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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Takao Suzuki Chairman | OfficerTrustee | 0.15 | $0 |
Tafarai Bayne Secretary | OfficerTrustee | 0.15 | $0 |
Nancy Halpern Ibrahim President | Officer | 0.15 | $0 |
Mark Billy Director | Trustee | 0.15 | $0 |
Jorge Nuno Director | Trustee | 0.15 | $0 |
Nesanet Abegaze Director | Trustee | 0.15 | $0 |
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 |
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---|---|---|
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Mercado La Paloma Inc Los Angeles, CA | $6,878,012 | $613,882 |
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