Civic Intelligence

CCDC Legacy Foundation

990 • Fiscal year 2019 • EIN 47-4785589

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

1525 Grant AvenueSan Francisco, CA 94133

(415) 984-1450

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

10th percentile

0.00x

Higher debt load relative to revenue than 10% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

98th percentile

87%

Higher net margin than 98% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

83rd percentile

$246,057

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 84.1% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

75th percentile

14%

Faster asset growth than 75% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

91st percentile

60%

Faster revenue growth than 91% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$7,385,392

Up $910,321 (+14%) from 2018

Net Assets

Up

$7,384,052

Up $910,654 (+14%) from 2018

Liabilities

Down

$1,340

Down $333 (-20%) from 2018

Revenue

Up

$292,450

Up $109,197 (+60%) from 2018

Expenses

Down

$37,482

Down $299,307 (-89%) from 2018

Net Income

Up

$254,968

Up $408,504 (+266%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2015: $6,689,024Liabilities 2015: $20,416Net Assets 2015: $6,668,6082015Assets 2016: $6,494,414Liabilities 2016: $18,305Net Assets 2016: $6,476,1092016Assets 2017: $7,157,747Liabilities 2017: $2,859Net Assets 2017: $7,154,8882017Assets 2018: $6,475,071Liabilities 2018: $1,673Net Assets 2018: $6,473,3982018Assets 2019: $7,385,392Liabilities 2019: $1,340Net Assets 2019: $7,384,0522019Assets 2020: $8,180,896Liabilities 2020: $5,499Net Assets 2020: $8,175,3972020Assets 2021: $9,037,559Liabilities 2021: $6,259Net Assets 2021: $9,031,3002021Assets 2022: $7,865,180Liabilities 2022: $8,874Net Assets 2022: $7,856,3062022Assets 2023: $8,677,538Liabilities 2023: $9,889Net Assets 2023: $8,667,6492023Assets 2024: $9,673,439Liabilities 2024: $12,949Net Assets 2024: $9,660,4902024

Highlighted filing

2019

Assets$7,385,392
Liabilities$1,340
Net Assets$7,384,052

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $6,629,389Expenses 2015: $32,819Net Income 2015: $6,596,5702015Revenue 2016: -$396,711Expenses 2016: $54,541Net Income 2016: -$451,2522016Revenue 2017: $233,833Expenses 2017: $40,046Net Income 2017: $193,7872017Revenue 2018: $183,253Expenses 2018: $336,789Net Income 2018: -$153,5362018Revenue 2019: $292,450Expenses 2019: $37,482Net Income 2019: $254,9682019Revenue 2020: $45,541Expenses 2020: $40,515Net Income 2020: $5,0262020Revenue 2021: $413,103Expenses 2021: $43,738Net Income 2021: $369,3652021Revenue 2022: $164,636Expenses 2022: $42,822Net Income 2022: $121,8142022Revenue 2023: $422,485Expenses 2023: $41,273Net Income 2023: $381,2122023Revenue 2024: $751,422Expenses 2024: $49,113Net Income 2024: $702,3092024

Highlighted filing

2019

Revenue$292,450
Expenses$37,482
Net Income$254,968
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$1,391,128
Mission and Program Overview

Mission

To support, benefit, and carry out the purposes of chinatown community development center, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,332,918$7,310,527▲ $977,609
Total Assets$6,475,071$7,385,392▲ $910,321
Other Assets Total$142,153$74,865▼ $67,288
Liabilities
Other Liabilities$1,673$1,340▼ $333
Total Liabilities$1,673$1,340▼ $333
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,473,398$7,384,052▲ $910,654
Total Net Assets Fund Balance$6,473,398$7,384,052▲ $910,654
Total Liabilities and Net Assets / Fund Balance$6,475,071$7,385,392▲ $910,321
Compensation and Service Providers

Board Members and Trustees

NameTitle
Gordon ChinChair
Cindy WuDeputy Director
Howard ChungDirector
Vivian Fei TsenDirector
Norman FongExecutive Director/preside
Howard AshlockSecretary
Gladys LamTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$292,450
Other Revenue
$0
Change in Net Assets
$254,968
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$36,719
Salaries, Compensation, and Employee Benefits$763
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$1,340-$1,340
Other Salaries and Wages$742--$742
Other Expenses$78--$78
Payroll Taxes$19--$19
Other Employee Benefits$2--$2
Total Functional Expenses$36,142$1,340$0$37,482
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Ccdc$1,340
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The board will review by e-mail and any questions/comments will be directed to the tax preparer

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy will be reviewed annually with the board and each member signs a form stating that they understand the policy and will abide by it.

Form 990, Part VI, Section C, Line 18

The documents are available upon request. The organization form 990 is also available at www.guidestar.org for public inspection.

Form 990, Part VI, Section C, Line 19

The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Ccdc Legacy Foundation
EIN
47-4785589
Phone
4159841450
Address
1525 GRANT AVENUE, SAN FRANCISCO, CA 94133

Signing Officer

Name
Malcolm Yeung
Title
President
Phone
4159841450
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gorden Chin
Formed
2015
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Lindquist Von Husen & Joyce Llp
Address
301 HOWARD STREET SUITE 850, SAN FRANCISCO, CA 94105
Preparer
Alexis H Wong
Phone
4159579999
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 2A & 2B; FORM 990, PART IX, LINE 7 TO LINE 10

The organization has no employees; salaries and wages reported in part ix, functional expenses, were reimbursements to chinatown community development center. The amount was listed to conform with the requirements of federal and/or state regulatory agency and/or lender on audited financial statements.

Form 990 Part XII, Line 2C

There is no change in the process.

Financial Statement Notes

PART X, LINE 2:

Ccdc and its tax-exempt subsidiaries are exempt from federal income tax and california franchise tax under provisions of section 501(c)(3) of the internal revenue code and section 23701d of the california code, respectively. However, the net income from commercial rental operations for some properties is debt-financed income and is therefore subject to income tax under internal revenue code section 514. Ccdc is required to file annual informational returns and business income tax returns with the internal revenue services and the california franchise tax board. Management has considered its tax positions and believes that all of the positions taken in the federal and state tax returns are more likely than not to be sustained upon examination. Ccdc, subsidiaries, and the affiliated partnerships file the required tax returns with the internal revenue service and the california franchise tax board, and these returns for the years 2015 through 2018 are subject to examination by the taxing authorities generally for three years and four years for federal and california, respectively, starting with the date of filing or the due date of the tax return, whichever is later.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CCDC AND ITS TAX-EXEMPT SUBSIDIARIES ARE EXEMPT FROM FEDERAL INCOME TAX AND CALIFORNIA FRANCHISE TAX UNDER PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701D OF THE CALIFORNIA CODE, RESPECTIVELY. HOWEVER, THE NET INCOME FROM COMMERCIAL RENTAL OPERATIONS FOR SOME PROPERTIES IS DEBT-FINANCED INCOME AND IS THEREFORE SUBJECT TO INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 514. CCDC IS REQUIRED TO FILE ANNUAL INFORMATIONAL RETURNS AND BUSINESS INCOME TAX RETURNS WITH THE INTERNAL REVENUE SERVICES AND THE CALIFORNIA FRANCHISE TAX BOARD. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN IN THE FEDERAL AND STATE TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. CCDC, SUBSIDIARIES, AND THE AFFILIATED PARTNERSHIPS FILE THE REQUIRED TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND THE CALIFORNIA FRANCHISE TAX BOARD, AND THESE RETURNS FOR THE YEARS 2015 THROUGH 2018 ARE SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES GENERALLY FOR THREE YEARS AND FOUR YEARS FOR FEDERAL AND CALIFORNIA, RESPECTIVELY, STARTING WITH THE DATE OF FILING OR THE DUE DATE OF THE TAX RETURN, WHICHEVER IS LATER.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR/PRESIDE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DEPUTY DIRECTOR
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0COMPENSATION SURVEY OR STUDY WERE USED TO ESTABLISH COMPENSATION OF RELATED ORGANIZATION'S CEO/CFO, OFFICERS AND KEY EMPLOYEES. BOARD OR COMPENSATION COMMITTEE'S APPROVAL IS ALSO REQUIRED.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS NO EMPLOYEES; SALARIES AND WAGES REPORTED IN PART IX, FUNCTIONAL EXPENSES, WERE REIMBURSEMENTS TO CHINATOWN COMMUNITY DEVELOPMENT CENTER. THE AMOUNT WAS LISTED TO CONFORM WITH THE REQUIREMENTS OF FEDERAL AND/OR STATE REGULATORY AGENCY AND/OR LENDER ON AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD WILL REVIEW BY E-MAIL AND ANY QUESTIONS/COMMENTS WILL BE DIRECTED TO THE TAX PREPARER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY WILL BE REVIEWED ANNUALLY WITH THE BOARD AND EACH MEMBER SIGNS A FORM STATING THAT THEY UNDERSTAND THE POLICY AND WILL ABIDE BY IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DOCUMENTS ARE AVAILABLE UPON REQUEST. THE ORGANIZATION FORM 990 IS ALSO AVAILABLE AT WWW.GUIDESTAR.ORG FOR PUBLIC INSPECTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THERE IS NO CHANGE IN THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 2A & 2B; FORM 990, PART IX, LINE 7 TO LINE 10
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990 PART XII, LINE 2C
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