Verdugo Tower INC

Tax-deductible

Pasadena, CA501(c)(3)HousingEIN 95-4401836

To provide low income housing to elderly and handicapped persons.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $129K a year · 10% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $737K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$88K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.7M
+151% vs prior year
Spent
$1.3M
To programs
71%
Net assets
$6.3M
By yearFY2020–FY2025
Revenue
$2.7M
FY2025▲ +151%
Revenue by fiscal year
FY2020$915K
FY2021$989K
FY2022$994K
FY2023$1.5M
FY2024$1.1M
FY2025$2.7M
Expenses
$1.3M
FY2025▲ +7%
Expenses by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.2M
FY2023$1.2M
FY2024$1.2M
FY2025$1.3M
Net assets
$6.3M
FY2025▲ +28%
Net assets by fiscal year
FY2020$5.2M
FY2021$5.1M
FY2022$4.8M
FY2023$5.1M
FY2024$4.9M
FY2025$6.3M

From the FY2025 Form 990 (year ending March 2025) · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1997.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $946K Management & general 29% · $380K

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

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Verdugo Tower 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable housing for elderly and disabled individuals.

Provided by the organization

This section is blank until Verdugo Tower INC claims this page.

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1 program service account for $946K of program spending, described in the organization's own filed words · FY2024.
01

The organization is a non-profit apartment complex renting to low income, handicapped or elderly persons. The operations are regulated and controlled by U.S. Dept. Of hud. A coin operated laundry facility is provided.

$946Kprogram 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 · FY2024
Total grants receivedfrom 2 funders$737K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$2.7M
Ln 12
Gifts and grantsLn 1h$2.1M
Fees for servicesLn 2g$544K
Investment incomeLn 3$19K
Money outPt IX
$1.3M
Ln 25
Programscol B$946K
Managementcol C$380K
Owns and owesPt X
$6.3M
net assets · Ln 32
Cash and savingsLn 1–2$400K
Total assetsLn 16$6.4M
LiabilitiesLn 26$88K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Government grantsLn 1e$1.4M
Fees for servicesLn 2g$544K
Investment incomeLn 3$19K
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
SavingsLn 2$400K
Cash and savings togetherLn 1–2$400K
Land, buildings, equipmentLn 10c$3.9M
Other assetsLn 15$2.0M
Total assetsLn 16$6.4M
LiabilitiesLn 26$88K
Net assetsLn 32$6.3M
OperationsPt I, VI
EmployeesI 58
VolunteersI 60
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$181K$400K
Land, buildings, equipmentLn 10c$4.2M$3.9M
Total assetsLn 16$5.0M$6.4M
LiabilitiesLn 26$126K$88K
Net assetsLn 32$4.9M$6.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$263K$127K$136K
Pension plan contributionsLn 8$21K$10K$11K
Other employee benefitsLn 9$14K$7K$7K
Payroll taxesLn 10$21K$10K$11K
Management feesLn 11a$106K$106K
Legal feesLn 11b$698$698
Accounting feesLn 11c$49K$49K
Office expensesLn 13$14K$14K
Depreciation, depletion and amortizationLn 22$284K$284K
InsuranceLn 23$94K$94K
Other expenses (24a–d)Ln 24$377K$361K$16K
All other expensesLn 24e$82K$53K$29K
Total functional expensesLn 25$1.3M$946K$380K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.7M$1.3M$1.4M$6.3M 990 PDF
FY2024 $1.1M$1.2M−$172K$4.9M 990 PDF
FY2023 $1.5M$1.2M$250K$5.1M 990 PDF
FY2022 $994K$1.2M−$240K$4.8M 990 PDF
FY2021 $989K$1.2M−$173K$5.1M 990 PDF
FY2020 $915K$1.2M−$247K$5.2M 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $2,684,889 across 6 lines filed
VIII-1d Related organizations$729,954
VIII-1e Government grants$1,392,185
VIII-1h Total contributions, gifts and grants$2,122,139
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $543,716$543,716
VIII-3 Investment incomeExcluded from tax $19,034$19,034
VIII-12 Total revenueRelated to mission $543,716 · Unrelated business $0 · Excluded from tax $19,034$2,684,889
Part IX · Statement of functional expenses $1,326,590 across 12 lines filed
IX-7 Other salaries and wagesPrograms $127,026 · Management $136,463$263,489
IX-8 Pension plan contributionsPrograms $10,253 · Management $11,015$21,268
IX-9 Other employee benefitsPrograms $6,898 · Management $7,409$14,307
IX-10 Payroll taxesPrograms $10,258 · Management $11,021$21,279
IX-11a Management feesManagement $105,622$105,622
IX-11b Legal feesManagement $698$698
IX-11c Accounting feesManagement $48,848$48,848
IX-13 Office expensesManagement $13,664$13,664
IX-22 Depreciation, depletion and amortizationPrograms $283,582$283,582
IX-23 InsurancePrograms $94,329$94,329
IX-24 Other expenses (24a–d)Programs $361,260 · Management $16,188$377,448
IX-24e All other expensesPrograms $52,634 · Management $29,422$82,056
IX-25 Total functional expensesPrograms $946,240 · Management $380,350 · Fundraising $0$1,326,590
Part X · Balance sheet $6,350,937 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $180,647$399,931
X-9 Prepaid expenses and deferred chargesStart of year $21,273$23,662
X-10c Land, buildings and equipment, netStart of year $4,214,977$3,931,395
X-15 Other assetsStart of year $613,215$1,995,949
X-16 Total assetsStart of year $5,030,112$6,350,937
X-17 Accounts payable and accrued expensesStart of year $85,216$46,780
X-25 Other liabilitiesStart of year $40,427$41,389
X-26 Total liabilitiesStart of year $125,643$88,169
X-27 Net assets without donor restrictionsStart of year $4,904,259$5,924,508
X-28 Net assets with donor restrictionsStart of year $210$338,260
X-32 Total net assets or fund balancesStart of year $4,904,469$6,262,768
X-33 Total liabilities and net assetsStart of year $5,030,112$6,350,937
Part XI · Reconciliation of net assets $6,262,768 net assets at year end
XI-1 Total revenue$2,684,889
XI-2 Total expenses$1,326,590
XI-3 Revenue less expenses$1,358,299
XI-4 Net assets at start of year$4,904,469
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,262,768

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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