2024-05-15T11:25:29-05:00 2023-06-30 221478099 COHNREZNICK LLP 707 WILSHIRE BLVD STE 4950 LOS ANGELES CA 90017 990 2022-07-01 954646848 NHS NEIGHBORHOOD REDEVELOPMENT CORPORATION NHSN 2133812862 3926 WILSHIRE BLVD 200 LOS ANGELES CA 90010 LORI GAY PRESIDENT & CEO 2133812862 2024-05-15 1 LORI GAY 999009999 1 JOLANTA TUCK CPA P01340068 3108439700 2024-05-13 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z LORI GAY 3926 WILSHIRE BLVD 200 LOS ANGELES CA 90010 5046247 0 X WWW.NHSLACOUNTY.ORG X 1996 CA NHS NEIGHBORHOOD REDEVELOPMENT CORPORATION (NRC) MISSION IS TO SERVE AS A CATALYST FOR RESIDENTS, BUSINESS, AND GOVERNMENT REPRESENTATIVES TO WORK TOGETHER TO BUILD STRONGER NEIGHBORHOODS, IMPROVE THE QUALITY OF LIFE FOR LOW TO MODERATE INCOME FAMILIES AND TO REVITALIZE COMMUNITIES INTO NEIGHBORHOODS OF CHOICE. NRC STRENGTHENS COMMUNITIES BY DEVELOPING AND MAINTAIN QUALITY AFFORDABLE HOUSING, CREATING AND PRESERVING AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES, SUPPORTING LOCAL LEADERS, PROVIDING FINANCIAL EDUCATION, AND INCREASING THE FINANCIAL INDEPENDENCE OF FAMILIES AND PEOPLE IN NEED. 6 6 0 6 0 0 1327126 1353723 210250 3599747 -205407 0 135626 57566 1467595 5011036 0 0 0 0 1302589 0 0 0 113698 1856999 6216906 3159588 6216906 -1691993 -1205870 17509503 18460183 6497081 8653631 11012422 9806552 X NHS NEIGHBORHOOD REDEVELOPMENT CORPORATION (NRC) SERVES AS A CATALYST FOR LOCAL RESIDENTS, BUSINESS AND GOVERNMENT REPRESENTATIVES TO WORK TOGETHER TO BUILD STRONGER NEIGHBORHOODS, IMPROVE THE QUALITY OF LIFE FOR FAMILIES OF MODEST MEANS AND TO REVITALIZE COMMUNITIES INTO NEIGHBORHOODS OF CHOICE. NRC STRENGTHENS COMMUNITIES THROUGH THE DEVELOPMENT AND MAINTENANCE OF QUALITY AFFORDABLE HOUSING, CREATION AND PRESERVATION OF AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES AND HOUSING, SUPPORT OF LOCAL LEADERS, PROVIDING FINANCIAL EDUCATION AND HOUSING COUNSELING, AND INCREASING THE FINANCIAL INDEPENDENCE OF FAMILIES AND PEOPLE IN NEED. 0 0 5705469 3599747 NHS NEIGHBORHOOD REDEVELOPMENT CORPORATION (NRC) CONTINUES ITS COMMITMENT TO STRENGTHEN LOW TO MODERATE INCOME COMMUNITIES THROUGH THE DEVELOPMENT OF AFFORDABLE AND SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES. FOR THIS FISCAL YEAR, NRC SERVED 10,068 CLIENTS. COUNSELING AND FINANCIAL LITERACY EDUCATION, ALONG WITH HOMEOWNERSHIP PROMOTION AND PRESERVATION SERVICES WERE PROVIDED TO 2,314 CLIENTS. NRC REINVESTED MORE THAN $45 MILLION AFFORDABLE LOANS AND PROTECTED OVER $1.3 BILLION IN HOME EQUITY THROUGH MORTGAGE RELIEF AND FORECLOSURE PREVENTION EFFORTS. NRC ALSO CONTINUED TO SERVE FAMILIES AND SMALL BUSINESSES THROUGH EXTENSIVE NEIGHBORHOOD REVITALIZATION WORK AND COMMUNITY EVENTS. 5705469 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X JAMES PRICE CONTROLLER 2133812862 3926 WILSHIRE BLVD 200 LOS ANGELES CA 90010 GLORIA TANG SECRETARY/TREASURER 1.00 2.00 X X 0 0 0 RIGOBERTO REYES BOARD MEMBER 1.00 2.00 X 0 0 0 RON TURNER BOARD MEMBER 1.00 2.00 X 0 0 0 SAL MENDOZA CHAIRMAN 1.00 2.00 X X 0 0 0 STEVE HERMAN VICE CHAIRMAN 1.00 2.00 X X 0 0 0 WARREN HARRIS BOARD MEMBER (UNTIL AUGUST 18, 2022) 1.00 2.00 X 0 0 0 ZEEDA DANIELE BOARD MEMBER 1.00 2.00 X 0 0 0 JAMES PRICE CONTROLLER & CFO 14.00 26.00 X 0 122538 19982 LORI GAY PRESIDENT & CEO 14.00 26.00 X 0 244820 29099 JEAN PAUL VEEN VP & COO 18.00 22.00 X 0 163890 18951 KELLIE TODD GRIFFIN SENIOR VP & CAO 14.00 26.00 X 0 128545 4977 KIMBERLEY WOODS AVP & SENIOR PROGRAM DIRECTOR 14.00 26.00 X 0 122736 2719 RHONDA MCMILLAN VP & CCAO 8.00 32.00 X 0 149329 9814 JUANITA JIMENEZ OPERATIONS MANGER 16.00 24.00 X 0 114158 10907 0 1046016 96449 0 0 1 0 VERDUGO CONSTRUCTION 9800 CAYUGA AVENUE ARLENTA MO 91331 CONSTRUCTION SERVICES 260715 1 495242 858481 1353723 PROGRAM COST REIMBURTS 531390 2490553 2490553 INTEREST ON NOTES RECE 531390 587585 587585 CONSTRUCTION MANAGEMEN 531390 425179 425179 LENDING INCOME 531390 70180 70180 REAL ESTATE COMMISSION 531390 26250 26250 3599747 92777 35211 57566 57566 57566 5011036 3599747 0 57566 1705567 1451405 177913 76249 2658 2262 277 119 22001 18722 2295 984 99414 84600 10370 4444 114442 97388 11938 5116 64513 54899 6730 2884 108659 92466 11335 4858 25373 21592 2647 1134 174697 42251 132446 148444 125922 15765 6757 REAL ESTATE DEVELOPMENT 3237777 3237777 PROGRAM EXPENSES 263885 263885 DEPARTMENT OVERHEAD ALL 64214 54645 6698 2871 FUNDRAISING 58724 49973 6126 2625 126538 107682 13199 5657 6216906 5705469 397739 113698 1247604 2066462 39805 9518 371192 3753019 4450468 21476 27670 9807184 1654138 15829426 8153046 17509503 18460183 156240 437322 832 701441 1616881 2839486 2787348 665889 665889 2133193 3146191 6497081 8653631 X -525184 5812021 11537606 3994531 11012422 9806552 17509503 18460183 -1205870 0 X 0 1 X 1 0 X 1253805 1327126 1353723 3934654 210250 3012162 3222412 1253805 1537376 4365885 7157066 0 0 0 7157066 135626 679894 815520 135626 679894 815520 1253805 1673002 5045779 7972586 0.89770 0.95370 0.10230 0.04630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 695885 2267057 1356485 1606457 1 X 5254173 5254173 3987883 1115930 2871953 565128 538208 26920 8153046 INTER FUND PAYABLE 3146191 3146191 X 5046974 727 727 5046247 -35211 -35211 5011036 6252844 727 35211 35938 6216906 0 6216906 PART IV, LINE 2B: THE ORGANIZATION ACTS AS A TRUSTEE TO MANAGE FUNDS RECEIVED FOR ALL CLIENT REHAB PROJECTS. FUNDING SOURCES MAYBE PRIVATE FUNDS, GOVERNMENT, AND OTHER LOANS. THE ORGANIZATION RECORDS THE TOTAL FUNDS HELP AS A RESTRICTED CASH WITH AN OFFSETTING LIABILITY AS STATED ON THE BALANCE SHEET. PART X, LINE 2: THE ORGANIZATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS WELL AS SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. ON AN ANNUAL BASIS, THE ORGANIZATION ANALYZES THE AMOUNT OF UNRELATED BUSINESS TAXABLE INCOME FROM THEIR VARIOUS PROJECTS AND ROVIDE FOR TAXES ON SUCH INCOME, IF ANY, UNDER SECTION 511 OF THE INTERNAL REVENUE CODE AND SECTION 23731 OF THE CALIFORNIA REVENUE AND TAXATION CODE. DURING THE YEAR ENDED JUNE 30, 2023, THE ORGANIZATION HAD NO SIGNIFICANT ACTIVITIES SUBJECT TO THESE TAXES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2023. THE FEDERAL INFORMATIONAL TAX RETURNS OF THE ORGANIZATION FOR TAX YEARS ENDED JUNE 30, 2020, AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE RETURNS FOR CALIFORNIA, THE ONLY STATE TAX JURISDICTION, REMAIN SUBJECT TO EXAMINATION BY THE CALIFORNIA FRANCHISE TAX BOARD FOR TAX YEARS ENDED JUNE 30, 2020, AND SUBSEQUENT. THE ORGANIZATION CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 0 0 0 0 0 0 0 0 0 LORI GAY PRESIDENT & CEO 0 244820 0 0 0 0 0 10065 0 19034 0 273919 0 0 JEAN PAUL VEEN VP & COO 0 157890 0 6000 0 0 0 6704 0 12247 0 182841 0 0 RHONDA MCMILLAN VP & CCAO 0 142329 0 7000 0 0 0 6108 0 3706 0 159143 0 0 PART I, LINE 3 COMPENSATION IS DETERMINED BY THE PARENT ENTITY, NHS, THROUGH THE USE OF INFORMATION FROM COMPARABLE ORGANIZATIONS, AND APPROVAL BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B NHS NEIGHBORHOOD REDEVELOPMENT CORPORATION'S OUTSIDE CPA FIRM AND THE CONTROLLER/CFO PREPARE THE FORM 990. THE FORM IS REVIEWED AND APPROVED BY THE ORGANIZATION'S PRESIDENT AND CEO. THE COMPLETE FORM 990 IS THEN PROVIDED TO AND REVIEWED WITH THE ENTIRE GOVERNING BODY PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS RENEWED ANNUALLY EVERY SECOND QUARTER OF THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. HOWEVER, CURRENT TAX LAW DOES NOT REQUIRE GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS BE PROVIDED TO THE PUBLIC. NHS NEIGHBORHOOD LENDING SERVICE INC 3926 WILSHIRE BLVD 200 LOS ANGELES CA 90010 954646850 LENDING CA 501(C)(3) LINE 10 NEIGHBORHOOD HOUSING SERVICES-LA COUNTY 0 NEIGHBORHOOD HOUSING SERVICES OF LOS ANGELES COUNTRY 3926 WILSHIRE BLVD 200 LOS ANGELES CA 90010 953938955 DEVELOPMENT OF AFFORDABLE AND SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES CA 501(C)(3) LINE 7 NEIGHBORHOOD HOUSING SERVICES-LA COUNTY 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0