Harvard Plaza Inc
- Assets
- $14.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 5
- Location
- Pasadena, CA
- Founding
- 09/1979
- Data as of
- 03/2023
- EIN
- 95-3377301
Organization Overview
Harvard Plaza Inc is located in Pasadena, CA. The organization was established in 1979. 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. As of 03/2023, Harvard Plaza Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harvard Plaza 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 03/2023, Harvard Plaza Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $2.2m during the year ending 03/2023. While expenses have increased by 4.6% per year over the past 8 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
TO PROVIDE LOW INCOME HOUSING TO ELDERLY AND HANDICAPPED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A NON-PROFIT APARTMENT COMPLEX RENTING TO LOW INCOME, HANDICAPPED OR ELDERLY PERSONS. THE OPERATIONS ARE REGULATED AND CONTROLLED BY U.S. DEPT. OF HUD. A COIN OPERATED LAUNDRY FACILITY IS PROVIDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elvan Moen President | OfficerTrustee | 1 | $0 |
Revis Call Vice President | OfficerTrustee | 1 | $0 |
Jane Casey Treasurer | OfficerTrustee | 1 | $0 |
Lisa Fike Secretary | OfficerTrustee | 1 | $0 |
Robert Anderson Director | Trustee | 1 | $0 |
Brian Casey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,117,669 |
| 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 | $1,117,669 |
| Total Program Service Revenue | $648,496 |
| Investment income | $116,936 |
| 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 | $1,883,101 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $431,089 |
| 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 | $227,501 |
| Pension plan accruals and contributions | $8,925 |
| Other employee benefits | $15,298 |
| Payroll taxes | $17,321 |
| Fees for services: Management | $127,354 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,738 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,013 |
| 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 | $292,708 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,104 |
| Insurance | $60,469 |
| All other expenses | $89,289 |
| Total functional expenses | $2,156,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $532,083 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $37,968 |
| Net Land, buildings, and equipment | $2,277,294 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $11,344,943 |
| Intangible assets | $0 |
| Other assets | $525,278 |
| Total assets | $14,717,566 |
| Accounts payable and accrued expenses | $100,789 |
| 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 | $11,393,325 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,051 |
| Total liabilities | $11,541,165 |
| Net assets without donor restrictions | $3,176,401 |
| 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 | $14,717,566 |
Grants Awarded
Over the last fiscal year, Harvard Plaza Inc has awarded $431,089 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VERDUGO TOWER INC PURPOSE: TO PROVIDE SUPPORT FOR BUILDING REPAIRS AND LOAN FEES TO REFINANCE THE BUILDING. | $420,089 |
WESLEY HOMES INC PURPOSE: TO SUPPORT THE ORGANIZATIONS SUPPORT OF LOW INCOME HOUSING FOR THE ELDERLY | $11,000 |