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Altamed Foundation

Tax-deductible

Commerce, CA501(c)(3)Since 1987EIN 95-4090420Revenue $10.3M in FY2024

On file with the IRSaltamedfoundation.org2040 Camfield Ave, 90040-1502 · Commerce, CATax-exempt since Dec 1987Supporting organization — 509(a)(3)

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Altamed foundation's mission is to support Altamed health services corp. In its mission to increase access to comprehensive health & human services and reduce health care disparities in the communities of southern california.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 25 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $15.1M a year · 87% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 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
33 mo
of spending, in cash
Looks good: 33.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
13
named funders · $3.0M
Looks good: 13 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$6.4M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 33 voting members
Looks good: 30 of 33 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10.3M
+116% vs prior year
Spent
$6.2M
To programs
100%
Net assets
$60.7M
By yearFY2021–FY2024
Revenue
$10.3M
FY2024▲ +116%
Tap a bar for its year
Revenue by fiscal year
FY2021$50.2M
FY2022$4.3M
FY2023$4.8M
FY2024$10.3M
Expenses
$6.2M
FY2024▲ +329%
Tap a bar for its year
Expenses by fiscal year
FY2021$20K
FY2022$1.3M
FY2023$1.4M
FY2024$6.2M
Net assets
$60.7M
FY2024▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2021$50.2M
FY2022$53.2M
FY2023$56.5M
FY2024$60.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1987.

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% · $6.2M

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

33 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Celia Huber
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Duane Saikami
Board Member
$0Pt VII · Sec A
Fred Flores
Board Member
$0Pt VII · Sec A
See Altamed Foundation 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

Increases access to health and human services, reducing disparities in Southern California.

Questions for Altamed Foundation

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Provided by the organization

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3 programs · $3.9M · in their own filed words · FY2024
01

The foundation was founded to support ahsc in achieving it mission to increase access to comprehensive health and human services and reduce healthcare disparities in southern california communities. The foundation provided support to its supported organization, altamed health servics corp.

$1.7Mprogram expense
02

General clinical carethis care was provided to some of the 5.5% of altamed patients who are uninsured and cannot afford to pay the full cost of care. The scope of care includes primary care, dental care, behavioral health and any speciality care altamed offers onsite.

$1.3Mprogram expense
03

Mobile CLINIC/CLINIC home visit programclinician home visit programfour clinical teams serve over 550 chronically ill patients at home. These patients are too ill or unable to come into a clinic, because they face a variety of challenges, including transportation.

$884Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
The UCLA FoundationFY2024$2.0M
California Healthcare FoundationFY2024$325K
California Community FoundationFY2024$150K
White Memorial Medical CenterFY2024$125K
Children's Hospital Los AngelesFY2024$125K
Raza Development Fund INCFY2024$100K
The San Francisco FoundationFY2024$50K
Ralph M Parsons FoundationFY2024$35K
Total grants receivedfrom 13 funders$3.0M
See all 13 funders →
Grants paid · 5 grants · $7.8M · 2022–2024
Altamed Health Services CorporationCA · FY2024$6,002,567
Unitemized GrantFY2024$197,750
Altamed Health Services CorporationCA · FY2023$1,234,902
Unitemized GrantFY2023$146,957
Unitemized GrantFY2022$201,322

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$10.3M
Ln 12
Gifts and grantsLn 1h$7.6M
Investment incomeLn 3$2.6M
Other incomeLn 4–11$81
Money outPt IX
$6.2M
Ln 25
Programscol B$6.2M
Owns and owesPt X
$60.7M
net assets · Ln 32
Cash and savingsLn 1–2$17.2M
Total assetsLn 16$67.1M
LiabilitiesLn 26$6.4M
PeoplePt VI, VII
33
listed · VII A
PaidVII A0
Voting boardVI 1a33
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.6M
Investment incomeLn 3$2.6M
Other incomeLn 4–11$81
Gains on assetsLn 7$98K
Total revenueLn 12$10.3M
Assets in detailPt X, end of year
CashLn 1$12.1M
SavingsLn 2$5.0M
Cash and savings togetherLn 1–2$17.2M
InvestmentsLn 11–13$48.7M
Other assetsLn 15$1.3M
Total assetsLn 16$67.1M
LiabilitiesLn 26$6.4M
Net assetsLn 32$60.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$56.2M$17.2M
InvestmentsLn 11–13$48.7M
Total assetsLn 16$56.8M$67.1M
LiabilitiesLn 26$287K$6.4M
Net assetsLn 32$56.5M$60.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6.0M$6.0M
Grants to domestic individualsLn 2$198K$198K
Total functional expensesLn 25$6.2M$6.2M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $10.3M$6.2M$4.1M$60.7M 990 PDF
FY2023 $4.8M$1.4M$3.3M$56.5M 990 PDF
FY2022 $4.3M$1.3M$2.9M$53.2M 990 PDF
FY2021 $50.2M$20K$50.2M$50.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $10,279,442 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,842,857$7,649,886
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $915,577$2,629,475
I-11 Other revenuePrior year $0$81
I-12 Total revenuePrior year $4,758,434$10,279,442
I-13 Grants and similar amounts paidPrior year $1,381,859$6,200,317
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $64,868$0
I-18 Total expensesPrior year $1,446,727$6,200,317
I-19 Revenue less expensesPrior year $3,311,707$4,079,125
Part VI · Governance 30 of 33 board members independent, 4 to look at
VI-1a Voting members of the governing body33
VI-1b Independent voting members30
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $10,279,442 across 6 lines filed
VIII-1f All other contributions, gifts and grants$7,649,886
VIII-1h Total contributions, gifts and grants$7,649,886
VIII-3 Investment incomeExcluded from tax $2,531,065$2,531,065
VIII-7 Net gain or loss on sales of assetsExcluded from tax $98,410$98,410
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $81$81
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,629,556$10,279,442
Part IX · Statement of functional expenses $6,200,317 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $6,002,567$6,002,567
IX-2 Grants to domestic individualsPrograms $197,750$197,750
IX-25 Total functional expensesPrograms $6,200,317 · Management $0 · Fundraising $0$6,200,317
Part X · Balance sheet $67,096,461 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $5,242,595$12,142,679
X-2 Savings and temporary cash investmentsStart of year $50,945,049$5,016,368
X-11 Publicly traded securities$48,651,671
X-15 Other assetsStart of year $584,728$1,285,743
X-16 Total assetsStart of year $56,772,372$67,096,461
X-25 Other liabilitiesStart of year $286,837$6,398,635
X-26 Total liabilitiesStart of year $287,117$6,398,635
X-27 Net assets without donor restrictionsStart of year $1,125,679$9,229,221
X-28 Net assets with donor restrictionsStart of year $55,359,576$51,468,605
X-32 Total net assets or fund balancesStart of year $56,485,255$60,697,826
X-33 Total liabilities and net assetsStart of year $56,772,372$67,096,461
Part XI · Reconciliation of net assets $60,697,826 net assets at year end
XI-1 Total revenue$10,279,442
XI-2 Total expenses$6,200,317
XI-3 Revenue less expenses$4,079,125
XI-4 Net assets at start of year$56,485,255
XI-5 Net unrealized gains (losses) on investments$133,446
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$60,697,826

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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