FIRST COMMUNITY LAND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

RICHARD CONNIFF

Phone

4082918650

Tax Period

2024-01-01 to 2024-12-31

FIRST COMMUNITY LAND, founded in 2020, is a micro nonprofit in the Housing & Shelter sector that reported $7.0M in total revenue in fiscal year 2024. Revenue fell 434607% from the prior year — a significant decline worth monitoring.

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.

Program Service Accomplishments

Program 1

Expenses: $-137,486

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...

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,600

Program Service Revenue $0

Investment Income $-6,953,718

Other Revenue $0

TOTAL REVENUE $-6,952,118

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $-137,486

Other Expenses $442,218

TOTAL EXPENSES $442,218

Year-over-Year Comparison

	2024	2023	Change
Revenue	$-6,952,118	$1,600	-4346.1%
Expenses	$442,218	$2,520,657	-0.8%
Net Income	$-7,394,336	$-2,519,057	+1.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$49,295

Total Directors

Key Employees

$633,864

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL P SANTERO	COO	2.00	Key Emp	$0	$53,033	$367,739
DAVID MUNSON	DIRECTOR OF FINANCE (THRU 02/24)	0.50	Officer	$0	$7,173	$49,295
KATHIE LEE	INTERIM DIRECTOR OF FINANCE (START 02/24)	0.50	Officer	$0	$0	$0
RICHARD L CONNIFF	CHAIRMAN & CEO	0.50	Officer Director	$0	$0	$0
BIANEY MARTINEZ	DIRECTOR OF ASSET MANAGER	2.00	Key Emp	$0	$44,726	$266,125
RU WEERAKOON	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
DUNIA NOEL	SECRETARY	0.50	Officer Director	$0	$0	$0
ROBERT SHERRARD	TREASURER	0.50	Officer Director	$0	$0	$0
BILL ANDERSON	DIRECTOR	0.50	Director	$0	$0	$0
KERMIT CONLEY	DIRECTOR	0.50	Director	$0	$0	$0
JOSH CROSS	DIRECTOR	0.50	Director	$0	$0	$0
GERRY DEYOUNG	DIRECTOR	0.50	Director	$0	$0	$0
JEFF GEE	DIRECTOR	0.50	Director	$0	$0	$0
MATTHEW JAMES	DIRECTOR	0.50	Director	$0	$0	$0
SUSAN MUYSENBERG	DIRECTOR	0.50	Director	$0	$0	$0
PRESTON PRINCE	DIRECTOR	0.50	Director	$0	$0	$0
JOYCE RODGER	DIRECTOR	0.50	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$-6,952,118	$442,218	$9,599,459	$-7,394,336
2023	$1,600	$2,520,657	$16,652,958	$-2,519,057
2022	No data	$31,533	$18,421,365	No data
2021	No data	$61,145	$17,735,853	No data
2020	No data	$15,103	$8,973,077	No data