Civic Intelligence

Sakura Foundation

990 • Fiscal year 2020 • EIN 84-0633140

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 26, 2021

1255 19th StreetDenver, CO 80202

(303) 295-0305

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.02x

Higher debt load relative to assets than 42% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

76th percentile

0.28x

Higher debt load relative to revenue than 76% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

4th percentile

-103%

Higher net margin than 4% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

75th percentile

29%

Faster asset growth than 75% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

17th percentile

-34%

Faster revenue growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$743,746

Up $168,634 (+29%) from 2019

Net Assets

Up

$730,382

Up $163,474 (+29%) from 2019

Liabilities

Up

$13,364

Up $5,160 (+63%) from 2019

Revenue

Down

$47,386

Down $24,501 (-34%) from 2019

Expenses

Up

$96,030

Up $5,737 (+6.4%) from 2019

Net Income

Down

-$48,644

Down $30,238 (-164%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $3,829,847Liabilities 2011: $3,506,694Net Assets 2011: $323,1532011Assets 2012: $3,929,009Liabilities 2012: $3,211,845Net Assets 2012: $717,1642012Assets 2013: $4,006,014Liabilities 2013: $2,968,341Net Assets 2013: $1,037,6732013Assets 2014: $2,174,221Liabilities 2014: $1,266,118Net Assets 2014: $908,1032014Assets 2015: $680,087Liabilities 2015: $76,613Net Assets 2015: $603,4742015Assets 2016: $530,284Liabilities 2016: $2,755Net Assets 2016: $527,5292016Assets 2017: -$3,219Liabilities 2017: $7,8732017Assets 2018: $340,209Liabilities 2018: $21,4792018Assets 2019: $575,112Liabilities 2019: $8,204Net Assets 2019: $566,9082019Assets 2020: $743,746Liabilities 2020: $13,364Net Assets 2020: $730,3822020Assets 2021: $843,114Liabilities 2021: $13,157Net Assets 2021: $829,9572021Assets 2022: $620,517Liabilities 2022: $6,260Net Assets 2022: $614,2572022Assets 2023: $502,543Liabilities 2023: $6,552Net Assets 2023: $495,9912023Assets 2024: $277,572Liabilities 2024: $6,814Net Assets 2024: $270,7582024

Highlighted filing

2020

Assets$743,746
Liabilities$13,364
Net Assets$730,382

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $1,346,826Expenses 2011: $1,219,921Net Income 2011: $126,9052011Revenue 2012: $1,486,399Expenses 2012: $1,356,163Net Income 2012: $130,2362012Revenue 2013: $1,818,847Expenses 2013: $1,498,338Net Income 2013: $320,5092013Revenue 2014: $1,848,242Expenses 2014: $1,977,812Net Income 2014: -$129,5702014Revenue 2015: $993Expenses 2015: $140,511Net Income 2015: -$139,5182015Revenue 2016: $47,951Expenses 2016: $176,210Net Income 2016: -$128,2592016Revenue 2017: $73,495Expenses 2017: $114,047Net Income 2017: -$40,5522017Revenue 2018: $82,167Expenses 2018: $133,419Net Income 2018: -$51,2522018Revenue 2019: $71,887Expenses 2019: $90,293Net Income 2019: -$18,4062019Revenue 2020: $47,386Expenses 2020: $96,030Net Income 2020: -$48,6442020Revenue 2021: $29,874Expenses 2021: $95,728Net Income 2021: -$65,8542021Revenue 2022: $127,583Expenses 2022: $176,731Net Income 2022: -$49,1482022Revenue 2023: $173,191Expenses 2023: $208,065Net Income 2023: -$34,8742023Revenue 2024: $507,760Expenses 2024: $543,109Net Income 2024: -$35,3492024

Highlighted filing

2020

Revenue$47,386
Expenses$96,030
Net Income-$48,644
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 26, 2021
Return Version
2020v4.0
Gross Receipts
$49,644
Mission and Program Overview

Mission

Sakura Foundation celebrates Japanese and Japanese American heritage, culture and community, including the Tri-State/Denver Buddhist Temple through scholarships, grants, a leadership program, events and festivals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$502,332$624,448▲ $122,116
Cash and Non-Interest-Bearing Accounts$68,046$116,177▲ $48,131
Prepaid Expenses and Deferred Charges$3,132$1,875▼ $1,257
Land, Buildings, and Equipment, Net$1,602$1,246▼ $356
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$575,112$743,746▲ $168,634
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$8,204$13,364▲ $5,160
Total Liabilities$8,204$13,364▲ $5,160
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$566,908$722,430▲ $155,522
Net Assets With Donor Restrictions-$7,952-
Total Net Assets Fund Balance$566,908$730,382▲ $163,474
Total Liabilities and Net Assets / Fund Balance$575,112$743,746▲ $168,634

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,246$534$1,780
Closely Held Equity Interests$624,448--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joe OzakiPresident
Richard YoshidaVice President
Kelly YamasakiBoard Secretary
Cathy IshidaDirector
Charles OzakiDirector
D J IdaDirector
Derek OkuboDirector
Drew DomotoDirector
Ed NozawaDirector
John NittaDirector
Joni SakaguchiDirector
Kenzo KawanabeDirector
Tom MigakiDirector
Gary YamashitaCEO
Robert TanakaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$43,772
Program Service Revenue
$0
Investment Income
$4
Other Revenue
$3,610
All Other Contributions
$31,272
Change in Net Assets
$-48,644
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,763
Grants and Similar Amounts Paid$13,267
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$50,000--$50,000
Fees for Services Accounting$11,983--$11,983
Grants to Domestic Individuals$10,000--$10,000
Insurance$3,577--$3,577
Grants to Domestic Orgs$3,267--$3,267
Advertising$2,865--$2,865
All Other Expenses$896--$896
Fees for Services Legal$889--$889
Information Technology$724--$724
Other Expenses$385--$385
Depreciation Depletion$356--$356
Office Expenses$337--$337
Travel$33--$33
Total Functional Expenses$96,030$0$0$96,030
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$2,791
Fundraising Direct Expenses$2,258
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
S Umetani K OzakiBoard memberWebsite supportNo$900
-Daughters-BoardVideo production/promoNo$500

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Joe Ozaki and Charles Ozaki are brothers.

Form 990, Part VI, Line 11B: Form 990 Review Process

The Form 990 is reviewed by the Organization's senior management and then made available to the members of the Board of Directors.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Sakura Foundation
EIN
84-0633140
Phone
3032950305
Address
1255 19th Street, Denver, CO 80202

Signing Officer

Name
Gary Yamashita
Title
CEO
Signed
2021-04-26
Discuss with paid preparer
Yes

Organization Details

Formed
1962
Legal Domicile
Co
Voting Board Members
14
Independent Board Members
14
Employees
0

Preparer

Firm
Hiratsuka & Associates Llp
Address
4251 Kipling St Suite 410, Wheat Ridge, CO 80033
Preparer
John P Moran
Phone
3032957077
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

Equity in consolidated subsidiary-Sakura Square LLC 2020 = $191660

Other Changes In Net Assets Or Fund Balances - Other Increases

Equity in consolidated subsidiary-Sakura Square LLC PY audit = $20458

Financial Statement Notes

Part X : FIN48 Footnote

The consolidated financial statement footnote on income taxes statement addresses uncertain tax position guidance, but the Foundation does not have any material uncertain income tax positions. Likewise, the foundation's consolidated subsidiary, Sakura Square LLC does not have any uncertain income tax positions.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The consolidated financial statement footnote on income taxes statement addresses uncertain tax position guidance, but the Foundation does not have any material uncertain income tax positions. Likewise, the foundation's consolidated subsidiary, Sakura Square LLC does not have any uncertain income tax positions.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.01$0.27$0.51$0.54$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.50$0.01$0.50$0.17$0.21$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.62$0.01$0.61$0.13$0.18$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.84$0.01$0.83$0.03$0.10$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.74$0.01$0.73$0.05$0.10$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.58$0.01$0.57$0.07$0.09$0.02
2018Summary only. Only limited summary data is available for this year.$0.34$0.02$0.08$0.13$0.05
2017Summary only. Only limited summary data is available for this year.$0.00$0.01$0.07$0.11$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.53$0.00$0.53$0.05$0.18$0.13
2015Summary only. Only limited summary data is available for this year.$0.68$0.08$0.60$0.00$0.14$0.14
2014Summary only. Only limited summary data is available for this year.$2.17$1.27$0.91$1.85$1.98$0.13
2013Summary only. Only limited summary data is available for this year.$4.01$2.97$1.04$1.82$1.50$0.32
2012Summary only. Only limited summary data is available for this year.$3.93$3.21$0.72$1.49$1.36$0.13
2011Summary only. Only limited summary data is available for this year.$3.83$3.51$0.32$1.35$1.22$0.13