2024-11-15T11:41:55-06:00 2023-12-31 330810710 SWENSON ADVISORS LLP 25220 HANCOCK AVE SUITE 240 MURRIETA CA 92562 990 2023-01-01 900126641 NTC FOUNDATION NTCF 6192261490 2820 ROOSEVELT ROAD STE 201 SAN DIEGO CA 92106 NINA LEUNG CFO 6192261490 2024-11-15 1 1 SCOTT MAXWELL P00749825 9514454700 2024-11-15 2023 2024-10-15 13:58:12Z NINA LEUNG 2820 ROOSEVELT ROAD STE 201 SAN DIEGO CA 92106 6380813 0 X WWW.NTCFOUNDATION.ORG X 2000 CA TO ACQUIRE, RENOVATE AND PRESERVE THE LAND AND THE FACILITIES OF THE FORMER NAVAL TRAINING CENTER ("NTC"), DESIGNATED AS THE "HISTORIC ARTS AND CULTURE DISTRICT". GENERAL PURPOSES OF THE FOUNDATION ARE TO OPERATE THE ARTS AND CULTURE DISTRICT AND DEVELOP PROGRAMS THAT PIONEER THE IMAGINATIVE USE OF THE ARTS AND CULTURE DISTRICT PRESERVING THE DIVERSE CULTURE OF THE SAN DIEGO REGION. 16 15 10 1 0 0 416729 481992 4985833 5454347 62120 267164 0 177310 5464682 6380813 0 0 0 0 874093 906434 0 1196 169783 5180671 5995156 6054764 6902786 -590082 -521973 49111472 42741444 15398792 12681202 33712680 30060242 X TO ACQUIRE, RENOVATE AND PRESERVE THE LAND AND THE FACILITIES OF THE FORMER NAVAL TRAINING CENTER ("NTC"), DESIGNATED AS THE "HISTORIC ARTS AND CULTURE DISTRICT". GENERAL PURPOSES OF THE FOUNDATION ARE TO OPERATE THE ARTS AND CULTURE DISTRICT AND DEVELOP PROGRAMS THAT PIONEER THE IMAGINATIVE USE OF THE ARTS AND CULTURE DISTRICT PRESERVING THE DIVERSE CULTURE OF THE SAN DIEGO REGION. 0 0 6157725 5454347 LEASING, PROGRAMMING, AND OPERATING THE NTC CIVIC ARTS AND CULTURE CENTER 134568 REHABILITATION OF THE NTC "CIVIC ARTS & CULTURAL CENTER" 6292293 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 21 0 1 10 1 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 CA X X LISA JOHNSON 6192261491 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 JUDITH NORA CHAIR, PELL INVESTMENTS LLC CFO 10.00 X 0 0 0 KATHY KRENTLER VICE-CHAIR, PROFESSOR, SAN DIEGO STATE UNIVERSITY, 10.00 X 0 0 0 KEN STIPANOV PAST-CHAIR, COMMUNITY LEADER 5.00 X 0 0 0 KURT CHILCOTT TREASURER, CDC SMALL BUSINESS FINANCE 5.00 X 0 0 0 LINDY MAMER SECRETARY, BANKING, COMMUNITY LEADER 5.00 X 0 0 0 RICH GUSTAFSON CITYMARK DEVELOPMENT 5.00 X 0 0 0 BURT ESPE THE OHANA BAYAN PROJECT 5.00 X 0 0 0 LISA JOHNSON PRESIDENT & CEO 40.00 X X 189200 0 0 JAVIER DELEON COMMUNITY LEADER 5.00 X 0 0 0 PAULA C PETER PROFESSOR OF MARKETING SDSU 5.00 X 0 0 0 SALOMON MAYA TELEVISA 5.00 X 0 0 0 DR MARK SANCHEZ SUPERINTENDENT/PRESIDENT SOUTHWESTERN COLLEGE 5.00 X 0 0 0 JASON PAGUIO COMMUNITY LEADER 5.00 X 0 0 0 VICKI REED COMMUNITY LEADER 5.00 X 0 0 0 SIDD VIVEK COMMUNITY LEADER 5.00 X 0 0 0 LYNETTE SANTOS COUNTY OF SAN DIEGO 5.00 X 0 0 0 189200 0 0 1 0 1 0 BORETTO & MERRILL CONSULTING 1616 JERRILYNN PLACE ENCINITAS CA 92024 REAL ESTATE CONSULTING 132500 1 481992 481992 LEASING, PROGRAMMING A 532000 5454347 5454347 5454347 267164 267164 MISCELLANEOUS REVENUE 900099 96837 96837 REALIZED UNREALIZED GA 900099 80473 80473 177310 6380813 5454347 0 444474 189200 139778 25609 23813 717234 529881 97081 90272 22635 15513 7122 158250 84408 73842 1196 1196 5819 1128 4691 161517 114325 8218 38974 1717473 1662121 55282 70 25300 19300 6000 562912 547443 15469 15537 12986 2551 549522 548380 1142 1243211 1238917 4294 77918 76306 1612 PROPERTY MANAGEMENT 519391 519391 ALL OTHER EXPENSES 445968 306202 138289 1477 PROPERTY TAXES 296017 296017 OTHER EVENTS 94421 88154 6267 99265 92043 5508 1714 6902786 6292293 440710 169783 7777471 7997749 1751422 1234195 3188058 3272 110150 44974389 17953618 29800602 27020771 1247660 878956 5342987 5499623 49111472 42741444 746623 171305 1556344 536288 13095825 8524230 3449379 15398792 12681202 X 33409243 29756805 303437 303437 33712680 30060242 49111472 42741444 X -521973 -3130465 X X 0 1 X 1 0 X 474401 1197713 1147756 416729 370883 3607482 3685311 5246468 3861622 4985833 5554593 23333827 275000 15000 290000 4434712 6459181 5009378 5402562 5925476 27231309 393634 1127392 307036 273543 279883 2381488 0 393634 1127392 307036 273543 279883 2381488 24849821 91456 172553 82536 62120 200331 608996 91456 172553 82536 62120 200331 608996 48128 24650 1953088 2025866 4574296 6656384 7045002 5464682 6125807 29866171 0.83200 0.83220 0.02040 0.02290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44042251 17327946 26714305 704129 405273 298856 72972 72972 0 155037 147427 7610 27020771 CONSTRUCTION IN PROGRESS 5444458 OTHER CURRENT ASSETS 55165 5499623 X 7500993 1120180 1120180 6380813 0 6380813 7479731 576945 576945 6902786 0 6902786 PART X, LINE 2: THE FOUNDATION USES A LOSS CONTINGENCIES APPROACH FOR EVALUATING UNCERTAIN TAX POSITIONS AND CONTINUALLY EVALUATES CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. THE FOUNDATION DID NOT HAVE UNRECOGNIZED TAX BENEFITS AS OF DECEMBER 31, 2019 AND 2018 AND DOES NOT EXPECT THIS TO CHANGE SIGNIFICANTLY OVER THE NEXT 12 MONTHS. IN CONNECTION WITH THE ADOPTION OF THE GUIDANCE PERTAINING TO UNCERTAIN TAX POSITIONS, THE FOUNDATION WILL RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX BENEFITS AS A COMPONENT OF INCOME TAX EXPENSE. AS OF DECEMBER 31, 2019 AND 2018, THE FOUNDATION HAD NOT ACCRUED INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE FROM EXCLUDED ENTITIES 1,120,180. BAD DEBTS PPP LOAN PROCEEDS PART XI, LINE 4B - OTHER ADJUSTMENTS: RESTRICTED CONTRIBUTIONS NTC FOUNDATION AND SMLLC REVENUE THAT WAS ELIMINATED DURING CONSOLIDATION NET LOSS FROM FUNDRAISING ACTIVITIES PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM EXCLUDED ENTITIES 576,945. NET LOSS FROM FUNDRAISING ACTIVITIES PART XII, LINE 4B - OTHER ADJUSTMENTS: NTC FOUNDATION AND SMLLC EXPENSES THAT WERE ELIMINATED UPON CONSOLIDATION BAD DEBTS 1 MYRIAD CREATIVE WORKS 4470 ALAMO WAY SAN DIEGO CA 92115 FUNDRAISE FOR NTC 0 0 1196 -1196 1196 -1196 CA X 0 0 0 0 0 0 0 0 0 LISA JOHNSON PRESIDENT & CEO 189200 0 0 0 0 0 0 0 0 0 189200 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S GOVERNING BODY REVIEWS AND COMPARES FORM 990 TO ITS IN-HOUSE PREPARED FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REISSUED EVERY YEAR. BOARD MEMBERS WITH CONFLICTS OF INTEREST ARE RECUSED FROM THE DISCUSSIONS OF THE CONFLICTING SUBJECT. FORM 990, PART VI, SECTION C, LINE 19 NTC FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND ON THE WEBSITE WWW.GUIDESTAR.COM. FORM 990, PART XI, LINE 9: ADJUSTMENTS FOR EXCLUDED ENTITIES -3,130,465. IMMATERIAL ADJUSTMENT FORM 990, PART XII, LINE 2C THE PROCESS FOR THE COMMITTEE'S OVERSIGHT OF THE AUDIT OF THE FOUNDATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. ELECTION UNDER IRC SECTION 168(H)(6)(F)(II) ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX-EXEMPT ENTITY THE LIMITED LIABILITY COMPANY LOCATED AT 2825 DEWEY RD., SUITE 207, SAN DIEGO, CA 92106 HEREBY ELECTS UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX-EXEMPT ENTITY FOR PURPOSES OF APPLYING THE RULES FOUND IN I.R.C. SECTION 168(H)(6). THIS ELECTION IS AVAILABLE TO BE MADE BY AN ENTITY THAT IS NOT TAX-EXEMPT, BUT WHICH IS CONTROLLED 50% OR MORE BY A TAX-EXEMPT ENTITY. NTC LIBERTY STATION II, LLC QUALIFIES TO MAKE SUCH ELECTION, AS IT IS OWNED 100% BY NTC FOUNDATION (A TAX-EXEMPT ENTITY). THE PURPOSE OF THIS ELECTION IS TO TREAT THE ENTITIES ALLOCABLE SHARE OF DEPRECIABLE PROPERTY OWNED BY NTC LIBERTY STATION II, LLC AS PROPERTY WHICH IS NOT TAX-EXEMPT-USE PROPERTY. NTCF LIBERTY STATION 1 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 203805723 RENTAL CA -127653 16211811 NTCF LIBERTY STATION 35 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 474654082 RENTAL CA 147124 1045444 NTC LIBERTY STATION II LLC 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 452765588 RENTAL CA 214746 16714501 BUILDING 178 PERFORMING ARTS CENTER 2820 ROOSEVELT RD STE 201 SAN DIEGO CA 92106 851976211 CA 501(C)(1) 0 NTC LIBERTY 19 OWNER LP 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 264220497 LEASING CA N/A N/A -58208 3174645 0 0 NTC LIBERTY 19 MASTER TENANT LP 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 264220544 RENTAL CA NTC FOUNDATION RELATED -11822 736619 0 0 0.99990 NTC II TENANT LP 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 452765746 RENTAL CA NTC FOUNDATION RELATED -172474 3264530 0 0 0.99990 NTC LIBERTY 19 INC 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 264220299 REAL ESTATE MANAGEMENT CA NTC FOUNDATION C -59621 126358 1.00000 1 NTC MANAGER INC 2820 ROOSEVELT RD SUITE 201 SAN DIEGO CA 92106 203805802 REAL ESTATE MANAGEMENT CA NTC FOUNDATION C -13136 1224117 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NTC LIBERTY 19 OWNER LP D 2150600 FINANCIAL STATEMENTS/ELIMINATIONS NTC MANAGER INC D 129400 FINANCIAL STATEMENTS/ELIMINATIONS NTC LIBERTY 19 MASTER TENANT LP D 9237 FINANCIAL STATEMENTS/ELIMINATIONS NTC LIBERTY 19 INC D 55274 FINANCIAL STATEMENTS/ELIMINATIONS NTC II TENANT LP D 2024462 FINANCIAL STATEMENTS/ELIMINATIONS BUILDING 178 PERFORMING ARTS D 6642 FINANCIAL STATEMENTS/ELIMINATIONS NTC LIBERTY STATION 1 D 370624 FINANCIAL STATEMENTS/ELIMINATIONS NTC LIBERTY STATION II LLC D 1735049 FINANCIAL STATEMENTS/ELIMINATIONS NTC LIBERTY STATION 35 LLC D 585768 FINANCIAL STATEMENTS/ELIMINATIONS