Mercado La Paloma Inc
- Assets
- $6.9m
- Revenue
- $613.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 47-1787000
Organization Overview
Mercado La Paloma Inc is located in Los Angeles, CA. The organization was established in 2015. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mercado LA Paloma 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 12/2021, Mercado LA Paloma Inc generated $613.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BY PROVIDING AFFORDABLE RETAIL OPPORTUNITIES, TECHNICAL ASSISTANCE, START-UP CAPITAL AND SUPPORT, MERCADO LA PALOMA SEEKS TO CREATE BUSINESS OWNERSHIP OPPORTUNITIES AND LIVING WAGE JOBS IN OUR COMMUNITY AND TO OFFER NEEDED GOODS AND SERVICES - SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING AND MAINTAINING A NEIGHBORHOOD MARKETPLACE AND OFFICE BUILDING TO SERVE TENANTS OF SEVEN (7) RESTAURANTS, SIX (6) SHOPS AND NINE (9) OFFICES AS WELL AS A COMMUNITY CONFERENCE ROOM AND DAY TABLE. PROVIDING TENANTS WITH LOW-COST OPPORTUNITIES TO YIELD SERVICES FOR THE LOW-INCOME COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tafarai Bayne Secretary | OfficerTrustee | 0.15 | $0 |
Takao Suzuki Chairman | OfficerTrustee | 0.15 | $0 |
Nancy Halpern Ibrahim President | Officer | 0.15 | $0 |
Nesanet Abegaze Director | Trustee | 0.15 | $0 |
Mark Billy Director | Trustee | 0.15 | $0 |
Jorge Nuno Director | Trustee | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,908 |
| Total Program Service Revenue | $586,948 |
| Investment income | $26 |
| 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 | $613,882 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,288 |
| 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 | $0 |
| Information technology | $467 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $115,964 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $173,910 |
| Insurance | $0 |
| All other expenses | $158,115 |
| Total functional expenses | $1,190,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,149 |
| Savings and temporary cash investments | $143,216 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,441 |
| Net Land, buildings, and equipment | $6,400,573 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $239,633 |
| Other assets | $0 |
| Total assets | $6,878,012 |
| Accounts payable and accrued expenses | $16,319 |
| 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 | $7,962,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $917,474 |
| Total liabilities | $8,895,793 |
| Net assets without donor restrictions | -$2,017,781 |
| 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 | $6,878,012 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alcohol Justice San Rafael, CA | $1,444,255 | $2,007,293 |
Mercado La Paloma Inc Los Angeles, CA | $6,878,012 | $613,882 |
Sandra Day Oconnor Institute Phoenix, AZ | $2,018,643 | $1,483,433 |
Lynx Foundation Novato, CA | $25,094,641 | $88,625 |
California Citrus Quality Council Auburn, CA | $174,846 | $701,118 |
Milk Producers Council Ontario, CA | $352,099 | $565,737 |
Kiwanis Club Of Portland Foundation Portland, OR | $0 | $66,643 |
Carlsbad Airport Centre Owners Association Carlsbad, CA | $175,455 | $363,278 |
Ujf Holdings Corp San Diego, CA | $3,181,098 | $333,062 |
Automotive Service Councils Of California Sacramento, CA | $792,129 | $412,649 |
Spiritual Overseers Service Internaional Corp La Quinta, CA | $150,963 | $360,720 |
Nevada Surplus Lines Foundation Reno, NV | $10,017,031 | $2,652,534 |