SAN DIEGO, CA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)DOWNTOWN SENIOR CENTER, founded in 1979, is a micro nonprofit that reported $28K in total revenue in fiscal year 2020. Revenue fell 95% from the prior year — a significant decline worth monitoring. Expenses of $244K exceeded revenue, resulting in a 756% operating deficit.
THE ORGANIZATION WAS FORMED AS A NON-PROFIT CORPORATION IN JULY 1979 TO ORGANIZE AND OPERATE A CENTER EXCLUSIVELY FOR CHARITABLE PURPOSES FOR THE BENEFIT OF INDIGENT ELDERLY AND THE ACQUISITION OF PROPERTIES IN ORDER TO CREATE AND OPERATE AFFORDABLE, SAFE, SUPERIOR QUALITY HOUSING FOR THE SAN DIEGO LOW INCOME ELDERLY, AND RELATED LOW INCOME ELDERLY SERVICES.
THE ORGANIZATION CREATED AND OPERATED A CENTER PROVIDING HOUSING REFERRALS AND RECREATIONAL FACILITIES AT THE SAN DIEGO KIND CORPORATION/SAN DIEGO SQUARE COMPLEX LOCATED AT 1055 NINTH AVENUE IN...
THE ORGANIZATION CREATED AND OPERATED A CENTER PROVIDING HOUSING REFERRALS AND RECREATIONAL FACILITIES AT THE SAN DIEGO KIND CORPORATION/SAN DIEGO SQUARE COMPLEX LOCATED AT 1055 NINTH AVENUE IN DOWNTOWN SAN DIEGO FOR THE BENEFIT OF LOW INCOME ELDERLY.IN, 1988, THE ORGANIZATION PURCHASED THE NEW PALACE HOTEL, A RESIDENTIAL HOTEL LOCATED AT 1814 FIFTH AVENUE IN DOWNTOWN SAN DIEGO. IN THE PROCESS OF RENOVATING THE STRUCTURE INTO A RESIDENTIAL HOTEL FOR THE NEEDY ELDERLY A FIRE DESTROYED THE BUILDING. RENOVATIONS WERE COMPLETED AND THE HOTEL REOPENED IN 1992 WITH 80 TAX CREDIT UNITS FOR LOW INCOME SENIORS.ON FEBRUARY 11, 2014 SAN DIEGO KIND CORPORATION (SDKC) SOLD/TRANSFERRED THE HUD 202/8 LOW INCOME SENIOR HOUSING PROJECT SERVING 154+ SENIORS TO HOUSING DEVELOPMENT PARTNERS (HDP), A NON PROFIT AFFILIATE OF THE SAN DIEGO HOUSING COMMISSION, THE HOUSING AUTHORITY FOR THE CITY OF SAN DIEGO. DOWNTOWN SENIOR CENTER (DSC) CONTINUES TO LOAN MONIES AND DONATE SERVICES TO HELP SUPPORT SDKC, A 501 (C)(3) NON PROFIT CORPORATION. DSC ALSO LOANS MONIES AND DONATES SERVICES TO FIFTH AVENUE CORPORATION, A 501 (C)(3) NON PROFIT CORPORATION AND MANAGING GENERAL PARTNER OF NEW PALACE ASSOCIATES, A LOW INCOME SENIOR TAX CREDIT PROPERTY THAT SERVED 80 SENIORS UNTIL THE PROJECT WAS SOLD/TRANSFERRED TO HDP IN 2016, ENSURING FIFTY-FIVE ADDITIONAL YEARS OF LOW INCOME RENTAL UNITS AND SECTION 8 VOUCHERS FOR THE NEEDY ELDERLY.IN SUBSEQUENT YEARS, THE CORPORATION HAS BEEN INTRICALLY INVOLVED AND A DRIVING FORCE WITH SAN DIEGO KIND CORPORATION IN IT'S EFFORTS TO DESIGN AND DEVELOP A PROJECT IN SAN DIEGO SERVING SENIORS IN AN EFFORT TO MEET CRITICAL HOUSING AND SERVICE NEEDS. AN INNOVATIVE AND COST-EFFICIENT PROJECT DESIGN WAS PRESENTED TO THE COUNTY OF SAN DIEGO WINNING A GRANT TO STUDY THIS DESIGN PLAN. THE PLAN WAS APPROVED AND A LEASE WITH THE COUNTY PROVIDED A SITE FOR 127 UNITS INSURING SEVENTY YEARS OF LOW-INCOME RENTAL UNITS AND SECTION 8 VOUCHERS FOR THE NEEDY ELDERLY. FOR OVER FORTY YEARS, DOWNTOWN SENIOR CENTER, HAS EXHIBITED EXEMPLARY CHARITABLE AND NONPROFIT SERVICES BY PROVIDING FUNDS AND SERVICES FOR THE EXCLUSIVE, PRIMARY AND ELEEMOSYNARY PURPOSES FOR THE BENEFITS OF LOW-INCOME SENIORS IN THE SAN DIEGO COMMUNITY; IN LIGHT OF RECENT BUDGETARY CHALLENGES ON THE PART OF DOWNTOWN SENIOR CENTER; IT WOULD BE EXTREMELY DIFFICULT, IF NOT IMPOSSIBLE, TO RAISE THE NECESSARY FUNDS TO CONTINUE OPERATIONS DURING THE DAUNTING COVID-19 ENVIRONMENT.DOWNTOWN SENIOR CENTER, IS NO LONGER ABLE TO CARRY ON WITH IT'S CHARITABLE ENDEAVORS GIVEN THESE BUDGETARY CONSTRAINTS AND THEREFORE HAS ELECTED TO DISSOLVE THE CORPORATION EFFECTIVE 12.31.2020.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2020 | 2019 | Change | |
|---|---|---|---|
| Revenue | $28,488 | $544,576 | -0.9% |
| Expenses | $243,989 | $7,261,809 | -1.0% |
| Net Income | $-215,501 | $-6,717,233 | -1.0% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| E PERCIL STANFORD PHD | PRESIDENT | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| CHANELL KACHI | VICE PRESIDENT | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| FRAN E KILBURG | TREASURER, SECRETARY, CFO | 10.00 |
Officer
Director
|
$0 | $17,962 | $167,902 |
| MAVOURNEEN O'CONNOR | PRESIDENT EMERITUS - SENIO | 30.00 |
Highest
|
$146,250 | $5,779 | $152,029 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2020 | $28,488 | $243,989 | No data | $-215,501 |
| 2019 | $544,576 | $7,261,809 | $249,451 | $-6,717,233 |
| 2018 | $40,438 | $629,305 | $7,277,144 | $-588,867 |
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