2024-07-08T14:13:36-05:00 2023-12-31 946214841 ARMANINO LLP 50 W SAN FERNANDO ST STE 500 SAN JOSE CA 95113 990 2023-01-01 770158519 TERRACE GARDENS INC TERR 8314385725 186 BERESFORD COURT MILPITAS CA 95035 JIL KAUFFMAN PRESIDENT 8314385725 2024-07-01 1 JIL KAUFFMAN 999009999 1 MATTHEW PETROSKI P00233621 4082006400 2024-07-01 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z JIL KAUFFMAN 186 BERESFORD COURT MILPITAS CA 95035 2607745 0 X N/A X 1986 CA THE DEVELOPMENT AND MANAGEMENT OF LOW AND MODERATE INCOME HOUSING IN THE STATE OF CALIFORNIA. 7 7 0 7 0 0 26901 173641 2304169 2367022 9333 67082 0 0 2340403 2607745 0 0 0 0 593399 551554 0 0 0 1821547 1969787 2414946 2521341 -74543 86404 10437260 10492737 430419 399492 10006841 10093245 THE PUBLIC PURPOSES FOR WHICH THIS CORPORATION IS ORGANIZED INCLUDE THE DEVELOPMENT AND MANAGEMENT OF LOW AND MODERATE INCOME HOUSING IN THE STATE OF CALIFORNIA. 0 0 1731923 1718661 THE ORGANIZATION DEVELOPS AND MANAGES THE OPERATIONS OF A RESIDENTIAL COMPLEX WHICH CONSISTS OF 148 RENTAL UNITS, 3 GUEST ROOMS, AND 2 STAFF UNITS. THE COMPLEX IS LOCATED IN THE CITY OF MILPITAS AND DEDICATED TO THE NEEDS OF ELDERLY PERSONS. TOTAL OF 196 PEOPLE WERE SERVED DURING THE YEAR. 679346 648361 FOOD SERVICES ARE PROVIDED FOR THE WELL-BEING OF THE ELDERLY TENANTS, FOR THE NUMBER OF 196 PEOPLE. 2411269 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X JOHN STEWART COMPANY 8314385725 104 WHISPERING PINES DR SUITE 200 SCOTT VALLEY CA 95066 X JIL KAUFFMAN PRESIDENT 1.00 X X 0 0 0 DOLORES HOVEY VICE PRESIDENT 1.00 X X 0 0 0 NASIR LALANI SECRETARY/TREASURER 1.00 X X 0 0 0 DEEPKA LALWANI DIRECTOR 1.00 X 0 0 0 JAMES NICHOLS DIRECTOR 1.00 X 0 0 0 THOMAS VALORE DIRECTOR 1.00 X 0 0 0 STEVEN SHARP DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 MORRISON MANAGEMENT SPECIAL PO BOX 102289 ATLANTA GA 303682289 FOOD MANAGEMENT SERVICES 678913 JOHN STEWART COMPANY 104 WHISPERING PINES DR STE 200 SCOTTS VALLEY CA 95066 PROPERTY MANAGEMENT SERVICES 648938 USA EMPIRE REMODELS INC 1707 LITTLE ORCHARD ST UNIT B SAN JOSE CA 95125 REMODELING SERVICES 333818 3 173641 173641 RENT INCOME 532000 1710882 1710882 FOOD SERVICES 531390 648361 648361 LAUNDRY & VENDING INCO 531390 4986 4986 OTHER TENANTS SERVICES 531390 2793 2793 2367022 67082 67082 2607745 2367022 0 67082 X 434229 434229 5222 5222 75948 75948 36155 36155 73525 73525 10480 10480 33382 33382 293709 293709 2916 2916 90585 90585 6361 6361 258765 258765 742 742 3165 3165 355968 355968 76928 76928 FOOD SERVICE COSTS 679346 679346 REPAIRS AND MAINTENANCE 67560 67560 RECREATIONAL SUPPLIES 13919 13919 ADMINISTRATIVE MISC EXP 2436 2436 2521341 2411269 110072 0 29542 129843 9796 9845 0 131188 25353 818 64802 20968 17341636 10744262 6724778 6597374 3582989 3602701 10437260 10492737 356876 322615 1143 277 72400 76600 430419 399492 X 10006038 10092441 803 804 10006841 10093245 10437260 10492737 86404 0 X 0 1 X 1 0 X 12263 90338 48816 26901 173641 351959 2220123 2302086 2319447 2304169 2367022 11512847 2232386 2392424 2368263 2331070 2540663 11864806 0 0 0 11864806 40263 18424 832 9333 67082 135934 40263 18424 832 9333 67082 135934 2272649 2410848 2369095 2340403 2607745 12000740 0.98870 0.99200 0.01130 0.00800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1565277 1565277 15263054 10263450 4999604 72216 66162 6054 441089 414650 26439 6597374 REPLACEMENT RESERVE 3525321 RESTRICTED CASH FOR CARILLON MAINTENANCE FUND 804 TENANTS SECURITY DEPOSITS 76576 3602701 TENANTS SECURITY DEPOSITS 76600 76600 X 2607745 0 2607745 0 2607745 2521341 0 2521341 0 2521341 PART X, LINE 2: THE ORGANIZATION HAS FILED AND RECEIVED AN EXEMPTION FROM CERTAIN PROPERTY TAXES IN ACCORDANCE WITH SECTION 214 OF THE CALIFORNIA CODE. TERRACE GARDENS, INC. IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE CALIFORNIA REVENUE TAXATION CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING STATEMENTS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ORGANIZATION IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY THE ORGANIZATION IN ITS FEDERAL AND STATE TAX RETURNS ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION FILES INFORMATION RETURNS IN THE U.S. FEDERAL JURISDICTION AND STATE OF CALIFORNIA. THE ORGANIZATION'S FEDERAL RETURNS FOR THE TAX YEARS 2020 AND BEYOND REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION'S CALIFORNIA RETURNS FOR THE TAX YEARS 2019 AND BEYOND REMAIN SUBJECT TO EXAMINATION BY THE FRANCHISE TAX BOARD. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION USED A MANAGEMENT COMPANY TO PERFORM ALL MANAGEMENT DUTIES AND UNDER THE DIRECT SUPERVISION OF THE BOARD OF DIRECTORS. SUCH MANAGEMENT DUTIES INCLUDE HIRING, FIRING, AND SUPERVISING, PLANNING OR EXECUTING BUDGETS OR FINANCIAL OPERATIONS. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE CORPORATION SHALL, AT ALL TIMES, BE LIMITED TO A BOARD OF DIRECTORS CONSISTING OF UP TO NINE (9) INDIVIDUALS. FORM 990, PART VI, SECTION A, LINE 7A ANY VACANCY OR VACANCIES ON THE BOARD OF DIRECTORS CAUSED BY EXPIRATION OF TERM, DEATH, RESIGNATION OR REMOVAL SHALL BE FILLED BY ACTION OF THE BOARD IN ACCORDANCE WITH THE CRITERIA SET FORTH IN THE BYLAWS AT A SPECIAL MEETING CALLED FOR THAT PURPOSE. FORM 990, PART VI, SECTION B, LINE 11B THE MANAGEMENT COMPANY RECEIVES A PDF COPY FROM THE 990 RETURN PREPARER, REVIEWS THE RETURN AND PROVIDES A COPY FOR APPROVAL AT THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 293,709. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 293,709. FROM 990, PART VI, SECTION B, LINE 14: THE ORGANIZATAION ADOPTED THE WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY PROVIDED BY THE MANAGEMENT COMPANY.