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Nonprofiteer
← East Las Vegas QALICB Inc

Form 990 for tax year 2024

Filed by East Las Vegas QALICB Inc.

Totals

Total revenue
$16,498,106
Total expenses
$23,072,811
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$16,498,106
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$23,039,310
Management and general expenses
$33,501
Fundraising expenses
$0
Program service expenses (Part III)
$23,039,310

Program services were 99.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 11a · Other revenue: Gain on debt forgiveness

    total $16,490,000 · related or exempt $16,490,000

  • 11b · Other revenue: Misc Income

    total $8,106 · related or exempt $8,106

  • 11e · Other revenue, total

    $16,498,106

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $24,250 · management and general $24,250

  • 11g · Fees: other

    total $9,251 · management and general $9,251

  • 22 · Depreciation, depletion and amortization

    total $108,866 · program services $108,866

  • 24a · Other expenses: Contribution to related

    total $22,930,444 · program services $22,930,444

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $921,938 · end of year $0

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $21,996,182 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $264,001 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $16,490,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $117,416 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $6,574,705 · end of year $0

Mission and programs · 2024

Mission

To acquire and lease real or personal property that is subject to certain restrictions and limitations for the benefit of the Las Vegas-Clark County Library District.

  • The East Las Vegas QALICB obtained financing in an arranged structure under the new markets tax credit program (NMTC). As result of participating in the NMTC program, East Las Vegas QALICB entered into two notes payable, which are secured by a deed of trust and assignments of leases and rents. Both of these notes bear interest at 1.20296% and are payable thereafter through July 25, 2057. The expenses in fiscal year 2024 were interest on the two loans and depreciation.

    Expenses $23,039,310

As filed on the 2024 return.

Listed in Part VII

  • Floresto Cabias

    President

    Total calculated
    $196,918
    From this org
    $0
    From related orgs
    $196,918
    Other
    $0
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,918 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $196,918 related

  • Karen Dutkowski

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    0.5

  • Moises Denis

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Saunders

    director

    Total calculated
    $0
    Hours/week
    0.5

  • Felipe Ortiz

    director

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2024
Filed
27 January 2026
IRS schema version
2024v5.5
Source object
202630709349300528

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