Seaview Lutheran Plaza Inc
- Assets
- $42.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Corona Del Mar, CA
- Founding
- 03/1980
- Data as of
- 12/2023
- EIN
- 95-3161421
Organization Overview
Seaview Lutheran Plaza Inc is located in Corona Del Mar, CA. The organization was established in 1980. 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. Seaview Lutheran Plaza Inc 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 12/2023, Seaview Lutheran Plaza Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $2.6m during the year ending 12/2023. While expenses have increased by 9.2% per year over the past 9 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.
Since 2022, Seaview Lutheran Plaza Inc has awarded 19 individual grants totaling $4,256,320. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ON JULY 31,2021, THE ORGANIZATION SOLD THE HOUSING PROJECT AND PROCEEDS FROM SALE OF PROPERTY WILL USED THE FURTHER THE MISSION OF THE ASSOCIATED CHURCH. THE ORGANIZATION PLANS TO DISTRIBUTE (OVER A NUMBER OF YEARS) ALL PROCEEDS TO VARIOUS ASSOCIATED CHURCHES AND OTHER NON-PROFIT ORGANIZATION THAT MEETS THE MISSION OF THE ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1521 FOUNDATION LLC, A SINGLE MEMBER LIMITED LIABILITY COMPANY - FORMED IN THE STATE OF WYOMING FEIN #88-1396947 AND WY ID #2022-XXX-XX-XXXX. THE SINGLE MEMBER LLC IS WHOLLY OWNED BY SEAVIEW LUTHERN PLAZA INC. THE LLC INVESTS IN STOCK, BONDS, AND MUTUAL FUNDS USING THE PROCEEDS OF THE INVESTMENTS TO FURTHER THE MISSION OF THE ASSOCIATED CHURCH. THE ORGANIZATION PLANS TO DISTRIBUTE (OVER A NUMBER OF YEARS) ALL PROCEEDS TO VARIOUS RELIGIOUS, CHARITIABLE AND/OR SCIENTIFIC NON-PROFIT ORGANIZATIONS THAT MEETS THE MISSION OF THE ORGANIZATION.
THE ORGANIZATION AND ITS SOLE PASS THROUGH ENTITY - 1521 FOUNDATION, LLC HAS BEEN ORGANIZED TO PROVIDE FINANCIAL ASSISTANCE AND SUPPORT TO VARIOUS CHURCHES AND NON-PROFIT ORGANIZATIONS THAT SHARE THE SAME VISION AND CHARITABLE NATURE. FUNDS NEEDED TO ACHIEVE THIS MISSIONS COMES FROM THE PROCEEDS FROM SALE THE HOUSING PROJECT SEAVIEW LUTHERAN PLAZA, INC., OWNED AND SOLD IN JULY 2021 ALONGWITH WITH THE INVESTMENT INCOME IT EARNS FROM ITS PRINCIPAL INVESTMENT IN THESE ACCOUNTS. THE ORGANIZATION PLANS TO DISTRIBUTE (OVER A NUMBER OF YEARS) ALL PROCEEDS TO VARIOUS RELIGIOUS,CHARITABLE AND / OR SCIENTIFIC NON-PROFIT ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Satermo Pres. & Llc Mgr | OfficerTrustee | 2 | $90,000 |
Dorothea Sue Silavs Treas/grant Mbr | OfficerTrustee | 1 | $11,900 |
Louise Sawyer Dir/grant Co Mb | Trustee | 0 | $9,550 |
Julie R Lelo Grant Comm Mbr | Trustee | 0 | $9,550 |
Rev Mark C Anderson Grant Comm Mbr | Trustee | 0 | $9,250 |
Brent Gordon Grant Comm Mbr | Trustee | 0 | $7,200 |
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 | $0 |
| Investment income | $1,015,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $347,922 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,363,794 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,305,338 |
| 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. | $137,450 |
| Compensation of current officers, directors, key employees. | $137,450 |
| 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 | $112,968 |
| Fees for services: Legal | $2,250 |
| Fees for services: Accounting | $3,440 |
| 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 | $835 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,274 |
| All other expenses | $0 |
| Total functional expenses | $2,566,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,646,575 |
| Savings and temporary cash investments | $40,924,216 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,570,791 |
| Accounts payable and accrued expenses | $1,311 |
| 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 | $0 |
| Total liabilities | $1,311 |
| Net assets without donor restrictions | $42,569,480 |
| 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 | $42,570,791 |
Grants Awarded
Over the last fiscal year, Seaview Lutheran Plaza Inc has awarded $2,305,338 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
CHARITY ON WHEELS | | | $50,000 |
GRANDVIEW UNIVERSITY | | | $110,000 |
EMMANUEL LUTHERAN CHURCH LAH | | | $10,000 |
LUTHER HOUSE OF STUDY | | | $1,112,500 |
LUTHERAN CHURCH OF MASTER | | | $719,188 |
NEW REFORMATION PUBLICATIONS | | | $100,000 |