2024-10-10T15:39:12-05:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-01-01 873343478 HOLLYWOOD ARTS BUILDING QALICB HOLL 2122217300 5757 WILSHIRE BOULEVARD STE 400 LOS ANGELES CA 90036 CONNIE YOO TREASURER 2122217300 2024-10-10 1 0 SCOTT THOMPSETT P00741490 2125990100 2023 2024-10-15 13:58:12Z JOSEPH BENINCASA 5757 WILSHIRE BOULEVARD STE 400 LOS ANGELES CA 90036 0 0 X WWW.ENTERTAINMENTCOMMUNITY.ORG X 2021 CA WE PROVIDE FINANCIAL SUPPORT FOR THE REHABILITATION OF THE HOLLYWOOD ARTS COLLECTIVE. 5 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32502 35714 32502 35714 -32502 -35714 23525498 24192921 23558000 24261137 -32502 -68216 X THE HOLLYWOOD ARTS BUILDING QALICB ("QALICB") WAS ESTABLISHED TO HELP FACILITATE A NEW MARKETS TAX CREDIT TRANSACTION FOR THE HOLLYWOOD ARTS COLLECTIVE. (SEE SCHEDULE O)THE NEW MARKETS TAX CREDIT PROGRAM INCENTIVIZES COMMUNITY DEVELOPMENT AND ECONOMIC GROWTH THROUGH THE USE OF TAX CREDITS THAT ATTRACT PRIVATE INVESTMENT TO DISTRESSED COMMUNITIES. 0 0 0 0 0 THE HOLLYWOOD ARTS BUILDING QALICB ("QALICB") DID NOT UNDERTAKE ANY ACTIVE PROGRAMMATIC ACTIVITIES IN CALENDAR YEAR 2023. THE QALICB WAS CREATED FOR THE EXPRESS PURPOSE OF FACILITATING A NEW MARKETS TAX CREDIT AND LIKELY WILL ONLY INCUR EXPENDITURES RELATED TO THE FACILITATION OF FINANCING FOR THE HOLLYWOOD ARTS COLLECTIVE BUILDING. 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 2 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X X CONNIE YOO 2122217300 729 SEVENTH AVENUE NEW YORK NY 10019 JOSEPH BENINCASA PRESIDENT 1.00 50.00 X X 0 697808 125894 BARBARA DAVIS SECRETARY 1.00 50.00 X X 0 393563 106198 CONNIE YOO TREASURER 1.00 40.00 X X 0 320491 96525 MARK HOSTETTER DIRECTOR 1.00 0.00 X 0 0 0 COURTNEY DEBEIKES DIRECTOR 1.00 0.00 X 0 0 0 0 1411862 328617 0 0 1 0 0 0 0 0 0 PROJECT DEV. FEES 35714 35714 35714 0 35714 0 0 0 20685135 18843600 0 0 0 0 0 0 0 0 0 0 0 0 217498 181784 5167537 0 2622865 5167537 0 0 0 0 0 0 0 0 0 0 23525498 24192921 0 531990 0 0 0 0 0 0 0 0 0 0 23558000 23558000 0 0 0 171147 23558000 24261137 X -32502 -68216 -32502 -68216 23525498 24192921 -35714 0 X 0 1 X 1 1 1 X X 1 THE ACTORS' FUND OF AMERICA 131635251 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE A: THE HOLLYWOOD ARTS BUILDING QALICB PROVIDES SUPPORT TO THE ACTORS' FUND OF AMERICA BY FACILITATING THE NEW MARKETS TAX CREDIT TRANSACTION THAT WILL REHABILITATE THE HOLLYWOOD ARTS COLLECTIVE BUILDING. NO FINANCIAL SUPPORT WILL BE PROVIDED TO THE ACTORS' FUND OF AMERICA AS THE QALICB DOES NOT GENERATE REVENUES AND IS A LIMITED-PURPOSE ENTITY. 5167537 5167537 5167537 X PART X, LINE 2: THE HOLLYWOOD ARTS BUILDING QALICB DOES NOT RECEIVE ITS OWN STANDALONE FINANCIAL STATEMENTS; ITS FINANCIAL OPERATIONS ARE REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF ITS PARENT ENTITY, THE ACTOR'S FUND OF AMERICA. THE BELOW FIN-48 FOOTNOTE IS REPORTED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS. UNDER THE ASC TOPIC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, GUIDANCE WAS ISSUED WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS STANDARD PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE STANDARD ALSO PROVIDES GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. THE ACTORS FUND DOES NOT BELIEVE IT HAS ANY UNCERTAIN TAX POSITIONS. THE ACTORS FUND HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS, TO IDENTIFY AND REPORT UNRELATED INCOME, DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS, AND TO REVIEW OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. 0 1 0 0 0 0 0 0 0 JOSEPH BENINCASA PRESIDENT 0 474894 0 125000 0 97914 0 86579 0 39315 0 823702 0 0 BARBARA DAVIS SECRETARY 0 369949 0 15214 0 8400 0 65393 0 40805 0 499761 0 0 CONNIE YOO TREASURER 0 299522 0 12569 0 8400 0 52731 0 43794 0 417016 0 0 PART I, LINE 3 HOLLYWOOD ARTS BUILDING QALICB ("QALICB") DOES NOT COMPENSATE ANY OF THE INDIVIDUALS REPORTED IN SCHEDULE J OF THE FORM 990; COMPENSATION REPORTED IN THAT SCHEDULE IS PAID BY ITS PARENT ORGANIZATION, THE ACTORS' FUND OF AMERICA ("AFA"). SINCE QALICB DOES NOT PROVIDE ANY COMPENSATION, SCHEDULE J, PART I, QUESTION 3 IS LEFT BLANK. FOR MORE INFORMATION ABOUT THE PROCEDURES EMPLOYED TO DETERMINE THE COMPENSATION OF THE INDIVIDUALS REPORTED ON THE QALICB FORM 990, PLEASE REFER TO SCHEDULE J OF THE AFA FORM 990. PART I, LINE 4B FOR THE YEAR ENDING DECEMBER 31, 2023, JOSEPH BENINCASA - PRESIDENT & CEO, BARBARA DAVIS - CHIEF OPERATING OFFICER, AND CONNIE YOO - CHIEF FINANCIAL OFFICER PARTICIPATED IN THE RELATED ORGANIZATION'S SUPPLEMENTAL 457(F) NONQUALIFIED RETIREMENT PLAN. SECTION 457(F) DEFERRALS FOR THESE INDIVIDUALS WERE $38,492, $17,323, AND $5,417 RESPECTIVELY AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN (C). FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S BYLAWS REQUIRE THAT THE BOARD BE COMPRISED OF DIRECTORS, OFFICERS, OR EMPLOYEES OF THE ACTORS' FUND OF AMERICA, THE QALICB'S PARENT ORGANIZATION. IN ADDITION, FOR THE FIRST SEVEN YEARS OF QALICB'S EXISTENCE, ONE BOARD MEMBER IS APPOINTED BY AN UNRELATED THIRD-PARTY ORGANIZATION THAT HELPED FACILITATE THE NEW MARKET TAX CREDIT TRANSACTION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL AND MANAGEMENT TEAMS. A COPY OF THE DRAFT FORM 990 WAS CIRCULATED TO THE FULL BOARD OF DIRECTORS FOR DISCUSSION AND COMMENT. EACH DIRECTOR WAS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE 990 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE QALICB HAS ADOPTED THE CONFLICT OF INTEREST POLICY OF ITS PARENT ORGANIZATION, THE ACTORS' FUND OF AMERICA. THIS POLICY REQUIRES THE OFFICERS, TRUSTEES, AND KEY EMPLOYEES TO COMPLETE THE CONFLICT OF INTEREST POLICY FORM AND SIGN ON AN ANNUAL BASIS AT A MINIMUM, AND INFORM THE ORGANIZATION WHEN THE CONFLICT OF INTEREST CIRCUMSTANCES ARISE. FORM 990, PART VI, SECTION B, LINES 13 & 14 THE QALICB OPERATES UNDER THE WHISTLEBLOWER AND DOCUMENT RETENTION POLICY OF ITS PARENT ORGANIZATION, THE ACTORS' FUND OF AMERICA. FORM 990, PART VI, SECTION C, LINE 19 THE QALICB'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC AT ITS MAIN PLACE OF BUSINESS AS INDICATED ON THE FIRST PAGE OF THE FORM 990, AS WELL AS AT THE OFFICES OF ITS PARENT ORGANIZATION, THE ACTORS' FUND OF AMERICA. IN ADDITION, THE FORM 990 IS MADE AVAILABLE ON VARIOUS PUBLIC WEBSITES INCLUDING IRS.GOV, GUIDESTAR AND PROPUBLICA. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S DISCRETION. THE ACTORS' FUND OF AMERICA 729 SEVENTH AVENUE 10TH FLOOR NEW YORK NY 10019 131635251 SOCIAL SERVICES NY 501(C)(3) LINE 7 N/A 0 ACTORS FUND HOUSING DEVELOPMENT CORP 729 SEVENTH AVENUE 10TH FLOOR NEW YORK NY 10019 800522071 HOUSING NY 501(C)(3) LINE 7 ACTORS FUND 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0