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Nonprofiteer
← PACE FINANCE CORPORATION

Form 990 for tax year 2024

Filed by PACE FINANCE CORPORATION.

Totals

Total revenue
$2,972,756
Total expenses
$1,889,964
Contributions and grants received
$2,334,973
Grants paid
$410,000
Program service revenue
$637,783
Investment income
$0
Other revenue
$0
Total assets, end of year
$20,860,862
Total liabilities, end of year
$4,429,989
Net assets or fund balances, end of year
$16,430,873
Program services expenses (Part IX)
$1,667,930
Management and general expenses
$222,034
Fundraising expenses
$0
Program service expenses (Part III)
$1,667,930

Program services were 88.3% 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.

  • 1e · Government grants (contributions)

    $2,334,973

  • 2a · Program service revenue: MICROLOAN INTEREST INC

    total $606,181 · related or exempt $606,181

  • 2b · Program service revenue: SERVICE FEE INCOME

    total $31,602 · related or exempt $31,602

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $410,000 · program services $410,000

  • 7 · Other salaries and wages

    total $642,509 · program services $573,638 · management and general $68,871

  • 8 · Pension plan contributions

    total $38,966 · program services $34,789 · management and general $4,177

  • 9 · Other employee benefits

    total $128,296 · program services $114,544 · management and general $13,752

  • 10 · Payroll taxes

    total $50,086 · program services $44,717 · management and general $5,369

  • 11c · Fees: accounting

    total $38,975 · program services $16,817 · management and general $22,158

  • 11g · Fees: other

    total $148,441 · program services $64,048 · management and general $84,393

  • 13 · Office expenses

    total $22,056 · program services $19,691 · management and general $2,365

  • 16 · Occupancy

    total $66,143 · program services $59,053 · management and general $7,090

  • 17 · Travel

    total $11,617 · program services $10,372 · management and general $1,245

  • 19 · Conferences, conventions and meetings

    total $15,954 · program services $14,245 · management and general $1,709

  • 20 · Interest

    total $97,502 · program services $97,502

  • 23 · Insurance

    total $11,338 · program services $10,122 · management and general $1,216

  • 24a · Other expenses: CREDIT LOSS EXPENSE

    total $173,432 · program services $173,432

  • 24b · Other expenses: TAXES, LICENSES, AND FE

    total $15,440 · program services $7,812 · management and general $7,628

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $14,984 · program services $13,378 · management and general $1,606

  • 24d · Other expenses: EQUIPMENT AND MAINTENAN

    total $4,225 · program services $3,770 · management and general $455

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,071,824 · end of year $11,854,341

  • 2 · Savings and temporary cash investments

    beginning of year $9,613,056 · end of year $3,284,153

  • 3 · Pledges and grants receivable

    beginning of year $130,394 · end of year $280,158

  • 7 · Other notes and loans receivable

    beginning of year $4,752,972 · end of year $5,442,210

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,862 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,082 · end of year $30,905

  • 19 · Deferred revenue

    beginning of year $1,216,140 · end of year $768,959

  • 24 · Unsecured notes and loans payable

    beginning of year $1,800,000 · end of year $2,800,000

  • 25 · Other liabilities

    beginning of year $193,805 · end of year $830,125

  • 27 · Net assets without donor restrictions

    beginning of year $12,721,516 · end of year $13,906,511

  • 28 · Net assets with donor restrictions

    beginning of year $2,626,565 · end of year $2,524,362

Mission and programs · 2024

Mission

TO PROVIDE FINANCIAL SERVICES AND PRODUCTS TO LOW AND MODERATE INCOME COMMUNITIES.

  • R

    Expenses $1,667,930 · Grants $410,000 · Revenue $637,783

As filed on the 2024 return.

Listed in Part VII

  • Kerry Doi

    PRESIDENT

    Total calculated
    $474,979
    From this org
    $0
    From related orgs
    $472,878
    Other
    $2,101
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $421,001 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $1,877 related
    Deferred
    $0 + $2,101 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $474,979 related

  • William Chun

    CFO

    Total calculated
    $307,600
    From this org
    $0
    From related orgs
    $300,800
    Other
    $6,800
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $275,800 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $6,800 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $307,600 related

  • Jon Mayeda

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Neil Yoneji

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

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

  • LOS ANGELES COUNTY DEVELOPMENT AUTHORITY

    $410,000

    SERVING THE COMMUNITY AT LARGE

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.

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 $0 · assets $0

    Directly controlled by PACIFIC ASIAN CONSORTIUM IN EMPLOYMENT

Provenance

Return type
form_990
Tax year
2024
Filed
24 October 2025
IRS schema version
2024v5.2
Source object
202533099349303988

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