Community Corporation Of Santa Monica
- Assets
- $197.3m
- Revenue
- $17.6m
- Investments
- $0.0
- Employees
- 132
- Location
- Santa Monica, CA
- Founding
- 07/1983
- Data as of
- 06/2022
- EIN
- 95-3795161
Organization Overview
Community Corporation Of Santa Monica is located in Santa Monica, CA. The organization was established in 1983. 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 06/2022, Community Corporation Of Santa Monica employed 132 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Corporation Of Santa Monica 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 06/2022, Community Corporation Of Santa Monica generated $17.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $16.3m during the year ending 06/2022. 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
SEE SCHEDULE O FOR COMPLETE MISSION STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY CORPORATION OF SANTA MONICA WAS FORMED TO IMPROVE LIVES AND NEIGHBORHOODS BY RESTORING, BUILDING, AND MANAGING AFFORDABLE HOUSING FOR PEOPLE OF MODEST MEANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tara Barauskas Executive Director | Officer | 40 | $227,040 |
Jesus Hernandez Director Of Housing Develo | Officer | 40 | $169,995 |
Robert Connell Chief Financial Officer | Officer | 40 | $166,195 |
Durinda Abraham Director Of Property Mgmt | 40 | $166,016 | |
Miguel Ceballos Director Of Maintenance | 40 | $153,107 | |
Martha Martinez Human Resources / Admin Manager | 40 | $144,621 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kfa Llp 8333 Airport Architect Services | 6/29/22 | $485,033 |
Mfrg-icon Construction 1616 Ocean Development | 6/29/22 | $428,986 |
Cruz Construction And Landscape Inc General Repairs | 6/29/22 | $247,880 |
Americateam Contractors Co General Repairs | 6/29/22 | $395,678 |
Egan Simon Architecture 2033 Virginia Development | 6/29/22 | $248,625 |
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 | $144,122 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $144,122 |
| Total Program Service Revenue | $16,962,461 |
| Investment income | $257,653 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $162,727 |
| Net Gain/Loss on Asset Sales | -$7,846 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,598,823 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,927,380 |
| Compensation of current officers, directors, key employees. | $1,927,380 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,800,128 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $627,491 |
| Payroll taxes | $351,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,014 |
| Fees for services: Accounting | $10,794 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $414,453 |
| Advertising and promotion | $99,417 |
| Office expenses | $833,752 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,950,110 |
| Travel | $20,196 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $78,637 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,816,137 |
| Insurance | $141,967 |
| All other expenses | $0 |
| Total functional expenses | $16,280,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,073,763 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,135,525 |
| 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 | $915,507 |
| Net Land, buildings, and equipment | $139,413,904 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $22,672,663 |
| Intangible assets | $86,303 |
| Other assets | $15,040,950 |
| Total assets | $197,338,615 |
| Accounts payable and accrued expenses | $1,101,068 |
| Grants payable | $0 |
| Deferred revenue | $126,961 |
| 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 | $151,486,672 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,074,278 |
| Total liabilities | $155,788,979 |
| Net assets without donor restrictions | $40,731,809 |
| Net assets with donor restrictions | $817,827 |
| 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 | $197,338,615 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Community Corporation Of Santa Monica has recieved totaling $15,224.
| Awarding Organization | Amount |
|---|---|
Mufg Union Bank Foundation Ag Phoenix, AZ PURPOSE: CHARITABLE | $15,000 |
Arthur J Gallagher Foundation Rolling Meadows, IL PURPOSE: GENERAL EXEMPT PURPOSE | $200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $24 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Episcopal Communities & Services For Seniors Monrovia, CA | $210,406,101 | $54,393,007 |
Area Housing Authority Of County Of Ventura Newbury Park, CA | $51,199,286 | $45,374,355 |
Eah Inc San Rafael, CA | $269,353,281 | $53,747,905 |
Tenderloin Neighborhood Development Corporation San Francisco, CA | $105,200,928 | $42,280,090 |
Eden Housing Inc Hayward, CA | $420,059,670 | $90,990,309 |
Midpen Housing Corporation Foster City, CA | $279,122,902 | $50,937,724 |
Cesar Chavez Foundation Keene, CA | $206,528,631 | $52,041,546 |
Pico-Union Housing Corporation Los Angeles, CA | $136,637,775 | $17,120,613 |
Northwest Housing Alternatives Inc Milwaukie, OR | $66,415,282 | $18,428,543 |
Burbank Housing Development Corporation Santa Rosa, CA | $103,460,619 | $16,261,747 |
Coachella Valley Housing Coalition Indio, CA | $146,778,624 | $17,127,596 |
Community Corporation Of Santa Monica Santa Monica, CA | $197,338,615 | $17,598,823 |