2014-02-15T15:47:43-06:00 2013-06-30 951777440 GREEN HASSON & JANKS LLP 10990 WILSHIRE BLVD 16TH FLOOR LOS ANGELES CA 900243929 990 2012-07-01 264142930 RESTORE NEIGHBORHOODS LA INC REST 2132701720 315 W 9TH STREET NO 501 LOS ANGELES CA 90015 JOHN PERFITT 2132701720 2014-02-11 1 RICHARD L RUVELSON P00234075 3108731600 2012 2015-11-30 17:44:51Z JOHN PERFITT 315 W 9TH STREET NO 501 LOS ANGELES CA 90015 45077948 0 X HTTP://RESTORENEIGHBORHOODSLA.ORG X 2008 CA TO STABILIZE NEIGHBORHOODS BY PLACING FORECLOSED AND VACANT DWELLING UNITS BACK IN USE. 8 8 34 0 0 0 3605524 3779055 14168453 41293966 0 0 -25816 4927 17748161 45077948 0 0 0 0 2238340 2436993 0 0 6589 15681461 42964401 17919801 45401394 -171640 -323446 62918185 57863415 62896546 58165222 21639 -301807 X REDUCE BLIGHT, AND CREATING AFFORDABLE HOMEOWNERSHIP AND RENTAL OPPORTUNITIES IN NEIGHBORHOODS THROUGHOUT THE CITY OF LOS ANGELES BY PURCHASING, REHABILITATING, SELLING AND/OR DISPOSING OF RESIDENTIAL PROPERTIES. 0 0 43870045 41293966 HOME OWNERSHIP REHABILITATION PROGRAM:SINGLE FAMILY HOMES RESTORE NEIGHBORHOODS LA (RNLA) ACQUIRES FORECLOSED SINGLE FAMILY HOMES IN BULK FROM THE NATIONAL COMMUNITY STABILIZATION TRUST AND OTHER SERVICING COMPANIES, REHABILITATES THEM AND SELLS THEM TO ELIGIBLE HOMEBUYERS WHOSE INCOME DO NOT EXCEED 120% OF AMI. THE HOMES WILL BE REHABILITATED TO MEET CODE REQUIREMENTS, ADDRESS ALL MAJOR BUILDING DEFICIENCIES, AND INCORPORATE ENVIRONMENTALLY RESPONSIBLE "GREEN" BUILDING COMPONENTS. SOME PROPERTIES MAY BE "RIGHT SIZED" WITH THE ADDITION OF A NEW BEDROOM AND BATHROOM TO BETTER ACCOMMODATE THE NEEDS OF LARGER HOUSEHOLDS. AS REHABILITATION IS NEARING COMPLETION, RNLA WILL LIST ALL HOMES FOR SALE ON OUR WEBSITE UNDER THE PROPERTIES SECTION.MULTI-UNIT PROPERTIES RNLA WILL ALSO PURCHASE FORECLOSED AND ABANDONED 2-4 MULTI-UNIT, AND 5+ UNIT RENTAL PROPERTIES AND OFFER THEM, THROUGH A COMPETITIVE PROCESS, FOR OWNERSHIP AND REHABILITATION BY ORGANIZATIONS WITH DEMONSTRATED CAPACITY AND EXPERIENCE WITH AFFORDABLE HOUSING DEVELOPMENT AND MANAGEMENT. RNLA WILL GROUP THESE MULTI FAMILY PROPERTIES INTO CLUSTERS WITH SOME GEOGRAPHIC PROXIMITY IN ORDER TO ACHIEVE ECONOMIES OF SCALE WITH THE REHABILITATION AND LONG TERM OPERATION OF THE RENTAL PROPERTIES. RNLA WILL FULLY COMPLY WITH THE CITY OF LOS ANGELES RENT STABILIZATION ORDINANCE WHICH PROTECTS TENANTS FROM EVICTION AS A RESULT OF A FORECLOSURE. IT IS ANTICIPATED THAT MANY RNLA PURCHASED MULTI-FAMILY PROPERTIES WILL BE PARTIALLY OR FULLY OCCUPIED. IF TEMPORARY RELOCATION IS NECESSARY TO FACILITATE A TIMELY REHABILITATION OF THE PROPERTY, RNLA WILL WORK WITH EXISTING TENANTS TO MINIMIZE DISRUPTION. 43870045 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 32 0 34 1 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X KAREN RINGER 2132701726 315 W 9TH STREET STE 501 LOS ANGELES CA 90015 PAUL FREESE 1.00 X 0 0 0 VERONICA PADILLA 1.00 X 0 0 0 CYNTHIA SANCHEZ 1.00 X 0 0 0 TOM DE SIMONE 1.00 X 0 0 0 EARL COOPER II 1.00 X 0 0 0 MARVA SIMTH BATTLE-BEY 1.00 X 0 0 0 JEFFREY SCHAFFER 2.00 X X 0 0 0 TONY SALAZAR 1.00 X X 0 0 0 ALICIA LARA 1.00 X X 0 0 0 JOHN PERFITT 40.00 X 166823 0 23527 TIM PIASKY 40.00 X 130321 0 17128 297144 0 40655 2 0 1 0 VESTA MANAGEMENT INC PO BOX 922 SANTA MONICA CA 90406 PROPERTY MANAGEMENT 467098 BARR & CLARK 12684 HOOVER ST GARDEN GROVE CA 92841 ENVIRONMENTAL TESTING 144210 ACCOUNTEMPS PO BOX 743295 LOS ANGELES CA 90074 STAFFING 140303 3 3739651 39404 3779055 REAL ESTATE SALES 531390 41293966 41293966 41293966 MISCELLANEOUS INCOME 900099 4927 4927 4927 45077948 41293966 0 4927 192130 137245 54885 1841291 1302886 538405 29076 20192 8884 230479 182110 48369 144017 105823 38194 41613 29476 12137 222615 222615 343970 126789 210592 6589 18104 13754 4350 147127 73884 73243 122719 92447 30272 188749 128954 59795 41925 30766 11159 2493 1815 678 48033 48033 141240 141240 28689 13478 15211 PURCHASED PROP. COSTS 41290000 41290000 CONSTRUCTION COSTS 192576 192576 UNPURCHASED PROP. COSTS 64959 64959 69589 62891 6698 45401394 43870045 1524760 6589 382223 259801 16249320 27899714 45955213 29535738 2057 476287 341961 270128 134326 61301 31779 62918185 57863415 616973 516353 465469 447769 70000 61814104 57131100 62896546 58165222 X 21639 -301807 21639 -301807 62918185 57863415 -323446 0 X X 0 1 X 1 1 1 X 409330 2037549 3605524 3779055 9831458 409330 2037549 3605524 3779055 9831458 9831458 213523 236768 450291 8873 613 4927 14413 10296162 57680441 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13258 9850 3408 360732 275682 85050 102297 56429 45868 134326 DUE TO LAHD 57131100 57131100 45077948 0 45077948 0 45077948 45401394 0 45401394 0 45401394 X X X 0 0 0 0 0 0 0 0 0 JOHN PERFITT 166823 0 0 0 0 0 5100 0 18427 0 190350 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL QUESTIONNAIRES ARE GIVEN TO THE BOARD AND COMPLETED VERSIONS ARE KEPT ON RECORD. THE DEPUTY DIRECTOR IS REPONSIBLE FOR ENSURING ALL QUESTIONNAIRES HAVE BEEN COMPLETED. PROSPECTIVE BOARD MEMBERS ARE BRIEFED ON THE CONFLICT OF INTEREST POLICY AS PART OF THE BOARD RECRUITMENT PROCESS. BOARD MEMBERS ARE INVITED TO DISCUSS POTENTIAL OR ACTUAL CONFLICTS WITH FELLOW BOARD MEMBERS AT BOARD MEETINGS. THE BOARD WOULD DECIDE THE BEST COURSE OF ACTION. THAT DECISION WOULD BE RECORDED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE PERSONNEL COMMITTEE REVIEWS WAGE AND BENEFIT COMPARABILITY DATA COMPILED USING INFORMATION FROM OTHER NON PROFIT ORGANIZATIONS WITH SIMILAR SIZED BUDGETS AND IN SIMILAR URBAN LOCATIONS TO DETERMINE THE RESONABLENESS OF THE EXECUTIVE DIRECTOR'S COMPENSATION. THE PERSONNEL COMMITTEE PRESENTS ITS RECOMMENDATION TO THE BOARD. THE BOARD THEN APPROVES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15B: THERE WERE NO OTHER OFFICERS OR KEY EMPLOYEES WHO RECEIVED COMPENSATION, THEREFORE THIS QUESTION IS NOT APPLICABLE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS AND REPORTING FORM 990, PART XII, LINE 2C NO CHANGES WERE MADE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR, AS COMPARED TO THE PRIOR TAX YEAR. INVENTORIES FOR SALE OR USE FORM 990, PART X - BALANCE SHEET, LINE 8 THE INVENTORY LISTED ON THE FORM 990 IS NOT FOR CONSUMPTION BY THE ORGANIZATION. THE INVENTORY LISTED REPRESENTS COSTS THAT RELATE TO LAND DEVELOPMENT AND HOUSING REHABILITATION PROJECTS THAT ARE CAPITALIZED. THESE ARE RELATED TO THE DEVELOPMENT/REHABILITATION OF PROPERTIES WHICH WILL BE EVENTUALLY SOLD DIRECTLY TO LOW AND MODERATE INCOME FAMILIES OR DISPOSED OF TO OWNER/OPERATORS OF MULTI FAMILY PROPERTIES WHO WILL MAINTAIN AND MANAGE THE PROPERTY AS AFFORDABLE RENTAL HOUSING FOR LOW AND MODERATE INCOME FAMILIES OF THE CITY OF LOS ANGELES.