Lesley Foundation
- Assets
- $83.2m
- Revenue
- $22.6m
- Investments
- $129.1k
- Employees
- 55
- Location
- Half Moon Bay, CA
- Founding
- 06/1946
- Data as of
- 12/2023
- EIN
- 94-6103170
Organization Overview
Lesley Foundation is located in Half Moon Bay, CA. The organization was established in 1946. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Lesley Foundation employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lesley Foundation 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, Lesley Foundation generated $22.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $8.8m during the year ending 12/2023. While expenses have increased by 4.9% 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
THE CORPORATION WAS FORMED (A) TO PROVIDE HOUSING AND RELATED FACILITIES AND SERVICES FOR SENIOR FAMILIES AND PERSONS ON A NON-PROFIT BASIS; (B) TO PLAN, CONSTRUCT, OPERATE, MAINTAIN, REHABILITATE, ALTER, CONVERT, AND IMPROVE HOUSING FOR SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LESLEY TOWERS, LLC - 198-UNIT PROJECT PROVIDING LOW-INCOME HOUSING FOR SENIORS
BONNIE BRAE TERRACE - 164-UNIT PROJECT PROVIDING LOW-INCOME HOUSINGAND FOOD SERVICES FOR SENIORS.
PILGRIM PLAZA - 56-UNIT PROJECT PROVIDING LOW-INCOME HOUSING FOR SENIORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Evans Executive Dir. | Officer | 41 | $196,018 |
Nancy Amaya Deputy E.d. | Officer | 35 | $146,811 |
Mary Cheung Dir Of Mgmt & Ops | 45 | $113,778 | |
Sue Winks President | OfficerTrustee | 0.77 | $0 |
Tony Villanueva Vice President | OfficerTrustee | 1.99 | $0 |
Bernadette Mellott Member | Trustee | 0.11 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gci Inc Gen'l Contractor | 12/30/21 | $1,614,605 |
Ventura Hersey & Muller Llp Legal | 12/30/21 | $164,609 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,064,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,066,098 |
| Total Program Service Revenue | $2,838,572 |
| Investment income | $920,883 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,762,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,644,563 |
| 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. | $342,829 |
| Compensation of current officers, directors, key employees. | $342,829 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,784,790 |
| Pension plan accruals and contributions | $105,264 |
| Other employee benefits | $287,698 |
| Payroll taxes | $159,811 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,985 |
| Fees for services: Accounting | $46,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,893 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $243,501 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,011,390 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,350,433 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,288,403 |
| Insurance | $0 |
| All other expenses | $192,168 |
| Total functional expenses | $8,754,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,250 |
| Savings and temporary cash investments | $31,042,210 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,494 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $842,494 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $334,016 |
| Net Land, buildings, and equipment | $42,152,659 |
| Investments—publicly traded securities | $3,832,062 |
| Investments—other securities | $129,111 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,848,141 |
| Total assets | $83,206,437 |
| Accounts payable and accrued expenses | $287,941 |
| 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 | $53,774,217 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $118,153 |
| Total liabilities | $54,180,311 |
| Net assets without donor restrictions | $29,026,126 |
| 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 | $83,206,437 |