Galleria Palms Associates Inc in Los Angeles, California (CA)

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Galleria Palms Associates Inc
Employer Identification Number (EIN)522209380
Name of OrganizationGalleria Palms Associates Inc
Address360 E 2nd St Ste 600, Los Angeles, CA 90012-4270
SubsectionTitle Holding Co. for Pensions, etc.
Ruling Date12/1999
FoundationAll organizations except 501(c)(3)
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$41,146,193
Amount of Income$1,428,513
Form 990 Revenue Amount$1,428,513

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Financial snapshot ($)

Revenue for 2011

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$1,428,513
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$1,426,110
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$2,403
Income from investment of tax-exempt bond proceeds$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$959,946
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Balance Sheet (for 2011)
Total assets$41,146,193
Total liabilities$15,842,356
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$15,322,000
Unsecured notes and loans payable to unrelated third parties$0
Total net assets or fund balances$25,303,837
Retained earnings, endowment, accumulated income, or other funds$8,055,820
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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