Palo Alto Senior Housing Project Inc
- Assets
- $9.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 06/1965
- Data as of
- 12/2021
- EIN
- 94-6115413
Organization Overview
Palo Alto Senior Housing Project Inc, operating under the name Stevenson House, is located in Palo Alto, CA. The organization was established in 1965. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stevenson House 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, Stevenson House generated $1.2m 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 (30.2%) each year. All expenses for the organization totaled $14.8m during the year ending 12/2021. 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
PROVIDED 158 PEOPLE, OF LOW, VERY LOW AND EXTREMELY LOW INCOME, BELOW-MARKET HOUSING IN 120 STUDIO AND ONE BEDROOM UNITS AND SOCIAL AS WELL AS HEALTH ORIENTED ACTIVITIES TO THE RESIDENTS. ENHANCED SAFETY ISSUES FOR MULTI-LINGUAL RESIDENTS, WITH IN-UNIT MAPS FOR ANY NEEDED EVACUATION IN THE RESIDENT'S LANGUAGE. PROVIDE HEALTHY NUTRIOUS HOT LUNCH 5 DAYS A WEEK IN PARTNERSHIP WITH ANOTHER NON-PROFIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MANAGES AND OPERATES AN APARTMENT COMPLEX CONSISTING OF 120 UNITS FOR LOW-INCOME ELDERLY AND HANDICAPPED PERSONS UNDER HUD SECTION 202 OF THE NATIONAL HOUSING ACT, ON THE BEHALF OF THE PASHPI STEVENHOUSE LIMITED PARTNERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wang Vice President | OfficerTrustee | 6 | $0 |
Grace Mah President | OfficerTrustee | 15 | $0 |
Sally Mahoney Secretary | OfficerTrustee | 4 | $0 |
Mark Levi Treasurer | OfficerTrustee | 5 | $0 |
Grace Li Babian Director | Trustee | 3 | $0 |
David Chapple Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $200,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,864 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,864 |
| Total Program Service Revenue | $669,388 |
| Investment income | $285,070 |
| 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 | $1,163,322 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,678,455 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $12,854 |
| Fees for services: Legal | $11,701 |
| Fees for services: Accounting | $17,780 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $29,558 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $3,864 |
| Total functional expenses | $14,780,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,710 |
| Savings and temporary cash investments | $41,991 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $104,568 |
| 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 | $0 |
| Net Land, buildings, and equipment | $90,318 |
| Investments—publicly traded securities | $140,964 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,107,219 |
| Total assets | $9,912,770 |
| Accounts payable and accrued expenses | $14,313 |
| 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 | $985,237 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,758,997 |
| Total liabilities | $13,758,547 |
| Net assets without donor restrictions | -$3,845,777 |
| 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 | $9,912,770 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Palo Alto Senior Housing Project Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Human Services | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marys Woods At Marylhurst Inc Lake Oswego, OR | $331,910,754 | $44,154,309 |
Kahala Senior Living Community Inc Honolulu, HI | $275,964,895 | $44,365,985 |
Humangood Fresno Duarte, CA | $99,958,177 | $30,814,211 |
Mirabella At South Waterfront Portland, OR | $173,639,306 | $25,337,918 |
Humangood Nevada Duarte, CA | $70,139,943 | $27,024,940 |
Dallas Mennonite Retirement Community Inc Dallas, OR | $84,334,175 | $25,845,409 |
Mirabella At Asu Inc Tempe, AZ | $298,424,373 | $6,088,723 |
Humangood Idaho Duarte, CA | $92,297,372 | $17,990,575 |
Sun Health Grandview Terrace Sun City West, AZ | $62,483,785 | $23,188,169 |
Asian Pacific Health Care Venture Inc Los Angeles, CA | $31,429,576 | $29,795,515 |
Hollenbeck Palms Los Angeles, CA | $91,601,425 | $22,351,666 |
899 Charleston Palo Alto, CA | $143,487,864 | $17,017,896 |