Mercado La Paloma Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
- Raising each dollar of donations cost 165 cents.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
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
- Income
- $798,099
- Spending
- $1.4 million
- Spent on programs
- 98%
- Reserves
- -82.6 months of spending
- Largest source of income
- fees for its services, 99%
- Employees
- 0
- Highest pay
- $145,163, president
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 15 out of 100. Higher than 1% of charities in its peer group (community improvement, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 162% of what it owns.
Living within its means
0 of 15Spending exceeded income by 77% of income.
Income trend
15 of 15Income rose 10% on the year before.
Spending floor
0 of 1598% of spending went to programs and raising each dollar of donations cost 165 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 88 out of 100. Higher than 72% of charities in its peer group (community improvement, $250k to $1m).
Independent board
18 of 254 of 4 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $1.4 million spent. 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.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 2015.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.