Centennial Village Corporation
- Assets
- $9.4m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Mesa, AZ
- Founding
- 08/1981
- Data as of
- 12/2023
- EIN
- 95-3272900
Organization Overview
Centennial Village Corporation is located in Mesa, AZ. The organization was established in 1981. According to its NTEE Classification (A84) the organization is classified as: Commemorative Events, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Centennial Village Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centennial Village 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 12/2023, Centennial Village Corporation generated $2.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $4.9m during the year ending 12/2023. 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
THE ORGANIZATIONS ONLY MISSION, AS OUTLINED IN ITS ARTICLES OF INCORPORATION, IS TO PROVIDE A SAFE, COMFORTABLE, AND AFFORDABLE APARTMENT COMMUNITY FOR SENIOR ADULTS, 62 YEARS AND OLDER, WITH THE ASSISTANCE OF FUNDING THROUGH A CONTRACT WITH HUD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATIONS NONPROFIT STATUS, AND SUPPORT FROM ITS FEDERAL HOUSING CONTRACTS, HAVE ALLOWED THE ORGANIZATION TO CARRY OUT THE SINGLE PURPOSE OF PROVIDING HOUSING FOR LOW-INCOME SENIORS. ALL OF THE SECTION 8 INCOME IS DEDICATED TO THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Cheney President And CEO | OfficerTrustee | 60 | $317,578 |
Craig Cheney Executive Chairman | Trustee | 40 | $219,611 |
Judi Ward Director | Trustee | 1 | $0 |
Jerry Ferguson Secretary | OfficerTrustee | 1 | $0 |
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 | $2,174,673 |
| Investment income | $6,889 |
| 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 | $2,181,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,934,593 |
| 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. | $537,189 |
| Compensation of current officers, directors, key employees. | $63,516 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $265,837 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,054 |
| Payroll taxes | $47,478 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,479 |
| Fees for services: Accounting | $14,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,000 |
| Office expenses | $41,993 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $276,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $395 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,532 |
| Insurance | $64,205 |
| All other expenses | $11,926 |
| Total functional expenses | $4,887,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,342 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,358 |
| 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 | $200,950 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,024,679 |
| Total assets | $9,408,329 |
| Accounts payable and accrued expenses | $58,388 |
| 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 | $9,020,525 |
| Total liabilities | $9,078,913 |
| Net assets without donor restrictions | $329,416 |
| 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 | $9,408,329 |
Grants Awarded
Over the last fiscal year, Centennial Village Corporation has awarded $8,959,726 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
130 WEST BROWN ROAD LLC PURPOSE: Low-income housing to be leased back | $7,200,000 |
CENTURY FUND CORPORATION | | | $1,759,726 |