Menlo Gateway Inc is located in Foster City, CA. The organization was established in 1987. According to its NTEE Classification (O40) the organization is classified as: Scouting, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Menlo Gateway 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, Menlo Gateway Inc generated $937.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.1%) each year. All expenses for the organization totaled $858.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.6%) per year over the past 7 years. 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
IN CONJUNCTION WITH RELATED ORGANIZATIONS, MIDPEN HOUSING CORPORATION'S MISSION IS TO PROVIDE SAFE, AFFORDABLE HOUSING OF HIGH QUALITY TO THOSE IN NEED; TO ESTABLISH STABILITY AND OPPORTUNITY IN THE LIVES OF RESIDENTS; AND TO FOSTER DIVERSE COMMUNITIES THAT ALLOW PEOPLE FROM ALL ETHNIC, SOCIAL ANDECONOMIC BACKGROUNDS TO LIVE IN DIGNITY, HARMONY AND MUTUAL RESPECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME FAMILIES, THEELDERLY, AND THE DISABLED.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dan Seubert Treasurer | OfficerTrustee | 0.2 | $0 |
Kim Le Chair | OfficerTrustee | 0.2 | $0 |
Eric Harrison Vice Chair | OfficerTrustee | 0.2 | $0 |
Gina Diaz Secretary | OfficerTrustee | 0.2 | $0 |
Matthew O Franklin President/asst Secretary | Officer | 0.5 | $0 |
Jan Lindenthal Chief Real Estate Dev /asst. Secretary | Officer | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $548,137 |
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 | $548,137 |
Total Program Service Revenue | $330,228 |
Investment income | $8,141 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$541 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $937,821 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $75,413 |
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 | $81,929 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $22,990 |
Payroll taxes | $7,503 |
Fees for services: Management | $35,178 |
Fees for services: Legal | $5,601 |
Fees for services: Accounting | $15,260 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $15,038 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $744 |
Interest | $173,909 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $122,359 |
Insurance | $27,003 |
All other expenses | $48,276 |
Total functional expenses | $858,800 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $325,665 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $43,808 |
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 | $31,901 |
Net Land, buildings, and equipment | $3,473,919 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,022,657 |
Total assets | $5,897,950 |
Accounts payable and accrued expenses | $15,801 |
Grants payable | $0 |
Deferred revenue | $7,905 |
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 | $8,239,832 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $537,800 |
Total liabilities | $8,801,338 |
Net assets without donor restrictions | -$2,903,388 |
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 | $5,897,950 |
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