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Nonprofiteer
← HIGHLANDS MUTUAL HOUSING CORPORATION INC

Form 990 for tax year 2022

Filed by HIGHLANDS MUTUAL HOUSING CORPORATION INC.

Totals

Total revenue
$1,504,581
Total expenses
$1,684,175
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,067,707
Investment income
$436,874
Other revenue
$0
Total assets, end of year
$17,711,793
Total liabilities, end of year
$9,865,977
Net assets or fund balances, end of year
$7,845,816
Program services expenses (Part IX)
$1,557,407
Management and general expenses
$126,768
Fundraising expenses
$0
Program service expenses (Part III)
$1,557,407

Program services were 92.5% 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 $1,054,255 · related or exempt $1,054,255

  • 2b · Program service revenue: OTHER INCOME

    total $13,452 · related or exempt $13,452

  • 3 · Investment income

    total $93,969 · excluded $93,969

  • 7a · Gross sales of assets other than inventory

    securities $2,256,584

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

    securities $1,913,679

  • 7c · Gain or loss

    securities $342,905

  • 7d · Net gain or loss

    total $342,905 · excluded $342,905

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $170,301 · program services $170,301

  • 9 · Other employee benefits

    total $43,694 · program services $43,694

  • 10 · Payroll taxes

    total $11,523 · program services $11,523

  • 11a · Fees: management

    total $87,480 · management and general $87,480

  • 11b · Fees: legal

    total $22,377 · program services $22,377

  • 11c · Fees: accounting

    total $21,288 · management and general $21,288

  • 11g · Fees: other

    total $18,000 · management and general $18,000

  • 12 · Advertising and promotion

    total $399 · program services $399

  • 13 · Office expenses

    total $47,465 · program services $47,465

  • 17 · Travel

    total $438 · program services $438

  • 20 · Interest

    total $1,056 · program services $1,056

  • 22 · Depreciation, depletion and amortization

    total $549,337 · program services $549,337

  • 23 · Insurance

    total $33,579 · program services $33,579

  • 24a · Other expenses: SOCIAL SERVICES

    total $194,263 · program services $194,263

  • 24b · Other expenses: CONTRACTS

    total $107,913 · program services $107,913

  • 24c · Other expenses: UTILITIES EXP

    total $105,712 · program services $105,712

  • 24d · Other expenses: SUPPLIES

    total $67,575 · program services $67,575

  • 24e · All other expenses

    total $201,775 · program services $201,775

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $185,466 · end of year $135,406

  • 4 · Accounts receivable

    beginning of year $10,368 · end of year $28

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,046 · end of year $21,393

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

    $18,529,445

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

    $6,052,752

  • 10c · Land, buildings and equipment, net

    beginning of year $13,019,087 · end of year $12,476,693

  • 14 · Intangible assets

    beginning of year $33,568 · end of year $26,625

  • 15 · Other assets

    beginning of year $5,207,595 · end of year $5,051,648

  • 17 · Accounts payable and accrued expenses

    beginning of year $77,220 · end of year $123,871

  • 19 · Deferred revenue

    beginning of year $6,078 · end of year $6,296

  • 23 · Secured mortgages and notes payable

    beginning of year $9,665,163 · end of year $9,666,219

  • 25 · Other liabilities

    beginning of year $54,585 · end of year $69,591

  • 27 · Net assets without donor restrictions

    beginning of year $4,472,654 · end of year $4,539,888

  • 28 · Net assets with donor restrictions

    beginning of year $4,198,430 · end of year $3,305,928

Mission and programs · 2022

Mission

TO OPERATE AFFORDABLE RENTAL HOUSING.

  • TO OWN AND OPERATE THE HIGHLANDS APARTMENTS, A 90-UNIT LOW-INCOME AND FORMERLY HOMELESS RENTAL HOUSING PROJECT LOCATED IN NORTH HIGHLANDS, CA.

    Expenses $1,557,407 · Revenue $1,067,707

As filed on the 2022 return.

Listed in Part VII

  • Cathy Creswell

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • Jennifer Higley-Chapman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • Corinne Morrison

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • Tricia Stevens

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • Roberto Jimenez

    CEO

    Total calculated
    $244,650
    From this org
    $0
    From related orgs
    $212,750
    Other
    $31,900
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,750 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,450 related
    Nontaxable benefits
    $0 + $18,450 related
    Filer's total
    $0 + $244,650 related

  • Julie Goldfine

    CFO

    Total calculated
    $211,186
    From this org
    $0
    From related orgs
    $190,498
    Other
    $20,688
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,498 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,700 related
    Nontaxable benefits
    $0 + $8,988 related
    Filer's total
    $0 + $211,186 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
COMPENSATION SURVEY OR STUDY WAS 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.

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.

  • CORNERSTONE NORTH MUTUAL HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • CORNERSTONE SOUTH MUTUAL HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • DAVIS MHA TWIN PINES COMMUNITY ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • FOOTHILL PLAZA HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • LAVENDER HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • LEMON HILL HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • MUTUAL HOUSING 5TH STREET LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • NEW HARMONY LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • NEW HARMONY LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • NORWOOD HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • OWENDALE MUTUAL HOUSING ASSOCIATION LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • OWENDALE MUTUAL HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • PHASE 2 SPRING LAKE MUTUAL HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • RIVER GARDEN HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • SOUTH SACRAMENTO MUTUAL HOUSING LLC

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • SOUTH SACRAMENTO MUTUAL HOUSING LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • SPRING LAKE HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • STOCKTON BOULEVARD HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • VICTORY TRIO MUTUAL HOUSING ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • WONG CENTER AT THE RAILYARD LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • YMHA MOORE VILLAGE ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

  • YMHA TREMONT GREEN ASSOCIATES LP

    PROVIDE AFFORDABLE RENTAL HOUSING · CA

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202343119349304339

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