2024-11-15T18:49:18-06:00 2023-12-31 330700332 VASQUEZ COMPANY LLP 655 N CENTRAL AVE STE 1550 GLENDALE CA 91203 990 2023-01-01 954459427 LOS ANGELES ALLIANCE FOR A NEW ECONOMY LOSA 2139779400 464 LUCAS AVENUE 202 LOS ANGELES CA 900172074 VICTOR SANCHEZ EXECUTIVE DIRECTOR 2139779400 2024-11-15 1 0 REGINA L PRINCE CPA P00576936 2138731700 2023 2024-10-15 13:58:12Z VICTOR SANCHEZ 464 LUCAS AVENUE 202 LOS ANGELES CA 900172074 4058517 0 X WWW.LAANE.ORG X 1993 CA LOS ANGELES ALLIANCE FOR A NEW ECONOMY (LAANE) IS A LEADING ADVOCACY ORGANIZATION DEDICATED TO BUILDING A NEW ECONOMY FOR ALL. COMBINING DYNAMIC RESEARCH, INNOVATIVE PUBLIC POLICY, AND THE ORGANIZING OF BROAD ALLIANCES, LAANE PROMOTES A NEW ECONOMIC APPROACH BASED ON GOOD JOBS, THRIVING COMMUNITIES, AND A HEALTHY ENVIRONMENT. 18 18 48 18 0 0 6100867 3538373 142823 120987 6786 28196 0 0 6250476 3687556 409075 94339 0 0 3154554 3661819 0 0 479164 568590 737306 4132219 4493464 2118257 -805908 9517343 9442676 3112524 3840286 6404819 5602390 X TO IMPROVE THE SKILLS, WAGES, AND WORKING CONDITIONS OF WORKERS IN THE TOURISM INDUSTRY AND TO ASSURE THAT THE BENEFITS OF TOURISM CONTRIBUTE EQUITABLY TO THE ECONOMIC AND SOCIAL DEVELOPMENT OF ALL COMMUNITIES IN THE GREATER LOS ANGELES AREA. THE COUNCIL WILL PAY PARTICULAR ATTENTION TO IMMIGRANT WORKERS, WHO COMPRISE MOST OF THOSE EMPLOYED IN THE HOTELS, AMUSEMENT PARKS, RESTAURANTS, RETAIL, AND OTHER SERVICE SECTORS ASSOCIATED WITH TRAVEL AND TOURISM. 0 0 3602320 94339 120987 SEE SCHEDULE O 3602320 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 71 0 1 48 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 CA X YOMARA ARRIVILLAGA 2139779400 464 LUCAS AVENUE STE 202 LOS ANGELES CA 900172074 JOHN GRANT BOARD MEMBER 2.00 X X 0 0 0 KURT PETERSON SECRETARY 2.00 X 0 0 0 KENT WONG CHAIR 2.00 X X 0 0 0 PETER DREIER BOARD MEMBER 2.00 X 0 0 0 NEIDI DOMINGUEZ BOARD MEMBER 2.00 X 0 0 0 EDDIE INY BOARD MEMBER 2.00 X 0 0 0 CYNTHIA STRATHMANN BOARD MEMBER 2.00 X 0 0 0 TONIA URANGA BOARD MEMBER 2.00 X 0 0 0 MANUEL PASTOR BOARD MEMBER 2.00 X 0 0 0 DAVID PETTIT BOARD MEMBER 2.00 X 0 0 0 ANGELICA SALAS BOARD MEMBER 2.00 X 0 0 0 DANNY TABOR BOARD MEMBER 2.00 X 0 0 0 MANNY VALENZUELA BOARD MEMBER 2.00 X 0 0 0 STEPHANIE VON SLOMSKI BOARD MEMBER 2.00 X 0 0 0 SHAWN MCCLOUD BOARD MEMBER 2.00 X 0 0 0 GLORIA MEDINA BOARD MEMBER 2.00 X 0 0 0 CECILIA ESTOLANO BOARD MEMBER 2.00 X 0 0 0 DEREK SMITH BOARD MEMBER 2.00 X 0 0 0 KATHY FINN BOARD MEMBER 2.00 X 0 0 0 PETER PALANDJIAN BOARD MEMBER 2.00 X 0 0 0 ROXANA TYNAN EXECUTIVE DIRECTOR 40.00 X 129699 0 39552 YOMARA ARRIVILLAGA FINANCE DIRECTOR 40.00 X 108333 0 28112 ARELIA VALDIIVIA PROJECT DIRECTOR 40.00 X 130000 0 24095 JAMES ELMENDORF POLICY DIRECTOR 40.00 X 120046 0 18412 GINA PALENCAR DEVELOPMENT DIRECTOR 40.00 X 105833 0 27185 593911 0 137356 5 0 1 0 0 958772 2579601 3538373 PROGRAM FEES 813311 120987 120987 120987 28196 28196 370961 958772 370961 0 3687556 120987 0 28196 94339 94339 305694 250720 26289 28685 2655554 2194570 196908 264076 110615 88318 13780 8517 374654 299135 46673 28846 215302 182207 13267 19828 31456 19263 3887 8306 37639 23049 4652 9938 37245 37245 53 53 243985 134974 34755 74256 117775 58902 42675 16198 19502 19502 77357 59649 13269 4439 52055 49391 13 2651 32755 27905 4429 421 15869 14258 537 1074 RESEARCH MATERIALS & PU 19863 19863 INTERNET SERVICES 16720 16720 DIRECTORS COACHING AND 12473 11775 698 FUNDRAISING EXPENSES 11006 11006 11553 535 10793 225 4493464 3602320 411980 479164 2647463 2220488 5544001 5970933 1173087 1106956 119842 68380 45317 45317 0 0 11646 15292 21304 60627 9517343 9442676 209679 312262 14509 14509 2888336 3513515 3112524 3840286 X 2668121 2512491 3736698 3089899 6404819 5602390 9517343 9442676 -805908 0 X 0 1 X 1 0 X 3586452 5059266 4618406 6100867 3538373 22903364 3586452 5059266 4618406 6100867 3538373 22903364 5242579 17660785 6467 1644 1941 6786 28196 45034 306979 100396 165649 267756 370961 1211741 24160139 616725 0.73100 0.70680 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING GROSS INCOME - 2019 AMOUNT: $ 306,979. 2020 AMOUNT: $ 100,396. 2021 AMOUNT: $ 165,649. 2022 AMOUNT: $ 267,756. 2023 AMOUNT: $ 370,961. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10434 26811 37245 3565076 3602321 330116 82529 0 0 279647 339795 316447 330116 1266005 1899008 81077 42630 46936 37245 207888 69912 84949 79112 82529 316502 474753 21803 12171 7047 10434 51455 8885 8885 0 36432 36432 0 0 DUE TO TRUST ACCOUNT 3462088 OPERATING LEASE LIABILITY 51427 3513515 X 3691035 3479 3479 3687556 0 3687556 4493464 0 4493464 0 4493464 PART X, LINE 2: LAANE IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. ACCORDINGLY, NO PROVISIONS FOR INCOME TAXES OR RELATED CREDITS ARE INCLUDED IN THESE FINANCIAL STATEMENTS. LAANE APPLIED THE PROVISIONS FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ON DECEMBER 31, 2023 AND 2022. AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, LAANE HAD NO UNRECOGNIZED TAX BENEFITS, TAX PENALTIES OR INTEREST. LAANE'S INCOME TAX RETURNS REMAIN SUBJECT TO EXAMINATION FOR ALL TAX YEARS ENDED ON OR AFTER DECEMBER 31, 2019, WITH REGARD TO ALL TAX POSITIONS AND RESULTS REPORTED. WOMEN'S LUNCH 255582 184282 71300 71301 DINNER 1074151 774490 299661 133104 2500 164056 1329733 958772 370961 204405 2500 164056 370961 0 1 WORKING PARTNERSHIP USA 2302 ZANKER ROAD SAN JOSE CA 95131 770387535 501(C)(3) 75000 0 TO WORK WITH ORGANIZERS IN THE FIELD TO UNDERSTAND AND DEVELOP THEORIES OF CHANGE FOR MORE TANGIBLE GAINS ON BEHALF OF WORKERS 1 0 PART I, LINE 2: THE ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS INCLUDE OBTAINING REPORTS THAT SUPPORT THE BUDGETED AMOUNTS SUBMITTED WITH THE GRANT REQUEST AND ARE SPENT ACCORDINGLY. 0 0 0 0 0 0 0 0 0 ROXANA TYNAN EXECUTIVE DIRECTOR 129699 0 0 0 0 0 6638 0 32914 0 169251 0 0 0 ARELIA VALDIIVIA PROJECT DIRECTOR 130000 0 0 0 0 0 5417 0 18678 0 154095 0 0 0 FORM 990, PART III, LINE 4A FOUNDED IN 1993, LAANE (LOS ANGELES ALLIANCE FOR A NEW ECONOMY) IS A NATIONALLY RECOGNIZED ADVOCACY ORGANIZATION DEDICATED TO BUILDING A NEW ECONOMY FOR ALL. COMBINING DYNAMIC RESEARCH, INNOVATIVE PUBLIC POLICY, AND STRATEGIC ORGANIZING OF BROAD ALLIANCES, LAANE PROMOTES A NEW ECONOMIC APPROACH BASED ON GOOD JOBS, THRIVING COMMUNITIES, AND A HEALTHY ENVIRONMENT. FOR THE PAST 30 YEARS, LAANE HAS BEEN AT THE FOREFRONT OF LOS ANGELES' PROGRESSIVE MOVEMENT, TRANSFORMING CONDITIONS IN KEY INDUSTRIES AND IMPROVING THE LIVES OF HUNDREDS OF THOUSANDS OF WORKING FAMILIES IN SOUTHERN CALIFORNIA. LAANE'S GROUNDBREAKING POLICY WINS AND A NEW APPROACH TO ECONOMIC DEVELOPMENT HAVE BEEN A MODEL FOR SIMILAR EFFORTS ACROSS THE COUNTRY. LAANE IS A CO-FOUNDER OF THE PARTNERSHIP FOR WORKING FAMILIES NOW KNOWN AS POWER SWITCH, A RAPIDLY GROWING NATIONAL ALLIANCE FIGHTING FOR GOOD JOBS AND HEALTHY COMMUNITIES IN NEARLY 20 MAJOR METROPOLITAN AREAS. OUR PROGRAM SERVICE ACCOMPLISHMENTS INCLUDE PROJECTS SUCH AS: HOTELS TRANSFORMING THE LONG BEACH TOURISM INDUSTRY INTO AN ENGINE FOR GOOD JOBS AND HEALTHY COMMUNITIES. LAANE IS WORKING TO ENSURE THAT THE LONG BEACH TOURISM INDUSTRY PROVIDES GOOD JOBS, STRENGTHENS COMMUNITIES, AND OFFERS A FAIR RETURN ON THE PUBLIC'S INVESTMENT. LAANE BELIEVES THAT THE LONG BEACH HOTEL INDUSTRY CAN AND MUST INVEST MORE IN ITS WORKFORCE SO IT WILL GUARANTEE LONG-TERM SUCCESS, BENEFIT RESIDENTS AND BUSINESSES ALIKE, AND CREATE MORE JOBS THAT CAN SUPPORT LONG BEACH FAMILIES. RETAIL AND FAIR SCHEDULING SHOP WELL LA FAIR WORKWEEK LA IS A COALITION OF LABOR, COMMUNITY GROUPS, HEALTH ADVOCATES, AND RETAIL WORKERS FIGHTING FOR A FAIR WORKWEEK IN THE CITY OF LOS ANGELES. LAANE ADVOCATES A COMPREHENSIVE POLICY FOR RETAIL WORKERS TO HAVE A FAIR SCHEDULE. THE RETAIL INDUSTRY IS THE SECOND LARGEST EMPLOYER IN LOS ANGELES, WITH OVER 140,000 RETAIL WORKERS IN THE CITY. LOS ANGELES NEEDS TO FIGHT FOR A COMPREHENSIVE FAIR WORKWEEK POLICY TO MAKE RETAIL WORK MORE JUST FOR THESE THOUSANDS OF WORKERS. LAANE WILL EXPAND ON WHAT OTHER CITIES HAVE DONE AND CREATE A MODEL FOR OTHER CITIES TO FOLLOW. PORTS LAANE IS HELPING THOUSANDS OF PORT TRUCK DRIVERS AT SOUTHERN CALIFORNIA PORTS END MISCLASSIFICATION AND WAGE THEFT AND CREATING GOOD JOBS, HEALTHY COMMUNITIES, AND A SUSTAINABLE ENVIRONMENT AT THE PORTS OF L.A. AND LONG BEACH. LAANE'S CLEAN AND SAFE PORTS PROJECT BRINGS TOGETHER TWO OF THE MOST IMPORTANT CAUSES: THE EFFORT TO TRANSFORM LOW-PAYING JOBS INTO MIDDLE-CLASS CAREERS AND THE MOVEMENT FOR AN ENVIRONMENTALLY SUSTAINABLE FUTURE. THE CENTERPIECE OF THIS PROJECT - THE GROUNDBREAKING CLEAN TRUCKS PROGRAM - PROMISES TO LIFT THOUSANDS OF WORKERS OUT OF POVERTY WHILE DRAMATICALLY REDUCING POLLUTION IN PORT COMMUNITIES. NURSING HOMES LAANE, IN PARTNERSHIP WITH SERVICE EMPLOYEES INTERNATIONAL UNION (SEIU) 2015 AND WITH OVER 40 ORGANIZATIONS ACROSS LOS ANGELES COUNTY, LAUNCHED THE QUALITY CARE COALITION TO RAISE STANDARDS AT NURSING HOMES BY ENSURING IMPROVEMENT OF WORKING CONDITIONS AND A HIGHER STANDARD OF CARE FOR RESIDENTS. THIS WILL IDENTIFY, ACTIVATE, AND MOBILIZE COMMUNITY MEMBERS AND WORKERS WITH CONNECTIONS TO LONG-TERM CARE TO WIN POLICY CHANGE AT THE STATE AND LOCAL LEVEL. REPOWER LA LAANE IS LEADING THE EFFORT TO EXPAND ENERGY EFFICIENCY PROGRAMS THAT PROVIDE CAREER-PATH JOBS AND INCREASE INVESTMENT IN RENEWABLE ENERGY SOURCES TO HELP LOW-INCOME CUSTOMERS SAVE MONEY ON THEIR UTILITY BILLS. REPOWER LA'S PLAN WOULD PUT ANGELENOS BACK TO WORK IN GOOD, CAREER-PATH JOBS, LIFTING LOS ANGELES ECONOMY FROM THE BIGGEST ECONOMIC DOWNTURN THE COUNTRY HAS SEEN IN DECADES. REPOWER LA IS A COALITION OF COMMUNITY ORGANIZATIONS, ENVIRONMENTALISTS, UNIONS, SMALL BUSINESSES, AND FAITH-BASED LEADERS PROPOSING SOLUTIONS TO PUT ANGELENOS BACK TO WORK AND TURN THE LOS ANGELES DEPARTMENT OF WATER AND POWER (LADWP) INTO A GREENER, MORE MODERN UTILITY. AN EXPANDED BUILDING UPGRADE PROGRAM IS DRAWN FROM THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS (IBEW) LOCAL 18 AND THE LADWP'S TRAINEE PROGRAM. THESE JOBS WILL BE OPEN TO ALL LOS ANGELES RESIDENTS. THE LADWP AND ITS UNION ARE WORKING IN PARTNERSHIP WITH LOCAL COMMUNITIES, ORGANIZATIONS, TRAINING FACILITIES, AND REPOWER LA TO ENSURE THAT LOS ANGELES HARDEST HIT COMMUNITIES BENEFIT FROM THESE JOBS. OUR WATER LA LAANE IS A PROUD MEMBER OF THE OUR WATER LA COALITION, A GROUP OF COMMUNITY AND ENVIRONMENTAL ORGANIZATIONS WORKING ON WATER ISSUES TO IMPROVE STORMWATER CAPTURE AND GROUNDWATER RECHARGE IN L.A. COUNTY. WORKING CLOSELY WITH THE L.A. COUNTY FEDERATION OF LABOR AND THE LOS ANGELES/ORANGE COUNTY BUILDING TRADES COUNCIL, LAANE IS IDENTIFYING PROJECTS TO REDUCE STORM WATER POLLUTION AND IMPROVE THE LOCAL WATER RESILIENCE, WHILE ALSO CREATING GOOD CONSTRUCTION JOBS THAT BUILD STORM WATER INFRASTRUCTURE. WHILE WATER-FOCUSED ENVIRONMENTALISTS AND ENGINEERS ARE STUDYING HOW TO BEST APPROACH WATER INFRASTRUCTURE, LAANE, AS PART OF OUR WATER LA, IS WORKING WITH THEM TO ENSURE THAT JOBS AND JOB PATHWAYS PIPELINES, TARGETED HIRE, AND EQUITABLE OUTCOMES ARE INTEGRATED INTO THIS BALLOT MEASURE. LAANE IS ORGANIZING IN DIVERSE COMMUNITIES ACROSS L.A. COUNTY TO PUSH FOR EXTENSIVE OUTREACH AND ENGAGEMENT IN LOW-INCOME COMMUNITIES OF COLOR AND TO ENSURE THAT WATER PROJECTS IN LOWER-INCOME AREAS ARE GIVEN PRIORITY IN FUTURE BALLOT MEASURE CRITERIA. FORM 990, PART VI, SECTION B, LINE 11B LOS ANGELES ALLIANCE FOR A NEW ECONOMY'S CPA FIRM AND FINANCE STAFF PREPARE THE 990. THE FORM IS THEN REVIEWED AND APPROVED BY THE ORGANIZATION'S EXECUTIVE DIRECTOR AND FINANCE DIRECTOR. FOLLOWING THEIR REVIEW, A COMPLETE COPY IS PROVIDED TO THE FULL BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C LOS ANGELES ALLIANCE FOR A NEW ECONOMY'S (LAANE) CONFLICT OF INTEREST POLICY COVERS INTERESTED PERSONS DEFINED AS ANY DIRECTOR, MEMBER OF A BOARD COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS OR A MEMBER OF THE STAFF MANAGEMENT TEAM WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST AS DEFINED IN THE POLICY. AT THE TIME OF THEIR APPOINTMENT, A CONFLICT OF INTEREST STATEMENT IS REQUIRED TO BE EXECUTED. DUTY TO DISCLOSE. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON SHALL DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, SUCH PERSON SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST. 1) AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, SUCH PERSON LEAVES THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. 2) THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE, IF APPROPRIATE, APPOINTS A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. 3) AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE DETERMINESWHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. 4) IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE DETERMINES BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT MAKES ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15A LAANE'S BOARD OF DIRECTORS HAS A PROCESS FOR REVIEWING AND APPROVING THE COMPENSATION OF THE EXECUTIVE DIRECTOR ON A REGULAR BASIS TO DETERMINE WHETHER IT IS FAIR AND REASONABLE WITH THE GOAL OF RETAINING EMPLOYEES AT COMPENSATION LEVELS WITHIN THE APPROPRIATE MARKET RANGE. THE PROCESS FOR DETERMINING THE COMPENSATION PAID TO THE EXECUTIVE DIRECTOR INCLUDES THE APPROVAL OF THE COMPENSATION ARRANGEMENT IN ADVANCE, BY THE BOARD OF DIRECTORS, WITH ALL PERSONS WITH A CONFLICT OF INTEREST ABSTAINING FROM THE BOARD'S DELIBERATION AND DISCUSSION. THE BOARD REVIEWS COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES AT SIMILARLY SITUATED ENTITIES. THE DOCUMENTATION OF THE BOARD INCLUDES THE TERMS OF THE TRANSACTION AND THE DATE OF APPROVAL, THE MEMBERS WHO WERE PRESENT DURING THE DEBATE AND VOTE ON THE TRANSACTION, A DESCRIPTION OF THE COMPARABLE DATA AND HOW IT WAS OBTAINED, AND DOCUMENTATION OF THE BASIS FOR THE DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. HOWEVER, CURRENT TAX LAW DOES NOT REQUIRE GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS BE PROVIDED TO THE PUBLIC.