Lafh Phase Ii Qalicb Inc
- Assets
- $16.3m
- Revenue
- $348.3k
- Investments
- $0.0
- Employees
- 0
- Location
- North Hollywood, CA
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 81-1830036
Organization Overview
Lafh Phase Ii Qalicb Inc is located in North Hollywood, CA. The organization was established in 2016. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lafh Phase Ii Qalicb 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 12/2022, Lafh Phase Ii Qalicb Inc generated $348.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $1.8m during the year ending 12/2022. 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
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAFH PHASE II QALICB, INC. WAS FORMED ON FEBRUARY 12, 2016 TO PERFORM THE CHARITABLE FUNCTIONS OF AND CARRY OUT THE CHARITABLE PURPOSES OF L.A. FAMILY HOUSING CORPORATION (LAFH). THE ORGANIZATION IS A SUPPORTING ORGANIZATION CONTROLLED BY LAFH AS SPECIFIED IN SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE (CODE). THE ORGANIZATION WAS FORMED TO PURCHASE FROM LAFH CERTAIN REAL PROPERTY LOCATED AT 7843 LANKERSHIM BOULEVARD IN NORTH HOLLYWOOD, CALIFORNIA (PROPERTY) FOR DEVELOPMENT OF A COMPREHENSIVE INTAKE AND ASSESSMENT CENTER FOR HOMELESS INDIVIDUALS AND ADMINISTRATIVE OFFICE SPACE TO BE USED AS THE HEADQUARTERS OF LAFH. ON APRIL 11, 2016, THE ORGANIZATION ENTERED INTO A MEMORANDUM OF UNDERSTANDING (MOU) WITH NORTHEAST VALLEY HEALTH CORPORATION (NEVHC), A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, TO CONSTRUCT A 5,288 SQUARE FOOT CLINIC ON THE GROUND FLOOR OF THE PROPERTY (THE CLINIC) TO BE LEASED TO NEVHC UPON COMPLETION OF THE CLINIC. IN ADDITION, THE ORGANIZATION ALSO CONSTRUCTED A SUBTERRANEAN PARKING STRUCTURE WHICH IS USED BY BOTH THE ORGANIZATION AND AN ENTITY AFFILIATED WITH THE CORPORATION THROUGH COMMON OWNERSHIP. THE ORGANIZATION OWNS 53.56% OF THE PARKING STRUCTURE, AND MAINTENANCE AND OPERATING COSTS RELATED TO THE PARKING STRUCTURE ARE SHARED WITH THE AFFILIATED ENTITY PURSUANT TO THE RECIPROCAL EASEMENT AGREEMENT. THE PARKING STRUCTURE WAS PLACED IN SERVICE IN OCTOBER 2018. THE OFFICE WAS PLACED IN SERVICE IN JULY 2019 AND THE CLINIC IN DECEMBER 2019.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregg Sherkin Director | Trustee | 2.5 | $0 |
Debbie Burkart Director | Trustee | 2.5 | $0 |
Stephanie Klasky-Gamer Chairman | OfficerTrustee | 2.5 | $0 |
Toi Chisom Secretary | OfficerTrustee | 2.5 | $0 |
Yasmin Tong Treasurer | OfficerTrustee | 0.5 | $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 | $347,890 |
| Investment income | $415 |
| 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 | $348,305 |
| 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 | $12,700 |
| 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 | $169,830 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $416,947 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,750,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $96,196 |
| Net Land, buildings, and equipment | $16,135,127 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $107,246 |
| Total assets | $16,338,668 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $14,806 |
| 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 | $17,501,298 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,806 |
| Total liabilities | $17,530,910 |
| Net assets without donor restrictions | -$1,192,242 |
| 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 | $16,338,668 |