Totals
- Total revenue
- $1,369,474
- Total expenses
- $344,474
- Contributions and grants received
- $1,369,474
- Grants paid
- $500
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $1,025,000
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $1,025,000
- Program services expenses (Part IX)
- $49,280
- Management and general expenses
- $295,194
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $49,280
Program services were 14.3% 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.
-
1d · Related organizations
$1,369,474
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $500 · program services $500
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $210,808 · program services $42,162 · management and general $168,646
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $11,727 · program services $2,345 · management and general $9,382
-
10 · Payroll taxes
total $12,654 · program services $2,531 · management and general $10,123
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $42,238 · management and general $42,238
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $34,441 · management and general $34,441
-
12 · Advertising and promotion
total $2,553 · management and general $2,553
-
13 · Office expenses
total $1,094 · management and general $1,094
-
14 · Information technology
total $196 · management and general $196
-
15 · Royalties
total $0
-
16 · Occupancy
total $8,708 · program services $1,742 · management and general $6,966
-
17 · Travel
total $15,645 · management and general $15,645
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $649 · management and general $649
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24e · All other expenses
total $3,261 · management and general $3,261
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $1,025,000
-
27 · Net assets without donor restrictions
end of year $1,025,000
Mission and programs · 2022
Mission
To be a catalyst for investment in Los Angeles metropolitan communities throught innovative financial products, targeted economic and community development programming, and the development of strategic partnerships that promote community collaboration and capacity building.
Activities or mission (Part I)
See description on Page 2, Part III, Line 1
-
We did not receive our Californias Finance Lenders license until November 2022. As such are primary programmatic accomplishments were establishing relationships with referral partners, a partner to facilitate state loan guarantees, funding partners, and borrowers seeking credit.
Expenses $49,280
As filed on the 2022 return.
Listed in Part VII
-
David Desai-RamirezDAVID DESAI-RAMIREZ
PRESIDENT
- Total calculated
- $206,370
- From this org
- $0
- From related orgs
- $194,587
- Other
- $11,783
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- not reported + $194,587 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $5,838 related
- Nontaxable benefits
- not reported + $6,396 related
- Filer's total
- not reported + $206,821 related
-
Jacquelyn JonesJACQUELYN JONES
CHAIR
- Total calculated
- $0
- Hours/week
- 1.5
-
Daniel FernandezDANIEL FERNANDEZ
TREASURER
- Total calculated
- $0
- Hours/week
- 1.5
-
Ruben Alonso IIIRUBEN ALONSO III
SECRETARY
- Total calculated
- $0
- Hours/week
- 1.5 + 40 related
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343209349304004
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