Concord Plaza Tower Inc
- Assets
- $4.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Walnut Creek, CA
- Founding
- 06/1986
- Data as of
- 12/2022
- EIN
- 94-2984887
Organization Overview
Concord Plaza Tower Inc is located in Walnut Creek, CA. The organization was established in 1986. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Concord Plaza Tower 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 12/2022, Concord Plaza Tower Inc generated $1.6m 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 (17.0%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. 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 ELDERLY PERSONS WITH HOUSING, FACILITIES AND SERVICES ESPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING; AND TO ENGAGE IN ANY OTHER CHARITABLE ACTIVITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WAS ORGANIZED TO DEVELOP, OWN AND OPERATE AN APARTMENT COMPLEX CONSISTING OF 96 RENTAL UNITS FOR LOW-INCOME SENIORS IN CONCORD, CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Horgan Former Pres. | OfficerTrustee | 1 | $0 |
Trudy Meigs Secretary | OfficerTrustee | 1 | $0 |
Frank Fribley President/treas | OfficerTrustee | 1 | $0 |
Marilyn Wollenweber Vice President | OfficerTrustee | 1 | $0 |
Claudia Macias Member | Trustee | 1 | $0 |
Wayne Matzen Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $463,522 |
| 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 | $463,522 |
| Total Program Service Revenue | $1,092,980 |
| Investment income | $19,080 |
| 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 | $1,575,582 |
| 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 | $239,951 |
| Pension plan accruals and contributions | $1,101 |
| Other employee benefits | $29,274 |
| Payroll taxes | $18,390 |
| Fees for services: Management | $69,120 |
| Fees for services: Legal | $4,673 |
| Fees for services: Accounting | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $480 |
| Advertising and promotion | $230 |
| Office expenses | $25,392 |
| Information technology | $14,912 |
| Royalties | $0 |
| Occupancy | $655,555 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,627 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $311,712 |
| Insurance | $2,471 |
| All other expenses | $277 |
| Total functional expenses | $1,405,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,320 |
| Savings and temporary cash investments | $991,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,386 |
| 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 | $90,135 |
| Net Land, buildings, and equipment | $2,734,928 |
| Investments—publicly traded securities | $311,424 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,208,810 |
| Accounts payable and accrued expenses | $114,471 |
| Grants payable | $0 |
| Deferred revenue | $1,544 |
| 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 | $5,297,686 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $90,811 |
| Total liabilities | $5,504,512 |
| Net assets without donor restrictions | -$1,295,702 |
| 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 | $4,208,810 |