Covia Affordable Communities
- Assets
- $20.5m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 35
- Location
- Walnut Creek, CA
- Founding
- 09/2002
- Data as of
- 03/2023
- EIN
- 94-3382412
Organization Overview
Covia Affordable Communities is located in Walnut Creek, CA. The organization was established in 2002. 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 03/2023, Covia Affordable Communities employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covia Affordable Communities 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 03/2023, Covia Affordable Communities generated $8.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $4.6m during the year ending 03/2023. While expenses have increased by 14.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SENIOR COMMUNITIES WITH QUALITY HOUSING, ASSISTED LIVING, SOCIAL & HEALTH CARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT PROGRAMS - TO PROVIDE ORGANIZATIONAL AND FACILITIES MANAGEMENT SERVICES TO ITS SUBSIDIARY NONPROFIT PUBLIC BENEFIT CORPORATIONS THAT PROVIDE HEALTH CARE SERVICES, SUPPORTIVE SERVICES AND/OR HOUSING TO LOW-INCOME PERSONS, THE ELDERLY AND OTHERS WITH SPECIAL NEEDS. TOTAL OF 1,215 PEOPLE WERE SERVED DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donnelly Ken Chair | OfficerTrustee | 1 | $0 |
Emslie Stephen Chair (thru 02/23) | OfficerTrustee | 1 | $0 |
Mcgovern Marion Vice Chair | OfficerTrustee | 1 | $0 |
Jimenez Carlos Director | Trustee | 1 | $0 |
Kennison Margol Director | Trustee | 1 | $0 |
Kroeker Kevin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Covia Communities Management Services | 3/30/22 | $900,200 |
Adp Insurance Agency Medical Services | 3/30/22 | $809,947 |
Hott Solutions Consulting Services | 3/30/22 | $245,540 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,433,135 |
| 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 | $3,433,135 |
| Total Program Service Revenue | $5,009,346 |
| Investment income | $703 |
| 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 | $8,443,184 |
| 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 | $2,528,799 |
| Pension plan accruals and contributions | $90,921 |
| Other employee benefits | $215,600 |
| Payroll taxes | $296,479 |
| Fees for services: Management | $900,200 |
| Fees for services: Legal | $120 |
| Fees for services: Accounting | $56,862 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $244,598 |
| Advertising and promotion | $5,820 |
| Office expenses | $23,087 |
| Information technology | $86,933 |
| Royalties | $0 |
| Occupancy | $35,820 |
| Travel | $47,566 |
| 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 | $8,846 |
| Insurance | $8,605 |
| All other expenses | $18,388 |
| Total functional expenses | $4,568,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,990,243 |
| Savings and temporary cash investments | $1,416,574 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $590,527 |
| 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 | $54,987 |
| Net Land, buildings, and equipment | $6,390 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,421,101 |
| Total assets | $20,479,822 |
| Accounts payable and accrued expenses | $861,282 |
| 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 | $478,868 |
| Total liabilities | $1,340,150 |
| Net assets without donor restrictions | $19,139,672 |
| 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 | $20,479,822 |