Linc-Redondo Beach Seniors Inc
- Assets
- $6.6m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 12/1995
- Data as of
- 12/2021
- EIN
- 33-0677510
Organization Overview
Linc-Redondo Beach Seniors Inc is located in Long Beach, CA. The organization was established in 1995. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Linc-Redondo Beach Seniors 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 12/2021, Linc-Redondo Beach Seniors Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 1.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LINC-REDONDO BEACH SENIORS, INC OWNS AN APARTMENT BUILDING IN ORDER TO LESSEN THE BURDEN OF GOVERNMENTS AND PROVIDE AFFORDABLE HOUSING THROUGHOUT CALIFORNIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOW INCOME AFFORDABLE HOUSING TO NEEDY INDIVIDUALS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Montoya Vice Chairman | OfficerTrustee | 0 | $0 |
Jeff Mindes Chairman | OfficerTrustee | 0 | $0 |
Paul Nowatka Secretary | OfficerTrustee | 0 | $0 |
Terry Tornek Treasurer | OfficerTrustee | 0 | $0 |
Rebecca F Clark President & CEO | Officer | 0 | $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 | $2,342,565 |
| Investment income | $69 |
| 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 | $2,342,634 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $156,324 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,538 |
| Payroll taxes | $12,114 |
| Fees for services: Management | $112,592 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,158 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,698 |
| Advertising and promotion | $6,410 |
| Office expenses | $7,675 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,138,218 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $269,830 |
| Insurance | $84,192 |
| All other expenses | $68,311 |
| Total functional expenses | $2,354,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,140,082 |
| Savings and temporary cash investments | $86,181 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $235,602 |
| 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 | $7,830 |
| Net Land, buildings, and equipment | $4,055,615 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,169 |
| Total assets | $6,573,479 |
| Accounts payable and accrued expenses | $829,142 |
| Grants payable | $0 |
| Deferred revenue | $2,523 |
| 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 | $2,213,959 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $86,237 |
| Total liabilities | $3,131,861 |
| Net assets without donor restrictions | $3,441,618 |
| 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 | $6,573,479 |
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