LAS PALMAS HOUSING AND DEVELOPMENT CORP (EIN 330895564) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

JOSEPH M MICHAELS

Phone

7609449050

Tax Period

2023-01-01 to 2023-12-31

LAS PALMAS HOUSING AND DEVELOPMENT CORP, founded in 2000, is a community nonprofit in the Housing & Shelter sector that reported $1.0M in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $575K, a strong 56% operating margin.

Mission

LAS PALMAS HOUSING AMP DEVELOPMENT IS A CALIFORNIA NONPROFIT CHARITABLE CORPORATION DEDICATED TO ACQUIRE, DEVELOP, REHABILITATE AND SUPPORT AFFORDABLE HOUSING. THE ORGANIZATION WAS CREATED TO INCREASE AND IMPROVE HOUSING FOR LOW AND MODERATE INCOME FAMILIES AND INDIVIDUALS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $246,713

Program Service Revenue $642,177

Investment Income $132,349

Other Revenue $0

TOTAL REVENUE $1,021,239

Expense Breakdown

Grants Paid $176,399

Salaries & Benefits $6,410

Fundraising Expenses $0

Program Expenses $402,636

Other Expenses $263,607

TOTAL EXPENSES $446,416

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,021,239	$1,501,250	-0.3%
Expenses	$446,416	$1,097,729	-0.6%
Net Income	$574,823	$403,521	+0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$5,700

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH M MICHAELS	PRESIDENT	010.00	Officer Director	$0	$0	$0
VICTOR J BARONE	DIRECTOR	002.00	Director	$1,700	$0	$5,700
RANDY STEVENSON	DIRECTOR	002.00	Director	$0	$0	$0
SHERRY AVERY	DIRECTOR	002.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,021,239	$446,416	$3,528,720	$574,823
2022	$1,501,250	$1,097,729	$2,953,897	$403,521
2021	$556,112	$103,573	$2,550,376	$452,539
2020	$581,042	$125,331	$2,097,837	$455,711
2019	$397,832	$111,339	$1,642,126	$286,493
2018	$290,755	$219,134	$1,356,521	$71,621

LAS PALMAS HOUSING AND DEVELOPMENT CORP