2017-05-10T15:20:47-07:00 2016-06-30 GTL LLP 15315 Magnolia Blvd Suite 110 Sherman Oaks CA 914031100 990 2015-07-01 954531076 EAST L A COMMUNITY CORPORATION EAST 3232694214 2917 EAST 1ST STREET LOS ANGELES CA 90033 ISELA GRACIAN President 2017-05-10 true FABIO VASCO P00332485 8185090066 2015 2021-01-29 14:40:06Z X 4203775 false false X www.elacc.org X 1995 CA ELACC'S MISSION IS TO DEVELOP QUALITY AFFORDABLE HOUSING FOR LOW INCOME FAMILIES; TO FOSTER SELF-SUFFICIENT HOUSEHOLDS BY PROMOTING NEIGHBORHOOD ASSET BUILDING AND PRESERVATION THROUGH HOMEOWNERSHIP OPPORTUNITIES; AND TO PROVIDE FINANCIAL LITERACY.THE COMPANY IS ALSO COMMITTED TO THE SELF SUFFICIENCY AND EMPOWERMENT OF THE RESIDENTS OF LOS ANGELES EASTSIDE. 9 9 42 100 0 1584135 1886692 2156565 2317083 0 0 3740700 4203775 0 0 2025670 2028373 0 308931 1325669 2227554 3351339 4255927 389361 -52152 23138553 35595294 11880386 24389279 11258167 11206015 X ELACC'S MISSION IS TO DEVELOP QUALITY AFFORDABLE HOUSING FOR LOW INCOME FAMILIES; TO FOSTER SELF-SUFFICIENT HOUSEHOLDS BY PROMOTING NEIGHBORHOOD ASSET BUILDING AND PRESERVATION THROUGH HOMEOWNERSHIP OPPORTUNITIES; AND TO PROVIDE FINANCIAL LITERACY.THE COMPANY IS ALSO COMMITTED TO THE SELF SUFFICIENCY AND EMPOWERMENT OF THE RESIDENTS OF LOS ANGELES EASTSIDE. false false 1492014 274610 1867886 PROPERTY MANAGEMENT: OPERATED PORTFOLIO OF AFFORDABLE HOUSING UNITS PENDING FUTURE REDEVELOPMENT.TENANT SERVICES:- SERVED OVER 50 YOUTH ACROSS 7 PROPERTIES THROUGH OUR ELACC S.T.A.R.S. PROGRAM;- TOOK 60 YOUTH AND 15 PARENTS TO DISCOVERY CUBE FOR OUR SUMMER FIELD TRIP;- SERVED OVER 1,000 UNIQUE INDIVIDUALS THROUGH OUR FREE MONTHLY MOBILE FOOD PANTRY PROGRAM;- EACH MONTH WE SERVED BETWEEN 180-250 INDIVIDUALS;- ADDED CASE MANAGEMENT SUPPORT FOR TENANTS EXPERIENCING NEED FOR ADDITIONAL SUPPORT. 1004530 41667 1194508 REAL ESTATE DEVELOPMENT:COMPLETED CONSTRUCTION AND PLACED IN OPERATION 127 NEW AFFORDABLE HOUSING UNITS. IN ADDITION, THERE WERE 50 UNITS OF AFFORDABLE HOUSING UNDER CONSTRUCTION AND A TOTAL OF 452 AFFORDABLE HOUSING UNITS PLANNED FOR PROJECTS IN PREDEVELOPMENT STAGE.1.SOL Y LUNA APARTMENTS - CONVERTED TO PERMANENT FINANCING. 2.HOLLENBECK TERRACE APARTMENTS CONVERTED TO PERMANENT FINANCING. 3.WHITTIER PLACE APARTMENTS - CONVERTED TO PERMANENT FINANCING. 4.EASTLAKE AVENUE AND ALTURA WALK APARTMENTS - CONVERTED TO PERMANENT FINANCING.5.CIELITO LINDO APARTMENTS CONSTRUCTION STARTED.6.CASA DEL MEXICANO CONTINUED LEASING UP VENUE FOR EVENTS, APPLIED FOR RENOVATION FINANCING.7.LAKELAND AND LAUREL SINGLE FAMILY HOMES HAS BEEN REVIVED BY THE CITY OF SANTA FE SPRINGS FOR DEVELOPMENT WITH THE ORIGINAL JV PARTNERS, ELACC AND NATIONAL CORE.8.WHITTIER PLACE APARTMENTS PHASE 2 PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS.9.CIELITO LINDO APARTMENTS PHASE 2 (AKA 1ST AND SOTO APARTMENTS PHASE 2)- PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS. PROJECT SECURED A SPOT IN HCID LAS 9% LIHTC MANAGED PIPELINE.10.ROSA DE CASTILLA - PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS. PROJECT SECURED A SPOT IN HCID LAS 9% LIHTC MANAGED PIPELINE.11.SUN VALLEY SENIOR VETERANS APARTMENTS - PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING BUILDING PERMITS. PROJECT SECURED A SPOT IN HCID LAS 9% LIHTC MANAGED PIPELINE.12.1ST AND ROWAN APARTMENTS - PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS.13.LOS LIRIOS APARTMENTS ELACC AND BRIDGE HOUSING SIGNED THE EXCLUSIVE NEGOTIATION AGREEMENT WITH THE MTA FOR SITE CONTROL OF THEIR LAND AT THE MTA PLAZA ON 1ST AND SOTO. PROJECT IS IN PREDEVELOPMENT STAGE AND WE ARE ENGAGED IN COMMUNITY OUTREACH AND WORKING ON COMMUNITY SUPPORT. 14.LINDA VISTA HOMES (AKA LINDA VISTA III) WORKED WITH THE CITY OF LOS ANGELES TO TRANSFER THE OWNERSHIP OF THE 3 PARCELS TO RNLA, OUR JV PARTNER IN DEVELOPING THE SMALL LOT SUBDIVISION FOR SINGLE FAMILY HOMES. 482744 538720 538755 COMMUNITY ORGANIZING:- CONDUCTED COMMUNITY OUTREACH FOR 1ST AND ROWAN DEVELOPMENT MEETING; - DID OUTREACH AND FACILITATED 2 LARGE COMMUNITY MEETINGS FOR LOS LIRIOS (ENGAGING 200 RESIDENTS);- GRADUATED 50 NEW COMMUNITY RESIDENTS IN 2 LEADERSHIP ACADEMY TRAININGS;- RECRUITED 300 STREET VENDORS ONTO THE LA STREET VENDOR CAMPAIGN;- DID GENERAL OUTREACH AND CONTACT TO 1500 COMMUNITY MEMBERS ACROSS THE CITY FOR ECONOMIC JUSTICE AND HOUSING JUSTICE CAMPAIGNS;- MOBILIZED MORE THAN 1000 RESIDENTS TO LA CITY HALL AND THE METRO BOARD RELATED TO AFFORDABLE HOUSING AND TENANTS RIGHTS ISSUES. 477798 576516 602626 3457086 true true false false false false false false false false true false false true true false false true false false false false false false false false false false false false false false false false false false false false true false false false false false false true true false false false false true 61 0 false 42 true false false false false false false true true false 0 false false false false false false false false false false X 9 9 false false false false false false false true true false false true true true true true true true false false CA X ELACC 3232694214 2917 EAST 1ST STREET SUITE 101 LOS ANGELES CA 90033 ALFRED FRAIJO Chairman 1.00 0.00 X X 0 0 0 LETICIA ANDRADE BOARD MEMBER 1.00 0.00 X 0 0 0 LYNN HANSEN Treasurer 1.00 0.00 X X 0 0 0 ARACELI SANDOVAL Secretary 1.00 0.00 X X 0 0 0 GUILLERMINA GONZALEZ BOARD MEMBER 1.00 0.00 X 0 0 0 IRMA PADILLA BOARD MEMBER 1.00 0.00 X 0 0 0 DESOLINA AVILA BOARD MEMBER 1.00 0.00 X 0 0 0 ALFREDO IZMAJTOVICH VICE CHAIR 1.00 0.00 X X 0 0 0 FRANCINE FLORES BOARD MEMBER 1.00 0.00 X 0 0 0 ALEJANDRO MARTINEZ VP RE & ASSET 40.00 0.00 X 120546 0 0 ISELA GRACIAN President 40.00 0.00 X 116081 0 0 ALLISON MOUZON CPA CONTROLLER 40.00 0.00 X 96695 0 0 333322 2 false false false NEW DIRECTIONS HOUSING LLC 11303 WILSHIRE BLVD LA CA 90073 DEVELOPER FEE 187350 1 1886692 1886692 INTEREST INCOME 531390 9266 9266 PROGRAM SERVICE INCOME 531390 2307817 2307817 2317083 0 0 0 0 0 0 0 0 0 4203775 2317083 0 0 0 0 333322 271886 25679 35757 0 1376745 1122989 106066 147690 0 170435 134250 14129 22056 147871 124102 7464 16305 0 3170 170 3000 37000 2000 35000 0 0 0 152569 100557 47596 4416 17064 5065 7453 4546 21652 9548 11290 814 23496 2492 20702 302 0 0 26804 13456 12740 608 0 18092 11574 6181 337 106170 106170 0 316943 271532 44383 1028 145485 108623 29101 7761 BAD DEBTS 396896 392900 3996 PROGRAM SERVICES 324663 324663 REAL ESTATE TAXES 178803 151815 26988 MAINTENANCE & REPAIRS 169988 141640 26698 1650 288759 161654 61444 65661 4255927 3457086 489910 308931 3679661 6583621 407585 0 331861 249534 1547598 1749675 0 0 1988981 1977565 0 363351 52699 20968129 1587328 10284263 19380801 0 0 0 0 4535253 5601399 23138553 35595294 567423 285309 9725020 22678207 1216211 946441 371732 479322 11880386 24389279 X 5627779 5490971 5630388 5715044 11258167 11206015 23138553 35595294 -52152 X false true X true false X 5306803 3853981 1737408 1584135 1886692 14369019 689469 619549 1963854 2146191 2307817 7726880 0 0 0 5996272 4473530 3701262 3730326 4194509 22095899 0 0 22095899 15618 8493 24844 10374 9266 68595 0 15618 8493 24844 10374 9266 68595 0 0 6011890 4482023 3726106 3740700 4203775 22164494 0.99690 0.99670 0.00310 0.00330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15783480 15783480 4492438 1167304 3325134 338347 284469 53878 353864 135555 218309 19380801 ADVANCE TO LIMITED PARTNERSHIPS 36709 ADVANCE TO LIMTED PARTNERSHIPS 1335801 INVESTMENT IN LIMITED PARTNERSHIPS 1939406 INVESTMENT IN LIMITED PARTNERSHIPS 346134 LOAN FEES 205385 OTHER ASSETS 6365 REAL ESTATE DEVELOPMENT COSTS 1731599 5601399 ACCRUED INTEREST 290921 DEPOSITS AND OTHER PAYABLES 188401 479322 ALEJANDRO MARTINEZ KEY EMPLOYEE 535000 EXCESS BEN. TRANSACT false Schedule L, Part V Supplemental Information During the year ended June 30, 2016, the Organization sold one real estate property under development for rental purposes to a member of its senior management (key employee and Disqualified Person) on terms less than equivalent to those that would prevail in an arm's-length transaction. The asset's book value including capitalized and holding costs, commission and other selling costs totaled approximately $559,000 and the total sale price per the escrow closing statement was $535,000. The Organization on September 1, 2015 had received an all cash, no loan contingency offer of $600,000.The following actions have been taken by the Organization in an attempt to correct the excess benefit transaction and make the Organization whole:1. Legal counsel was engaged to conduct a review of the transaction and to recommend options available as to the cost benefit of pursuing litigation and the likelihood of positive results. The board of directors considered all alternatives and resolved not to pursue litigation and recommended attempt to seek restitution to make the Organization whole. 2. On November 17, 2016 the Organization sent a demand letter to the Disqualified Person with on offer to accept a note payable with monthly principal and interest payments making the Organization whole; no response was ever received on this letter.3. On March 13, 2017 legal counsel provided a two (2) hour ethics seminar training to all management personnel and reviewed in detail board adopted guidelines for acquisition and disposition of any and all real estate property transactions. 4. On May 5, 2017 legal counsel sent a second letter to the Disqualified Person solely with the intent to provide notice of the Organizations obligation under applicable federal and state law to report the property transaction as an excess benefit transaction and its intent to fully comply with all federal and state tax filing and reporting requirements related to excess benefit transactions received by disqualified persons. Such letter also reiterated the offer to make the Organization whole from the excess benefit transaction by immediately making arrangements to tender full cash payment in the form of a cashiers check to the Organization in the amount of $65,000 plus interest at the rate of 5% per month or portion of month thereof, calculated beginning from the date that the excess benefit transaction occurred, and through and including the date of final payment to the Organization. No response has been received as of the date of this filing. Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: REAL ESTATE DEVELOPMENT:COMPLETED CONSTRUCTION AND PLACED IN OPERATION 127 NEW AFFORDABLE HOUSING UNITS. IN ADDITION, THERE WERE 50 UNITS OF AFFORDABLE HOUSING UNDER CONSTRUCTION AND A TOTAL OF 452 AFFORDABLE HOUSING UNITS PLANNED FOR PROJECTS IN PREDEVELOPMENT STAGE.1.SOL Y LUNA APARTMENTS - CONVERTED TO PERMANENT FINANCING. 2.HOLLENBECK TERRACE APARTMENTS CONVERTED TO PERMANENT FINANCING. 3.WHITTIER PLACE APARTMENTS - CONVERTED TO PERMANENT FINANCING. 4.EASTLAKE AVENUE AND ALTURA WALK APARTMENTS - CONVERTED TO PERMANENT FINANCING.5.CIELITO LINDO APARTMENTS CONSTRUCTION STARTED.6.CASA DEL MEXICANO CONTINUED LEASING UP VENUE FOR EVENTS, APPLIED FOR RENOVATION FINANCING.7.LAKELAND AND LAUREL SINGLE FAMILY HOMES HAS BEEN REVIVED BY THE CITY OF SANTA FE SPRINGS FOR DEVELOPMENT WITH THE ORIGINAL JV PARTNERS, ELACC AND NATIONAL CORE.8.WHITTIER PLACE APARTMENTS PHASE 2 PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS.9.CIELITO LINDO APARTMENTS PHASE 2 (AKA 1ST AND SOTO APARTMENTS PHASE 2)- PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS. PROJECT SECURED A SPOT IN HCID LAS 9% LIHTC MANAGED PIPELINE.10.ROSA DE CASTILLA - PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS. PROJECT SECURED A SPOT IN HCID LAS 9% LIHTC MANAGED PIPELINE.11.SUN VALLEY SENIOR VETERANS APARTMENTS - PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING BUILDING PERMITS. PROJECT SECURED A SPOT IN HCID LAS 9% LIHTC MANAGED PIPELINE.12.1ST AND ROWAN APARTMENTS - PROJECT IS IN PREDEVELOPMENT STAGE, HAS SECURED SOME PROJECT FINANCING AND IS WORKING ON SECURING ENTITLEMENTS.13.LOS LIRIOS APARTMENTS ELACC AND BRIDGE HOUSING SIGNED THE EXCLUSIVE NEGOTIATION AGREEMENT WITH THE MTA FOR SITE CONTROL OF THEIR LAND AT THE MTA PLAZA ON 1ST AND SOTO. PROJECT IS IN PREDEVELOPMENT STAGE AND WE ARE ENGAGED IN COMMUNITY OUTREACH AND WORKING ON COMMUNITY SUPPORT. 14.LINDA VISTA HOMES (AKA LINDA VISTA III) WORKED WITH THE CITY OF LOS ANGELES TO TRANSFER THE OWNERSHIP OF THE 3 PARCELS TO RNLA, OUR JV PARTNER IN DEVELOPING THE SMALL LOT SUBDIVISION FOR SINGLE FAMILY HOMES. Form 990, Part VI, Line 11b: Form 990 Review Process THE FINANCE COMMITTEE AND THE BOARD REVIEWS THE 990 AT A REGULARLY SCHEDULED MEETING THAT FALLS CLOSE TO WHEN THE DOCUMENT IS SUBMITTED. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts ALL BOARD MEMBERS RECEIVE IT AND ARE REMINDED OF IT ANNUALLY. POTENTIAL CONFLICTS OF INTEREST ARE DISCUSSED AND DETAILED AT BIMONTHLY BOARD MEETINGS WITH ACTIONS TAKEN IF SUCH A CONFLICT ARISES OR IS PERCEIVED AS MAY ARISE. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees WHEN RECRUITMENT TAKES PLACE, A SUBCOMMITTEE OF THE BOARD REVIEWS THE JOB DESCRIPTION QUALIFYING CRITERIA AND DETERMINES A SUMMARY RANGE. COMPARISONS OF LIKE POSITIONS AT SIMILAR-SIZED ORGANIZATIONS OCCUR. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available THE ORGANIZATION PROVIDES GOVERNING DOCUMENTS, CONFLICT OF INTEREST AND FINANCIAL STATEMENTS WHEN NEEDED IN THE COURSE OF BUSINESS TRANSACTIONS. Las Casitas Housing Ventures LLC 2917 EAST 1ST STREET SUITE 101 Los Angeles CA 90033 651171689 Housing CA NA LORENA TERRACE LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 320080568 HOUSING CA N/A -46 262587 false true CAMINO DE LAS FLORES LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 431983601 HOUSING CA N/A -21 49826 false true CAMINO DE LOS ARBOLITOS LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 470945555 HOUSING CA N/A 8 -25 false true LOS GIRASOLES LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 550801289 HOUSING CA N/A -9 -124 false true LAS MARGARITAS LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 261806589 HOUSING CA N/A -53 910878 false true LOS CUANTRO VIENTOS LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 261806780 HOUSING CA N/A -60 1053108 false true BOYLE HOTEL LLC 2917 E 1ST ST 101 LOS ANGELES CA 90033 263763242 HOUSING CA N/A -86 61469 false true BESWICK SENIOR APARTMENTS LLC 2917 E 1ST ST 101 LOS ANGELES CA 90033 462124348 HOUSING CA N/A -30 55 false true SOL Y LUNA LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 455180571 HOUSING CA N/A -101 -18 false true WHITTIER PSH LP 2917 E 1ST ST 101 LOS ANGELES CA 90033 460904316 HOUSING CA N/A -16 84 false true VISTA DUNES GP LLC 9421 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 261331959 HOUSING CA N/A -2386 -52473 false true AMCAL LINDA VISTA FUND LP 30141 AGOURA ROAD SUITE 100 AGOURA HILLS CA CA 91301 453767649 HOUSING CA N/A -15 58 false true AMCAL HOLLENBECK FUND LP 30141 AGOURA ROAD SUITE 100 AGOURA CA 91301 455078169 HOUSING CA N/A -42 25 false true false false false false false false false false false false false false false false false false false false false