Civic Intelligence

Puente Learning Center

990 • Fiscal year 2022 • EIN 95-4242175

Jul 01, 2021 to Jun 30, 2022 • Filed on May 10, 2023

Refreshing map…

501 South Boyle AvenueLos Angeles, CA 90033

(323) 780-8900

Siviq Scores

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

Liabilities / Assets

15th percentile

0.02x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

22nd percentile

0.09x

Higher debt load relative to revenue than 22% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

19th percentile

-6.8%

Higher net margin than 19% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

28th percentile

$174,473

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

34th percentile

-4.3%

Faster asset growth than 34% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

77th percentile

25%

Faster revenue growth than 77% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Flat

$28,285,381

Flat from 2022

Net Assets

Flat

$27,775,534

Flat from 2022

Liabilities

Flat

$509,847

Flat from 2022

Revenue

Flat

$5,700,314

Flat from 2022

Expenses

Flat

$6,085,554

Flat from 2022

Net Income

Flat

-$385,240

Flat from 2022

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $27,370,026Liabilities 2011: $143,858Net Assets 2011: $27,226,1682011Assets 2012: $27,114,574Liabilities 2012: $180,814Net Assets 2012: $26,933,7602012Assets 2013: $27,997,644Liabilities 2013: $287,031Net Assets 2013: $27,710,6132013Assets 2014: $27,831,656Liabilities 2014: $453,555Net Assets 2014: $27,378,1012014Assets 2015: $28,367,621Liabilities 2015: $202,139Net Assets 2015: $28,165,4822015Assets 2016: $27,958,859Liabilities 2016: $156,813Net Assets 2016: $27,802,0462016Assets 2017: $26,899,503Liabilities 2017: $217,451Net Assets 2017: $26,682,0522017Assets 2018: $25,942,154Liabilities 2018: $203,823Net Assets 2018: $25,738,3312018Assets 2019: $26,167,841Liabilities 2019: $174,833Net Assets 2019: $25,993,0082019Assets 2020: $24,001,260Liabilities 2020: $683,739Net Assets 2020: $23,317,5212020Assets 2021: $29,565,851Liabilities 2021: $311,105Net Assets 2021: $29,254,7462021Assets 2022: $28,285,381Liabilities 2022: $509,847Net Assets 2022: $27,775,5342022Assets 2022: $28,285,381Liabilities 2022: $509,847Net Assets 2022: $27,775,5342022Assets 2023: $32,319,745Liabilities 2023: $1,471,270Net Assets 2023: $30,848,4752023

Highlighted filing

2022

Assets$28,285,381
Liabilities$509,847
Net Assets$27,775,534

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2011: $3,923,7722011Expenses 2012: $3,974,7482012Expenses 2013: $4,366,8812013Revenue 2014: $2,396,981Expenses 2014: $4,106,329Net Income 2014: -$1,709,3482014Revenue 2015: $4,314,363Expenses 2015: $4,170,355Net Income 2015: $144,0082015Revenue 2016: $3,053,892Expenses 2016: $3,976,020Net Income 2016: -$922,1282016Revenue 2017: $1,880,029Expenses 2017: $4,638,117Net Income 2017: -$2,758,0882017Revenue 2018: $2,334,976Expenses 2018: $4,341,103Net Income 2018: -$2,006,1272018Revenue 2019: $2,906,233Expenses 2019: $4,226,375Net Income 2019: -$1,320,1422019Revenue 2020: $3,342,979Expenses 2020: $4,487,956Net Income 2020: -$1,144,9772020Revenue 2021: $4,552,856Expenses 2021: $4,767,962Net Income 2021: -$215,1062021Revenue 2022: $5,700,314Expenses 2022: $6,085,554Net Income 2022: -$385,2402022Revenue 2022: $5,700,314Expenses 2022: $6,085,554Net Income 2022: -$385,2402022Revenue 2023: $7,251,654Expenses 2023: $8,190,503Net Income 2023: -$938,8492023

Highlighted filing

2022

Revenue$5,700,314
Expenses$6,085,554
Net Income-$385,240
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 10, 2023
Return Version
2021v4.2
Gross Receipts
$5,801,110
Mission and Program Overview

Mission

Puente learning center ("puente") has served as a bridge to opportunity through education for over 30 years. Offering tuition-free, technology-enhanced instruction to over 2,000 adults, youth and children and their families annually. Puente has impacted over 110,000 individuals through offering high-quality academic services since 1985.

We are puente: people united to enrich the neighborhood through education. Building bridges to learning and opportunity in boyle heights and beyond.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$20,261,986$19,172,673▼ $1,089,313
Land, Buildings, and Equipment, Net$6,818,336$6,662,355▼ $155,981
Cash and Non-Interest-Bearing Accounts$809,066$1,012,550▲ $203,484
Pledges and Grants Receivable$747,485$832,853▲ $85,368
Accounts Receivable$821,421$472,787▼ $348,634
Prepaid Expenses and Deferred Charges$35,113$59,594▲ $24,481
Inventories for Sale or Use$13,936$14,061▲ $125
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$29,565,851$28,285,381▼ $1,280,470
Other Assets Total$58,508$58,508→ $0
Liabilities
Accounts Payable and Accrued Expenses$311,105$274,040▼ $37,065
Deferred Revenue$0$235,807▲ $235,807
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$311,105$509,847▲ $198,742
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$16,781,502$16,787,248▲ $5,746
Net Assets With Donor Restrictions$12,473,244$10,988,286▼ $1,484,958
Total Net Assets Fund Balance$29,254,746$27,775,534▼ $1,479,212
Total Liabilities and Net Assets / Fund Balance$29,565,851$28,285,381▼ $1,280,470

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,830,910$7,554,520$10,385,430
Land$2,191,853-$2,191,853
Other Land Buildings$1,283,280$565,476$1,848,756
Equipment$132,403$1,035,746$1,168,149
Leasehold Improvements$223,909$59,492$283,401

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$11,548,473-▼ $352,295$905,319$10,290,859
2020$10,362,146-▲ $2,061,447$875,120$11,548,473
2019$11,813,866-▼ $628,396$823,324$10,362,146
2018$12,040,733-▲ $612,361$839,228$11,813,866
2017$12,454,257-▲ $396,636$807,160$12,043,733
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jerome G GreeningCEO, School PrincipalFT$165,330$9,143$174,473
Angelica CastroV.p. of Finance & AdminFT$120,303$13,518$133,821
Matt WellsVice President of DevelopmentFT$101,979$7,770$109,749
Michele WolfeVice President of ProgramsFT$89,022$4,806$93,828

Board Members and Trustees

NameTitle
Chung WongChairman
Tyler Mp SutherlandVice-chairman
Albert ReyesBoard Member
Greg GonzalezBoard Member
Lara LightbodyBoard Member
Oscar CabralesSecretary
Jocelyn RosenwaldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,597,432
Program Service Revenue
$0
Investment Income
$95,080
Other Revenue
$7,802
All Other Contributions
$1,205,843
Change in Net Assets
$-385,240

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,700,314
Revenue Not Reported on Form 990
$-620,081
Total Revenue per Audited Statements
$5,080,233
Total Revenue per Form 990
$5,700,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,543,788
Other Expenses$2,541,766
Total Fundraising Expense$171,459
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,297,609$27,283$53,893$2,378,785
Fees for Services Other$1,237,722$51,827$35,579$1,325,128
Current Officers, Directors, Trustees, and Key Employees$538,258$6,392$12,625$557,275
Depreciation Depletion$346,418$100,391$34,237$481,046
Other Employee Benefits$369,370$13,781$11,401$394,552
Payroll Taxes$205,392$2,796$4,988$213,176
Insurance$136,662$4,247$3,157$144,066
Occupancy$127,102$10,944$3,299$141,345
Office Expenses$72,638$41,553$2,471$116,662
All Other Expenses$77,960$17,300$4,140$99,400
Travel$35,959$10$377$36,346
Other Expenses$20,143$773$528$21,444
Total Functional Expenses$5,594,816$319,279$171,459$6,085,554

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,559,445
Expenses per Audited Statements$6,085,554
Total Expenses per Form 990$6,085,554
Expenses Not Reported on Form 990$473,891
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$12,398
Fundraising Direct Expenses$10,926
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
La 5k$22,125$10,750$2,874$7,876
Viva Puente$20,498$1,648$2,083$-435
Total Events$42,623$12,398$6,663$5,735
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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

Form 990 Part VI Section B Line 11B

Form 990 review the form 990 is reviewed by management. It is then reviewed and approved by the audit committee. The audit committee then recommends approval to the board and the board accepts the form 990 before being filed with the irs.

Form 990 Part VI Section B Line 12C

Conflict of interest policy board members and certain employees with financial responsibility annually sign an acknowledgement form identifying any conflicts of interest and verifying their understanding of the policy. If a conflict should arise the audit committee will present any resolutions as appropriate. The policy is monitored on an annual basis by the vp of administration.

Form 990 Part VI Section B Line 15A

Annual performance and compensation review the salary of the chief executive officer is determined by consulting a variety of information sources, including a compensation and benefits survey of southern california nonprofit organizations, local nonprofits providing similar services, and an executive recruiting firm that specializes in placements of nonprofit executives. The board of directors approves the compensation of the ceo independently, without the participation of interested persons.

Form 990 Part VI Section B Line 15B

Annual performance and compensation review the compensation for other officers is determined by chief executive officer. The ceo reviews the center for nonprofit managements' compensation & benefits survey for southern and central california nonprofit organizations and uses this data to determine market-rate salaries for comparable positions within puente. This information is reviewed annually using the survey data, in combination with the following: a) each persons scope of responsibility, work performance, longevity, work experience, level of education, other credentials. B) if applicable, parity of salary range as compared to internal peers doing work of similar significance to the organization, annual compensation is determined.

Form 990 Part VI Section C Line 19

Public disclosure some or all of these items may be available upon request.

Filing and Contact Details

Filer

Filer Name
Puente Learning Center
EIN
95-4242175
In Care Of
% ANGELICA CASTRO
Phone
3237808900
Address
501 SOUTH BOYLE AVENUE, LOS ANGELES, CA 90033

Signing Officer

Name
Angelica Castro
Title
VP of Finance & Admi
Phone
3237808900
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerome Greening
Formed
1985
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
71
Volunteers
0

Preparer

Firm
Maginnis Knechtel & McIntyre LLP
Address
300 W Colorado Blvd, Pasadena, CA 91105
Preparer
Linda E G Ballesteros
Phone
6264493466
Supplemental Narrative

Additional Explanations

Form 990 Part I Line 1

Description of organization mission puente learning center is recognized for its commitment to its mission, embodied in its name: people united to enrich the neighborhood through education. As an established nonprofit presence in the underserved boyle heights community since 1985, puente has empowered over 120,000 students of all ages with tuition-free resources in four program areas: children, youth, adults, and community. Puente's record of accomplishment with research-based educational outcomes and compassionate wrap-around services matches the vibrant and culturally-rich community we serve.

Form 990 Part XI Line 7

Donated services donated services received: $462,965 donated services expensed: $462,965

Form 990 Part IX Line 11G

Description:professional services total fees:1325128

Financial Statement Notes

Schedule D Part V Line 4

Endowment funds the primary long-term financial objective for the center's endowments is to preserve the real (inflation-adjusted) purchasing power of endowment assets and income after accounting for endowment spending, inflation and costs of protfolio management. Performance of the overall endowment against this objective is measured over an investment horizon of five to seven years. The endowments are also managed to optimize the long run total rate of return on invested assets, assuming a prudent level of risk. The goal for this rate of return is one that funds the center's existing spending policy and allows sufficient reinvestment to grow the endowment principal at a rate that exceeds inflation (as measured by the consumer price index). Over the short term, the return for each element of the endowment portfolio should match or exceed each of the returns for the broader capital markets in which assets are invested. The center has adopted a spending policy and has met or exceeded such policy for the year.

Schedule D Part X Line 2

INCOME TAXES Generally accepted accounting principles requires the Center to recognize and record the financial impact of uncertainty in income taxes and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. It requires that an organization recognize in the financial statements the impact of the tax position if that position will more likely than not be sustained on audit, based on the technical merits of the position. It also provides guidance on derecognition, classification, interest and penalties on income taxes, accounting in interim periods and requires additional disclosures. At June 30, 2022 and 2021, the Center did not recognize any uncertain tax position. The Center's federal and state income tax returns for 2017 and subsequent years are subject to examination by the regulatory agencies, generally for three years and four years after they were filed for federal and state, respectively. No open tax years are currently under examination.

Schedule D Part XI Line 2D

Other adjustments cost of fundraising event $10,926 total to schedule d part xi line 2d $10,926

Schedule D Part XII Line 2D

Other adjustments cost of fundraising event $10,926 total to schedule d part xii line 2d $10,926

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IRS990/Desc0EARLY CHILDHOOD - PRESCHOOL READINESS PROVIDES AN INTELLECTUALLY STIMULATING ENVIRONMENT FOR CHILDREN AGED THREE YEARS, NINE MONTHS TO FIVE YEARS OLD AND PREPARES STUDENTS FOR THE SUCCESSFUL TRANSITION INTO KINDERGARTEN. PUENTE CHARTER SCHOOL, AN LAUSD AUTHORIZED CHARTER SCHOOL SERVING ELEMENTARY-AGED STUDENTS AND THEIR FAMILEIS, CONSISTENTLY RECEIVES HIGH SATISFACTION RATINGS FROM ITS PARENT COMMUNITY AND FROM THE LOS ANGELES UNIFIED SCHOOL DISTRICT. THE AFTER SCHOOL PROGRAM PROVIDES INDIVIDUALIZED INSTRUCTION AND ENRICHMENT ACTIVITIES TO REINFORCE STUDENT MASTERY OF COMMON CORE STANDARDS AND STRENGTHEN ENGAGEMENT FOR STUDENT LEARNING. PRE-SCHOOL READINESS - 42 SERVED & 84 FAMILY MEMBERS; CHARTER SCHOOL - 225 STUDENTS SERVED & 300 FAMILY MEMBERS; AFTER SCHOOL ENRICHMENT - 84 STUDENTS SERVED.
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IRS990/MissionDesc0PUENTE Learning Center is recognized for its commitment to its mission, embodied in its name: People United to Enrich the Neighborhood Through Education. As an established nonprofit presence in the underserved Boyle Heights community since 1985, PUENTE has empowered over 120,000 students of all ages with tuition-free resources in four program areas: children, youth, adults, and community. PUENTE's record of accomplishment with research-based educational outcomes and compassionate wrap-around services matches the vibrant and culturally-rich community we serve.
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IRS990/ProgSrvcAccomActy2Grp/Desc0ADULT PROGRAMS - ENGLISH-LANGUAGE LITERACY & CITIZENSHIP CLASSES, THROUGH A COMBINATION OF CLASSROOM INSTRUCTION AND TECHNOLOGY-ENHANCED CURRICULUM, STUDENTS ATTAIN AQUISTION OF THE ENGLISH LANGUAGE & CITIZENSHIP STATUS. THE ADULT HIGH SCHOOL DIPLOMA PROGRAM AND THE HISET TEST PREPARATION PROGRAM SUPPORT ACHIEVEMENT FOR INDIVIDUALS WHO ARE NO LONGER WITHIN THE TRADITIONAL SCHOOL SYSTEM TO ATTAIN A HIGH SCHOOL DIPLOMA BY COMPLETING THE A-G REQUIRED COURSES. THE PUENTE DIGITAL INITIATIVE CLASSES PREPARE STUDENTS FOR THE WORKFORCE THROUGH COMPUTER CAREER TRAINING, INCLUDING GOOGLE SUITE, MICROSOFT OFFICE, AND A+ COMPUTER CERTIFICATION OFFERING. COMMUNTY ENGAGEMENT - SEMINARS AND WORKSHOPS PROVIDE ADDITIONAL SUPPORT BY PROVIDING DIRECT ACCESS TO FINANCIAL, LEGAL & HEALTH INFORMATION AND RESOURCES FOR THE PUENTE STUDENT AND FAMILY COMMUNITY AND THE COMMUNITY AT-LARGE. YOUTH PROGRAMS - A COLLEGE AND CAREER PROGRAM, WITH CURRICULUM AND ADDITIONAL ENGAGEMENT SUPPORTS, DESIGNED FOR HIGH SCHOOL STUDENTS INTERESTED IN A CAREER IN THE SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS FIELDS. SAT PREPARATION EXPANDS LOW-INCOME HIGH SCHOOL STUDENTS' OPPORTUNITIES FOR POST-SECONDARY EDUCATION THROUGH COMPREHENSIVE SAT PREP CLASSES AND COLLEGE TRANSITION WORKSHOPS. APPROXIMATELY 85% OF COLLEGE AND CAREER PROGRAM PARTICIPANTS ARE THE FIRST IN THEIR FAMILY TO GO TO COLLEGE. THE PUENTE SUMMER PROGRAM ENABLES ELEMENTARY-AGED STUDENTS TO CONTINUE THE MOMENTUM ACHIEVED DURING THE ACADEMIC YEAR AND TAKE CLASSES THAT ARE ENGAGING, ENRICHING, AND INCREASE SKILLS IN AREAS THAT MAY BE A CHALLENGE. SUMMER PROGRAM - 327 CHILDREN AND ADULTS SERVED. ENGLISH AS A SECOND LANGUGE - 678 STUDENTS SERVED; HIGH SCHOOL DIPLOMA - 262 STUDENTS SERVED; CAREER SKILLS - 145 STUDENTS SERVED; COMMUNITY ENGAGEMENT - 2110 INDIVIDUALS SERVED; YOUTH PROGRAMS - 21 STUDENTS SERVED.
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0792671

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$32.3$1.47$30.8$7.25$8.19$0.94
2022Detailed filing. Detailed filing data is available for this year.$28.3$0.51$27.8$5.70$6.09$0.39
2022Summary only. Only limited summary data is available for this year.$28.3$0.51$27.8$5.70$6.09$0.39
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.6$0.31$29.3$4.55$4.77$0.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.0$0.68$23.3$3.34$4.49$1.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.2$0.17$26.0$2.91$4.23$1.32
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.9$0.20$25.7$2.33$4.34$2.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.9$0.22$26.7$1.88$4.64$2.76
2016Detailed filing. Detailed filing data is available for this year.$28.0$0.16$27.8$3.05$3.98$0.92
2015Detailed filing. Detailed filing data is available for this year.$28.4$0.20$28.2$4.31$4.17$0.14
2014Detailed filing. Detailed filing data is available for this year.$27.8$0.45$27.4$2.40$4.11$1.71
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.0$0.29$27.7$4.37
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.1$0.18$26.9$3.97
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.4$0.14$27.2$3.92