Montecedro INC: FY2023 Nonprofit Profile & Form 990 (EIN 27-0707394)

Name	FY2023	FY2023	FY2022	FY2021	FY2020
David Weidert	$334,255	$317,136	$295,256	$290,661	$239,246
Elizabeth Saldebar	$189,908	$231,845	$141,891	—	—
Ruben Alvarado	$156,878	$161,191	$119,161	$120,022	$116,872
Sergeyev Ruzanna	$148,572	$138,333	—	—	—
Stacy Wolf	—	—	—	—	$134,671
Bruno Molina	$134,369	$130,669	$120,580	—	—
Kristine Hillary	—	—	$126,588	$126,078	$118,244

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides housing and care for older adults, ensuring their health and financial security.

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1 program · $20.8M · in their own filed words · FY2022

01

MC inc. Was created to operate housing specially designed for older adults, with arrangements for resident's health care and financial security, and otherwise to promote the interest and serve the needs of older adults.

$20.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2020

Ecs Supportive Fund ManagementFY2020$14K

Total grants receivedfrom 1 funder$14K

By the numbers

The FY2023 990, line by line.

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1The main four

Money inPt VIII

$24.1M

Ln 12

Fees for servicesLn 2g$21.9M

Investment incomeLn 3$2.2M

Gifts and grantsLn 1h$33K

Money outPt IX

$24.5M

Ln 25

Programscol B$20.8M

Managementcol C$3.7M

Fundraisingcol D$7K

Owns and owesPt X

$6.8M

net assets · Ln 32

Cash and savingsLn 1–2$3.5M

Total assetsLn 16$184.0M

LiabilitiesLn 26$177.2M

PeoplePt VI, VII

26

listed · VII A

PaidVII A5

Voting boardVI 1a13

IndependentVI 1b12

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$33K

Fees for servicesLn 2g$21.9M

Investment incomeLn 3$2.2M

Other incomeLn 4–11$30K

Gains on assetsLn 7$995K

Total revenueLn 12$24.1M

Assets in detailPt X, end of year

CashLn 1$3.5M

Cash and savings togetherLn 1–2$3.5M

InvestmentsLn 11–13$40.9M

Land, buildings, equipmentLn 10c$133.3M

Other assetsLn 15$4.1M

Total assetsLn 16$184.0M

LiabilitiesLn 26$177.2M

Net assetsLn 32$6.8M

OperationsPt I, VI

EmployeesI 50

VolunteersI 651

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$4.5M	$3.5M
InvestmentsLn 11–13	$36.5M	$40.9M
Land, buildings, equipmentLn 10c	$134.6M	$133.3M
Total assetsLn 16	$184.4M	$184.0M
LiabilitiesLn 26	$180.0M	$177.2M
Net assetsLn 32	$4.4M	$6.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$346K		$346K
Other salaries and wagesLn 7	$6.9M	$5.4M	$1.5M
Pension plan contributionsLn 8	$384K	$238K	$142K	$3K
Other employee benefitsLn 9	$1.2M	$964K	$201K	$2K
Payroll taxesLn 10	$1.3M	$1.0M	$222K	$2K
Legal feesLn 11b	$117K		$117K
Accounting feesLn 11c	$11K		$11K
Investment management feesLn 11f	$56K		$56K
Other fees for servicesLn 11g	$3.7M	$3.2M	$498K
Advertising and promotionLn 12	$229K	$197K	$31K
Office expensesLn 13	$597K	$514K	$84K
OccupancyLn 16	$1.1M	$1.1M	$30K
TravelLn 17	$46K	$11K	$35K
Conferences, conventions and meetingsLn 19	$721K	$681K	$40K
InterestLn 20	$1.4M	$1.4M	$21K
Depreciation, depletion and amortizationLn 22	$5.5M	$5.4M	$80K
InsuranceLn 23	$484K	$473K	$11K
All other expensesLn 24e	$629K	$308K	$321K
Total functional expensesLn 25	$24.5M	$20.8M	$3.7M	$7K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Viewing	$24.1M	$24.5M	−$387K	$6.8M	990 PDF
FY2022	$21.4M	$23.5M	−$2.1M	$4.4M	990 PDF
FY2021	$26.0M	$23.2M	$2.8M	$14.2M	990 PDF
FY2020	$19.9M	$21.8M	−$1.9M	$9.7M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations

See the full FY2023 990 (6 parts)

Part I · Summary $24,146,502 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,845$33,140

I-9 Program service revenuePrior year $19,251,405$21,918,154

I-10 Investment incomePrior year $2,121,168$2,165,002

I-11 Other revenuePrior year $28,031$30,206

I-12 Total revenuePrior year $21,405,449$24,146,502

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $9,225,258$10,023,305

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $14,268,543$14,510,586

I-18 Total expensesPrior year $23,493,801$24,533,891

I-19 Revenue less expensesPrior year −$2,088,352−$387,389

Part VI · Governance 12 of 13 board members independent, no flags

VI-1a Voting members of the governing body13

VI-1b Independent voting members12

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $24,146,502 across 8 lines filed

VIII-1f All other contributions, gifts and grants$33,140

VIII-1h Total contributions, gifts and grants$33,140

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $21,918,154$21,918,154

VIII-3 Investment incomeExcluded from tax $1,169,861$1,169,861

VIII-6 Net rental income or lossExcluded from tax $18,963$18,963

VIII-7 Net gain or loss on sales of assetsExcluded from tax $995,141$995,141

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11,243$11,243

VIII-12 Total revenueRelated to mission $21,929,397 · Unrelated business $0 · Excluded from tax $2,183,965$24,146,502

Part IX · Statement of functional expenses $24,533,891 across 18 lines filed

IX-5 Pay of current officers, directors and key staffManagement $345,924$345,924

IX-7 Other salaries and wagesPrograms $5,382,979 · Management $1,473,546$6,856,525

IX-8 Pension plan contributionsPrograms $238,320 · Management $142,391 · Fundraising $3,088$383,799

IX-9 Other employee benefitsPrograms $963,986 · Management $200,770 · Fundraising $2,166$1,166,922

IX-10 Payroll taxesPrograms $1,046,639 · Management $221,747 · Fundraising $1,749$1,270,135

IX-11b Legal feesManagement $116,588$116,588

IX-11c Accounting feesManagement $11,235$11,235

IX-11f Investment management feesManagement $55,587$55,587

IX-11g Other fees for servicesPrograms $3,156,672 · Management $497,885$3,654,557

IX-12 Advertising and promotionPrograms $197,312 · Management $31,326$228,638

IX-13 Office expensesPrograms $513,615 · Management $83,530$597,145

IX-16 OccupancyPrograms $1,070,180 · Management $30,465$1,100,645

IX-17 TravelPrograms $11,305 · Management $34,772$46,077

IX-19 Conferences, conventions and meetingsPrograms $681,351 · Management $39,759$721,110

IX-20 InterestPrograms $1,381,780 · Management $20,537$1,402,317

IX-22 Depreciation, depletion and amortizationPrograms $5,382,963 · Management $80,005$5,462,968

IX-23 InsurancePrograms $473,157 · Management $11,125$484,282

IX-24e All other expensesPrograms $308,420 · Management $321,017$629,437

IX-25 Total functional expensesPrograms $20,808,679 · Management $3,718,209 · Fundraising $7,003$24,533,891

Part X · Balance sheet $184,046,760 assets, 19 lines filed

Asset lines not itemized here account for $1,138,883; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $4,462,969$3,539,939

X-4 Accounts receivableStart of year $318,305$586,593

X-8 Inventories for sale or useStart of year $113,167$112,890

X-9 Prepaid expenses and deferred chargesStart of year $440,181$239,372

X-10c Land, buildings and equipment, netStart of year $134,553,103$133,271,127

X-11 Publicly traded securitiesStart of year $36,459,420$40,915,274

X-12 Other securitiesStart of year $58,923$0

X-14 Intangible assetsStart of year $2,045,044$108,377

X-15 Other assetsStart of year $4,157,459$4,134,305

X-16 Total assetsStart of year $184,409,205$184,046,760

X-17 Accounts payable and accrued expensesStart of year $1,372,915$5,564,317

X-19 Deferred revenueStart of year $132,918,008$133,721,812

X-20 Tax-exempt bond liabilitiesStart of year $44,428,640$0

X-25 Other liabilitiesStart of year $1,286,687$37,960,815

X-26 Total liabilitiesStart of year $180,006,250$177,246,944

X-27 Net assets without donor restrictionsStart of year $4,260,161$6,640,854

X-28 Net assets with donor restrictionsStart of year $142,794$158,962

X-32 Total net assets or fund balancesStart of year $4,402,955$6,799,816

X-33 Total liabilities and net assetsStart of year $184,409,205$184,046,760

Part XI · Reconciliation of net assets $6,799,816 net assets at year end

XI-1 Total revenue$24,146,502

XI-2 Total expenses$24,533,891

XI-3 Revenue less expenses−$387,389

XI-4 Net assets at start of year$4,402,955

XI-5 Net unrealized gains (losses) on investments$2,795,508

XI-9 Other changes in net assets−$11,258

XI-10 Net assets at end of year$6,799,816

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Montecedro INC FY2023 filing

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Where the money goes

Who runs it and what they're paid

Compensation history total reportable pay by year · 7 named individuals · Part VII