Altamed Foundation FY2023 filing

Tax-deductible

Commerce, CA501(c)(3)Since 1987EIN 95-4090420

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.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
466 mo
of spending, in cash
Looks good: 466.1 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
$287K
0.5% of total assets
Looks good: liabilities are 0% 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
$4.8M
+11% vs prior year
Spent
$1.4M
To programs
100%
Net assets
$56.5M
By yearFY2021–FY2024
Revenue
$4.8M
FY2023▲ +11%
Revenue by fiscal year
FY2021$50.2M
FY2022$4.3M
FY2023$4.8M
FY2024$10.3M
Expenses
$1.4M
FY2023▲ +8%
Expenses by fiscal year
FY2021$20K
FY2022$1.3M
FY2023$1.4M
FY2024$6.2M
Net assets
$56.5M
FY2023▲ +6%
Net assets by fiscal year
FY2021$50.2M
FY2022$53.2M
FY2023$56.5M
FY2024$60.7M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CAltamed Foundation
EINHdr · item D95-4090420
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFDec 1987
Year of formationHdr · item L1987
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CCommerce, CA
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jaltamedfoundation.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$1.4M
Total functional expensesLn 25$1.4M

Finances

Money in and out, what it owns and owes

Net inflow
+70%
revenue over expenses, this year
Pass-through gifts
81%
of revenue from contributions
Program spending
100%
of expenses reach stated programs

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$56.8M
FY2023▲ +6%
Total assets by fiscal year
FY2021$50.2M
FY2022$53.4M
FY2023$56.8M
FY2024$67.1M
Total liabilities
$287K
FY2023▲ +43%
Total liabilities by fiscal year
FY2021$0
FY2022$201K
FY2023$287K
FY2024$6.4M
Revenue less expensesPt I · Ln 19$3.3M
Total assetsPt X · Ln 16$56.8M
Spent on programsPt IX · col B100%
Voting members of governing bodyPt I · Ln 333
Independent voting membersPt I · Ln 430

Balance Sheet

Part X · end of year
CashLn 1$56.2M
Total assetsLn 16$56.8M
Total liabilitiesLn 26$287K
Total net assetsLn 32$56.5M
Months of cash on handcomputed466.1

Statement of Revenue

Part VIII
Contributions & grants$3.8M · 81%
Investment income$916K · 19%
Contributions & grants81%$3.8M
Investment income19%$916K
Total revenueLn 12$4.8M

Money in detail

Form 990 · FY2023 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $56.2M · Operating expenses (Pt IX) $1.4M · Less non-cash grants $20K · Cash operating expenses/yr $1.4M
472.7 months
Where the money goes
Program services
Program services $1.4M · Total expenses $1.4M
100%
Management & General
Management & general $0 · Total expenses $1.4M
0%
Fundraising
Fundraising $0 · Total expenses $1.4M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $19.5M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $3.8M · Total revenue $4.8M
81%
Government reliance
Government grants — · Total revenue $4.8M
—
Earned-income share
Program service revenue $0 · Total revenue $4.8M
0%
Investment reliance
Investment income $916K · Total revenue $4.8M
+19%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.4M
0%
Growth & trend
Revenue change from last year
This year $4.8M · Prior year $4.3M
+11%
Net assets change over the year
End of year $56.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $4.8M · Expenses $1.4M
+70%
Debts compared to what it owns
Total liabilities — · Total assets $56.8M
—
Net assets compared to what it owns
Net assets $56.5M · Total assets $56.8M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $56.8M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Alejandra Velazquez · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $1.4M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $1.4M
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Spent on programs 100%——
Spent on management, % of spending 0%——
Fundraising cost, % of gifts 0%——
Revenue growth 11%——

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

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Board Member(until 2/13/23)
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member(until 6/20/23)
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Altamed Foundation executive salaries →

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Governance & Policies

Part VI
  • 33Voting board membersPt VI · Ln 1a
  • 30Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

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

Provided by the organization

This section is blank until Altamed Foundation claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $1.3M of program spending, described in the organization's own filed words · FY2023.
01

Programs PILLAR.THE altamed foundation cultivates several pipeline programs that allow future generations to thrive outside of our clinics. Programs such as the escalera program offers 50 students to become the next generation of health care leaders through, individual counseling, career planning resources, networking opportunities…

$574Kprogram expense
02

Equity PILLAR.THE altamed foundation achieves good health beyond the care our patients receive in our health centers, and addresses disparities in access to care. When patients are supported by doctors and nurses who understand them, as well as have access to healthy food, a roof over the heads, a living wage, and a place to turn to when…

$440Kprogram expense
03

Health PILLAR.THE altamed foundation keeps families healthy and happy through primary care practices, such as restoring and improving rates of basic screenings and chronic disease management and programs that target the unique needs of women and children.

$286Kprogram expense

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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
See all 13 funders →
Grants paid · 5 grants · $7.8M · 2022–2024
Unitemized GrantFY2024$197,750
Unitemized GrantFY2023$146,957
Unitemized GrantFY2022$201,322

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest $10.3M$6.2M+116% 990 PDF
FY2023 Viewing $4.8M$1.4M+11% 990 PDF
FY2022 $4.3M$1.3M-91% 990 PDF
FY2021 $50.2M$20K 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

Full filing: Form 990 for FY2023

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $4,758,434 across 5 lines filed
VIII-1f All other contributions, gifts and grants$3,842,857
VIII-1g Noncash contributions (included above)$20,339
VIII-1h Total contributions, gifts and grants$3,842,857
VIII-3 Investment incomeExcluded from tax $915,577$915,577
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $915,577$4,758,434
Part IX · Statement of functional expenses $1,446,727 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $1,234,902$1,234,902
IX-2 Grants to domestic individualsPrograms $146,957$146,957
IX-24 Other expenses (24a–d)Programs $64,868$64,868
IX-25 Total functional expensesPrograms $1,446,727 · Management $0 · Fundraising $0$1,446,727
Part X · Balance sheet $56,772,372 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $2,845,506$5,242,595
X-2 Savings and temporary cash investments$50,945,049
X-15 Other assetsStart of year $50,530,128$584,728
X-16 Total assetsStart of year $53,375,634$56,772,372
X-17 Accounts payable and accrued expensesStart of year $0$280
X-25 Other liabilitiesStart of year $201,322$286,837
X-26 Total liabilitiesStart of year $201,322$287,117
X-27 Net assets without donor restrictions$1,125,679
X-28 Net assets with donor restrictionsStart of year $53,174,312$55,359,576
X-32 Total net assets or fund balancesStart of year $53,174,312$56,485,255
X-33 Total liabilities and net assetsStart of year $53,375,634$56,772,372
Part XI · Reconciliation of net assets $56,485,255 net assets at year end
XI-1 Total revenue$4,758,434
XI-2 Total expenses$1,446,727
XI-3 Revenue less expenses$3,311,707
XI-4 Net assets at start of year$53,174,312
XI-5 Net unrealized gains (losses) on investments−$764
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$56,485,255

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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