Mercado LA Paloma Inc

Analysis

Mercado LA Paloma Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mercado LA Paloma Inc reported income of $727k and spending of $1.1m, spending 158% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $808k to $727k (-10.0%), an average of -2.6% a year. The sharpest change came in the year to December 2021, when income dropped by 38%. Over the whole period it spent 144% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Mercado LA Paloma Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Ibew 375 Electrical Joint Apprenticeship and Training Trust ($727k), Clergy United for the Transformation of Sandtown CDC ($728k) and Virginia Community Voice ($727k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. At year end it held assets of $6.3m against liabilities of $9.4m, net assets of -$3.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.