2014-02-06T14:43:08-08:00 2013-06-30 GTL LLP 12800 RIVERSIDE DR 3RD FL STUDIO CITY CA 916073331 990 2012-07-01 954531076 EAST L A COMMUNITY CORPORATION EAST 3232694214 530 SOUTH BOYLE AVENUE LOS ANGELES CA 90033 Maria Cabildo 2014-02-05 true FABIO VASCO P00332485 8185090066 2012 2015-11-30 17:44:51Z 4482023 false false X www.elac.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 38 7 0 5306803 2802121 705087 1679902 0 0 6011890 4482023 0 0 1447604 1677309 0 274581 1190259 1189314 2637863 2866623 3374027 1615400 17408807 18769340 6935816 6680949 10472991 12088391 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 1811931 1051860 REAL ESTATE DEVELOPMENT1. LAS MARGARITAS APARTMENTS - CLOSED OUT THE CONSTRUCTION LOAN WITH THE EQUITY CONTRIBUTION FROM ENTERPRISE.2. CUATRO VIENTOS APARTMENTS - CLOSED OUT THE CONSTRUCTION LOAN WITH THE EQUITY CONTRIBUTION FROM ENTERPRISE.3. BOYLE HOTEL - CUMMINGS BLOCK APARTMENTS - COMPLETED CONSTRUCTION AND LEASED UP ALL OF THE UNITS; CLOSED OUT THE CONSTRUCTION LOAN WITH EQUITY CONTRIBUTION FROM NATIONAL EQUITY FUND AND PUT IN PLACE A PERMANENT LOAN FROM CCRC.4. EASTLAKE AVENUE AND ALTURA WALK APARTMENTS - WAS ACQUIRED FROM HCID (FORMERLY THE LOS ANGELES HOUSING DEPARTMENT) FOR RENOVATION, LEASE-UP AND OPERATION AS LOW INCOME HOUSING. THE HCID LOAN AGREEMENT WAS EXCUTED AND THE RENOVATION PLANS WERE IN DEVELOPMENT. 5. LINDA VISTA PHASE 1 - COMPLETED CONSTRUCTION AND LEASED UP ALL OF THE UNITS AND WAS IN THE PROCESS OF CLOSING OUT THE CONSTRUCTION FINANCING. APPROXIMATELY $4.1 MILLION IN EQUITY AND PERMANENT FINANCING TO BE DISBURSED TO CLOSE OUT THE CONSTRUCTION FINANCING.6. LINDA VISTA PHASE 2 - RECEIVED ALL OF THE DEVELOPMENT FINANCING NEEDED, WAS IN THE PROCESS OF CLOSING THE CONSTRUCTION FINANCING. 7. ALTA VISTA APARTMENTS - COMPLETED CONSTRUCTION AND LEASED UP ALL OF THE UNITS AND WAS IN THE PROCESS OF CLOSING OUT THE CONSTRUCTION FINANCING. APPROXIMATELY $14 MILLION IN EQUITY AND PERMANENT FINANCING TO BE DISBURSED AT CLOSE OUT OF THE CONSTRUCTION FINANCING.8. WHITTIER PLACE APARTMENTS - SUBMITTED FOR LIHTC FINANCING. 9. 1ST AND SOTO TOD APARTMENTS - WE ACQUIRED 2419 E 1ST STREET WHICH COMPLETED THE ACQUISITION NEEDED TO MOVE THIS PROJECT FORWARD TO BE PRESENTED AS A 50 UNIT DEVELOPMENT.10. BESWICK SENIOR APARTMENTS - CLOSED THE CONSTRUCTION FINANCING AND STARTED CONSTRUCTION. 11. SOL Y LUNA APARTMENTS - CLOSED THE CONSTRUCTION FINANCING AND STARTED CONSTRUCTION. 12. CASA DEL MEXICANO - WAS HANDED OVER TO ELACC THROUGH A COURT ORDER BY DEFAULT JUDGMENT FOR ELACC TO OWN AND OPERATE. WE WERE IN THE PROCESS OF WAITING OUT THE APPEAL PERIOD SO WE COULD GET TITLE INSURANCE AND PAYOFF THE EXISTING MORTGAGE LIEN ON THE PROPERTY. PAYOFF AMOUNT APPROXIMATELY $477,000.13. LAKELAND AND LAUREL SINGLE FAMILY HOMES - STILL ON THE SHELF BY MUTUAL AGREEMENT WITH THE CITY OF SANTA FE SPRINGS AND THE JV PARTNERS (NATIONAL CORE AND ELACC) WHILE THE DEPARTMENT OF FINANCE CLEARED THE CITY OF SANTA FE SPRINGS ASSET FOR DISPOSITION. 625940 619549 ELACC PROVIDES AFFORDABLE HOUSING TO LOW INCOME FAMILIES IN THE COMMUNITY IT SERVES.TENANT SERVICES*ELACC S.T.A.R.S PROVIDED OVER 40 CHILDREN AND YOUTH WITH HOMEWORK ASSISTANCE AND TUTORING.*SUCCESSFULLY LAUNCHED TS PROGRAMMING AT ALTA VISTA. OFFERING NUTRITION WORKSHOPS, MBF, COMPUTER LAB HOURS, ELACC S.T.A.R.S TUTORING, YOUTH AND CHILDREN'S FIELD TRIP. THIS MAKES ALTA VISTA THE 6TH PROPERTY IN THE TS PORTFOLIO.*BOYLE HEIGHTS COMMUNITY MEMBERS ARE INVOLVED IN TS WORK THROUGH MOBILE FOOD BANK, SOUND ART CLASSES, YOGA AND TUTORING.*FROM OCTOBER 2012 - APRIL 2013, DISTRIBUTED TO AN AVERAGE OF 200 INDIVIDUALS PER MONTH.*IN MAY 2013, WE DOUBLED THE AVERAGE TO 400 INDIVIDUALS PER MONTH.*AMAZING FEEDBACK FROM RETURNING INDIVIDUALS REGARDING BOTH THE QUALITY/QUANTITY OF FOOD AND DEMEANOR FROM VOLUNTEERS AND STAFF DURING THE MOBILE FOOD BANK.COMMUNITY ORGANIZING*PASSED MOTION TO LEGALIZE STREET VENDING IN LOS ANGELES*CREATED METRO COMMUNITY ADVISORY COMMITTEE FOR BOYLE HEIGHTS LAND*RESTARTED BOYLE HEIGHTS COMMUNITY PLAN WITH THE CITY PLANNING DEPARTMENTCOMMUNITY WEALTHVITA*600 TAX RETURNS PREPARED - $700K IN REFUNDS, THAT INCLUDES $250K IN EITC*STARTED AND LED EASTSIDE TAX COALITION - COLLABORATIVE OF 5 ORGANIZATIONS PROMOTING FREE TAX PREP ON THE EASTSIDEFIN ED*200 FINANCIAL EDUCATION PARTICIPANTSPRE-PURCHASE*180 FIRST TIME HOMEBUYER PARTICIPANTS*250 PRE-PURCHASE COUNSELING SESSIONS*26 PURCHASED A HOMEFORECLOSURE PREVENTION*85 COUNSELING CLIENTS*23 LONG TERM MODIFICATIONSFINANCIAL COUNSELING*ENROLLED 60 COUNSELING CLIENTS, OF WHICH, 33 PARTICIPATED IN MATCH SAVINGS ACCOUNTS 2437871 true true false false false false false false false false true false false true true false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false true true false false false false true 48 0 false 38 true false false false false false false false 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 PETER CHU 3236292702 530 SOUTH BOYLE AVENUE LOS ANGELES CA 90033 FRANCINE FLORES 1.00 0.00 0 0 0 DESOLINA AVILA 1.00 0.00 0 0 0 IRMA PADILLA 1.00 0.00 0 0 0 GUILLERMINA GONZALEZ 1.00 0.00 0 0 0 ARACELI SANDOVAL 1.00 0.00 0 0 0 LETICIA ANDRADE 1.00 0.00 0 0 0 Ernesto Espinosa 40.00 0.00 87910 0 0 ISELA GRACIAN 40.00 0.00 70780 0 0 MAURY RUANO 40.00 0.00 76818 0 0 PETER CHU 40.00 0.00 104534 0 0 MARIA CABILDO 40.00 0.00 X X 118174 0 0 ALFREDO IZMAJTOVICH 1.00 0.00 X 0 0 0 LYNN HANSEN 1.00 0.00 X 0 0 0 ALFRED FRAIJO 1.00 0.00 X 0 0 0 458216 2 false false false BIRBA GROUP ARCHITECTS 2350 HYPERION AVE LOS ANGELES CA 90027 ARCHITECT 268395 1 2802121 2802121 PROGRAM SERVICE INCOME 1671409 1671409 INTEREST INCOME 8493 8493 1679902 0 0 0 0 0 0 0 0 0 4482023 1679902 0 0 0 0 458216 340042 118174 0 961882 807980 153902 0 133365 107347 13630 12388 123846 101270 7893 14683 0 5701 5526 175 34900 33895 1005 0 0 0 129402 94229 553 34620 11677 11493 114 70 28080 19959 271 7850 0 0 0 18121 17456 173 492 0 8795 8096 244 455 76312 76312 0 126290 125023 753 514 74803 69633 3845 1325 UTILITIES 48575 48157 418 PASSED-THROUGH GRANTS 89898 89898 MAINTENANCE & REPAIRS 124352 119980 1229 3143 PROGRAM SERVICES 182959 180719 2240 229449 180856 5694 42899 2866623 2437871 154171 274581 3094624 4440415 0 0 744145 205213 0 0 2021623 0 60224 56500 6667629 1092214 8238244 5575415 0 554865 554865 0 0 4716705 5915309 17408807 18769340 131535 180933 6562278 6220800 242003 279216 6935816 6680949 X 5876266 6514454 4596725 5573937 10472991 12088391 17408807 18769340 1615400 X false true X true false X 1713894 1196949 2073814 5306803 3853981 14145441 919992 1575397 958204 689469 619549 4762611 0 0 0 2633886 2772346 3032018 5996272 4473530 18908052 0 0 18908052 41405 23179 10388 15618 8493 99083 0 41405 23179 10388 15618 8493 99083 0 3355 1 3356 2678646 2795526 3042406 6011890 4482023 19010491 0.99460 0.98860 0.00520 0.01120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2115587 2115587 4265378 1002430 3262948 286664 89784 196880 5575415 REAL ESTATE DEVELOPMENT COSTS 2590529 OTHER ASSETS 159439 LOAN FEES 25935 INVESTMENT IN LIMITED PARTNERSHPS 3139406 5915309 DEPOSITS 111160 ACCRUED INTEREST 168056 279216 4482023 4482023 4482023 2866623 2866623 2866623 Form 990, Part VI, Line 19 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. Form 990, Part VI, Line 15b 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 12c 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 QUARTERLY BOARD MEETINGS WITH ACTIONS TAKEN IF SUCH A CONFLICT ARISES OR IS PERCEIVED AS MAY ARISE. Form 990, Part VI, Line 11b 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. Las Casitas Housing Ventures LLC 530 S Boyle Ave Los Angeles CA 90033 651171689 Housing CA NA WHITTIER PARTNERSHIP LP 530 SOUTH BOYLE AVENUE LOS ANGELES CA 90033 460904316 HOUSING CA N/A false false SOL Y LUNA 530 S BOYLE AVENUE LOS ANGELES CA 90033 455180571 HOUSING CA N/A false false BESWICK SENIOR APARTMENTS LLC 530S BOYLE AVENUE LOS ANGELES CA 90033 320080568 HOUSING CA N/A false false BOYLE HOTEL LP 530 SOUTH BOYLE AVE LOS ANGELES CA 263749286 263749286 HOUSING CA N/A false false LOS CUANTRO VIENTOS LP 530 SOUTH BOYLE AVE LOS ANGELES CA 90033 261806780 HOUSING CA N/A false false LAS MARGARITAS 530 SOUTH BOYLE AVE LOS ANGELES CA 90033 261806589 HOUSING CA N/A false false LOS GIRASOLES LP 530 SOUTH BOYLE AVE LOS ANGELES CA 90033 550801289 HOUSING CA N/A false false CAMINO DE LOS ARBOLES LP 530 SOUTH BOYLE AVE LOS ANGELES CA 90033 470945555 HOUSING CA N/A false false CAMINO DE LAS FLORES LP 530 SOUTH BOYLE AVENUE LOS ANGELES CA 90033 431983601 HOUSING CA N/A false false LORENA TERRACE LP 530 SOUTH BOYLE AVENUE LOS ANGELES CA 90033 320088056 HOUSING CA N/A false false false false false false false false false false false false false false false false false false false false false