILLIAN LEW-HAILER

    DIRECTOR

    Total calculated
    $257,735
    From this org
    $0
    From related orgs
    $237,092
    Other
    $20,643
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,092 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,585 related
    Nontaxable benefits
    $0 + $11,058 related
    Filer's total
    $0 + $257,735 related

  • JANET RUGGIERO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • ALVIN TUVILLA

    VICE PRESIDENT

    Total calculated
    $186,256
    From this org
    $0
    From related orgs
    $174,260
    Other
    $11,996
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $174,260 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,472 related
    Nontaxable benefits
    $0 + $1,524 related
    Filer's total
    $0 + $186,256 related

  • AMY BAYLEY

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 40 related

  • CHAD PAYNE

    TREASURER

    Total calculated
    $211,480
    From this org
    $0
    From related orgs
    $201,515
    Other
    $9,965
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,015 related
    Bonus
    $0 + $3,500 related
    Other
    $0
    Deferred
    $0 + $9,137 related
    Nontaxable benefits
    $0 + $828 related
    Filer's total
    $0 + $211,480 related

  • DOUG SHOEMAKER

    PRESIDENT

    Total calculated
    $317,896
    From this org
    $0
    From related orgs
    $295,887
    Other
    $22,009
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $290,887 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $13,240 related
    Nontaxable benefits
    $0 + $8,769 related
    Filer's total
    $0 + $317,896 related

  • ED HOLDER

    VICE PRESIDENT

    Total calculated
    $310,484
    From this org
    $0
    From related orgs
    $264,789
    Other
    $45,695
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $263,789 related
    Bonus
    $0 + $1,000 related
    Other
    $0
    Deferred
    $0 + $16,648 related
    Nontaxable benefits
    $0 + $29,047 related
    Filer's total
    $0 + $310,484 related

  • ELIZABETH KUWADA

    VICE PRESIDENT

    Total calculated
    $227,467
    From this org
    $0
    From related orgs
    $204,128
    Other
    $23,339
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $203,498 related
    Bonus
    $0 + $630 related
    Other
    $0
    Deferred
    $0 + $10,381 related
    Nontaxable benefits
    $0 + $12,958 related
    Filer's total
    $0 + $227,467 related

  • ERIKA VILLABLANCA

    VICE PRESIDENT

    Total calculated
    $212,565
    From this org
    $0
    From related orgs
    $183,659
    Other
    $28,906
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $183,029 related
    Bonus
    $0 + $630 related
    Other
    $0
    Deferred
    $0 + $11,353 related
    Nontaxable benefits
    $0 + $17,553 related
    Filer's total
    $0 + $212,565 related

  • JOE ROSENBLUM

    SECRETARY

    Total calculated
    $242,964
    From this org
    $0
    From related orgs
    $232,582
    Other
    $10,382
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,582 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $9,554 related
    Nontaxable benefits
    $0 + $828 related
    Filer's total
    $0 + $242,964 related

  • MELISSA CLAYTON

    VICE PRESIDENT

    Total calculated
    $308,489
    From this org
    $0
    From related orgs
    $273,011
    Other
    $35,478
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $263,011 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $16,578 related
    Nontaxable benefits
    $0 + $18,900 related
    Filer's total
    $0 + $308,489 related

  • RAMIE DARE

    VICE PRESIDENT

    Total calculated
    $258,451
    From this org
    $0
    From related orgs
    $236,287
    Other
    $22,164
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $235,657 related
    Bonus
    $0 + $630 related
    Other
    $0
    Deferred
    $0 + $11,007 related
    Nontaxable benefits
    $0 + $11,157 related
    Filer's total
    $0 + $258,451 related

  • RICK SPRAGUE

    VICE PRESIDENT

    Total calculated
    $190,380
    From this org
    $0
    From related orgs
    $174,870
    Other
    $15,510
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $174,870 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,543 related
    Nontaxable benefits
    $0 + $11,967 related
    Filer's total
    $0 + $190,380 related

  • TIMOTHY DUNN

    VICE PRESIDENT

    Total calculated
    $208,531
    From this org
    $0
    From related orgs
    $174,531
    Other
    $34,000
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,901 related
    Bonus
    $0 + $630 related
    Other
    $0
    Deferred
    $0 + $11,113 related
    Nontaxable benefits
    $0 + $22,887 related
    Filer's total
    $0 + $208,531 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
ANNUALLY THE EXECUTIVE COMMITTEE WITHIN THE MERCY HOUSING, INC. BOARD OF TRUSTEES WILL REVIEW EXECUTIVE SALARIES TO ENSURE COMPETITIVENESS WITH EXTERNAL MARKETS AND FOR INTERNAL EQUITY IN RELATION TO GENERAL EMPLOYEE WAGES AND BENEFITS, INDIVIDUAL AND ORGANIZATIONAL PERFORMANCE, AND THE FINANCIAL RESOURCES OF THE ORGANIZATION.

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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202543199349301019

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