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Nonprofiteer
← CENTURY AFFORDABLE DEVELOPMENT INC

Form 990 for tax year 2023

Filed by CENTURY AFFORDABLE DEVELOPMENT INC.

Totals

Total revenue
$15,866,369
Total expenses
$4,041,722
Contributions and grants received
$7,803,750
Grants paid
$0
Program service revenue
$7,265,322
Investment income
$797,297
Other revenue
$0
Total assets, end of year
$70,393,648
Total liabilities, end of year
$12,488,634
Net assets or fund balances, end of year
$57,905,014
Program services expenses (Part IX)
$3,757,499
Management and general expenses
$284,223
Fundraising expenses
$0
Program service expenses (Part III)
$3,757,499

Program services were 93.0% 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)

    $7,803,750

  • 2a · Program service revenue: DEVELOPER FEE INCOME

    total $6,950,807 · related or exempt $6,950,807

  • 2b · Program service revenue: MANAGEMENT FEE

    total $137,853 · related or exempt $137,853

  • 2c · Program service revenue: GROSS POTENTIAL RENT - COMMERCIAL

    total $115,665 · related or exempt $115,665

  • 2d · Program service revenue: OTHER INCOME

    total $60,997 · related or exempt $60,997

  • 3 · Investment income

    total $797,297 · excluded $797,297

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,531,257 · program services $2,531,257

  • 9 · Other employee benefits

    total $830,622 · program services $830,622

  • 11c · Fees: accounting

    total $36,700 · management and general $36,700

  • 11g · Fees: other

    total $41,350 · program services $41,350

  • 12 · Advertising and promotion

    total $11,231 · program services $11,231

  • 13 · Office expenses

    total $247,523 · management and general $247,523

  • 17 · Travel

    total $15,147 · program services $15,147

  • 20 · Interest

    total $186,865 · program services $186,865

  • 22 · Depreciation, depletion and amortization

    total $16,441 · program services $16,441

  • 23 · Insurance

    total $24,703 · program services $24,703

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $38,542 · program services $38,542

  • 24b · Other expenses: TAXES

    total $25,080 · program services $25,080

  • 24c · Other expenses: TELECOMMUNICATIONS

    total $18,705 · program services $18,705

  • 24d · Other expenses: UTILITIES

    total $4,418 · program services $4,418

  • 24e · All other expenses

    total $13,138 · program services $13,138

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $67,699 · end of year $30,040

  • 2 · Savings and temporary cash investments

    beginning of year $1,784,094 · end of year $7,554,413

  • 4 · Accounts receivable

    beginning of year $295,561 · end of year $3,087,521

  • 7 · Other notes and loans receivable

    beginning of year $32,599,942 · end of year $34,234,086

  • 9 · Prepaid expenses and deferred charges

    beginning of year $147,589 · end of year $147,469

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

    $2,084,621

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

    $59,187

  • 10c · Land, buildings and equipment, net

    beginning of year $1,977,900 · end of year $2,025,434

  • 13 · Investments: program-related

    beginning of year $5,260,443 · end of year $5,636,000

  • 15 · Other assets

    beginning of year $12,924,749 · end of year $17,678,685

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,151,517 · end of year $1,406,998

  • 25 · Other liabilities

    beginning of year $7,826,093 · end of year $11,081,636

  • 27 · Net assets without donor restrictions

    beginning of year $46,080,367 · end of year $48,301,264

  • 28 · Net assets with donor restrictions

    end of year $9,603,750

Mission and programs · 2023

Mission

TO ACQUIRE AND DEVELOP REAL PROPERTY AS AFFORDABLE HOUSING.

  • THE ORGANIZATION ACQUIRED AND SOLD PROPERTIES TO MAINTAIN AFFORDABLE HOUSING

    Expenses $3,757,499 · Revenue $7,265,322

As filed on the 2023 return.

Listed in Part VII

  • Ronald Griffith

    VICE PRESIDENT

    Total calculated
    $590,972
    From this org
    $0
    From related orgs
    $521,853
    Other
    $69,119
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $387,985 related
    Bonus
    $0 + $94,997 related
    Other
    $0 + $38,871 related
    Deferred
    $0 + $32,082 related
    Nontaxable benefits
    $0 + $37,037 related
    Filer's total
    $0 + $590,972 related

  • Alan Hoffman

    DIRECTOR

    Total calculated
    $512,254
    From this org
    $0
    From related orgs
    $449,974
    Other
    $62,280
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,481 related
    Bonus
    $0 + $80,607 related
    Other
    $0 + $22,886 related
    Deferred
    $0 + $25,258 related
    Nontaxable benefits
    $0 + $37,022 related
    Filer's total
    $0 + $512,254 related

  • Brian Nicholas Dandrea

    PRESIDENT

    Total calculated
    $460,780
    From this org
    $0
    From related orgs
    $397,219
    Other
    $63,561
    Hours/week
    19.5 + 20.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $318,440 related
    Bonus
    $0 + $77,969 related
    Other
    $0 + $810 related
    Deferred
    $0 + $28,392 related
    Nontaxable benefits
    $0 + $35,169 related
    Filer's total
    $0 + $460,780 related

  • Oscar Alvarado

    VICE PRESIDENT

    Total calculated
    $383,583
    From this org
    $0
    From related orgs
    $328,156
    Other
    $55,427
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,110 related
    Bonus
    $0 + $50,116 related
    Other
    $0 + $12,930 related
    Deferred
    $0 + $26,231 related
    Nontaxable benefits
    $0 + $29,196 related
    Filer's total
    $0 + $383,583 related

  • Karen Bennett-Green

    VICE PRESIDENT

    Total calculated
    $261,429
    From this org
    $0
    From related orgs
    $217,195
    Other
    $44,234
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $177,859 related
    Bonus
    $0 + $31,920 related
    Other
    $0 + $7,416 related
    Deferred
    $0 + $16,782 related
    Nontaxable benefits
    $0 + $27,452 related
    Filer's total
    $0 + $261,429 related

  • Howard Chan

    VICE PRESIDENT & CFO

    Total calculated
    $304,070
    From this org
    $0
    From related orgs
    $253,399
    Other
    $50,671
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,960 related
    Bonus
    $0 + $38,883 related
    Other
    $0 + $8,556 related
    Deferred
    $0 + $20,285 related
    Nontaxable benefits
    $0 + $30,386 related
    Filer's total
    $0 + $304,070 related

  • Steven Colman

    VICE PRESIDENT

    Total calculated
    $301,647
    From this org
    $0
    From related orgs
    $257,099
    Other
    $44,548
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $162,472 related
    Bonus
    $0 + $48,000 related
    Other
    $0 + $46,627 related
    Deferred
    $0 + $20,489 related
    Nontaxable benefits
    $0 + $24,059 related
    Filer's total
    $0 + $301,647 related

  • Beulah Ku

    CORPORATE SECRETARY

    Total calculated
    $223,781
    From this org
    $0
    From related orgs
    $200,970
    Other
    $22,811
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $158,016 related
    Bonus
    $0 + $30,952 related
    Other
    $0 + $12,002 related
    Deferred
    $0 + $15,694 related
    Nontaxable benefits
    $0 + $7,117 related
    Filer's total
    $0 + $223,781 related

  • Serybrem Bass

    VICE PRESIDENT

    Total calculated
    $172,506
    From this org
    $0
    From related orgs
    $140,329
    Other
    $32,177
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $121,941 related
    Bonus
    $0 + $17,964 related
    Other
    $0 + $424 related
    Deferred
    $0 + $11,190 related
    Nontaxable benefits
    $0 + $20,987 related
    Filer's total
    $0 + $172,506 related

  • Christopher Pope

    SENIOR DEVELOPMENT MANAGER

    Total calculated
    $260,990
    From this org
    $0
    From related orgs
    $235,232
    Other
    $25,758
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,558 related
    Bonus
    $0 + $27,119 related
    Other
    $0 + $9,555 related
    Deferred
    $0 + $13,818 related
    Nontaxable benefits
    $0 + $11,940 related
    Filer's total
    $0 + $260,990 related

  • Jordan Johnson

    SENIOR DEVELOPMENT MANAGER

    Total calculated
    $218,974
    From this org
    $0
    From related orgs
    $191,696
    Other
    $27,278
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,150 related
    Bonus
    $0 + $23,492 related
    Other
    $0 + $54 related
    Deferred
    $0 + $15,347 related
    Nontaxable benefits
    $0 + $11,931 related
    Filer's total
    $0 + $218,974 related

  • Gilbert Gonzales

    SENIOR DEVELOPMENT MANAGER

    Total calculated
    $190,880
    From this org
    $0
    From related orgs
    $165,750
    Other
    $25,130
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $142,547 related
    Bonus
    $0 + $19,492 related
    Other
    $0 + $3,711 related
    Deferred
    $0 + $12,792 related
    Nontaxable benefits
    $0 + $12,338 related
    Filer's total
    $0 + $190,880 related

  • Heather Sharp

    VICE PRESIDENT, PROPERTY OPERATIONS

    Total calculated
    $213,036
    From this org
    $0
    From related orgs
    $191,301
    Other
    $21,735
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,731 related
    Bonus
    $0 + $24,300 related
    Other
    $0 + $270 related
    Deferred
    $0 + $15,283 related
    Nontaxable benefits
    $0 + $6,452 related
    Filer's total
    $0 + $213,036 related

  • Maria Ruiz

    ASSISTANT CONTROLLER

    Total calculated
    $181,541
    From this org
    $0
    From related orgs
    $137,948
    Other
    $43,593
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $119,889 related
    Bonus
    $0 + $17,663 related
    Other
    $0 + $396 related
    Deferred
    $0 + $11,993 related
    Nontaxable benefits
    $0 + $31,600 related
    Filer's total
    $0 + $181,541 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 survey or study
  • 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.

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.

  • CADI VI LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY ARROWHEAD VISTA, LP · CA · income -$8 · assets $59,928

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI VII LLC

    TO ACT AS THE GENERAL PARTNER OF FLORENCE MOREHOUSE, L.P. · CA · income -$104 · assets $9,286,336

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI VIII LLC

    TO ACT AS THE GENERAL PARTNER OF BEACON PLACE, L.P. · CA · income -$70 · assets $777,973

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI IX LLC

    TO ACT AS THE GENERAL PARTNER OF BEACON POINTE, L.P. · CA · income -$180 · assets $12,396,559

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI X LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY BEACHWOOD APARTMENTS, L.P. · CA · income -$54 · assets $4,072,383

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI ELEVEN LLC

    TO ACT AS THE GENERAL PARTNER OF CASA RITA, L.P. · CA · income -$80 · assets $8,077,265

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XII LLC

    TO ACT AS THE GENERAL PARTNER OF WOODBRIDGE APARTMENTS, L.P. · CA · income -$86 · assets $1,624,702

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XIII LLC

    TO ACT AS THE GENERAL PARTNER OF BANNING, LP · CA · income $0 · assets $4,702,539

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XIV LLC

    TO ACT AS THE GENERAL PARTNER OF CITYVIEW, LP · CA · income -$361,843 · assets $16,653,912

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CADI XV LLC

    LOW INCOME HOUSING · CA · income $1,492,693 · assets $12,076,696

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CENTURY WLAVA 1 LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY WLAVA 1, LP · CA · income $0 · assets $6,516,528

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CENTURY WLAVA 2 LLC

    TO ACT AS THE GENERAL PARTNER OF CENTURY WLAVA 2, LP · CA · income $0 · assets $5,329,705

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • CENTURY MOONSTONE LLC

    LOW INCOME HOUSING · CA · income $0 · assets $9,922,362

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

Related partnerships

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

  • 12010 SOUTH VERMONT LLC

    RELATED · TO OWN AND MANAGE AN AFFORDABLE APARTMENT COMMUNITY LOCATED IN LOS ANGELES · CA · 99% owned · share of income -$118,582 · share of assets $2,867,215

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

  • ACADEMY HALL LP

    TO ACQUIRE AND REHABILITATE THE ACADEMY HALL APARTMENTS · CA

  • ANCHOR PLACE LP

    TO OWN AND MANAGE AN AFFORDABLE APARTMENT COMMUNITY LOCATED IN LONG BEACH · CA

  • BEACON PLACE LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · 0.01% owned · share of income -$70 · share of assets $777,973 · general or managing partner

    Directly controlled by CADI VIII LLC

  • BEACON POINTE LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · 0.01% owned · share of income -$180 · share of assets $12,396,559 · general or managing partner

    Directly controlled by CADI IX LLC

  • CABRILLO GATEWAY LP

    TO DEVELOP 80 APARTMENTS (PHASE IV) AT THE LONG BEACH CAMPUS · CA

  • CASA DE CABRILLO LP

    TO DEVELOP A PORTION OF PROPERTY LOCATED IN LONG BEACH, CALIFORNIA · CA

  • CASA RITA LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · share of income -$80 · share of assets $8,077,265 · general or managing partner

    Directly controlled by CADI ELEVEN LLC

  • CENTURY ARROWHEAD VISTA LP

    RELATED · TO OWN A 40 UNIT APARTMENT COMPLEX LOCATED IN SAN BERNARDINO, CALIFORNIA · CA · 0.01% owned · share of income -$8 · share of assets $59,928 · general or managing partner

    Directly controlled by CADI VI LLC

  • CENTURY BEACHWOOD APARTMENTS 2 LP

    RELATED · TO DEVELOP A LOW INCOME HOUSING COMMUNITY LOCATED IN SOUTHERN CALIFORNIA · CA · 0.01% owned · share of income -$54 · share of assets $4,072,383 · general or managing partner

    Directly controlled by CADI X LLC

  • FLORENCE MOREHOUSE LP

    RELATED · TO DEVELOP A PORTION OF PROPERTY LOCATED IN LOS ANGELES, CALIFORNIA · CA · 0.01% owned · share of income -$104 · share of assets $9,286,336 · general or managing partner

    Directly controlled by CADI VII LLC

  • LONG BEACH SAVANNAH HOUSING LP

    TO DEVELOP A PORTION OF PROPERTY LOCATED IN LONG BEACH, CALIFORNIA · CA

  • OSP HARBOR CONNECTION LLC

    TO OWN AND MANAGE AN AFFORDABLE APARTMENT COMMUNITY LOCATED IN SAN PEDRO · CA

  • THE FAMILY COMMONS AT CABRILLO LP

    TO DEVELOP A PORTION OF PROPERTY LOCATED IN LONG BEACH, CALIFORNIA · CA

  • WEST LA VETERANS COLLECTIVE LLC

    CREATING A SUPPORTIVE HOUSING COMMUNITY FOR HOMELESS AND VETERANS IN WEST LA · CA

  • WOODBRIDGE APARTMENTS LP

    RELATED · TO ACQUIRE A PROPERTY INTEREST LOCATED IN LONG BEACH · CA · 0.01% owned · share of income -$86 · share of assets $1,624,702 · general or managing partner

    Directly controlled by CADI XII LLC

  • PLAZA DE CABRILLO LP

    TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA

  • THE COVE LP

    TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA

  • CENTURY ACKERFIELD LLC

    TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA

  • CENTURY CITYVIEW LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 40% owned · share of income -$361,843 · share of assets $16,653,912 · general or managing partner

    Directly controlled by CADI XIV LLC

  • THE BANNING LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 0.01% owned · share of assets $4,702,539 · general or managing partner

    Directly controlled by CADI XIII LLC

  • CENTURY WLAVA 1 LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 0.01% owned · share of assets $6,516,528 · general or managing partner

    Directly controlled by CENTURY WLAVA1 LLC

  • CENTURY WLAVA 2 LP

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 0.01% owned · share of assets $5,329,705 · general or managing partner

    Directly controlled by CENTURY WLAVA2 LLC

  • ONE SAN PEDRO COLLABORATIVE LLC

    RELATED · TO ACQUIRE/DEVELOP A LOW INCOME HOUSING COMMUNITY · CA · 33.33% owned · share of income -$2,565 · share of assets $1,047,663

    Directly controlled by CENTURY AFFORDABLE DEVELOPMENT INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349308326

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