MID-PENINSULA PICKERING INC

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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

1994

Legal Domicile

Principal Officer

MATTHEW O FRANKLIN

Phone

6503562900

Tax Period

2024-01-01 to 2024-12-31

MID-PENINSULA PICKERING INC, founded in 1994, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $6.5M exceeded revenue, resulting in a 128% operating deficit.

Mission

IN CONJUNCTION WITH RELATED ORGANIZATIONS, MID-PENINSULA PICKERING INC'S MISSION IS TO PROVIDE SAFE, AFFORDABLE HOUSING OF HIGH QUALITY TO THOSE IN NEED; TO ESTABLISH STABILITY AND OPPORTUNITY IN THE LIVES OF RESIDENTS; AND TO FOSTER DIVERSE COMMUNITIES THAT ALLOW PEOPLE FROM ALL ETHNIC, SOCIAL AND ECONOMIC BACKGROUNDS TO LIVE IN DIGNITY, HARMONY, AND MUTUAL RESPECT.

Program Service Accomplishments

Program 1

Expenses: $6,416,541 Revenue: $2,314,700

THE ORGANIZATION IS THE GENERAL PARTNER OF PICKERING ASSOCIATES, A PARTNERSHIP WHICH OWNS AND OPERATES AN APARTMENT COMPLEX FOR LOW INCOME INDIVIDUALS AND FAMILIES. IN ADDITION, THE ORGANIZATION IS THE SOLE MEMBER OF MP CENTURY VILLAGE LLC, MP LAGUNA COMMONS LLC, MP STEVENSON PLACE LLC, MP OROYSOM LLC, MP SUNSET CREEK LLC, MP TICE OAKS LLC, MP CHESTNUT SQUARE SENIOR LLC, MP BROOKLYN BASIN I LLC, MP BROOKLYN BASIN II LLC, MP CHESTNUT SQUARE FAMILY LLC, MP MISSION GATEWAY LLC, MP BROOKLYN BASIN V LLC, MP BROOKLYN BASIN III LLC, MP BROOKLYN BASIN IV LLC, MP 1700 SANTA MONICA LLC, MP VINEYARD CROSSINGS LLC, MP ONE CALISTOGA LLC, MP WOOD STREET LLC, MP 414 PETALUMA LLC, MP AVANCE LLC, MP WASHINGTON COMMONS LLC AND MP SHERWOOD OAKS LLC; EACH OF WHICH HAVE OR WILL HAVE PARTNERSHIP INTERESTS IN PARTNERSHIPS WHICH ALSO OWN AND OPERATE AFFORDABLE HOUSING COMPLEXES FOR LOW INCOME INDIVIDUALS AND FAMILIES.

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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 $351,830

Program Service Revenue $2,314,700

Investment Income $182,456

Other Revenue $0

TOTAL REVENUE $2,848,986

Expense Breakdown

Grants Paid $1,075,000

Salaries & Benefits $161,687

Fundraising Expenses $0

Program Expenses $6,416,541

Other Expenses $5,260,694

TOTAL EXPENSES $6,497,381

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,848,986	$3,350,643	-0.1%
Expenses	$6,497,381	$4,633,901	+0.4%
Net Income	$-3,648,395	$-1,283,258	+1.8%

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

N/A

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

$3,571,873

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC HARRISON	CHAIRPERSON	0.20	Officer Director	$0	$0	$0
JESSICA GARCIA-KOHL	VICE CHAIRPERSON	0.20	Officer Director	$0	$0	$0
ENRIQUE TORRES	TREASURER	0.20	Officer Director	$0	$0	$0
JENNIFER MARTINEZ	SECRETARY	0.20	Officer Director	$0	$0	$0
TERRY FREEMAN	DIRECTOR	0.20	Director	$0	$0	$0
RENEE MCDONNELL	DIRECTOR	0.20	Director	$0	$0	$0
MELANIE MOCK	DIRECTOR	0.20	Director	$0	$0	$0
ELISA DE LAET JAGERSON	DIRECTOR	0.20	Director	$0	$0	$0
JENNIFER HICKS	DIRECTOR	0.20	Director	$0	$0	$0
FAY SIEN GOON	DIRECTOR	0.20	Director	$0	$0	$0
CHAN U LEE	DIRECTOR	0.20	Director	$0	$0	$0
STEPHANIE SONNENSHINE	DIRECTOR	0.20	Director	$0	$0	$0
YUSEF FREEMAN	DIRECTOR	0.20	Director	$0	$0	$0
JONATHAN FEARN	DIRECTOR	0.20	Director	$0	$0	$0
MATTHEW O FRANKLIN	CEO/PRESIDENT/ASST. SECRET	0.50	Officer	$0	$72,431	$716,168
MICHAEL J VERGURA	CFO / ASSISTANT SECRETARY	0.50	Officer	$0	$77,467	$550,709
JANINE LIND	COO / ASSISTANT SECRETARY	1.00	Officer	$0	$9,883	$308,244
ANN GOGGINS GREGORY	COO / ASSISTANT SECRETARY	1.00	Officer	$0	$37,560	$381,003
LANCE SMITH	VP/CORPORATE COUNSEL & BROKER/ ASST.	0.00	Officer	$0	$64,680	$375,051
ABIGAIL GOLDWARE POTLURI	ASSISTANT SECRETARY	0.00	Officer	$0	$56,916	$386,944
KASEY ARCHEY	ASSISTANT SECRETARY	0.00	Officer	$0	$25,464	$457,923
JOANNA L CARMAN	ASSISTANT SECRETARY	0.00	Officer	$0	$46,342	$395,831

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	$2,848,986	$6,497,381	$32,187,267	$-3,648,395
2023	$3,350,643	$4,633,901	$47,448,018	$-1,283,258
2022	$473,540	$4,293,529	$18,929,055	$-3,819,989
2021	$1,012,621	$5,348,748	$18,470,214	$-4,336,127
2020	$727,136	$6,830,370	$7,732,736	$-6,103,234
2019	$217,818	$882,484	$9,704,987	$-664,666
2018	$398,578	$2,221,162	$12,200,946	$-1,822,584