Restore Neighborhoods La Inc
- Assets
- $7.3m
- Revenue
- $890.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Los Angeles, CA
- Founding
- 04/2010
- Data as of
- 06/2022
- EIN
- 26-4142930
Organization Overview
Restore Neighborhoods La Inc is located in Los Angeles, CA. The organization was established in 2010. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Restore Neighborhoods LA Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Restore Neighborhoods LA Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Restore Neighborhoods LA Inc generated $890.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $952.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STABILIZE NEIGHBORHOODS BY PLACING FORECLOSED AND VACANT DWELLING UNITS BACK IN USE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Falcon Board Chair | Trustee | 1 | $0 |
Paul Freese Board Director | Trustee | 1 | $0 |
Margie Francia Board Secretary | Trustee | 1 | $0 |
Mott Smith Treasurer | OfficerTrustee | 1 | $0 |
John Perfitt Executive Director | Officer | 25 | $189,200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Red Star Construction Construction | 6/29/18 | $336,006 |
John Perfitt Management Consulting | 6/29/18 | $127,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $287,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $287,500 |
| Total Program Service Revenue | $499,112 |
| Investment income | $41 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $890,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $187,800 |
| Compensation of current officers, directors, key employees. | $15,025 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,118 |
| Pension plan accruals and contributions | $2,177 |
| Other employee benefits | $14,761 |
| Payroll taxes | $6,461 |
| Fees for services: Management | $73,348 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $59,723 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,396 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,830 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $387 |
| Insurance | $10,231 |
| All other expenses | $1,738 |
| Total functional expenses | $952,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $425,647 |
| Savings and temporary cash investments | $7,505 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,600,323 |
| Inventories for sale or use | $4,908,073 |
| Prepaid expenses and deferred charges | $2,925 |
| Net Land, buildings, and equipment | $1,215 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $41,777 |
| Intangible assets | $0 |
| Other assets | $272,329 |
| Total assets | $7,259,794 |
| Accounts payable and accrued expenses | $205,920 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,056,457 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,497,714 |
| Total liabilities | $7,760,091 |
| Net assets without donor restrictions | -$500,297 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,259,794 |