Civic Intelligence

Las Palmas Foundation

990 • Fiscal year 2017 • EIN 33-0497515

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 08, 2018

531 Encinitas BoulevardEncinitas, CA 92024

(760) 944-9050

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

15th percentile

0.00x

Higher debt load relative to assets than 15% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

16th percentile

0.00x

Higher debt load relative to revenue than 16% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

23rd percentile

-7.6%

Higher net margin than 23% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

94th percentile

$275,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 33.3% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

33rd percentile

-1.3%

Faster asset growth than 33% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

0.9%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$4,911,206

Down $63,007 (-1.3%) from 2016

Net Assets

Down

$4,910,071

Down $62,891 (-1.3%) from 2016

Liabilities

Down

$1,135

Down $116 (-9.3%) from 2016

Revenue

Up

$826,159

Up $7,288 (+0.9%) from 2016

Expenses

Up

$889,050

Up $20,509 (+2.4%) from 2016

Net Income

Down

-$62,891

Down $13,221 (-27%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $2,478,535Liabilities 2010: $1,119Net Assets 2010: $2,477,4162010Assets 2013: $5,421,999Liabilities 2013: $1,744Net Assets 2013: $5,420,2552013Assets 2014: $5,523,800Liabilities 2014: $4,163Net Assets 2014: $5,519,6372014Assets 2015: $5,453,378Liabilities 2015: $0Net Assets 2015: $5,453,3782015Assets 2016: $4,974,213Liabilities 2016: $1,251Net Assets 2016: $4,972,9622016Assets 2017: $4,911,206Liabilities 2017: $1,135Net Assets 2017: $4,910,0712017Assets 2018: $4,862,756Liabilities 2018: $1,135Net Assets 2018: $4,861,6212018Assets 2019: $4,909,342Liabilities 2019: $1,135Net Assets 2019: $4,908,2072019Assets 2020: $5,167,900Liabilities 2020: $0Net Assets 2020: $5,167,9002020Assets 2021: $6,084,705Liabilities 2021: $0Net Assets 2021: $6,084,7052021Assets 2022: $6,856,312Liabilities 2022: $15,000Net Assets 2022: $6,841,3122022Assets 2023: $20,372,700Liabilities 2023: $917Net Assets 2023: $20,371,7832023Assets 2024: $25,900,318Liabilities 2024: $0Net Assets 2024: $25,900,3182024

Highlighted filing

2017

Assets$4,911,206
Liabilities$1,135
Net Assets$4,910,071

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $943,6032010Revenue 2013: $3,241,581Expenses 2013: $1,106,508Net Income 2013: $2,135,0732013Revenue 2014: $1,100,336Expenses 2014: $1,000,954Net Income 2014: $99,3822014Revenue 2015: $1,224,633Expenses 2015: $1,290,892Net Income 2015: -$66,2592015Revenue 2016: $818,871Expenses 2016: $868,541Net Income 2016: -$49,6702016Revenue 2017: $826,159Expenses 2017: $889,050Net Income 2017: -$62,8912017Revenue 2018: $914,698Expenses 2018: $963,148Net Income 2018: -$48,4502018Revenue 2019: $1,123,583Expenses 2019: $1,076,997Net Income 2019: $46,5862019Revenue 2020: $1,363,662Expenses 2020: $1,103,969Net Income 2020: $259,6932020Revenue 2021: $2,028,214Expenses 2021: $1,111,409Net Income 2021: $916,8052021Revenue 2022: $1,967,411Expenses 2022: $1,210,804Net Income 2022: $756,6072022Revenue 2023: $12,410,401Expenses 2023: $1,366,718Net Income 2023: $11,043,6832023Revenue 2024: $7,002,561Expenses 2024: $1,474,026Net Income 2024: $5,528,5352024

Highlighted filing

2017

Revenue$826,159
Expenses$889,050
Net Income-$62,891
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 8, 2018
Return Version
2017v2.2
Gross Receipts
$826,159
Mission and Program Overview

Mission

Las nbsp;palmas nbsp;foundation nbsp;a nbsp;california nbsp;non-profit nbsp;corporation nbsp;is nbsp;dedicated nbsp;to nbsp;acquire nbsp;develop nbsp;rehabilitate nbsp;and nbsp;support nbsp;affordable nbsp;housing nbsp;the nbsp;organization nbsp;was nbsp;created nbsp;to nbsp;increase nbsp;and nbsp;improve nbsp;housing nbsp;for nbsp;the nbsp;low- nbsp;and nbsp;moderate-income nbsp;families nbsp;and nbsp;indivduals

Las palmas foundation, a california non-profit corporation, is dedicated to acquire, develop, rehabilitate, and support affordable housing. The organization was created to increase and improve housing for low and moderate income families and individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,218,189$2,240,534▲ $22,345
Investments Program Related$1,624,944$1,516,700▼ $108,244
Cash and Non-Interest-Bearing Accounts$871,783$896,834▲ $25,051
Accounts Receivable$112,080$112,080→ $0
Prepaid Expenses and Deferred Charges$1,554$1,554→ $0
Land, Buildings, and Equipment, Net$3,237$1,078▼ $2,159
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$4,974,213$4,911,206▼ $63,007
Other Assets Total$142,426$142,426→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,251$1,135▼ $116
Total Liabilities$1,251$1,135▼ $116
Net Assets / Fund Balance
Unrestricted Net Assets$4,972,962$4,910,071▼ $62,891
Total Net Assets Fund Balance$4,972,962$4,910,071▼ $62,891
Total Liabilities and Net Assets / Fund Balance$4,974,213$4,911,206▼ $63,007

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$793$28,481$29,274
Other Land Buildings$285$18,023$18,308
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Joseph MichaelsPresidentFT$225,000$225,000

Board Members and Trustees

NameTitle
Randy StevensonDirector
Victor BaroneDirector
Sherry AverySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$550
Program Service Revenue
$820,926
Investment Income
$4,683
Other Revenue
$0
All Other Contributions
$550
Change in Net Assets
$-62,891
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$750,076
Other Expenses$138,974
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$285,198$68,426-$353,624
Current Officers, Directors, Trustees, and Key Employees$247,500$27,500-$275,000
Other Employee Benefits$54,563$9,826-$64,389
Occupancy$38,422$6,875-$45,297
Payroll Taxes$33,737$6,076-$39,813
Pension Plan Contributions$14,618$2,632-$17,250
Insurance$5,695$3,188-$8,883
Information Technology$6,364$1,471-$7,835
Fees for Services Accounting-$7,540-$7,540
Travel$7,066--$7,066
Office Expenses$5,212$1,219-$6,431
All Other Expenses$3,510$2,396-$5,906
Other Expenses$3,502$631-$4,133
Depreciation Depletion-$2,159-$2,159
Fees for Services Other$1,467$514-$1,981
Conferences and Meetings-$655-$655
Total Functional Expenses$743,642$145,408$0$889,050
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Joseph michaels, president is the husband of leslie michaels, office manager.joseph michaels is also the brother of susan newcomer who is a member of the boardof directors.

Form 990, Part VI, Line 11B: Form 990 Review Process

The board members are provided a draft copy of the form 990 tax return for review.the president or tax preparer answers any questions they might have. The presidentsigns the final 990 and then the return is filed on a timely basis.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

All matters are reviewed by the board of directors at least twice a year.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The organization uses information from compensation studies/surveys and form 990'sto determine compensation for the ceo, president and top management. The board ofdirectors vote and approve the compensation for the president, who is then presentedwith a written employment contract on an annual basis.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Las palmas foundation makes form 1123, form 990, governing documents, conflict ofinterest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Las Palmas Foundation
EIN
33-0497515
Phone
7609449050
Address
531 Encinitas Boulevard, Encinitas, CA 92024

Signing Officer

Name
Joseph Michaels
Title
President
Signed
2018-11-08
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Voting Board Members
4
Independent Board Members
3
Employees
7

Preparer

Firm
Victor J Barone CPA
Address
3112 Richland Drive, Las Vegas, NV 89134
Preparer
Victor J Barone
Phone
8183958933
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

Other program services 4: managing general partner in amcal mission fund limited partnership which owns and operates an 85 unit affordable family apartment complex in san diego, ca. Other program services 5: managing general partner in almaden senior housing partners limited partnershipwhich owns and operates a 66 unit affordable senior citizen apartment complex in san jose,ca. Other program services 6: managing general partner in gateway i housing investors limited partnership whichowns and operates a 42 unit affordable family apartment complex in san diego, ca. Other program services 7: managing general partner in la entrada housing investors limited partnership whichowns and operates a 85 unit affordable family apartment complex in san diego, ca. Other program services 8: managing general partner in almaden family housing partners limited partnershipwhich owns and operates a 220 unit affordable family apartment complex in san jose, ca. Other program services 9: managing general partner in syep associates limited partnership which owns and operates a 45 unit affordable family apartment complex in san ysidro, ca. Other program services 10: managing general partner in amcal los vientos fund limited partnership which owns and operates a 89 unit affordable family apartment complex in san diego, ca. Other program services 11: managing general partner in brawley housing investors limited partnership whichowns and operates a 69 unit affordable family apartment complex in brawley, ca. Other program services 12: managing general partner in solano vista ii housing investors limited partnershipwhich owns and operates a 194 unit senior citizen affordable housing project located in vallejo, ca. This property provides affordable housing to low and moderate income residents. Other program services 13: managing general partner in baywood affordable limited partnership which owns and operates a 77 unit hud section 8 senior citizen apartment complex in oakland, ca. Other program services 14: managing general partner in montebello senior housing limited partnership whichowns and operates a 189 unit hud section 8 senior citizen apartment complex in montebello, ca. Other program services 15: managing general partner in fresno family housing partners limited partnership whichowns and operates a 72 unit affordable family apartment complex in fresno, ca. Other program services 16: managing general partner of luna family housing, lp the owner of 79 unit afforable family apartment complex in carmel valley, ca. Other program services 17: managing general partner in plymouth west partners limited partnership whichowns and operates a 196 unit hud section 8 senior citizen apartment complex in long beach, ca. Other program services 18: managing general partner in amcal las brisas fund limited partnership which owns and operates a 66 unit affordable family apartment complex in los angeles, ca. Other program services 19: managing general partner in amcal casa la paz fund limited partnership whichowns and operates a 61 unit affordable family apartment complex in coachella, ca. Other program services 20: managing general partner in vallejo family housing partners limited partnershipwhich owns and operates a 87 unit affordable family apartment complex in vallejo, ca. Other program services 21: managing general partner in arvin family housing partners limited partnership whichowns and operates a 61 unit affordable family apartment complex in arvin, ca. Other program services 22: managing general partner in newport housing partners limited partnership whichowns and operates a 120 unit affordable senior citizen apartment complex in newport beach,ca. Other program services 23: managing general partner in cutler family housing partners limited partnership whichoowns and operates a 66 unit affordable family apartment complex in cutler, ca. Other program services 24: managing general partner in lindsay family housing partners limited partnershipwhich owns and operate

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IRS990/OtherExpensesGrp/Desc0AUTOMOBILE
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/Desc2BUSINESS TAXES
IRS990/OtherExpensesGrp/Desc3MEALS & ENTERTAINMENT
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11251
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21049
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3631
IRS990/OtherExpensesGrp/ProgramServicesAmt021067
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IRS990/OtherExpensesGrp/ProgramServicesAmt27762
IRS990/OtherExpensesGrp/ProgramServicesAmt33502
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IRS990/OtherExpensesGrp/TotalAmt19210
IRS990/OtherExpensesGrp/TotalAmt28811
IRS990/OtherExpensesGrp/TotalAmt34133
IRS990/OtherRevenueTotalAmt00
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IRS990/ProgramServiceRevenueGrp/Desc1DEVELOPER FEES
IRS990/ProgramServiceRevenueGrp/Desc2MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc3PARTNERSHIP INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0208332
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1160180
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1160180
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3-108046
IRS990/ProgSrvcAccomActy2Grp/Desc0MANAGING GENERAL PARTNER IN BAYWOOD AFFORDABLE LIMITED PARTNERSHIP WHICH OWNS AND OPERATES A 77 UNIT HUD SECTION 8 SENIOR CITIZEN APARTMENT COMPLEX IN OAKLAND, CA.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt014234
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt087987
IRS990/ProgSrvcAccomActy3Grp/Desc0MANAGING GENERAL PARTNER IN MONTEBELLO SENIOR HOUSING LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 189 UNIT HUD SECTION 8 SENIOR CITIZEN APARTMENT COMPLEX IN MONTEBELLO, CA.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt012495
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt031340
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IRS990/PYProgramServiceRevenueAmt0815300
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IRS990/PYTotalExpensesAmt0868541
IRS990/PYTotalRevenueAmt0818871
IRS990/QuidProQuoContributionsInd0false
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
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IRS990/ReportProgramRelatedInvstInd0true
IRS990/RevenueAmt0-29
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt02218189
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02240534
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0550
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt047171
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0357902
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0554623
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01184068
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt06689753
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt0-108046
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt0-59276
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt0216863
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt0-140176
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt0-3523
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt0-94158
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt04683
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03571
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt033652
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt09273
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt010183
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt061362
IRS990ScheduleA/InvestmentIncomeCYPct00.00850
IRS990ScheduleA/InvestmentIncomePYPct00.00900
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99150
IRS990ScheduleA/PublicSupportPY509Pct00.99100
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01190981
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01091063
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt03231398
IRS990ScheduleA/Total509Grp/TotalAmt07150218
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0826159
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0818871
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01224633
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01100336
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03241581
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07211580
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0793
IRS990ScheduleD/EquipmentGrp/DepreciationAmt028481
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt029274
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0285
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt018023
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt018308
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01078
IRS990ScheduleD/TotalBookValueProgramRltdAmt01516700
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0225000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOSEPH MICHAELS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0225000
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4: MANAGING GENERAL PARTNER IN AMCAL MISSION FUND LIMITED PARTNERSHIP WHICH OWNS AND OPERATES AN 85 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN SAN DIEGO, CA. OTHER PROGRAM SERVICES 5: MANAGING GENERAL PARTNER IN ALMADEN SENIOR HOUSING PARTNERS LIMITED PARTNERSHIPWHICH OWNS AND OPERATES A 66 UNIT AFFORDABLE SENIOR CITIZEN APARTMENT COMPLEX IN SAN JOSE,CA. OTHER PROGRAM SERVICES 6: MANAGING GENERAL PARTNER IN GATEWAY I HOUSING INVESTORS LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 42 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN SAN DIEGO, CA. OTHER PROGRAM SERVICES 7: MANAGING GENERAL PARTNER IN LA ENTRADA HOUSING INVESTORS LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 85 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN SAN DIEGO, CA. OTHER PROGRAM SERVICES 8: MANAGING GENERAL PARTNER IN ALMADEN FAMILY HOUSING PARTNERS LIMITED PARTNERSHIPWHICH OWNS AND OPERATES A 220 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN SAN JOSE, CA. OTHER PROGRAM SERVICES 9: MANAGING GENERAL PARTNER IN SYEP ASSOCIATES LIMITED PARTNERSHIP WHICH OWNS AND OPERATES A 45 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN SAN YSIDRO, CA. OTHER PROGRAM SERVICES 10: MANAGING GENERAL PARTNER IN AMCAL LOS VIENTOS FUND LIMITED PARTNERSHIP WHICH OWNS AND OPERATES A 89 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN SAN DIEGO, CA. OTHER PROGRAM SERVICES 11: MANAGING GENERAL PARTNER IN BRAWLEY HOUSING INVESTORS LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 69 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN BRAWLEY, CA. OTHER PROGRAM SERVICES 12: MANAGING GENERAL PARTNER IN SOLANO VISTA II HOUSING INVESTORS LIMITED PARTNERSHIPWHICH OWNS AND OPERATES A 194 UNIT SENIOR CITIZEN AFFORDABLE HOUSING PROJECT LOCATED IN VALLEJO, CA. THIS PROPERTY PROVIDES AFFORDABLE HOUSING TO LOW AND MODERATE INCOME RESIDENTS. OTHER PROGRAM SERVICES 13: MANAGING GENERAL PARTNER IN BAYWOOD AFFORDABLE LIMITED PARTNERSHIP WHICH OWNS AND OPERATES A 77 UNIT HUD SECTION 8 SENIOR CITIZEN APARTMENT COMPLEX IN OAKLAND, CA. OTHER PROGRAM SERVICES 14: MANAGING GENERAL PARTNER IN MONTEBELLO SENIOR HOUSING LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 189 UNIT HUD SECTION 8 SENIOR CITIZEN APARTMENT COMPLEX IN MONTEBELLO, CA. OTHER PROGRAM SERVICES 15: MANAGING GENERAL PARTNER IN FRESNO FAMILY HOUSING PARTNERS LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 72 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN FRESNO, CA. OTHER PROGRAM SERVICES 16: MANAGING GENERAL PARTNER OF LUNA FAMILY HOUSING, LP THE OWNER OF 79 UNIT AFFORABLE FAMILY APARTMENT COMPLEX IN CARMEL VALLEY, CA. OTHER PROGRAM SERVICES 17: MANAGING GENERAL PARTNER IN PLYMOUTH WEST PARTNERS LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 196 UNIT HUD SECTION 8 SENIOR CITIZEN APARTMENT COMPLEX IN LONG BEACH, CA. OTHER PROGRAM SERVICES 18: MANAGING GENERAL PARTNER IN AMCAL LAS BRISAS FUND LIMITED PARTNERSHIP WHICH OWNS AND OPERATES A 66 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN LOS ANGELES, CA. OTHER PROGRAM SERVICES 19: MANAGING GENERAL PARTNER IN AMCAL CASA LA PAZ FUND LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 61 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN COACHELLA, CA. OTHER PROGRAM SERVICES 20: MANAGING GENERAL PARTNER IN VALLEJO FAMILY HOUSING PARTNERS LIMITED PARTNERSHIPWHICH OWNS AND OPERATES A 87 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN VALLEJO, CA. OTHER PROGRAM SERVICES 21: MANAGING GENERAL PARTNER IN ARVIN FAMILY HOUSING PARTNERS LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 61 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN ARVIN, CA. OTHER PROGRAM SERVICES 22: MANAGING GENERAL PARTNER IN NEWPORT HOUSING PARTNERS LIMITED PARTNERSHIP WHICHOWNS AND OPERATES A 120 UNIT AFFORDABLE SENIOR CITIZEN APARTMENT COMPLEX IN NEWPORT BEACH,CA. OTHER PROGRAM SERVICES 23: MANAGING GENERAL PARTNER IN CUTLER FAMILY HOUSING PARTNERS LIMITED PARTNERSHIP WHICHOOWNS AND OPERATES A 66 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN CUTLER, CA. OTHER PROGRAM SERVICES 24: MANAGING GENERAL PARTNER IN LINDSAY FAMILY HOUSING PARTNERS LIMITED PARTNERSHIPWHICH OWNS AND OPERATE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1JOSEPH MICHAELS, PRESIDENT IS THE HUSBAND OF LESLIE MICHAELS, OFFICE MANAGER.JOSEPH MICHAELS IS ALSO THE BROTHER OF SUSAN NEWCOMER WHO IS A MEMBER OF THE BOARDOF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS ARE PROVIDED A DRAFT COPY OF THE FORM 990 TAX RETURN FOR REVIEW.THE PRESIDENT OR TAX PREPARER ANSWERS ANY QUESTIONS THEY MIGHT HAVE. THE PRESIDENTSIGNS THE FINAL 990 AND THEN THE RETURN IS FILED ON A TIMELY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL MATTERS ARE REVIEWED BY THE BOARD OF DIRECTORS AT LEAST TWICE A YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION USES INFORMATION FROM COMPENSATION STUDIES/SURVEYS AND FORM 990'STO DETERMINE COMPENSATION FOR THE CEO, PRESIDENT AND TOP MANAGEMENT. THE BOARD OFDIRECTORS VOTE AND APPROVE THE COMPENSATION FOR THE PRESIDENT, WHO IS THEN PRESENTEDWITH A WRITTEN EMPLOYMENT CONTRACT ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5LAS PALMAS FOUNDATION MAKES FORM 1123, FORM 990, GOVERNING DOCUMENTS, CONFLICT OFINTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d: Other Program Services Description
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$25.9$0.00$25.9$7.00$1.47$5.53
2023Detailed filing. Detailed filing data is available for this year.$20.4$0.00$20.4$12.4$1.37$11.0
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.86$0.02$6.84$1.97$1.21$0.76
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.08$0.00$6.08$2.03$1.11$0.92
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.17$0.00$5.17$1.36$1.10$0.26
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.91$0.00$4.91$1.12$1.08$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.86$0.00$4.86$0.91$0.96$0.05
2017Detailed filing. Detailed filing data is available for this year.$4.91$0.00$4.91$0.83$0.89$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.97$0.00$4.97$0.82$0.87$0.05
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.45$0.00$5.45$1.22$1.29$0.07
2014Detailed filing. Detailed filing data is available for this year.$5.52$0.00$5.52$1.10$1.00$0.10
2013Detailed filing. Detailed filing data is available for this year.$5.42$0.00$5.42$3.24$1.11$2.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$0.00$2.48$0.94