Overview
What is La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc?
La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc is a nonprofit organization established in 1987, primarily located in Pasadena, California. Their primary mission is to provide affordable housing for individuals who are 62 years old or older, with a focus on active low-income citizens. They operate an apartment complex in Los Angeles, funded through a Section 202 loan and Section 8 housing assistance payments, both regulated by the U.S. Department of Housing and Urban Development (HUD). The organization employs a team of 7 individuals and is dedicated to meeting the housing needs of their community.
Is La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc legitimate?
La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $205,897
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What is the mission statement of La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc?
La Posada of Los Angeles Inc, under the management of Falkenberg/Gilliam & Associates Inc, is committed to providing affordable housing for individuals who have reached the age of 62. Operating an apartment complex specifically designed for low-income seniors, La Posada aims to meet the housing needs of this age group. Established in 1987, the organization adheres to the guidelines set by the U.S. Department of Housing and Urban Development (HUD) regarding rental charges and operational methods. The project, regulated by HUD, is primarily funded through a Section 223(F) loan. Furthermore, La Posada receives Section 8 Housing Assistance Payments under an agreement with HUD, ensuring financial support for its residents.
What is the revenue of La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc?
La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc's revenue in 2023 was $1,227,201.
Who are the executives of La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc and what are their salaries?
The average compensation at La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc during 2023 was $29,414. There are 7 employees at La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc?
La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc
La Posada of Los Angeles Inc, overseen by Falkenberg/Gilliam & Associates Inc, is committed to providing affordable housing options for individuals who have reached the age of 62. Established in 1987, the organization acquired interest in real property in Los Angeles, California, and constructed an apartment complex specifically designed for low-income citizens within this age group. This project, regulated by the U.S. Department of Housing and Urban Development (HUD), offers 75 units and adheres to strict guidelines regarding rental charges and operating methods.
The primary program at La Posada of Los Angeles Inc is its Section 223(F) loan. Moreover, the project receives Housing Assistance Payments under an agreement with HUD. This financial support enables the organization to maintain affordable housing options for its senior residents, ensuring they can continue living with financial stability. The project is subject to HUD regulations, ensuring it upholds high standards of housing and care for its elderly residents. La Posada of Los Angeles Inc's mission is to provide a sanctuary for the elderly, offering them a safe and affordable living environment as they enter their golden years.
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Impact
October, 2024
La Posada of Los Angeles Inc., through its apartment complex in Pasadena, California, significantly impacts the community by providing affordable housing for seniors aged 62 and older. By offering 75 housing units, the organization addresses the critical need for accessible living options for low-income elderly citizens.
This initiative not only improves the quality of life for its residents by ensuring they have safe and stable housing, but it also fosters a sense of community among older adults who can live independently while still receiving support. The regulation of rental charges and operating methods through the U.S. Department of Housing and Urban Development (HUD) ensures that affordability is maintained, allowing seniors to allocate their limited resources to other essential needs, such as healthcare and daily living expenses.
Additionally, the presence of the project contributes to the local economy by creating jobs during the construction phase and ongoing employment in property management and maintenance. The housing assistance payments received under the Section 8 program further enhance the stability of the project, allowing it to sustain its mission in the long term.
In sum, La Posada of Los Angeles Inc. plays a crucial role in alleviating housing insecurity among older adults, fostering a supportive community, and supporting the economic health of the area.
This information is meant to be a general summary of La Posada Of Los Angeles Inc C/O Falkenberg/Gilliam & Associates Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $24,540
- Program Service Revenue: $287,849
- Gross Receipts: $1,227,201
Assets and Liabilities:
- Total Assets: $4,541,865
- Total Liabilities: $3,082,303
- Net Assets: $1,459,562
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$283,276
LAUNDRY INCOME
Revenue
$4,443
TENANT CHARGES
Revenue
$130
Organization Details
Founding Year
1991
Principal Officer
Michael Maloney
NTEE Category
Code: L22 - Housing
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