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Mid-Peninsula Pickering INC

Tax-deductible

Foster City, CA501(c)(3)EIN 94-3197474

In conjunction with related organizations, mid-peninsula pickering inc'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.
99¢ 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
0 of 5
filings with a surplus
Average deficit $3.8M a year · 228% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $352K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$53.1M
165% of total assets
Concern: liabilities are 165% 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
$2.8M
-15% vs prior year
Spent
$6.5M
To programs
99%
Net assets
−$20.9M
By yearFY2020–FY2024
Revenue
$2.8M
FY2024▼ -15%
Revenue by fiscal year
FY2020$727K
FY2021$1.0M
FY2022$474K
FY2023$3.4M
FY2024$2.8M
Expenses
$6.5M
FY2024▲ +40%
Expenses by fiscal year
FY2020$6.8M
FY2021$5.3M
FY2022$4.3M
FY2023$4.6M
FY2024$6.5M
Net assets
−$20.9M
FY2024▼ -21%
Net assets by fiscal year
FY2020−$7.9M
FY2021−$12.2M
FY2022−$16.0M
FY2023−$17.3M
FY2024−$20.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1994.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $6.4M Management & general 1% · $81K

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

Who runs it and what they're paid

22 people listed on the 990.

Part VII, Section A · reportable compensation
Eric Harrison
Chairperson
$0Pt VII · Sec A
Jessica Garcia-Kohl
Vice Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Melanie Mock
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mid-Peninsula Pickering 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 and fosters diverse, respectful communities for those in need.

Provided by the organization

This section is blank until Mid-Peninsula Pickering INC claims this page.

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1 program service account for $6.4M of program spending, described in the organization's own filed words · FY2024.
01

The organization is the general partner of pickering associates, a partnership which owns and operates an apartment complex for low income individuals and families. In addition, the organization is the sole member of MP century village LLC, MP laguna commons LLC, MP stevenson place LLC, MP oroysom LLC, MP sunset creek LLC, MP tice oaks…

$6.4Mprogram 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 · received and paid
Grants received · FY2024
Midpen Housing CorporationFY2024$352K
Total grants receivedfrom 1 funder$352K
Grants paid · 5 grants · $4.8M · 2020–2024
Midpen Housing CorporationCA · FY2024$1,075,000
Midpen Housing CorporationCA · FY2023$1,035,000
Midpen Housing CorporationCA · FY2022$1,044,000
Midpen Housing CorporationCA · FY2021$884,000
Midpen Housing CorporationCA · FY2020$792,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.8M
Ln 12
Fees for servicesLn 2g$2.3M
Gifts and grantsLn 1h$352K
Investment incomeLn 3$182K
Money outPt IX
$6.5M
Ln 25
Programscol B$6.4M
Managementcol C$81K
Owns and owesPt X
−$20.9M
net assets · Ln 32
Cash and savingsLn 1–2$2.5M
Total assetsLn 16$32.2M
LiabilitiesLn 26$53.1M
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$352K
Fees for servicesLn 2g$2.3M
Investment incomeLn 3$182K
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$2.5M
Cash and savings togetherLn 1–2$2.5M
InvestmentsLn 11–13$2.6M
Land, buildings, equipmentLn 10c$23.2M
Other assetsLn 15$1.2M
Total assetsLn 16$32.2M
LiabilitiesLn 26$53.1M
Net assetsLn 32−$20.9M
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$3.2M$2.5M
InvestmentsLn 11–13$2.2M$2.6M
Land, buildings, equipmentLn 10c$22.7M$23.2M
Total assetsLn 16$47.4M$32.2M
LiabilitiesLn 26$64.7M$53.1M
Net assetsLn 32−$17.3M−$20.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.1M$1.1M
Other salaries and wagesLn 7$123K$123K
Other employee benefitsLn 9$28K$28K
Payroll taxesLn 10$10K$10K
Management feesLn 11a$54K$54K
Legal feesLn 11b$11K$11K
Accounting feesLn 11c$27K$27K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$15K$15K
TravelLn 17$725$725
Payments to affiliatesLn 21$1.4M$1.4M
Depreciation, depletion and amortizationLn 22$443K$443K
InsuranceLn 23$70K$70K
Other expenses (24a–d)Ln 24$3.2M$3.2M
All other expensesLn 24e$88K$88K
Total functional expensesLn 25$6.5M$6.4M$81K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $2.8M$6.5M−$3.6M−$20.9M 990 PDF
FY2023 $3.4M$4.6M−$1.3M−$17.3M 990 PDF
FY2022 $474K$4.3M−$3.8M−$16.0M 990 PDF
FY2021 $1.0M$5.3M−$4.3M−$12.2M 990 PDF
FY2020 $727K$6.8M−$6.1M−$7.9M 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 (4 parts)
Part VIII · Statement of revenue $2,848,986 across 5 lines filed
VIII-1d Related organizations$351,830
VIII-1h Total contributions, gifts and grants$351,830
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,314,700$2,314,700
VIII-3 Investment incomeExcluded from tax $182,456$182,456
VIII-12 Total revenueRelated to mission $2,314,700 · Unrelated business $0 · Excluded from tax $182,456$2,848,986
Part IX · Statement of functional expenses $6,497,381 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $1,075,000$1,075,000
IX-7 Other salaries and wagesPrograms $123,191$123,191
IX-9 Other employee benefitsPrograms $28,298$28,298
IX-10 Payroll taxesPrograms $10,198$10,198
IX-11a Management feesManagement $53,760$53,760
IX-11b Legal feesPrograms $11,133$11,133
IX-11c Accounting feesManagement $27,080$27,080
IX-12 Advertising and promotionPrograms $3,009$3,009
IX-13 Office expensesPrograms $14,910$14,910
IX-17 TravelPrograms $725$725
IX-21 Payments to affiliatesPrograms $1,393,290$1,393,290
IX-22 Depreciation, depletion and amortizationPrograms $443,138$443,138
IX-23 InsurancePrograms $69,559$69,559
IX-24 Other expenses (24a–d)Programs $3,155,908$3,155,908
IX-24e All other expensesPrograms $88,182$88,182
IX-25 Total functional expensesPrograms $6,416,541 · Management $80,840 · Fundraising $0$6,497,381
Part X · Balance sheet $32,187,267 assets, 14 lines filed
Asset lines not itemized here account for $555,800; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,213,743$2,530,758
X-4 Accounts receivableStart of year $1,257,757$1,414,213
X-9 Prepaid expenses and deferred chargesStart of year $1,000,000$766,500
X-10c Land, buildings and equipment, netStart of year $22,692,226$23,165,915
X-13 Program-related investmentsStart of year $2,242,310$2,567,464
X-15 Other assetsStart of year $16,486,182$1,186,617
X-16 Total assetsStart of year $47,448,018$32,187,267
X-17 Accounts payable and accrued expensesStart of year $102,005$66,817
X-19 Deferred revenueStart of year $4,771$1,195
X-25 Other liabilitiesStart of year $22,711,092$25,352,552
X-26 Total liabilitiesStart of year $64,745,561$53,130,215
X-27 Net assets without donor restrictionsStart of year −$17,297,543−$20,942,948
X-32 Total net assets or fund balancesStart of year −$17,297,543−$20,942,948
X-33 Total liabilities and net assetsStart of year $47,448,018$32,187,267
Part XI · Reconciliation of net assets −$20,942,948 net assets at year end
XI-1 Total revenue$2,848,986
XI-2 Total expenses$6,497,381
XI-3 Revenue less expenses−$3,648,395
XI-4 Net assets at start of year−$17,297,543
XI-9 Other changes in net assets$2,990
XI-10 Net assets at end of year−$20,942,948

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

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