Famco
- Assets
- $8.7m
- Revenue
- $674.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Stockton, CA
- Founding
- 08/2006
- Data as of
- 03/2022
- EIN
- 86-1151478
Organization Overview
Famco is located in Stockton, CA. The organization was established in 2006. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, 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. Famco 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 03/2022, Famco generated $674.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $374.9k during the year ending 03/2022. While expenses have increased by 2.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FAMCO WAS ESTABLISHED PERSUANT TO FREDDIEMAC REGULATIONS AS A SEPARATE ENTITY TO HOLD REAL ESTATE PROPERTIES FOR THE EXCLUSIVE BENEFIT OF PARK BIXBY TOWER, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMCO HOLDS PROPERTIES ON BEHALF OF PARK BIXBY TOWER, INC., A RELATED ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Wylie Treasurer | OfficerTrustee | 1 | $0 |
Michael Wylie President & CEO | OfficerTrustee | 10 | $0 |
Russell L Wylie Chair | OfficerTrustee | 10 | $0 |
Mark Dunn Secretary | OfficerTrustee | 1 | $0 |
Lois Richey Director | Trustee | 2 | $0 |
Thaddeus Wojcik Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $287,063 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $287,063 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $287,063 |
| Total Program Service Revenue | $92,264 |
| Investment income | $85,332 |
| 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 | $674,659 |
| 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 | $81,195 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,092 |
| Fees for services: Accounting | $3,600 |
| 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 | $3,966 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,143 |
| Travel | $0 |
| 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 | $69,660 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $374,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $588,688 |
| Savings and temporary cash investments | $5,235,389 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $460,000 |
| 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 | $2,460,144 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,517 |
| Total assets | $8,745,738 |
| Accounts payable and accrued expenses | $29,370 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $867,900 |
| Total liabilities | $897,270 |
| Net assets without donor restrictions | $7,848,468 |
| 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 | $8,745,738 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Famco has recieved totaling $288,600.
| Awarding Organization | Amount |
|---|---|
Park Bixby Towers Inc Stockton, CA PURPOSE: HELP TO MANAGE CASH FLOW OF AFFILIATE | $288,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Quality Development And Construction Inc Irvine, CA | $24,286,567 | $62,299,106 |
The Jewish Home And Senior Living Foundation San Francisco, CA | $68,076,852 | $10,222,778 |
Destination Home Sv Mountain View, CA | $71,636,859 | $46,349,546 |
Montecedro Inc Monrovia, CA | $191,107,434 | $25,965,819 |
Irvine Campus Housing Authority Irvine, CA | $90,291,490 | $26,674,526 |
Jewish Senior Living Group San Francisco, CA | $2,756,319 | $9,175,842 |
Mmm East Inc San Francisco, CA | $118,949,023 | $7,931,673 |
Covia Foundation Glendale, CA | $0 | $7,791,148 |
Housing Promise Corporation Los Angeles, CA | $717,273 | $717,273 |
Claremont Investment Management Company Claremont, CA | $1,000 | $4,500,473 |
Bridge Community Impact San Francisco, CA | $8,316,284 | $4,579,229 |
Cedarsinai Park Foundation Portland, OR | $11,831,059 | $2,143,357 |