Satellite Senior Homes Inc
- Assets
- $37.2m
- Revenue
- $6.3m
- Investments
- $200.0k
- Employees
- 0
- Location
- Berkeley, CA
- Founding
- 09/1967
- Data as of
- 09/2022
- EIN
- 94-6130795
Organization Overview
Satellite Senior Homes Inc is located in Berkeley, CA. The organization was established in 1967. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Satellite Senior Homes 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 09/2022, Satellite Senior Homes Inc generated $6.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $6.5m during the year ending 09/2022. While expenses have increased by 5.0% 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 AFFORDABLE RENTAL HOUSING FOR LOW AND MODERATE INCOME ELDERLY PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WAS ORGANIZED TO PROVIDE RENTAL HOUSING FOR LOW AND MODERATE-INCOME ELDERLY PERSONS. THE CORPORATION OWNS AND OPERATES A TOTAL OF 237 RENTAL UNITS. THE PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES, OPERATING METHODS AND OTHER MATTERS UNDER SECTION 236 OF THE NATIONAL HOUSING ACT.
PROVIDED GENERAL SUPPORT TO SATELLITE AFFORDABLE HOUSING ASSOCIATES (SAHA), A RELATED CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, IN FURTHERANCE OF SAHA'S EXEMPT PURPOSE OF DEVELOPING AFFORDABLE HOUSING PROJECTS FOR THE BENEFIT OF LOW AND MODERATE-INCOME FAMILIES, ELDERLY, AND PERSONS WITH DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Smitha Seshadri Vice Chairman | OfficerTrustee | 0.1 | $0 |
Rauly Butler Chairman | OfficerTrustee | 0.1 | $0 |
Scott Smith Treasurer | OfficerTrustee | 0.1 | $0 |
Francine Williams Secretary | OfficerTrustee | 0.1 | $0 |
Susan Friedland CEO | Officer | 0.1 | $0 |
Steve Herman VP Of Finance | Officer | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,560,512 |
| 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 | $4,560,512 |
| Total Program Service Revenue | $1,018,762 |
| Investment income | $735,032 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,837 |
| 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 | $6,337,143 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,619,906 |
| 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 | $1,382,241 |
| Pension plan accruals and contributions | $32,028 |
| Other employee benefits | $208,781 |
| Payroll taxes | $80,495 |
| Fees for services: Management | $413,304 |
| Fees for services: Legal | $15,130 |
| Fees for services: Accounting | $69,664 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,069 |
| Advertising and promotion | $0 |
| Office expenses | $213,274 |
| Information technology | $44,010 |
| Royalties | $0 |
| Occupancy | $1,785,459 |
| Travel | $314 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,262 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $336,616 |
| Insurance | $16,884 |
| All other expenses | $18,560 |
| Total functional expenses | $6,464,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,240,870 |
| Savings and temporary cash investments | $8,618,065 |
| Pledges and grants receivable | $64,878 |
| Accounts receivable, net | $40,998 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,833,287 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $63,794 |
| Net Land, buildings, and equipment | $6,091,809 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $200,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $96,254 |
| Total assets | $37,249,955 |
| Accounts payable and accrued expenses | $1,268,190 |
| Grants payable | $0 |
| Deferred revenue | $13,029 |
| 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 | $6,570,173 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $415,953 |
| Total liabilities | $8,267,345 |
| Net assets without donor restrictions | $28,982,610 |
| 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 | $37,249,955 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Satellite Senior Homes Inc has recieved totaling $63,294.
| Awarding Organization | Amount |
|---|---|
Satellite Affordable Housing Associates Berkeley, CA PURPOSE: DIGITAL LITERACY PROGRAMS | $63,294 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hollenbeck Palms Los Angeles, CA | $91,601,425 | $22,351,666 |
899 Charleston Palo Alto, CA | $143,487,864 | $17,017,896 |
Bay Area Senior Services Inc San Mateo, CA | $56,248,028 | $16,762,634 |
Midpen Property Management Corporation Foster City, CA | $4,229,808 | $16,638,795 |
Casa La Merced Inc C/O Falkenberg/Gilliam & Associates Pasadena, CA | $0 | $52,026 |
Scott Street Senior Housing Complex Incorporated San Francisco, CA | $43,555,702 | $18,828,763 |
Sun Health Colonnade Sun City West, AZ | $94,057,593 | $16,072,885 |
Palo Alto Senior Housing Project Inc Palo Alto, CA | $9,912,770 | $1,163,322 |
Christian Care Tucson Inc Phoenix, AZ | $29,450,689 | $13,520,695 |
Alma Via Of San Francisco Alameda, CA | $25,364,635 | $12,193,885 |
Seascape Senior Housing Inc Walnut Creek, CA | $1,410,799 | $12,833,123 |
Meadowbrook Village Christian Retirement Community Escondido, CA | $70,664,658 | $10,740,685 |