Villa Del Norte Apartments Inc
- Assets
- $1.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 10
- Location
- El Paso Tx, TX
- Founding
- 04/2007
- Data as of
- 03/2024
- EIN
- 20-4093582
Organization Overview
Villa Del Norte Apartments Inc is located in El Paso Tx, TX. The organization was established in 2007. 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. As of 03/2024, Villa Del Norte Apartments Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Villa Del Norte 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 03/2024, Villa Del Norte Apartments Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $1.4m during the year ending 03/2024. While expenses have increased by 6.6% per year over the past 5 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME DWELLERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
VILLA DEL NORTE OPERATES A 190-UNIT APARTMENT COMPLEX IN EL PASO , TEXAS. THE APARTMENT COMPLEX IS OWNED BY AN UNRELATED ENTITY, LULAC DISTRICT IV, INC. AS ESTABLISHED UNDER AN OPERATING AGREEMENT BETWEEN BOTH ENTITIES, LULAC DISTRICT IV, INC. HAS ASSIGNED SUBSTANTIALLY ALL PROCEEDS FROM THE OPERATION OF THE APARMENT COMPLEX TO VILLA DEL NORTE. SUBSTANTIALLY ALL OF VILLA OF VILLA DEL NORTE'S REVENUE AND SUPPORT IS DERIVED FROM APARTMENT RENTAL REVENUE AND RELATED SOURCES OF REVENUE. VILLA DEL NORTE'S TENANT COMMUNITY IS COMPRISED OF INDIVIDUALS AND FAMILIES WHOSE COMBINED INCOME LEVEL IS PRIMARILY BELOW 120% OF THE VERY LOW-INCOME LIMIT AS DETERMINED BY HUD FOR EL PASO COUNTY, TEXAS. THE RENTAL INCOME AND RELATED REVENUE IS UTILIZED TO PROVIDE AFFORDABLE LOW-INCOME HOUSING FOR THE ECONOMICALLY DISADVANTAGE POPULATION IN EL PASO DEL NORTE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis E Guzman Chairman Chairman | OfficerTrustee | 20 | $0 |
Daniel Anchondo Director | Trustee | 3 | $0 |
Rose Ortega Director | Trustee | 3 | $0 |
Ignacia Valdez Treasurer | OfficerTrustee | 3 | $0 |
Mary Yanez Vice Chair | OfficerTrustee | 3 | $0 |
Ray Mencera Director | Trustee | 3 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,212,458 |
| Investment income | $8,635 |
| 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 | $1,245,858 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $25,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $255,769 |
| Compensation of current officers, directors, key employees. | $91,120 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $10,482 |
| Other employee benefits | $33,508 |
| Payroll taxes | $19,749 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,708 |
| Fees for services: Accounting | $28,625 |
| 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 | $7,020 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,647 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1 |
| Insurance | $175,685 |
| All other expenses | $30,302 |
| Total functional expenses | $1,356,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $270,190 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $855,477 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $734 |
| Total assets | $1,126,401 |
| Accounts payable and accrued expenses | $3,389 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $100,695 |
| Total liabilities | $104,084 |
| Net assets without donor restrictions | $420,217 |
| Net assets with donor restrictions | $602,100 |
| 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 | $1,126,401 |
Grants Awarded
Over the last fiscal year, Villa Del Norte Apartments Inc has awarded $419,308 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LULAC DISTRICT IV INC PURPOSE: SCHOLARSHIPS | $28,000 |
LULAC FOR SPECIAL PROJECTS - RENOVATIONS TO PROPERTIES HELD IN TRUST PURPOSE: SPECIAL PROJECTS -RENOVATIONS TO PROPERTIES HELD IN TRUST | $391,308 |