Midpen Resident Services Corporation
- Assets
- $3.7m
- Revenue
- $11.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Foster City, CA
- Founding
- 02/2002
- Data as of
- 12/2021
- EIN
- 91-2090479
Organization Overview
Midpen Resident Services Corporation is located in Foster City, CA. The organization was established in 2002. According to its NTEE Classification (L80) the organization is classified as: Housing 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. Midpen Resident Services Corporation 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, Midpen Resident Services Corporation generated $11.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $9.7m during the year ending 12/2021. While expenses have increased by 7.1% 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
MIDPEN RESIDENT SERVICES CORPORATION PROVIDES EDUCATIONAL AND COMMUNITY BUILDING PROGRAMS, WHICH PROMOTE INCREASED ACADEMIC PERFORMANCE FOR SCHOOL-AGE YOUTH, VOCATIONAL DEVELOPMENT AND EMPLOYMENT SUPPORT FOR WORKING-AGE ADULTS, AGE-IN-PLACE HEALTH CARE SUPPORT FOR SENIORS AND ADDITIONAL SUPPORT FOR RESIDENTS WHO HAVE MENTAL HEALTH, SUBSTANCE ABUSE, OR PHYSICAL HEALTH CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDPEN RESIDENT SERVICES CORPORATION PROVIDES DISCRETE SOCIAL PROGRAMS AND PROMOTES INCREASED ACADEMIC PERFORMANCE FOR SCHOOL-AGE YOUTH, VOCATIONAL DEVELOPMENT AND EMPLOYMENT SUPPORT FOR WORKING-AGE ADULTS, AGE-IN-PLACE HEALTH CARE SUPPORT FOR SENIORS AND ADDITIONAL SUPPORT FOR RESIDENTS WHO HAVE MENTAL HEALTH, SUBSTANCE ABUSE, OR PHYSICAL HEALTH CHALLENGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Le Chair | OfficerTrustee | 0.3 | $0 |
Daniel K Seubert Treasurer | OfficerTrustee | 0.3 | $0 |
Gina Diaz Secretary | OfficerTrustee | 0.3 | $0 |
Eric Harrison Vice Chair | OfficerTrustee | 0.3 | $0 |
Matthew O Franklin President / Asst. Secretary | Officer | 7.5 | $0 |
Michael J Vergura CFO / Asst. Secretary | Officer | 7.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lifesteps Consulting Services | 12/30/21 | $180,705 |
Mental Health Assoc Consulting Services | 12/30/21 | $153,596 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $392,594 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $161,726 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $554,320 |
| Total Program Service Revenue | $9,536,953 |
| Investment income | $1,389 |
| 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 | $11,407,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $406,100 |
| 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 | $5,320,284 |
| Pension plan accruals and contributions | $332,675 |
| Other employee benefits | $994,911 |
| Payroll taxes | $561,532 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,712 |
| Fees for services: Accounting | $23,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $124,316 |
| Advertising and promotion | $904 |
| Office expenses | $91,262 |
| Information technology | $156,783 |
| Royalties | $0 |
| Occupancy | $52,095 |
| Travel | $83,109 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,090 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,791 |
| Insurance | $312,929 |
| All other expenses | $30 |
| Total functional expenses | $9,677,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,020,431 |
| Savings and temporary cash investments | $1,502,650 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $955,472 |
| 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 | $63,663 |
| Net Land, buildings, and equipment | $160,118 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,702,334 |
| Accounts payable and accrued expenses | $899,035 |
| Grants payable | $0 |
| Deferred revenue | $1,709 |
| 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 | $457,975 |
| Total liabilities | $1,358,719 |
| Net assets without donor restrictions | $1,997,067 |
| Net assets with donor restrictions | $346,548 |
| 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 | $3,702,334 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Midpen Resident Services Corporation has recieved totaling $389,594.
| Awarding Organization | Amount |
|---|---|
Midpen Housing Corporation Foster City, CA PURPOSE: RELATED TO CIF GRANT | $150,000 |
Midpen Housing Corporation Foster City, CA PURPOSE: RELATED TO MIDWAY PROJECT | $100,000 |
Midpen Housing Corporation Foster City, CA PURPOSE: RELATED TO HUD GRANT (MOON GATE) | $79,594 |
Midpen Housing Corporation Foster City, CA PURPOSE: ACAP GRANT | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles Apartments Housing Corporation Hayward, CA | $0 | $319,066 |
Satellite Affordable Housing Associates Berkeley, CA | $83,294,736 | $13,591,508 |
Rhf Foundation Long Beach, CA | $215,917,223 | $14,903,975 |
Sheltercare Eugene, OR | $4,357,138 | $9,135,740 |
Midpen Resident Services Corporation Foster City, CA | $3,702,334 | $11,407,168 |
Bridge Property Management Company San Francisco, CA | $1,233,636 | $9,360,308 |
Burbank Housing Corporation Burbank, CA | $47,643,861 | $6,370,585 |
Habitat For Humanity San Fernando/Santa Clarita Valleys Woodland Hills, CA | $1 | $4,168,206 |
Do Good Multnomah Portland, OR | $6,858,210 | $9,987,432 |
Satellite Aha Development Inc Berkeley, CA | $17,466,494 | $5,909,155 |
Housing Trust Silicon Valley San Jose, CA | $250,989,111 | $21,448,557 |
Western Community Housing Inc Costa Mesa, CA | $106,078,970 | $11,023,596 |