Las Palmas Housing And Developement Corporation

Organization Overview

Las Palmas Housing And Developement Corporation is located in Encinitas, CA. The organization was established in 2001. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Las Palmas Housing And Developement Corporation 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 12/2022, Las Palmas Housing And Developement Corporation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.3% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 28.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

LAS PALMAS HOUSING AMP DEVELOPMENT IS A CALIFORNIA NONPROFIT CHARITABLE CORPORATION DEDICATED TO ACQUIRE, DEVLOP, REHABILITATE AND SUPPORT AFFORDABLE HOUSING. THE ORGANIZATION WAS CREATED TO INCREASE AND IMPROVE HOUSING FOR LOW AND MODERATAE INCOME FAMILIES AND INDIVIDUALS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CO-MANAGING GENERAL PARTNER IN ASHLEE APARTMENTS, LP WHICH OWNS AND OPERATES A 112 UNIT AFFORDABLE SENIOR CITIZEN APARTMENT COMPLEX IN SIMI VALLEY, CA. THE ENTIRE COMPLEX CONSISTS OF LOW INCOME RESIDENTS.


CO-MANAGING GENERAL PARTNER IN WASHINGTON VIEW, LP WHICH OWNS AN 112 UNIT AFFORDABLE COMPLEX IN LOS ANGELES, CALIFORNIA.


CO-MANAGING GENERAL PARTNER IN HUNTINGTON BEACH SENIOR HOUSING, LP WHICH OWNS AND OPERATES A 185 UNIT AFFORDABLE SENIOR CITIZEN APARTMENT COMPLEX IN HUNTINGTON BEACH, CALIFORNIA.


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Board, Officers & Key Employees

Name (title)Compensation
Joseph Michaels
President
$0
Sherry Avery
Director
$0
Randy Stevenson
Director
$0
Victor Barone
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $892,963
All other contributions, gifts, grants, and similar amounts not included above$6
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$892,969
Total Program Service Revenue$587,788
Investment income $20,647
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$329
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 $1,501,250

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