Civic Intelligence

White Flag Foundation

990 • Fiscal year 2022 • EIN 85-4226073

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 18, 2023

220 S Kenwood St Ste 101Glendale, CA 91205

(323) 394-8000

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2022

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

34th percentile

-7.6%

Faster asset growth than 34% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$356,485

Down $29,115 (-7.6%) from 2021

Net Assets

Down

$356,485

Down $29,115 (-7.6%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue

Down

$0

Down $390,600 (-100%) from 2021

Expenses

Up

$29,115

Up $24,115 (+482%) from 2021

Net Income

Down

-$29,115

Down $414,715 (-108%) from 2021

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2021: $385,600Liabilities 2021: $0Net Assets 2021: $385,6002021Assets 2022: $356,485Liabilities 2022: $0Net Assets 2022: $356,4852022

Highlighted filing

2022

Assets$356,485
Liabilities$0
Net Assets$356,485

Operations Trend

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

$400K$200K$0-$200KRevenue 2021: $390,600Expenses 2021: $5,000Net Income 2021: $385,6002021Revenue 2022: $0Expenses 2022: $29,115Net Income 2022: -$29,1152022

Highlighted filing

2022

Revenue$0
Expenses$29,115
Net Income-$29,115
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 18, 2023
Return Version
2022v5.0
Gross Receipts
$0
Mission and Program Overview

Mission

Mission is to provide afordable group housing for elderly individuals at the lowest feasable cost to improve the quality of life for seniors with in the greater los angeles county

Presently white flag foundation is in the rear estate investments

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$385,600$356,485▼ $29,115
Rtn Earn Endowment Incm Other Fnds$385,600$356,485▼ $29,115
Total Assets$385,600$356,485▼ $29,115
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$385,600$356,485▼ $29,115
Total Liabilities and Net Assets / Fund Balance$385,600$356,485▼ $29,115
Compensation and Service Providers

Board Members and Trustees

NameTitle
Eliza ChobanyanDirector
Gayane PetrosyanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-29,115
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,115
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
Travel---$7,203
Office Expenses---$6,612
Fees for Services Accounting---$1,000
Other Expenses---$800
Total Functional Expenses$0$0$0$29,115
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 12C

Any director, principle officer, or member of committee with governing board delegated powers, who has a direct or indirect interest is an iterested person. In connection with any actual or possible conflict of interest, an interested person must desclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors amd members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leav the governing board or committee while the determination of conflit of interest is discussed and voted upon. The remaining board or committee members shall decide if conflict of interest exist. An interested person may make a presentation at the govering board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or management involving the possible conflict of interest. The chairperson of the govering board or committee shal, if appropriete, appoint a disinterested person or committee to investigate alternatives to proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the Organization can obtain with reasonable efforts a more advantagous transaction or arrangement from a person or enity that would not give rise to a conflict of interest. A person who has a financial interest may have a conflict of interest. If the govering board or committee has resonable cause to belive a member has fail to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member and opportunity to explain the alleged failure to disclose. If, after hearing the members response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.

Form 990, Part VI, Section C, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
White Flag Foundation
EIN
85-4226073
Phone
3233948000
Address
220 S KENWOOD ST STE 101, GLENDALE, CA 91205

Signing Officer

Name
Gayane Petrosyan
Title
Secretary
Phone
3233948000
Signed
2023-04-18
Discuss with paid preparer
No

Organization Details

Principal Officer
Gayane Petrosyan
Formed
2020
Legal Domicile
CA
Voting Board Members
2
Independent Board Members
2
Employees
0

Preparer

Firm
Capital Financial Network
Address
10510 VICTORY BLVD STE 202, NORTH HOLLYWOOD, CA 91606
Preparer
Mher Arutunyan
Phone
8184878005
Supplemental Narrative

Additional Explanations

Form 990, Part III, Section 3, Line B

The organization does not have unrelated receipts income

Form 990, Part IV, Section 3, Line 11A

There is no particular process that form 990 is being reviewed by officers, directors, trustees, board of members and management. The completed form 990 will be reviewed by officers and borad of directors before it gets filed to IRS

Raw XML Appendix274 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Any director, principle officer, or member of committee with governing board delegated powers, who has a direct or indirect interest is an iterested person. In connection with any actual or possible conflict of interest, an interested person must desclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors amd members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leav the governing board or committee while the determination of conflit of interest is discussed and voted upon. The remaining board or committee members shall decide if conflict of interest exist. An interested person may make a presentation at the govering board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or management involving the possible conflict of interest. The chairperson of the govering board or committee shal, if appropriete, appoint a disinterested person or committee to investigate alternatives to proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the Organization can obtain with reasonable efforts a more advantagous transaction or arrangement from a person or enity that would not give rise to a conflict of interest. A person who has a financial interest may have a conflict of interest. If the govering board or committee has resonable cause to belive a member has fail to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member and opportunity to explain the alleged failure to disclose. If, after hearing the members response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3There is no particular process that form 990 is being reviewed by officers, directors, trustees, board of members and management. The completed form 990 will be reviewed by officers and borad of directors before it gets filed to IRS
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IV, Section 3, Line 11A
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ReturnHeader/TaxPeriodEndDt02022-12-31
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