Path Ventures EIN 20-1892523

Path Ventures FY2020 filing

EIN  20-1892523 Public charity (501(c)(3)) Los Angeles, CA Founded 2004
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Verified accurate 7/22/26 · see original filing: IRS
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Size
$10–100M
What they do
Builds quality affordable and permanent supportive housing tailored to the specific needs of homeless and low-income individuals and families.
Leadership
Abbas Azara · Housing Director, Southern California · $110K
Money in and out
$2.5M revenue, $1.4M expenses
Bottom line
68% program efficiency

Builds quality affordable and permanent supportive housing tailored to the specific needs of homeless and low-income individuals and families. For fiscal year 2020 it reported $2.5M in revenue, $1.4M in expenses, and $10.4M in net assets.Pt I

Where the money goes · FY2020
Total revenue
$2.5M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$10.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.1M
Where spending went · Part IX cols B–D
Program services $0.68 Management & general $0.29 Fundraising $0.03
Program efficiency
68%
of spending reaches programs
Operating runway
10.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+44%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$2.5M
FY2020
Expenses
$1.4M
FY2020
Total assets
$68.4M
FY2020
Total liabilities
$58.0M
FY2020
Total revenue
$2.5M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$10.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$1.1M
Total assetsPt X · Ln 16$68.4M
Program-expense ratioPt IX · col B68%
Voting members of governing bodyPt I · Ln 319
Independent voting membersPt I · Ln 419
Mission & Programs · Part III

Where the work happens

1 program service account for $940K of program spending, described in the organization's own filed words · FY2020.
01

The organization builds affordable housing and permanent supportive housing for homeless and low income individuals and families. What distinguishes the organization is its approach to creating housing that serves the specific needs of the homeless population.

$940Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPath Ventures
EINHdr · item D20-1892523
Principal addressHdr · item CLos Angeles, CA
WebsiteHdr · item Jepath.org/path-ventures
Year of formationHdr · item L2004
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L20)
Ruling yearIRS BMFJun 2007

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a19
Independent voting membersPt VI · Ln 1b19
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Housing Director, Southern California
$110,128Pt VII · Sec A
Acting Executive Director
$108,009Pt VII · Sec A
Deputy Executive Director
$20,004Pt VII · Sec A
Chief Housing Director
$18,600Pt VII · Sec A
Senior Director of Finance
$16,339Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Co-Recording Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Joel Roberts’s $357K as CEO is at the 86th percentile of top reported officer pay among 672 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Joel Roberts$356,993$346,509$292,458$39,867
Anthony Bahamondes$210,128$190,391$145,783$74,252
Ernesto Espinoza$168,011$20,004
Lilian Najarro$162,096$146,669$133,485$127,938$16,339
Abbas Azara$142,512$110,128
Shiheng Guan$138,711$114,377$102,410
Michael Busse$129,020$110,915
Cynthia Wong$125,744$110,758

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$1.7M · 68%
Contributions & grants$802K · 33%
Program service revenue68%$1.7M
Contributions & grants33%$802K
Investment income$10K
— government grantsLn 1e$30K
Total revenueLn 12$2.5M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.68 Management & general $0.29 Fundraising $0.03
Program services68%$940K
Management & general29%$404K
Fundraising3%$35K
Total functional expensesLn 25$1.4M

Balance Sheet

Part X · end of year
CashLn 1$1.2M
Total assetsLn 16$68.4M
Total liabilitiesLn 26$58.0M
Total net assetsLn 32$10.4M
Months of cash on handcomputed10.2

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.2M · Operating expenses/yr $1.4M
10.2 months
Where the money goes
Program services
Program services $940K · Total expenses $1.4M
68%
Management & General
Management & general $404K · Total expenses $1.4M
29%
Fundraising
Fundraising $35K · Total expenses $1.4M
3%
Cost to raise $1
Fundraising expense $35K · Solicited contributions $772K
$0.05 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $802K · Total revenue $2.5M
33%
Government reliance
Government grants $30K · Total revenue $2.5M
1%
Earned-income share
Program service revenue $1.7M · Total revenue $2.5M
68%
Investment reliance
Investment income $10K · Total revenue $2.5M
0%
Program self-sufficiency
Program service revenue $1.7M · Total expenses $1.4M
120%
Growth & trend
Revenue growth (YoY)
This year $2.5M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $10.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.5M · Expenses $1.4M
+44%
Liabilities-to-Assets
Total liabilities — · Total assets $68.4M
Net-asset ratio
Net assets $10.4M · Total assets $68.4M
15%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $68.4M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Abbas Azara · Reported title HOUSING DIRECTOR, SOUTHERN CALIFORNIA · Highest reported compensation $110K · Total expenses $1.4M
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $733K · Total expenses $1.4M
53%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 68%
Overhead ratio 29%
Fundraising cost ratio 4%
Legal fee ratio 1%
Accounting fee ratio 9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$3K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$11.3M revenue · ⤓ 990 PDF
FY2023$8.6M revenue · ⤓ 990 PDF
FY2022$7.1M revenue · ⤓ 990 PDF
FY2021$15.2M revenue · ⤓ 990 PDF
FY2020$2.5M revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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