2024-05-10T08:51:48-05:00 2023-06-30 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2022-07-01 953451280 1979 LEGACY CORP 1979 2134733030 231 EAST THIRD STREET G-106 LOS ANGELES CA 90013 GLENN SANADA SECRETARY 2134733030 2024-05-09 1 GLENN SANADA 999009999 0 ROBERT J DOYLE JR P02365765 3178485700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GLENN SANADA 231 EAST THIRD STREET G-106 LOS ANGELES CA 90013 551629 0 X N/A X 1979 CA ITS MISSION IS TO PROVIDE AND FACILITATE BICULTURAL AND BILINGUAL SOCIAL SERVICES, REFERRALS, LOW INCOME HOUSING AND COMMUNITY DEVELOPMENT, AND ADVOCACY, PRIMARILY TO THE BROADER SOUTHERN CALIFORNIA JAPANESE AMERICAN COMMUNITY. 3 3 0 0 0 0 0 0 409760 485210 0 0 66945 66419 476705 551629 315000 440000 0 0 0 0 0 0 0 250464 200840 565464 640840 -88759 -89211 928158 1261196 5059216 5481465 -4131058 -4220269 X ITS MISSION IS TO PROVIDE AND FACILITATE BICULTURAL AND BILINGUAL SOCIAL SERVICES, REFERRALS, LOW INCOME HOUSING AND COMMUNITY DEVELOPMENT, AND ADVOCACY, PRIMARILY TO THE BROADER SOUTHERN CALIFORNIA JAPANESE AMERICAN COMMUNITY (INCLUDING THOSE WHOSE ACTIVITIES INTERFACE WITH LITTLE TOKYO) DIRECTLY AND/OR THROUGH AFFILIATED ORGANIZATIONS. 0 0 178828 PROVIDED TECHNICAL ASSISTANCE AND PREDEVELOPMENT FINANCING TO COMMUNITY-BASED ORGANIZATIONS THAT ARE DEVELOPING AFFORDABLE HOUSING IN SOUTHERN CALIFORNIA NEIGHBORHOODS. 440000 440000 551629 PROVIDED FINANCIAL SUPPORT TO LTSC COMMUNITY DEVELOPMENT CORPORATION'S SOCIAL SERVICES AND COMMUNITY DEVELOPMENT ACTIVITIES. 618828 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 CA X X BOMEE FAIN 2134733030 231 E THIRD STREET G104 LOS ANGELES CA 90013 X AMY HONJIYO PRESIDENT 0.50 X X 0 0 0 GLENN SANADA SECRETARY 0.50 X X 0 0 0 RON HIRANO TREASURER 0.50 X X 0 0 0 0 0 0 0 0 0 0 0 MANAGEMENT FEES 531390 485210 485210 485210 OPERATING INCOME FROM 900099 66419 66419 66419 551629 551629 0 0 440000 440000 5790 5790 308 308 15889 15889 OPERATING INCOME FROM S 178828 178828 PERMITS & LICENSES 25 25 640840 618828 22012 0 25923 298871 -24525 -24625 24925 24925 5297 5296 12030 7403 4935 4627 885683 952102 5920 0 928158 1261196 0 240000 5059216 5241465 5059216 5481465 X -4131058 -4220269 -4131058 -4220269 928158 1261196 -89211 0 X X 0 1 X 1 0 X 357753 530570 376241 409760 485210 2159534 357753 530570 376241 409760 485210 2159534 0 0 0 2159534 165 139 263 158 725 357918 530709 376504 409918 485210 2160259 0.99970 0.99960 0.00000 X 12030 7403 4627 4627 INVESTMENT IN AFFILIATES 952102 F 952102 INVESTMENT IN SAN PEDRO FIRM BUILDI 5238044 DUE TO LTSC CDC 3421 5241465 X 551629 0 551629 0 551629 640840 0 640840 0 640840 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE FINANCIAL STATEMENTS. EVEN THOUGH THE CORPORATION IS RECOGNIZED AS TAX EXEMPT, IT STILL MAY BE LIABLE FOR TAX ON ITS UNRELATED BUSINESS INCOME (UBI). THE CORPORATION EVALUATES UNCERTAIN TAX POSITIONS THROUGH ITS REVIEW OF THE SOURCES OF INCOME TO IDENTIFY UBI AND CERTAIN OTHER MATTERS, INCLUDING THOSE WHICH MAY AFFECT ITS TAX EXEMPT STATUS. THE EFFECT OF THE UNCERTAINTY WOULD BE RECORDED IF THE OUTCOME WAS CONSIDERED PROBABLE AND REASONABLY ESTIMABLE. AS OF JUNE 30, 2023 AND 2022, THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL. 1 LTSC COMMUNITY DEVELOPMENT CORPORATION 231 E THIRD STREET G106 LOS ANGELES CA 90013 954444102 501(C)(3) 0 440000 BOOK PURPOSE WAS TO PROVIDE OPERATING SUPPORT FOR THE ORGANIZATION'S SOCIAL SERVICES AND COMMUNITY DEVELOPMENT PROGRAMS PART I, LINE 2: 1979 LEGACY CORP.'S BOARD RECEIVES QUARTERLY REPORTS ON THE ACTIVITIES OF THE ORGANIZATION AND ON THE IMPACT THE FUNDS IT HAS CONTRIBUTED TO THE RECIPIENT AGENCY HAVE MADE. FORM 990, PART VI, SECTION B, LINE 11B 1979 LEGACY CORP.'S OUTSIDE AUDITORS AND FINANCE STAFF PREPARE FORM 990. THE FORM IS THEN REVIEWED AND APPROVED BY THE ORGANIZATION'S CHIEF FINANCIAL OFFICER AND CHIEF EXECUTIVE OFFICER. THE FORM IS THEN SENT TO THE FULL BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C 1979 LEGACY CORP. ("1979 LEGACY") REQUIRES ALL DIRECTORS TO ANNUALLY SIGN A STATEMENT AFFIRMING A) RECEIPT OF 1979 LEGACY'S CONFLICT OF INTEREST POLICY, B) UNDERSTANDING OF THE POLICY, AND C) AGREEMENT WITH THE POLICY. 1979 LEGACY'S CONFLICT OF INTEREST POLICY DESCRIBES HOW 1979 LEGACY WILL RESOLVE POSSIBLE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 SOME OR ALL OF THESE ITEMS MAY BE AVAILABLE AS PART OF A PUBLIC GRANT APPLICATION. HOWEVER, THERE IS NO PROCESS FOR MAKING THESE AVAILABLE TO THE PUBLIC. PART XII, LINE 2C OVERSIGHT OF AUDITING FUNCTION AN AUDIT COMMITTEE REVIEWS THE AUDIT RESULTS AND SELECTION OF THE AUDITING FIRM THROUGH A PERIODIC COMPETITIVE BIDDING PROCESS. 2449 HYPERION LLC 231 E THIRD STREET SUITE G106 LOS ANGELES CA 90013 954707126 RENTAL - REAL ESTATE CA LTSC COMMUNITY DEVELOPMENT CORP INVESTMENT 65750 612145 0 0 0.50000 SAN PEDRO FIRM BUILDING LP 231 E THIRD STREET SUITE G106 LOS ANGELES CA 90013 954246947 RENTAL - REAL ESTATE CA LTSC COMMUNITY DEVELOPMENT CORP INVESTMENT -178828 441940 0 0 0.99000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0