Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $9,496,069

• 1f · All other contributions, gifts and grants

  $7,891,111

• 2a · Program service revenue: LOCAL REVENUE

  total $2,248,123 · related or exempt $2,248,123

• 3 · Investment income

  total $120,523 · excluded $120,523

• 6a · Gross rents

  real property $500

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $500

• 6d · Net rental income or loss

  total $500 · excluded $500

• 7a · Gross sales of assets other than inventory

  securities $10,782,000

• 7b · Less cost or other basis and sales expenses

  securities $10,699,893

• 7c · Gain or loss

  securities $82,107

• 7d · Net gain or loss

  total $82,107 · excluded $82,107

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $816,530 · program services $816,530

• 5 · Compensation of officers, directors and key employees

  total $1,259,121 · program services $934,135 · management and general $324,986

• 7 · Other salaries and wages

  total $7,801,906 · program services $7,268,055 · management and general $101,623 · fundraising $432,228

• 8 · Pension plan contributions

  total $120,024 · program services $120,024

• 9 · Other employee benefits

  total $774,944 · program services $714,463 · management and general $13,806 · fundraising $46,675

• 10 · Payroll taxes

  total $698,762 · program services $633,619 · management and general $31,784 · fundraising $33,359

• 11b · Fees: legal

  total $21,443 · management and general $21,443

• 11c · Fees: accounting

  total $3,950 · management and general $3,950

• 11g · Fees: other

  total $3,075,513 · program services $1,760,079 · management and general $1,315,434

• 12 · Advertising and promotion

  total $52,335 · management and general $52,335

• 13 · Office expenses

  total $1,006,417 · program services $740,290 · management and general $266,127

• 14 · Information technology

  total $74,049 · management and general $74,049

• 16 · Occupancy

  total $748,382 · program services $549,446 · management and general $191,321 · fundraising $7,615

• 17 · Travel

  total $83,965 · program services $83,757 · management and general $208

• 20 · Interest

  total $1,296,977 · management and general $1,296,977

• 22 · Depreciation, depletion and amortization

  total $993,171 · program services $672,227 · management and general $320,944

• 23 · Insurance

  total $247,518 · management and general $247,518

• 24a · Other expenses: FIELD TRIPS & PUPIL TRA

  total $1,244,694 · program services $1,244,694

• 24b · Other expenses: INSTRUCTIONAL MATERIALS

  total $197,656 · program services $197,656

• 24c · Other expenses: NON-CAPITAL OUTLAY

  total $145,816 · program services $123,692 · management and general $22,124

• 24d · Other expenses: DISTRICT OVERSIGHT FEE

  total $58,068 · management and general $58,068

• 24e · All other expenses

  total $1,223,419 · program services $672,794 · management and general $521,783 · fundraising $28,842

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $18,636,753 · end of year $6,705,316

• 3 · Pledges and grants receivable

  beginning of year $4,202,657

• 4 · Accounts receivable

  beginning of year $1,790,696 · end of year $5,272,224

• 9 · Prepaid expenses and deferred charges

  beginning of year $141,900 · end of year $108,528

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

  $35,429,348

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

  $2,867,612

• 10c · Land, buildings and equipment, net

  beginning of year $25,041,710 · end of year $32,561,736

• 11 · Investments: publicly traded securities

  end of year $1,011,340

• 15 · Other assets

  beginning of year $129,995 · end of year $174,602

• 17 · Accounts payable and accrued expenses

  beginning of year $1,640,582 · end of year $935,643

• 19 · Deferred revenue

  end of year $16,429

• 20 · Tax-exempt bond liabilities

  beginning of year $34,753,174 · end of year $34,638,697

• 24 · Unsecured notes and loans payable

  beginning of year $2,091,570 · end of year $781,277

• 25 · Other liabilities

  beginning of year $1,897,862 · end of year $1,995,409

• 27 · Net assets without donor restrictions

  beginning of year $5,434,650 · end of year $4,341,549

• 28 · Net assets with donor restrictions

  beginning of year $4,125,873 · end of year $3,124,742

The filer's explanations (Part III)

PART I, LINE 1A

AS A HEALTH AND WELLNESS BENEFIT, ALL LAPF EMPLOYEES HAVE ACCESS TO HEALTH CLUBS AND OTHER SERVICES LIMITED TO $50/M. IT WAS INCLUDED IN TAXABLE INCOME. KEY EMPLOYEES THAT USED THIS BENEFIT TOWARDS HEALTH CLUB MEMBERSHIPS WERE: CAMIRA CARTER, EDGAR CAMPOS, RON FERNANDO, AND LESLIE AARONSON.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• LA PROMISE FUND FACILITY LLC

  PROPERTY HOLDING LLC · CA · income $1,728,167 · assets $45,909,426

  Directly controlled by LA PROMISE FUND