Surf Development Company Inc
- Assets
- $6.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Lompoc, CA
- Founding
- 08/1996
- Data as of
- 06/2021
- EIN
- 77-0201747
Organization Overview
Surf Development Company Inc is located in Lompoc, CA. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2021, Surf Development Company Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Surf Development Company 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 06/2021, Surf Development Company Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $1.4m during the year ending 06/2021. 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
PROVIDE HOUSING FOR LOW INCOME, INDIVIDUALS, FAMILIES, ELDERLY, AND DISABLE PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FOR LOW INCOME FAMILIES AND ELDERLY AND HANDICAPPED PERSONS WHO CANNOT AFFORD DECENT, SAFE, AND SANITARY HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry K Deese Senior Project Man | 40 | $144,443 | |
Nancy L Wesoff Dir. Of Contract | 40 | $137,614 | |
Mark W Cromer Project Manager | 40 | $131,015 | |
Milton E Johns Senior Project Man | 40 | $131,014 | |
Raymond F Down President | OfficerTrustee | 2 | $0 |
Mark Paul Vice President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $89,672 |
| 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 | $89,672 |
| Total Program Service Revenue | $1,374,975 |
| Investment income | $5,860 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,413 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,478,920 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| 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 | $601,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $108,950 |
| Payroll taxes | $146,698 |
| Fees for services: Management | $106,191 |
| Fees for services: Legal | $900 |
| Fees for services: Accounting | $7,026 |
| 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 | $46,425 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,008 |
| Travel | $365 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,261 |
| Interest | $30,699 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,633 |
| Insurance | $23,974 |
| All other expenses | $0 |
| Total functional expenses | $1,387,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,256,697 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,584 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,866,506 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,713 |
| Net Land, buildings, and equipment | $3,446,049 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $49,200 |
| Intangible assets | $3,806 |
| Other assets | $0 |
| Total assets | $6,643,555 |
| Accounts payable and accrued expenses | $242,969 |
| Grants payable | $0 |
| Deferred revenue | $1,143,406 |
| 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 | $1,512,564 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,463 |
| Total liabilities | $2,919,402 |
| Net assets without donor restrictions | $2,774,153 |
| Net assets with donor restrictions | $950,000 |
| 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 | $6,643,555 |
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