First Community Land

Nonprofit profile at a glance

EIN
851098163
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
San Jose, CA, USA
Phone
4082918650
Rating confidence
Limited
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$-6,952,118
Expenses
$442,218
Assets
$9,599,459
Liabilities
$19,620,633

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • RICHARD L CONNIFF (CHAIRMAN & CEO)
  • RU WEERAKOON (VICE PRESIDENT)

Highest reported compensation

  • MICHAEL P SANTERO (COO): $367,739 total reported compensation
  • BIANEY MARTINEZ (DIRECTOR OF ASSET MANAGER): $266,125 total reported compensation
  • DAVID MUNSON (DIRECTOR OF FINANCE (THRU 02/24)): $49,295 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support the mission of first community housing (fch), a California nonprofit public benefit corporation, by facilitating the purchase and ownership of real property for the future development of subsidized affordable housing by fch.

What it reported doing in 2024

First community land invests in property for the development of affordable housing apartment complexes. In june 2020, first community land purchased a parcel of land located in morgan hill, California. The land was to be developed to provide affordable housing. In 2023, the organization entered into an agreement with eden housing to jointly develop the property. The joint venture is currently, in august 2025, arranging financing to further development and commence construction under the management of eden housing at which point ownership of the land will be transferred from first community land.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -106.4%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 21.71; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 2.04; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 23.7%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 31.6% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: 3.8% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · -$137K in reported program spending
  • Leadership: top reported pay $368K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 35 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.