Civic Intelligence

Budokan Inc.

990 • Fiscal year 2020 • EIN 82-2237366

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 28, 2021

231 E Third Street No G-106Los Angeles, CA 90013

(213) 473-3030

Siviq Scores

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

Liabilities / Assets

91st percentile

0.96x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

102.28x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

4th percentile

-83%

Higher net margin than 4% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

9th percentile

-5.4%

Faster asset growth than 9% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

98th percentile

503%

Faster revenue growth than 98% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Assets

Down

$31,904,313

Down $1,838,978 (-5.4%) from 2019

Net Assets

Down

$1,357,779

Down $246,414 (-15%) from 2019

Liabilities

Down

$30,546,534

Down $1,592,564 (-5.0%) from 2019

Revenue

Up

$298,659

Up $249,159 (+503%) from 2019

Expenses

Up

$546,787

Up $545,073 (+31801%) from 2019

Net Income

Down

-$248,128

Down $295,914 (-619%) from 2019

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0-$10MAssets 2018: $32,544,070Liabilities 2018: $30,989,377Net Assets 2018: $1,554,6932018Assets 2019: $33,743,291Liabilities 2019: $32,139,098Net Assets 2019: $1,604,1932019Assets 2020: $31,904,313Liabilities 2020: $30,546,534Net Assets 2020: $1,357,7792020Assets 2021: $30,771,475Liabilities 2021: $30,482,000Net Assets 2021: $289,4752021Assets 2022: $29,667,033Liabilities 2022: $30,482,000Net Assets 2022: -$814,9672022Assets 2023: $28,597,344Liabilities 2023: $30,482,000Net Assets 2023: -$1,884,6562023Assets 2024: $27,506,412Liabilities 2024: $30,482,000Net Assets 2024: -$2,975,5882024

Highlighted filing

2020

Assets$31,904,313
Liabilities$30,546,534
Net Assets$1,357,779

Operations Trend

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2018: $1,583,683Expenses 2018: $5,000Net Income 2018: $1,578,6832018Revenue 2019: $49,500Expenses 2019: $1,714Net Income 2019: $47,7862019Revenue 2020: $298,659Expenses 2020: $546,787Net Income 2020: -$248,1282020Revenue 2021: $297,000Expenses 2021: $1,367,018Net Income 2021: -$1,070,0182021Revenue 2022: $297,000Expenses 2022: $1,403,156Net Income 2022: -$1,106,1562022Revenue 2023: $297,000Expenses 2023: $1,368,403Net Income 2023: -$1,071,4032023Revenue 2024: $297,000Expenses 2024: $1,389,646Net Income 2024: -$1,092,6462024

Highlighted filing

2020

Revenue$298,659
Expenses$546,787
Net Income-$248,128
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 28, 2021
Return Version
2020v4.1
Gross Receipts
$298,659
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$29,701,099▲ $29,701,099
Cash and Non-Interest-Bearing Accounts$9,669,647$1,112,075▼ $8,557,572
Intangible Assets$0$1,071,098▲ $1,071,098
Prepaid Expenses and Deferred Charges$39,121$0▼ $39,121
Total Assets$33,743,291$31,904,313▼ $1,838,978
Other Assets Total$24,034,523$20,041▼ $24,014,482
Liabilities
Mortgage Notes Payable Secured by Investment Property$29,353,337$30,482,000▲ $1,128,663
Accounts Payable and Accrued Expenses$2,785,761$64,534▼ $2,721,227
Total Liabilities$32,139,098$30,546,534▼ $1,592,564
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,604,193$1,357,779▼ $246,414
Total Net Assets Fund Balance$1,604,193$1,357,779▼ $246,414
Total Liabilities and Net Assets / Fund Balance$33,743,291$31,904,313▼ $1,838,978

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,960,448$273,268$26,233,716
Leasehold Improvements$3,265,831$69,486$3,335,317
Equipment$474,820$20,644$495,464
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bill WatanabeChair of the Board
Keith TerasakiDirector
Silvia YoshimizuDirector
Erich NakanoSecretary
Alan KosakaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$297,000
Investment Income
$0
Other Revenue
$1,659
Change in Net Assets
$-248,128

Audited Revenue Reconciliation

Revenue per Audited Statements
$297,000
Revenue Not Reported on Financial Statements
$1,659
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$1,659
Total Revenue per Audited Statements
$297,000
Total Revenue per Form 990
$298,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$546,787
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
Depreciation Depletion$422,677--$422,677
Interest$122,652--$122,652
Fees for Services Accounting$1,200--$1,200
Other Expenses-$258-$258
Total Functional Expenses$546,529$258$0$546,787

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$546,787
Expenses per Audited Statements$543,414
Total Expenses per Audited Statements$543,414
Expenses Not Reported on Financial Statements$3,373
Other Expense Adjustments$3,373
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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

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.

Filing and Contact Details

Filer

Filer Name
Budokan Inc
EIN
82-2237366
Phone
2134733030
Address
231 E THIRD STREET NO G-106, LOS ANGELES, CA 90013

Signing Officer

Name
Erich Nakano
Title
Secretary
Phone
2134733030
Signed
2021-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erich Nakano
Formed
2017
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Heather L Plake
Phone
3178485700
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Book/tax difference - organization costs 1,714.

Financial Statement Notes

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, 2020 and 2019, the corporation had no uncertain tax positions requiring accrual.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

MISCELLANEOUS REVENUE

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Book/tax difference - organization costs miscellaneous revenue

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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/ExplanationTxt0THE 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, 2020 AND 2019, THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL.
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0543414
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BUDOKAN, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK/TAX DIFFERENCE - ORGANIZATION COSTS 1,714.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SOCIAL WELFARE AND COMMUNITY DEVELOPMENT ACTIVITIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0297000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt031904313
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IRS990/TotalEmployeeCnt00
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IRS990/TotalProgramServiceExpensesAmt0546529
IRS990/TotalProgramServiceRevenueAmt0297000
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IRS990/TotalRevenueGrp/ExclusionAmt01659
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0297000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0298659
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt033743291
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt031904313
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IRS990/USAddress/AddressLine1Txt0231 E THIRD STREET NO G-106
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.TERASAKIBUDOKAN.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ERICH NAKANO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum02134733030
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BUDOKAN INC
ReturnHeader/Filer/BusinessNameControlTxt0BUDO
ReturnHeader/Filer/EIN0822237366
ReturnHeader/Filer/PhoneNum02134733030
ReturnHeader/Filer/USAddress/AddressLine1Txt0231 E THIRD STREET NO G-106
ReturnHeader/Filer/USAddress/CityNm0LOS ANGELES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090013
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351750664
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAUBY O'CONNOR & ZALESKI LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0501 CONGRESSIONAL BLVD 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CARMEL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046032
ReturnHeader/PreparerPersonGrp/PhoneNum03178485700
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HEATHER L PLAKE
ReturnHeader/ReturnTs02021-09-30T13:13:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ERICH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NAKANO
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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