San Carlos Development Corporation
- Assets
- $21.7m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 94
- Location
- San Carlos, CA
- Founding
- 01/1993
- Data as of
- 12/2021
- EIN
- 94-3165510
Organization Overview
San Carlos Development Corporation is located in San Carlos, CA. The organization was established in 1993. 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 12/2021, San Carlos Development Corporation employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Carlos Development 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, San Carlos Development Corporation generated $7.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $7.3m during the year ending 12/2021. While expenses have increased by 3.5% 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
ASSISTED HOUSING FOR THE ELDERLY AND DEMENTIA INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ASSISTED HOUSING FOR ELDERLY AND DEMENTIA INDIVIDUALS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Evans Executive Di | OfficerTrustee | 40 | $253,183 |
Maribel Carino Health Servi | 40 | $141,813 | |
Lisa Maldonado Business Off | 40 | $119,328 | |
Christine Ackerman Secretary | OfficerTrustee | 2 | $0 |
Michael Garvey President | OfficerTrustee | $0 | |
Jerry Krause Treasurer | OfficerTrustee | $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 | $7,864,717 |
| Investment income | $910 |
| 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 | $7,865,627 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,015 |
| 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. | $365,118 |
| Compensation of current officers, directors, key employees. | $253,183 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,238,369 |
| Pension plan accruals and contributions | $39,543 |
| Other employee benefits | $638,675 |
| Payroll taxes | $245,255 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,545 |
| Fees for services: Accounting | $22,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,916 |
| Advertising and promotion | $75,583 |
| Office expenses | $32,828 |
| Information technology | $12,982 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $527,950 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $535,389 |
| Insurance | $104,534 |
| All other expenses | $559,012 |
| Total functional expenses | $7,295,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,869,719 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $65,175 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,923 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,663,439 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $694,582 |
| Other assets | $8,406,028 |
| Total assets | $21,724,866 |
| Accounts payable and accrued expenses | $143,035 |
| 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 | $13,002,775 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,227,456 |
| Total liabilities | $14,373,266 |
| 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 | $7,351,600 |
| Total liabilities and net assets/fund balances | $21,724,866 |
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|---|---|---|
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899 Charleston Palo Alto, CA | $143,487,864 | $17,017,896 |
Bay Area Senior Services Inc San Mateo, CA | $56,248,028 | $16,762,634 |
Midpen Property Management Corporation Foster City, CA | $4,229,808 | $16,638,795 |
Casa La Merced Inc C/O Falkenberg/Gilliam & Associates Pasadena, CA | $0 | $52,026 |
Scott Street Senior Housing Complex Incorporated San Francisco, CA | $43,555,702 | $18,828,763 |
Sun Health Colonnade Sun City West, AZ | $94,057,593 | $16,072,885 |
Palo Alto Senior Housing Project Inc Palo Alto, CA | $9,912,770 | $1,163,322 |
Christian Care Tucson Inc Phoenix, AZ | $29,450,689 | $13,520,695 |
Alma Via Of San Francisco Alameda, CA | $25,364,635 | $12,193,885 |
Seascape Senior Housing Inc Walnut Creek, CA | $1,410,799 | $12,833,123 |
Meadowbrook Village Christian Retirement Community Escondido, CA | $70,664,658 | $10,740,685 |