1979 LEGACY CORP: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
1979 LEGACY CORP (EIN 95-3451280)
Tax period
2023-07-01 to 2024-06-30
Filed
2025-01-30
IRS object ID
202510309349300806
Schema version
2023v6.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-01-30T07:35:51-06:00ReturnTs
Tax Period End2024-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN351750664PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DAUBY O'CONNOR & ZALESKI LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1501 CONGRESSIONAL BLVD 300AddressLine1Txt
CityCARMELCityNm
State AbbreviationINStateAbbreviationCd
ZIP46032ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN953451280EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line11979 LEGACY CORPBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name Control1979BusinessNameControlTxt
Phone2134733030PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1231 EAST THIRD STREET G-106AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90013ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonGLENN SANADAPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone2134733030PhoneNum
Signature2025-01-25SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonROBERT J DOYLE JRPreparerPersonNm
PTINP02365765PTIN
Phone3178485700PhoneNum
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerGLENN SANADAPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1231 EAST THIRD STREET G-106AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90013ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$656,786GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1979FormationYr
Legal Domicile StateCALegalDomicileStateCd
Activity Or MissionITS MISSION IS TO PROVIDE AND FACILITATE BICULTURAL AND BILINGUAL SOCIAL SERVICES, REFERRALS, LOW INCOME HOUSING AND COMMUNITY DEVELOPMENT, AND ADVOCACY, PRIMARILY TO THE BROADER SOUTHERN CALIFORNIA JAPANESE AMERICAN COMMUNITY.ActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$485,210PYProgramServiceRevenueAmt
CY Program Service Revenue$610,555CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$66,419PYOtherRevenueAmt
CY Other Revenue$46,231CYOtherRevenueAmt
PY Total Revenue$551,629PYTotalRevenueAmt
CY Total Revenue$656,786CYTotalRevenueAmt
PY Grants And Similar Paid$440,000PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$560,000CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$200,840PYOtherExpensesAmt
CY Other Expenses$180,411CYOtherExpensesAmt
PY Total Expenses$640,840PYTotalExpensesAmt
CY Total Expenses$740,411CYTotalExpensesAmt
PY Revenues Less Expenses-$89,211PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$83,625CYRevenuesLessExpensesAmt
Total Assets BOY$1,261,196TotalAssetsBOYAmt
Total Assets EOY$1,412,027TotalAssetsEOYAmt
Total Liabilities BOY$5,481,465TotalLiabilitiesBOYAmt
Total Liabilities EOY$5,715,921TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY-$4,220,269NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY-$4,303,894NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionITS MISSION IS TO PROVIDE AND FACILITATE BICULTURAL AND BILINGUAL SOCIAL SERVICES, REFERRALS, LOW INCOME HOUSING AND COMMUNITY DEVELOPMENT, AND ADVOCACY, PRIMARILY TO THE BROADER SOUTHERN CALIFORNIA JAPANESE AMERICAN COMMUNITY (INCLUDING THOSE WHOSE ACTIVITIES INTERFACE WITH LITTLE TOKYO) DIRECTLY AND/OR THROUGH AFFILIATED ORGANIZATIONS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$157,877ExpenseAmt
DescPROVIDED TECHNICAL ASSISTANCE AND PREDEVELOPMENT FINANCING TO COMMUNITY-BASED ORGANIZATIONS THAT ARE DEVELOPING AFFORDABLE HOUSING IN SOUTHERN CALIFORNIA NEIGHBORHOODS.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$560,000ExpenseAmt
Grant$560,000GrantAmt
Revenue$656,786RevenueAmt
DescPROVIDED FINANCIAL SUPPORT TO LTSC COMMUNITY DEVELOPMENT CORPORATION'S SOCIAL SERVICES AND COMMUNITY DEVELOPMENT ACTIVITIES.Desc
FieldValueIRS element (for citing)
Total Program Service Expenses$717,877TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (1)ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BOMEE FAINBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2134733030PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1231 E THIRD STREET G104AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90013ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
AMY HONJIYO
PRESIDENT0.50Yes (X)Yes (X)$0$0$0
GLENN SANADA
SECRETARY0.50Yes (X)Yes (X)$0$0$0
RON HIRANO
TREASURER0.50Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescMANAGEMENT FEESDesc
Business531390BusinessCd
Total Revenue Column$610,555TotalRevenueColumnAmt
Related Or Exempt Func Income$610,555RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$610,555TotalProgramServiceRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescOPERATING INCOME FROMDesc
Business900099BusinessCd
Total Revenue Column$46,231TotalRevenueColumnAmt
Related Or Exempt Func Income$46,231RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$46,231OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$656,786TotalRevenueColumnAmt
Related Or Exempt Func Income$656,786RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$560,000TotalAmt
Program Services$560,000ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$6,145TotalAmt
Management And General$6,145ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$308TotalAmt
Management And General$308ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$15,881TotalAmt
Management And General$15,881ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
OPERATING INCOME FROM S$157,877$157,877
PERMITS & LICENSES$200$200

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$740,411TotalAmt
Program Services$717,877ProgramServicesAmt
Management And General$22,534ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$298,871BOYAmt
EOY$403,684EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY-$24,625BOYAmt
EOY-$24,525EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$24,925BOYAmt
EOY$24,925EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$5,296BOYAmt
EOY$5,292EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$12,030LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$7,712LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$4,627BOYAmt
EOY$4,318EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$952,102BOYAmt
EOY$998,333EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,261,196BOYAmt
EOY$1,412,027EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$240,000BOYAmt
EOY$320,000EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$5,241,465BOYAmt
EOY$5,395,921EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$5,481,465BOYAmt
EOY$5,715,921EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY-$4,220,269BOYAmt
EOY-$4,303,894EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY-$4,220,269BOYAmt
EOY-$4,303,894EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,261,196BOYAmt
EOY$1,412,027EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$83,625ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$530,570CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$376,241CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$409,760CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$485,210CurrentTaxYearMinus1YearAmt
Current Tax Year$610,555CurrentTaxYearAmt
Total$2,412,336TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$530,570CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$376,241CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$409,760CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$485,210CurrentTaxYearMinus1YearAmt
Current Tax Year$610,555CurrentTaxYearAmt
Total$2,412,336TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$2,412,336PublicSupportTotal509Amt

Other Income509 OtherIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$139CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$263CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$158CurrentTaxYearMinus2YearsAmt
Total$560TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$530,709CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$376,504CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$409,918CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$485,210CurrentTaxYearMinus1YearAmt
Current Tax Year$610,555CurrentTaxYearAmt
Total$2,412,896TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.99980PublicSupportCY509Pct
Public Support PY5090.99970PublicSupportPY509Pct
Investment Income CY0.00000InvestmentIncomeCYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$12,030OtherCostOrOtherBasisAmt
Depreciation$7,712DepreciationAmt
Book Value$4,318BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$4,318TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp

FieldValueIRS element (for citing)
DescINVESTMENT IN AFFILIATESDesc
Book Value$998,333BookValueAmt
Method ValuationFMethodValuationCd
FieldValueIRS element (for citing)
Total Book Value Securities$998,333TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescINVESTMENT IN SAN PEDRO FIRM BUILDIDesc
Amt$5,395,921Amt
FieldValueIRS element (for citing)
Total Liability$5,395,921TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$656,786TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$656,786RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$656,786TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$740,411TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$740,411ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$740,411TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE FINANCIAL STATEMENTS. EVEN THOUGH THE CORPORATION IS RECOGNIZED AS TAX EXEMPT, IT STILL MAY BE LIABLE FOR TAX ON ITS UNRELATED BUSINESS INCOME (UBI). THE CORPORATION EVALUATES UNCERTAIN TAX POSITIONS THROUGH ITS REVIEW OF THE SOURCES OF INCOME TO IDENTIFY UBI AND CERTAIN OTHER MATTERS, INCLUDING THOSE WHICH MAY AFFECT ITS TAX EXEMPT STATUS. THE EFFECT OF THE UNCERTAINTY WOULD BE RECORDED IF THE OUTCOME WAS CONSIDERED PROBABLE AND REASONABLY ESTIMABLE. AS OF JUNE 30, 2024 AND 2023, THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1LTSC COMMUNITY DEVELOPMENT CORPORATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1231 E THIRD STREET G106AddressLine1Txt
CityLOS ANGELESCityNm
State AbbreviationCAStateAbbreviationCd
ZIP90013ZIPCd
FieldValueIRS element (for citing)
Recipient EIN954444102RecipientEIN
IRC Section501(C)(3)IRCSectionDesc
Cash Grant$0CashGrantAmt
Non Cash Assistance$560,000NonCashAssistanceAmt
Valuation Method UsedBOOKValuationMethodUsedDesc
Purpose Of GrantPURPOSE WAS TO PROVIDE OPERATING SUPPORT FOR THE ORGANIZATION'S SOCIAL SERVICES AND COMMUNITY DEVELOPMENT PROGRAMSPurposeOfGrantTxt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
Explanation1979 LEGACY CORP.'S BOARD RECEIVES QUARTERLY REPORTS ON THE ACTIVITIES OF THE ORGANIZATION AND ON THE IMPACT THE FUNDS IT HAS CONTRIBUTED TO THE RECIPIENT AGENCY HAVE MADE.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11B1979 LEGACY CORP.'S OUTSIDE AUDITORS AND FINANCE STAFF PREPARE FORM 990. THE FORM IS THEN REVIEWED AND APPROVED BY THE ORGANIZATION'S CHIEF FINANCIAL OFFICER AND CHIEF EXECUTIVE OFFICER. THE FORM IS THEN SENT TO THE FULL BOARD BEFORE FILING.
FORM 990, PART VI, SECTION B, LINE 12C1979 LEGACY CORP. ("1979 LEGACY") REQUIRES ALL DIRECTORS TO ANNUALLY SIGN A STATEMENT AFFIRMING A) RECEIPT OF 1979 LEGACY'S CONFLICT OF INTEREST POLICY, B) UNDERSTANDING OF THE POLICY, AND C) AGREEMENT WITH THE POLICY. 1979 LEGACY'S CONFLICT OF INTEREST POLICY DESCRIBES HOW 1979 LEGACY WILL RESOLVE POSSIBLE CONFLICTS OF INTEREST.
FORM 990, PART VI, SECTION C, LINE 19SOME OR ALL OF THESE ITEMS MAY BE AVAILABLE AS PART OF A PUBLIC GRANT APPLICATION. HOWEVER, THERE IS NO PROCESS FOR MAKING THESE AVAILABLE TO THE PUBLIC.
PART XII, LINE 2COVERSIGHT OF AUDITING FUNCTION AN AUDIT COMMITTEE REVIEWS THE AUDIT RESULTS AND SELECTION OF THE AUDITING FIRM THROUGH A PERIODIC COMPETITIVE BIDDING PROCESS.

Schedule R IRS990ScheduleR

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtPredominant Income TypePredominantIncomeTypeTxtShare Of Total IncomeShareOfTotalIncomeAmtShare Of EOY AssetsShareOfEOYAssetsAmtDisproportionate AllocationsDisproportionateAllocationsIndGeneral Or Managing PartnerGeneralOrManagingPartnerIndOwnershipOwnershipPct
2449 HYPERION LLC
231 E THIRD STREET SUITE G106LOS ANGELESCA90013954707126RENTAL - REAL ESTATECALTSC COMMUNITY DEVELOPMENT CORPINVESTMENT$47,704$531,826000.50000
SAN PEDRO FIRM BUILDING LP
231 E THIRD STREET SUITE G106LOS ANGELESCA90013954246947RENTAL - REAL ESTATECALTSC COMMUNITY DEVELOPMENT CORPINVESTMENT-$157,877$462,178000.99000
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

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