Palm House Inc

“The Medical Director is related to the Executive Director.”

“During the tax year, the organization transferred ownership of a real property asset back to its rightful legal owner. As a result, the asset, valued at $698,667, was removed from the organization's books, and a loss on disposal of $19,985.77 was recognized and reported in Part IX, line 24 ("Other Expenses"). The asset has been excluded from Schedule D, Part VI, and this adjustment has been reflected in Part X, line 10c of the balance sheet. Additionally, this correction has been considered in the reconciliation of net assets in Part XI. It is important to note that this transaction represents a correction of ownership and does not involve a sale or donation.”

“The By-Laws of the organization provide the founder with the opportunity to appoint individuals to fill any vacant position in the governing body.”

“The organization is a small nonprofit agency with a streamlined governance model. During the year, no formal committees were established with delegated authority to act independently on behalf of the governing body. All decisions requiring such authority were made directly by the full board of directors. Therefore, all actions were taken and documented by the governing body itself.”

“The BOD Chairman organized a special meeting to address this matter, during which the Executive Director shared the preliminary report for the BOD's consideration and feedback.”

“Yes, this is one of the guidelines set by LA County that provides funding for this program.”

“The agency encourages transparency; its financial records can be accessed by the public upon written request.”

“During the tax year, the organization identified a property that had been incorrectly recorded as an asset in prior years. Upon review, it was determined that the organization did not hold legal ownership of the property. The asset was removed from the balance sheet, resulting in a reduction of net assets totaling $274,877. This adjustment is reflected in Part XI, line 9 ("Other changes in net assets or fund balances") and reconciles the difference between Part XI, line 10 and Part X, line 32, column B.”