2024-10-03T16:35:11-07:00 2023-12-31 461594234 Boggeln & Company Inc 215 1/2 Main Street Huntington Beach CA 92648 990 2023-01-01 954205316 SKID ROW HOUSING TRUST SKID 2136830522 1317 EAST SEVENTH STREET LOS ANGELES CA 90021 Joanne Cordero Interim CEO 2024-10-03 true true CHERI L BOGGELN P00854324 7143747434 2023 2024-10-15 13:58:12Z 1317 EAST SEVENTH STREET LOS ANGELES CA 90021 20523989 false X SKIDROW.ORG X 1989 CA The Skid Row Housing Trust (the Trust) provides permanent supportive housing so that people who have, or at risk of, experiencing homelessness, prolonged extreme poverty, poor health, disabilities, mental illness and/or addiction can lead safe, stable lives in wellness. 9 8 91 0 7852847 4033115 9704642 9969690 1405 -15397325 -65769 0 17493125 -1394520 0 0 7564302 2930267 0 786148 18124122 33744025 25688424 36674292 -8195299 -38068812 204213739 142299337 207834780 187016993 -3621041 -44717656 X The Skid Row Housing Trust (the Trust) provides permanent supportive housing so that people who have, or at risk of, experiencing homelessness, prolonged extreme poverty, poor health, disabilities, mental illness and/or addiction can lead safe, stable lives in wellness. false true 33171171 9969690 SKID ROW HOUSING TRUST ENGAGES IN THE DEVELOPMENT, MANAGEMENT, SUPPORT, ADMINISTRATION, AND RENTAL ACTIVITIES THAT ARE DIRECTLY RELATED TO THE PROVISION OF LOW INCOME HOUSING TO INDIVIDUALs with special needs. 33171171 true true false true false false false false false false true false true true true false false false false false false false false false false false false false false true false false false false false false false false false false false false true true true true false false true 24 0 true 91 true false false false false false false false 0 false false false false false false false X 9 8 false false true false false false false true true false true true true true true true true true true true true true CA X JOANNE CORDERO 2136830522 1317 EAST SEVENTH STREET LOS ANGELES CA 90021 JOANNE C RUSSO CORDERO COS, interi CEO 40.00 0.00 X 291626 0 32819 Michael Alvidrez secretary 40.00 0.02 X X 113231 0 6885 MIA JACKSON Vice President 0.00 40.00 X 0 76770 12439 VERONICA GARCIA CASTANEDA VP HR & TM 40.00 0.00 X 77593 0 11579 debra chafe VP Controller 40.00 0.00 X 68825 0 7786 DEANDRE COMERS VP of Health&SS 40.00 0.00 X 53012 0 7240 NADEZHDA N LITOVSKAYA CFO 40.00 0.00 X 14771 0 5458 SIMON HA Chairman 0.31 0.00 X X 0 0 0 DIANA SKIDMORE Director 0.31 0.00 X 0 0 0 MAX KOLOMEYER Treasurer 0.31 0.00 X X 0 0 0 SIERRA ATILANO Pres & Chief RE 40.00 0.00 X X 0 0 0 PATRICK SPILLANE Director 0.31 0.02 X 0 0 0 PAUL GREGERSON MD Director 0.31 0.00 X 0 0 0 Diane Ballen Director 0.31 0.02 X 0 0 0 Katherine Perez Director 0.31 0.00 X 0 0 0 619058 76770 84206 2 false true false Julie Fulton 6034 Laurel St New Orleans LA 70118 ACCOUNTING 142069 BayGrape Technology LLC 5 Sea Grape Rd Ladera Ranch CA 92694 IT consulting 1531916 California Receivership Group 3435 Ocean Park Blvd Suite 107 Santa Monica CA 90405 receivership 486895 Receivership Specialists 11500 W Olympic Blvd Suite 530 Los Angeles CA 90064 receivership 543545 Raines Feldman LLP 1900 ave of the Stars 19th Floor Los Angeles CA 90067 legal 155465 5 3399739 633376 4033115 CANCELLATION OF DEBT 531390 1509749 1509749 MGMT & DEVELOPER FEES 531390 46147 46147 MISCELLANEOUS 531390 20921 20921 RENTAL INCOME 531110 7934187 7934187 SUPPORTIVE SERVICES 624100 458686 458686 9969690 3670 3670 0 0 0 6517514 21918509 -15400995 -15400995 -15400995 0 0 0 0 -1394520 9969690 -15397325 X 0 0 0 0 690825 439607 229174 22044 0 1741632 1108289 577768 55575 0 150141 95542 49808 4791 347669 221240 115335 11094 0 371288 55983 300944 14361 0 0 0 0 1027494 155629 832122 39743 2747 1766 322 659 575245 506923 18164 50158 239173 239173 0 21650 13920 2537 5193 11468 1377 10078 13 0 1562 1266 286 10 1575672 1570331 5341 0 26278 26278 1281601 1135353 134549 11699 K-1 RENTAL EXPENSES 12752141 12752141 BAD DEBT 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17580809 14006475 94821860 0.82610 0.79460 0.00500 0.00540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false X 35291018 35892862 35291018 35892862 1000000 1000000 250000 250000 false 2000000 1913656 2000000 2000000 7913656 11870484 500000 478414 500000 500000 1978414 2967621 10708611 10708611 66519050 35048550 31470500 1524679 960993 563686 1366230 989318 376912 43119709 74335795 AMOUNT DUE FROM AFFILIATE 11993043 OPERATING RESERVE 4756 OTHER DEPOSITS 80281 REAL ESTATE UNDER DEVELOPMENT 3660514 REPLACEMENT RESERVE 144159 TENANT SECURITY DEPOSITS 26231 15908984 ACCRUED INTEREST PAYABLE 28496232 DEFERRED GAIN ON SALE 2104198 DUE TO AFFILIATE 3909238 DUE TO CITY OF LA 7336367 SECURTIY DEPOSITS 117930 41963965 X X false false false false false false false false false JOANNE C RUSSO CORDERO COS, interi CEO 291626 18426 14393 324445 Form 990, Part III, Line 3 Due to severe financial deficits, outstanding obligations and the lack of projected revenues, in early 2023, the organization was unable to sustain its operations. A court appointed Health and Safety Receiver on 4/7/2023 , responsible to oversee and manage the day to day operations of the Trust properties. New owners and/or general partners were sought over the past 18 months and the Trust is expected to complete cease existence in q4 2024. Form 990, Part VI, Section A, Line 4 Amendment of Bylaw on January 24, 2023: In the fourth quarter of 2022, 3 Board members resigned which subsequently resulted in the Boards decision to reduce the total number of Board participants moving forward. Form 990, Part VI, Section B, Line 11b The audit committee of the board will review a draft of the Form 990. Upon the audit committee's approval of the Form 990, the finalized form will be filed with the appropriate agency. Form 990, Part VI, Section B, Line 12c Conflict of interest policy is documented in the Employee Manual and Corporate Bylaws. At hiring, human resource management distributes the conflict of interest policy to all employees which requires that the employees disclose any activities that may be in conflict with the Trust and sign the policy agreement. New board members receive copies of the Corporate Bylaws including conflict of interest clauses upon joining the board. Form 990, Part VI, Section B, Line 15b The board of directors have the power to select and remove all officers of the corporation; prescribe powers and duties for them that are consistent with law, with the articles of incorporation, and with the bylaws; fix their compensation; and require from them security for faithful service. ALL EXECUTIVE SALARIES WERE COMPARED TO THOSE OF EXECUTIVES IN SIMILAR ORGANIZATIONS. Form 990, Part VI, Section C, Line 19 No documents, other than those documents required for federal tax purposes, which are listed in Question 18, are available to the public on request. Form 990, Part IX, Line 24e COMP BY PROP MGT: Column (A) - Total = $1306873; Column (B) - Program Services = $1306873; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e EQUIPMENT RENTAL AND EXPENSES: Column (A) - Total = $70983; Column (B) - Program Services = $65111; Column (C) - Management & General = $5839; Column (D) - Fundraising = $33 Form 990, Part IX, Line 24e EVENTS: Column (A) - Total = $3001; Column (B) - Program Services = $2644; Column (C) - Management & General = $95; Column (D) - Fundraising = $262 Form 990, Part IX, Line 24e FRANCHISE TAX BOARD - TAXES: Column (A) - Total = $5811; Column (B) - Program Services = $4767; Column (C) - Management & General = $1044; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e LEGAL SETTLEMENT: Column (A) - Total = $9626; Column (B) - Program Services = $9626; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e LICENSE & PERMITS: Column (A) - Total = $241729; Column (B) - Program Services = $198289; Column (C) - Management & General = $43440; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e MISCELLANEOUS: Column (A) - Total = $8032; Column (B) - Program Services = $7332; Column (C) - Management & General = $0; Column (D) - Fundraising = $700 Form 990, Part IX, Line 24e OTHER DEDUCTIONS FROM K-1: Column (A) - Total = $4966; Column (B) - Program Services = $4966; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e Postage and Shipping: Column (A) - Total = $6831; Column (B) - Program Services = $6831; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e PROGRAM EXPENSES: Column (A) - Total = $-1431; Column (B) - Program Services = $-827; Column (C) - Management & General = $0; Column (D) - Fundraising = $-604 Form 990, Part IX, Line 24e PROPERTY MGMT FEE: Column (A) - Total = $469970; Column (B) - Program Services = $469970; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e REAL ESTATE TAXES: Column (A) - Total = $74404; Column (B) - Program Services = $61033; Column (C) - Management & General = $13371; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e RECEIVER FEE: Column (A) - Total = $1030440; Column (B) - Program Services = $1030440; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e TELEPHONE & INTERNET: Column (A) - Total = $244749; Column (B) - Program Services = $244749; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e TRAINING: Column (A) - Total = $-478; Column (B) - Program Services = $-387; Column (C) - Management & General = $-88; Column (D) - Fundraising = $-3 Form 990, Part IX, Line 24e UTILITIES: Column (A) - Total = $582583; Column (B) - Program Services = $534391; Column (C) - Management & General = $47921; Column (D) - Fundraising = $271 Form 990, Part XI, Line 9 GAAP/TAX DIFFERENCES - SEE SCH O = -$3027803 Form 990, Part XII, Line 3b AT THE TIME OF FILING THE TAX RETURN, THE TAXPAYER ENTERED RECEIVERSHIP, THEREFORE, NO AUDITS WERE DONE FOR 2022 OR 2023. THE ANSWER OF FORM 990 PART IV QUESTION 12B, FORM 990 PART XII QUESTION 2B and 2C, AND FORM RRF-1 PART B QUESTION 8 REFLECT THIS SITUATION. CHANGE IN FUND BALANCE AND TOTAL ASSETS THE TAX RETURN HAS BEEN PREPARED TO INCLUDE THE TRUST'S ACTIVITIES PLUS THEIR INVESTMENT IN PARTNERSHIPS PER THEIR 2023 K-1S SO THAT THE PARTNERSHIP ACTIVITY CORRECTLY REFLECTS THE ORGANIZATION'S PERCENTAGE INTEREST IN THE PARTNERSHIPS. THE K-1S USE TAX BASIS FOR INCOME/(LOSS) AND EXPENSE ITEMS, BUT THE AUDITED FINANCIAL STATEMENTS ARE ISSUED ON CONSOLIDATED BASIS AND THE CAPITAL ACCOUNT IS ON GAAP BASIS. AS SUCH, IT CAUSES AN ADJUSTMENT TO FUND BALANCE AS FOLLOWS:FUND BALANCE AT 1/1/23 $ -3,621,041.2023 INCOME PER TAX -38,068,812.GAAP/TAX DIFFERENCES IN AMOUNTS FROM K-1S -3,027,803.FUND BALANCE AT 12/31/23 $ -44,717,656. 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