Montecedro Inc
- Assets
- $191.1m
- Revenue
- $26.0m
- Investments
- $967.0k
- Employees
- 174
- Location
- Monrovia, CA
- Founding
- 06/2010
- Data as of
- 06/2021
- EIN
- 27-0707394
Organization Overview
Montecedro Inc is located in Monrovia, CA. The organization was established in 2010. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Montecedro Inc employed 174 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montecedro Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Montecedro Inc generated $26.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 46.4% each year . All expenses for the organization totaled $23.2m during the year ending 06/2021. While expenses have increased by 9.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MONTECEDRO, INC. (MCINC) OPERATES HOUSING SPECIALLY DESIGNED FOR OLDER ADULTS, WITH ARRANGEMENTS FOR RESIDENTS' HEALTH CARE AND FINANCIAL SECURITY, AND OTHERWISE PROMOTE THE INTEREST AND SERVE THE NEEDS OF OLDER ADULTS, PROVIDED THAT SUCH ACTIVITIES ARE CONSISTENT WITH ITS EXEMPT PURPOSES. MCINC OPERATES A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) IN ALTADENA, CALIFORNIA (MONTECEDRO) CONSISTING OF RESIDENTIAL AND ASSISTED LIVING. MCINC IS ORGANIZED AS A NONPROFIT CORPORATION UNDER THE GENERAL NONPROFIT CORPORATION LAWS OF THE STATE OF CALIFORNIA. MONTECEDRO OPENED DECEMBER 16, 2015.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MC INC. WAS CREATED TO OPERATE HOUSING SPECIALLY DESIGNED FOR OLDER ADULTS, WITH ARRANGEMENTS FOR RESIDENT'S HEALTH CARE AND FINANCIAL SECURITY, AND OTHERWISE TO PROMOTE THE INTEREST AND SERVE THE NEEDS OF OLDER ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Weidert Executive Director | Officer | 40 | $290,661 |
Kristine Hillary Director Of Resident Healt | 40 | $126,078 | |
Ruben Alvarado Marketing-Sales | 40 | $120,022 | |
James S Rothrock President & CEO | OfficerTrustee | 15 | $0 |
Tim Hartley Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Gwen Whitson Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corpuz Pineda Staffing Services Inc Contract Labor | 6/29/21 | $1,497,864 |
Morrison Community Living Catering | 6/29/21 | $1,363,874 |
Perkins Eastman Architects Pc Construction | 6/29/21 | $328,045 |
New Image Landscaping Contract Services | 6/29/21 | $139,478 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $13,704 |
| Government grants | $1,095,818 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,109,522 |
| Total Program Service Revenue | $18,519,625 |
| Investment income | $1,210,394 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,626 |
| Net Gain/Loss on Asset Sales | $4,796,269 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,965,819 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $266,970 |
| Compensation of current officers, directors, key employees. | $214,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,312,891 |
| Pension plan accruals and contributions | $375,159 |
| Other employee benefits | $867,293 |
| Payroll taxes | $1,138,383 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,563 |
| Fees for services: Accounting | $37,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,058 |
| Fees for services: Other | $3,402,641 |
| Advertising and promotion | $90,809 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,999 |
| Travel | $4,098 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $578,981 |
| Interest | $2,096,739 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,242,409 |
| Insurance | $350,439 |
| All other expenses | $957,184 |
| Total functional expenses | $23,192,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,664,046 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $267,644 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $112,341 |
| Prepaid expenses and deferred charges | $194,681 |
| Net Land, buildings, and equipment | $137,266,067 |
| Investments—publicly traded securities | $42,795,116 |
| Investments—other securities | $966,992 |
| Investments—program-related | $0 |
| Intangible assets | $2,414,117 |
| Other assets | $4,426,430 |
| Total assets | $191,107,434 |
| Accounts payable and accrued expenses | $1,641,915 |
| Grants payable | $0 |
| Deferred revenue | $128,628,790 |
| Tax-exempt bond liabilities | $45,594,164 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,074,581 |
| Total liabilities | $176,939,450 |
| Net assets without donor restrictions | $14,003,334 |
| Net assets with donor restrictions | $164,650 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $191,107,434 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montecedro Inc has recieved totaling $13,704.
| Awarding Organization | Amount |
|---|---|
Episcopal Communities & Services Foundation Monrovia, CA PURPOSE: TO PROVIDE BENEVOLENCE SUPPORT, CAPITAL SUPPORT, AND PROGRAM SERVICE FUNDS. | $13,704 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Jewish Home And Senior Living Foundation San Francisco, CA | $68,076,852 | $10,222,778 |
Destination Home Sv Mountain View, CA | $71,636,859 | $46,349,546 |
Montecedro Inc Monrovia, CA | $191,107,434 | $25,965,819 |
Irvine Campus Housing Authority Irvine, CA | $90,291,490 | $26,674,526 |
Jewish Senior Living Group San Francisco, CA | $2,756,319 | $9,175,842 |
Mmm East Inc San Francisco, CA | $118,949,023 | $7,931,673 |
Covia Foundation Glendale, CA | $0 | $7,791,148 |
Housing Promise Corporation Los Angeles, CA | $717,273 | $717,273 |
Claremont Investment Management Company Claremont, CA | $1,000 | $4,500,473 |
Bridge Community Impact San Francisco, CA | $8,316,284 | $4,579,229 |
Cedarsinai Park Foundation Portland, OR | $11,831,059 | $2,143,357 |
Bethany Center Foundation Of San Francisco Walnut Creek, CA | $0 | $0 |