Civic Intelligence

Los Angeles Community Capital

EIN 46-0572689 • 501(c)3 • Torrance, CA

Pub. 78 Eligible990-N Coverage

Profile

We promotes Affordable Housing, Community Economic Development Lending, Financial Literacy Training, and Entrepreneurship. We develop financing tools that create access to capital to low-income persons (LIPs) and in low-income communities (LICs) by leveraging private sector investment in LICs at scales sufficient to transform LICs and LIPs. P-Solutions serves some of the most economically distressed communities in California. Some of the large urban counties that P-Solutions serves such as Los Angeles has one of the biggest gap for adequate, affordable, and access to credit.

370 Amapola Ave Ste 200-ATorrance, CA 90501

poverty solutions, inc.

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

7748.00x

Higher debt load relative to revenue than 100% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

37th percentile

0.0%

Higher net margin than 37% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

29th percentile

-1.8%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

12th percentile

-25%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$5,811,000

Down $106,160 (-1.8%) from 2022

Liabilities

Down

$5,811,000

Down $106,160 (-1.8%) from 2022

Net Assets

Flat

$0

Flat from 2022

Operations
Liabilities / Revenue100th percentileNet Margin37th percentile

Revenue

Down

$750

Down $250 (-25%) from 2022

Expenses

Down

$750

Down $150 (-17%) from 2022

Net Income

Down

$0

Down $100 (-100%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth29th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2013: $871Liabilities 2013: $02013Assets 2021: $200Liabilities 2021: $0Net Assets 2021: $2002021Assets 2022: $5,917,160Liabilities 2022: $5,917,160Net Assets 2022: $02022Assets 2023: $5,811,000Liabilities 2023: $5,811,000Net Assets 2023: $02023

Highlighted filing

2023

Assets$5,811,000
Liabilities$5,811,000
Net Assets$0
Open 2023 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$150K$100K$50K$0Revenue 2013: $157,630Expenses 2013: $156,856Net Income 2013: $7742013Revenue 2021: $1,000Expenses 2021: $900Net Income 2021: $1002021Revenue 2022: $1,000Expenses 2022: $900Net Income 2022: $1002022Revenue 2023: $750Expenses 2023: $750Net Income 2023: $02023

Highlighted filing

2023

Revenue$750
Expenses$750
Net Income$0
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,811,000
Liabilities
$5,811,000
Net assets
$0
Revenue
$750
Expenses
$750
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$5.81$5.81$0.00$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$5.92$5.92$0.00$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.16$0.16$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Dec 19, 2024
Return Version
2023v5.1
Gross Receipts
$750
Mission and Program Overview

Mission

We promotes Affordable Housing, Community Economic Development Lending, Financial Literacy Training, and Entrepreneurship. We develop financing tools that create access to capital to low-income persons (LIPs) and in low-income communities (LICs) by leveraging private sector investment in LICs at scales sufficient to transform LICs and LIPs. P-Solutions serves some of the most economically distressed communities in California. Some of the large urban counties that P-Solutions serves such as Los Angeles has one of the biggest gap for adequate, affordable, and access to credit.

Boost Entrepreneurship via startupventure capital lowinterest loan Small Biz and CapitalMarkets mentorship to lowincome persons

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$5,917,160$5,811,000▼ $106,160
Other Notes and Loans Receivable, Net$5,916,860$5,810,000▼ $106,860
Cash and Non-Interest-Bearing Accounts$300$1,000▲ $700
Total Assets$5,917,160$5,811,000▼ $106,160
Liabilities
Total Liabilities$5,917,160$5,811,000▼ $106,160
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$5,917,160$5,811,000▼ $106,160
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Frank I IgwealorDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$750
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$750
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

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

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$750--$750
Total Functional Expenses$750$0$0$750
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Frank IgwealorDirectorPurchase Mortgage from third partyNo$2,200,000

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$5,917,160$5,811,000▼ $106,160
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 11B

“Completed form 990 is sent to all directors to review prior to our meeting”

Part VI Line 12C

“We rely on our conflict of interest policies and procedures to monitor”

Part VI Line 12C

“and mitigate potential conflict of interest”

Part VI Line 15A or B

“N/A”

Part VI Line 19

“Upon Request”

Filing and Contact Details

Filer

Filer Name
Los Angeles Community Capital
EIN
46-0572689
In Care Of
% Frank I Igwealor
Phone
3108951839
Address
370 Amapola Ave Ste 200-A, Torrance, CA 90501

Signing Officer

Name
Frank I Igwealor
Title
Director
Phone
3108951839
Signed
2024-12-19
Discuss with paid preparer
No

Organization Details

Principal Officer
Frank I Igwealor
Formed
2012
Legal Domicile
CA
Voting Board Members
2
Independent Board Members
1
Employees
0
Volunteers
42

Preparer

Firm
Goldstein Franklin
Address
3699 Wilshire Blvd, Suite 610, Los Angeles, CA 90010
Preparer
Frank I Igwealor
Phone
3108951839
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Los Angeles Community Capital
ReturnHeader/Filer/BusinessNameControlTxt0LOSA
ReturnHeader/Filer/EIN0460572689
ReturnHeader/Filer/InCareOfNm0% Frank I Igwealor
ReturnHeader/Filer/PhoneNum03108951839
ReturnHeader/Filer/USAddress/AddressLine1Txt0370 Amapola Ave Ste 200-A
ReturnHeader/Filer/USAddress/CityNm0Torrance
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090501
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460988298
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Goldstein Franklin
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03699 Wilshire Blvd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0Suite 610
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Los Angeles
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090010
ReturnHeader/PreparerPersonGrp/PhoneNum03108951839
ReturnHeader/PreparerPersonGrp/PreparationDt02024-12-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0FRANK I IGWEALOR
ReturnHeader/ReturnTs02024-12-19T21:16:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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