Pine Gardens I Inc
- Assets
- $10.4m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Ukiah, CA
- Founding
- 07/1995
- Data as of
- 10/2023
- EIN
- 68-0353653
Organization Overview
Pine Gardens I Inc is located in Ukiah, 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. Pine Gardens I 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 10/2023, Pine Gardens I Inc generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $3.5m during the year ending 10/2023. 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 PROVIDE DECENT, AFFORDABLE HOUSING TO LOW AND MODERATE INCOME PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PINE GARDENS I, INC. SERVES AS THE GENERAL PARTNER IN 7 LIMITED PARTNERSHIPS THAT OWN 10 AFFORDABLE APARTMENT COMMUNITIES FOR FAMILIES WITH A TOTAL OF 232 UNITS. PINE GARDENS I, INC. ALSO SERVES AS THE LIMITED PARTNER IN A LIMITED PARTNERSHIP THAT OWNS 1 APARTMENT COMMUNITY FOR FAMILIES WITH A TOTAL OF 50 UNITS. PINE GARDENS I, INC. ALSO SERVES AS THE SOLE MEMBER OF CC SEABREEZE, LLC WHICH IS THE GENERAL PARTNER IN A LIMITED PARTNERSHIP THAT OWNS 2 AFFORDABLE APARTMENT COMMUNITIES FOR FAMILIES WITH A TOTAL OF 94 UNITS. PINE GARDENS I, INC. ALSO SERVES AS THE SOLE MEMBER OF CC SEAGULL VILLA, LLC WHICH IS THE GENERAL PARTNER IN A LIMITED PARTNERSHIP THAT OWNS 1 APARTMENT COMMUNITY WITH A TOTAL OF 50 UNITS FOR SENIORS. PINE GARDENS I, INC. ALSO SERVES AS THE SOLE MEMBER OF PINE GARDENS HOLDING 3, LLC WHICH OWNS 3 APARTMENT COMMUNITIES FOR SENIORS WITH A TOTAL OF 122 UNITS. IN THIS CAPACITY, PINE GARDENS I, INC. PROVIDES BENEFIT TO 376 FAMILIES AND 172 SENIORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Larue CEO | Officer | 2 | $0 |
Jennifer Hofstetter CFO | Officer | 2 | $0 |
Aaron Lefebvre Chairperson | OfficerTrustee | 1 | $0 |
Richard J Henderson Vice Chairperson | OfficerTrustee | 1 | $0 |
Charlotte Watkins Secretary | OfficerTrustee | 1 | $0 |
Gary L Mirata Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,156,073 |
| 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 | $2,156,073 |
| Total Program Service Revenue | $852,088 |
| Investment income | $10,232 |
| 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 | $3,018,393 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $196,344 |
| Fees for services: Legal | $715 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,183 |
| Office expenses | $83,234 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,023 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $641,693 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $434,826 |
| Insurance | $185,064 |
| All other expenses | $127,575 |
| Total functional expenses | $3,513,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,063 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $85,924 |
| 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 | $18,772 |
| Net Land, buildings, and equipment | $4,924,561 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,186,271 |
| Intangible assets | $0 |
| Other assets | $3,780,904 |
| Total assets | $10,382,495 |
| Accounts payable and accrued expenses | $184,619 |
| Grants payable | $0 |
| Deferred revenue | $3,523 |
| Tax-exempt bond liabilities | $4,258,004 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,807,781 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,070,871 |
| Total liabilities | $12,324,798 |
| Net assets without donor restrictions | -$1,405,204 |
| Net assets with donor restrictions | -$537,099 |
| 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 | $10,382,495 |