Civic Intelligence

CCDC Legacy Foundation

990 • Fiscal year 2022 • EIN 47-4785589

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

615 Grant AvenueSan Francisco, CA 94108

(415) 984-1450

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

27th percentile

0.05x

Higher debt load relative to revenue than 27% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

95th percentile

74%

Higher net margin than 95% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

88th percentile

$291,612

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 177.1% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

14th percentile

-13%

Faster asset growth than 14% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

5th percentile

-60%

Faster revenue growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$7,865,180

Down $1,172,379 (-13%) from 2021

Net Assets

Down

$7,856,306

Down $1,174,994 (-13%) from 2021

Liabilities

Up

$8,874

Up $2,615 (+42%) from 2021

Revenue

Down

$164,636

Down $248,467 (-60%) from 2021

Expenses

Down

$42,822

Down $916 (-2.1%) from 2021

Net Income

Down

$121,814

Down $247,551 (-67%) from 2021

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

2022

Assets$7,865,180
Liabilities$8,874
Net Assets$7,856,306

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

2022

Revenue$164,636
Expenses$42,822
Net Income$121,814
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$5,482,889
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$8,865,412$7,624,486▼ $1,240,926
Total Assets$9,037,559$7,865,180▼ $1,172,379
Other Assets Total$172,147$240,694▲ $68,547
Liabilities
Other Liabilities$6,259$8,874▲ $2,615
Total Liabilities$6,259$8,874▲ $2,615
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,031,300$7,856,306▼ $1,174,994
Total Net Assets Fund Balance$9,031,300$7,856,306▼ $1,174,994
Total Liabilities and Net Assets / Fund Balance$9,037,559$7,865,180▼ $1,172,379
Compensation and Service Providers

Board Members and Trustees

NameTitle
Vivian Fei TsenChair
Malcolm YeungPresident
Andrew HuangDirector
Cindy LouieDirector
Howard ChungDirector
Gordon ChinSecretary
Howard AshlockTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$164,636
Other Revenue
$0
Change in Net Assets
$121,814
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,822
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$2,515-$2,515
Other Expenses$100--$100
Total Functional Expenses$40,307$2,515$0$42,822
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$8,874
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
No
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
615 GRANT AVENUE, SAN FRANCISCO, CA 94108

Signing Officer

Name
Cindy Louie
Title
Director
Phone
4159841450
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vivian Fei Tsen
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
Joe Huie
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 2018 through 2021 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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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
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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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