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Nonprofiteer
← LOISAIDA INC

Form 990 for tax year 2024

Filed by LOISAIDA INC.

Totals

Total revenue
$674,243
Total expenses
$693,496
Contributions and grants received
$673,343
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$900
Total assets, end of year
$1,562,288
Total liabilities, end of year
$1,198,352
Net assets or fund balances, end of year
$363,936
Program services expenses (Part IX)
$528,036
Management and general expenses
$165,460
Fundraising expenses
$0
Program service expenses (Part III)
$528,036

Program services were 76.1% 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.

  • 1c · Fundraising events

    $91,227

  • 1e · Government grants (contributions)

    $523,982

  • 1f · All other contributions, gifts and grants

    $58,134

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $44,954

  • 8a · Fundraising events: contributions included on line 1c

    $91,227

  • 8b · Fundraising events: direct expenses

    $44,954

  • 8c · Net income from fundraising events

    total $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER INCOME

    total $900 · related or exempt $900

  • 11e · Other revenue, total

    $900

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 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 $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $256,025 · program services $233,286 · management and general $22,739

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $61,983 · program services $41,608 · management and general $20,375

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $79 · management and general $79

  • 11c · Fees: accounting

    total $29,162 · management and general $29,162

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $77,496 · program services $43,091 · management and general $34,405

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $114,041 · program services $76,396 · management and general $37,645

  • 14 · Information technology

    total $653 · program services $653

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $67,470 · program services $57,137 · management and general $10,333

  • 17 · Travel

    total $84 · program services $84

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $48,791 · program services $48,791

  • 23 · Insurance

    total $37,712 · program services $26,990 · management and general $10,722

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $64,263 · end of year $14,061

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $514,790 · end of year $583,585

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,142 · end of year $2,142

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

    $1,212,122

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

    $249,622

  • 10c · Land, buildings and equipment, net

    beginning of year $985,239 · end of year $962,500

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $117,620 · end of year $93,168

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,065,625 · end of year $1,105,184

  • 27 · Net assets without donor restrictions

    beginning of year $383,189 · end of year $363,936

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

TO BUILD A CONNECTION BETWEEN COMMUNITY, LEARNERS, ARTISTS AND SCHOLARS THROUGH AFFORDABLE EDUCATION OPPORTUNITIES IN CULTURAL FIELDS, S.T.E.A.M. DESIGN AND EVERYDAY LIFE. (SEE SCHEDULE O)

Activities or mission (Part I)

TO BUILD A CONNECTION BETWEEN COMMUNITY, LEARNERS, ARTISTS AND SCHOLARS THROUGH AFFORDABLE EDUCATION OPPORTUNITIES IN CULTURAL FIELDS, S.T.E.A.M. DESIGN AND EVERYDAY LIFE.

  • TO ADDRESS THE SERIOUS ECONOMIC AND SOCIAL DISENFRANCHISEMENT OF POOR AND LOW INCOME LATINO RESIDENTS, WITH EMPLOYMENT AND TRAINING OPPORTUNITIES, COMPREHENSIVE YOUTH DEVELOPMENT INITIATIVES. SINCE REOPENING IN 2014 ALL OUR PROGRAMS HAVE BEEN CAREFULLY CURATED AND DELIVERED BY A CORE GROUP OF HIGHLY COMMITTED EDUCATORS, ARTISTS, PHOTOGRAPHERS, DANCERS, ETC. AMONG THIS CORE GROUP OF FREELANCE INSTRUCTORS AND TEACHING ARTISTS ARE DOCTORS, RESEARCHERS AND PROFESSORS, AN AWARD WINING THEATER TROUPE, MONTESSORI-CERTIFIED TEACHERS, AMONG OTHERS. DELIVERED MORE THAN TWENTY (20) TRANS-GENERATIONAL COMMUNITY AND YOUTH EVENTS. SERVED FIVE HUNDRED (500) PEOPLE THAT ATTENDED THE CENTER. DEVELOPED TWO DISTINCT WEBSITES AND A SOLID SOCIAL MEDIA PRESENCE. REVAMPED AND EXTENDED THE LOISAIDA INC. ANNUAL FESTIVAL.THE NEW COMMUNITY CENTER FACILITY IS APPROXIMATELY 10,000 FEET ON TWO LEVELS WITHIN THE 710 EAST 9TH STREET BUILDING, WHICH ALSO HAS A RESIDENTIAL COMPONENT OF 55 UNITS OF HOUSING FOR YOUTH AGING OUT OF THE NYC FOSTER CARE SYSTEM. THE FIRST LEVEL OF THE TOTALLY ACCESSIBLE COMMUNITY CENTER SPACE HAS ITS OWN PRIVATE ENTRANCE, OFFICE SPACE, AND HOUSES THE MULTIMEDIA ARTS AND TECHNOLOGY. THE PERFORMANCE/MULTIPURPOSE SPACE, DRESSING ROOM, AND COMPLETE GALLEY KITCHEN, AS WELL AS ACCESSIBLE BATHROOM FACILITIES, AND TWO LARGE PRIVATE OPEN AIR SPACES, ARE LOCATED ON THIS LEVEL. THE SECOND GROUND FLOOR/CELLAR LEVEL, WHICH HAS ITS OWN STREET ACCESS, HOUSES ADDITIONAL OFFICE SPACE AND THE TEACHING COMMERCIAL KITCHEN, AS WELL AS THREE LARGE MULTIPURPOSE ACTIVITY ROOMS, ONE OF WHICH WILL BE A YOUTH LOUNGE AND RECREATION SPACE. THE COMMUNITY CENTER HAS ITS OWN ELEVATOR, WHICH ALLOWS FOR EASE OF USE, ACCESSIBILITY, AND TRANSPORT FROM BOTH LEVELS. EDUCATION & TRAINING CAPACITY: OUR FACILITY WAS CREATED WITH EDUCATION AND TRAINING AT THE FOREFRONT OF ITS CORE CAPABILITIES. WE HAVE ACCOMPLISHED THIS BY MIRRORING THE STANDARDS AND REQUIREMENT NEEDED TO BECOME A CERTIFIED TRAINING CENTER FOR OUR MAJOR SOFTWARE PACKAGES. BY ACCOMPLISHING THIS TASK OUR STUDENTS ARE GIVEN AN OPPORTUNITY TO LEARN A MULTITUDE OF APPLICATIONS THAT CAN FOSTER THEIR KNOWLEDGE IN THE AREAS OF MEDIA, WRITING, AND OFFICE SKILLS. ONE OF OUR CLASSROOM/LABS HAS BEEN CONFIGURED WITH SPECIFICATIONS REQUIRED TO ULTIMATELY BECOME AN APPLE AUTHORIZED TRAINING CENTER. PRODUCTION: OUR FACILITY PROVIDES AN IN-HOUSE PRODUCTION AND LIVE STUDIO/VIEWING SPACE ON SITE,AND HAS THE CAPACITY TO PROVIDE AND SUPPORT A WIDE BREATH OF REAL WORLD TOOLS IN THE FIELD OF MEDIA. IN EXPOSING OUR YOUTH TO THIS LEVEL OF CAPACITY, WE ENHANCE THEIR EMPLOYABILITY, ENTREPRENEURIAL OPPORTUNITIES, AND PROVIDE A FOUNDATION OF KNOWLEDGE FOR THEM THAT WILL BE LIFE-CHANGING.

    Expenses $528,036

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Raul Russi

    PRESIDENT

    Total calculated
    $998,427
    From this org
    $0
    From related orgs
    $896,597
    Other
    $101,830
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $693,183 related
    Bonus
    $0 + $203,414 related
    Other
    $0
    Deferred
    $0 + $50,625 related
    Nontaxable benefits
    $0 + $51,205 related
    Filer's total
    $0 + $998,427 related

  • Lymaris Albors

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $892,752
    From this org
    $0
    From related orgs
    $836,684
    Other
    $56,068
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $645,440 related
    Bonus
    $0 + $191,244 related
    Other
    $0
    Deferred
    $0 + $39,177 related
    Nontaxable benefits
    $0 + $16,891 related
    Filer's total
    $0 + $892,752 related

  • Jose A Rodriguez

    CHIEF LEGAL OFFICER

    Total calculated
    $592,593
    From this org
    $0
    From related orgs
    $562,331
    Other
    $30,262
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $513,136 related
    Bonus
    $0 + $49,195 related
    Other
    $0
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $13,762 related
    Filer's total
    $0 + $592,593 related

  • Vicky Gatell

    CHIEF FINANCIAL OFFICER

    Total calculated
    $488,994
    From this org
    $0
    From related orgs
    $442,213
    Other
    $46,781
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $403,779 related
    Bonus
    $0 + $38,434 related
    Other
    $0
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $30,281 related
    Filer's total
    $0 + $488,994 related

  • Henry Comas

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Angel Audiffred

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Wilfred Renta

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Anthony Rivera

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Marlene Peralta

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Deborah Quinones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

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

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
PURSUANT TO THE ORGANIZATION'S BY-LAWS, THE ORGANIZATION DELEGATES TO ITS PARENT ENTITY THE HIRING OF THE CEO AND PRESIDENT. THE COMPENSATION OF THE EXECUTIVES IS APPROVED BY THE PARENT ENTITY, WHO HIRES A CONSULTANT TO CONDUCT A STUDY. A STANDING COMMITTEE OF THE PARENT ENTITY REVIEWS A COMPENSATION STUDY AND VOTES ON HOW TO PROCEED.
PART I, LINE 7
THE BONUSES FOR THE CEO AND PRESIDENT ARE APPROVED BY THE BOARD OF THE PARENT COMPANY. THE REMAINING EXECUTIVE BONUSES ARE APPROVED BY THE CEO.

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 245 E Mosholu Apts LLC

    HOUSING · NY

    Directly controlled by 245 E MOSHOLU

  • 980 Prospect LLC

    Real Estate · NY

    Directly controlled by Promesa Enterpr

  • Acacia Gardens Affordable LLC

    Housing · NY

    Directly controlled by Acacia Gardens

  • Acacia Gardens Development LLC

    Development · NY

    Directly controlled by Acacia Gardens

  • Audubon Pharmacy LLC

    Retail Pharmacy · NY

    Directly controlled by Promesa Enterpr

  • Bella Vista LP

    Housing · NY

    Directly controlled by Bella Vista

  • Bushwick Gardens I PA LLC

    Housing · PA

    Directly controlled by Acacia Brooklyn

  • Casa Acacia LLC

    Real Estate · NY

    Directly controlled by Promesa Enterpr

  • Crotona Park Residences LLC

    Housing · NY

    Directly controlled by Crotona Park

  • Hope Gardens I PA LLC

    Housing · NY

    Directly controlled by Acacia Brooklyn

  • La Casa Quinta LP

    Housing · NY

    Directly controlled by El Barrios Oper

  • La Plaza de Virginia GP LLC

    Housing · NY

    Directly controlled by Hispanos Unidos

  • La Plaza de Virginia Owners LLC

    Housing · NY

    Directly controlled by La Plaza de Vir

  • La Plaza del Barrio LLC

    Housing · NY

    Directly controlled by Acacia Real Est

  • Maria Isabel LP

    Housing · NY

    Directly controlled by Maria Isabel

  • Maria Isabel Members LLC

    Housing · NY

    Directly controlled by Acacia Maria Is

  • Melrose Estates Housing LP

    Housing · NY

    Directly controlled by Melrose Court

  • Palacio Dorado LLC

    Housing · NY

    Directly controlled by Palacio Dorado

  • Promesa Apartments Limited Partnership

    Housing · NY

    Directly controlled by Promesa HDFC

  • Promesa Court Limited Partnership

    Housing · NY

    Directly controlled by Promesa Court

  • Promesa Court Residences Limited Partner

    Housing · NY

    Directly controlled by Promesa Court

  • San Jose LP

    Housing · NY

    Directly controlled by El Barrios Oper

  • San Jose Revedelopment Corp

    Housing · NY

    Directly controlled by El Barrios Oper

  • SV-B Partners LLC

    Housing · NY

    Directly controlled by La Plaza de Bar

  • Urban Renaissance Collaboration Limited

    Housing · NY

    Directly controlled by URC

  • Virginia House Residences LLC

    Housing · NY

    Directly controlled by Virginia House

  • West Tremont Residences LLC

    Housing · NY

    Directly controlled by West Tremont

  • 1675 JV ASSOCIATES LLC 47-5230

    Housing · NY

    Directly controlled by Promesa HDFC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 152 E 116th HDFC

    C Corp · Housing · NY

    Directly controlled by El Barrio Opera

  • 1675 Westchester Avenue Inc

    C Corp · Housing · NY

    Directly controlled by Promesa HDFC

  • 245 E Mosholu Inc

    C Corp · GP Housing · NY

    Directly controlled by 245 E Mosholu

  • 3196 3rd Ave Corp

    C Corp · Real Estate · NY

    Directly controlled by Don Pancho

  • 454 W 146th Street HDFC

    C Corp · Housing · NY

    Directly controlled by ACDP

  • 471 W 145th Street HDFC

    C Corp · Housing · NY

    Directly controlled by ACDP

  • 517 W 173rd Street HDFC

    C Corp · Housing · NY

    Directly controlled by ACDP

  • Acacia Brooklyn Corp

    C Corp · Housing · NY

    Directly controlled by Acacia Real Est

  • Acacia Gardens GP Inc

    C Corp · Housing · NY

    Directly controlled by Acacia Gardens

  • Acacia Maria Isabel Inc

    C Corp · GP Housing · NY

    Directly controlled by Promesa HDFC

  • ACD Affordable Corporation

    C Corp · Housing · NY

    Directly controlled by Acacia Gardens

  • Bella Vista Housing Company Inc

    C Corp · GP Housing · NY

    Directly controlled by SBCMC

  • Bronx Investors Holding Company Inc

    C Corp · Investing Hou · NY

    Directly controlled by SBCMC

  • Crotona Park Managers Inc

    C Corp · GP Housing · NY

    Directly controlled by Promesa HDFC

  • Don Pancho Development Corporation

    C Corp · Maintenance · NY

    Directly controlled by Bronx Investors

  • El Batey Housing Company Inc

    C Corp · GP Housing · NY

    Directly controlled by SBCMC

  • Five Fifteen West Inc

    C Corp · Housing · NY

    Directly controlled by ACDP

  • La Casa Quinta Dev Corp

    C Corp · Housing · NY

    Directly controlled by El Barrio Opera

  • Melrose Court Housing Company Inc

    C Corp · GP Housing · NY

    Directly controlled by SBCMC

  • One Seventy Four Inc

    C Corp · Housing · NY

    Directly controlled by ACDP

  • Palacio Dorado Development Inc

    C Corp · Housing · NY

    Directly controlled by Acacia Puerto R

  • Promesa Collateral Trust

    Trust · Insurance · NY

    Directly controlled by Acacian Network

  • Promesa Community Apartments

    C Corp · GP Housing · NY

    Directly controlled by Promesa HDFC

  • Promesa Court Estates Inc

    C Corp · GP Housing · NY

    Directly controlled by Acacia

  • Promesa Enterprises Ltd

    C Corp · Investment Mg · NY

    Directly controlled by Acacia

  • Urban Renaissance Collaboration Inc

    C Corp · GP Housing · NY

    Directly controlled by Promesa HDFC

  • Virginia House Managers Inc

    C Corp · GP Housing · NY

    Directly controlled by Promesa HDFC

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.2
Source object
202611359349307331

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