SBCS QALICB

EIN: 922728672 501(c)(3) Housing & Shelter

CHULA VISTA, CA

Total Revenue
$852,890
Total Expenses
$103,311
Total Assets
$34,650,590
Net Assets
$2,522,931
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
CA
Principal Officer
KATHRYN LEMBO
Phone
6194203620
Tax Period
2024-07-01 to 2025-06-30

SBCS QALICB, founded in 2023, is a small nonprofit in the Housing & Shelter sector that reported $853K in total revenue in fiscal year 2024. The organization ran a surplus of $750K, a strong 88% operating margin.

Mission

To provide children, youth and families with services and programs which reinforce the familys role in our community and which assist individuals to aspire realistically to lives of self-fulfillment.

Program Service Accomplishments

Program 1

SBCS QALICB was established in February 2023 to perform the functions of, and/or to carry out the purposes of, certain specified charitable organizations the primary purpose of which are to provide...

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SBCS QALICB was established in February 2023 to perform the functions of, and/or to carry out the purposes of, certain specified charitable organizations the primary purpose of which are to provide children, youth and families with services and programs which reinforce the familys role in our community and which assist individuals to aspire realistically to lives of self-fulfillment, which are organized and operated exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Code.SBCS is constructing a new facility to lease the property as a qualified active low-income community business (the Project). Funding for the Project was secured from multiple sources and the funders required that a separate corporation hold the land and the building. Therefore, SBS QALICB was formed in 2023, to be operatedat all times exclusively for the benefit of, to perform the functions of, and/or to carry out the purposes of SBCS. In 2023, SBCS QALICB acquired the land and building from SBCS at the financial closing date of May 4, 2023. Construction of the Project was completed in August 2025.Construction of the new facility constitutes a qualified active low-income Community business defined in Section 45D of the Internal Revenue Code of 1986, as amended (the Code), and was financed with qualified low-income community investment loans from CCP NMTC SUB-CDE XXI, LLC and Catalyst CDE-28, LLC and generated New Market Tax Credit financing.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $852,890
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $852,890

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $103,311
TOTAL EXPENSES $103,311

Year-over-Year Comparison

2024 2023 Change
Revenue $852,890 N/A N/A
Expenses $103,311 $115,226 -0.1%
Net Income $749,579 $-115,226 -7.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
6

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
3
$953,948
Total Directors
6
$953,948
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHRYN LEMBO Chair 1.00
Officer Director
$0 $58,274 $546,526
ELIZABETH INIGUEZ Treasurer 1.00
Officer Director
$0 $28,975 $223,477
LARISSA BACON Secretary 1.00
Officer Director
$0 $25,082 $183,945
MARY SALAS Director 1.00
Director
$0 $0 $0
LISA CUESTAS Director 1.00
Director
$0 $0 $0
FRANKIE ESCOBEDO Director 1.00
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
2025 $852,890 $103,311 $34,650,590 $749,579
2024 No data $115,226 $35,209,826 No data
2023 $1,922,759 $34,181 $33,924,497 $1,888,578
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