Nova-Ro Corporation
- Assets
- $7.0m
- Revenue
- $1.4m
- Investments
- $4.2m
- Employees
- 3
- Location
- Novato, CA
- Founding
- 04/1985
- Data as of
- 06/2022
- EIN
- 94-2318537
Organization Overview
Nova-Ro Corporation is located in Novato, CA. The organization was established in 1985. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Nova-Ro Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nova-Ro 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 06/2022, Nova-Ro Corporation generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $843.6k during the year ending 06/2022. While expenses have increased by 0.7% 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
TO PROVIDE LOW INCOME RENTAL FACILITIES FOR LOW INCOME ELDERLY PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW INCOME RENTAL FACILITIES FOR LOW INCOME ELDERLY PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Burton Hoffmann Treasurer | OfficerTrustee | 1 | $0 |
Larry Mazzotta Secretary | OfficerTrustee | 1 | $0 |
Dean Heffelfinger Vice President | OfficerTrustee | 1 | $0 |
Robert Marshall President | OfficerTrustee | 1 | $0 |
Robert Caro Executive Director | Officer | 20 | $0 |
Craig Anderson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,162,313 |
| Investment income | $40,018 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $207,044 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,409,375 |
| 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 | $22,982 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,214 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $122,734 |
| 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 | $171,045 |
| Insurance | $36,142 |
| All other expenses | $40,838 |
| Total functional expenses | $843,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,887 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,322,399 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,185,929 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $384,226 |
| Total assets | $7,041,441 |
| Accounts payable and accrued expenses | $0 |
| 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 | $51,850 |
| Total liabilities | $51,850 |
| Net assets without donor restrictions | $0 |
| 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 | $6,989,591 |
| Total liabilities and net assets/fund balances | $7,041,441 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nova-Ro Corporation has recieved totaling $29,096.
| Awarding Organization | Amount |
|---|---|
Marin Community Foundation Novato, CA PURPOSE: GENERAL OPERATING SUPPORT | $29,096 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Front Porch Communities Operating Group Llc Glendale, CA | $0 | $63,438,130 |
Marys Woods At Marylhurst Inc Lake Oswego, OR | $331,910,754 | $44,154,309 |
Kahala Senior Living Community Inc Honolulu, HI | $275,964,895 | $44,365,985 |
Humangood Fresno Duarte, CA | $99,958,177 | $30,814,211 |
Mirabella At South Waterfront Portland, OR | $173,639,306 | $25,337,918 |
Humangood Nevada Duarte, CA | $70,139,943 | $27,024,940 |
Dallas Mennonite Retirement Community Inc Dallas, OR | $84,334,175 | $25,845,409 |
Mirabella At Asu Inc Tempe, AZ | $298,424,373 | $6,088,723 |
Humangood Idaho Duarte, CA | $92,297,372 | $17,990,575 |
Sun Health Grandview Terrace Sun City West, AZ | $62,483,785 | $23,188,169 |
Asian Pacific Health Care Venture Inc Los Angeles, CA | $31,429,576 | $29,795,515 |
Hollenbeck Palms Los Angeles, CA | $91,601,425 | $22,351,666 |