Flexible Psh Solutions Inc
- Assets
- $40.5m
- Revenue
- $289.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Los Angeles, CA
- Founding
- 03/2019
- Data as of
- 12/2022
- EIN
- 82-4332625
Organization Overview
Flexible Psh Solutions Inc is located in Los Angeles, CA. The organization was established in 2019. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Flexible Psh Solutions Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flexible Psh Solutions 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, Flexible Psh Solutions Inc generated $289.3k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 35.5% each year . All expenses for the organization totaled $354.7k during the year ending 12/2022. While expenses have increased by 42.6% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FLEXIBLE PSH SOLUTIONS, INC. DEVELOPS AND OPERATES PERMANENT SUPPORTIVE HOUSING (PSH) BY OFFERING A CREATIVE APPROACH TO INCREASING THE VOLUME OF PSH THAT SERVES THE CHRONICALLY HOMELESS IN CALIFORNIA AND PROVIDES SUPPORTIVE SERVICES TO HELP KEEP ITS TENANTS LIVING IN HOMES AND NOT IN THE STREETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLEXIBLE PSH SOLUTIONS ADVANCED THE DEVELOPMENT OF ITS ENLIGHTENMENT PLAZA AFFORDABLE HOUSING PROJECT IN 2022, CLOSING ON CONSTRUCTION FINANCING AND BREAKING GROUND ON CONSTRUCTION DEVELOPMENT FOR THE FIRST THREE OF ITS FIVE PHASES OF THE PROJECT IN SUPPORT OF MORE THAN 150 UNITS OF THE TOTAL 387 PLANNED UNITS FOR THE PROJECT. IN ADDITION, F-PSH SECURED FUNDING COMMITMENTS IN SUPPORT OF ITS NEXT PROJECT PHASE, LOCKE LOFTS, A PROJECT PHASE THAT WILL BUILD AN ADDITIONAL 150 AFFORDABLE PERMANENT SUPPORTIVE HOUSING UNITS WITHIN THE ENLIGHTENMENT PLAZA CAMPUS. CONSTRUCTION COMPLETION ON THE FIRST THREE PHASES, CONSISTING OF THE ROUSSEAU, MONTESQUIEU, AND VOLTAIRE PROJECTS IS EXPECTED IN THE 4TH QUARTER OF 2024 AND THE 1ST AND 2ND QUARTER OF 2025. THE FUNDING PREPARATION WORK AND COMMITMENTS RECEIVED FOR LOCKE LOFTS THAT F-PSH ACCOMPLISHED IN 2022 IS ANTICIPATED TO LEAD TO CONSTRUCTION FINANCING CLOSING DURING 2023, WITH GROUND-BREAKING OCCURING BY THE 4TH QTR OF 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Mcclendon Associate | Officer | 40 | $103,720 |
John E Molloy CEO | OfficerTrustee | 40 | $27,000 |
Beth Lucas Chief Operating Officer | OfficerTrustee | 20 | $47,000 |
Stephen L Hicks CFO | OfficerTrustee | 40 | $4,500 |
Bernarda Duarte Director | Trustee | 2 | $0 |
Paul Fox Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $25,000 |
| 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 | $25,000 |
| Total Program Service Revenue | $250,000 |
| Investment income | $0 |
| 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 | $289,297 |
| 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 | $6,512 |
| Compensation of current officers, directors, key employees. | $258,282 |
| 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 | $11,623 |
| 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 | $11,849 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,203 |
| All other expenses | $0 |
| Total functional expenses | $354,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,067 |
| Loans from Officers, Directors, or Controlling Persons | $10,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| 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 | $40,469,095 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,488,199 |
| Accounts payable and accrued expenses | $0 |
| 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 | $54,409 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $40,469,095 |
| Other liabilities | $0 |
| Total liabilities | $40,523,504 |
| Net assets without donor restrictions | -$35,305 |
| 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 | $40,488,199 |