FLEXIBLE PSH SOLUTIONS INC

EIN: 824332625 501(c)(3) Housing & Shelter

Los Angeles, CA

Total Revenue
$1,229
Total Expenses
$9,317
Total Assets
$57,782,168
Net Assets
$-43,393
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
CA
Principal Officer
John Molloy
Phone
2132487185
Tax Period
2023-01-01 to 2023-12-31

FLEXIBLE PSH SOLUTIONS INC, founded in 2018, is a micro nonprofit in the Housing & Shelter sector that reported $1K in total revenue in fiscal year 2023. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $9K exceeded revenue, resulting in a 658% operating deficit.

Mission

Flexible PSH Solutions, Inc. develops and operates permanent supportive housing (PSH) by offering a creative approach to increasing the volume of PSH that serves the chronically homeless in California and provides supportive services to help keep its tenants living in homes and not in the streets. The Organization advanced its development progress in respect of its Enlightenment Plaza project by completing its project funding for the Montesquieu, Rousseau, and Voltaire project phases. Substantial progress was made in the construction of each of the buildings making up the first three phases of Enlightenment Plaza. As of the close of the calendar year, funding decisions based on certain application requests made by F-PSH for the 4th phase of of the Project, Locke Lofts, were pending with the expectation that such applications would receive funding awards in the 1st qtr of 2024.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

Flexible PSH Solutions advanced the development of its Enlightenment Plaza affordable housing project in 2023, advancing the construction of the first three of its five phases of the project in...

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Flexible PSH Solutions advanced the development of its Enlightenment Plaza affordable housing project in 2023, advancing the construction of the first three of its five phases of the project in support of more than 150 units of the total 387 planned units for the project. In addition, F-PSH secured funding commitments in support of its next project phase, Locke Lofts, a project phase that will build an additional 150 affordable permanent supportive housing units within the Enlightenment Plaza campus. Construction completion on the first three phases, consisting of the Rousseau, Montesquieu, and Voltaire projects is expected in the 3rd and 4th quarters of 2024 and the 1st and 2nd quarter of 2025. The funding preparation work and commitments received for Locke Lofts that F-PSH accomplished in 2022 is anticipated to lead to construction financing closing during 4th qtr 2024 or 1st qtr 2025, with ground-breaking occuring by the 2nd qtr of 2025.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $1,229
TOTAL REVENUE $1,229

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,838
Fundraising Expenses $0
Program Expenses $0
Other Expenses $3,479
TOTAL EXPENSES $9,317

Year-over-Year Comparison

2023 2022 Change
Revenue $1,229 $289,297 -1.0%
Expenses $9,317 $354,726 -1.0%
Net Income $-8,088 $-65,429 -0.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
4
Employees
1
Volunteers
4

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
2
$0
Total Directors
6
$0
Key Employees
1
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Paul Fox Director 0.25
Director
$0 $0 $0
Curtis Holguin Director 0.5
Director
$0 $0 $0
James Kohn Director 0.25
Director
$0 $0 $0
Philip Nelson Lee Director 0.25
Director
$0 $0 $0
John E Molloy CEO 40
Officer Director
$0 $0 $0
Stephen L Hicks CFO 40
Officer Director
$0 $0 $0
Travis McClendon Associate 0
Key Emp
$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 $1,229 $9,317 $57,782,168 $-8,088
2022 $289,297 $354,726 $40,488,199 $-65,429
2021 $127,716 $114,273 $2,314,531 $13,443
2020 $80,256 $80,256 $1,027,344 No data
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