2015-01-19T17:35:51-06:00 2014-06-30 202227407 Choi Kim & Park LLP 3435 Wilshire Blvd Ste 2240 Los Angeles CA 90010 990 2013-07-01 953779389 KOREATOWN YOUTH AND COMMUNITY CENTER KORE 2133657400 3727 W SIXTH STREET No 300 LOS ANGELES CA 90020 JOHNG HO SONG EXECUTIVE DIRECTOR 2133657400 2014-12-10 1 Kiho Choi P00545677 2134809100 2013 2016-02-25 16:41:14Z JOHNG HO SONG 3727 W SIXTH STREET No 300 LOS ANGELES CA 90020 5593854 0 X WWW.KYCCLA.ORG X 1982 CA TO PROVIDE A CONTINUUM OF COMMUNITY-BASED SERVICES TO THE CHILDREN AND FAMILIES OF KOREATOWN. 16 16 109 514 0 0 2657103 2978915 2330002 2475252 1331 1302 33090 23698 5021526 5479167 0 0 0 0 3440406 3821136 0 0 176204 1504522 1592070 4944928 5413206 76598 65961 4310615 3408359 2056404 604853 2254211 2803506 X KYCC'S PROGRAMS AND SERVICES ARE DIRECTED TOWARD RECENTLY IMMIGRATED, ECONOMICALLY DISADVANTAGED YOUTH AND THEIR FAMILIES, AND PROMOTE COMMUNITY SOCIO-ECONOMIC EMPOWERMENT. 0 0 1133999 884747 THE ENVIRONMENTAL SERVICES UNIT PROVIDES FREE TREE PLANTING, TREE DISTRIBUTION, GRAFFITI REMOVAL, COMMUNITY CLEAN-UPS, AND ENVIRONMENTAL EDUCATION IN KOREATOWN AND CENTRAL AND SOUTH LOS ANGELES. KYCC BEAUTIFIES CANOPY-POOR AREAS OF LOS ANGELES BY PLANTING STREET TREES AND BY DISTRIBUTING FREE TREES TO PROPERTY OWNERS THROUGH THE MAYOR'S CITY PLANTS PROGRAM. KYCC ALSO PROVIDES GRAFFITI REMOVAL AND COMMUNITY CLEAN-UP SERVICES, FREE OF CHARGE, SEVEN DAYS A WEEK, FOR KOREATOWN AND CENTRAL LOS ANGELES. THROUGH NEIGHBORHOOD BEAUTIFICATION AND ENVIRONMENTAL EDUCATION, KYCC IS HELPING TO MAKE LOS ANGELES A SAFE, HEALTHY AND MORE BEAUTIFUL COMMUNITY. 1174492 THE CLINICAL SERVICES UNIT OFFERS CULTURALLY COMPETENT MENTAL HEALTH SERVICES FOR LOW-INCOME CHILDREN, YOUTH, AND THEIR FAMILIES. INDIVIDUAL, GROUP, AND FAMILY THERAPY IS PROVIDED FREE OF CHARGE IN OUT-PATIENT, SCHOOL-BASED, AND IN-HOME SETTINGS THROUGH CONTRACTS WITH THE COUNTY DEPARTMENT OF MENTAL HEALTH, COUNTY DEPARTMENT OF CHILDREN AND FAMILY SERVICES, AND OTHER FUNDERS. SERVICES ALSO INCLUDE MEDICATION MANAGEMENT, INDIVIDUAL AND FAMILY-BASED CASE MANAGEMENT, CHILD ABUSE PREVENTION/INTERVENTION, AND PARENTING EDUCATION. ALL SERVICES ARE AVAILABLE IN ENGLISH, SPANISH, AND KOREAN. 855189 512653 KYCC'S KID TOWN PRESCHOOL PROVIDES EARLY CHILDHOOD EDUCATION FOR CHILDREN AGES TWO AND A HALF MONTHS TO FIVE YEARS. THE CENTER'S PROGRESSIVE PHILOSOPHY EMPHASIZES CREATIVE EXPLORATION IN A DEVELOPMENTALLY APPROPRIATE ENVIRONMENT, WHERE CHILDREN CAN LEARN, GROW, AND DEVELOP AT THEIR OWN PACE. CHILDREN ARE FREE TO CHOOSE FROM A VARIETY OF TEACHER-DIRECTED AND CHILD-INITIATED ACTIVITIES INCLUDING DRAMATIC PLAY, LANGUAGE AND LITERACY ACTIVITIES, BLOCKS AND OTHER MANIPULATIVE ACTIVITIES, PAINTING AND ART ACTIVITIES, COOKING, GARDENING, AND ACTIVE OUTDOOR EXPLORATION. ACTIVITIES ARE DESIGNED TO PROMOTE HIGH SELF-ESTEEM, INDEPENDENT LEARNING, AND LIFE-LONG FEELINGS OF COMPETENCE. THE CENTER IS OPEN MONDAY THROUGH FRIDAY, 7AM-6PM, YEAR ROUND TO MEET THE NEEDS OF WORKING FAMILIES. 1809025 1101550 KYCC PROVIDES YOUTH SERVICES, PREVENTION SERVICES, ECONOMIC DEVELOPMENT SERVICES AND AFFORDABLE HOUSING. YOUTH SERVICES INCLUDE AFTERSCHOOL PROGRAMS FOR YOUTH FROM 1ST GRADE THROUGH HIGH SCHOOL. WE ALSO OFFER A FULL-DAY SUMMER CAMP AT AN AFFORDABLE PRICE. PREVENTION SERVICES INCLUDE WORKING WITH BUSINESSES TO HELP THEM COMPLY WITH ORDANANCES AND WITH YOUTH TO HELP THEM MAKE POSITIVE LIFE CHOICES. COMMUNITY ECONOMIC DEVELOPMENT INCLUDES FREE TAX PREPARATION, TAX TIME SAVINGS, CONSUMER ADVOCACY AND EDUCATION, AND FINANCIAL EDUCATION. KYCC PROVIDES 208 UNITS OF AFFORDABLE HOUSING TO THE KOREATOWN COMMUNITY. TWO OF THE BUILDINGS, ON WILTON PLACE AND MENLO STREET, ARE MIXED-USE FACILITIES, HOUSING KYCC OFFICES AND PROGRAMS WHILE THE UPPER FLOORS HOUSE AFFORDABLE RESIDENTIAL UNITS. 1809025 1101550 4972705 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 27 0 109 1 0 0 0 0 0 1 1 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 CA X X JOE ST JOHN 2133657400 3727 W SIXTH STREET STE 300 LOS ANGELES CA 90020 EDWARD K KIM VICE PRESIDENT 2.00 X 0 0 0 NITA SONG PRESIDENT 2.00 X 0 0 0 MIN KIM SECRETARY 2.00 X 0 0 0 FRANCIS Y PARK VICE PRESIDENT 2.00 X 0 0 0 DANIEL C CHANG TREASURER 2.00 X 0 0 0 PATTY YOON BOARD OF DIRECTOR 2.00 X 0 0 0 DANIEL KIM BOARD OF DIRECTOR 2.00 X 0 0 0 PAUL T KIM CMP BOARD OF DIRECTOR 2.00 X 0 0 0 RICHARD KIM BOARD OF DIRECTOR 2.00 X 0 0 0 JEAN Y LIM BOARD OF DIRECTOR 2.00 X 0 0 0 SHARON O'ROURKE BOARD OF DIRECTOR 2.00 X 0 0 0 ED PAI PHD BOARD OF DIRECTOR 2.00 X 0 0 0 PATRICIA L WATTS BOARD OF DIRECTOR 2.00 X 0 0 0 ALLISON HANADA BOARD OF DIRECTOR 2.00 X 0 0 0 SANDRA LEE BOARD OF DIRECTOR 2.00 X 0 0 0 FELICIA ROSENFELD BOARD OF DIRECTOR 2.00 X 0 0 0 JOHNG HO SONG EXECUTIVE DIRECTOR 40.00 X 148768 0 5588 JOSEPH ST JOHN CHIEF OPERATING OFFICER 40.00 X 94948 0 4817 BYRON SHINYAMA DIRECTOR OF COMMUNITY DEVE 40.00 X 83254 0 4266 SAM JOO DIRECTOR OF CHILDREN & FAM 40.00 X 99807 0 0 426777 0 14671 1 0 1 0 0 313884 1731445 933586 70091 2978915 ENVIRONMENTAL SERVICES 811000 884747 884747 YOUTH SERVICES 611710 785523 785523 CHILDCARE 611710 512653 512653 HOUSING 532000 128377 128377 ECONOMIC DEVELOPMENT 561499 119510 119510 44442 44442 2475252 1302 1302 114687 313884 114687 0 OTHER REVENUE 999999 23698 23698 23698 5479167 2498950 0 1302 497095 250051 217044 30000 2463921 2147065 261577 55279 53882 34320 17734 1828 561556 438420 102347 20789 244682 201303 37055 6324 16000 16000 446455 334924 111201 330 13576 6134 7442 110445 78158 26052 6235 94306 70025 21951 2330 316182 268780 39722 7680 32762 31683 721 358 11809 2575 6228 3006 321 321 100363 48910 51453 37143 1288 35855 Program events, supplie 196255 186888 8843 524 Other expense in rental 144348 144348 Automobile 69011 69011 Loss in Partnership 3094 2980 114 655842 -697363 41521 5413206 4972705 264297 176204 530515 859772 1153499 761058 2712 2389948 942068 2281390 1447880 342499 339519 130 4310615 3408359 342854 317300 212334 287553 993855 507361 0 2056404 604853 X 2135461 2678506 118750 125000 2254211 2803506 4310615 3408359 X 65961 483333 X X 0 1 X 1 1 1 X 1737322 2610827 2754500 2836930 3144000 13083579 1737322 2610827 2754500 2836930 3144000 13083579 13083579 10630 10242 1335 1331 1302 24840 25464 174755 33090 139691 373000 13481419 9009790 0.97050 0.97950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2154849 752503 1402346 235099 189565 45534 1447880 INVESTMENT IN LP 339519 F 339519 5816564 152619 184778 337397 5479167 0 5479167 5750602 152619 184778 337397 5413205 0 5413205 Part XI, Line 2d - Other Adjustments: Fundraising (cash) Fundraising (non-cash) Contribution portion from Fundraising event Part XII, Line 2d - Other Adjustments: Fundraising (cash) Fundraising (non-cash) Contribution portion from Fundraising event PART XII, LINE 2d and PART XIII LINE 2d CONSIST OF FUNDRAING EXPENSES OF $114,687, AND NON-CASH CONTRIBUTIONS (TOYS, BOOKS, ETC) OF $70,091. PART XII, LINE 2b KYCC maintains a tax-exempt status under sections 501(c)(3) of the Internal Revenue Code and 23701(d) of the State of California, Revenue and Taxation Code. KYCCs form 990, Return of Organization Exempt from Income Taxes for the years ended June30, 2012, 2011 and 2010 are subject to examination by the IRS and FTB, generally for three years after they were filed. As required by the Income Taxes Topic for the FASB ASC, KYCC recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. KYCC does not believe its financial statements include any uncertain tax positions. Concert 320222 226992 93230 93230 Golf 89559 75863 13696 13697 1 18790 11030 7760 7760 428571 313885 114686 114687 114687 -1 X X X X 0 0 0 0 0 0 0 0 0 JOHNG HO SONG EXECUTIVE DIRECTOR 148768 0 0 0 0 0 5588 0 0 0 154356 0 0 0 Part I, Line 3 IN JANUARY 2006, THE EXECUTIVE COMMITTEE RECOMMENDED AN ADJUSTMENT TO THE EXECUTIVE DIRECTOR'S COMPENSATION TO THE CURRENT LEVEL, AND IN 2011 IT RECOMMENDED AN ADJUSTMENT TO THE CHIEF OPERATING OFFICER'S COMPENSATION TO THE CURRENT LEVEL. THERE WAS A REVIEW BY MEMBERS OF THE EXECUTIVE COMMITTEE AND APPROVAL FROM THE FULL BOARD. MODIFICATIONS TO COMPENSATION, INCLUDING BENEFITS, OF THE EXECUTIVE DIRECTOR AND CHIEF OPERATING/FINANCIAL OFFICER ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS, IF SUCH MODIFICATIONS ARE NOT SUBSTANTIALLY SHARED BY ALL EMPLOYEES. COMPARABLE DATA, COMPENSATION SURVEYS, AND OTHER MEANS ARE USED TO DETERMINE THAT THE COMPENSATION IS JUST AND REASONABLE. X Ticket, Coupo 22 33377 FMV X Toys, Books, 25 32536 FMV X Food, and Bev 2 3548 FMV X Rental & Serv 4 630 FMV 0 0 0 Form 990, Part VI, Section B, line 11 Form 990, Part VI, Section B, line 11: A draft of Form 990 was provided to the organization's Board of Directors prior to filing. In compliance with the California Nonprofit Integrity Act of 2004 (SB 1262), the Audit Committee conferred with the independent auditors to satisfy members of the financial affairs of the organization. The Audit Committee determined to accept the audit and submitted its opinion to accept the audited financials to a full vote of the Board of Directors. The Board of Directors accepted the audit. The audited financial statements were the basis for completing the Form 990. Prior to filing, the Form 990 was distributed to the full Board along with an executive summary provided by the Chief Operating Officer. A period for questions and clarifications about the Form 990 was provided to the board and any items of concern were addressed prior to filing. Form 990, Part VI, Section B, line 12c Form 990, Part VI, Section B, line 12c: The organization's conflict of interest policy covers all board members and staff members. Board members are introduced to the policy during their initial orientation and are expected to disclose potential conflicts with the Executive Director and/or a member of the Executive Committee. On an annual basis, the Board of Directors reviews the policy (during the June meeting or, if cancelled, the first Board of Directors meeting thereafter). The Executive Committee has the authority to review any claims of conflict of interest. If conflicts of interest exist, members are prohibited from participating in the governing body's deliberations and decisions in any matter in which they may have such conflict of interest. Staff is introduced to the policy during their new hire orientation. The management team is responsible for reporting any potential conflicts of interest to the Executive Director. If the Executive Director finds merit in the report, a report is forwarded to the Executive Committee of the Board of Directors. Form 990, Part VI, Section B, line 15 IN JANUARY 2006, THE EXECUTIVE COMMITTEE RECOMMENDED AN ADJUSTMENT TO THE EXECUTIVE DIRECTOR'S COMPENSATION TO THE CURRENT LEVEL, AND IN 2011 IT RECOMMENDED AN ADJUSTMENT TO THE CHIEF OPERATING OFFICER'S COMPENSATION TO THE CURRENT LEVEL. THERE WAS A REVIEW BY MEMBERS OF THE EXECUTIVE COMMITTEE AND APPROVAL FROM THE FULL BOARD. MODIFICATIONS TO COMPENSATION, INCLUDING BENEFITS, OF THE EXECUTIVE DIRECTOR AND CHIEF OPERATING/FINANCIAL OFFICER ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS, IF SUCH MODIFICATIONS ARE NOT SUBSTANTIALLY SHARED BY ALL EMPLOYEES. COMPARABLE DATA, COMPENSATION SURVEYS, AND OTHER MEANS ARE USED TO DETERMINE THAT THE COMPENSATION IS JUST AND REASONABLE. Form 990, Part VI, Section C, line 19 FINANCIAL STATEMENTS FOR THE MOST CURRENT YEAR ARE AVAILABLE ON THE KYCC WEBSITE AND IN PERSON, UPON REQUEST. CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS ARE NOT GENERALLY MADE AVAILABLE BUT CONSIDERATION WOULD BE MADE TO A WRITTEN REQUEST. Form 990, Part XI, line 9: 0.5% equity interest in Reno Apartments LP. 483,333. Part XII, Line 2c THERE IS NO CHANGE FROM THE PRIOR YEAR ON KYCC'S OVERSIGHT ON FINANCIAL STATEMENTS. AUDIT COMMITTEE APPOINTS THE INDEPENDENT AUDITORS EACH YEAR, AND THE INDEPENDENT AUDITORS REPORT THE AUDITED FINANCIAL STATEMENTS TO THE AUDIT COMMITTEE, WHICH IN TURN REPORTS TO THE FULL BOARD WHEN IT ACCEPTS THE AUDITED FINANCIAL STATEMENTS. Part XI, Line 9 On January 1, 2014, KYCC transferred Reno Apartments building and related acquisition note payable, to Reno Apartments, L.P in exchange for 0.5% equity interest in Reno Apartments L.P. The total amount of assets related to Reno project was $1,052,780 and the total amount of liabilities related to Reno project was $1,536,114. Accordingly, net assets were increased to reflect the liability relieved in excess of the asset transferred. KYCC recognized rental income of $128,377 from Reno project for 6 months prior to transfer.