INDEPENDENCE SQUARE HOUSING CORPORATION INC

EIN: 942465776 501(c)(3) Housing & Shelter

WATSONVILLE, CA

Total Revenue
$2,297,778
Total Expenses
$2,443,485
Total Assets
$3,441,775
Net Assets
$3,212,993
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
CA
Principal Officer
MARSHA MARANI
Phone
8317246396
Tax Period
2024-04-01 to 2025-03-31

INDEPENDENCE SQUARE HOUSING CORPORATION INC, founded in 1977, is a community nonprofit in the Housing & Shelter sector that reported $2.3M in total revenue in fiscal year 2024.

Mission

TO OPERATE A 100 UNIT APARTMENT COMPLEX LOCATED IN WATSONVILLE, CALIFORNIA, AS HOUSING FOR QUALIFIED HANDICAPPED AND ELDERLY TENANTS THROUGH MORTGAGE FINANCING FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD").

Program Service Accomplishments

Program 1
Expenses: $1,572,883 Revenue: $534,419

TO OPERATE A 100 UNIT APARTMENT COMPLEX LOCATED IN WATSONVILLE, CALIFORNIA, AS HOUSING FOR QUALIFIED HANDICAPPED AND ELDERLY TENANTS THROUGH MORTGAGE FINANCING FROM THE U.S. DEPARTMENT OF HOUSING AND...

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TO OPERATE A 100 UNIT APARTMENT COMPLEX LOCATED IN WATSONVILLE, CALIFORNIA, AS HOUSING FOR QUALIFIED HANDICAPPED AND ELDERLY TENANTS THROUGH MORTGAGE FINANCING FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD"). THE ORGANIZATION OPERATES THE APARTMENT COMPLEX UNDER THE PROVISIONS OF SECTION 202 OF THE NATIONAL HOUSING ACT, UTILIZING THE HUD SECTION 8 RENT SUBSIDY PROGRAM FOR ELIGIBLE TENANTS.

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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 $1,662,534
Program Service Revenue $534,419
Investment Income $98,490
Other Revenue $2,335
TOTAL REVENUE $2,297,778

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,068,359
Fundraising Expenses $0
Program Expenses $1,572,883
Other Expenses $1,375,126
TOTAL EXPENSES $2,443,485

Year-over-Year Comparison

2024 2023 Change
Revenue $2,297,778 $2,167,761 +0.1%
Expenses $2,443,485 $1,716,517 +0.4%
Net Income $-145,707 $451,244 -1.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
16
Volunteers
7

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
6
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARI PARKER PRESIDENT 2.00
Officer Director
$0 $0 $0
RAMON GOMEZ FORMER PRESIDENT 09/24 2.00
Director
$0 $0 $0
EDWARD ACOSTA VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
STEVE HENDERSON TREASURER 2.00
Officer Director
$0 $0 $0
PHILIP STEPHENS FORMER TREASURER 10/24 2.00
Director
$0 $0 $0
CASEY CLARK CO-TREASURER 2.00
Officer Director
$0 $0 $0
MARTHA VICTORIA VEGA SECRETARY 2.00
Officer Director
$0 $0 $0
DENNIS CHAMBERLAIN TRUSTEE 2.00
Director
$0 $0 $0
SHANE MCKEITHEN TRUSTEE 2.00
Director
$0 $0 $0
GRACE GOMEZ FORMER TRUSTEE 2.00
Director
$0 $0 $0
MARSHA LARKIN MARANI MGMT AGENT 40.00
Officer
$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 $2,297,778 $2,443,485 $3,441,775 $-145,707
2024 $2,167,761 $1,716,517 $3,486,946 $451,244
2023 $1,998,333 $1,683,476 $3,023,001 $314,857
2022 $1,861,949 $1,664,487 $2,703,836 $197,462
2021 $1,875,250 $1,439,053 $2,502,900 $436,197
2020 $1,796,474 $1,363,220 $2,136,959 $433,254
2019 $1,806,564 $1,409,279 $1,862,542 $397,285
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