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Nonprofiteer
← LA COCINA INC

Form 990 for tax year 2022

Filed by LA COCINA INC.

Totals

Total revenue
$7,606,754
Total expenses
$8,348,977
Contributions and grants received
$5,632,624
Grants paid
$35,000
Program service revenue
$1,827,950
Investment income
$10,020
Other revenue
$136,160
Total assets, end of year
$11,212,299
Total liabilities, end of year
$1,061,000
Net assets or fund balances, end of year
$10,151,299
Program services expenses (Part IX)
$6,296,297
Management and general expenses
$1,396,082
Fundraising expenses
$656,598
Program service expenses (Part III)
$6,296,297

Program services were 75.4% 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.

  • 1e · Government grants (contributions)

    $396,407

  • 1f · All other contributions, gifts and grants

    $5,236,217

  • 1g · Noncash contributions included above

    $97,594

  • 2a · Program service revenue: FOOD PROGRAM REVENUE

    total $1,356,907 · related or exempt $1,356,907

  • 2b · Program service revenue: PROGRAM RENTAL FEES

    total $335,773 · related or exempt $335,773

  • 2c · Program service revenue: PRGRAM EVENTS

    total $88,531 · related or exempt $88,531

  • 2d · Program service revenue: INCUBATOR CONSLUTING

    total $35,322 · related or exempt $35,322

  • 2e · Program service revenue: MEMBERSHIP DUES

    total $10,775 · related or exempt $10,775

  • 2f · All other program service revenue

    total $642 · related or exempt $642

  • 3 · Investment income

    total $10,020 · excluded $10,020

  • 11a · Other revenue: PROPERTY TAX RECEIVABL

    total $134,037 · excluded $134,037

  • 11b · Other revenue: OTHER REVENUE

    total $2,123 · excluded $2,123

  • 11e · Other revenue, total

    $136,160

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $35,000 · program services $35,000

  • 5 · Compensation of officers, directors and key employees

    total $365,774 · program services $215,702 · management and general $89,189 · fundraising $60,883

  • 7 · Other salaries and wages

    total $2,627,656 · program services $1,549,564 · management and general $640,719 · fundraising $437,373

  • 10 · Payroll taxes

    total $188,247 · program services $111,012 · management and general $45,901 · fundraising $31,334

  • 11b · Fees: legal

    total $42,536 · program services $12,616 · management and general $29,920

  • 11c · Fees: accounting

    total $313,260 · program services $8,500 · management and general $304,760

  • 11g · Fees: other

    total $278,248 · program services $114,087 · management and general $90,146 · fundraising $74,015

  • 13 · Office expenses

    total $30,838 · program services $16,153 · management and general $11,207 · fundraising $3,478

  • 14 · Information technology

    total $135,108 · program services $41,858 · management and general $54,602 · fundraising $38,648

  • 16 · Occupancy

    total $92,295 · program services $88,518 · management and general $3,777

  • 17 · Travel

    total $93,856 · program services $64,221 · management and general $24,960 · fundraising $4,675

  • 20 · Interest

    total $7,401 · management and general $7,401

  • 22 · Depreciation, depletion and amortization

    total $1,444,005 · program services $1,427,534 · management and general $16,471

  • 23 · Insurance

    total $31,476 · program services $23,661 · management and general $7,228 · fundraising $587

  • 24a · Other expenses: RETAIL COST OF SALES

    total $1,656,606 · program services $1,651,334 · fundraising $5,272

  • 24b · Other expenses: PROGRAM COST OF SALES

    total $499,047 · program services $499,047

  • 24c · Other expenses: UTILITIES

    total $176,286 · program services $167,813 · management and general $8,473

  • 24d · Other expenses: PROPERTY TAXES

    total $139,950 · program services $139,950

  • 24e · All other expenses

    total $191,388 · program services $129,727 · management and general $61,328 · fundraising $333

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,399,245 · end of year $5,048,192

  • 4 · Accounts receivable

    beginning of year $1,066,467 · end of year $941,447

  • 8 · Inventories for sale or use

    beginning of year $43,399 · end of year $32,961

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,624 · end of year $27,041

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

    $9,060,465

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

    $4,093,672

  • 10c · Land, buildings and equipment, net

    beginning of year $6,315,979 · end of year $4,966,793

  • 15 · Other assets

    beginning of year $5,604 · end of year $195,865

  • 17 · Accounts payable and accrued expenses

    beginning of year $658,317 · end of year $629,894

  • 19 · Deferred revenue

    beginning of year $68,060 · end of year $43,332

  • 24 · Unsecured notes and loans payable

    beginning of year $217,602 · end of year $170,824

  • 25 · Other liabilities

    beginning of year $10,000 · end of year $216,950

  • 27 · Net assets without donor restrictions

    beginning of year $9,462,876 · end of year $7,891,788

  • 28 · Net assets with donor restrictions

    beginning of year $1,431,463 · end of year $2,259,511

Mission and programs · 2022

Mission

AFFORDABLE COMMERCIAL KITCHEN SPACE AND HANDS-ON TECHNICAL ASSISTANCE FOR LOW-INCOME AND IMMIGRANT ENTREPENEURS.

  • LA COCINA PROVIDES COMMERCIAL KITCHEN SPACE AND TECHNICAL ASSISTANCE TO LOW-INCOME ENTREPRENEURS WHO ARE LAUNCHING, GROWING, AND FORMALIZING FOOD BUSINESSES. WE PROVIDE ACCESS TO MARKET OPPORTUNITIES THROUGH CATERING, RETAIL PRODUCT SALES, AND A FOOD HALL TO OUR CLIENTS TO FURTHER BUSINESS SKILLS, DEVELOP A CUSTOMER BASE, GENERATE FAMILY INCOME, AND SUPPORT COMMUNITY VIBRANCY.

    Expenses $6,296,297 · Grants $35,000 · Revenue $1,827,950

As filed on the 2022 return.

Listed in Part VII

  • Suzanne Cutts

    BOARD MEMBER (LEFT 7/2022)

    Total calculated
    $0
    Hours/week
    6

  • Lindsay Hower

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Daniel Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5.6

  • Katie Colendich

    GOVERNANCE CHAIR

    Total calculated
    $0
    Hours/week
    3.6

  • Alina Hua

    DEVELOPMENT/AUDIT CHAIR

    Total calculated
    $0
    Hours/week
    3.6

  • Laura Sagues Barr

    FINANCE CHAIR/TREASUER

    Total calculated
    $0
    Hours/week
    3.6

  • Nubia Solomon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.4

  • Huong Nguyen-Yap

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.4

  • Kim Alter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.4

  • Linda Xu

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.4

  • Fernay McPherson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Leticia Landa

    EXECUTIVE DIRECTOR (START 6/23/2023)

    Total calculated
    $189,630
    From this org
    $189,630
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,630
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $189,630

  • Dilsa Lugo

    PROGRAM CHAIR

    Total calculated
    $0
    Hours/week
    4.8

  • Deborah Alvarez-Rodriguez

    EXECUTIVE DIRECTOR (LEFT 6/15/2023)

    Total calculated
    $176,144
    From this org
    $176,144
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,144
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $176,144

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 · Independent compensation consultant
  • 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
  • 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

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411369349306931

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