Fifth Avenue Corporation
- Assets
- $0.0
- Revenue
- $133.2k
- Investments
- $0.0
- Employees
- 0
- Location
- San Diego, CA
- Founding
- 05/1992
- Data as of
- 12/2019
- EIN
- 33-0236377
Organization Overview
Fifth Avenue Corporation is located in San Diego, CA. The organization was established in 1992. According to its NTEE Classification (K30) the organization is classified as: Food Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. Fifth Avenue Corporation 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 12/2019, Fifth Avenue Corporation generated $133.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (40.1%) each year. All expenses for the organization totaled $126.8k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION'S PURPOSE IS TO PROVIDE NEEDY ELDERLY WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING. THE CHARGES FOR SUCH FACILITIES TO BE PREDICATED UPON THE PROVISION, MAINTENANCE AND OPERATION THEREOF ON A NONPROFIT BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIFTH AVENUE CORPORATION, A CA NON PROFIT ORGANIZATION, WAS THE MANAGING GENERAL PARTNER IN TWO LOCAL SENIOR HOUSING PROJECTS: SENIOR FIFTH AVENUE ASSOCIATES/SANFORD HOTEL AND NEW PALACE ASSOCIATES/NEW PALACE HOTEL. THE SANFORD HOTEL RECEIVED SUPPORT AND ASSISTANCE FOR OVER TWENTY-ONE YEARS UNTIL IT SOLD/TRANSFERRED TO HDP, THE NON PROFIT ARM OF THE SAN DIEGO HOUSING COMMISSION, THE PUBLIC HOUSING AUTHORITY FOR THE CITY OF SAN DIEGO IN 2010, THEREBY PRESERVING 130 LOW INCOME ELDERLY RENTAL UNITS FOR AN ADDITIONAL FIFTY YEARS. IN 2016 THE NEW PALACE HOTEL WAS SOLD/TRANSFERRED TO HDP AFTER PROVIDING TWENTY-FIVE YEARS OF SERVICE AND RENTS FOR 80 LOW INCOME ELDERLY UNITS THEREBY EXTENDING LOW INCOME ELDERLY HOUSING FOR AN ADDITIONAL FIFTY-FIVE YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Chelminiak President | OfficerTrustee | 10 | $36,000 |
Manny Lopez Vice President | OfficerTrustee | 10 | $36,000 |
Christopher Morris Secretary | OfficerTrustee | 1 | $0 |
Frances Kilburg Vice President/ CFO | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $109,040 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $109,040 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $109,040 |
| Total Program Service Revenue | $24,180 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $133,221 |
| 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. | $72,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,500 |
| Fees for services: Accounting | $5,556 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,880 |
| Advertising and promotion | $0 |
| Office expenses | $1,168 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,451 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $121 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,744 |
| All other expenses | $0 |
| Total functional expenses | $126,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |