Nonprofit · EIN 47-1787000
MERCADO LA PALOMA INC
Tax-exempt · LOS ANGELES, CA 90007
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $798,099 | $1,411,103 | -$613,004 | $6,115,095 | $9,898,750 | -$3,783,655 |
| December 31, 2023 | 990 | $727,413 | $1,146,693 | -$419,280 | $6,257,906 | $9,428,557 | -$3,170,651 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $5,876
- Program service revenue
- $792,221
- Investment income
- $2
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $15,775
- Program services (functional)
- $1,385,639
- Management and general (functional)
- $15,775
- Fundraising (functional)
- $9,689
Balance sheet and other
- Total assets, start of year
- $6,257,906
- Total assets, end of year
- $6,115,095
- Total liabilities, end of year
- $9,898,750
- Net assets, end of year
- -$3,783,655
- Land, buildings and equipment
- $5,928,551
- Net assets without donor restrictions
- -$3,783,655
- Gross receipts
- $798,099
- Employees
- 0
- Year formed
- 2014
- 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 | Other / benefits |
|---|---|---|---|---|---|
| NANCY HALPERN IBRAHIM | President Officer | 0.15 | $0 | $119,865 | $25,298 |
| TAKAO SUZUKI | Chairman Trustee or director, Officer | 0.15 | $0 | $0 | $0 |
| TAFARAI BAYNE | Secretary Trustee or director, Officer | 0.15 | $0 | $0 | $0 |
| MARK BILLY | Director Trustee or director | 0.15 | $0 | $0 | $0 |
| JORGE NUNO | Director Trustee or director | 0.15 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| NANCY HALPERN IBRAHIM | President Officer | 0.15 | $0 | $120,816 | $8,325 |
| TAKAO SUZUKI | Chairman Trustee or director, Officer | 0.15 | $0 | $0 | $0 |
| TAFARAI BAYNE | Secretary Trustee or director, Officer | 0.15 | $0 | $0 | $0 |
| MARK BILLY | Director Trustee or director | 0.15 | $0 | $0 | $0 |
| JORGE NUNO | Director Trustee or director | 0.15 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3655 S GRAND AVE STE 280, LOS ANGELES, CA 90007-4377
- In care of
- % NANCY HALPERN IBRAHIM
- Principal officer (990 for 2024)
- NANCY HALPERN IBRAHIM, 3655 SOUTH GRAND AVENUE 280, LOS ANGELES, CA 90007
- Signed the 990
- NANCY HALPERN IBRAHIM, President
- Phone
- (213) 748-7285
- Return prepared by
- Boggeln & Company Inc
California records
California keeps its own records of charities and corporations. Search them by EIN 47-1787000 or by the name MERCADO LA PALOMA INC.
- 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
BY PROVIDING AFFORDABLE RETAIL OPPORTUNITIES, TECHNICAL ASSISTANCE, START-UP CAPITAL AND SUPPORT, MERCADO LA PALOMA SEEKS TO CREATE BUSINESS OWNERSHIP OPPORTUNITIES AND LIVING WAGE JOBS IN OUR COMMUNITY AND TO OFFER NEEDED GOODS, SERVICES, AND ESSENTIAL SERVICES TO RESIDENTS AND EMPLOYEES WHO RETAIN SPENDING IN OUR NEIGHBORHOOD. BY HOSTING ART EXHIBITS, MUSIC AND DANCE PERFORMANCES, SPOKEN WORD, FILM SHOWINGS AND OTHER EVENTS MERCADO LA PALOMA SEEKS TO SUPPORT AND SHOWCASE LOCAL ARTISTS, PROVIDE HIGH QUALITY ART AND CULTURAL OPPORTUNITIES FOR OUR COMMUNITY AND IMPART THE UNIQUE HERITAGE OF THE AREAS RESIDENTS THROUGH THE NON-PROFIT OFFICES AND OUR AFFORDABLE MEETING ROOM THAT HOSTS A WIDE RANGE OF COMMUNITY MEETINGS, EVENTS AND CLASSES. BY CREATING A WARM AND WELCOMING GATHERING SPACE FULL OF GUESTS FROM ALL WALKS OF LIFE AND OPEN TO THEIR IDEAS AND SUGGESTIONS, MERCADO LA PALOMA PROVIDES OPPORTUNITIES FOR EMPOWERMENT, ENJOYMENT AND CONNECTION STRENGTHENING EXISTING SOCIAL TIES AND CRE
Program accomplishments
- Operating and maintaining a neighborhood marketplace and office building to serve tenants of seven (7) restaurants, six (6) shops and nine (9) offices as well as a community conference room and day table. Providing tenants with low-cost opportunities to yield services for the low-income community.Expenses $1,385,639 · revenue $792,221
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
- 47-1787000
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S11)
- Assets (IRS master file)
- $6,115,095
- Income (IRS master file)
- $798,099
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $798,099 | $1,411,103 | $6,115,095 | XML |
| 990 | December 2023 | $727,413 | $1,146,693 | $6,257,906 | XML |
| 990 | December 2022 | $697,442 | $1,207,192 | $6,603,180 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 47-1787000).
Questions about MERCADO LA PALOMA INC
- What is the EIN of MERCADO LA PALOMA INC?
- The employer identification number (EIN) of MERCADO LA PALOMA INC is 47-1787000.
- Is MERCADO LA PALOMA INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to MERCADO LA PALOMA INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does MERCADO LA PALOMA INC 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 MERCADO LA PALOMA INC 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 MERCADO LA PALOMA INC 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 MERCADO LA PALOMA INC?
- The 990 for the year ended December 31, 2024 names NANCY HALPERN IBRAHIM.
- Who are the officers and directors of MERCADO LA PALOMA INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does MERCADO LA PALOMA INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $798,099, expenses of $1,411,103 and total assets of $6,115,095 at year end.
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All nonprofits in LOS ANGELES · California · Community improvement and capacity building