Linc Housing Corporation
- Assets
- $234.6m
- Revenue
- $19.7m
- Investments
- $1.3m
- Employees
- 147
- Location
- Long Beach, CA
- Founding
- 01/1995
- Data as of
- 12/2023
- EIN
- 33-0578620
Organization Overview
Linc Housing Corporation is located in Long Beach, CA. The organization was established in 1995. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Linc Housing Corporation employed 147 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Linc Housing 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 12/2023, Linc Housing Corporation generated $19.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $23.7m during the year ending 12/2023. While expenses have increased by 11.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LINC HOUSING CORPORATION IS A NONPROFIT ORGANIZATION THAT BUILDS, OWNS AND OPERATES AFFORDABLE HOUSING FOR SENIORS AND FAMILIES THROUGHOUT CALIFORNIA. LINC ALSO OFFERS ITS RESIDENTS LIFE-ENHANCING SERVICES THROUGH THE LINC CARES PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LINC HOUSING CORPORATION IS A NONPROFIT ORGANIZATION THAT BUILDS, OWNS AND OPERATES AFFORDABLE HOUSING FOR SENIORS AND FAMILIES THROUGHOUT CALIFORNIA. LINC IS COMMITTED TO CREATING AND PRESERVING HOUSING THAT IS AFFORDABLE, ENVIRONMENTALLY SUSTAINABLE, AND A CATALYST FOR COMMUNITY IMPROVEMENT.
LINC HOUSING CORPORATION OFFERS ITS RESIDENTS LIFE-ENHANCING SERVICES THROUGH THE LINC CARES PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca F Clark CEO | Officer | 36 | $512,290 |
Suny Chang President & COO | Officer | 36 | $450,953 |
Mary Moore CFO | Officer | 36 | $299,294 |
Anders Plett SVP Of Devel | Officer | 36 | $251,465 |
Benjamin Winter SVP Bus Develop | Officer | 36 | $246,470 |
James Aliberti Sr Vice Pres. | Officer | 36 | $231,019 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rdc-s111 Inc Construction | 12/30/23 | $462,698 |
Torti Gallas And Partners Inc Construction | 12/30/23 | $337,983 |
Holthouse Carlin & Van Trigt Llp Accounting | 12/30/23 | $457,489 |
Kfa Llp Construction | 12/30/23 | $387,041 |
Robert Half Finance & Accounting Accounting | 12/30/23 | $257,082 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $116,835 |
| Related organizations | $406,874 |
| Government grants | $1,300,028 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,197,501 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,021,238 |
| Total Program Service Revenue | $13,739,049 |
| Investment income | $995,802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,733 |
| Net Income from Fundraising Events | -$14,599 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,739,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| 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. | $3,588,620 |
| Compensation of current officers, directors, key employees. | $1,303,807 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,894,753 |
| Pension plan accruals and contributions | $233,943 |
| Other employee benefits | $937,681 |
| Payroll taxes | $722,421 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $446,614 |
| Fees for services: Lobbying | $2,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $816,622 |
| Advertising and promotion | $80,831 |
| Office expenses | $338,700 |
| Information technology | $689,313 |
| Royalties | $0 |
| Occupancy | $6,647 |
| Travel | $127,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,699 |
| Interest | $339,952 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $858,508 |
| Total functional expenses | $23,713,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,006,161 |
| Savings and temporary cash investments | $5,142,352 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,764,064 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $71,643,857 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $155,314 |
| Net Land, buildings, and equipment | $3,948,177 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,340,735 |
| Investments—program-related | $124,990,433 |
| Intangible assets | $0 |
| Other assets | $16,582,021 |
| Total assets | $234,573,114 |
| Accounts payable and accrued expenses | $1,723,444 |
| Grants payable | $0 |
| Deferred revenue | $17,985,343 |
| 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 | $33,145,779 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $79,827,807 |
| Total liabilities | $132,682,373 |
| Net assets without donor restrictions | $100,390,741 |
| Net assets with donor restrictions | $1,500,000 |
| 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 | $234,573,114 |