2025-10-20T07:37:33-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2024-01-01 042988263 ASIAN COMMUNITY DEVELOPMENT CORPORATION ASIA 6174822380 38 OAK STREET BOSTON MA 02111 ANGIE LIOU EXECUTIVE DIRECTOR 6174822380 2025-10-17 1 1 JOLANTA TUCK P01340068 7813803520 2025-10-16 2024 2025-03-06 01:10:19Z GEOFFREY WHY 38 OAK STREET BOSTON MA 02111 7063358 0 X WWW.ASIANCDC.ORG X 1987 MA THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP. 14 14 15 100 0 0 2286753 1594514 2446222 2683412 189390 296979 146140 210964 5068505 4785869 0 0 0 0 1140186 1285606 0 0 230843 2814565 2448217 3954751 3733823 1113754 1052046 37684634 43595108 13584000 18889348 24100634 24705760 X THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP. 0 0 1316371 2155409 THE ASIAN COMMUNITY DEVELOPMENT CORPORATION (ACDC) WORKS IN UNDERSERVED AND IMMIGRANT ASIAN AMERICAN COMMUNITIES IN THE GREATER BOSTON REGION TO CREATE AND PRESERVE AFFORDABLE, SUSTAINABLE, AND HEALTHY NEIGHBORHOODS. WE ACHIEVE THIS BY BUILDING AFFORDABLE HOMES AND VIBRANT SPACES, EMPOWERING FAMILIES WITH ASSET-BUILDING TOOLS, AND STRENGTHENING COMMUNITIES THROUGH RESIDENT AND YOUTH LEADERSHIP. ASIAN CDC'S WEBSITE PROVIDES A WEALTH OF INFORMATION AND VIDEOS ABOUT ITS PROGRAMS SEE THE 2024 ANNUAL REPORT AT HTTPS://ASIANCDC.ORG/OUR-WORK. THE BUILDING BLOCKS PROGRAM PROVIDES FINANCIAL EMPOWERMENT THROUGH HOME BUYING WORKSHOPS, FINANCIAL LITERACY TRAINING, MATCHED SAVINGS PROGRAM, AND 1 ON 1 HOUSING COUNSELING. 692060 621774 THE HOUSING DEVELOPMENT PROGRAM WORKS TO CREATE AND PRESERVE HIGH QUALITY AFFORDABLE HOUSING TO MEET THE NEEDS OF COMMUNITIES OF LOW-INCOME ASIAN AMERICAN POPULATIONS. ACDC NOW HAS 7 PROPERTIES IN ITS PORTFOLIO THAT INCLUDES 344 AFFORDABLE RENTALS. 736262 YOUTH PROGRAMS INCLUDE A HIGH SCHOOL LEADERSHIP PROGRAM, ASIAN VOICES OF ORGANIZED YOUTH FOR COMMUNITY EMPOWERMENT (A-VOYCE), TRAINING YOUTH IN COMMUNITY LEADERSHIP AND ORGANIZING IN CHINATOWN AND THE GREATER BOSTON AREA. YOUTH ALSO HAVE OPPORTUNITIES TO LEARN ABOUT CULTURAL IDENTITY, COMMUNITY DEVELOPMENT, AND UNDERTAKE PLACEKEEPING ACTIVITIES, WHICH INCLUDE RESIDENT-LED PUBLIC ART PROJECTS AND CULTURAL EVENTS ADDRESSING COMMUNITY POWER AND IMPACTS OF GENTRIFICATION. ASIAN-AMERICAN IDENTIFYING HIGH SCHOOL YOUTH LEARN ENTREPRENEURSHIP SKILLS AND APPLY THESE SKILLS THROUGH RUNNING THEIR OWN YOUTH-LED BUSINESS PROVIDING WALKING TOURS OF CHINATOWN AND OTHER PROJECTS. 2744693 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 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 1 0 0 0 1 108 0 1 15 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X ANGIE LIOU 6174822380 38 OAK STREET BOSTON MA 02111 DANIEL PARK DIRECTOR 1.00 X 0 0 0 DANIELLE KIM DIRECTOR 1.00 X 0 0 0 EMILY YU VICE CHAIR 1.00 X X 0 0 0 EUGENE HO TREASURER 1.00 X X 0 0 0 GEOFFREY WHY CHAIR 1.00 X X 0 0 0 HELEN HAN DIRECTOR (UNTIL 09/2024) 1.00 X 0 0 0 JARONE LEE DIRECTOR 1.00 X 0 0 0 JEFFREY HSI DIRECTOR 1.00 X 0 0 0 KAREN SOOHOO DIRECTOR 1.00 X 0 0 0 MAI DU DIRECTOR 1.00 X 0 0 0 MICHAEL S GRECO DIRECTOR 1.00 X 0 0 0 NICK CHAU DIRECTOR 1.00 X 0 0 0 PAUL W LEE DIRECTOR 1.00 X 0 0 0 VINCENT LAU ASST. CLERK 1.00 X X 0 0 0 YONGMEI CHEN ASST. TREASURER 1.00 X X 0 0 0 ANGIE LIOU EXECUTIVE DIRECTOR 35.00 X 134149 0 38928 134149 0 38928 1 0 1 0 ICON ARCHITECTURE 141 TREMONT ST 7TH FL BOSTON MA 02111 ARCHITECTURAL SERVICES 159790 1 850657 743857 1594514 LOAN INTEREST 531110 1338318 1338318 MANAGEMENT FEES 531110 887425 887425 RENTAL INCOME 531110 415976 415976 SERVICE REVENUE 531110 41693 41693 2683412 217572 217572 194992 77799 117193 117193 117193 2279097 2199690 79407 79407 79407 93771 93771 93771 4785869 2777183 0 414172 176205 174443 1762 896996 576513 153482 167001 18067 11155 4455 2457 115600 58673 36567 20360 78738 52906 13237 12595 47695 47695 9462 9462 170494 3941 166553 154729 154729 88897 46018 42879 84580 37102 33139 14339 17569 11514 3003 3052 651066 638623 10242 2201 10010 8353 946 711 12249 7244 3294 1711 271178 263313 3901 3964 10794 8076 2718 BAD DEBT 644407 531980 112427 PROGRAM EXPENSES 253470 251218 2252 MEMBERSHIP AND SUBSCRIP 10022 21 9801 200 11595 6443 5152 3733823 2744693 758287 230843 1090033 478680 2025384 2601495 238231 394347 13033811 13366638 28396 35805 15978362 1155760 12987521 14822602 3582908 3893359 569708 510404 4128642 7491778 37684634 43595108 320377 1959839 3303 4115 52335 62094 12595634 16308984 612351 554316 13584000 18889348 X 23871184 24404164 229450 301596 24100634 24705760 37684634 43595108 1052046 123154 -570074 0 X 0 1 X 1 0 X 1549211 2137829 1665230 2286753 1594514 9233537 1549211 2137829 1665230 2286753 1594514 9233537 9233537 109215 92017 118224 357176 412564 1089196 134935 170970 11502 32062 93771 443240 10765973 10018551 0.85770 0.85670 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 134,935. 2021 AMOUNT: $ 170,970. 2022 AMOUNT: $ 11,502. 2023 AMOUNT: $ 32,062. 2024 AMOUNT: $ 93,771. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 6601889 6601889 9302684 1139918 8162766 2622 2622 0 71167 13220 57947 14822602 DUE FROM AFFILIATES 1948537 CONSTRUCTION IN PROGRESS 5058382 FUNDED RESERVES 157422 TENANT SECURITY DEPOSITS 67634 INVESTMENT IN LIMITED LIABILITY COMPANIES (LLCS) 259803 7491778 RIGHT OF USE LIABILITY 554316 554316 X PART IV, LINE 2B: THE ESCROW LIABILITY AMOUNTS OF FORM 990, PART X, LINE 21 CONSIST OF TENANT SECURITY DEPOSITS, WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE REFUNDED TO THE TENANT UPON TERMINATION OF THE LEASE. PART X, LINE 2: INCOME TAX RETURNS FILED BY ACDC AND ITS SUBSIDIARIES ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2021 REMAIN OPEN. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. X 0 0 0 0 0 0 0 0 0 ANGIE LIOU EXECUTIVE DIRECTOR 134149 0 0 0 0 0 3821 0 35107 0 173077 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 ACDC MARTENSEN VILLAGE HOLDING LLC (MVLLC) HAS ENTERED INTO AN AGREEMENT FOR THE MANAGEMENT OF THE PROJECT WITH AN UNRELATED THIRD PARTY. THE AGREEMENT IS FOR AN INITIAL TERM OF ONE YEAR AND CONTINUES THEREAFTER UNLESS TERMINATED BY EITHER PARTY. ADDITIONALLY, THE AGREEMENT IS TERMINABLE BY THE COMPANY FOR CAUSE WITH 30 DAYS NOTICE. THE AGREEMENT PROVIDES FOR A MANAGEMENT FEE EQUAL TO A PERCENTAGE OF GROSS REVENUES, AS DEFINED, PAYABLE MONTHLY. DURING 2024, MANAGEMENT FEES OF $16,275 WERE INCURRED. FORM 990, PART VI, SECTION A, LINE 6 ORGANIZATION HAS DOMESTIC MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ORGANIZATION MEMBERS DO ELECT MEMBERS FOR GOVERNING BOARD. FORM 990, PART VI, SECTION A, LINE 7B MAJOR DECISIONS ARE DECIDED BY GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WAS REVIEWED BY ADMIN PERSONNEL AND BOARD FINANCE COMMITTEE. A COPY WAS PROVIDED TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ACDC REQUIRES ALL BOARD MEMBERS TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE ON AN ANNUAL BASIS, ANY DISCLOSURE OF POTENTIAL CONFLICT IS DISCUSSED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCESS FOR TOP OFFICIAL COMPENSATION IS DETERMINED BY THE GOVERNING BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION GOVERNING DOCS AND RETURNS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. HUDSON STREET REVIVAL LLC 38 OAK STREET BOSTON MA 02111 000955891 HOUSING SUPPORT MA 0 0 ACDC ACDC OAK TERRACE LAND LLC 38 OAK STREET BOSTON MA 02111 HOUSING SUPPORT MA 3425539 15895805 ACDC ACDC MARTENSEN VILLAGE HOLDING LLC 38 OAK STREET BOSTON MA 02111 824631831 HOUSING SUPPORT MA 327082 2935247 ACDC ACDC METROPOLITAN MM LLC 38 OAK STREET BOSTON MA 02111 HOUSING SUPPORT MA 0 0 ACDC ACDC METROPOLITAN IM LLC 38 OAK STREET BOSTON MA 02111 HOUSING SUPPORT MA 10926 302239 ACDC ACDC 64 BEACH LLC 38 OAK STREET BOSTON MA 02111 HOUSING SUPPORT MA 500455 8120906 ACDC ACDC 213 MAIN STREET LLC 38 OAK STREET BOSTON MA 02111 HOUSING SUPPORT MA 1320 1333645 ACDC ACDC 245 BRYANT LLC 38 OAK STREET BOSTON MA 02111 001716172 HOUSING SUPPORT MA 0 2044079 ACDC ACDC 55 HUDSON DEVELOPMENT LLC 38 OAK STREET BOSTON MA 02111 HOUSING SUPPORT MA 0 0 ACDC ACDC FORT STREET LLC 38 OAK STREET BOSTON MA 02111 263319550 REAL ESTATE MA N/A 0 0 ACDC TREMONT VILLAGE LLC 38 OAK STREET BOSTON MA 02111 364783399 REAL ESTATE MA N/A 0 0 HUDSON STREET GATEWAY LLC 38 OAK STREET BOSTON MA 02111 800930689 REAL ESTATE MA N/A 0 0 ACDC OAK TERRACE APARTMENTS LLC 38 OAK STREET BOSTON MA 02111 384010691 REAL ESTATE MA N/A 0 0 METRO COMMUNITY LLC 536 GRANITE STREET BRAINTREE MA 02184 043649835 REAL ESTATE MA ACDC METROPOLITAN MM LLC 0 1 1.00000 ACDC FORT ST MM LLC 38 OAK STREET BOSTON MA 02111 272746012 REAL ESTATE MA ACDC C 71 0.79000 1 ACDC TREMONT VILLAGE MM LLC 38 OAK STREET BOSTON MA 02111 465346551 REAL ESTATE MA ACDC C 0.79000 1 HUDSON STREET GATEWAY MM LLC 38 OAK STREET BOSTON MA 02111 811152554 REAL ESTATE MA ACDC C 1.00000 1 ACDC OAK TERRACE APARTMENTS MM LLC 38 OAK STREET BOSTON MA 02111 813476746 REAL ESTATE MA ACDC C 0.55000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0