Oceana Senior Housing Corporation
- Assets
- $1.7m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 02/1993
- Data as of
- 12/2021
- EIN
- 94-3167825
Organization Overview
Oceana Senior Housing Corporation is located in Denver, CO. The organization was established in 1993. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oceana Senior Housing 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, Oceana Senior Housing Corporation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $684.4k during the year ending 12/2021. While expenses have increased by 1.3% 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
TO OWN AND OPERATE OCEANA TERRACE, A 42-UNIT APARTMENT PROJECT IN PACIFICA, CA, SPECIALLY DESIGNED TO MEET THE HOUSING AND SERVICE NEEDS OF LOW-INCOME ELDERLY AND HANDICAPPED PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
OCEANA SENIOR HOUSING CORPORATION WAS ORGANIZED ON SEPTEMBER 4, 1996 AS A CALIFORNIA NON-STOCK, NONPROFIT CORPORATION FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE PROJECT CONSISTS OF 42 UNITS LOCATED IN PACIFICA, CALIFORNIA AND IS CURRENTLY OPERATING UNDER THE NAME OF OCEANA TERRACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Bayley Assistant Secretary/director | OfficerTrustee | 1 | $0 |
Barbara Gualco Vice President/director | OfficerTrustee | 1 | $0 |
Joseph Rosenblum Secretary/director | OfficerTrustee | 1 | $0 |
Melissa Clayton Vice President/director | OfficerTrustee | 1 | $0 |
Ramie Dare Chair/vp/director | OfficerTrustee | 1 | $0 |
Bruce Saab Vice President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $670,459 |
| Government grants | $350,302 |
| 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 | $1,020,761 |
| Total Program Service Revenue | $196,817 |
| Investment income | $113 |
| 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 | $1,217,691 |
| 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 | $121,273 |
| Pension plan accruals and contributions | $5,766 |
| Other employee benefits | $19,421 |
| Payroll taxes | $9,815 |
| Fees for services: Management | $34,272 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,500 |
| Advertising and promotion | $0 |
| Office expenses | $19,706 |
| Information technology | $1,431 |
| Royalties | $0 |
| Occupancy | $127,176 |
| Travel | $312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $204 |
| Interest | $36,690 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $185,849 |
| Insurance | $0 |
| All other expenses | $344 |
| Total functional expenses | $684,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,175 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,838 |
| 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 | $13,048 |
| Net Land, buildings, and equipment | $1,366,389 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $212,163 |
| Total assets | $1,669,613 |
| Accounts payable and accrued expenses | $104,300 |
| Grants payable | $0 |
| Deferred revenue | $1,673 |
| 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 | $1,625,108 |
| Other liabilities | $64,764 |
| Total liabilities | $1,795,845 |
| Net assets without donor restrictions | -$126,232 |
| 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 | $1,669,613 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Oceana Senior Housing Corporation has recieved totaling $670,184.
| Awarding Organization | Amount |
|---|---|
Mercy Housing Inc Denver, CO PURPOSE: LOW-INCOME HOUSING | $670,184 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tempe Life Care Village Inc Tempe, AZ | $225,266,079 | $48,647,054 |
Bethesda Foundation Colorado Springs, CO | $104,909,820 | $43,407,177 |
Lakeview Village Inc Lenexa, KS | $137,708,063 | $49,070,478 |
La Posada At Park Centre Inc Green Valley, AZ | $182,054,249 | $47,958,568 |
Frasier Meadows Manor Inc Boulder, CO | $252,296,856 | $40,732,560 |
Beatitudes Campus Of Care Phoenix, AZ | $120,319,049 | $33,436,636 |
People Of Faith Inc Sun City, AZ | $251,643,138 | $33,088,460 |
Bslc Ii Colorado Springs, CO | $101,154,124 | $30,600,534 |
Larksfield Place Retirement Communities Inc Wichita, KS | $52,859,205 | $27,697,106 |
Immanuel Caring Ministries Inc Peoria, AZ | $33,992,239 | $28,756,705 |
Friendship Retirement Corporation Glendale, AZ | $25,414,864 | $27,946,854 |
Central Oklahoma United Methodist Retirement Facility Inc Oklahoma City, OK | $92,530,594 | $26,932,223 |