Nonprofit · EIN 33-0497515
LAS PALMAS FOUNDATION
Tax-exempt · ENCINITAS, CA 92024
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 (amended) | $7,002,561 | $1,474,026 | $5,528,535 | $25,900,318 | $0 | $25,900,318 |
| December 31, 2023 | 990 (amended) | $12,410,401 | $1,366,718 | $11,043,683 | $20,372,700 | $917 | $20,371,783 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $6,967,112
- Investment income
- $404,641
- Net rental income
- -$369,192
- Other revenue
- -$369,192
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $940,140
- Other salaries and wages
- $172,345
- Salaries, compensation and benefits (total)
- $1,305,651
- Professional fundraising fees
- $0
- Accounting fees
- $12,641
- Occupancy
- $58,374
- Travel
- $4,312
- Depreciation
- $820
- Program services (functional)
- $1,294,147
- Management and general (functional)
- $179,879
Balance sheet and other
- Total assets, start of year
- $20,372,700
- Total assets, end of year
- $25,900,318
- Total liabilities, end of year
- $0
- Net assets, end of year
- $25,900,318
- Land, buildings and equipment
- $3,278
- Publicly traded securities
- $1,936,658
- Net assets without donor restrictions
- $25,900,318
- Gross receipts
- $7,371,753
- Employees
- 7
- Year formed
- 1991
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| JOSEPH MICHAELS | PRESIDENT Trustee or director, Officer | 15 | $526,418 | $0 |
| LESLIE MICHAELS | VICE PRESIDENT Officer | 30 | $126,560 | $72,153 |
| NOAMI PINES | VICE PRESIDENT Officer | 12 | $139,974 | $0 |
| RYAN MONTE | VICE PRESIDENT Officer | 20 | $138,320 | $0 |
| MARY WHITE | VICE PRESIDENT | 40 | $120,432 | $0 |
| VICTOR BARONE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| RANDY STEVENSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHERY AVERY | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH MICHAELS | PRESIDENT Trustee or director, Officer, Highest-paid employee | 40 | $0 |
| RYAN MONTE | VICE PRESIDENT Officer | 40 | $0 |
| LESLIE MICHAELS | VICE PRESIDENT Officer | 40 | $0 |
| SHERY AVERY | SECRETARY Trustee or director | 1 | $0 |
| RANDY STEVENSON | DIRECTOR Trustee or director | 1 | $0 |
| VICTOR BARONE | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 531 ENCINITAS BLVD STE 206, ENCINITAS, CA 92024-3773
- In care of
- % JOSEPH M MICHAELS PRES
- Principal officer (990 for 2024)
- JOSEPH M MICHAELS, 531 ENCINITAS BLVD STE 206, ENCINITAS, CA 92024
- Signed the 990
- JOSEPH MICHAELS, PRESIDENT
- Phone
- (760) 944-9050
- Return prepared by
- VICTOR J BARONE CPA
California records
California keeps its own records of charities and corporations. Search them by EIN 33-0497515 or by the name LAS PALMAS FOUNDATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
LAS NBSP;PALMAS NBSP;FOUNDATION NBSP;A NBSP;CALIFORNIA NBSP;NON-PROFIT NBSP;CORPORATIN NBSP;IS NBSP;DEDICATED NBSP;TO NBSP;ACQUIRE NBSP;DEVELOP NBSP;REHABILITATE NBSP;AND NBSP;SUPPORT NBSP;AFFORDABLE NBSP;HOUSING NBSP;THE NBSP;ORGANIZATION NBSP;WAS NBSP;CREATED NBSP;TO NBSP;INCREASE NBSP;AND NBSP;IMPROVE NBSP;HOUSING NBSP;FOR NBSP;LOW NBSP;AND NBSP;MODERATE NBSP;INCOME NBSP;FAMILIES NBSP;AND NBSP;INDIVIDUALS
Program accomplishments
- CO-MANAGING GENERAL PARTNER IN AMCAL ALGRE FUND LP WHICH OWNS AND OPERATES A 104 UNIT AFFORDABLE FAMILY COMPLEX IN IRVINE CALIFORNIA.Expenses $20,859 · revenue $14,758
- CO-MANAGING GENERAL PARTNER IN ALMADEN FAMILY HOUSING PARTNERS LP WHICH OWNS AND OPERATES A 220 UNIT AFFORDABLE FAMILY APARTMENT COMPLEX IN SAN JOSE CALIFORNIA. IT IS A BOND AND TAX CREDIT DEVELOPMENT.Expenses $20,859 · revenue $56,579
- CO-MANAGING GENERAL PARTNER IN CAMBRIA PSH LP WHICH OWNS AND OPERATES A 57 UNIT AFORDABLE FAMILY APARTMENT COMPLEX IN LOS ANGELES CALIFORNIA.Expenses $20,859 · revenue $8,197
- Expenses $20,859 · revenue $5,000
- Expenses $20,858 · revenue $40,000
- Expenses $20,859 · revenue $27,071
- Expenses $20,859 · revenue $18,393
- Expenses $20,859 · revenue $33,468
- Expenses $20,859 · revenue $23,780
- Expenses $20,858 · revenue $42,112
- Expenses $20,858 · revenue $39,462
- Expenses $20,858 · revenue $10,993
- Expenses $20,859 · revenue $2
- Expenses $20,858 · revenue $32,709
- Expenses $20,858 · revenue $12,794
- Expenses $20,859 · revenue $2
- Expenses $20,859
- Expenses $20,915 · revenue $86,177
- Expenses $20,858 · revenue $10,940
- Expenses $20,859 · revenue $13,630
- Expenses $20,858 · revenue $116,422
- Expenses $20,859 · revenue $15,598
- Expenses $20,859
- Expenses $20,858
- Expenses $20,859 · revenue $7,077
- Expenses $20,859 · revenue $18,300
- Expenses $20,859 · revenue $7
- Expenses $20,858 · revenue $16,283
- Expenses $20,858
- Expenses $20,858 · revenue $13,044
- Expenses $20,859 · revenue $6,994
- Expenses $20,858
- Expenses $20,859
- Expenses $20,858 · revenue $6
- Expenses $20,915 · revenue $13,661
- Expenses $20,859
- Expenses $20,859 · revenue $24,005
- Expenses $20,859 · revenue $14,082
- Expenses $20,859 · revenue $15,773
- Expenses $20,859 · revenue $4,785
- Expenses $20,859 · revenue $19,604
- Expenses $20,859 · revenue $13,539
- Expenses $20,859 · revenue $21,991
- Expenses $20,859 · revenue $1,258,516
- Expenses $20,859 · revenue $33,449
- Expenses $20,859 · revenue $12,443
- Expenses $20,859 · revenue $11,068
- Expenses $20,859 · revenue $11,287
- Expenses $20,859 · revenue $11,969
- Expenses $20,859 · revenue $26,459
- Expenses $20,859
- Expenses $20,858 · revenue $138,171
- Expenses $20,858 · revenue $39,138
- Expenses $20,858
- Expenses $20,858
- Expenses $20,858 · revenue $19
- Expenses $20,858 · revenue $39
- Expenses $20,858 · revenue $9,653
- Expenses $20,859
- Expenses $21,125 · revenue $4,372,534
- Expenses $21,125 · revenue $5
- Expenses $21,125 · revenue $2
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 33-0497515
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Unknown (Z99)
- Assets (IRS master file)
- $51,800,626
- Income (IRS master file)
- $7,371,753
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $7,002,561 | $1,474,026 | $25,900,318 | IRS |
| 990 | December 2023 | $12,410,401 | $1,366,718 | $20,372,700 | XML |
| 990 | December 2022 | $1,967,411 | $1,210,804 | $6,856,312 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 33-0497515).
Questions about LAS PALMAS FOUNDATION
- What is the EIN of LAS PALMAS FOUNDATION?
- The employer identification number (EIN) of LAS PALMAS FOUNDATION is 33-0497515.
- Is LAS PALMAS FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1992.
- Are donations to LAS PALMAS FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAS PALMAS FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAS PALMAS FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAS PALMAS FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LAS PALMAS FOUNDATION?
- The 990 for the year ended December 31, 2024 names JOSEPH M MICHAELS.
- Who are the officers and directors of LAS PALMAS FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 8 people; 5 received compensation from the organization, the highest $526,418 (JOSEPH MICHAELS, PRESIDENT).
- How much revenue does LAS PALMAS FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $7,002,561, expenses of $1,474,026 and total assets of $25,900,318 at year end.
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