Los Alamitos Public Facilities Corp
- Assets
- $3.2m
- Revenue
- $133.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Alamitos, CA
- Founding
- Data as of
- 06/2022
- EIN
- 32-0172799
Organization Overview
Los Alamitos Public Facilities Corp is located in Los Alamitos, CA. Los Alamitos Public Facilities Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2022, Los Alamitos Public Facilities Corp generated $133.5k 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 (38.3%) each year. All expenses for the organization totaled $130.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (37.0%) 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
LOS ALAMITOS PUBLIC FACILITIES CORPORATION WAS SET UP TO ASSIST THE CITY OF LOS ALAMITOS (A CHARTER CITY) IN FINANCING THE ACQUISITION, CONSTRUCTION AND IMPROVEMENT FOR PUBLIC BENEFIT WITHIN THE CITY LIMITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PUBLIC FACILITIES CORPORATION (A BLENDED COMPONENT UNIT OF THE CITY OF LOS ALAMITOS) WAS FORMED 02/06/2006 PURSUANT TO THE NON-PROFIT CORPORATION LAWS OF THE STATE OF CALIFORNIA. ITS PURPOSE IS TO ASSIST THE CITY IN FINANCING THE ACQUISITION, CONSTRUCTION AND IMPROVEMENT FOR PUBLIC BENEFIT WITHIN THE CITY LIMITS.A SERIES 2006 CERTIFICATE OF PARTICIPATION LOAN OF $3,365,000 WAS REFINANCED IN SEPTEMBER 2015. THE NEW 2015 CERTIFICATE OF PARTICIPATION LOAN OF $3,685,000 WAS FINANCED THROUGH THE PUBLIC FACILITIES CORPORATION AND IS BEING REPAID ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tanya Doby Mayor Pro Tem | Trustee | 0.1 | $0 |
Shelley Hasselbrink Dir, Mayor | Trustee | 0.1 | $0 |
Mark A Chirco Dir, Cncl Member | Trustee | 0.1 | $0 |
Ron Bates Dir, Cncl Member | Trustee | 0.1 | $0 |
Jordan Nefulda Dir, Cncl Member | Trustee | 0.1 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $133,500 |
| 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 | $133,500 |
| 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 | $1,325 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $129,169 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $130,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,255 |
| Savings and temporary cash investments | $0 |
| 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 | $3,245,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,248,255 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $3,245,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,245,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $3,255 |
| 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 | $3,248,255 |
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