Floral Gardens Apartments Inc
- Assets
- $1.9m
- Revenue
- $552.1k
- Investments
- $0.0
- Employees
- 0
- Location
- San Rafael, CA
- Founding
- 05/1995
- Data as of
- 03/2022
- EIN
- 68-0371265
Organization Overview
Floral Gardens Apartments Inc is located in San Rafael, CA. The organization was established in 1995. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Floral Gardens Apartments 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 03/2022, Floral Gardens Apartments Inc generated $552.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $642.1k during the year ending 03/2022. While expenses have increased by 5.5% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW-INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES 56 UNITS OF LOW-INCOME HOUSING IN SELMA, CALIFORNIA UNDER SECTION 236 OF THE NATIONAL HOUSING ACT. THIS PROPERTY IS REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Farrel Secretary/treas | OfficerTrustee | 0.1 | $0 |
Blanca Castilleja Vice President | OfficerTrustee | 0.1 | $0 |
Robert Schraeger President | OfficerTrustee | 0.1 | $0 |
Micaela Prince Director | Trustee | 0.1 | $0 |
Maria Meza Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $130,078 |
| 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 | $130,078 |
| Total Program Service Revenue | $421,863 |
| Investment income | $165 |
| 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 | $552,106 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $140,088 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,267 |
| Payroll taxes | $8,316 |
| Fees for services: Management | $54,432 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,384 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,000 |
| Advertising and promotion | $1,068 |
| Office expenses | $18,399 |
| Information technology | $8,440 |
| Royalties | $0 |
| Occupancy | $230,923 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $521 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $116,802 |
| Insurance | $264 |
| All other expenses | $0 |
| Total functional expenses | $642,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,088 |
| Savings and temporary cash investments | $127,059 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,909 |
| 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 | $7,524 |
| Net Land, buildings, and equipment | $1,760,347 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,937,927 |
| Accounts payable and accrued expenses | $18,428 |
| Grants payable | $0 |
| Deferred revenue | $10,053 |
| 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 | $220,823 |
| Total liabilities | $249,304 |
| Net assets without donor restrictions | $1,688,623 |
| 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 | $1,937,927 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Episcopal Communities & Services For Seniors Monrovia, CA | $210,406,101 | $54,393,007 |
Area Housing Authority Of County Of Ventura Newbury Park, CA | $51,199,286 | $45,374,355 |
Eah Inc San Rafael, CA | $269,353,281 | $53,747,905 |
Tenderloin Neighborhood Development Corporation San Francisco, CA | $105,200,928 | $42,280,090 |
Eden Housing Inc Hayward, CA | $420,059,670 | $90,990,309 |
Midpen Housing Corporation Foster City, CA | $279,122,902 | $50,937,724 |
Cesar Chavez Foundation Keene, CA | $206,528,631 | $52,041,546 |
Pico-Union Housing Corporation Los Angeles, CA | $136,637,775 | $17,120,613 |
Northwest Housing Alternatives Inc Milwaukie, OR | $66,415,282 | $18,428,543 |
Burbank Housing Development Corporation Santa Rosa, CA | $103,460,619 | $16,261,747 |
Coachella Valley Housing Coalition Indio, CA | $146,778,624 | $17,127,596 |
Community Corporation Of Santa Monica Santa Monica, CA | $197,338,615 | $17,598,823 |