Overview
What is The Sequoia Plaza Mobile Home Park Corp?
The Sequoia Plaza Mobile Home Park Corp is a nonprofit organization situated in San Bernardino, California, specifically at 2505 West Foothill Boulevard. It operates as a mobile home park, offering 240 spaces for residency. The park primarily caters to families, with most spaces being doublewide and some being singlewide. Many of the homes feature awnings, concrete or asphalt driveways, and covered carports. Spanning approximately 29.71 acres, Sequoia Plaza was constructed in 1971. The organization generates revenue by charging rent and utility fees, which helps cover costs and contribute to increasing San Bernardino's supply of affordable housing for low and moderate-income families. Established with the purpose of assisting the former Redevelopment Agency of the City of San Bernardino in promoting economic development, the corporation took ownership and management of Sequoia Plaza Mobile Home Park to enhance the availability of affordable housing within the city.
What are the reviews and ratings of this charity?
Charity Navigator Rating 79% - Three-Star out of Four Star rating
The Sequoia Plaza Mobile Home Park Corp has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization scored well on various metrics, such as having a fully independent board and demonstrating no material diversion of assets, which speaks to its governance and transparency.
One of the organization's notable strengths is its high program expense ratio of 97.44%, suggesting that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, the presence of comprehensive policies regarding conflicts of interest and whistleblower protections further enhances its credibility and operational integrity.
While the overall rating is commendable, it may not reflect extraordinary performance in all areas, as the overall score of 79% suggests there are aspects where improvements could be made. Nonetheless, the solid governance framework and focus on programmatic spending position The Sequoia Plaza Mobile Home Park Corp as a responsible nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is The Sequoia Plaza Mobile Home Park Corp legitimate?
The Sequoia Plaza Mobile Home Park Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Sequoia Plaza Mobile Home Park Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $36,107
For more financial information, click here
What is the mission statement of The Sequoia Plaza Mobile Home Park Corp?
The Sequoia Plaza Mobile Home Park Corp was established with the purpose of assisting the former redevelopment agency of San Bernardino in its redevelopment efforts. One of its primary objectives is to promote economic development within the city of San Bernardino. To achieve this, the corporation took over the ownership and operation of the Sequoia Plaza Mobile Home Park. By doing so, it aims to increase the availability of housing options for low and moderate income families in the city. The corporation generates revenue by charging for space rent and utilities, which in turn helps in offsetting costs and supporting this mission. This strategy contributes to the city's overall supply of affordable housing.
What is the revenue of The Sequoia Plaza Mobile Home Park Corp?
The Sequoia Plaza Mobile Home Park Corp's revenue in 2024 was $2,643,791.
Who are the executives of The Sequoia Plaza Mobile Home Park Corp and what are their salaries?
There 2 volunteers at The Sequoia Plaza Mobile Home Park Corp.
Here are 12 key members and their salaries:
- Compensation: $0
- Related: $82,000
- Other: $0
- Compensation: $0
- Related: $66,200
- Other: $0
- Compensation: $0
- Related: $22,000
- Other: $0
- Compensation: $0
- Related: $22,000
- Other: $0
- Compensation: $0
- Related: $22,000
- Other: $0
- Compensation: $0
- Related: $22,000
- Other: $0
- Compensation: $0
- Related: $22,000
- Other: $0
- Compensation: $0
- Related: $22,000
- Other: $0
- Compensation: $0
- Related: $14,500
- Other: $0
- Compensation: $0
- Related: $8,000
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Sequoia Plaza Mobile Home Park Corp?
The Sequoia Plaza Mobile Home Park Corp's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of The Sequoia Plaza Mobile Home Park Corp
The Sequoia Plaza Mobile Home Park Corp was established with the mission to alleviate governmental burdens by offering assistance to the former redevelopment agency of the City of San Bernardino in its redevelopment initiatives. This corporation plays a crucial role in promoting economic development within the city by taking on the ownership and operation of Sequoia Plaza Mobile Home Park. Its primary objective is to increase the availability of low and moderate income housing within the city, thereby contributing to the city's housing supply for families with limited financial means. By charging for space rent and utilities, The Sequoia Plaza Mobile Home Park Corp is able to offset costs, ensuring the continuity of its mission to support affordable housing options.
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Impact
October, 2024
The Sequoia Plaza Mobile Home Park Corp significantly impacts the housing landscape in San Bernardino, California, by providing affordable housing options for low and moderate-income families. Located at 2505 West Foothill Boulevard, the park accommodates 240 mobile home spaces, primarily designed for families, with a mix of doublewide and some singlewide homes. This initiative helps to alleviate housing shortages in the city, offering rent prices that range from $411 to $739 per month, with an average rent of $556.
The organization offsets operational costs through space rent and utility charges, enabling them to maintain and improve the park while ensuring that it remains an affordable living option for its residents. Given its 29.71-acre area established in 1971, Sequoia Plaza enhances the community by promoting stable living conditions and a family-friendly environment. In addition to housing, the park contributes to the city's redevelopment efforts, supporting economic development and overall community improvement in San Bernardino.
This information is meant to be a general summary of The Sequoia Plaza Mobile Home Park Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $216,851
- Program Service Revenue: $2,426,940
- Gross Receipts: $2,643,791
Assets and Liabilities:
- Total Assets: $9,927,659
- Total Liabilities: $13,957,980
- Net Assets: -$4,030,321
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTALS
Revenue
$2,426,940
Organization Details
Founding Year
1996
Principal Officer
Dennis Kazarian
NTEE Category
Code: S22 - Community improvement
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