2025-01-22T11:46:36-06:00 2024-06-30 450250958 EIDE BAILLY LLP 10681 FOOTHILL BLVD STE 300 RANCHO CUCAMONGA CA 917303831 990 2023-07-01 204562686 LA PROMISE FUND LAPR 2137454928 1933 S BROADWAY SUITE 1108 LOS ANGELES CA 90007 VERONICA MELVIN CEO/PRESIDENT 2137454928 2025-01-22 1 0 CATHERINE L GRAY CPA P01294460 9094664410 2025-01-22 2023 2024-10-15 13:58:12Z VERONICA MELVIN 1933 S BROADWAY SUITE 1108 LOS ANGELES CA 90007 22368544 0 X WWW.LAPROMISEFUND.ORG X 2005 CA PREPARING LOS ANGELES STUDENTS FOR SUCCESS IN COLLEGE, CAREER AND LIFE.WORKING THROUGH A NETWORK OF HIGH-PERFOMING,COMMUNITY-BASED SCHOOLS AND A PORTFOLIO OF PROGRAMS THAT REACH STUDENTS THROUGHOUT LA COUNTY,THE LA PROMISE FUND CREATES VIBRANT COMMUNITY HUBS AND PARTNERSHIPS THAT FOSTER MOTIVATED,ENGAGED, AND DIRECTED STUDENTS POISED FOR ACADEMIC, PROFESSIONAL, AND PERSONAL SUCCESS. 22 22 144 90 -252218 0 14799573 18085771 0 0 524417 875668 -1577992 557425 13745998 19518864 911844 516763 0 0 8948135 9473134 0 0 493399 5442656 5956472 15302635 15946369 -1556637 3572495 48218284 49943711 42230256 40383188 5988028 9560523 TO IMPROVE ACADEMIC ACHIEVEMENT AS WELL AS COLLEGE AND CAREER ACCESS AND SUCCESS FORSTUDENTS IN THE RUSSELL WESTBROOK WHY NOT? ACADEMY, SLATE-Z, AND BEYOND. 0 0 12400230 516763 WORKING THROUGH OUR CHARTER SCHOOLS AND A PORTFOLIO OF PROGRAMS THAT REACH STUDENTSTHROUGHOUT LA COUNTY, LA PROMISE FUND CREATES VIBRANT COMMUNITY HUBS AND PARTNERSHIPS THATFOSTER MOTIVATED, ENGAGED AND DIRECTED STUDENTS POISED FOR ACADEMIC, PROFESSIONAL ANDPERSONAL SUCCESS. 12400230 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 144 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X THE ORGANIZATION 2137454928 1933 S BROADWAY SUITE 1108 LOS ANGELES CA 90007 FRANK MARSHALL DIRECTOR 4.00 X 0 0 0 JAIME UZETA DIRECTOR 4.00 X 0 0 0 CATHY BENDER DIRECTOR 4.00 X 0 0 0 DANIELLE VICK DIRECTOR 8.00 X 0 0 0 DEAN HALLETT TREASURER 4.00 X X 0 0 0 ALISON TEMPLE DIRECTOR 4.00 X 0 0 0 DONNEL BEVERLY CO-CHAIR 8.00 X X 0 0 0 IVELISSE ESTRADA DIRECTOR 4.00 X 0 0 0 LEO MEDINA DIRECTOR (STARTED 6/20/24) 4.00 X 0 0 0 FERNANDO FERNANDEZ DIRECTOR 8.00 X 0 0 0 PAUL DEBERNIER DIRECTOR 4.00 X 0 0 0 ELIZABETH MANN SECRETARY 8.00 X X 0 0 0 MEGAN CHERNIN DIRECTOR 4.00 X 0 0 0 KATHLEEN KENNEDY DIRECTOR 4.00 X 0 0 0 BRIAN MCNAMEE DIRECTOR 4.00 X 0 0 0 STEPHEN PROUGH CO-CHAIR 8.00 X X 0 0 0 AMIT VERMA DIRECTOR 4.00 X 0 0 0 ALI POWELL DIRECTOR 4.00 X 0 0 0 RUSSELL WESTBROOK DIRECTOR 4.00 X 0 0 0 SIMON OSBORN DIRECTOR 4.00 X 0 0 0 PETER JAROWEY DIRECTOR 4.00 X 0 0 0 MELISSA STEPHENS DIRECTOR 4.00 X 0 0 0 TANESHA DUNCAN DIRECTOR 4.00 X 0 0 0 MOLLY PARK DIRECTOR (STARTED 6/20/24) 4.00 X 0 0 0 VERONICA MELVIN CEO/PRESIDENT 40.00 X 269835 0 38545 EDGAR CAMPOS CHIEF ADVANCEMENT OFFICER (STARTER 3/25/24) 40.00 X 0 0 0 RON FERNANDO CFO (STARTED 4/4/24) 40.00 X 0 0 0 IBERT SCHULTZ EXEC DIR OF BLACK COLLEGE SUCCESS 40.00 X 210960 0 27177 LILIANA VASQUEZ COO 40.00 X 154615 0 13645 LESLIE TRESUN DIRECTOR OF GRANTS MANAGEMENT 40.00 X 104202 0 13705 DARLA VANCE PRINCIPAL 40.00 X 119199 0 12721 ZEIDY REVOLORIO PRINCIPAL 40.00 X 120423 0 8370 KYLE MILLER CHIEF STRATEGIC OFFICER (7/1/23-9/30/23) 40.00 X 122838 0 14367 DONNA JACOBSON CHIEF ACADEMIC OFFICER (7/1/23-9/30/23) 40.00 X 133619 0 13583 1235691 0 142113 8 0 1 0 DEL AMO CONSTRUCTION 23840 MADISON ST TORRANCE CA 90505 CONSTRUCTION SERVICES 5263149 JFAK ARCHITECTURE 1461 E 4TH STREET LOS ANGELES CA 90033 ARCHITECTUAL PLANNING 213442 EXED 1990 S BUNDY DR 340 LOS ANGELES CA 90025 EDUCATIONAL ACCOUNTING SERVICES 189600 REA COMMERCIAL SECURITY 2421 W 205TH ST STE D-101 TORRANCE CA 90501 SECURITY SERVICES 181740 PRIMESTOR DEVEOPMENT LLC 9950 JEFFERSON BLVD BUILDING 2 CULVER CITY CA 90232 DEVELOPENT MANAGEMENT 136648 5 4471168 13614603 18085771 875668 875668 2129733 2381951 -252218 -252218 -252218 637960 467729 170231 170231 OTHER INCOME 900099 639412 639412 639412 19518864 639412 -252218 1045899 X 516763 516763 663039 663039 7306149 6176777 807329 322043 127801 76283 44102 7416 762430 617137 121343 23950 613715 477512 111854 24349 1869914 1282891 565082 21941 227332 194489 30967 1876 689411 581123 69480 38808 1075578 789946 283332 2300 20920 18380 1736 804 57641 55815 1826 45819 45819 228672 2153 226519 SCHOOL EXPENSES 983048 983048 TRANSPORTATION 427619 426944 675 FOOD AND CATERING 174394 95242 47477 31675 MISCELLANEOUS 49596 26558 23038 106528 33350 57442 15736 15946369 12400230 3052740 493399 22137482 18636753 911478 4202657 1196756 1790696 168899 141900 27232326 2190616 23635756 25041710 167913 129995 48218284 49943711 1750899 1640582 2129733 34684527 34753174 1693744 2091570 1971353 1897862 42230256 40383188 X 5354261 5434650 633767 4125873 5988028 9560523 48218284 49943711 3572495 0 X 0 1 X 1 0 X 11950432 12932286 16191269 14873123 18723731 74670841 11950432 12932286 16191269 14873123 18723731 74670841 74670841 875668 875668 -252218 -252218 75294291 0.99170 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26137215 1547105 24590110 1095111 643511 451600 0 25041710 CA SCHOOL FINANCE AUHTORITY LOAN 1852000 OPERATING LEASE LIABILITY 45862 1897862 X 22013405 112590 2381951 2494541 19518864 0 19518864 18440910 112590 2381951 2494541 15946369 0 15946369 PART X, LINE 2: MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 2,381,951. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 2,381,951. GIRLS BUILD SUMMIT 333500 333500 20000 12000 25000 198000 ARTS MATTER SYMPOSIUM 304460 304460 15000 13250 15000 169479 637960 637960 35000 25250 40000 367479 467729 170231 1 EDUCATIONAL SCHOLARSHIPS 521 516763 PART I, LINE 2: WHEN NOTIFYING A STUDENT THAT THEY ARE RECEPIENT OF A SCHOLARSHIP, THEY ARE PROVIDED WITH A LETTER EXPLAINING THE ELIGIBLE EXPENSES THAT CAN BE USED AGAINST THE SCHOLARSHIP. IN ADDITION, PRIOR TO RELEASING SCHOLARSHIP FUNDS THE STUDENT MUST PROVIDE PROOF OF ENROLLMENT. THE DONOR AND MENTORS WHO PROVIDE THE DONATIONS TO BE USED AS SCHOLARSHIPS, THEN FOLLOW UP WITH THE RECEIPIENT TO CHECK IN ON THEIR STATUS AS A STUDENT. X X X 0 0 0 0 0 0 0 0 0 VERONICA MELVIN CEO/PRESIDENT 269535 0 300 0 0 0 9771 0 28774 0 308380 0 0 0 IBERT SCHULTZ EXEC DIR OF BLACK COLLEGE SUCCESS 210960 0 0 0 0 0 0 0 27177 0 238137 0 0 0 LILIANA VASQUEZ COO 154065 0 550 0 0 0 6287 0 7358 0 168260 0 0 0 A CALIFORNIA SCHOOL FINANCE AUTHORITY 680280917 13058TPA2 2021-12-14 35060258 0 0 0 A 35060258 651763 34408495 0 0 0 1 A 1 0 0 0 0 0 A 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE SENIOR LEADERSHIP AND THEN PRESENTED TO THE FINANCE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL QUESTIONAIRES ARE COMPLETED BY EACH BOARD MEMBER. THE COMPLIANCE OFFICER, CEO, AND COO MONITOR THE COMPLIANCE OF THE CONFLICT OF INTEREST POLICY. IF A CONFLICT SHOULD ARISE THE EXECUTIVE COMMITTEE WILL MEET TO ADDRESS AND RESOLVE THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS SET THE COMPENSATION, ON AN ANNUAL BASIS, OF THE CEO BASED ON PERFORMANCE, COMPARABLE DATA OF SIMILAR ORGANIZATIONS AND THE FINANCIAL STATUS OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 635,661. MANAGEMENT AND GENERAL EXPENSES 489,359. FUNDRAISING EXPENSES 98. TOTAL EXPENSES 1,125,118. OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 647,230. MANAGEMENT AND GENERAL EXPENSES 75,723. FUNDRAISING EXPENSES 21,843. TOTAL EXPENSES 744,796. LA PROMISE FUND FACILITY LLC 1933 S BROADWAY SUITE 1108 LOS ANGELES CA 90007 PROPERTY HOLDING LLC CA 2381951 34945544