Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1992.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
88 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
6 people listed on the 990; $675K paid to officers and key staff.
Compensation history total reportable pay by year · 6 named individuals · Part VII
| Name | FY2024 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|
| Joseph Michaels | $526,418 | $434,820 | $383,654 | $349,029 |
| Noami Pines | $139,974 | — | — | — |
| Ryan Monte | $138,320 | $114,734 | $110,149 | — |
| Leslie Michaels | $126,560 | $125,357 | $114,918 | $115,626 |
| Mary White | $120,432 | — | — | — |
| Victor Barone | — | — | — | $3,065 |
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.
See Las Palmas Foundation executive salaries →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 15aYes
Programs and updates
Acquires, develops, and rehabilitates affordable housing for low-income families and individuals.
Questions for Las Palmas Foundation
Your first name shows with your question. Las Palmas Foundation answers here, for everyone.
Co-managing general partner in cambria PSH which owns and operates a 57 unit affordable family apartment complex in los angeles california.
Co-managing general partner in alegre fund which owns and operates a 104 unit affordable family complex in irvine, california.
Co-managing general partner in almaden family housing partners which owns and operates a 220 unit affordable family apartment project in san jose, california. It is a bond and tax credit development.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $3.9M | $4.5M |
| InvestmentsLn 11–13 | $1.9M | $2.1M |
| Total assetsLn 16 | $6.1M | $6.9M |
| LiabilitiesLn 26 | $0 | $15K |
| Net assetsLn 32 | $6.1M | $6.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $675K | $578K | $97K | |
| Other salaries and wagesLn 7 | $210K | $207K | $3K | |
| Pension plan contributionsLn 8 | $18K | $16K | $2K | |
| Other employee benefitsLn 9 | $96K | $86K | $10K | |
| Payroll taxesLn 10 | $51K | $46K | $5K | |
| Accounting feesLn 11c | $6K | $6K | ||
| Investment management feesLn 11f | $2K | $2K | $231 | |
| Office expensesLn 13 | $30K | $26K | $3K | |
| Information technologyLn 14 | $7K | $6K | $721 | |
| OccupancyLn 16 | $43K | $39K | $4K | |
| TravelLn 17 | $1K | $1K | $144 | |
| Conferences, conventions and meetingsLn 19 | $12K | $11K | $1K | |
| InsuranceLn 23 | $4K | $2K | $2K | |
| Other expenses (24a–d)Ln 24 | $55K | $50K | $5K | |
| Total functional expensesLn 25 | $1.2M | $1.1M | $140K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 LatestFiled with the IRS May 12, 2026 | $7.0M | $1.5M | $5.5M | $25.9M | 990 PDF |
| FY2023Filed with the IRS Nov 26, 2024 | $2.1M | $1.4M | $698K | $7.5M | 990 PDF |
| FY2022 ViewingFiled with the IRS Nov 15, 2023 | $2.0M | $1.2M | $757K | $6.8M | 990 PDF |
| FY2021Filed with the IRS Nov 15, 2022 | $2.0M | $1.1M | $917K | $6.1M | 990 PDF |
| FY2020Filed with the IRS Nov 15, 2021 | $1.4M | $1.1M | $260K | $5.2M | 990 PDF |
Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $1,967,411 revenue, 12 lines filed
Part VI · Governance 3 of 4 board members independent, 1 to look at
Part VIII · Statement of revenue $1,967,411 across 3 lines filed
Part IX · Statement of functional expenses $1,210,804 across 14 lines filed
Part X · Balance sheet $6,856,312 assets, 12 lines filed
Part XI · Reconciliation of net assets $6,841,312 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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