1010 Development Corporation
- Assets
- $5.1m
- Revenue
- $756.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Los Angeles, CA
- Founding
- 04/1992
- Data as of
- 12/2021
- EIN
- 95-4345495
Organization Overview
1010 Development Corporation is located in Los Angeles, CA. The organization was established in 1992. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2021, 1010 Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1010 Development 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 12/2021, 1010 Development Corporation generated $756.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $428.0k during the year ending 12/2021. While expenses have increased by 5.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE, CONSTRUCT AND MANAGE QUALITY SERVICE-ENRICHED AFFORDABLE HOUSING, AS WELL AS ENGAGE IN OVERALL COMMUNITY AND ECONOMIC DEVELOPMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT OF MULTIPLE SENIOR AND AFFORDABLE HOUSING PROJECTS IN DOWNTOWN LOS ANGELES. PROVIDING FINANCIAL, ACCOUNTING AND BOOKKEEPING SERVICES AND ASSISTANCE TO CHURCHES, LOW-INCOME HOUSING OWNERS, LIMITED PARTNERSHIPS AND NOT-FOR-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Buente President & CEO | Officer | 35 | $117,127 |
Matt Goulet Board Chair | OfficerTrustee | 1 | $0 |
Patricia Benson Corporate Secretary | OfficerTrustee | 1 | $0 |
Carrie Gillis Treasurer & CFO | OfficerTrustee | 1 | $0 |
Jennifer Gutierrez Board Member | Trustee | 1 | $0 |
Alexandre Sasha I Tsapin Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $96,791 |
| All other contributions, gifts, grants, and similar amounts not included above | $229,545 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $326,336 |
| Total Program Service Revenue | $429,283 |
| Investment income | $891 |
| 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 | $756,510 |
| 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. | $113,790 |
| Compensation of current officers, directors, key employees. | $13,655 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $129,711 |
| Pension plan accruals and contributions | $6,464 |
| Other employee benefits | $15,078 |
| Payroll taxes | $20,154 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,417 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $304 |
| Office expenses | $1,892 |
| 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 | $8,469 |
| Interest | $11,818 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,875 |
| Insurance | $26,847 |
| All other expenses | $1,982 |
| Total functional expenses | $427,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $585,333 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,996,111 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $718,889 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $579,364 |
| Intangible assets | $1,771 |
| Other assets | $0 |
| Total assets | $5,064,327 |
| Accounts payable and accrued expenses | $29,076 |
| 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 | $260,953 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,720,770 |
| Total liabilities | $4,010,799 |
| Net assets without donor restrictions | $1,053,528 |
| 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 | $5,064,327 |
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