2023-11-07T13:48:50-06:00 2022-12-31 941250261 LINDQUIST VON HUSEN & JOYCE LLP 301 HOWARD STREET SUITE 850 SAN FRANCISCO CA 94105 990 2022-01-01 770197933 DEROSE HDC INC DERO 4082758770 505 W JULIAN STREET SAN JOSE CA 95110 PRESTON PRINCE PRESIDENT 4082758770 2023-11-07 1 PRESTON PRINCE 999009999 0 SHERMAN LEONG P00513747 4159579999 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PRESTON PRINCE 505 W JULIAN STREET SAN JOSE CA 95110 1587834 0 X N/A X 1998 CA THE ORGANIZATION OPERATED HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES. 2 0 0 0 0 0 0 0 1505792 1587650 119 184 0 0 1505911 1587834 0 0 0 0 0 0 0 0 0 1338105 1368916 1338105 1368916 167806 218918 5546444 5718595 7253740 7206973 -1707296 -1488378 TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING. 0 0 1020750 1587650 THE ORGANIZATION SERVES AS A GENERAL PARTNER IN LIMITED PARTNERSHIPS WHICH OWN AND OPERATE HOUSING AND PROVIDE RELATED SERVICES TO LOW AND MODERATE INCOME PERSONS.THE ORGANIZATION IS ALSO THE SOLE MEMBER OF HERMOCILLA LLC. AN ENTITY WITH THE PURPOSE TO ACQUIRE, REHABILITATE, AND OPERATE A 100-UNIT AFFORDABLE SENIOR HOUSING COMPLEX IN SAN JOSE, CALIFORNIA, WHICH IS CURRENTLY OPERATING UNDER THE NAME VILLA HERMOSA APARTMENTS. 1020750 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 2 0 1 1 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 0 0 1 1 CA X THE ORGANIZATION 4802758770 505 W JULIAN STREET SAN JOSE CA 95110 PRESTON PRINCE PRESIDENT 1.00 39.00 X X 0 382229 62452 ALELI SANGALANG VICE PRESIDENT/TREASURER 1.00 39.00 X X 0 285602 46751 0 667831 109203 0 0 1 0 0 RENTAL INCOME 531110 1538948 1538948 MANAGEMENT FEE 531110 30000 30000 OTHER INCOME 531110 18702 18702 1587650 184 184 1587834 1587650 0 184 10000 10000 46344 46344 399671 399671 OPERATING & MAINTENANCE 324940 324940 ADMINISTRATIVE 265712 265712 UTILITIES 169429 169429 LOSS FROM PARTNERSHIP 80366 80366 72454 72454 1368916 1020750 348166 0 1958960 2485338 47328 48880 13220 21842 5600374 2586904 3413141 3013470 113795 149065 5546444 5718595 93421 94018 4519 2062 1088410 963640 6067390 6147253 7253740 7206973 X -1707296 -1488378 -1707296 -1488378 5546444 5718595 218918 0 X X 0 1 X 1 0 X 1258079 1345754 1556363 1505792 1587650 7253638 1258079 1345754 1556363 1505792 1587650 7253638 0 0 0 7253638 650 754 126 119 184 1833 650 754 126 119 184 1833 1258729 1346508 1556489 1505911 1587834 7255471 0.99970 0.99970 0.00030 0.00030 X 1541701 1541701 4058673 2586904 1471769 3013470 DEFICIT INVESTMENT IN SUBSIDIARIES 6086838 TENANT SECURITY DEPOSIT 60415 6147253 X PART X, LINE 2: THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FEDERAL AND STATE INCOME TAX RETURNS FOR THE YEARS 2018 THROUGH 2021 ARE SUBJECT TO EXAMINATION BY REGULATORY AGENCIES, GENERALLY FOR THREE YEARS AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY. 0 0 0 0 0 0 0 0 0 PRESTON PRINCE PRESIDENT 0 375215 0 0 0 7014 0 25498 0 36954 0 444681 0 0 ALELI SANGALANG VICE PRESIDENT/TREASURER 0 272444 0 0 0 13158 0 22776 0 23975 0 332353 0 0 PART I, LINE 3 WRITTEN EMPLOYMENT CONTRACTS WERE USED TO ESTABLISH COMPENSATION OF RELATED ORGANIZATION'S EXECUTIVES. BOARD OR COMPENSATION COMMITTEE'S APPROVAL IS ALSO REQUIRED. FORM 990, PART VI, SECTION A, LINE 2 ALL OF THE DIRECTORS/OFFICERS ARE SCCHA EMPLOYEES AND SERVE ON OTHER AFFILIATE BOARDS TOGETHER. FORM 990, PART VI, SECTION A, LINE 3 PROPERTY MANAGEMENT SERVICES ARE PROVIDED BY A THIRD PARTY AGENT. FORM 990, PART VI, SECTION A, LINE 8B THERE WERE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE REPORT IS REVIEWED BY THE SCCHA FINANCE DEPARTMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE TWO MEMBERS OF THE BOARD, WHO ARE ALSO HOUSING AUTHORITY EMPLOYEES, ARE BOUND BY SCCHA POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS OR MAINTAIN ANY EMPLOYEES. ALL OFFICERS ARE COMPENSATED BY THE RELATED ORGANIZATION, SCCHA. BOARD OF DIRECTORS REVIEWS AND APPROVES EXECUTIVE SALARIES. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST AND THROUGH WEBSITE/BOARD MEETINGS. FORM 990, PART XII, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 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