Totals
- Total revenue
- $424,610
- Total expenses
- $770,907
- Contributions and grants received
- $56,100
- Grants paid
- $186,642
- Program service revenue
- $95,776
- Investment income
- $24
- Other revenue
- $272,710
- Total assets, end of year
- $4,829,910
- Total liabilities, end of year
- $5,633,287
- Net assets or fund balances, end of year
- -$803,377
- Program services expenses (Part IX)
- $681,885
- Management and general expenses
- $89,022
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $681,885
Program services were 88.5% 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.
-
1f · All other contributions, gifts and grants
$56,100
-
2a · Program service revenue: CONSTRUCTION BILLING
total $95,776 · related or exempt $95,776
-
3 · Investment income
total $24 · related or exempt $24
-
6a · Gross rents
real property $107,804
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $107,804
-
6d · Net rental income or loss
total $107,804 · related or exempt $107,804
-
11a · Other revenue: FLOWTHROUGH CONSTRUCTI
total $119,736 · related or exempt $119,736
-
11b · Other revenue: CONSULTING REVENUE
total $49,702 · related or exempt $49,702
-
11c · Other revenue: OTHER INCOME
total $27,613 · related or exempt $27,613
-
11d · All other revenue
total -$32,145 · related or exempt -$32,145
-
11e · Other revenue, total
$164,906
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $186,642 · program services $186,642
-
5 · Compensation of officers, directors and key employees
total $187,800 · program services $172,577 · management and general $15,223
-
7 · Other salaries and wages
total $83,608 · program services $63,781 · management and general $19,827
-
8 · Pension plan contributions
total $2,291 · program services $1,853 · management and general $438
-
9 · Other employee benefits
total $14,978 · program services $11,633 · management and general $3,345
-
10 · Payroll taxes
total $6,912 · program services $6,912
-
11a · Fees: management
total $43,425 · program services $43,425
-
11b · Fees: legal
total $199 · program services $199
-
11c · Fees: accounting
total $28,303 · management and general $28,303
-
13 · Office expenses
total $10,347 · program services $6,995 · management and general $3,352
-
16 · Occupancy
total $19,455 · program services $15,194 · management and general $4,261
-
20 · Interest
total $33,165 · program services $33,165
-
22 · Depreciation, depletion and amortization
total $28,499 · program services $28,499
-
23 · Insurance
total $8,470 · program services $6,615 · management and general $1,855
-
24a · Other expenses: PROPERTY COST
total $65,090 · program services $65,090
-
24b · Other expenses: REPAIRS AND MAINTENANCE
total $45,316 · program services $33,229 · management and general $12,087
-
24c · Other expenses: POST TDC - CONSTRUCTION
total $4,838 · program services $4,838
-
24d · Other expenses: DUES AND SUBSCRIPTIONS
total $1,511 · program services $1,180 · management and general $331
-
24e · All other expenses
total $58 · program services $58
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $425,647 · end of year $77,482
-
2 · Savings and temporary cash investments
beginning of year $7,505 · end of year $7,504
-
7 · Other notes and loans receivable
beginning of year $1,600,323 · end of year $1,637,073
-
8 · Inventories for sale or use
beginning of year $4,908,073 · end of year $1,269,735
-
9 · Prepaid expenses and deferred charges
beginning of year $2,925
-
10a · Land, buildings and equipment: cost or other basis
$1,490,699
-
10b · Land, buildings and equipment: accumulated depreciation
$80,016
-
10c · Land, buildings and equipment, net
beginning of year $1,215 · end of year $1,410,683
-
13 · Investments: program-related
beginning of year $41,777 · end of year $186,340
-
15 · Other assets
beginning of year $272,329 · end of year $241,093
-
17 · Accounts payable and accrued expenses
beginning of year $205,920 · end of year $72,844
-
23 · Secured mortgages and notes payable
beginning of year $5,056,457 · end of year $2,885,053
-
25 · Other liabilities
beginning of year $2,497,714 · end of year $2,675,390
-
27 · Net assets without donor restrictions
beginning of year -$500,297 · end of year -$803,377
Mission and programs · 2022
Mission
REDUCE BLIGHT AND CREATE AFFORDABLE HOMEOWNERSHIP AND RENTAL OPPORTUNITIES IN NEIGHBORHOODS THROUGHOUT LOS ANGELES AND SURROUNDING COUNTIES BY PURCHASING, REHABILITATING, SELLING AND/OR DISPOSING OF RESIDENTIAL PROPERTIES.
Activities or mission (Part I)
TO STABILIZE NEIGHBORHOODS BY PLACING FORECLOSED AND VACANT DWELLING UNITS BACK IN USE.
-
SEE SCHEDULE O.
Expenses $681,885 · Grants $186,642 · Revenue $368,510
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dan FalconDAN FALCON
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Paul FreesePAUL FREESE
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Margie FranciaMARGIE FRANCIA
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Mott SmithMOTT SMITH
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
John PerfittJOHN PERFITT
EXECUTIVE DIRECTOR
- Total calculated
- $189,200
- From this org
- $189,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 25
Schedule J breakdown matched by us
- Base
- $189,200
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $189,200
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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
1408 W 62ND SUPPORTIVE HOUSING LLC
REAL ESTATE · CA
Directly controlled by RESTORE NEIGHBORHOODS LA
-
405 WESTLAKE SUPPORTIVE HOUSING LLC
REAL ESTATE · CA
Directly controlled by RESTORE NEIGHBORHOODS LA
-
5900 FIGUEROA SUPPORTIVE HOUSING LLC
REAL ESTATE · CA
Directly controlled by RESTORE NEIGHBORHOODS LA
-
WILLOWBROOK AFFORDABLE HOUSING LLC
REAL ESTATE · CA
Directly controlled by RESTORE NEIGHBORHOODS LA
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
SOUTH CENTRAL BUNGALOW GARDENS LLC
RELATED · GENERAL CONTRACTING · CA
Directly controlled by RESTORE NEIGHBORHOODS LA INC
-
JOVENES 4TH STREET HOUSING LLC
RELATED · GENERAL CONTRACTING · CA · 50% owned
Directly controlled by RESTORE NEIGHBORHOODS LA INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401349349303530
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