2020-08-24T11:26:19-05:00 2019-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2019-01-01 954444102 LTSC COMMUNITY DEVELOPMENT CORPORATION LTSC 2134733030 231 E THIRD STREET NO G106 LOS ANGELES CA 90013 ERICH NAKANO OFFICER 2134733030 2020-07-08 1 NANCY MORTON P00370064 3178485700 97.78.195.178 2020-07-08 06:47:30 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B3EBF3017A57F104736FAF32BB5C8E71C1A5525A 2019 2020-11-19 02:30:22Z LTSC CDCLITTLE TOKYO SERVICE CTR ERICH NAKANO 231 EAST THIRD ST G106 LOS ANGELES CA 90013 15795153 0 X WWW.LTSC.ORG X 1993 CA THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE A COMPREHENSIVE ARRAY OF SOCIAL WELFARE AND COMMUNITY DEVELOPMENT ACTIVITIES TO ASSIST LOW INCOME PERSONS AND OTHERS IN NEED. 25 25 140 0 0 0 11173851 12425044 2319057 2404722 0 0 1025239 662038 14518147 15491804 0 0 0 0 6089632 6334639 0 0 806158 5678282 4056801 11767914 10391440 2750233 5100364 34168200 37349114 15148597 13003331 19019603 24345783 X THE PURPOSE OF THE ORGANIZATION IS TO PLAN, PROMOTE AND SUPPORT COMMUNITY DEVELOPMENT ACTIVITIES WHICH PRESERVE THE JAPANESE AMERICAN AND MULTI-ETHNIC CULTURE AND HISTORY OF LITTLE TOKYO AND CONTRIBUTE TO ITS PHYSICAL, SOCIAL, CULTURAL AND ECONOMIC REVITALIZATION; TO SERVE AS A RESOURCE FOR SIMILAR COMMUNITY ECONOMIC DEVELOPMENT EFFORTS IN OTHER LOW-INCOME COMMUNITIES, PARTICULARLY ASIAN AND PACIFIC ISLANDER COMMUNITIES; AND TO DEVELOP, PROVIDE AND MAINTAIN AFFORDABLE HOUSING AND HOUSING-RELATED SERVICES IN THE LITTLE TOKYO AREA AND IN THE GREATER LOS ANGELES METROPOLITAN AREA FOR THE BENEFIT OF LOW TO MODERATE INCOME PEOPLE. 0 0 2540869 1695911 PROGRAM COSTS OF VARIOUS PROGRAMS IN LTSC CDC'S MISSION OF PROMOTING COMMUNITY ECONOMIC DEVELOPMENT THROUGH DEVELOPING, PROVIDING AND MAINTAINING AFFORDABLE HOUSING; PROMOTING CULTURAL AND HISTORICAL PRESERVATION OF THE LITTLE TOKYO NEIGHBORHOOD IN LOS ANGELES; PROVIDING WIRELESS INTERNET SERVICES AND ACCESS TO TECHNOLOGY; ADMINISTERING A MULTI-LINGUAL SMALL BUSINESS ASSISTANCE PROGRAM IN PARTNERSHIP WITH FOUR OTHER COMMUNITY AGENCIES. 2161024 44454 ADMINISTERED SUBSIDIZED, HIGH QUALITY CHILD CARE FOR PRIMARILY LOW-INCOME FAMILIES WITH CHILDREN AGES SIX WEEKS TO FIVE YEARS OLD. THE FAMILY CHILD CARE PROGRAM INVOLVES HOME-BASED PROVIDERS WHO SERVICE NEWBORNS AND TODDLERS, AND ANGELINA PRESCHOOL SERVICES THREE TO FIVE YEAR-OLDS. THE PROGRAMS ARE DEVELOPMENTAL, CHILD-ORIENTED, PARENT-FRIENDLY AND STAFFED BY SKILLED PROFESSIONALS. 3668982 953357 SERVICE PROGRAM COSTS OF OTHER, NON-CHILDCARE, RELATED PROGRAMS, INCLUDED PROVIDING CULTURALLY-SENSITIVE CASE MANAGEMENT, COUNSELING, INFORMATION AND REFERRAL ASSISTANCE TO YOUTH-SENIOR CLIENTS IN A MULTITUDE OF LANGUAGES, INCLUDING ENGLISH, JAPANESE, KOREAN, CHINESE, AND SPANISH; PROVIDING YOUTH-MENTORING PROGRAMS; CONDUCTING OUTREACH TO API COMMUNITIES TO INCREASE AWARENESS AND TO DIVERSIFY THE DONOR REGISTRY OF THE NATIONAL MARROW DONOR PROGRAM (NMDP), THEREBY IMPROVING ACCESS TO MARROW TRANSPLANTS FOR CANCER PATIENTS, ALSO PROVIDED PATIENT SUPPORT AND SUPPORT OF PATIENT FAMILIES. 8370875 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 96 0 1 140 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X BOMEE FAIN 2134733030 231 E THIRD STREET NO G106 LOS ANGELES CA 90013 ALAN NISHIO BOARD OF GOVERNORS CHAIR 2.50 0.00 X X 0 0 0 DAVID MITANI VICE PRESIDENT 1.50 0.00 X X 0 0 0 TAD YOSHIMURA TREASURER 1.50 0.00 X X 0 0 0 KATHY MASAOKA SECRETARY 1.50 0.00 X X 0 0 0 CLAIRE KITAYAMA BOARD MEMBER 0.80 0.00 X 0 0 0 DICK KAKU PRESIDENT 0.80 0.00 X 0 0 0 GEORGE TANAKA BOARD MEMBER 0.80 0.00 X 0 0 0 TRISHA MURAKAWA BOARD MEMBER 0.80 0.00 X 0 0 0 DAVID UYEHARA BOARD MEMBER 0.80 0.00 X 0 0 0 DEAN TOJI BOARD MEMBER 0.80 0.00 X 0 0 0 AKEMI ARAKAKI BOARD MEMBER 0.80 0.00 X 0 0 0 KELSEY IINO BOARD MEMBER 0.80 0.00 X 0 0 0 KEITH TERASAKI BOARD MEMBER 0.80 0.00 X 0 0 0 MIGUEL NUNEZ BOARD MEMBER 0.80 0.00 X 0 0 0 DENNIS ARGUELLES BOARD MEMBER 0.80 0.00 X 0 0 0 MARK USUI BOARD MEMBER 0.80 0.00 X 0 0 0 JESSICA CHANG BOARD MEMBER 0.80 0.00 X 0 0 0 EDWIN TAKAHASHI BOARD MEMBER 0.80 0.00 X 0 0 0 VY NGUYEN BOARD MEMBER 0.80 0.00 X 0 0 0 JEFF SCHAFFER BOARD MEMBER 0.80 0.00 X 0 0 0 EUGENE ENG BOARD MEMBER 0.80 0.00 X 0 0 0 KIRA TESHIMA BOARD MEMBER 0.80 0.00 X 0 0 0 KAREN UMEMOTO BOARD MEMBER 0.80 0.00 X 0 0 0 KIRK SASAKI BOARD MEMBER 0.80 0.00 X 0 0 0 KELLY TAKASU BOARD MEMBER 0.80 0.00 X 0 0 0 DEAN MATSUBAYASHI FORMER EXECUTIVE DIRECTOR 40.00 0.00 X 90778 0 0 ERICH NAKANO EXECUTIVE DIRECTOR 40.00 0.00 X 118837 0 0 BOMEE FAIN CFO 40.00 0.00 X 101949 0 0 TAKAO SUZUKI DIRECTOR, COMMUNITY ECONOMIC DEVELOPMENT 40.00 0.00 X 121719 0 0 ICHIRO M MURASE OFFICER 40.00 0.00 X 113922 0 0 547205 0 0 4 0 0 0 0 7832928 4592116 12425044 SERVICE FEE 531110 1363089 1363089 REAL ESTATE INCOME 531110 575061 575061 ASSET & PROPERTY MANAGEMENT 531110 268018 268018 PARTNERSHIP FEES 900099 198554 198554 2404722 676387 303349 373038 373038 OPERATING LOSS FROM INVESTMENT 900099 204664 204664 OTHER REVENUE - MISC. 900099 84336 84336 289000 15491804 2693722 0 373038 6334639 4704553 1026355 603731 134939 101262 32477 1200 26880 26880 48549 39321 5067 4161 120478 81113 20769 18596 24439 12818 199 11422 130084 80328 12561 37195 531278 445810 13665 71803 67941 63690 4206 45 71443 53769 14851 2823 569431 569097 334 29425 27759 1666 40021 35893 -923 5051 PROGRAM EXPENSES 1674233 1674233 0 0 SUPPLIES 264414 233990 10600 19824 FACILITY OPERATIONS 203758 184178 19580 0 OTHER EXPENSES 119488 63061 26120 30307 10391440 8370875 1214407 806158 5929805 3910433 1853650 2112045 725485 784851 289217 200699 35669 43131 4765914 911061 3812180 3854853 1517597 1636233 3134000 3004615 16870597 21802254 34168200 37349114 1318827 367098 1500 191849 12848373 11191055 979897 1253329 15148597 13003331 X 17397401 23897405 1622202 448378 19019603 24345783 34168200 37349114 X 5100364 377623 62242 -214049 X X 0 1 X 1 1 1 X 8198789 8251458 11511938 12886706 13788133 54637024 933638 660544 1285385 1116203 1246297 5242067 9132427 8912002 12797323 14002909 15034430 59879091 0 0 0 59879091 67998 12665 10282 49888 84336 225169 9200425 8924667 12807605 14052797 15118766 60104260 0.99630 0.99700 0.00000 0.00050 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 225749 225749 225749 225749 248775 248775 226515 226515 222034 222034 1.00000 1 0 3219625 3219625 873337 331831 541506 672952 579230 93722 3854853 INVESTMENT IN AFFILIATES 3004615 C 3004615 DUE FROM AFFILIATES 20613196 CONSTRUCTION IN PROGRESS 937003 OTHER ASSETS 252055 21802254 INTEREST PAYABLE 679432 ACCRUED PAYROLL 538885 TENANT SECURITY DEPOSITS 24957 CHILDCARE RESERVE LIABILITY 10055 1253329 X 22269043 377623 62242 6630644 7070509 15198534 293270 293270 15491804 26456091 16064651 16064651 10391440 0 10391440 PART X, LINE 2: THE 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 ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED BY THE APPLICABLE TAX AUTHORITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: REAL ESTATE INCOME FROM SUBSIDIARIES 6,327,295. FUNDRAISING EXPENSE 303,349. PART XI, LINE 4B - OTHER ADJUSTMENTS: ASSET & PROPERTY MANAGEMENT INCOME 22,000. PARTNERSHIP FEES 156,509. OPERATING LOSS FROM INVESTMENT IN AFFILIATES -9,385. TAX/BOOK DIFFERENCE-OPERATING GAIN/LOSS FROM INVESTMENT IN AFFILIATES 214,049. OTHER REVENUE -89,903. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM SUBSIDIARIES 15,761,302. FUNDRAISING EXPENSE 303,349. PART V, LINE 4: EXPLANATION: LTSC'S ENDOWMENT WAS ESTABLISHED TO PROVIDE ONGOING SUPPORT FOR THE ORGANIZATION. DISTRIBUTIONS FROM THE FUND ARE EXCLUSIVELY FOR GENERAL CHARITABLE USES AND PURPOSES OF LTSC. X X X X X X X 0 CA SAKE 270761 270761 9401 10533 77636 A3M GALA 133130 133130 103 4500 12073 6160 1 272496 272496 47870 58535 9632 66906 676387 676387 103 47870 72436 32238 150702 303349 373038 FORM 990, PART VI, SECTION B, LINE 11B LTSC COMMUNITY DEVELOPMENT CORP. OUTSIDE AUDITORS & FINANCE STAFF PREPARE FORM 990. THE FORM IS THEN REVIEWED AND APPROVED BY THE ORGANIZATION CEO & CFO. THE FORM IS THEN SENT TO THE FULL BOARD FOR REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C LTSC COMMUNITY DEVELOPMENT CORP. REQUIRES ALL EMPLOYEES TO DISCLOSE, AT LEAST ANNUALLY, ALL SOURCES OF INCOME FROM COMPENSATION OR FROM OWNERSHIP OF EVERY OUTSIDE ENTITY THAT (A) SOLD, SUPPLIED OR PROVIDED SERVICES (B) OPERATED A COMPETING ENTERPRISE OR (C)PROVIDED GOODS OR SERVICES TO LTSC COMMUNITY DEVELOPMENT CORP. IN THE LAST SIX MONTHS. LTSC COMMUNITY DEVELOPMENT CORP. ALSO REQUIRES BOARD OF DIRECTORS TO ANNUALLY SIGN A STATEMENT AFFIRMING (A) RECEIPT OF LTSC COMMUNITY DEVELOPMENT CORP. CONFLICT OF INTEREST POLICY (B) UNDERSTANDING OF THE POLICY AND (C) AGREEMENT WITH THE POLICY. LTSC COMMUNITY DEVELOPMENT CORP. CONFLICT OF INTEREST POLICY DESCRIBES HOW LTSC COMMUNITY DEVELOPMENT CORP. WILL RESOLVE POSSIBLE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWED LTSC COMMUNITY DEVELOPMENT CORP. PRESIDENT'S AND CHIEF FINANCIAL OFFICER'S COMPENSATION IN 2019. THE BOARD REVIEWED DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES. THE OCCURRENCE OF THESE DELIBERATIONS ARE NOTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 SOME OR ALL OF THESE ITEMS MAYBE AVAILABLE AS PART OF A PUBLIC GRANT APPLICATION. HOWEVER, THERE IS NO PROCESS FOR MAKING THESE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: TAX/BOOK DIFFERENCE ON OPERATING GAIN FROM INVESTMENT IN AFFILIATES -214,049. FORM 990, PART XII, LINCE 2C THERE HAS BEEN NO CHANGE TO THE OVERSIGHT OF THE AUDIT FUNCTION FROM THE PRIOR YEAR. ASIAN PACIFIC ISLANDER SMALL BUSINESS PROGRAM INC 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 200726638 COMMUNITY DEVELOPMENT CA 501(C)(3) LINE 12B, II LTSC COMMUNITY DEVELOPMENT CORP 0 A3M INC 244 S SAN PEDRO ST STE 503 LOS ANGELES CA 900120016 811223905 COMMUNITY DEVELOPMENT CA 501(C)(3) LINE 12B, II LTSC COMMUNITY DEVELOPMENT CORP 0 2449 HYPERION LLC 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 954707126 RENTAL REAL ESTATE CA RELATED 68170 748404 0 0 0.50000 SAN PEDRO FIRM BUILDING LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 954246947 RENTAL REAL ESTATE CA RELATED -13267 162215 0 1 0.01000 LPE LIMITED PARTNERSHIP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 954442491 RENTAL REAL ESTATE CA RELATED -2729 561308 0 1 0.01000 OLD UNION CHURCH GENRAL 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 954589987 RENTAL REAL ESTATE CA RELATED -56010 959105 0 1 0.50000 FAR EAST BUILDING LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 954888608 RENTAL REAL ESTATE CA RELATED -69814 166956 0 1 0.00010 MENLO FAMILY HOUSING LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 244673989 RENTAL REAL ESTATE CA RELATED -26 41245 0 1 0.00050 ANGELINA ASSOCIATES LP 535 WEST COLORADO STREET SUITE 300 GLENDALE CA 91204 954501565 RENTAL REAL ESTATE CA RELATED -176 132603 0 1 0.00050 LDK SENIOR APARTMENTS LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 264789705 RENTAL REAL ESTATE CA RELATED -32 205433 0 1 0.00010 36TH AND BROADWAY LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 263582955 RENTAL REAL ESTATE CA RELATED -130763 5008246 0 1 0.00050 PHD APARTMENTS LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 271619379 RENTAL REAL ESTATE CA RELATED 83 18342 0 1 0.00050 EPWORTH APARTMENTS LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 272474492 RENTAL REAL ESTATE CA RELATED -8 30427 0 1 0.00340 PWC FAMILY HOUSING LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 454241499 RENTAL REAL ESTATE CA RELATED -34 1882872 0 1 0.00010 NEW HAMPSHIRE FAMILY HOUSING LP 231 EAST 3RD ST SUITE G106 LOS ANGELES CA 90013 461618235 RENTAL REAL ESTATE CA RELATED -38 93065 0 1 0.00600 CESAR CHAVEZ GARDENS LP 767 NORTH HILL STREET SUITE 400 LOS ANGELES CA 90012 954791411 RENTAL REAL ESTATE CA RELATED -7 68090 0 1 0.00010 RENO APARTMENTS LP 340 RENO STREET LOS ANGELES CA 90057 272594698 RENTAL REAL ESTATE CA RELATED -13 806759 0 1 0.00050 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 FAR EAST D 390050 ACTUAL LDK SENIOR D 2743566 ACTUAL PWC FAMILY HOUSING D 770000 ACTUAL 2449 HYPERION S 120000 ACTUAL