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Nonprofiteer
← PACIFIC ASIAN CONSORTIUM IN EMPLOYMENT

Form 990 for tax year 2023

Filed by PACIFIC ASIAN CONSORTIUM IN EMPLOYMENT.

Totals

Total revenue
$40,799,441
Total expenses
$39,627,684
Contributions and grants received
$40,619,353
Grants paid
$0
Program service revenue
$180,000
Investment income
$73,487
Other revenue
-$73,399
Total assets, end of year
$23,248,127
Total liabilities, end of year
$14,423,704
Net assets or fund balances, end of year
$8,824,423
Program services expenses (Part IX)
$35,612,968
Management and general expenses
$4,014,716
Fundraising expenses
$0
Program service expenses (Part III)
$35,612,968

Program services were 89.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $103,840

  • 1e · Government grants (contributions)

    $38,760,911

  • 1f · All other contributions, gifts and grants

    $1,754,602

  • 2a · Program service revenue: MANAGEMENT FEES

    total $180,000 · related or exempt $180,000

  • 3 · Investment income

    total $73,487 · excluded $73,487

  • 8a · Fundraising events: gross income

    $63,248

  • 8a · Fundraising events: contributions included on line 1c

    $103,840

  • 8b · Fundraising events: direct expenses

    $63,248

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: PROGRAM REIMBURSEMENTS

    total $97,374 · related or exempt $97,374

  • 11b · Other revenue: OTHER INCOME

    total $56,423 · related or exempt $56,423

  • 11c · Other revenue: GAIN/LOSS IN SUBSIDIARIES

    total -$227,196 · related or exempt -$227,196

  • 11e · Other revenue, total

    -$73,399

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $663,704 · management and general $663,704

  • 7 · Other salaries and wages

    total $18,148,653 · program services $16,548,582 · management and general $1,600,071

  • 8 · Pension plan contributions

    total $1,299,194 · program services $1,142,385 · management and general $156,809

  • 9 · Other employee benefits

    total $3,488,940 · program services $3,199,069 · management and general $289,871

  • 10 · Payroll taxes

    total $1,498,322 · program services $1,343,976 · management and general $154,346

  • 11b · Fees: legal

    total $85,685 · management and general $85,685

  • 11c · Fees: accounting

    total $70,760 · management and general $70,760

  • 11g · Fees: other

    total $4,464,747 · program services $4,345,313 · management and general $119,434

  • 12 · Advertising and promotion

    total $296,157 · program services $264,806 · management and general $31,351

  • 13 · Office expenses

    total $865,274 · program services $830,233 · management and general $35,041

  • 14 · Information technology

    total $70,061 · program services $38,531 · management and general $31,530

  • 16 · Occupancy

    total $2,474,311 · program services $2,167,857 · management and general $306,454

  • 17 · Travel

    total $57,434 · management and general $57,434

  • 19 · Conferences, conventions and meetings

    total $586,253 · program services $572,971 · management and general $13,282

  • 20 · Interest

    total $2,052 · program services $2,052

  • 22 · Depreciation, depletion and amortization

    total $10,683 · management and general $10,683

  • 23 · Insurance

    total $399,778 · program services $139,371 · management and general $260,407

  • 24a · Other expenses: PROGRAM MATERIALS & SUP

    total $1,657,881 · program services $1,657,881

  • 24b · Other expenses: SITE ALTERATION/RENOVAT

    total $1,641,515 · program services $1,641,515

  • 24c · Other expenses: PARTICIPANTS SUPPORT

    total $657,492 · program services $657,492

  • 24d · Other expenses: EQUIPMENT COSTS

    total $331,775 · program services $316,935 · management and general $14,840

  • 24e · All other expenses

    total $857,013 · program services $743,999 · management and general $113,014

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,655,278 · end of year $6,054,814

  • 2 · Savings and temporary cash investments

    beginning of year $3,260,399 · end of year $4,650,137

  • 3 · Pledges and grants receivable

    beginning of year $2,765,923 · end of year $3,180,489

  • 4 · Accounts receivable

    beginning of year $304,864 · end of year $965,021

  • 7 · Other notes and loans receivable

    beginning of year $1,094,033 · end of year $1,060,454

  • 9 · Prepaid expenses and deferred charges

    beginning of year $58,712 · end of year $138,008

  • 10a · Land, buildings and equipment: cost or other basis

    $212,341

  • 10b · Land, buildings and equipment: accumulated depreciation

    $203,439

  • 10c · Land, buildings and equipment, net

    beginning of year $19,585 · end of year $8,902

  • 15 · Other assets

    beginning of year $8,724,364 · end of year $7,190,302

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,339,728 · end of year $3,055,306

  • 19 · Deferred revenue

    beginning of year $9,743 · end of year $60,506

  • 23 · Secured mortgages and notes payable

    beginning of year $957,212 · end of year $788,645

  • 25 · Other liabilities

    beginning of year $10,179,872 · end of year $10,519,247

  • 27 · Net assets without donor restrictions

    beginning of year $7,302,104 · end of year $8,016,065

  • 28 · Net assets with donor restrictions

    beginning of year $94,499 · end of year $808,358

Mission and programs · 2023

Mission

PACE'S MISSION IS TO CREATE ECONOMIC SOLUTIONS TO MEET THE EMPLOYMENT, EDUCATION, HOUSING, ENVIRONMENTAL, AND BUSINESS DEVELOPMENT CHALLENGES OF LOW INCOME RESIDENTS IN THE PACIFIC ASIAN AND OTHER DIVERSE COMMUNITIES OF LOS ANGELES.

Activities or mission (Part I)

PACE'S MISSION IS TO SERVE AS A RESOURCE FOR IDENTIFYING, SECURING AND ADMINISTERING ECONOMIC SOLUTIONS TO PROBLEMS OF HOUSING, UNEMPLOYMENT AND BUSINESS DEVELOPMENT, WHILE SERVING THE COMMUNITY AT LARGE.

  • CHILD EDUCATION & NUTRITION SERVICES:1,008 CHILDREN ENROLLED IN HEADSTART14 SCHOOL SITES129,728 PARENT VOLUNTEER HOURS317,520 MEALS PREPARED & SERVED1,870 CHILDREN & FAMILIES SERVED

    Expenses $20,852,733

  • COMMUNITY DEVELOPMENT:19,385 CLIENTS RECEIVING EMERGENCY UTILITY PAYMENT ASSISTANCE (LIHEAP & HEAP & LIWAP)$15,576,220 EMERGENCY UTILITY PAYMENTS658 CLIENTS SERVED THROUGH WEATHERIZATION PROGRAMS1,568 TOTAL HOUSEHOLDS SERVED BY THE ENERGY SAVINGS ASSISTANCE PROGRAM5,701 ENTREPRENEURS TRAINED/COUNSELED848 SMALL BUSINESSES ASSISTED536 JOBS CREATED/RETAINED509 WOMEN ENTREPRENEURS SERVED$13,757,071 LOANS PACKAGED/PLACE/FUNDED2,035 FINANCIAL EDUCATION TRAINEES

    Expenses $12,621,704 · Revenue $106,601

  • EMPLOYMENT & TRAINING SERVICES:1,183 WORKERS TRAINED &/OR PLACED/SERVICES RECEIVED$20.21 AVERAGE HOURLY WAGE OF PLACED WORKERS$3,914,677 ANNUAL WAGES EARNED BY PLACED WORKERS73 ENROLLMENTS IN SUBSIDIZED EMPLOYMENT PROGRAM40 COMPLETIONS OF SUBSIDIZED EMPLOYMENT TRAINING19 WORKERS TRANSITIONING FROM SUBSIDIZED TO UNSUBSIDIZED EMPLOYMENT

    Expenses $2,138,531

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kerry N Doi

    PRESIDENT & CEO

    Total calculated
    $424,850
    From this org
    $422,998
    From related orgs
    $0
    Other
    $1,852
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $389,982
    Bonus
    $30,000
    Other
    $3,016
    Deferred
    $0
    Nontaxable benefits
    $1,852
    Filer's total
    $424,850

  • Sandy Sakamoto

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jon Mayeda

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Neil Yoneji

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • William Chun

    VP & COO

    Total calculated
    $249,038
    From this org
    $245,633
    From related orgs
    $0
    Other
    $3,405
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $245,633
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $3,405
    Filer's total
    $249,038

  • Kyong Ran Choi

    CONTROLLER

    Total calculated
    $206,043
    From this org
    $204,067
    From related orgs
    $0
    Other
    $1,976
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,780
    Bonus
    $15,287
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,976
    Filer's total
    $206,043

  • Kamolrat Sivanunsakul

    DIRECTOR

    Total calculated
    $198,591
    From this org
    $194,896
    From related orgs
    $0
    Other
    $3,695
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,896
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $3,695
    Filer's total
    $198,591

  • Stacy Y Wong Hui

    DIRECTOR

    Total calculated
    $198,702
    From this org
    $190,153
    From related orgs
    $0
    Other
    $8,549
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,153
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,549
    Filer's total
    $198,702

  • Celia V Andrade

    DIRECTOR

    Total calculated
    $164,835
    From this org
    $164,835
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,835
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $164,835

  • Mimi Cheung

    CHIEF STRATEGY OFFICER

    Total calculated
    $164,712
    From this org
    $158,668
    From related orgs
    $0
    Other
    $6,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,668
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,044
    Filer's total
    $164,712

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • PACE FINANCE CORPORATION

    501(C)(3) · TO PROMOTE GROWTH AND ECONOMIC EXPANSION OF DIVERSE LOS ANGELES COMMUNITIES · CA

    Directly controlled by PACIFIC ASIAN CONSORTIUM IN EMPLOYMENT

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • THE EDUCATOR ADVANCEMENT CAREER HUB LLC

    TRAINING EDUCATORS · CA · income $213,306 · assets $450,762

    Directly controlled by PACIFIC ASIAN CONSORTIUM IN EMPLOYMENT

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • LOTUS CONSTRUCTION AND PROPERTY MAINTENANCE COMPANY

    C · CONSTRUCTION AND HOUSING REHAB PROJECTS, BUILDING MGMT AND MAINTENANCE · CA · share of income -$2,513 · share of assets $105,798

    Directly controlled by PACE

  • BGREENLA INC

    C · DESIGN AND INSTALLATION OF SOLAR ELECTRIC AND SOLAR THERMAL SYSTEMS · CA · share of income -$2,949 · share of assets $259,444

    Directly controlled by PACE

  • GREENBIZ PACE INC

    C · INCUBATOR FOR START-UP OR EXPANDING BUSINESSES THAT FOCUS ON PRESERVATION · CA · share of income -$1,700 · share of assets $680,166

    Directly controlled by PACE

  • PACE CARE INC

    C · PROVIDING HOME CARE SERVICES IN THE GREATER LOS ANGELES AREA. · CA · share of income -$1,642,560 · share of assets $192,312

    Directly controlled by PACE

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2025
IRS schema version
2023v6.0
Source object
202511299349303546

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