Hollenbeck Palms FY2021 filing

Tax-deductible

Los Angeles, CA501(c)(3)Since 2001HousingEIN 71-0876594

Hollenbeck palms is committed to providing a residence for those in the later years of their lives that encompasses a healthy environment of comfort, safety, and enjoyment; that attends to their physical, mental, and spiritual needs.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$1.1M 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

FY2021 · 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
4 of 5
filings with a surplus
Average surplus $989K a year · 4% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $28K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$40.9M
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$22.4M
+22% vs prior year
Spent
$19.9M
To programs
78%
Net assets
$50.7M
By yearFY2020–FY2024
Revenue
$22.4M
FY2021▲ +22%
Revenue by fiscal year
FY2020$18.3M
FY2021$22.4M
FY2022$21.5M
FY2023$25.0M
FY2024$26.5M
FY2024$27.6M
Expenses
$19.9M
FY2021▲ +6%
Expenses by fiscal year
FY2020$18.8M
FY2021$19.9M
FY2022$20.5M
FY2023$23.7M
FY2024$25.7M
FY2024$26.4M
Net assets
$50.7M
FY2021▲ +22%
Net assets by fiscal year
FY2020$41.6M
FY2021$50.7M
FY2022$45.0M
FY2023$46.4M
FY2024$47.0M
FY2024$47.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2002.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $15.6M Management & general 21% · $4.1M Fundraising 1% · $168K

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

Who runs it and what they're paid

15 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President/CEO
$219,549Pt VII · Sec A
Chief Engineer
$173,035Pt VII · Sec A
Director of Nursing
$155,208Pt VII · Sec A
$140,834Pt VII · Sec A
Assistant Director of Nursing
$138,142Pt VII · Sec A
Admissions Director
$137,020Pt VII · Sec A
RN Charge Nurse
$123,063Pt VII · Sec A
Resident Representative
$0Pt VII · Sec A

Morris Shockley’s $234K as President & CEO is at the 57th percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Morris Shockley$233,848$238,721$220,033$219,194$219,549$183,533
Gary Zuppardo$201,532$193,764$191,390$185,742$173,035—
Akhere Osezua$195,384$189,131$158,305—$138,142—
Zhana Dubin$189,817$186,308$150,655$148,393$137,020$113,361
Ivania Ramirez$186,695$183,909$165,489$160,478$155,208$134,954
Johnny Young$161,943$169,453$152,037$149,196$140,834$131,971
Patricia Murphy——$168,762$78,252——
Odily Franklin$157,182—————

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 compassionate, dignified care and a rewarding lifestyle for elderly residents at all life stages.

Provided by the organization

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1 program service account for $15.6M of program spending, described in the organization's own filed words · FY2020.
01

Hollenbeck palms provides care for the aging, including residential, assisted living, and skilled nursing care living arrangements for their members. During the year, services were provided to approximately 200 members.

$15.6Mprogram expense

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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 · FY2025
Total grants receivedfrom 1 funder$28K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$22.4M
Ln 12
Fees for servicesLn 2g$14.6M
Investment incomeLn 3$4.1M
Gifts and grantsLn 1h$3.5M
Money outPt IX
$19.9M
Ln 25
Programscol B$15.6M
Managementcol C$4.1M
Fundraisingcol D$168K
Owns and owesPt X
$50.7M
net assets · Ln 32
Cash and savingsLn 1–2$4.8M
Total assetsLn 16$91.6M
LiabilitiesLn 26$40.9M
PeoplePt VI, VII
15
listed · VII A
PaidVII A7
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.5M
Government grantsLn 1e$2.1M
Noncash giftsLn 1g$40K
Fees for servicesLn 2g$14.6M
Investment incomeLn 3$4.1M
Other incomeLn 4–11$163K
Gains on assetsLn 7$3.3M
Total revenueLn 12$22.4M
Assets in detailPt X, end of year
CashLn 1$2.0M
SavingsLn 2$2.8M
Cash and savings togetherLn 1–2$4.8M
InvestmentsLn 11–13$46.3M
Land, buildings, equipmentLn 10c$38.5M
Total assetsLn 16$91.6M
LiabilitiesLn 26$40.9M
Net assetsLn 32$50.7M
OperationsPt I, VI
EmployeesI 5256
VolunteersI 610
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
LineStart FY21End FY21
Cash and savingsLn 1–2$7.9M$4.8M
InvestmentsLn 11–13$38.2M$46.3M
Land, buildings, equipmentLn 10c$35.7M$38.5M
Total assetsLn 16$83.6M$91.6M
LiabilitiesLn 26$41.9M$40.9M
Net assetsLn 32$41.6M$50.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$407K$195K$201K$12K
Other salaries and wagesLn 7$7.1M$6.0M$1.0M$109K
Pension plan contributionsLn 8$230K$210K$17K$3K
Other employee benefitsLn 9$1.9M$1.6M$260K$30K
Payroll taxesLn 10$613K$516K$88K$10K
Legal feesLn 11b$136K$136K
Accounting feesLn 11c$113K$113K
Investment management feesLn 11f$90K$90K
Other fees for servicesLn 11g$2.5M$1.8M$742K$649
Advertising and promotionLn 12$128K$128K
Office expensesLn 13$73K$73K
OccupancyLn 16$814K$795K$18K$670
TravelLn 17$41K$20K$21K$13
Conferences, conventions and meetingsLn 19$14K$6K$8K
InterestLn 20$1.2M$1.2M
Depreciation, depletion and amortizationLn 22$1.6M$1.5M$28K$1K
InsuranceLn 23$342K$334K$8K$282
Other expenses (24a–d)Ln 24$2.7M$2.7M
Total functional expensesLn 25$19.9M$15.6M$4.1M$168K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $26.5M$25.7M$747K$47.0M 990 PDF
FY2023 $25.0M$23.7M$1.3M$46.4M 990 PDF
FY2022 $21.5M$20.5M$981K$45.0M 990 PDF
FY2021 Viewing $22.4M$19.9M$2.5M$50.7M 990 PDF
FY2020 $18.3M$18.8M−$511K$41.6M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $22,351,666 across 11 lines filed
VIII-1e Government grants$2,149,466
VIII-1f All other contributions, gifts and grants$1,304,121
VIII-1g Noncash contributions (included above)$40,494
VIII-1h Total contributions, gifts and grants$3,453,587
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,618,615$14,618,615
VIII-3 Investment incomeExcluded from tax $849,145$849,145
VIII-5 RoyaltiesExcluded from tax $52,732$52,732
VIII-6 Net rental income or lossExcluded from tax $77,612$77,612
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,267,617$3,267,617
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $32,358$32,358
VIII-12 Total revenueRelated to mission $14,650,973 · Unrelated business $0 · Excluded from tax $4,247,106$22,351,666
Part IX · Statement of functional expenses $19,898,299 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $194,640 · Management $200,507 · Fundraising $12,047$407,194
IX-7 Other salaries and wagesPrograms $5,951,213 · Management $1,000,082 · Fundraising $109,079$7,060,374
IX-8 Pension plan contributionsPrograms $209,754 · Management $16,611 · Fundraising $3,234$229,599
IX-9 Other employee benefitsPrograms $1,587,107 · Management $259,970 · Fundraising $30,498$1,877,575
IX-10 Payroll taxesPrograms $515,522 · Management $87,803 · Fundraising $10,051$613,376
IX-11b Legal feesManagement $135,777$135,777
IX-11c Accounting feesManagement $113,129$113,129
IX-11f Investment management feesManagement $90,185$90,185
IX-11g Other fees for servicesPrograms $1,784,910 · Management $742,206 · Fundraising $649$2,527,765
IX-12 Advertising and promotionManagement $127,854$127,854
IX-13 Office expensesManagement $73,430$73,430
IX-16 OccupancyPrograms $794,913 · Management $18,389 · Fundraising $670$813,972
IX-17 TravelPrograms $19,893 · Management $21,122 · Fundraising $13$41,028
IX-19 Conferences, conventions and meetingsPrograms $5,881 · Management $7,731$13,612
IX-20 InterestManagement $1,179,883$1,179,883
IX-22 Depreciation, depletion and amortizationPrograms $1,527,181 · Management $28,481 · Fundraising $1,038$1,556,700
IX-23 InsurancePrograms $333,930 · Management $7,725 · Fundraising $282$341,937
IX-24 Other expenses (24a–d)Programs $2,694,909$2,694,909
IX-25 Total functional expensesPrograms $15,619,853 · Management $4,110,885 · Fundraising $167,561$19,898,299
Part X · Balance sheet $91,601,425 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $2,946,910$1,989,955
X-2 Savings and temporary cash investmentsStart of year $4,924,341$2,815,865
X-3 Pledges and grants receivableStart of year $3,993$103,982
X-4 Accounts receivableStart of year $1,374,312$1,556,804
X-8 Inventories for sale or useStart of year $105,848$97,570
X-9 Prepaid expenses and deferred chargesStart of year $295,354$284,735
X-10c Land, buildings and equipment, netStart of year $35,679,634$38,501,500
X-11 Publicly traded securitiesStart of year $33,931,150$39,149,031
X-12 Other securitiesStart of year $4,298,148$7,101,983
X-16 Total assetsStart of year $83,559,690$91,601,425
X-17 Accounts payable and accrued expensesStart of year $5,565,856$4,387,883
X-19 Deferred revenueStart of year $5,100,343$3,689,697
X-20 Tax-exempt bond liabilitiesStart of year $16,964,721$16,179,967
X-24 Unsecured notes and loans payableStart of year $1,479,100$0
X-25 Other liabilitiesStart of year $3,730,465$3,783,230
X-26 Total liabilitiesStart of year $41,945,222$40,867,722
X-27 Net assets without donor restrictionsStart of year $38,876,989$46,735,421
X-28 Net assets with donor restrictionsStart of year $2,737,479$3,998,282
X-32 Total net assets or fund balancesStart of year $41,614,468$50,733,703
X-33 Total liabilities and net assetsStart of year $83,559,690$91,601,425
Part XI · Reconciliation of net assets $50,733,703 net assets at year end
XI-1 Total revenue$22,351,666
XI-2 Total expenses$19,898,299
XI-3 Revenue less expenses$2,453,367
XI-4 Net assets at start of year$41,614,468
XI-5 Net unrealized gains (losses) on investments$5,504,167
XI-9 Other changes in net assets$1,161,701
XI-10 Net assets at end of year$50,733,703

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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