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Nonprofiteer
← PATH VENTURES

Form 990 for tax year 2022

Filed by PATH VENTURES.

Totals

Total revenue
$7,143,035
Total expenses
$3,032,491
Contributions and grants received
$1,620,622
Grants paid
$0
Program service revenue
$5,492,768
Investment income
$97,682
Other revenue
-$68,037
Total assets, end of year
$70,954,460
Total liabilities, end of year
$44,979,514
Net assets or fund balances, end of year
$25,974,946
Program services expenses (Part IX)
$2,349,266
Management and general expenses
$643,438
Fundraising expenses
$39,787
Program service expenses (Part III)
$2,349,266

Program services were 77.5% 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.

  • 1c · Fundraising events

    $139,171

  • 1e · Government grants (contributions)

    $627,806

  • 1f · All other contributions, gifts and grants

    $853,645

  • 2a · Program service revenue: DEVELOPER FEE INCOME

    total $4,737,141 · related or exempt $4,737,141

  • 2b · Program service revenue: INCENTIVE FEE INCOME

    total $137,201 · related or exempt $137,201

  • 2c · Program service revenue: OTHER INCOME

    total $71,196 · related or exempt $71,196

  • 2d · Program service revenue: PARTNERSHIP Mgmt FEe

    total $136,715 · related or exempt $136,715

  • 2e · Program service revenue: RENTAL INCOME

    total $410,515 · related or exempt $410,515

  • 3 · Investment income

    total $97,682 · excluded $97,682

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

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $4,680

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

    $139,171

  • 8b · Fundraising events: direct expenses

    $72,717

  • 8c · Net income from fundraising events

    total -$68,037

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

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 $645,239 · program services $459,971 · management and general $185,268

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $726,260 · program services $665,317 · management and general $60,943

  • 8 · Pension plan contributions

    total $25,460 · program services $22,150 · management and general $3,310

  • 9 · Other employee benefits

    total $44,637 · program services $39,535 · management and general $5,102

  • 10 · Payroll taxes

    total $89,571 · program services $78,823 · management and general $10,748

  • 11a · Fees: management

    total $534,000 · program services $218,904 · management and general $275,309 · fundraising $39,787

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $129,450 · program services $129,450

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $215,588 · program services $215,429 · management and general $159

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $11,080 · program services $5,540 · management and general $5,540

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $110,400 · program services $55,200 · management and general $55,200

  • 17 · Travel

    total $13,616 · program services $13,194 · management and general $422

  • 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 $1,470 · program services $735 · management and general $735

  • 23 · Insurance

    total $50,292 · program services $25,146 · management and general $25,146

  • 24a · Other expenses: RENTAL EXPENSE FROM K-1

    total $328,336 · program services $328,336

  • 24b · Other expenses: DEVELOPER FEE EXPENSES

    total $54,565 · program services $54,565

  • 24c · Other expenses: TAXES

    total $27,624 · program services $18,613 · management and general $9,011

  • 24d · Other expenses: EDUCATION/SEMINARS

    total $18,308 · program services $16,708 · management and general $1,600

  • 24e · All other expenses

    total $6,595 · program services $1,650 · management and general $4,945

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,822,514 · end of year $5,204,752

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $7,784,963 · end of year $8,484,282

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $10,038,195 · end of year $9,075,443

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $28,470 · end of year $28,470

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

    $35,369,022

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

    $2,523

  • 10c · Land, buildings and equipment, net

    beginning of year $35,367,969 · end of year $35,366,499

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $3,199,471 · end of year $3,250,875

  • 14 · Intangible assets

    beginning of year $407,830 · end of year $296,589

  • 15 · Other assets

    beginning of year $4,961,655 · end of year $9,247,550

  • 17 · Accounts payable and accrued expenses

    beginning of year $249,464 · end of year $314,950

  • 19 · Deferred revenue

    beginning of year $747,382

  • 23 · Secured mortgages and notes payable

    beginning of year $41,137,843 · end of year $43,927,143

  • 24 · Unsecured notes and loans payable

    beginning of year $303,814 · end of year $661,017

  • 25 · Other liabilities

    beginning of year $266,573 · end of year $76,404

  • 27 · Net assets without donor restrictions

    beginning of year $21,905,991 · end of year $23,898,505

  • 28 · Net assets with donor restrictions

    end of year $2,076,441

Mission and programs · 2022

Mission

THE ORGANIZATION'S PURPOSE IS TO DEVELOP AFFORDABLE HOUSING, PROMOTE COMMUNITY AND ECONOMIC DEVELOPMENT, AND ENCOURAGE NEIGHBORHOOD REVITALIZATION FOR LOW INCOME FAMILIES AND INDIVIDUALS.

Activities or mission (Part I)

TO IMPROVE INDIVIDUAL LIVES AND COMMUNITIES BY INCREASING QUALITY AFFORDABLE HOUSING.

  • THE ORGANIZATION BUILDS AFFORDABLE HOUSING AND PERMANENT SUPPORTIVE HOUSING FOR HOMELESS AND LOW INCOME INDIVIDUALS AND FAMILIES. WHAT DISTINGUISHES THE ORGANIZATION IS ITS APPROACH TO CREATING HOUSING THAT SERVES THE SPEcific NEEDS TO THE HOMELESS POPULATION.

    Expenses $2,349,266 · Revenue $5,492,768

As filed on the 2022 return.

Listed in Part VII

  • JENNIFER HARK-DIEtZ

    President

    Total calculated
    $377,088
    From this org
    $1,517
    From related orgs
    $345,073
    Other
    $30,498
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $1,517 + $345,073 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $30,498 related
    Filer's total
    $1,517 + $375,571 related

  • Joel Roberts

    CEO

    Total calculated
    $325,826
    From this org
    $292,458
    From related orgs
    $0
    Other
    $33,368
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $292,458
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $33,368
    Filer's total
    $325,826

  • Sarah Kolish

    COO

    Total calculated
    $246,800
    From this org
    $17,966
    From related orgs
    $192,866
    Other
    $35,968
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $17,966 + $192,866 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $35,968 related
    Filer's total
    $17,966 + $228,834 related

  • Sandy Oluwek

    CFO

    Total calculated
    $214,859
    From this org
    $28,234
    From related orgs
    $159,616
    Other
    $27,009
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $28,234 + $159,616 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $27,009 related
    Filer's total
    $28,234 + $186,625 related

  • Anthony Bahamondes

    SR DIR OF HSG

    Total calculated
    $156,869
    From this org
    $145,783
    From related orgs
    $0
    Other
    $11,086
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,783
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $11,086
    Filer's total
    $156,869

  • Lilian Najarro

    sr dir of finance

    Total calculated
    $148,683
    From this org
    $133,485
    From related orgs
    $0
    Other
    $15,198
    Hours/week
    40

  • Iris Alcantara

    asset mgmt dir.

    Total calculated
    $135,927
    From this org
    $124,192
    From related orgs
    $0
    Other
    $11,735
    Hours/week
    40

  • Lois Starr

    EXE officer

    Total calculated
    $114,827
    From this org
    $114,827
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Shiheng Guan

    PROJECT MANAGER

    Total calculated
    $109,006
    From this org
    $102,410
    From related orgs
    $0
    Other
    $6,596
    Hours/week
    40

  • Brian Tucker

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eileen Dardick

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Shane Goldsmith

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Karen Kurtzman

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jane Blumenfeld

    RECORDING SEC

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Perla Eston

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mary Kaiser

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Leslie Lambert

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ellen Nagler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Annick Hamon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sandeep Patel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Clair Orr

    FOUNDER

    Total calculated
    $0
    Hours/week
    1 + 1 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 · Form 990 of other organizations
  • 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
  • 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.

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.

Disregarded entities

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

  • MONTCLAIR GP LLC

    RENTAL REAL ESTATE · CA · income $9,093 · assets -$7,078

    Directly controlled by PATH VENTURES

  • PATH CONNECTIONS LLC

    RENTAL REAL ESTATE · CA · income $6,972 · assets -$203,972

    Directly controlled by PATH VENTURES

  • PATH VENTURES METRO 345 LLC

    RENTAL REAL ESTATE · CA · income $6,062 · assets $617,095

    Directly controlled by PATH VENTURES

  • PATH VENTURES WINNETKA LLC

    RENTAL REAL ESTATE · CA · income $11,992 · assets $11,800

    Directly controlled by PATH VENTURES

  • PV EUCALYPTUS VILLAS MGP LLC

    RENTAL REAL ESTATE · CA · income $4,520 · assets $380

    Directly controlled by PATH VENTURES

  • PV MARMION WAY LLC

    RENTAL REAL ESTATE · CA · income $7,368 · assets $50,344

    Directly controlled by PATH VENTURES

  • PV METRO VILLAS PHASE 2 GP LLC

    RENTAL REAL ESTATE · CA · income $5,503 · assets $459,654

    Directly controlled by PATH VENTURES

  • PV SOUTH GATE GP LLC

    RENTAL REAL ESTATE · CA · income $14,689 · assets $314,482

    Directly controlled by PATH VENTURES

  • PV VILLAS ON THE PARK GP LLC

    RENTAL REAL ESTATE · CA · income $28,847 · assets -$25,913

    Directly controlled by PATH VENTURES

  • PVH GP LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PATH VILLAS AT BUENA VISTA LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PV NORMANDIE LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PV MDR LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PV HIGHLAND LLC

    RENTAL REAL ESTATE · CA · income $253,085 · assets $2,426,540

    Directly controlled by PATH VENTURES

  • PV SS INGLEWOOD GP LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • 4TH ST MGP LLC

    RENTAL REAL ESTATE · CA · assets $100

    Directly controlled by PATH VENTURES

  • ELA GP LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • WCV MGP LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PV VERMONT LLC

    RENTAL REAL ESTATE · CA · income $16,441 · assets -$20,934

    Directly controlled by PATH VENTURES

  • PVEC 1 LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PVEC 2 LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PV WARREN LANE LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • PV WEST SLAUSON LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

Related partnerships

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

  • see attached

    CA · general or managing partner

    Directly controlled by see stmt

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313199349328621

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