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Las Cortes INC FY2022 filing

Tax-deductible

Oxnard, CA501(c)(3)Housing EIN 20-4574636Revenue $44K in FY2022

On file with the IRS435 South D Street Suite 103, 93030-5918 · Oxnard, CATax-exempt since Jan 2007Publicly supported — 509(a)(2)

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To provide quality affordable housing in oxnard and support social services to empower residents.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $21K a year · 45% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
377 mo
of spending, in cash
Looks good: 377.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$600K
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$44K
+17% vs prior year
Spent
$23K
To programs
100%
Net assets
$552K
By yearFY2021–FY2025
Revenue
$44K
FY2022▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2021$37K
FY2022$44K
FY2023$56K
FY2024$44K
FY2025$53K
Expenses
$23K
FY2022▼ -52%
Tap a bar for its year
Expenses by fiscal year
FY2021$48K
FY2022$23K
FY2023$18K
FY2024$19K
FY2025$21K
Net assets
$552K
FY2022▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2021$531K
FY2022$552K
FY2023$590K
FY2024$615K
FY2025$648K

From the FY2022 Form 990 (year ending June 2022) · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $23K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Miguel Aranda
President
$0Pt VII · Sec A
Robert V Sanchez
Vice-President
$0Pt VII · Sec A
Carmen Cano
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jose Andrade
Director
$0Pt VII · Sec A
Emilio Ramirez
Oxnard Housing Director
$0Pt VII · Sec A
Rhonda Hodge
Housing Financial Officer
$0Pt VII · Sec A
See Las Cortes INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds affordable housing and offers social services to empower Oxnard residents.

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Provided by the organization

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1 program · $23K · in their own filed words · FY2021
01

Las cortes, inc. Is a corporation that was authorized by the city council on december 20, 2005 for the sole purpose of creating affordable housing, and is currently the only oxnard based non-profit that produces affordable housing. Las cortes, inc.

$23Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$44K
Ln 12
Fees for servicesLn 2g$44K
Money outPt IX
$23K
Ln 25
Programscol B$23K
Owns and owesPt X
$552K
net assets · Ln 32
Cash and savingsLn 1–2$727K
Total assetsLn 16$1.2M
LiabilitiesLn 26$600K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$44K
Total revenueLn 12$44K
Assets in detailPt X, end of year
CashLn 1$727K
Cash and savings togetherLn 1–2$727K
InvestmentsLn 11–13$230
Total assetsLn 16$1.2M
LiabilitiesLn 26$600K
Net assetsLn 32$552K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$673K$727K
InvestmentsLn 11–13$230$230
Total assetsLn 16$1.1M$1.2M
LiabilitiesLn 26$590K$600K
Net assetsLn 32$531K$552K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$7K$7K
Other employee benefitsLn 9$3K$3K
Office expensesLn 13$991$991
OccupancyLn 16$3K$3K
InsuranceLn 23$9K$9K
Total functional expensesLn 25$23K$23K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $53K$21K$33K$648K 990 PDF
FY2024 $44K$19K$25K$615K 990 PDF
FY2023 $56K$18K$38K$590K 990 PDF
FY2022 Viewing $44K$23K$21K$552K 990 PDF
FY2021 $37K$48K−$10K$531K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $43,799 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $37,295$43,799
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $37,295$43,799
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,436$10,054
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $39,251$13,068
I-18 Total expensesPrior year $47,687$23,122
I-19 Revenue less expensesPrior year −$10,392$20,677
Part VI · Governance 6 of 6 board members independent, 5 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $43,799 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $43,799$43,799
VIII-12 Total revenueRelated to mission $43,799 · Unrelated business $0 · Excluded from tax $0$43,799
Part IX · Statement of functional expenses $23,122 across 5 lines filed
IX-7 Other salaries and wagesPrograms $6,567$6,567
IX-9 Other employee benefitsPrograms $3,487$3,487
IX-13 Office expensesPrograms $991$991
IX-16 OccupancyPrograms $2,722$2,722
IX-23 InsurancePrograms $9,355$9,355
IX-25 Total functional expensesPrograms $23,122 · Management $0 · Fundraising $0$23,122
Part X · Balance sheet $1,151,974 assets, 8 lines filed
Asset lines not itemized here account for $418,686; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $672,592$726,711
X-9 Prepaid expenses and deferred chargesStart of year $6,353$6,347
X-12 Other securitiesStart of year $230$230
X-16 Total assetsStart of year $1,121,245$1,151,974
X-17 Accounts payable and accrued expensesStart of year $2$10,054
X-26 Total liabilitiesStart of year $590,002$600,054
X-32 Total net assets or fund balancesStart of year $531,243$551,920
X-33 Total liabilities and net assetsStart of year $1,121,245$1,151,974
Part XI · Reconciliation of net assets $551,920 net assets at year end
XI-1 Total revenue$43,799
XI-2 Total expenses$23,122
XI-3 Revenue less expenses$20,677
XI-4 Net assets at start of year$531,243
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$551,920

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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