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Nonprofiteer
← LA CLINICA DE FAMILIA TITLE HOLDING CORPORATION

Form 990 for tax year 2022

Filed by LA CLINICA DE FAMILIA TITLE HOLDING CORPORATION.

Totals

Total revenue
$290,750
Total expenses
$738,239
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$290,750
Investment income
$0
Other revenue
$0
Total assets, end of year
$15,918,190
Total liabilities, end of year
$6,041,181
Net assets or fund balances, end of year
$9,877,009
Program services expenses (Part IX)
$738,239
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$738,239

Program services were 100.0% 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.

  • 2a · Program service revenue: RENTAL AND LEASING SER

    total $290,750 · related or exempt $290,750

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $249,410 · program services $249,410

  • 22 · Depreciation, depletion and amortization

    total $488,829 · program services $488,829

Balance sheet

Part X, book values.

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

    $24,783,957

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

    $8,865,767

  • 10c · Land, buildings and equipment, net

    beginning of year $16,407,020 · end of year $15,918,190

  • 23 · Secured mortgages and notes payable

    beginning of year $6,707,625 · end of year $6,041,181

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,699,395 · end of year $9,877,009

Mission and programs · 2022

Mission

LA CLINICA DE FAMILIA TITLE HOLDING CORPORATION WAS ESTABLISHED FOR THE PURPOSE OF OBTAINING NEW MARKETS TAX CREDIT FINANCING FOR THE RENOVATION OF LA CLINICA DE FAMILIA, INC.'S CENTRAL LAS CRUCES LOCATION. THE ORGANIZATION'S ONLY FUNCTION IS TO LEASE THE FULLY RENOVATED FACILITY TO LA CLINICA DE FAMILIA, INC.

  • THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH LA CLINICA DE FAMILIA, INC. FOR THE LEASE OF A FACILITY DESIGNED FOR HEALTH CARE PURPOSES. THE AGREEMENT ESTABLISHES QUARTERLY PAYMENTS OF $68,823.75 FOR THE YEAR ENDED 2017, QUARTERLY PAYMENTS OF $70,530 FOR THE PERIOD BEGINNING IN JANUARY 1, 2018 THROUGH DECEMBER 31, 2022, QUARTERLY PAYMENTS OF $75,707 FOR THE PERIOD BEGINNING IN JANUARY 1, 2023 THROUGH DECEMBER 31, 2023, AND QUARTERLY PAYMENTS OF $132,660 FOR THE PERIOD BEGINNING IN JANUARY 1, 2024 THROUGH DECEMBER 31, 2046.

    Expenses $738,239 · Revenue $290,750

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Fernando Clemente

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jorge Almuina

    CHIEF FINANCIAL OFFICER

    Total calculated
    $206,736
    From this org
    $0
    From related orgs
    $199,359
    Other
    $7,377
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $199,359 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $199,359 related

  • Virgil Medina

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $250,574
    From this org
    $0
    From related orgs
    $241,174
    Other
    $9,400
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $241,174 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $241,174 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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION IS DETERMINED BY THE ORGANIZATION'S RELATED ENTITY, LA CLINICA DE FAMILIA, INC. THE PROCESS CONSISTS OF AN EXTENSIVE WAGE AND SALARY SURVEY AND COMPARISON WITH SIMILAR COMMUNITY HEALTH CENTERS PERFORMED BY HUMAN RESOURCES. COMPARABLE SALARIES AT THE NEW MEXICO DEPARTMENT OF WORKFORCE SOLUTIONS, THE NATIONAL ASSOCIATION OF COMMUNITY HEALTH CENTERS, AND THE NEW MEXICO PRIMARY CARE ASSOCIATION ARE IDENTIFIED AND UTILIZED IN DETERMINING WAGE RATES FOR EMPLOYEES AND TOP MANAGEMENT. THE BOARD OF DIRECTORS REVIEWS AND APPROVES WAGE CHANGES FOR TOP MANAGEMENT AND KEY EMPLOYEES.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202323329349300222

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