Pilgrim Tower East

Tax-deductible

Long Beach, CA501(c)(3)EIN 95-3298228

Provide affordable housing to low-income seniors, families, and the handicapped.

501(c)(3) charity; gifts are tax-deductible.
96¢ 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
2 of 5
filings with a surplus
Average surplus $218K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$205K
1% of total assets
Looks good: liabilities are 1% 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
$4.2M
+11% vs prior year
Spent
$4.3M
To programs
96%
Net assets
$15.3M
By yearFY2020–FY2024
Revenue
$4.2M
FY2024▲ +11%
Revenue by fiscal year
FY2020$3.6M
FY2021$3.5M
FY2022$3.6M
FY2023$3.8M
FY2024$4.2M
Expenses
$4.3M
FY2024▼ -6%
Expenses by fiscal year
FY2020$1.5M
FY2021$1.7M
FY2022$5.8M
FY2023$4.5M
FY2024$4.3M
Net assets
$15.3M
FY2024-0.2%
Net assets by fiscal year
FY2020$16.3M
FY2021$18.2M
FY2022$16.1M
FY2023$15.4M
FY2024$15.3M

From the FY2024 Form 990 (year ending November 2024) · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1978.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $4.1M Management & general 4% · $178K

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

Who runs it and what they're paid

36 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President/CEO
$0Pt VII · Sec A
Executive VP Gen Counsel
$0Pt VII · Sec A
CFO and VP of Finance
$0Pt VII · Sec A
VP Acquis and Proj Dev
$0Pt VII · Sec A
VP Treasury & Invstmt Off
$0Pt VII · Sec A
VP Housing Operations
$0Pt VII · Sec A
VP Health Care Operations
$0Pt VII · Sec A
VP Human Resources
$0Pt VII · Sec A
See Pilgrim Tower East 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

Offers affordable housing to low-income seniors, families, and people with disabilities.

Provided by the organization

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1 program service account for $4.1M of program spending, described in the organization's own filed words · FY2023.
01

To provide affordable housing for low-income seniors, based on need, in an environment enhancing the quality of life as it relates to their physical, mental and spiritual well-being.

$4.1Mprogram 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 · this organization's grantmaking
Grants paid · 3 grants · $9.1M · 2021–2023
Retirement Housing FoundationCA · FY2023$2,285,877
Retirement Housing FoundationCA · FY2022$2,715,800
Retirement Housing FoundationCA · FY2021$4,110,339

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.2M
Ln 12
Gifts and grantsLn 1h$3.2M
Fees for servicesLn 2g$805K
Investment incomeLn 3$210K
Money outPt IX
$4.3M
Ln 25
Programscol B$4.1M
Managementcol C$178K
Owns and owesPt X
$15.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.6M
Total assetsLn 16$15.5M
LiabilitiesLn 26$205K
PeoplePt VI, VII
36
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.2M
Government grantsLn 1e$3.2M
Fees for servicesLn 2g$805K
Investment incomeLn 3$210K
Other incomeLn 4–11$23K
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
CashLn 1$2.6M
SavingsLn 2$0
Cash and savings togetherLn 1–2$2.6M
InvestmentsLn 11–13$2.1M
Land, buildings, equipmentLn 10c$10.8M
Other assetsLn 15$66K
Total assetsLn 16$15.5M
LiabilitiesLn 26$205K
Net assetsLn 32$15.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderNovember
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$2.4M$2.6M
InvestmentsLn 11–13$1.9M$2.1M
Land, buildings, equipmentLn 10c$11.2M$10.8M
Total assetsLn 16$15.6M$15.5M
LiabilitiesLn 26$245K$205K
Net assetsLn 32$15.4M$15.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.3M$2.3M
Management feesLn 11a$162K$162K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$319$319
Office expensesLn 13$97K$97K
OccupancyLn 16$990K$990K
TravelLn 17$6K$6K
Depreciation, depletion and amortizationLn 22$352K$352K
InsuranceLn 23$24K$24K
Other expenses (24a–d)Ln 24$357K$357K
Total functional expensesLn 25$4.3M$4.1M$178K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $4.2M$4.3M−$35K$15.3M 990 PDF
FY2023 $3.8M$4.5M−$690K$15.4M 990 PDF
FY2022 $3.6M$5.8M−$2.1M$16.1M 990 PDF
FY2021 $3.5M$1.7M$1.8M$18.2M 990 PDF
FY2020 $3.6M$1.5M$2.1M$16.3M 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 $4,249,815 across 7 lines filed
VIII-1e Government grants$3,212,685
VIII-1h Total contributions, gifts and grants$3,212,685
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $804,624$804,624
VIII-3 Investment incomeExcluded from tax $209,870$209,870
VIII-6 Net rental income or lossExcluded from tax $10,200$10,200
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $12,436$12,436
VIII-12 Total revenueRelated to mission $804,624 · Unrelated business $0 · Excluded from tax $232,506$4,249,815
Part IX · Statement of functional expenses $4,284,512 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $2,285,877$2,285,877
IX-11a Management feesManagement $162,264$162,264
IX-11c Accounting feesManagement $9,590$9,590
IX-12 Advertising and promotionManagement $319$319
IX-13 Office expensesPrograms $97,205$97,205
IX-16 OccupancyPrograms $990,190$990,190
IX-17 TravelManagement $6,198$6,198
IX-22 Depreciation, depletion and amortizationPrograms $351,949$351,949
IX-23 InsurancePrograms $23,827$23,827
IX-24 Other expenses (24a–d)Programs $357,093$357,093
IX-25 Total functional expensesPrograms $4,106,141 · Management $178,371 · Fundraising $0$4,284,512
Part X · Balance sheet $15,540,159 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $2,236,286$2,581,268
X-2 Savings and temporary cash investmentsStart of year $200,000$0
X-4 Accounts receivableStart of year $30,725$7,400
X-9 Prepaid expenses and deferred chargesStart of year $14,994$1,918
X-10c Land, buildings and equipment, netStart of year $11,159,167$10,807,217
X-13 Program-related investmentsStart of year $1,908,511$2,076,006
X-15 Other assetsStart of year $65,631$66,350
X-16 Total assetsStart of year $15,615,314$15,540,159
X-17 Accounts payable and accrued expensesStart of year $179,404$135,652
X-19 Deferred revenueStart of year $316$2,889
X-25 Other liabilitiesStart of year $65,631$66,350
X-26 Total liabilitiesStart of year $245,351$204,891
X-27 Net assets without donor restrictionsStart of year $15,369,963$15,335,268
X-32 Total net assets or fund balancesStart of year $15,369,963$15,335,268
X-33 Total liabilities and net assetsStart of year $15,615,314$15,540,159
Part XI · Reconciliation of net assets $15,335,268 net assets at year end
XI-1 Total revenue$4,249,815
XI-2 Total expenses$4,284,512
XI-3 Revenue less expenses−$34,697
XI-4 Net assets at start of year$15,369,963
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,335,268

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

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