SEAVIEW LUTHERAN PLAZA INC

EIN: 953161421 501(c)(3) Housing & Shelter

CORONA DEL MAR, CA

Total Revenue
$1,363,794
Total Expenses
$2,566,766
Total Assets
$42,570,791
Net Assets
$42,569,480
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1976
Legal Domicile
CA
Phone
9499238681
Tax Period
2023-01-01 to 2023-12-31

SEAVIEW LUTHERAN PLAZA INC, founded in 1976, is a community nonprofit in the Housing & Shelter sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 284% from the prior year, signaling strong growth momentum. Expenses of $2.6M exceeded revenue, resulting in a 88% operating deficit.

Mission

On July 31,2021, the Organization sold the Housing Project and proceeds from sale of property will used the further the mission of the associated church. The Organization plans to distribute (over a number of years) all proceeds to various associated churches and other non-profit organization that meets the mission of the Organization.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $1,363,794
Other Revenue $0
TOTAL REVENUE $1,363,794

Expense Breakdown

Grants Paid $2,305,338
Salaries & Benefits $137,450
Fundraising Expenses $0
Program Expenses $2,305,338
Other Expenses $123,978
TOTAL EXPENSES $2,566,766

Year-over-Year Comparison

2023 2022 Change
Revenue $1,363,794 $354,804 +2.8%
Expenses $2,566,766 $2,132,842 +0.2%
Net Income $-1,202,972 $-1,778,038 -0.3%
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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Governance

Voting Members
10
Independent Members
10
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
4
$101,900
Total Directors
10
$137,450
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Eric Satermo Pres. & LLC Mgr 2.00
Officer Director
$90,000 $0 $90,000
Dorothea Sue Silavs Treas/Grant Mbr 1.00
Officer Director
$11,900 $0 $11,900
Louise Sawyer Dir/Grant Co Mb 0.00
Director
$9,550 $0 $9,550
Julie R Lelo Grant Comm Mbr 0.00
Director
$9,550 $0 $9,550
Rev Mark C Anderson Grant Comm Mbr 0.00
Director
$9,250 $0 $9,250
Brent Gordon Grant Comm Mbr 0.00
Director
$7,200 $0 $7,200
Ray Flaskamper Vice President 0.50
Officer Director
$0 $0 $0
Pamela Jean Platz Secretary 0.50
Officer Director
$0 $0 $0
Gary Abraham Director 0.00
Director
$0 $0 $0
Darin Sheek Director 0.00
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
2024 No data No data No data No data
2023 $1,363,794 $2,566,766 $42,570,791 $-1,202,972
2022 $354,804 $2,132,842 $43,812,694 $-1,778,038
2021 $41,673,186 $992,424 $45,664,990 $40,680,762
2020 $2,477,622 $1,439,724 $6,128,394 $1,037,898
2019 $2,421,674 $1,430,122 $5,609,100 $991,552
2018 $2,382,760 $1,380,658 $4,664,233 $1,002,102
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