2025-11-14T13:25:27-06:00 2024-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2024-01-01 822237366 BUDOKAN INC BUDO 2134733030 231 E THIRD STREET G-106 LOS ANGELES CA 90013 ERICH NAKANO SECRETARY 2134733030 2025-11-14 1 0 ROBERT J DOYLE JR P02365765 3178485700 2024 2025-03-06 01:10:19Z X ERICH NAKANO 231 E THIRD STREET G-106 LOS ANGELES CA 90013 297000 0 X WWW.TERASAKIBUDOKAN.ORG X 2017 CA TO PROVIDE A FACILITY IN DOWNTOWN LOS ANGELES FOR YOUTH, FAMILIES AND SENIORS THAT OFFERS SPORTS, COMMUNITY ACTIVITIES AND OPPORTUNITIES TO CONNECT VISITORS TO JAPANESE AMERICAN CULTURE AND TO A VIBRANT, SUSTAINABLE LITTLE TOKYO. 5 3 0 0 0 0 0 0 297000 297000 0 0 0 0 297000 297000 0 0 0 0 0 0 0 0 0 1368403 1389646 1368403 1389646 -1071403 -1092646 28597344 27506412 30482000 30482000 -1884656 -2975588 TO PROVIDE A FACILITY IN DOWNTOWN LOS ANGELES FOR YOUTH, FAMILIES AND SENIORS THAT OFFERS SPORTS, COMMUNITY ACTIVITIES AND OPPORTUNITIES TO CONNECT VISITORS TO JAPANESE AMERICAN CULTURE AND TO A VIBRANT, SUSTAINABLE LITTLE TOKYO. 0 0 1389419 297000 BUDOKAN, INC IS A MULTIPURPOSE COMMUNITY FACILITY. 1389419 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 0 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 3 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 CA X BOMEE KIM FAIN 2134733030 231 E THIRD STREET NO G-106 LOS ANGELES CA 90013 X BILL WATANABE CHAIR OF THE BOARD 1.00 X X 0 0 0 SILVIA YOSHIMIZU DIRECTOR 1.00 X 0 0 0 ALAN KOSAKA TREASURER 1.00 X X 0 0 0 KEITH TERASAKI DIRECTOR 1.00 X 0 0 0 ERICH NAKANO SECRETARY 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 LEASE INCOME 531190 297000 297000 297000 297000 297000 0 0 1330 1330 111797 111797 367956 367956 908236 908236 ADMINISTRATIVE 227 227 OTHER EXPENSES 100 100 1389646 1389419 227 0 544713 360303 30064497 3852019 27084633 26212478 967998 933631 28597344 27506412 0 0 30482000 30482000 30482000 30482000 X -1884656 -2975588 -1884656 -2975588 28597344 27506412 X -1092646 1714 X 0 1 X 0 0 X X 1 LTSC COMMUNITY DEVELOPMENT CORPORATION 954444102 10 1 0 0 1 0 0 0.02020 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 26233716 2896640 23337076 3335317 736549 2598768 495464 218830 276634 26212478 X 297000 0 297000 0 297000 1387933 0 1387933 1713 1713 1389646 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 ACCOMPANYING CONSOLIDATED 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 DECEMBER 31, 2024 AND 2023, THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DIFFERENCE - ORGANIZATION COSTS FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL, OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON HAS RECEIVED, READ AND UNDERSTANDS, AND HAS AGREED TO COMPLY WITH BUDOKAN, INC'S CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 BUDOKAN, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: BOOK/TAX DIFFERENCE - ORGANIZATION COSTS 1,714. PAGE 1, APPLICATION PENDING THE ORGANIZATION HAS FILED FORM 8940, REQUEST FOR MISCELLANEOUS DETERMINATION, TO CHANGE THE TYPE OF A SECTION 509(A)(3) ORGANIZATION TO A TYPE I SUPPORTING ORGANIZATION. THE ORGANIZATION IS CONTINUING TO FILE FORM 990 IN ACCORDANCE WITH THE FORM 990 AND FORM 8940 INSTRUCTIONS WHILE THE IRS REVIEWS THE REQUEST. THE ORGANIZATION HAS CHECKED BOX 12A ON SCHEDULE A, PART I BASED ON THE ASSUMPTION THAT THE REQUEST WILL BE APPROVED. AS OF THE DATE THAT THE 2024 TAX RETURN WAS FILED, THE ORGANIZATION HAS NOT RECEIVED A DETERMINATION FROM THE IRS. LTSC COMMUNITY DEVELOPMENT CORPORATION 231 E THIRD STREET NO G-106 LOS ANGELES CA 90013 954444102 SOCIAL WELFARE AND COMMUNITY DEVELOPMENT ACTIVITIES CA 501(C)(3) LINE 10 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 LTSC COMMUNITY DEVELOPMENT CORPORATION J 297000 CASH