Mid-Peninsula Ginzton INC

Tax-deductible

Foster City, CA501(c)(3)EIN 77-0292344Revenue $593K in FY2024

On file with the IRSmidpen-housing.org303 Vintage Park Dr Ste 250, 94404-1176 · Foster City, CATax-exempt since May 1992Supporting organization — 509(a)(3)

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In conjunction with related organizations, midpen housing corporation's mission is to provide safe, affordable housing of high quality to those in need, to establish stability and opportunity in the lives of residents, and to foster diverse communities that allow people from all ethnic, social and economic backgrounds to live in dignity, harmony and mutual respect.

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

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
4 of 5
filings with a surplus
Average surplus $126K a year · 20% of revenue · last 5 filings
Fine: a surplus in 4 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
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.9M
86% of total assets
Concern: liabilities are 86% of assets; over 80%.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$593K
-11% vs prior year
Spent
$590K
To programs
95%
Net assets
$311K
By yearFY2020–FY2024
Revenue
$593K
FY2024▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$534K
FY2021$562K
FY2022$765K
FY2023$667K
FY2024$593K
Expenses
$590K
FY2024▲ +26%
Tap a bar for its year
Expenses by fiscal year
FY2020$448K
FY2021$591K
FY2022$397K
FY2023$467K
FY2024$590K
Net assets
$311K
FY2024▲ +1.0%
Tap a bar for its year
Net assets by fiscal year
FY2020−$231K
FY2021−$260K
FY2022$108K
FY2023$308K
FY2024$311K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1992.

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% · $558K Management & general 5% · $32K

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

22 people listed on the 990.

Part VII, Section A · reportable compensation
Chairperson
$0Pt VII · Sec A
Vice Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mid-Peninsula Ginzton INC executive salaries →

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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 safe, affordable housing to create stability and foster diverse, respectful communities.

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Provided by the organization

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1 program · $558K · in their own filed words · FY2024
01

The organization is a general partner of ginzton associates, the farm associates and open doors associates,and a limited partner for MP central park associates, which owns and operates an apartment complex for the benefit of low income families.

$558Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $528K · 2020–2024
Midpen Housing CorporationCA · FY2024$100,000
Midpen Housing CorporationCA · FY2023$79,000
Midpen Housing CorporationCA · FY2022$92,000
Midpen Housing CorporationCA · FY2021$105,000
Midpen Housing CorporationCA · FY2020$152,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$593K
Ln 12
Fees for servicesLn 2g$490K
Gifts and grantsLn 1h$95K
Investment incomeLn 3$7K
Money outPt IX
$590K
Ln 25
Programscol B$558K
Managementcol C$32K
Owns and owesPt X
$311K
net assets · Ln 32
Cash and savingsLn 1–2$248K
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.9M
PeoplePt VI, VII
22
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$95K
Government grantsLn 1e$95K
Fees for servicesLn 2g$490K
Investment incomeLn 3$7K
Gains on assetsLn 7−$7K
Total revenueLn 12$593K
Assets in detailPt X, end of year
CashLn 1$100
SavingsLn 2$248K
Cash and savings togetherLn 1–2$248K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$444K
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.9M
Net assetsLn 32$311K
OperationsPt I, VI
EmployeesI 50
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$213K$248K
Land, buildings, equipmentLn 10c$1.5M$1.4M
Total assetsLn 16$2.3M$2.2M
LiabilitiesLn 26$2.0M$1.9M
Net assetsLn 32$308K$311K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$100K$100K
Other salaries and wagesLn 7$44K$44K
Pension plan contributionsLn 8$3K$3K
Other employee benefitsLn 9$6K$6K
Payroll taxesLn 10$4K$4K
Management feesLn 11a$26K$26K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$6K$6K
Office expensesLn 13$470$470
InterestLn 20$19K$19K
Depreciation, depletion and amortizationLn 22$59K$59K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$208K$208K
All other expensesLn 24e$99K$99K
Total functional expensesLn 25$590K$558K$32K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $593K$590K$3K$311K 990 PDF
FY2023 $667K$467K$200K$308K 990 PDF
FY2022 $765K$397K$368K$108K 990 PDF
FY2021 $562K$591K−$29K−$260K 990 PDF
FY2020 $534K$448K$87K−$231K 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 $592,593 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,304$95,286
I-9 Program service revenuePrior year $580,618$489,839
I-10 Investment incomePrior year −$17,298$7,468
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $666,624$592,593
I-13 Grants and similar amounts paidPrior year $79,000$100,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $57,248$56,367
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $330,593$433,228
I-18 Total expensesPrior year $466,841$589,595
I-19 Revenue less expensesPrior year $199,783$2,998
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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 $592,593 across 6 lines filed
VIII-1e Government grants$95,286
VIII-1h Total contributions, gifts and grants$95,286
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $489,839$489,839
VIII-3 Investment incomeExcluded from tax $14,423$14,423
VIII-7 Net gain or loss on sales of assetsRelated to mission −$6,955−$6,955
VIII-12 Total revenueRelated to mission $482,884 · Unrelated business $0 · Excluded from tax $14,423$592,593
Part IX · Statement of functional expenses $589,595 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $100,000$100,000
IX-7 Other salaries and wagesPrograms $44,403$44,403
IX-8 Pension plan contributionsPrograms $2,628$2,628
IX-9 Other employee benefitsPrograms $5,823$5,823
IX-10 Payroll taxesPrograms $3,513$3,513
IX-11a Management feesManagement $25,553$25,553
IX-11b Legal feesPrograms $2,410$2,410
IX-11c Accounting feesManagement $6,055$6,055
IX-13 Office expensesPrograms $470$470
IX-20 InterestPrograms $18,614$18,614
IX-22 Depreciation, depletion and amortizationPrograms $59,041$59,041
IX-23 InsurancePrograms $13,400$13,400
IX-24 Other expenses (24a–d)Programs $208,208$208,208
IX-24e All other expensesPrograms $99,477$99,477
IX-25 Total functional expensesPrograms $557,987 · Management $31,608 · Fundraising $0$589,595
Part X · Balance sheet $2,193,494 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $100$100
X-2 Savings and temporary cash investmentsStart of year $212,838$248,232
X-4 Accounts receivableStart of year $115,875$100,635
X-9 Prepaid expenses and deferred chargesStart of year $1,003$1,450
X-10c Land, buildings and equipment, netStart of year $1,453,847$1,399,235
X-15 Other assetsStart of year $507,539$443,842
X-16 Total assetsStart of year $2,291,202$2,193,494
X-17 Accounts payable and accrued expensesStart of year $55,847$28,516
X-25 Other liabilitiesStart of year $1,171,502$1,256,118
X-26 Total liabilitiesStart of year $1,983,408$1,882,702
X-27 Net assets without donor restrictionsStart of year $307,794$310,792
X-32 Total net assets or fund balancesStart of year $307,794$310,792
X-33 Total liabilities and net assetsStart of year $2,291,202$2,193,494
Part XI · Reconciliation of net assets $310,792 net assets at year end
XI-1 Total revenue$592,593
XI-2 Total expenses$589,595
XI-3 Revenue less expenses$2,998
XI-4 Net assets at start of year$307,794
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$310,792

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

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