Resident Owned Parks Inc
- Assets
- $56.7m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 27
- Location
- Sacramento, CA
- Founding
- 04/2010
- Data as of
- 12/2023
- EIN
- 30-0053792
Organization Overview
Resident Owned Parks Inc is located in Sacramento, CA. The organization was established in 2010. 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 12/2023, Resident Owned Parks Inc employed 27 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Resident Owned Parks 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 12/2023, Resident Owned Parks Inc generated $8.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $7.9m during the year ending 12/2023. While expenses have increased by 16.7% per year over the past 6 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 PRESERVE AFFORDABLE HOUSING, INCLUDING THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE MOBILEHOME PARK AND MANUFACTURED HOUSING COMMUNITY LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PRESERVE AFFORDABLE HOUSING, INCLUDING THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE MOBILEHOME PARK AND MANUFACTURED HOUSING COMMUNITY LIVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maurice A Priest President | OfficerTrustee | 28 | $180,000 |
Diane Priest Coo/sec/tres | OfficerTrustee | 30 | $133,781 |
Timothy Stenvick Director | Trustee | 1 | $0 |
John Tennyson Director | Trustee | 1 | $0 |
Steve Clute Director | Trustee | 1 | $0 |
Dan Hauser Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Russell Cpas Inc Cfo | 12/30/23 | $144,689 |
Champion Home Builder Inc Mobilehome Purchases | 12/30/23 | $171,072 |
Ca Dept Of Housing & Community Development Interest & Principal | 12/30/23 | $186,132 |
Bank Of The Sierra Interest & Principal | 12/30/23 | $227,208 |
California Municipal Finance Authority Cmfa Interest & Principal | 12/30/23 | $2,114,519 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $383,631 |
| 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 | $383,631 |
| Total Program Service Revenue | $7,783,344 |
| Investment income | $298,685 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $57,646 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,523,306 |
| 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. | $318,942 |
| Compensation of current officers, directors, key employees. | $159,471 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $657,980 |
| Pension plan accruals and contributions | $2,101 |
| Other employee benefits | $200,357 |
| Payroll taxes | $60,437 |
| Fees for services: Management | $353,899 |
| Fees for services: Legal | $100,926 |
| Fees for services: Accounting | $202,346 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $189,329 |
| Advertising and promotion | $995 |
| Office expenses | $17,991 |
| Information technology | $26,114 |
| Royalties | $0 |
| Occupancy | $52,132 |
| Travel | $5,356 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,455,450 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $958,484 |
| Insurance | $189,659 |
| All other expenses | $143,545 |
| Total functional expenses | $7,856,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,025,962 |
| Savings and temporary cash investments | $6,611,347 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,692,704 |
| Loans from Officers, Directors, or Controlling Persons | $128,939 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,215 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $81,288 |
| Net Land, buildings, and equipment | $39,273,480 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,330,960 |
| Intangible assets | $6,447,677 |
| Other assets | $68,471 |
| Total assets | $56,664,043 |
| Accounts payable and accrued expenses | $1,659,327 |
| Grants payable | $0 |
| Deferred revenue | $249,566 |
| Tax-exempt bond liabilities | $36,585,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,744,577 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,511,994 |
| Total liabilities | $54,750,464 |
| Net assets without donor restrictions | -$2,730,184 |
| Net assets with donor restrictions | $4,643,763 |
| 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 | $56,664,043 |