St Clare Apartments Inc
- Assets
- $8.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Redwood City, CA
- Founding
- 03/1997
- Data as of
- 06/2021
- EIN
- 94-3252567
Organization Overview
St Clare Apartments Inc is located in Redwood City, CA. The organization was established in 1997. 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. St Clare 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 06/2021, St Clare Apartments Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.5% each year . All expenses for the organization totaled $533.8k during the year ending 06/2021. While expenses have increased by 11.6% 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
OWNS & OPERATES 3 BUILDINGS TOTALING 41 UNITS FOR LOW/MODERATE INCOME INDIVIDUALS & FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Pierce Chairman | OfficerTrustee | 1 | $0 |
Lynn Pierce Treasurer | OfficerTrustee | 1 | $0 |
Sue Mitchell Secretary | OfficerTrustee | 1 | $0 |
Anne Putnam Director | Trustee | 1 | $0 |
Hugo Torres Director | Trustee | 1 | $0 |
Kathleen Putnam Director | Trustee | 1 | $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 | $1,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,000,000 |
| Total Program Service Revenue | $663,447 |
| Investment income | $0 |
| 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 | $1,710,585 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,018 |
| Fees for services: Management | $23,480 |
| Fees for services: Legal | $225 |
| Fees for services: Accounting | $2,708 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,690 |
| Advertising and promotion | $0 |
| Office expenses | $132 |
| 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 | $107,775 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $102,268 |
| Insurance | $26,352 |
| All other expenses | $43,606 |
| Total functional expenses | $533,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,864 |
| Savings and temporary cash investments | $68,479 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,275 |
| 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 | $3,507 |
| Net Land, buildings, and equipment | $7,974,245 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,169,370 |
| Accounts payable and accrued expenses | $3,807 |
| 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 | $6,565,313 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,727 |
| Total liabilities | $6,624,847 |
| Net assets without donor restrictions | $1,544,523 |
| 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 | $8,169,370 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that St Clare Apartments Inc has recieved totaling $1,000,000.
| Awarding Organization | Amount |
|---|---|
St Francis Center Of Redwood City Redwood City, CA PURPOSE: GRANT | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elwyn California San Jose, CA | $38,347,314 | $73,477,787 |
City Of Scottsdale Municipal Property Corp Scottsdale, AZ | $479,997,584 | $48,828,086 |
Habitat For Humanity International Inc Oakland, CA | $41,053,789 | $44,589,163 |
National Community Renaissance Of California Rancho Cucamonga, CA | $192,617,949 | $51,023,842 |
Bridge Housing Corporation San Francisco, CA | $222,728,888 | $38,426,338 |
Baywood Apartments Inc Hayward, CA | $6,801,146 | $110,627 |
Eden Development Inc Hayward, CA | $30,040,019 | $4,613,123 |
Habitat For Humanity International Inc Bellflower, CA | $37,732,130 | $31,053,929 |
Reach Community Development Inc Portland, OR | $100,210,196 | $29,644,026 |
Millennium Housing Corporation Costa Mesa, CA | $189,019,442 | $31,052,319 |
Chinatown Community Development Center Inc San Francisco, CA | $109,257,292 | $38,436,421 |
Self Help Enterprises Visalia, CA | $105,976,522 | $29,798,676 |