Mission
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.
Public Charity
TERRACE GARDENS INC
Based in MILPITAS, CA, TERRACE GARDENS INC operates as a Public Charity. The organization reported $2.7M in revenue, $2.8M in expenses, $10.7M in total assets for fiscal year 2025.
EIN: 770158519
MILPITAS, CA
Latest filing: 2025
Total Revenue$2.7M
Total Expenses$2.8M
Total Assets$10.7M
Grant Records0
Filing Years2021–2025
Where $100 goes at Terrace Gardens Inc
How Terrace Gardens Inc divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.
$96
Programs
the work itself
$4
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $96 for programs
$71
The organization develops and manages the operations of a residential complex which consists of 148 rental units, 3 guest rooms, and 2 staff units
$25
Food services are provided for the well-being of the elderly tenants, for a number of 180 people
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Officers & Directors
DIRECTOR (THRU 7/25)
James Nichols
PRESIDENT
Jill Kauffman
DIRECTOR
Marsha Grilli
DIRECTOR
Nasir Lalani
SECRETARY/TREASURER
Steven Sharp
VICE PRESIDENT
Thomas Valore
Officer compensation and complete director data available with membership.
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $2.7M | $2.8M | $10.7M |
| 2024 | $2.8M | $2.6M | $10.6M |
| 2023 | $2.6M | $2.5M | $10.5M |
| 2022 | $2.3M | $2.4M | $10.4M |
| 2021 | $2.4M | $2.4M | $10.4M |
Between 2021 and 2025, reported annual revenue grew from $2.4M to $2.7M (+13%), with total assets most recently reported at $10.7M.
Interactive year-over-year charts and full filing details available with membership.