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← PATH VENTURES

Form 990 for tax year 2023

Filed by PATH VENTURES.

Totals

Total revenue
$8,649,915
Total expenses
$5,786,089
Contributions and grants received
$5,009,987
Grants paid
$0
Program service revenue
$5,569,799
Investment income
-$1,805,235
Other revenue
-$124,636
Total assets, end of year
$89,891,977
Total liabilities, end of year
$62,206,083
Net assets or fund balances, end of year
$27,685,894
Program services expenses (Part IX)
$4,747,292
Management and general expenses
$1,001,803
Fundraising expenses
$36,994
Program service expenses (Part III)
$4,747,292

Program services were 82.0% 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.

  • 1c · Fundraising events

    $139,309

  • 1e · Government grants (contributions)

    $4,002,221

  • 1f · All other contributions, gifts and grants

    $868,457

  • 2a · Program service revenue: DEVELOPER FEE INCOME

    total $2,916,044 · related or exempt $2,916,044

  • 2b · Program service revenue: PARTNERSHIP Mgmt FEe

    total $199,450 · related or exempt $199,450

  • 2c · Program service revenue: RENTAL INCOME

    total $899,007 · related or exempt $899,007

  • 2d · Program service revenue: SECTION 754 DEPRECIATION

    total $231,688 · related or exempt $231,688

  • 2e · Program service revenue: SPONSOR FEE INCOME

    total $1,200,000 · related or exempt $1,200,000

  • 2f · All other program service revenue

    total $123,610 · related or exempt $123,610

  • 3 · Investment income

    total $312,530 · excluded $312,530

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

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    other assets $125,000

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

    other assets $2,242,765

  • 7c · Gain or loss

    other assets -$2,117,765

  • 7d · Net gain or loss

    total -$2,117,765 · excluded -$2,117,765

  • 8a · Fundraising events: gross income

    $3,600

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

    $139,309

  • 8b · Fundraising events: direct expenses

    $128,236

  • 8c · Net income from fundraising events

    total -$124,636

  • 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 $723,145 · program services $593,477 · management and general $129,668

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,449,752 · program services $1,317,607 · management and general $132,145

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $186,098 · program services $157,142 · management and general $28,956

  • 10 · Payroll taxes

    total $144,313 · program services $121,858 · management and general $22,455

  • 11a · Fees: management

    total $1,039,913 · program services $829,313 · management and general $210,600

  • 11b · Fees: legal

    total $1,098 · program services $1,098

  • 11c · Fees: accounting

    total $210,629 · program services $28,873 · management and general $181,756

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $558,328 · program services $495,897 · management and general $25,437 · fundraising $36,994

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $9,759 · management and general $9,759

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $110,400 · program services $22,080 · management and general $88,320

  • 17 · Travel

    total $19,485 · program services $19,485

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $136,651 · management and general $136,651

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $57,600 · program services $28,800 · management and general $28,800

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

    total $1,076,412 · program services $1,076,412

  • 24b · Other expenses: EDUCATION/SEMINARS

    total $24,359 · program services $23,872 · management and general $487

  • 24c · Other expenses: DEVELOPER FEE EXPENSES

    total $14,513 · program services $14,513

  • 24d · Other expenses: miscellaneous expense

    total $10,530 · program services $10,530

  • 24e · All other expenses

    total $13,104 · program services $6,335 · management and general $6,769

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,204,752 · end of year $3,827,450

  • 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 $8,484,282 · end of year $8,709,419

  • 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 $9,075,443 · end of year $9,029,695

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $28,470 · end of year $26,953

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

    $48,584,545

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

    $7,215

  • 10c · Land, buildings and equipment, net

    beginning of year $35,366,499 · end of year $48,577,330

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $3,250,875 · end of year $4,722,345

  • 14 · Intangible assets

    beginning of year $296,589 · end of year $0

  • 15 · Other assets

    beginning of year $9,247,550 · end of year $14,998,785

  • 17 · Accounts payable and accrued expenses

    beginning of year $314,950 · end of year $1,459,744

  • 23 · Secured mortgages and notes payable

    beginning of year $43,927,143 · end of year $60,488,731

  • 24 · Unsecured notes and loans payable

    beginning of year $661,017 · end of year $237,557

  • 25 · Other liabilities

    beginning of year $76,404 · end of year $20,051

  • 27 · Net assets without donor restrictions

    beginning of year $23,898,505 · end of year $26,423,649

  • 28 · Net assets with donor restrictions

    beginning of year $2,076,441 · end of year $1,262,245

Mission and programs · 2023

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 $4,747,292 · Revenue $5,569,799

As filed on the 2023 return.

Listed in Part VII

  • JENNIFER HARK-DIEtZ

    President

    Total calculated
    $423,702
    From this org
    $0
    From related orgs
    $378,431
    Other
    $45,271
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $378,431 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $45,271 related
    Filer's total
    not reported + $423,702 related

  • JOEL ROBERTS

    CEO

    Total calculated
    $383,268
    From this org
    $346,509
    From related orgs
    $0
    Other
    $36,759
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $346,509
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $36,759
    Filer's total
    $383,268

  • SARAH KOLISH

    COO

    Total calculated
    $286,545
    From this org
    $48,424
    From related orgs
    $191,580
    Other
    $46,541
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $48,424 + $191,580 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $2,421 + $44,120 related
    Filer's total
    $50,845 + $235,700 related

  • SANDY OLUWEK

    CFO

    Total calculated
    $266,494
    From this org
    $69,690
    From related orgs
    $163,694
    Other
    $33,110
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    $69,690 + $163,694 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $3,485 + $29,625 related
    Filer's total
    $73,175 + $193,319 related

  • ANTHONY BAHAMONDES

    SR DIR OF HSG

    Total calculated
    $215,857
    From this org
    $190,391
    From related orgs
    $0
    Other
    $25,466
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,391
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $25,466
    Filer's total
    $215,857

  • LILIAN NAJARRO

    sr dir of finance

    Total calculated
    $170,973
    From this org
    $146,669
    From related orgs
    $0
    Other
    $24,304
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,669
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $24,304
    Filer's total
    $170,973

  • SHIHENG GUAN

    PROJECT MANAGER

    Total calculated
    $124,503
    From this org
    $114,377
    From related orgs
    $0
    Other
    $10,126
    Hours/week
    40

  • MICHAEL BUSSE

    PROJECT DIRECTOR

    Total calculated
    $123,531
    From this org
    $110,915
    From related orgs
    $0
    Other
    $12,616
    Hours/week
    40

  • CYNTHIA WONG

    PROJECT DIRECTOR

    Total calculated
    $123,293
    From this org
    $110,758
    From related orgs
    $0
    Other
    $12,535
    Hours/week
    40

  • MICHAEL LANZA

    PROJECT DIRECTOR

    Total calculated
    $119,570
    From this org
    $106,378
    From related orgs
    $0
    Other
    $13,192
    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 $12,487 · assets $1,071,718

    Directly controlled by PATH VENTURES

  • PATH CONNECTIONS LLC

    RENTAL REAL ESTATE · CA · income $7,210 · assets -$197,017

    Directly controlled by PATH VENTURES

  • PATH VENTURES METRO 345 LLC

    RENTAL REAL ESTATE · CA · income $6,248 · assets $623,237

    Directly controlled by PATH VENTURES

  • PATH VENTURES WINNETKA LLC

    RENTAL REAL ESTATE · CA · income $12,351 · assets $12,140

    Directly controlled by PATH VENTURES

  • PV EUCALYPTUS VILLAS MGP LLC

    RENTAL REAL ESTATE · CA · income $4,657 · assets $4,990

    Directly controlled by PATH VENTURES

  • PV MARMION WAY LLC

    RENTAL REAL ESTATE · CA · income $7,591 · assets $57,848

    Directly controlled by PATH VENTURES

  • PV METRO VILLAS PHASE 2 GP LLC

    RENTAL REAL ESTATE · CA · income $5,691 · assets $464,897

    Directly controlled by PATH VENTURES

  • PV SOUTH GATE GP LLC

    RENTAL REAL ESTATE · CA · income $12,631 · assets $326,759

    Directly controlled by PATH VENTURES

  • PV VILLAS ON THE PARK GP LLC

    RENTAL REAL ESTATE · CA · income $19,998 · assets -$24,259

    Directly controlled by PATH VENTURES

  • PVH GP LLC

    RENTAL REAL ESTATE · CA · income $22,585 · assets $19,936

    Directly controlled by PATH VENTURES

  • PATH VILLAS AT BUENA VISTA LLC

    RENTAL REAL ESTATE · CA · income $289,045 · assets $8,265,239

    Directly controlled by PATH VENTURES

  • PV NORMANDIE LLC

    RENTAL REAL ESTATE · CA · income $750,000 · assets $12,392,789

    Directly controlled by PATH VENTURES

  • PV MDR LLC

    RENTAL REAL ESTATE · CA · income $159,097 · assets $13,076,098

    Directly controlled by PATH VENTURES

  • PV HIGHLAND LLC

    RENTAL REAL ESTATE · CA · income $375,449 · assets $2,242,034

    Directly controlled by PATH VENTURES

  • PV SS INGLEWOOD GP LLC

    RENTAL REAL ESTATE · CA · income $45,471 · assets $7,671,404

    Directly controlled by PATH VENTURES

  • 4TH ST MGP LLC

    RENTAL REAL ESTATE · CA · income $44,776 · assets $44,498

    Directly controlled by PATH VENTURES

  • ELA GP LLC

    RENTAL REAL ESTATE · CA · income $110,450 · assets $4,861,347

    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 $17,410 · assets -$12,685

    Directly controlled by PATH VENTURES

  • PVEC 1 LLC

    RENTAL REAL ESTATE · CA · income $3,841,941 · assets $3,841,941

    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 · income $60,462 · assets $7,415,805

    Directly controlled by PATH VENTURES

  • PV WEST SLAUSON LLC

    RENTAL REAL ESTATE · CA · assets $7,242,487

    Directly controlled by PATH VENTURES

  • STAR VILLAS LLC

    RENTAL REAL ESTATE · CA · income $34,290 · assets $2,350,971

    Directly controlled by PATH VENTURES

  • THE SIX VILLAS LLC

    RENTAL REAL ESTATE · CA · income $29 · assets -$86

    Directly controlled by PATH VENTURES

  • NEW PERSHING VILLAS LLC

    RENTAL REAL ESTATE · CA

    Directly controlled by PATH VENTURES

  • CENTRAL LA VILLAS LLC

    RENTAL REAL ESTATE · CA · income $217,288 · assets $4,704,501

    Directly controlled by PATH VENTURES

  • SIMONE VILLAS LLC

    RENTAL REAL ESTATE · CA · income $72,621 · assets $3,380,021

    Directly controlled by PATH VENTURES

  • FLOR VILLAS LLC

    RENTAL REAL ESTATE · CA · income $16,262 · assets $3,786,694

    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

  • PATH VILLAS EL CERRITO 1 LP

    RELATED · LOW INC HSG · CA · 32.49% owned · share of income $3,843,124 · share of assets $5,463,022 · general or managing partner

    Directly controlled by PVEC 1 LLC

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202433199349314548

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