Tierra Del Sol
- Assets
- $7.4m
- Revenue
- $720.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 75-3004763
Organization Overview
Tierra Del Sol is located in Denver, CO. The organization was established in 2002. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Tierra Del Sol 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, Tierra Del Sol generated $720.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 2.4% 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
TO DEVELOP, OWN AND OPERATE LOW-INCOME HOUSING PROGRAMS FOR FAMILIES, SENIORS AND PEOPLE WITH SPECIAL NEEDS THAT LACK THE ECONOMIC RESOURCES TO ACCESS QUALITY HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TIERRA DEL SOL WAS FORMED AS A NON-PROFIT CORPORATION ON DECEMBER 17, 2003 UNDER THE LAWS OF THE STATE OF CALIFORNIA FOR THE PURPOSES OF CONSTRUCTING, DEVELOPING, AND OPERATING A LOW-INCOME RESIDENTIAL HOUSING PROJECT UNDER SECTION 202 OF THE HOUSING ACT OF 1959. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE PROPERTY CONSISTS OF 76 RENTAL UNITS LOCATED IN CATHEDRAL CITY, CALIFORNIA AND OPERATES UNDER THE NAME TIERRA DEL SOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Gualco Vice President/director | OfficerTrustee | 1 | $0 |
Ramie Dare Chair/vp/director | OfficerTrustee | 1 | $0 |
Stephan Daues Vice President/director | OfficerTrustee | 1 | $0 |
Doug Shoemaker President/director | OfficerTrustee | 1 | $0 |
Melissa Clayton Vice President/director | OfficerTrustee | 1 | $0 |
Joseph Rosenblum Secretary/director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $456,008 |
| 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 | $456,008 |
| Total Program Service Revenue | $260,743 |
| Investment income | $3,247 |
| 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 | $719,998 |
| 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 | $149,178 |
| Pension plan accruals and contributions | $2,578 |
| Other employee benefits | $52,965 |
| Payroll taxes | $11,569 |
| Fees for services: Management | $78,232 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,466 |
| Advertising and promotion | $20 |
| Office expenses | $16,058 |
| Information technology | $2,516 |
| Royalties | $0 |
| Occupancy | $167,608 |
| Travel | $684 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $499,664 |
| Insurance | $0 |
| All other expenses | $5,194 |
| Total functional expenses | $1,138,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,531 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $327 |
| 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 | $32,287 |
| Net Land, buildings, and equipment | $6,640,939 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,376 |
| Other assets | $643,836 |
| Total assets | $7,363,296 |
| Accounts payable and accrued expenses | $73,312 |
| Grants payable | $0 |
| Deferred revenue | $8,958 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,574,733 |
| Total liabilities | $1,657,003 |
| Net assets without donor restrictions | $4,925,702 |
| Net assets with donor restrictions | $780,591 |
| 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 | $7,363,296 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Irc Ii Inc Omaha, NE | $77,092,812 | $15,244,348 |
Mercy Housing Wheaton Nfp Denver, CO | -$15,968,467 | $14,335,053 |
Rocky Mountain Mutual Housing Association Inc Denver, CO | $89,135,511 | $15,318,775 |
Equality Community Housing Corporation Glendale, AZ | $43,109,186 | $12,960,879 |
Mercy Housing Northwest Denver, CO | $73,547,369 | $9,509,795 |
Ark Regional Services Inc Laramie, WY | $4,970,092 | $7,518,317 |
Community Housing Concepts Inc Denver, CO | $87,603,673 | $7,035,643 |
Community Resources & Housing Development Corporation Westminster, CO | $39,546,722 | $6,041,584 |
Elevation Community Land Trust Denver, CO | $49,445,560 | $8,122,320 |
Residences At Eaton Senior Communities Lakewood, CO | $12,361,716 | $4,288,663 |
Arizona Housing Inc Phoenix, AZ | $15,313,221 | $3,724,119 |
Thistle Community Housing Boulder, CO | $53,794,788 | $7,131,075 |