Covia Affordable Communities
- Assets
- $17.0m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 103
- Location
- Walnut Creek, CA
- Founding
- 09/2002
- Data as of
- 03/2022
- 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 03/2022, Covia Affordable Communities employed 103 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 03/2022, 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 19.3% each year . All expenses for the organization totaled $4.6m during the year ending 03/2022. 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
2022
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 1,213 PEOPLE WERE SERVED DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Benson Housing Administrator | 20 | $140,198 | |
Lee Doris Housing Administrator | 20 | $124,800 | |
Emslie Stephen Chairman | OfficerTrustee | 1 | $0 |
Mcgovern Marion Vice Chairman | OfficerTrustee | 1 | $0 |
Schaefer Ronald COO (thru 2/22) | Officer | 0.1 | $0 |
Sultan Karim VP Of Affordable Housing | Officer | 7 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adp Insurance Agency Medical Services | 3/30/22 | $809,947 |
Covia Communities Management Services | 3/30/22 | $900,200 |
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 | $3,641,189 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $270 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,641,459 |
| Total Program Service Revenue | $4,757,225 |
| Investment income | $745 |
| 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 | $8,399,429 |
| 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 | $2,342,329 |
| Pension plan accruals and contributions | $209,577 |
| Other employee benefits | $219,144 |
| Payroll taxes | $175,852 |
| Fees for services: Management | $900,200 |
| Fees for services: Legal | $12,403 |
| Fees for services: Accounting | $29,176 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $233,390 |
| Advertising and promotion | $33,999 |
| Office expenses | $50,293 |
| Information technology | $14,702 |
| Royalties | $0 |
| Occupancy | $46,868 |
| Travel | $21,130 |
| 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 | $12,968 |
| Insurance | $15,971 |
| All other expenses | $246,668 |
| Total functional expenses | $4,567,149 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,949,346 |
| Savings and temporary cash investments | $1,415,871 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $467,500 |
| 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 | $2,868 |
| Net Land, buildings, and equipment | $12,068 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,145,752 |
| Total assets | $16,993,405 |
| Accounts payable and accrued expenses | $889,509 |
| 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 | $838,588 |
| Total liabilities | $1,728,097 |
| Net assets without donor restrictions | $15,265,308 |
| 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 | $16,993,405 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hollenbeck Palms Los Angeles, CA | $91,601,425 | $22,351,666 |
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 |