Abbey Road Inc
- Assets
- $9.1m
- Revenue
- $1.8m
- Investments
- $99.6k
- Employees
- 0
- Location
- North Hills, CA
- Founding
- 05/2010
- Data as of
- 06/2022
- EIN
- 36-4655203
Organization Overview
Abbey Road Inc is located in North Hills, CA. The organization was established in 2010. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abbey Road 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 06/2022, Abbey Road Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 0.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ABBEY ROAD ("ABBEY") IS A NONPROFIT AFFORDABLE HOUSING DEVELOPMENT ORGANIZATION THAT WAS CREATED TO SUPPORT PENNY LANE CENTERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL AND DEVELOPMENT ACTIVITIES - IDENTIFYING, DEVELOPING, AND OPERATING PROPERTY FOR LOW INCOME, TRANSITIONAL AND PERMANENT HOUSING, ABBEY ROAD WHOLLY OWNS 7 PROPERTIES AND HOLDS A GENERAL PARTNER INTEREST IN 7 PROPERTIES TOTALING 623 UNITS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Annick Hamon President | OfficerTrustee | 0.5 | $0 |
Ivelise Markovits Vice President | OfficerTrustee | 0.5 | $0 |
Deborah Kerr Orlik Secretary | OfficerTrustee | 0.5 | $0 |
Joanne Yokota Treasurer | OfficerTrustee | 0.5 | $0 |
Sylvia Ruiz Board Member | Trustee | 0.5 | $0 |
James Ocon Board Member | Trustee | 0.5 | $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 | $169,006 |
| Noncash contributions included in lines 1a–1f | $119,006 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $169,006 |
| Total Program Service Revenue | $1,394,054 |
| Investment income | $12,963 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,626 |
| Net Gain/Loss on Asset Sales | $158,516 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,772,813 |
| 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 | $459,723 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,165 |
| Payroll taxes | $30,137 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,663 |
| Fees for services: Accounting | $18,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,393 |
| Office expenses | $63,848 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $86,862 |
| Travel | $1,332 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $448 |
| Interest | $95,453 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,434 |
| Insurance | $9,900 |
| All other expenses | $3,143 |
| Total functional expenses | $1,303,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $577,081 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,999 |
| 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 | $5,253,137 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $99,618 |
| Investments—program-related | $239,595 |
| Intangible assets | $0 |
| Other assets | $2,918,251 |
| Total assets | $9,103,681 |
| Accounts payable and accrued expenses | $46,985 |
| 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 | $9,433,543 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $272,121 |
| Total liabilities | $9,752,649 |
| Net assets without donor restrictions | -$648,968 |
| 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 | $9,103,681 |