Del Monte Manor Inc
- Assets
- $41.1m
- Revenue
- $1.2m
- Investments
- $47.8k
- Employees
- 0
- Location
- Seaside, CA
- Founding
- 08/1992
- Data as of
- 06/2023
- EIN
- 94-1704977
Organization Overview
Del Monte Manor Inc is located in Seaside, CA. The organization was established in 1992. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Del Monte Manor Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AFFORDABLE HOUSING FOR VERY LOW AND MODERATE INCOME INDIVIDUALS IN THE CITY OF SEASIDE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEL MONTE MANOR'S BOARD COMPLETED WORKING THROUGH THE ADDITIONAL DAILY ISSUES OF A PANDEMIC AND THE FULL PROPERTY RENOVATION OF A $41 MILLION DOLLAR UPGRADE ON THE ENTIRE PROPERTY, DURING COVID 2020-2022. THE BOARD HIRED A CONSULTANT, EMC PLANNING OF MONTEREY, TO ASSIST THE BOARD WITH A FEASIBILITY STUDY TO PURCHASE (AT THAT TIME) A 40 UNIT LOW INCOME HOUSING PROJECT OWNED BY AL GLOVER, A SEASIDE DEVELOPER. THE BOARD IS MOVING FORWARD WITH INCREASING THE SIZE OF THE BOARD TO SEVEN MEMBERS. WE WILL MOVE INTO ACQUIRING OR DEVELOPING A NEW LOW-INCOME PROJECT DURING THE 2024-2025 YEAR, AS WE HAVE AUTHORIZED CONTRACTING WITH A LOCAL REALTOR FOR A SITE LOCATION AND OR AVAILABLE BUILDINGS THAT CAN BE CONVERTED TO LOW-INCOME HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darryl Choates President | OfficerTrustee | 12 | $0 |
Annalisa Mitchell Treasurer | OfficerTrustee | 12 | $0 |
Sandra Gray Secretary | OfficerTrustee | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,665 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,665 |
| Total Program Service Revenue | $0 |
| Investment income | $1,147,849 |
| 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 | $1,153,380 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $0 |
| 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 | $0 |
| Fees for services: Accounting | $5,670 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,848 |
| Fees for services: Other | $420 |
| Advertising and promotion | $0 |
| Office expenses | $35 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $24,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $450,026 |
| Savings and temporary cash investments | $6,477,184 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,578,133 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $28,668,249 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,862,938 |
| Investments—other securities | $47,785 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,062 |
| Total assets | $41,089,377 |
| 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 | $41,089,377 |
| 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 | $41,089,377 |