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Nonprofit · EIN 95-4444102

LTSC COMMUNITY DEVELOPMENT CORPORATION

Tax-exempt · LOS ANGELES, CA 90013

Financials

$22.3M$16M2023$27.5M$18.9M2024
Revenue Expenses · by fiscal year end
Financials of LTSC COMMUNITY DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$27,521,241$18,939,588$8,581,653$187,942,341$128,683,603$59,258,738
December 31, 2023990$22,256,319$15,986,199$6,270,120$126,635,879$78,269,529$48,366,350
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$19,107,650
of which government grants
$7,265,605
Program service revenue
$8,243,517
Investment income
$0
Net income from fundraising events
$407,049
Other revenue
$170,074

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$7,595,672
Salaries, compensation and benefits (total)
$9,577,891
Professional fundraising fees
$0
Accounting fees
$35,053
Occupancy
$1,540,606
Travel
$102,327
Depreciation
$114,809
Program services (functional)
$16,533,242
Management and general (functional)
$1,802,372
Fundraising (functional)
$603,974

Balance sheet and other

Total assets, start of year
$126,635,879
Total assets, end of year
$187,942,341
Total liabilities, end of year
$128,683,603
Net assets, end of year
$59,258,738
Land, buildings and equipment
$16,594,895
Publicly traded securities
$6,247,215
Net assets without donor restrictions
$45,176,752
Net assets with donor restrictions
$14,081,986
Gross receipts
$27,741,497
Employees
145
Volunteers
0
Year formed
1993
State of legal domicile
CA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
ERICH NAKANOEXECUTIVE DIRECTOR
Officer
40$172,127
TAKAO SUZUKIHIGH COMPENSATED EMPLOYEE
Highest-paid employee
40$163,110
DEBBIE CHENHIGH COMPENSATED EMPLOYEE
Highest-paid employee
40$132,977
TADAO PETER GEEHIGH COMPENSATED EMPLOYEE
Highest-paid employee
40$132,927
BOMEE FAINCFO
Officer
40$131,686
CLAIRE KITAYAMAPRESIDENT
Trustee or director, Officer
1.5$0
MIGUEL NUNEZVICE PRESIDENT
Trustee or director, Officer
0.8$0
JEFFRY YONEMURATREASURER
Trustee or director, Officer
0.8$0
JESSICA CHANGSECRETARY
Trustee or director, Officer
0.8$0
DICK KAKUBOARD MEMBER
Trustee or director
1.5$0
EDWIN TAKAHASHIBOARD MEMBER
Trustee or director
0.8$0
KATHY MASAOKABOARD MEMBER
Trustee or director
0.8$0
KELSEY IINOBOARD MEMBER
Trustee or director
0.8$0
KEITH TERASAKIBOARD MEMBER
Trustee or director
0.8$0
DENNIS ARGUELLESBOARD MEMBER
Trustee or director
0.8$0
16 more people on this return
NameTitleHours / weekCompensation
JEFF SCHAFFERBOARD MEMBER
Trustee or director
0.8$0
KIRA CONLONBOARD MEMBER
Trustee or director
0.8$0
KAREN UMEMOTOBOARD MEMBER
Trustee or director
0.8$0
KELLY TAKASUBOARD MEMBER
Trustee or director
0.8$0
BETTY AVILABOARD MEMBER
Trustee or director
0.8$0
BIBIANA ROSALIABOARD MEMBER
Trustee or director
0.8$0
CHRIS AIHARABOARD MEMBER
Trustee or director
0.8$0
DAE JOONG YOONBOARD MEMBER
Trustee or director
0.8$0
MARY ANN TAKEMOTOBOARD MEMBER
Trustee or director
0.8$0
NOELLE ITOBOARD MEMBER
Trustee or director
0.8$0
PERLA ESTONBOARD MEMBER
Trustee or director
0.8$0
SID KATOBOARD MEMBER
Trustee or director
0.8$0
MARIA AHVERDYANBOARD MEMBER
Trustee or director
0.8$0
DAVID HOWDENBOARD MEMBER
Trustee or director
0.8$0
KEVIN OYAMABOARD MEMBER
Trustee or director
0.8$0
HELEN OTABOARD MEMBER
Trustee or director
0.8$0
990 for the year ended December 31, 2023: 31 people
NameTitleHours / weekCompensation
ERICH NAKANOEXECUTIVE DIRECTOR
Officer
40$162,186
TAKAO SUZUKIHIGH COMPENSATED EMPLOYEE
Highest-paid employee
40$150,840
DEBBIE CHENHIGH COMPENSATED EMPLOYEE
Highest-paid employee
40$145,856
MARGARET SHIMADAHIGH COMPENSATED EMPLOYEE
Highest-paid employee
40$127,057
BOMEE FAINCFO
Officer
40$118,504
DICK KAKUBOARD MEMBER
Trustee or director
1.5$0
MIGUEL NUNEZVICE PRESIDENT
Trustee or director, Officer
0.8$0
CLAIRE KITAYAMAPRESIDENT
Trustee or director
1.5$0
EDWIN TAKAHASHIBOARD MEMBER
Trustee or director
0.8$0
KATHY MASAOKABOARD MEMBER
Trustee or director
0.8$0
GEORGE TANAKABOARD MEMBER
Trustee or director
0.8$0
AKEMI ARAKAKIBOARD MEMBER
Trustee or director
0.8$0
KELSEY IINOBOARD MEMBER
Trustee or director
0.8$0
KEITH TERASAKIBOARD MEMBER
Trustee or director
0.8$0
DENNIS ARGUELLESBOARD MEMBER
Trustee or director
0.8$0
MARK USUIBOARD MEMBER
Trustee or director
0.8$0
JESSICA CHANGSECRETARY
Trustee or director
0.8$0
JEFF SCHAFFERBOARD MEMBER
Trustee or director
0.8$0
KIRA CONLONBOARD MEMBER
Trustee or director
0.8$0
KAREN UMEMOTOBOARD MEMBER
Trustee or director
0.8$0
KIRK SASAKIBOARD MEMBER
Trustee or director
0.8$0
KELLY TAKASUBOARD MEMBER
Trustee or director
0.8$0
JEFFRY YONEMURATREASURER
Trustee or director, Officer
0.8$0
BETTY AVILAMEMBER
Trustee or director
0.8$0
BIBIANA ROSALIAMEMBER
Trustee or director
0.8$0
CHRIS AIHARAMEMBER
Trustee or director
0.8$0
DAE JOONG YOONMEMBER
Trustee or director
0.8$0
MARY ANN TAKEMOTOMEMBER
Trustee or director
0.8$0
NOELLE ITOMEMBER
Trustee or director
0.8$0
PERLA ESTONMEMBER
Trustee or director
0.8$0
SID KATOMEMBER
Trustee or director
0.8$0

Address and contacts

Address (IRS master file)
231 E 3RD ST STE G106, LOS ANGELES, CA 90013-1493
In care of
% BILL WATANABE
Principal officer (990 for 2024)
BOMEE KIM FAIN, 231 EAST THIRD ST G106, LOS ANGELES, CA 90013
Signed the 990
BOMEE KIM FAIN, CFO
Phone
(213) 473-3030
Return prepared by
DAUBY O'CONNOR & ZALESKI LLC

California records

California keeps its own records of charities and corporations. Search them by EIN 95-4444102 or by the name LTSC COMMUNITY DEVELOPMENT CORPORATION.

Attorney General, Registry of Charities and Fundraisers
Registration status and filed reports (CT-TR-1, RRF-1)

Mission

THE PURPOSE OF THE ORGANIZATION IS TO PLAN, PROMOTE AND SUPPORT COMMUNITY DEVELOPMENT ACTIVITIES WHICH PRESERVE THE JAPANESE AMERICAN AND MULTI-ETHNIC CULTURE AND HISTORY OF LITTLE TOKYO AND CONTRIBUTE TO ITS PHYSICAL, SOCIAL, CULTURAL AND ECONOMIC REVITALIZATION; TO SERVE AS A RESOURCE FOR SIMILAR COMMUNITY ECONOMIC DEVELOPMENT EFFORTS IN OTHER LOW-INCOME COMMUNITIES, PARTICULARLY ASIAN AND PACIFIC ISLANDER COMMUNITIES; AND TO DEVELOP, PROVIDE AND MAINTAIN AFFORDABLE HOUSING AND HOUSING-RELATED SERVICES IN THE LITTLE TOKYO AREA AND IN THE GREATER LOS ANGELES METROPOLITAN AREA FOR THE BENEFIT OF LOW TO MODERATE INCOME PEOPLE.

990 for the year ended December 31, 2024

Program accomplishments

  • PROMOTED COMMUNITY ECONOMIC DEVELOPMENT THROUGH DEVELOPING, PROVIDING, AND MAINTAINING AFFORDABLE HOUSING; WORKED TO PRESERVE THE UNIQUE CULTURAL LEGACY AND LIFE OF THE LITTLE TOKYO COMMUNITY BY ACQUIRING AND RENOVATING FOUR OF THE 15 BUILDINGS IN THE LITTLE TOKYO HISTORIC DISTRICT ON FIRST STREET; PROVIDED SERVICES TO RESIDENTS OF THE ORGANIZATION'S AFFORDABLE HOUSING BUILDINGS IN THE IMMEDIATE DOWNTOWN LOS ANGELES AREA
    Expenses $4,288,221 · revenue $5,405,201
  • PROVIDED MULTILINGUAL SOCIAL SERVICES; ORIGINALLY FOUNDED TO SERVE MONOLINGUAL JAPANESE LIVING IN LITTLE TOKYO, THE ORGANIZATION CONTINUED TO SERVE THIS POPULATION AND HAS EXPANDED TO SERVE THE JAPANESE AMERICAN POPULATION THROUGHOUT SOUTHERN CALIFORNIA, AS WELL AS OTHER ASIAN IMMIGRANT POPULATIONS IN LOS ANGELES. SERVICES HAVE EXPANDED TO CHILDREN, YOUTH, YOUNG ADULT AND ADULT POPULATIONS. THE HOMELESS SERVICES PROGRAM IS FOCUSED ON PROVIDING DIRECT SERVICES TO UNHOUSED PEOPLE IN LITTLE TOKYO AND THE SURROUNDING NEIGHBORHOODS THROUGH OUTREACH AND ENGAGEMENT, CASE MANAGEMENT, SERVICE REFERRAL AND HOUSING NAVIGATION.
    Expenses $3,119,525 · revenue $996,214
  • WORKED WITH LITTLE TOKYO RESIDENTS AND STAKEHOLDERS TO IMPROVE THE COMMUNITY AND REPRESENT THEIR VOICES IN THE ONGOING DEVELOPMENT OF THE NEIGHBORHOOD; DEVELOPED AND MANAGED A MULTI-PURPOSE SPORTS AND ACTIVITIES CENTER TO PROVIDE A FACILITY WHERE YOUTH AND FAMILIES CAN CONGREGATE AND ENGAGE IN MEANINGFUL ACTIVITIES THAT EMPHASIZE SPORTSMANSHIP, TEAMWORK, DIVERSITY AND HEALTHY-LIVING; SERVED AS THE FISCAL SPONSOR FOR A NUMBER OF PROGRAMS, OFFERING TECHNICAL ASSISTANCE, AS WELL AS MANAGEMENT AND ADMINISTRATIVE SUPPORT TO HELP THE PROGRAMS FULFILL THEIR RESPECTIVE GOALS AND MISSIONS.ADMINISTERED SUBSIDIZED, HIGH QUALITY CHILD CARE FOR PRIMARILY LOW-INCOME FAMILIES WITH CHILDREN AGES SIX WEEKS TO FIVE YEARS OLD. THE FAMILY CHILD CARE PROGRAM INVOLVES HOME-BASED PROVIDERS WHO SERVICE NEWBORNS AND TODDLERS, AND ANGELINA PRESCHOOL SERVICES THREE TO FIVEYEAR-OLDS. THE PROGRAMS ARE DEVELOPMENTAL, CHILD-ORIENTED, SERVICE PROGRAM COSTS OF OTHER, NON-CHILDCARE, RELATED PROGRAMS, PARENT-FRIENDLY AND STAFFED BY SKILLED PROFESSIONALS.
    Expenses $9,125,496 · revenue $1,605,127

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
95-4444102
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1994
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$187,942,341
Income (IRS master file)
$27,741,497

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$27,521,241$18,939,588$187,942,341XML
990December 2023$22,256,319$15,986,199$126,635,879XML
990December 2022$23,573,245$13,882,380$83,519,714IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 95-4444102).

Questions about LTSC COMMUNITY DEVELOPMENT CORPORATION

What is the EIN of LTSC COMMUNITY DEVELOPMENT CORPORATION?
The employer identification number (EIN) of LTSC COMMUNITY DEVELOPMENT CORPORATION is 95-4444102.
Is LTSC COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
Are donations to LTSC COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does LTSC COMMUNITY DEVELOPMENT CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of LTSC COMMUNITY DEVELOPMENT CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did LTSC COMMUNITY DEVELOPMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of LTSC COMMUNITY DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 names BOMEE KIM FAIN.
Who are the officers and directors of LTSC COMMUNITY DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 lists 31 people; 5 received compensation from the organization, the highest $172,127 (ERICH NAKANO, EXECUTIVE DIRECTOR).
How much revenue does LTSC COMMUNITY DEVELOPMENT CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $27,521,241, expenses of $18,939,588 and total assets of $187,942,341 at year end.

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