Century Affordable Development Inc
- Assets
- $52.6m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Culver City, CA
- Founding
- 03/1998
- Data as of
- 12/2021
- 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 12/2021, Century Affordable Development Inc generated $7.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 67.9% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 50.5% 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 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 |
|---|---|---|---|
Ronald Griffith Vice President & Director | OfficerTrustee | 1 | $0 |
Alan R Hoffman Vice President & Director | OfficerTrustee | 1 | $0 |
Brian Nicholas Dandrea President & Director | OfficerTrustee | 19.5 | $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 | $6,378,561 |
| Investment income | $249,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $561,835 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,189,607 |
| 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 | $1,738,871 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $580,514 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,715 |
| Office expenses | $70,266 |
| Information technology | $16,749 |
| Royalties | $0 |
| Occupancy | $7,861 |
| Travel | $635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,680 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,531 |
| Insurance | $15,273 |
| All other expenses | $0 |
| Total functional expenses | $2,492,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,429 |
| Savings and temporary cash investments | $1,637,432 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $213,361 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $27,739,919 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,083,904 |
| Net Land, buildings, and equipment | $5,090,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,133,060 |
| Intangible assets | $0 |
| Other assets | $12,686,136 |
| Total assets | $52,641,583 |
| Accounts payable and accrued expenses | $1,152,880 |
| 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 | $5,718,395 |
| Total liabilities | $6,880,960 |
| Net assets without donor restrictions | $45,760,623 |
| 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 | $52,641,583 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Century Affordable Development Inc has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Thdf Ii Inc Atlanta, GA PURPOSE: To assist local charities | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eden Investments Inc Hayward, CA | $35,016,313 | $30,534,205 |
Turk Street Inc San Francisco, CA | $36,581,577 | $10,576,295 |
A Community Of Friends Los Angeles, CA | $60,441,352 | $19,454,068 |
Oregon Coast Community Action Coos Bay, OR | $16,109,030 | $18,585,692 |
Abode Communities Los Angeles, CA | $48,420,643 | $18,096,266 |
Habitat For Humanity Portland Metro East Portland, OR | $35,667,707 | $17,313,274 |
Vista Del Monte Affordable Housing Inc Keene, CA | $19,598,964 | $14,888,615 |
Rubicon Programs Inc Richmond, CA | $13,905,498 | $18,401,820 |
Sacramento Self-Help Housing Inc Sacramento, CA | $3,575,796 | $15,208,752 |
The Mortgage Capital Development Company Oakland, CA | $77,426,961 | $21,275,511 |
Century Housing Corporation Culver City, CA | $579,661,365 | $33,491,484 |
Oregon Affordable Housing Assistance Corporation Salem, OR | $27,410,918 | $14,226,353 |