2025-05-09T12:11:43-05:00 2024-06-30 943108253 NOVOGRADAC & COMPANY LLP 3780 KILROY AIRPORT WAY SUITE 330 LONG BEACH CA 90822 990 2023-07-01 264142930 RESTORE NEIGHBORHOODS LA INC REST 2132701720 16925 DEVONSHIRE STREET 128 GRANADA HILLS CA 91344 JOHN PERFITT EXECUTIVE DIRECTOR 2132701720 2025-05-09 1 0 BRYAN HUNG P01553971 5624329482 2023 2025-03-06 01:10:19Z JOHN PERFITT 16925 DEVONSHIRE STREET 128 GRANADA HILLS CA 91344 1047707 0 X WWW.RN-LA.ORG X 2008 CA TO STABILIZE NEIGHBORHOODS BY PLACING FORECLOSED AND VACANT DWELLING UNITS BACK IN USE. 3 3 1 0 0 0 56100 275166 95776 554927 24 0 272710 217614 424610 1047707 186642 0 0 0 295589 303190 0 0 0 288676 716607 770907 1019797 -346297 27910 4829910 4246624 5633287 5028815 -803377 -782191 X REDUCE BLIGHT AND CREATE AFFORDABLE HOMEOWNERSHIP AND RENTAL OPPORTUNITIES IN NEIGHBORHOODS THROUGHOUT LOS ANGELES AND SURROUNDING COUNTIES BY PURCHASING, REHABILITATING, SELLING AND/OR DISPOSING OF RESIDENTIAL PROPERTIES. 0 0 904637 772541 SEE SCHEDULE O. 904637 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X JOHN PERFITT 2132701720 16925 DEVONSHIRE STREET 128 GRANADA HILLS CA 91344 DAN FALCON BOARD CHAIR 1.00 X 0 0 0 PAUL FREESE BOARD DIRECTOR 1.00 X 0 0 0 MARGIE FRANCIA BOARD SECRETARY 1.00 X 0 0 0 MOTT SMITH TREASURER 1.00 X X 0 0 0 JOHN PERFITT EXECUTIVE DIRECTOR 25.00 X 191200 0 0 191200 0 0 1 0 1 0 0 275166 275166 DEVELOPER FEES 230000 306693 306693 CONSTRUCTION BILLING 230000 248234 248234 554927 150815 0 150815 150815 150815 OTHER INCOME 900099 55325 55325 CONSULTING INCOME 900099 8968 8968 FLOWTHROUGH CONSTRUCTI 900099 3768 3768 -1262 -1262 66799 1047707 772541 0 0 191200 149329 41871 86982 67934 19048 2302 1798 504 15779 12324 3455 6927 5410 1517 3000 3000 35511 35511 10070 7865 2205 48289 48289 42523 42523 10235 7994 2241 PROPERTY COST 361689 361689 POST TDC - CONSTRUCTION 165717 165717 REPAIRS AND MAINTENANCE 38165 29807 8358 DUES AND SUBSCRIPTIONS 1226 958 268 182 182 1019797 904637 115160 0 77482 331782 7504 4 3458 1637073 1674823 1269735 500207 1490699 124573 1410683 1366126 186340 161433 241093 208791 4829910 4246624 72844 308892 2885053 2126837 2675390 2593086 5633287 5028815 X -803377 -782191 -803377 -782191 4829910 4246624 X 27910 -6724 X 0 0 0 X 701680 92641 287500 56100 275166 1413087 701680 92641 287500 56100 275166 1413087 189348 1223739 249336 84268 152885 360472 772541 1619502 3032589 1044986 0.40350 0.48670 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: DEVELOPER FEES - 2019 AMOUNT: $ 249,336. 2020 AMOUNT: $ 16,111. 2023 AMOUNT: $ 306,693. FLOWTHROUGH INCOME - 2020 AMOUNT: $ 34,022. 2021 AMOUNT: $ -2,720. 2022 AMOUNT: $ 144,643. 2023 AMOUNT: $ 2,506. PPP LOAN FORGIVEN - 2020 AMOUNT: $ 27,242. 2023 AMOUNT: $ 0. INTEREST INCOME - 2020 AMOUNT: $ 1,955. 2021 AMOUNT: $ 41. 2022 AMOUNT: $ 24. 2023 AMOUNT: $ 0. CONSTRUCTION INCOME - 2020 AMOUNT: $ 1,125. 2021 AMOUNT: $ 21,407. 2022 AMOUNT: $ 30,686. 2023 AMOUNT: $ 248,234. OTHER INCOME - 2020 AMOUNT: $ 3,813. 2021 AMOUNT: $ 134,157. 2022 AMOUNT: $ 27,613. 2023 AMOUNT: $ 55,325. RENTAL INCOME - 2022 AMOUNT: $ 107,804. 2023 AMOUNT: $ 150,815. CONSULTING INCOME - 2022 AMOUNT: $ 49,702. 2023 AMOUNT: $ 8,968. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 233463 233463 1115617 70030 1045587 51527 5152 46375 62615 22355 40260 27477 27036 441 1366126 DUE TO LOS ANGELES HOUSING COMMUNITY INVESTMENT DEPARTMENT 2593086 2593086 PART X, LINE 1: RNLA IS TAX EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE REVENUE AND TAXATION CODE OF CALIFORNIA. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. RNLA HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2024. RNLA'S FEDERAL AND STATE INCOME TAX RETURNS PRIOR TO THE 2020 AND 2019 FISCAL YEARS, RESPECTIVELY, ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF APPLICABLE, RNLA RECOGNIZES INTEREST AND PENALTIES ASSOCIATED WITH TAX MATTERS AS PART OF INCOME TAX EXPENSE AND INCLUDES ACCRUED INTEREST AND PENALTIES WITH ACCRUED EXPENSES IN THE STATEMENT OF FINANCIAL POSITION. 0 0 0 0 0 0 0 0 0 JOHN PERFITT EXECUTIVE DIRECTOR 191200 0 0 0 0 0 0 0 0 0 191200 0 0 0 FORM 990, PART III, LINE 4A: HOME OWNERSHIP REHABILITATION PROGRAM: SINGLE FAMILY HOMES RESTORE NEIGHBORHOODS LA (RNLA) ACQUIRES FORECLOSED SINGLE-FAMILY HOMES IN BULK FROM THE NATIONAL COMMUNITY STABILIZATION TRUST AND OTHER SERVICING COMPANIES, REHABILITATES THEM AND SELLS THEM TO ELIGIBLE HOMEBUYERS WHOSE INCOME DOES NOT EXCEED 120% OF AMI. THE HOME WILL BE REHABILITATED TO MEET CODE REQUIREMENTS, ADDRESS ALL MAJOR BUILDING DEFICIENCIES, AND INCORPORATE ENVIRONMENTALLY RESPONSIBLE GREEN BUILDING COMPONENTS. SOME PROPERTIES MAY BE RIGHT-SIZED WITH THE ADDITION OF A NEW BEDROOM AND BATHROOM TO BETTER ACCOMMODATE THE NEEDS OF LARGER HOUSEHOLDS. AS REHABILITATION IS NEARING COMPLETION, RNLA WILL LIST ALL HOMES FOR SALE ON OUR WEBSITE UNDER THE PROPERTIES SECTION. MULTI-UNIT PROPERTIES RNLA WILL ALSO PURCHASE FORECLOSED AND ABANDONED 2-4 MULTI-UNIT, AND 5+ UNIT RENTAL PROPERTIES AND OFFER THEM, THROUGH A COMPETITIVE PROCESS, FOR OWNERSHIP AND REHABILTATION BY ORGANIZATIONS WITH DEMONSTRATED CAPACITY AND EXPERIENCE WITH AFFORDABLE HOUSING DEVELOPMENT AND MANAGEMENT. RNLA WILL GROUP THESE MULTI-FAMILY PROPERTIES INTO CLUSTERS WITH SOME GEOGRAPHIC PROXIMITY IN ORDER TO ACHIEVE ECONOMIES OF SCALE WITH THE REHABILITATION AND LONG-TERM OPERATION OF THE RENTAL PROPERTIES. RNLA WILL FULLY COMPLY WITH THE CITY OF LOS ANGELES RENT STABILIZATION ORDINANCE WHICH PROTECTS TENANTS FROM EVICTION AS A RESULT OF A FORECLOSURE. IT IS ANTICIPATED THAT MANY RNLA PURCHASED MULTI-FAMILY PROPERTIES WILL BE PARTIALLY OR FULLY OCCUPIED. IF TEMPORARY RELOCATION IS NECESSARY TO FACILITATE A TIMELY REHABILITATION OF THE PROPERTY, RNLA WILL WORK WITH EXISTING TENANTS TO MINIMIZE DISRUPTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL QUESTIONNAIRES ARE GIVEN TO THE BOARD AND COMPLETED VERSIONS ARE KEPT ON RECORD. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR ENSURING ALL QUESTIONNAIRES HAVE BEEN COMPLETED. PROSPECTIVE BOARD MEMBERS ARE BRIEFED ON THE CONFLICT OF INTEREST POLICY AS PART OF THE BOARD RECRUITMENT PROCESS. BOARD MEMBERS ARE INVITED TO DISCUSS POTENTIAL OR ACTUAL CONFLICTS WITH FELLOW BOARD MEMBERS AT BOARD MEETINGS. IN THE EVENT OF A POTENTIAL CONFLICT OF INTEREST, THE BOARD WOULD DECIDE THE BEST COURSE OF ACTION. THAT DECISION WOULD BE RECORDED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE PERSONNEL COMMITTEE REVIEWS WAGE AND BENEFIT COMPARABILITY DATA COMPILED USING INFORMATION FROM OTHER NON-PROFIT ORGANIZATIONS WITH SIMILAR-SIZED BUDGETS AND IN SIMILAR URBAN LOCATIONS TO DETERMINE THE REASONABLENESS OF THE EXECUTIVE DIRECTOR'S COMPENSATION. THE PERSONNEL COMMITTEE PRESENTS ITS RECOMMENDATION TO THE BOARD AND THE BOARD THEN APPROVES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR, INDEPENDENTLY AND WITHOUT THE PARTICIPATION OF ANY INTERESTED PERSON. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: FLOW THROUGH CONSTRUCTION INCOME - BOOK/TAX DIFFERENCES -2,506. DEPRECIATION EXPENSE - BOOK/TAX DIFFERENCES -4,218. 5900 FIGUEROA SUPPORTIVE HOUSING LLC 16925 DEVONSHIRE STREET 128 GRANADA HILLS CA 91344 852742204 REAL ESTATE CA RESTORE NEIGHBORHOODS LA WILLOWBROOK AFFORDABLE HOUSING LLC 16925 DEVONSHIRE STREET 128 GRANADA HILLS CA 91344 852484393 REAL ESTATE CA RESTORE NEIGHBORHOODS LA SOUTH CENTRAL BUNGALOW GARDENS LLC 16925 DEVONSHIRE STREET 128 GRANADA HILLS CA 91344 371914686 GENERAL CONTRACTING CA RESTORE NEIGHBORHOODS LA INC RELATED 0 0 JOVENES 4TH STREET HOUSING LLC 16925 DEVONSHIRE STREET 128 GRANADA HILLS CA 91344 852854158 GENERAL CONTRACTING CA RESTORE NEIGHBORHOODS LA INC RELATED 0 0 0.50000 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SOUTHERN CENTRAL BUNGALOW GARDENS LLC D COST JOVENES 4TH STREET HOUSING LLC D COST