Aof-Golden State Community Developm

Tax-deductible

Huntingtn Bch, CA501(c)(3)EIN 33-0861387Revenue $379K in FY2024

On file with the IRSaofgoldenstate.com7755 Center Ave Ste 575, 92647-3068 · Huntingtn Bch, CATax-exempt since Jan 1985Publicly supported charity — 170(b)(1)(A)(vi)

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To acquire, rehabilitate, rent and sell affordable housing to low-income, elderly, and/or mentally or physically challenged persons or families.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$150K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $61K a year · 18% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$150K
to officers and key staff · 35% of spending
Concern: pay to officers and key staff is 35% of spending; over 30%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.7M
122% of total assets
Concern: liabilities are 122% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$379K
-8% vs prior year
Spent
$425K
To programs
95%
Net assets
−$494K
By yearFY2020–FY2024
Revenue
$379K
FY2024▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$272K
FY2021$250K
FY2022$367K
FY2023$414K
FY2024$379K
Expenses
$425K
FY2024▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$379K
FY2021$379K
FY2022$416K
FY2023$388K
FY2024$425K
Net assets
−$494K
FY2024▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020−$296K
FY2021−$424K
FY2022−$473K
FY2023−$448K
FY2024−$494K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $403K Management & general 5% · $22K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $150K paid to officers and key staff.

Part VII, Section A · reportable compensation
Vice President
$149,583Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Svp-Finance, Trustee
$0Pt VII · Sec A
Secretary, Trustee
$0Pt VII · Sec A
President, Trustee
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Ajay Nayer$149,583$134,792$132,044$118,383$113,388

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 affordable housing through acquisition, rehabilitation, rental, and sales.

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Provided by the organization

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3 programs · $403K · in their own filed words · FY2024
01

Rental properties are rehabilitated and leased to provide affordable housing to low-income, elderly AND/OR mentally or physically challenged persons or families.

$250Kprogram expense
02

To provide eleven affordable rental units to low-income and very low-income seniors in alhambra.

$153Kprogram expense
03

Operation of two apartment buildings for low income tenants.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$379K
Ln 12
Fees for servicesLn 2g$379K
Investment incomeLn 3$81
Money outPt IX
$425K
Ln 25
Programscol B$403K
Managementcol C$22K
Owns and owesPt X
−$494K
net assets · Ln 32
Cash and savingsLn 1–2$262K
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.7M
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$379K
Investment incomeLn 3$81
Total revenueLn 12$379K
Assets in detailPt X, end of year
CashLn 1$262K
Cash and savings togetherLn 1–2$262K
InvestmentsLn 11–13$179K
Land, buildings, equipmentLn 10c$1.7M
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.7M
Net assetsLn 32−$494K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
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
LineStart FY24End FY24
Cash and savingsLn 1–2$482K$262K
InvestmentsLn 11–13$160K$179K
Land, buildings, equipmentLn 10c$1.8M$1.7M
Total assetsLn 16$2.4M$2.2M
LiabilitiesLn 26$2.9M$2.7M
Net assetsLn 32−$448K−$494K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$156K$141K$16K
Pension plan contributionsLn 8$12K$11K$1K
Other employee benefitsLn 9$10K$9K$960
Payroll taxesLn 10$12K$10K$1K
Management feesLn 11a$50K$50K
Office expensesLn 13$4K$3K$357
Information technologyLn 14$4K$4K$413
OccupancyLn 16$5K$5K$545
TravelLn 17$1K$1K
InterestLn 20$8K$8K
Depreciation, depletion and amortizationLn 22$59K$59K
InsuranceLn 23$807$726$81
Other expenses (24a–d)Ln 24$103K$101K$1K
All other expensesLn 24e$1K$442$675
Total functional expensesLn 25$425K$403K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $379K$425K−$46K−$494K 990 PDF
FY2023 $414K$388K$26K−$448K 990 PDF
FY2022 $367K$416K−$49K−$473K 990 PDF
FY2021 $250K$379K−$128K−$424K 990 PDF
FY2020 $272K$379K−$107K−$296K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $378,999 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $413,381$378,918
I-10 Investment incomePrior year $228$81
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $413,609$378,999
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 $171,179$189,503
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $216,901$235,822
I-18 Total expensesPrior year $388,080$425,325
I-19 Revenue less expensesPrior year $25,529−$46,326
Part VI · Governance 3 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
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 $378,999 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $378,918$378,918
VIII-3 Investment incomeExcluded from tax $81$81
VIII-12 Total revenueRelated to mission $378,918 · Unrelated business $0 · Excluded from tax $81$378,999
Part IX · Statement of functional expenses $425,325 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $140,678 · Management $15,631$156,309
IX-8 Pension plan contributionsPrograms $10,800 · Management $1,200$12,000
IX-9 Other employee benefitsPrograms $8,640 · Management $960$9,600
IX-10 Payroll taxesPrograms $10,435 · Management $1,159$11,594
IX-11a Management feesPrograms $49,602$49,602
IX-13 Office expensesPrograms $3,213 · Management $357$3,570
IX-14 Information technologyPrograms $3,717 · Management $413$4,130
IX-16 OccupancyPrograms $4,903 · Management $545$5,448
IX-17 TravelPrograms $1,464$1,464
IX-20 InterestPrograms $7,836$7,836
IX-22 Depreciation, depletion and amortizationPrograms $59,093$59,093
IX-23 InsurancePrograms $726 · Management $81$807
IX-24 Other expenses (24a–d)Programs $101,358 · Management $1,397$102,755
IX-24e All other expensesPrograms $442 · Management $675$1,117
IX-25 Total functional expensesPrograms $402,907 · Management $22,418 · Fundraising $0$425,325
Part X · Balance sheet $2,202,965 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $481,594$262,135
X-4 Accounts receivableStart of year $26,640$40,364
X-9 Prepaid expenses and deferred chargesStart of year $4,176$3,641
X-10c Land, buildings and equipment, netStart of year $1,773,800$1,715,321
X-12 Other securitiesStart of year $160,100$179,250
X-14 Intangible assetsStart of year $2,868$2,254
X-16 Total assetsStart of year $2,449,178$2,202,965
X-17 Accounts payable and accrued expensesStart of year $34,902$40,308
X-19 Deferred revenueStart of year $2,143$703
X-25 Other liabilitiesStart of year $213,035$39,700
X-26 Total liabilitiesStart of year $2,896,757$2,696,870
X-27 Net assets without donor restrictionsStart of year −$447,579−$493,905
X-32 Total net assets or fund balancesStart of year −$447,579−$493,905
X-33 Total liabilities and net assetsStart of year $2,449,178$2,202,965
Part XI · Reconciliation of net assets −$493,905 net assets at year end
XI-1 Total revenue$378,999
XI-2 Total expenses$425,325
XI-3 Revenue less expenses−$46,326
XI-4 Net assets at start of year−$447,579
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$493,905

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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