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Nonprofiteer
← PACIFIC ASIAN CONSORTIUM IN EMPLOYMENT

Form 990 for tax year 2022

Filed by PACIFIC ASIAN CONSORTIUM IN EMPLOYMENT.

Totals

Total revenue
$34,976,356
Total expenses
$34,530,962
Contributions and grants received
$33,992,246
Grants paid
$0
Program service revenue
$969,377
Investment income
$85,287
Other revenue
-$70,554
Total assets, end of year
$20,883,158
Total liabilities, end of year
$13,486,555
Net assets or fund balances, end of year
$7,396,603
Program services expenses (Part IX)
$30,984,393
Management and general expenses
$3,546,569
Fundraising expenses
$0
Program service expenses (Part III)
$30,984,393

Program services were 89.7% 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

    $142,596

  • 1e · Government grants (contributions)

    $33,350,906

  • 1f · All other contributions, gifts and grants

    $498,744

  • 2a · Program service revenue: PROGRAM REVENUE

    total $969,377 · related or exempt $969,377

  • 3 · Investment income

    total $85,287 · excluded $85,287

  • 8a · Fundraising events: gross income

    $63,062

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

    $142,596

  • 8b · Fundraising events: direct expenses

    $63,062

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: PROGRAM REIMBURSEMENTS

    total $128,259 · related or exempt $128,259

  • 11b · Other revenue: OTHER INCOME

    total $28,383 · related or exempt $28,383

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

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

  • 11e · Other revenue, total

    -$70,554

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $587,164 · management and general $587,164

  • 7 · Other salaries and wages

    total $16,487,330 · program services $15,316,155 · management and general $1,171,175

  • 8 · Pension plan contributions

    total $844,917 · program services $767,853 · management and general $77,064

  • 9 · Other employee benefits

    total $3,397,765 · program services $3,071,385 · management and general $326,380

  • 10 · Payroll taxes

    total $1,350,602 · program services $1,230,489 · management and general $120,113

  • 11b · Fees: legal

    total $152,781 · management and general $152,781

  • 11c · Fees: accounting

    total $122,562 · management and general $122,562

  • 11g · Fees: other

    total $4,032,015 · program services $3,970,935 · management and general $61,080

  • 12 · Advertising and promotion

    total $296,517 · program services $271,184 · management and general $25,333

  • 14 · Information technology

    total $294,191 · program services $249,069 · management and general $45,122

  • 16 · Occupancy

    total $2,496,186 · program services $2,236,719 · management and general $259,467

  • 19 · Conferences, conventions and meetings

    total $243,836 · program services $179,858 · management and general $63,978

  • 20 · Interest

    total $2,638 · program services $2,448 · management and general $190

  • 22 · Depreciation, depletion and amortization

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

  • 23 · Insurance

    total $383,638 · program services $127,607 · management and general $256,031

  • 24a · Other expenses: PROGRAM MATERIALS & SUP

    total $1,872,384 · program services $1,841,509 · management and general $30,875

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $754,314 · program services $566,017 · management and general $188,297

  • 24c · Other expenses: PARTICIPANTS SUPPORT

    total $549,697 · program services $549,697

  • 24d · Other expenses: EQUIPMENT COSTS

    total $352,490 · program services $324,045 · management and general $28,445

  • 24e · All other expenses

    total $299,252 · program services $279,423 · management and general $19,829

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,777,103 · end of year $4,655,278

  • 2 · Savings and temporary cash investments

    beginning of year $629,759 · end of year $3,260,399

  • 3 · Pledges and grants receivable

    beginning of year $1,734,213 · end of year $2,765,923

  • 4 · Accounts receivable

    beginning of year $219,312 · end of year $304,864

  • 7 · Other notes and loans receivable

    beginning of year $1,329,488 · end of year $1,094,033

  • 9 · Prepaid expenses and deferred charges

    beginning of year $62,693 · end of year $58,712

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

    $212,341

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

    $192,756

  • 10c · Land, buildings and equipment, net

    beginning of year $30,268 · end of year $19,585

  • 15 · Other assets

    beginning of year $3,753,344 · end of year $8,724,364

  • 17 · Accounts payable and accrued expenses

    beginning of year $803,132 · end of year $1,358,663

  • 19 · Deferred revenue

    beginning of year $8,693 · end of year $9,743

  • 23 · Secured mortgages and notes payable

    beginning of year $1,120,527 · end of year $957,212

  • 24 · Unsecured notes and loans payable

    beginning of year $8,076

  • 25 · Other liabilities

    beginning of year $3,879,537 · end of year $11,160,937

  • 27 · Net assets without donor restrictions

    beginning of year $6,570,632 · end of year $7,302,104

  • 28 · Net assets with donor restrictions

    beginning of year $145,583 · end of year $94,499

Mission and programs · 2022

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:1,146 CHILDREN ENROLLED IN HEADSTART15 SCHOOL SITES130,377 PARENT VOLUNTEER HOURS303,486 MEALS PREPARED & SERVED2,202 CHILDREN & FAMILIES SERVED

    Expenses $16,100,677

  • COMMUNITY DEVELOPMENT:19,026 CLIENTS RECEIVING EMERGENCY UTILITY PAYMENT ASSISTANCE (LIHEAP & HEAP)$7,634,492 EMERGENCY UTILITY PAYMENTS2,209 CLIENTS SERVED THROUGH WEATHERIZATION PROGRAMS1,888 TOTAL HOUSEHOLDS SERVED BY THE ENERGY SAVINGS ASSISTANCE PROGRAM68 RESIDENTS SERVED THROUGH HANDYWORKER PROGRAM68 UNITS REHABBED THROUGH HANDYWORKER PROGRAM5,226 ENTREPRENEURS TRAINED/COUNSELED494 SMALL BUSINESSES ASSISTED851 JOBS CREATED/RETAINED776 WOMEN ENTREPRENEURS SERVED$17,903,910 LOANS PACKAGED/PLACE/FUNDED799 FINANCIAL EDUCATION TRAINEES

    Expenses $12,780,195 · Revenue $564,147

  • EMPLOYMENT & TRAINING SERVICES:2,533 WORKERS TRAINED &/OR PLACED/SERVICES RECEIVED$18.87 AVERAGE HOURLY WAGE OF PLACED WORKERS$2,825,971 ANNUAL WAGES EARNED BY PLACED WORKERS63 ENROLLMENTS IN SUBSIDIZED EMPLOYMENT PROGRAM19 COMPLETIONS OF SUBSIDIZED EMPLOYMENT TRAINING16 WORKERS TRANSITIONING FROM SUBSIDIZED TO UNSUBSIDIZED EMPLOYMENT

    Expenses $2,103,521 · Revenue $334,676

As filed on the 2022 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
    $324,569
    From this org
    $322,864
    From related orgs
    $0
    Other
    $1,705
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $319,848
    Bonus
    $0
    Other
    $3,016
    Deferred
    $0
    Nontaxable benefits
    $1,705
    Filer's total
    $324,569

  • SANDY SAKAMOTO

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • MIKE ENG

    BOARD VC & TREAS (THRU 05/2023)

    Total calculated
    $0
    Hours/week
    2

  • JON MAYEDA

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • NEIL YONEJI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM CHUN

    VP & COO

    Total calculated
    $59,231
    From this org
    $58,697
    From related orgs
    $0
    Other
    $534
    Hours/week
    40

  • CELIA V ANDRADE

    PROJECT DIRECTOR

    Total calculated
    $142,971
    From this org
    $142,971
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • KAMOLRAT SIVANUNSAKUL

    PROJECT DIRECTOR

    Total calculated
    $172,187
    From this org
    $168,786
    From related orgs
    $0
    Other
    $3,401
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,786
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $3,401
    Filer's total
    $172,187

  • KYONG RAN CHOI

    CONTROLLER

    Total calculated
    $200,132
    From this org
    $198,365
    From related orgs
    $0
    Other
    $1,767
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,890
    Bonus
    $3,475
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,767
    Filer's total
    $200,132

  • MIMI CHEUNG

    SPECIAL PROJECT MANAGER

    Total calculated
    $160,771
    From this org
    $156,402
    From related orgs
    $0
    Other
    $4,369
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,402
    Bonus
    $10,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,369
    Filer's total
    $160,771

  • STACY Y WONG HUI

    PROJECT DIRECTOR

    Total calculated
    $204,861
    From this org
    $197,278
    From related orgs
    $0
    Other
    $7,583
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,278
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,583
    Filer's total
    $204,861

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.

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 -$3,008 · share of assets $162,604

    Directly controlled by PACE

  • BGREENLA INC

    C · DESIGN AND INSTALLATION OF SOLAR ELECTRIC AND SOLAR THERMAL SYSTEMS · CA · share of income -$140 · share of assets $262,393

    Directly controlled by PACE

  • GREENBIZ PACE INC

    C · INCUBATOR FOR START-UP OR EXPANDING BUSINESSES THAT FOCUS ON PRESERVATION · CA · share of income -$1,250 · share of assets $681,866

    Directly controlled by PACE

  • PACE CARE INC

    C · PROVIDING HOME CARE SERVICES IN THE GREATER LOS ANGELES AREA. · CA · share of income $7,556 · share of assets $382,863

    Directly controlled by PACE

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202441309349303929

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