Caritas Corporation
- Assets
- $173.7m
- Revenue
- $25.6m
- Investments
- $0.0
- Employees
- 11
- Location
- Irvine, CA
- Founding
- 10/1996
- Data as of
- 12/2022
- EIN
- 33-0694603
Organization Overview
Caritas Corporation is located in Irvine, CA. The organization was established in 1996. 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 12/2022, Caritas Corporation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caritas Corporation 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 12/2022, Caritas Corporation generated $25.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $26.1m during the year ending 12/2022. While expenses have increased by 5.4% 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.
Since 2014, Caritas Corporation has awarded 32 individual grants totaling $1,789,337. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST LOCAL GOVERNMENTS BY PROVIDING AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT FOR THE PURPOSE OF SUPERVISING AND ASSISTING ONE AFFILIATED CORPORATION THAT OWNS AND MAINTAINS AFFORDABLE HOUSING PROJECTS (MOBILE HOME PARKS AND AN APARTMENT BUILDING). ADDITIONALLY, THE CARITAS CORPORATION'S EXEMPT PURPOSE ACHIEVEMENTS INCLUDE THE PURCHASE AND OPERATION OF SIXTEEN AFFORDABLE HOUSING PROJECTS LOCATED IN THE CALIFORNIA CITIES OF DANA POINT, FRESNO, GARDEN GROVE, LANCASTER, NEWCASTLE, OCEANO, PALMDALE, SAN MARCOS, VACAVILLE, SANTA MONICA, YUCAIPA, INDIO AND THERMAL, WHICH HAVE AN UNFULFILLED STATUTORY OBLIGATION TO PROVIDE AFFORDABLE HOUSING. THERE ARE A TOTAL OF 17 APARTMENTS AVAILABLE FOR RENT IN THE CITY OF DANA POINT AS SUPPORTIVE HOUSING FOR THE HOMELESS AND DISABLED, 233 MOBILE HOME SPACES IN THE CITY OF FRESNO, 254 MOBILE HOME SPACES IN THE CITY OF GARDEN GROVE, 308 SPACES IN THE CITY OF LANCASTER, 203 MOBILE HOME SPACES IN THE CITY OF NEWCASTLE, 120 MOBILE HOME SPACES IN THE CITY OF OCEANO, 298 MOBILE HOME SPACES IN THE CITY OF PALMDALE, 117 MOBILE HOME SPACES IN THE CITY OF PALO ALTO, 150 SPACES IN THE CITY OF SAN MARCOS, 153 MOBILE HOME SPACES IN THE CITY OF VACAVILLE, 105 MOBILE HOMES SPACES IN THE CITY OF SANTA MONICA, 217 MOBILE HOME SPACES IN THE CITY OF YUCAIPA, 185 MOBILE HOME SPACES IN THE CITY OF INDIO AND 35 MOBILE HOME SPACES IN THE CITY OF THERMAL. THERE ARE 7 AFFORDABLE HOUSING PROJECTS LOCATED IN OREGON CITIES OF HUBBARD, HAPPY VALLEY, AND WOODBURN. THERE ARE 121 MOBILE HOME SPACES IN THE CITY OF WOODBURN, 105 MOBILE HOME SPACES IN THE CITY OF HUBBARD, AND 68 MOBILE HOME SPACES IN THE CITY OF HAPPY VALLEY. THERE IS AN AFFORDABLE HOUSING APPARTMENT COMPLEX UNDER CONSTRUCTION IN NAPA, CALIFORNIA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Mcdermott Board Member | Trustee | 0 | $0 |
Robert Thiergartner Board Member | Trustee | 0 | $0 |
Tom Redwitz Board Member | Trustee | 0 | $0 |
Christine Dunfey Board Member | Trustee | 0 | $0 |
Charles E Packard Board Member | Trustee | 0 | $0 |
Tim Cannon Board Member | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Midstate Construction Napa Construction | 12/30/22 | $3,604,856 |
Redwitz Inc Accounting, Consulting | 12/30/22 | $837,540 |
Birtcher Anderson Realty Management Property Management | 12/30/22 | $776,769 |
As Design Asphalt Asphalt | 12/30/22 | $277,450 |
Redwitz Inc Rent/furniture | 12/30/22 | $127,693 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $107,571 |
| Government grants | $1,443,685 |
| 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 | $1,551,256 |
| Total Program Service Revenue | $22,940,399 |
| Investment income | $694,260 |
| 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 | $25,570,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $287,012 |
| 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. | $858,602 |
| Compensation of current officers, directors, key employees. | $858,602 |
| Compensation to disqualified persons | $1,561,550 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $420,346 |
| Payroll taxes | $297,219 |
| Fees for services: Management | $776,769 |
| Fees for services: Legal | $142,942 |
| Fees for services: Accounting | $657,730 |
| Fees for services: Lobbying | $114,829 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $81,164 |
| Information technology | $111,842 |
| Royalties | $0 |
| Occupancy | $15,503,456 |
| Travel | $34,796 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,672 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,477,113 |
| Insurance | $0 |
| All other expenses | $262,098 |
| Total functional expenses | $26,051,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,251,507 |
| Savings and temporary cash investments | $1,873,131 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,493 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $157,858 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $315,798 |
| Net Land, buildings, and equipment | $143,972,861 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,480,461 |
| Other assets | $23,518,301 |
| Total assets | $173,667,410 |
| Accounts payable and accrued expenses | $2,377,781 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $167,387,645 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,608,677 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,462,109 |
| Total liabilities | $184,836,212 |
| Net assets without donor restrictions | -$11,168,802 |
| 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 | $173,667,410 |
Grants Awarded
Over the last fiscal year, Caritas Corporation has awarded $287,012 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SISTERS OF ST CLARE PURPOSE: PROVIDING FUNDING FOR SISTER EYMARD | $20,800 |
THE CARITAS FOUNDATION PURPOSE: RENTAL ASSISTANCE AND EDUCATION PROGRAMS FOR UNDERSERVED COMMUNITIES | $246,212 |
BOYS & GIRLS CLUB PURPOSE: PROVIDING FUNDING FOR STUDENTS | $20,000 |