Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $3,091,207

• 1f · All other contributions, gifts and grants

  $27,220,794

• 1g · Noncash contributions included above

  $402,452

• 3 · Investment income

  total $5,926,086 · excluded $5,926,086

• 5 · Royalties

  total $738 · excluded $738

• 7a · Gross sales of assets other than inventory

  securities $208,998,394

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

  securities $208,567,248

• 7c · Gain or loss

  securities $431,146

• 7d · Net gain or loss

  total $431,146 · excluded $431,146

• 11a · Other revenue: ADMIN FEE AND EXPENSE

  total $1,135,885 · related or exempt $32,118 · excluded $1,103,767

• 11b · Other revenue: AHI LOAN FEE INCOME

  total $563,503 · related or exempt $563,503

• 11c · Other revenue: ALL OTHER REVENUE

  total $311,749 · excluded $311,749

• 11e · Other revenue, total

  $2,011,137

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $28,318,136 · program services $28,318,136

• 5 · Compensation of officers, directors and key employees

  total $1,543,485 · program services $683,847 · management and general $460,362 · fundraising $399,276

• 7 · Other salaries and wages

  total $5,556,797 · program services $2,833,344 · management and general $983,206 · fundraising $1,740,247

• 8 · Pension plan contributions

  total $551,606 · program services $228,205 · management and general $199,822 · fundraising $123,579

• 9 · Other employee benefits

  total $426,479 · program services $229,072 · management and general $65,086 · fundraising $132,321

• 10 · Payroll taxes

  total $569,639 · program services $372,288 · management and general $79,765 · fundraising $117,586

• 11b · Fees: legal

  total $380 · management and general $380

• 11c · Fees: accounting

  total $148,590 · management and general $148,590

• 11d · Fees: lobbying

  total $55,050 · program services $55,050

• 11e · Fees: professional fundraising services

  total $178,744 · fundraising $178,744

• 11f · Fees: investment management

  total $39,536 · management and general $39,536

• 11g · Fees: other

  total $4,350,656 · program services $3,653,929 · management and general $381,528 · fundraising $315,199

• 12 · Advertising and promotion

  total $247,467 · program services $154,268 · management and general $34,324 · fundraising $58,875

• 13 · Office expenses

  total $201,940 · program services $98,771 · management and general $56,774 · fundraising $46,395

• 14 · Information technology

  total $740,987 · program services $317,086 · management and general $242,327 · fundraising $181,574

• 16 · Occupancy

  total $902,882 · program services $481,706 · management and general $260,565 · fundraising $160,611

• 17 · Travel

  total $228,668 · program services $111,155 · management and general $68,562 · fundraising $48,951

• 19 · Conferences, conventions and meetings

  total $148,801 · program services $67,529 · management and general $39,672 · fundraising $41,600

• 20 · Interest

  total $4,036,205 · program services $4,032,561 · management and general $2,262 · fundraising $1,382

• 21 · Payments to affiliates

  total $347,210 · program services $145,828 · management and general $124,996 · fundraising $76,386

• 22 · Depreciation, depletion and amortization

  total $126,400 · program services $53,088 · management and general $45,504 · fundraising $27,808

• 23 · Insurance

  total $122,663 · program services $51,518 · management and general $44,159 · fundraising $26,986

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $621,122 · program services $621,122

• 24b · Other expenses: MISCELLANEOUS EXPENSES

  total $167,152 · program services $87,568 · management and general $52,764 · fundraising $26,820

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $17,058,770 · end of year $14,790,793

• 2 · Savings and temporary cash investments

  beginning of year $30,190,989 · end of year $63,601,027

• 3 · Pledges and grants receivable

  beginning of year $3,511,116 · end of year $2,974,460

• 4 · Accounts receivable

  beginning of year $768,564 · end of year $751,319

• 7 · Other notes and loans receivable

  end of year $47,670,395

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,400,762 · end of year $1,746,780

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

  $1,945,573

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

  $1,849,699

• 10c · Land, buildings and equipment, net

  beginning of year $222,274 · end of year $95,874

• 11 · Investments: publicly traded securities

  beginning of year $35,442,921 · end of year $41,137,927

• 12 · Investments: other securities

  beginning of year $0 · end of year $963,341

• 13 · Investments: program-related

  beginning of year $3,450,000 · end of year $3,406,566

• 15 · Other assets

  beginning of year $925,018 · end of year $11,030,058

• 17 · Accounts payable and accrued expenses

  beginning of year $2,882,051 · end of year $2,924,407

• 18 · Grants payable

  beginning of year $2,427,786 · end of year $2,960,530

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $418,695 · end of year $418,695

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $94,907,792

• 24 · Unsecured notes and loans payable

  beginning of year $35,000 · end of year $10,045,000

• 25 · Other liabilities

  beginning of year $1,361,770 · end of year $1,125,040

• 27 · Net assets without donor restrictions

  beginning of year $43,275,526 · end of year $43,061,676

• 28 · Net assets with donor restrictions

  beginning of year $42,569,586 · end of year $32,725,400

The filer's explanations (Part III)

PART I, LINE 4B

UNITED WAY OF GREATER LOS ANGELES ESTABLISHED A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) FOR ITS CURRENT CEO AND PRESIDENT, ELISE BUIK, AFTER SHE WAS HIRED IN 2005. THIS PLAN WAS APPROVED BY THE BOARD IN JULY 2008 AND $25,000 WAS FUNDED TO A RABBI TRUST IN DECEMBER 2008. SUBSEQUENTLY ADDITIONAL AMOUNT WAS FUNDED ANNUALLY BASED ON AN ACTUARIAL CALCULATION FOR EXPECTED PAYMENT OBLIGATIONS. THIS PLAN IS ALSO KNOWN AS A BENEFIT RESTORATION PLAN (BRP) AS THE PURPOSE OF THE PLAN IS INTENDED TO "RESTORE" BENEFITS LOST TO AN EMPLOYEE UNDER A TAX-QUALIFIED DEFINED BENEFIT PLAN (E.G., PENSION PLAN) DUE TO INTERNAL REVENUE CODE LIMITS (E.G., LIMITS ON COVERED COMPENSATION, MAXIMUM BENEFIT). FOR CALENDAR YEAR 2023 (THE YEAR WE ARE REQUIRED TO USE FOR 6/30/2024 FORM 990 REPORTING), THE LIMITS ON COVERED COMPENSATION ARE ANNUAL INCOME OF $330,000. THIS AMOUNT IS ADJUSTED ANNUALLY FOR INFLATION, IT IS $345,000 IN 2024 AND $350,000 IN 2025. IN ACCORDANCE WITH THE PLAN DOCUMENT, MS. BUIK MET A VESTING REQUIREMENT THAT WAS ESTABLISHED AS A RETENTION TOOL THAT WOULD TRIGGER A DISTRIBUTION UPON AGE 55; SHE BECAME 100% VESTED IN JANUARY 2019. CONSEQUENTLY, SHE SHOULD RECEIVE AN ANNUAL DISTRIBUTION FROM THIS BRP PLAN. UNITED WAY OF GREATER LOS ANGELES ENGAGE AN ACTUARY FIRM TO CALCULATE THE DISTRIBUTION AMOUNT. IN AUGUST 2023, $14,032 WAS PAID TO MS. BUIK FOR THE ANNUAL DISTRIBUTION. THIS AMOUNT WAS REPORTED IN HER GROSS WAGES IN FORM 2023 W2, AND IT WAS INCLUDED IN "OTHER REPORTABLE COMPENSATION" COLUMN B (III) ON SCHEDULE J, PART II. THIS ENTIRE AMOUNT WAS ALSO REPORTED AS A DEFERRED COMPENSATION IN FORM 990 FROM PRIOR YEARS AND IT WAS REPORTED IN THIS YEAR'S FORM 990 IN COLUMN F, SCHEDULE J, PART II. THE $72,302 ESTIMATED INCREASE IN THE VALUE OF THE SERP/BRP IS REPORTED AS DEFERRED COMPENSATION IN COLUMN C, SCHEDULE J, PART II.

PART I, LINE 7

CERTAIN MEMBERS OF THE EXECUTIVE TEAM MET THE CRITERIA TO RECEIVE BONUSES BASED ON THEIR SCORECARD RESULTS. THE SCORECARD WAS APPROVED BY THE BOARD AT THE BEGINNING OF FISCAL YEAR, AND THE RESULTS WERE APPROVED BY THE BOARD EVERY JULY AFTER THE YEAR END. THESE BONUSES WERE INCLUDED IN SCHEDULE J, PART II, COLUMN B (II).

Disregarded entities

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

• AHI FUND II LLC

  PROMOTES THE DEVELOPMENT AND MAINTENANCE OF HOUSING IN LOS ANGELES COUNTY. · DE · income $3,395,457 · assets $103,950,181

  Directly controlled by UNITED WAY INC