Restore Neighborhoods La Inc
- Assets
- $6.4m
- Revenue
- $170.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Los Angeles, CA
- Founding
- 04/2010
- Data as of
- 06/2021
- 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 06/2021, Restore Neighborhoods LA Inc employed 3 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 06/2021, Restore Neighborhoods LA Inc generated $170.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (28.6%) each year. All expenses for the organization totaled $558.1k during the year ending 06/2021. 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
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 |
|---|---|---|---|
John Perfitt Executive Director | Officer | 25 | $170,792 |
Alexander K Robinson Secretary | OfficerTrustee | 1 | $0 |
Mott Smith Treasurer | OfficerTrustee | 1 | $0 |
Dan Falcon Board Chair | Trustee | 1 | $0 |
Margie Francia Board Director | Trustee | 1 | $0 |
Paul Freese Board Director | Trustee | 1 | $0 |
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 | $55,141 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $92,641 |
| Total Program Service Revenue | $17,236 |
| Investment income | $1,955 |
| 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 | $169,952 |
| 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. | $150,255 |
| Compensation of current officers, directors, key employees. | $12,020 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $181,750 |
| Pension plan accruals and contributions | $3,352 |
| Other employee benefits | $19,496 |
| Payroll taxes | $14,789 |
| Fees for services: Management | $25,454 |
| Fees for services: Legal | $3,000 |
| Fees for services: Accounting | $52,641 |
| 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 | $9,315 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,900 |
| Travel | $93 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $194 |
| Insurance | $4,461 |
| All other expenses | $0 |
| Total functional expenses | $558,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,755 |
| Savings and temporary cash investments | $390,962 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,176 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,562,573 |
| Inventories for sale or use | $3,948,149 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,602 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $31,997 |
| Intangible assets | $0 |
| Other assets | $168,902 |
| Total assets | $6,363,116 |
| Accounts payable and accrued expenses | $129,079 |
| 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 | $3,751,217 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,948,809 |
| Total liabilities | $6,829,105 |
| Net assets without donor restrictions | -$465,989 |
| 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 | $6,363,116 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Restore Neighborhoods La Inc has recieved totaling $313,750.
| Awarding Organization | Amount |
|---|---|
Snap Foundation Santa Monica, CA PURPOSE: OFFTOP & UNEARTHING THE BLACK AESTHETIC - TO PROCEED WITH DEVELOPING THE UNEARTHING THE BLACK AESTHETIC, A PHYSICAL SPACE IN WATTS THAT CELEBRATES BLACK ART, CULTURE, EDUCATIONAL EXPERIENCES, AND AN ARTIST RESIDENCY PROGRAM THAT WILL SUPPORT YOUNG CREATIVES | $250,000 |
Genesis La Economic Growth Corporation Los Angeles, CA PURPOSE: PANDEMIC RELIEF | $63,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elwyn California San Jose, CA | $38,347,314 | $73,477,787 |
City Of Scottsdale Municipal Property Corp Scottsdale, AZ | $479,997,584 | $48,828,086 |
Habitat For Humanity International Inc Oakland, CA | $41,053,789 | $44,589,163 |
National Community Renaissance Of California Rancho Cucamonga, CA | $192,617,949 | $51,023,842 |
Bridge Housing Corporation San Francisco, CA | $222,728,888 | $38,426,338 |
Baywood Apartments Inc Hayward, CA | $6,801,146 | $110,627 |
Eden Development Inc Hayward, CA | $30,040,019 | $4,613,123 |
Habitat For Humanity International Inc Bellflower, CA | $37,732,130 | $31,053,929 |
Reach Community Development Inc Portland, OR | $100,210,196 | $29,644,026 |
Millennium Housing Corporation Costa Mesa, CA | $189,019,442 | $31,052,319 |
Chinatown Community Development Center Inc San Francisco, CA | $109,257,292 | $38,436,421 |
Self Help Enterprises Visalia, CA | $105,976,522 | $29,798,676 |