Century Affordable Development Inc
- Assets
- $55.1m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Culver City, CA
- Founding
- 03/1998
- Data as of
- 12/2022
- EIN
- 95-4648166
Organization Overview
Century Affordable Development Inc is located in Culver City, CA. The organization was established in 1998. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Century Affordable Development 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 12/2022, Century Affordable Development Inc generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 47.4% each year . All expenses for the organization totaled $3.3m during the year ending 12/2022. While expenses have increased by 48.3% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE AND DEVELOP REAL PROPERTY AS AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ACQUIRED AND SOLD PROPERTIES TO MAINTAIN AFFORDABLE HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan R Hoffman Vice President & Director | OfficerTrustee | 1 | $0 |
Brian Nicholas Dandrea President & Director | OfficerTrustee | 19.5 | $0 |
Ronald Griffith Vice President & Director | OfficerTrustee | 1 | $0 |
Oscar Alvarado Vice President | Officer | 1 | $0 |
Karen Bennett-Green Vice President | Officer | 1 | $0 |
Steven A Colman Vice President | Officer | 0 | $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 | $3,963,510 |
| Investment income | $300,284 |
| 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 | $4,263,794 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,326,256 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $739,995 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,949 |
| Advertising and promotion | $4,523 |
| Office expenses | $120,908 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,839 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,540 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,027 |
| Insurance | $18,353 |
| All other expenses | $0 |
| Total functional expenses | $3,338,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,699 |
| Savings and temporary cash investments | $1,784,094 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $295,561 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $32,599,942 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $147,589 |
| Net Land, buildings, and equipment | $1,977,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,260,443 |
| Intangible assets | $0 |
| Other assets | $12,924,749 |
| Total assets | $55,057,977 |
| Accounts payable and accrued expenses | $1,141,832 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $9,685 |
| 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 | $7,826,093 |
| Total liabilities | $8,977,610 |
| Net assets without donor restrictions | $46,080,367 |
| 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 | $55,057,977 |