2016-11-08T15:40:05-06:00 2015-12-31 330885895 LINDSAY & BROWNELL LLP 4225 EXECUTIVE SQUARE SUITE 1150 LA JOLLA CA 92037 990 2015-01-01 330898712 PRICE CHARITIES PRIC 8585512316 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 ROBERT PRICE PRESIDENT/DIRECTOR 8585512316 2016-10-28 1 STEPHEN J BROWNELL P00232091 8585589200 2015 2017-02-10 21:41:12Z ROBERT PRICE 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 22574912 0 X WWW.PRICECHARITIES.COM X 2000 CA TO IMPROVE THE LIVES OF FAMILIES LIVING IN LOW INCOME URBAN COMMUNITIES. 6 3 19 0 0 0 660079 0 6077884 7237593 1467707 2611070 0 0 8205670 9848663 0 0 0 0 1093310 729954 0 0 0 10209090 7945473 11302400 8675427 -3096730 1173236 147878880 149136805 171104 255793 147707776 148881012 X THE MISSION OF PRICE CHARITIES IS TO IMPROVE THE LIVES OF FAMILIES LIVING IN LOW INCOME URBAN COMMUNITIES. 0 1 7060582 7235326 CITY HEIGHTS REAL ESTATE: THE ORGANIZATION HAS PROVIDED A SAFE, CLEAN AND AFFORDABLE LIVING AND WORK ENVIRONMENT THROUGH THE ACQUISITION AND CONSTRUCTION OF SEVERAL REAL ESTATE PROJECTS IN THE CITY HEIGHTS AREA OF THE CITY OF SAN DIEGO, CALIFORNIA. SUCH PROJECTS INCLUDE THE CONSTRUCTION AND MANAGEMENT OF: A 116 UNIT APARTMENT COMPLEX; A SIX STORY (119,000 SQUARE FOOT) OFFICE BUILDING; A MIXED-USE RESIDENTIAL (92 UNITS) AND RETAIL (20,000 SQUARE FOOT) PROJECT; AND VARIOUS PARCELS OF LAND HELD FOR FUTURE PROJECTS. 896274 46404 CITY HEIGHTS PROGRAMS: PROVIDE A VARIETY OF SUCCESSFUL PROGRAMS INCLUDING COMMUNITY UPKEEP AND VARIOUS SOCIAL AND EDUCATION SERVICES. 7956856 1 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 15 0 19 1 0 1 CS 0 0 0 0 0 0 0 0 X 6 3 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X JEFF FISHER 8585512316 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 X ROBERT PRICE PRESIDENT/DIRECTOR 10.00 30.00 X X 0 0 20726 ALLISON PRICE VICE PRESIDENT/DIRECTOR 1.00 5.00 X X 0 0 0 SHERRY BAHRAMBEYGUI EVP/SECRETARY/DIRECTOR 11.00 29.00 X X 0 800990 64506 DEDE ALPERT DIRECTOR/AUDIT CHAIR 1.00 0.00 X 0 0 0 JACK KNOTT DIRECTOR 1.00 0.00 X 0 0 0 SUE REYNOLDS DIRECTOR 1.00 0.00 X 0 0 0 TODD GLORIA AUGUST 2015 DIRECTOR 1.00 0.00 X 0 0 0 JEFF FISHER CFO 11.00 29.00 X 0 586228 59492 LOIS MILLER COMMUNITY UPKEEP 29.00 11.00 X 181020 0 31109 JENNIFER BARRON FORMER PROGRAM DIRECTOR 0.00 40.00 X 0 143602 38445 ANN BOSSLER FORMER DIRECTOR COMMUNITY SCHOOLS 0.00 40.00 X 0 115344 27428 181020 1646164 241706 1 1 1 0 THE PRICE GROUP 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 MANAGEMENT 1110000 BYCOR GENERAL CONTRACTORS INC 6490 MARINDUSTRY PLACE STE A SAN DIEGO CA 92121 BUILDING CONTRACTOR 634752 UNIVERSAL PROTECTION SERVICE PO BOX 101034 PASADENA CA 911891034 SECURITY 402620 MW VASQUEZ CONSTRUCTION 3009 G STREET SAN DIEGO CA 92102 BUILDING CONTRACTOR 314821 PROFESSIONAL MAINTENANCE SYSTEM PO BOX 80038 SAN DIEGO CA 92138 JANITORIAL 227922 8 COMMERCIAL REAL ESTATE PROGRAM 531120 3851389 3851389 RESIDENTIAL REAL ESTATE PROGRAM 531110 3386204 3386204 7237593 2304587 46404 2258183 13018034 14698 12709284 16965 308750 -2267 306483 -2267 308750 9848663 7281730 0 2566933 501732 501732 74957 74957 106605 106605 46660 46660 1110000 555000 555000 36583 36583 56050 28025 28025 46951 46951 4589 2295 2294 2942972 2931573 11399 73081 52594 20487 REAL ESTATE PROGRAM EXP 3318233 3318233 CITY HEIGHTS PROGRAM EX 339182 339182 TAXES AND FEES 17832 17832 8675427 7956856 718571 0 5609075 7394953 1967450 2127143 51975 110616 468495 360047 102279617 24281355 78851616 77998262 51295877 51728407 0 0 9634392 9417377 147878880 149136805 109 11959 170995 243834 171104 255793 X 147707776 148881012 147707776 148881012 147878880 149136805 1173236 0 X X 0 1 X 1 0 X 289952 277100 500 660079 0 1227631 5363821 7325469 6751397 6170747 7283997 32895431 5653773 7602569 6751897 6830826 7283997 34123062 275000 275000 550000 0 275000 275000 550000 33573062 1864569 2616612 883003 1631880 2258183 9254247 1864569 2616612 883003 1631880 2258183 9254247 7518342 10219181 7634900 8462706 9542180 43377309 0.77400 0.21330 X 12137768 12137768 82094641 22008388 60086253 5903309 1165413 4737896 1510935 857201 653734 632964 250353 382611 77998262 CORPORATE SECURITIES 18910758 C UST NOTES 14497101 C S&P/INDEXES 18529071 C S&P OPTIONS/INDEXES -208523 C 51728407 CONSTRUCTION IN PROCESS 238392 LAND HELD FOR DEVELOPMENT 9178985 9417377 SECURITY DEPOSITS 188286 OTHER CURRENT LIABILITIES 335 PREPAID RENT 55213 243834 X -12252199 -22938138 837276 -22100862 9848663 0 9848663 8813790 138363 138363 8675427 0 8675427 PART X, LINE 2: FIN 48(ASC 740), INCOME TAXES, PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ORGANIZATION SHOULD MEASURE, RECOGNIZE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT AN ORGANIZATION HAS TAKEN OR EXPECTS TO TAKE ON A TAX RETURN. THERE WAS NO IMPACT TO THE ORGANIZATION'S FINANCIAL STATEMENTS AS A RESULT OF ITS ANALYSIS OF ASC 740-10 AS OF DECEMBER 31, 2015 AND 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: ACCRUAL TO CASH ADJUSTMENT 837,276. PART XII, LINE 2D - OTHER ADJUSTMENTS: ACCRUAL TO CASH ADJUSTMENT 138,363. 0 0 0 0 0 0 0 0 0 SHERRY BAHRAMBEYGUI EVP/SECRETARY/DIRECTOR 0 600990 0 200000 0 0 0 41000 0 23506 0 865496 0 0 JEFF FISHER CFO 0 486228 0 100000 0 0 0 35754 0 23738 0 645720 0 0 LOIS MILLER COMMUNITY UPKEEP 181020 0 0 0 0 0 23454 0 7655 0 212129 0 0 0 JENNIFER BARRON FORMER PROGRAM DIRECTOR 0 143602 0 0 0 0 0 19019 0 19426 0 182047 0 0 ANN BOSSLER FORMER DIRECTOR COMMUNITY SCHOOLS 0 115344 0 0 0 0 0 15406 0 12022 0 142772 0 0 SCHEDULE J, PART I, LINE 3 THE EXECUTIVE MANAGEMENT OFFICIALS OF THE ORGANIZATION ARE NOT PAID DIRECTLY BY THE ORGANIZATION. THE VICE PRESIDENT OF THE ORGANIZATION IS NOT COMPENSATED, THE OTHER THREE OFFICERS ARE COMPENSATED BY THE PRICE GROUP, LLC WHICH CHARGES A MANAGEMENT FEE TO THE ORGANIZATION. SOME OF THE OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE MEMBERS OF THE PRICE GROUP, LLC. SCHEDULE J, PART II THE ORGANIZATION PAYS A MANAGEMENT FEE TO THE PRICE GROUP, LLC ("TPG") FOR CORPORATE MANAGEMENT SERVICES AND OVERSIGHT BASED ON INDIVIDUALS' ALLOCATED TIME DEVOTED TO WORK PERFORMED ON BEHALF OF THE ORGANIZATION. THIS WORK INCLUDES MANAGEMENT SUPERVISORY OVERSIGHT AND BACK OFFICE SUPPORT SERVICES. ALTHOUGH THREE OFFICERS OF THE ORGANIZATION RECEIVED THEIR TOTAL COMPENSATION THROUGH TPG, (1) NONE OF THE PRESIDENT'S COMPENSATION; (2) ONLY APPROXIMATELY $174,000 OF THE EXECUTIVE VICE PRESIDENT/SECRETARY'S TOTAL COMPENSATION (INCLUDING BENEFITS); AND (3) ONLY APPROXIMATELY $130,000 OF THE CFO'S TOTAL COMPENSATION (INCLUDING BENEFITS) WAS INCLUDED IN THE CALCULATION FOR THE ORGANIZATION'S 2015 MANAGEMENT FEE. THE PRESIDENT AND EXECUTIVE VICE PRESIDENT/SECRETARY ARE ALSO MEMBERS OF TPG. THE PRESIDENT, EXECUTIVE VICE PRESIDENT/SECRETARY AND CFO OF THE ORGANIZATION SPEND THE REMAINDER OF THEIR WORKING TIME (I.E. HOURS LISTED FOR RELATED ORGANIZATIONS IN PART VII) WORKING FOR PRICE PHILANTHROPIES FOUNDATION, THE PRICE GROUP, LLC, AND OTHER RELATED ENTITIES. ALTHOUGH EXECUTIVES AVERAGE MORE THAN 40 HOURS WORK DURING A WEEK, THE REPORTED AVERAGE HOURS PER WEEK LISTED IN COLUMN B OF FORM 990, PART VII, SECTION A IS BASED ON A 40 HOUR WORK WEEK. THE PRICE GROUP LLC ASSET MANAGER SOME COMMON OFFICERS AND DIRECTORS WITH PRICE GROUP, LLC 1110000 ASSET MANAGEMENT FEE 0 THE PRICE GROUP LLC ASSET MANAGER SOME COMMON OFFICERS AND DIRECTORS WITH PRICE GROUP, LLC 193811 EXPENSE REIMBURSEMENTS 0 PRICESMART INC SOME COMMON DIRECTORS WITH PRICESMART INC. 1931630 PRICESMART INC. DIVIDENDS 0 FORM 990, PART III, LINE 3 A DECISION WAS MADE BY THE MANAGEMENT OF THE ORGANIZATION AND PRICE PHILANTHROPIES FOUNDATION, A RELATED NONPROFIT ORGANIZATION, THAT BEGINNING IN 2015, THE MANAGEMENT OF THE APRENDER Y CRECER PROGRAM WOULD BE MOVED TO PRICE PHILANTHROPIES FOUNDATION. FORM 990, PART VI, SECTION A, LINE 2 ROBERT PRICE AND ALLISON PRICE, HUSBAND AND WIFE. FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT SERVICES CONTRACTED TO THE PRICE GROUP, LLC. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 INFORMATION WAS COMPILED FROM THE ORGANIZATION'S ACCOUNTING RECORDS AND PROVIDED TO THE ORGANIZATION'S PREPARER. THE COMPLETED FORM 990 WAS REVIEWED BY THE ORGANIZATION'S CFO. UPON SATISFACTORY COMPLETION OF THE REVIEW PROCESS, A DRAFT OF THE FORM 990 WAS CIRCULATED TO THE ORGANIZATION'S GOVERNING BODY'S AUDIT COMMITTEE FOR REVIEW. THE FORM 990 WAS THEN FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S BOARD OF DIRECTORS REGULARLY DISCUSSES THE IMPORTANCE OF MAINTAINING THE PUBLIC'S TRUST AND CLEARLY COMMUNICATES THIS MESSAGE TO ALL EMPLOYEES. THE ORGANIZATION HAS ESTABLISHED A PROCESS FOR ALL BOARD MEMBERS AND OFFICERS TO FULLY DISCLOSE POTENTIAL CONFLICTS OF INTEREST, INCLUDING THE ANNUAL COMPLETION OF A CONFLICT OF INTEREST FORM BY THE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DID NOT PAY ANY COMPENSATION TO ANY OF THE ORGANIZATION'S OFFICERS (SEE DESCRIPTION IN PART VII SECTION A). FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON THE REQUEST OF SUCH DOCUMENTS. FORM 990, PART VII, SECTION A, LINE 1, COLUMN B AND E: THE ORGANIZATION PAYS A MANAGEMENT FEE TO THE PRICE GROUP, LLC ("TPG") FOR CORPORATE MANAGEMENT SERVICES AND OVERSIGHT BASED ON INDIVIDUALS' ALLOCATED TIME DEVOTED TO WORK PERFORMED ON BEHALF OF THE ORGANIZATION. THIS WORK INCLUDES MANAGEMENT SUPERVISORY OVERSIGHT AND BACK OFFICE SUPPORT SERVICES. ALTHOUGH THREE OFFICERS OF THE ORGANIZATION RECEIVED THEIR TOTAL COMPENSATION THROUGH TPG, (1) NONE OF THE PRESIDENT'S COMPENSATION; (2) ONLY APPROXIMATELY $174,000 OF THE EXECUTIVE VICE PRESIDENT/SECRETARY'S TOTAL COMPENSATION (INCLUDING BENEFITS); AND (3) ONLY APPROXIMATELY $130,000 OF THE CFO'S TOTAL COMPENSATION (INCLUDING BENEFITS) WAS INCLUDED IN THE CALCULATION FOR THE ORGANIZATION'S 2015 MANAGEMENT FEE. THE PRESIDENT AND EXECUTIVE VICE PRESIDENT/SECRETARY ARE ALSO MEMBERS OF TPG. THE PRESIDENT, EXECUTIVE VICE PRESIDENT/SECRETARY AND CFO OF THE ORGANIZATION SPEND THE REMAINDER OF THEIR WORKING TIME (I.E. HOURS LISTED FOR RELATED ORGANIZATIONS IN PART VII) WORKING FOR PRICE PHILANTHROPIES FOUNDATION, THE PRICE GROUP, LLC, AND OTHER RELATED ENTITIES. ALTHOUGH EXECUTIVES AVERAGE MORE THAN 40 HOURS WORK DURING A WEEK, THE REPORTED AVERAGE HOURS PER WEEK LISTED IN COLUMN B OF FORM 990, PART VII, SECTION A IS BASED ON A 40 HOUR WORK WEEK. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE IT'S AUDIT OVERSIGHT PROCESS OF SELECTION PROCESS DURING THE TAX YEAR. FORM 990, PART I, LINE 5 AND PART V, LINE 2A: ALTHOUGH THE TOTAL NUMBER OF EMPLOYEES REPORTED ON FORM W-3 WAS 19, THAT NUMBER INCLUDES 11 EMPLOYEES AND 8 PITCH LOAN RECIPIENTS REQUIRED TO RECEIVE W-2'S AS A RESULT OF RECEIVING RENT CREDITS OR INTEREST CREDITS FOR VOLUNTEERING IN CITY HEIGHTS AS PART OF THE ORGANIZATION'S CHARITABLE MISSION. SCHEDULE R, PART II ON FEBRUARY 14, 2014 THE PRICE PHILANTHROPY FUND WAS INCORPORATED AS AN EXEMPT DELAWARE CORPORATION. THIS ENTITY HAS A TAX IDENTIFICATION NUMBER OF #46-5129465. IN 2016 THE PRICE PHILANTHROPIES FOUNDATION WITH TAX IDENTIFICATION NUMBER #95-3842468 WILL MERGE INTO THIS NEW EXEMPT DELEWARE CORPORATION AND CONTINUE ALL PRIVATE FOUNDATION ACTIVITIES UNDER THIS NEW ENTITY. CITY HEIGHTS REALTY LLC 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 470847193 REAL ESTATE OWNERSHIP CA 2421288 38897796 PRICE CHARITIES URBAN VILLAGE RESIDENTIAL LLC 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 330989717 REAL ESTATE OWNERSHIP CA 1771786 19775667 PRICE CHARITIES FAIRMOUNT & EL CAJON REALTY LLC 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 264122003 REAL ESTATE OWNERSHIP CA 35521 6085575 PRICE CHARITIES PRICE PHILANTHROPIES FOUNDATION 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 953842468 CHARITABLE CA 501(C)(3) PRIVATE FAMILY FNDN N/A 0 THE PRICE GROUP LLC 7777 FAY AVENUE SUITE 300 LA JOLLA CA 92037 522255962 MANAGEMENT OVERSIGHT, BACK-OFFICE SUPPORT CA N/A N/A 0 0 PRICESMART INC 9740 SCRANTON ROAD SAN DIEGO CA 92121 WHOLESALE/RETAIL CA N/A C 0.09140 0 1 0 0 0 0 1 0 0 0 1 0 0 1 1 1 1 1 0 0 THE PRICE GROUP LLC - TOTAL MANAGEMENT FEE INCLUDES ITEMS REFERENCED M 1110000 THE PRICE GROUP LLC - TOTAL MANAGEMENT FEE INCLUDES ITEMS REFERENCED N 1110000 THE PRICE GROUP LLC - TOTAL MANAGEMENT FEE INCLUDES ITEMS REFERENCED O 1110000 THE PRICE GROUP LLC P 215685 THE PRICE GROUP LLC Q 20991 THE PRICE GROUP LLC O 201232 PRICE PHILANTHROPIES FOUNDATION - TOTAL RENT PAID A 582043 PRICE PHILANTHROPIES FOUNDATION - TOTAL RENT PAID J 582043 PRICE PHILANTHROPIES FOUNDATION O 61011 PRICE PHILANTHROPIES FOUNDATION Q 46142 PRICE PHILANTHROPIES FOUNDATION P 18163 PRICESMART INC F 1931630 SCHEDULE R, PART V, LINE 2, COLUMN (C) AND (D): THE ORGANIZATION CALCULATED ACTUAL COST INCURRED AND PAID AND VALIDATED AGAINST FAIR MARKET VALUE TO DETERMINE THE VALUE OF SERVICES, CASH, AND OTHER ASSETS REPORTED.