Pasadena Rhf Housing Inc
- Assets
- $0.0
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 06/1989
- Data as of
- 07/2020
- EIN
- 95-3915619
Organization Overview
Pasadena Rhf Housing Inc, operating under the name The Concord, is located in Long Beach, CA. The organization was established in 1989. 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. Concord 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 07/2020, Concord generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $1.2m during the year ending 07/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PASADENA RHF HOUSING, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 149 UNIT COMMUNITY KNOWN AS THE CONCORD LOCATED IN PASADENA, CALIFORNIA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. DURING THE YEAR ENDED JULY 31, 2017, THE MORTGAGE WAS PAID IN FULL.ON MAY 28, 2020 THE PROPERTY WAS TRANSFERRED TO THE CITY OF PASADENA AND ULTIMATELY SOLD TO A NEW LIMITED PARTNERSHIP, CONCORD RHF PARTNERS LP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PASADENA RHF HOUSING, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 149 UNIT COMMUNITY KNOWN AS THE CONCORD LOCATED IN PASADENA, CALIFORNIA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. DURING THE YEAR ENDED JULY 31, 2017, THE MORTGAGE WAS PAID IN FULL.ON MAY 28, 2020 THE PROPERTY WAS TRANSFERRED TO THE CITY OF PASADENA AND ULTIMATELY SOLD TO A NEW LIMITED PARTNERSHIP, CONCORD RHF PARTNERS LP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darryl M Sexton Vice President | OfficerTrustee | 0.2 | $0 |
Frank G Jahrling Treasurer | OfficerTrustee | 0.2 | $0 |
Dr Laverne R Joseph President, CEO | Officer | 0.2 | $0 |
Deborah J Stouff VP Of Corp. Records, Corp. | Officer | 0.2 | $0 |
Robert R Amberg Sr VP General Counsel | Officer | 0.2 | $0 |
Stuart J Hartman Sr VP Housing Operations | Officer | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $783,982 |
| Investment income | $19,913 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,744,320 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,066,043 |
| Statement of Expenses | |
|---|---|
| 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 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 | $144,365 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $493 |
| Office expenses | $44,737 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $537,301 |
| Travel | $722 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100 |
| Interest | $5,372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,038 |
| Insurance | $5,693 |
| All other expenses | $0 |
| Total functional expenses | $1,205,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $0 |
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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 |