The Sequoia Plaza Mobile Home Park Corp
Nonprofit profile at a glance
- EIN
- 330719908
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Santa Ana, CA, USA
- Phone
- 7147444993
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Neighborhood, Block Associations
Reported finances
- Revenue
- $2,628,672
- Expenses
- $5,884,849
- Assets
- $4,717,109
- Liabilities
- $13,230,798
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- DENNIS KAZARIAN (President)
- RICHARD SIMONIAN (Vice President)
Highest reported compensation
- GARY BRENDZEL (Secretary/COO): $84,000 total reported compensation
- JOHN YEANDLE (Director): $79,500 total reported compensation
- DENNIS KAZARIAN (President): $68,200 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The corporation was created to lessen the governmental burdens by providing assistance to the former redevelopment agency of the city of san bernardino in its redevelopment efforts to promote economic development within the city of san bernardino, including, but not limited to, assuming the ownership and operation of sequoia plaza mobile home park in order to increase the availability of low and moderate income housing within the city.
What it reported doing in 2024
Sequoia plaza mobile home park is located at 2505 west foothill boulevard in the city of san bernardino, California. Sequoia plaza consists of 240 mobile home spaces. Sequoia is primarily a family park, consisting of doublewide spaces; however, there are some spaces occupied with singlewide homes. Most of the homes have awnings and concrete or asphalt driveways, as well as covered carports. Sequoia has a total area of approximately 29.71 acres. Sequoia and sequoia owned buildings were constructed in 1971. The overall range for rents is $455 to $901 per month with average rents of $628 per month, excluding utilities.
Operating model
- Revenue model
- Earned-program. 99% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 60
- Accountability: 90
- Sustainability: 18
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 98.9%; rating input score 99
- 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: 81.8%; rating input score 82; 15th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -123.9%; rating input score 0; 0th percentile among comparable filings
- Total-asset coverage ratio: 0.8; rating input score 30; 30th percentile among comparable filings
- Liabilities to assets ratio: 2.8; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 0.6%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 11.7% per year; rating input score 100; 70th percentile among comparable filings
- Revenue growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
- Asset growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 98.9% of spending went to programs
- Governance: 9 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $5.8M in reported program spending
- Leadership: top reported pay $84K · 12 people listed · 0 of 6 pay-setting controls reported
- Consistency: 26 of 26 current checks pass
- Schedules: 6 filed schedules · includes executive pay
- Filing history: 12 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 9 filed money-flow records
- Related organizations: 8 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 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
- High — Sustainability: Liabilities to assets ratio scored 1/100.