2024-11-05T11:26:07-06:00 2022-12-31 330482495 GYL LLP 4120 CONCOURS SUITE 100 ONTARIO CA 91764 990 2022-01-01 873977688 DESTINATION CRENSHAW SUPPORT FOUNDATION DEST 3236784917 5444 CRENSHAW BLVD 100 LOS ANGELES CA 900432408 JASON FOSTER CHAIRPERSON/PRESIDENT 3236784917 2024-11-05 1 1 JOSEPH ROMERO CPA P00441771 9099489990 X 2022 2024-10-15 13:58:12Z X JASON FOSTER 5444 CRENSHAW BLVD 100 LOS ANGELES CA 900432408 213080 0 X DESTINATIONCRENSHAW.LA X 2021 CA TO IMPROVE QUALITY OF LIFE AND REVITALIZE THE ECONOMY IN SOUTH LOS ANGELES THROUGH ARTS AND CULTURE. 5 5 0 5 0 0 21308000 0 0 0 0 213080 1776 0 21309776 213080 0 0 0 0 0 0 0 0 0 0 21 0 21 21309776 213059 21309776 21522835 0 0 21309776 21522835 TO IMPROVE QUALITY OF LIFE AND REVITALIZE THE ECONOMY IN SOUTH LOS ANGELES THROUGH ARTS AND CULTURE. 0 0 CREATE AND INSTALL A 1.1 MILE LONG OPEN-AIR STREET MUSEUM ALONG CRENSHAW BLVD. FROM 48TH TO 60TH STREET. 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 CA X DESTINATION CRENSHAW SUPPORT FOUNDATION 3236784917 5444 CRENSHAW BLVD 100 LOS ANGELES CA 900432408 X JASON FOSTER CHAIRPERSON/PRESIDENT 1.00 X X 0 0 0 DEBORAH BRYANT SECRETARY 1.00 X X 0 0 0 DAVID HYUN TREASURER 1.00 X X 0 0 0 JAMES BURKS BOARD MEMBER 1.00 X 0 0 0 BERLINDA FONTENOT-JAMERSON BOARD MEMBER 1.00 X 0 0 0 0 0 0 0 0 0 0 0 213080 213080 213080 0 0 213080 BANK CHARGES 21 21 21 0 21 0 1776 161565 53270 21308000 21308000 21309776 21522835 0 0 X 21309776 21522835 21309776 21522835 21309776 21522835 213059 0 X 0 1 X 1 0 X X 1 DESTINATION CRENSHAW 823003629 8 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 NMTC NOTES RECEIVABLE 21308000 21308000 X PART X, LINE 2: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIONS TAKEN BY AN ORGANIZATION IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY THE ORGANIZATION IN ITS FEDERAL AND STATE EXEMPT ORGANIZATION RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION'S RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, GENERALLY FOR FOUR YEARS AFTER THEY ARE FILED. 990 ITEM B THE ORGANIZATION WAS INCORPORATED ON DECEMBER 02, 2021. IN ORDER TO RECEIVE THE NEW MARKET TAX CREDIT, THE ORGANIZATION WAS SET-UP AS A SUPPORT ORGANIZATION. THE MANAGEMENT THOUGHT THAT ALL THE FILINGS WERE HANDLED BY THE LEGAL TEAM AND THE CPA FIRM HANDLING THE INCORPORATION FILINGS SUCH AS FORM 1023; SETUP WITH CALIFORNIA SECETARY OF STATE; AND FILING OF FORM 990. HOWEVER, IT HAS RECENTLY CAME TO MANAGEMENT'S ATTENTION THAT THE 2021 TAX RETURN WAS NOT FILED AND FORM 990-EZ WAS FILED FOR 2022 INSTEAD OF FORM 990. AS SOON AS MANAGEMENT BECAME AWARE OF THE SITUATION, THEY IMMEDIATELY ENGAGED A NEW CPA FIRM TO HANDLE ALL THE FILINGS. HENCE, THE ORGANIZATION HAS FILED THE 2023 EXTENSION AND WILL TIMELY FILE THEIR 2023 RETURN BY NOVEMBER 15, 2023. THE ORGANIZATION IS IN THE PROCESS OF FILING THE 2021 FORM 990 AND AMENDED 2022 FORM 990 TO ENSURE PROPER COMPLIANCE. FORM 990 FOR THE YEAR ENDED DECEMBER 31, 2022 IS BEING AMENDED TO FILE AS A FORM 990 AS THE FORM'S FILING THRESHOLD WAS MET. DUE TO THE MISCOMMUNICATIONS STATED ABOVE, THE FOLLOWING CHANGES TO PART X, BALANCE SHEET WERE MADE TO THE ORIGINALLY FILED AMOUNTS: LINE 4 - ACCOUNTS RECEIVABLE - $53,270 WAS ADDED FOR ACCRUED INTEREST DUE ON THE NOTES RECEIVABLE BALANCE. LINE 15 - OTHER ASSETS -- $21,308,000 WAS ADDED TO REFLECT THE "NMTC NOTES RECEIVABLE" THEREFORE, THE ORGANIZATION'S NET ASSETS INCREASED FROM $161,565 (AS ORIGNIALLY FILED ON FORM 990-EZ) TO $21,522,835 (AS AMENDED PER FORM 990). FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS SENT TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST.