Overview
What is Lake Merritt Asian Cultural Arts Center Affordable Housing Corp?
Lake Merritt Asian Cultural Arts Center Affordable Housing Corp is a nonprofit organization situated in Oakland, California, at 103 International Blvd, 94606. Their primary mission involves leasing affordable instructional spaces for the teaching of Asian martial arts. These spaces are rented out on an hourly basis, predominantly to non-profit organizations, offering low-cost or free instruction to over 200 Oakland residents and those from surrounding cities. Additionally, the organization provides affordable housing to six low-income residents of Oakland, with 100% occupancy in 2021. Many of these residents contribute by providing low-cost martial arts and self-defense training to the Oakland community. The organization's expenses include building costs such as mortgage, property tax, and insurance, which cannot be divided between the two programs sharing the building based on usage.
Is Lake Merritt Asian Cultural Arts Center Affordable Housing Corp legitimate?
Lake Merritt Asian Cultural Arts Center Affordable Housing Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Lake Merritt Asian Cultural Arts Center Affordable Housing Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp?
The Lake Merritt Asian Cultural Arts Center Affordable Housing Corp leases affordable instructional space for the teaching of Asian Martial Arts to approximately 5 providers, with most of the hours being utilized by non-profit organizations offering low-cost or free instruction to over 200 residents from Oakland and surrounding cities. Additionally, the corporation rents the residential portion of the property to 6 low-income residents of Oakland, California at affordable rates. In 2021, the residence had 100% occupancy. Notably, many of these residents are actively involved in providing low-cost or free martial arts and self-defense training to youths and adults in Oakland. The corporation's mission, in essence, is to support the teaching of Asian Martial Arts through affordable spaces and contribute to the community by providing affordable housing to low-income individuals who also engage in providing martial arts training to the local community.
Who is the CEO of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp?
Michael Esmailzadeh is the Resident Director of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp.
What is the revenue of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp?
Lake Merritt Asian Cultural Arts Center Affordable Housing Corp's revenue in 2022 was $86,538.
Who are the executives of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp and what are their salaries?
There 6 volunteers at Lake Merritt Asian Cultural Arts Center Affordable Housing Corp.
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Where can I find the form 990 for Lake Merritt Asian Cultural Arts Center Affordable Housing Corp?
Lake Merritt Asian Cultural Arts Center Affordable Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp
Lake Merritt Asian Cultural Arts Center Affordable Housing Corp's mission revolves around providing affordable instructional spaces for the teaching of Asian Martial Arts. This organization leases out these spaces on an hourly basis to approximately five martial arts providers. A significant portion of these rented hours are utilized by non-profit organizations, offering low-cost or free instruction to over 200 residents from Oakland and its surrounding areas.
In addition to offering affordable instructional spaces, Lake Merritt Asian Cultural Arts Center Affordable Housing Corp also leases the residential portion of its property to six low-income residents of Oakland, California, at affordable rates. In 2021, the organization achieved 100% occupancy in its residential section. Notably, most of these residents are actively involved in providing low-cost or free martial arts and self-defense training to the youth and adults of Oakland. This dual mission of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp, thereby, not only ensures affordable housing but also contributes to the community's physical and mental well-being through martial arts training.
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Impact
October, 2024
Lake Merritt Asian Cultural Arts Center Affordable Housing Corp has a significant impact on the local community by providing affordable instructional space for Asian martial arts education and housing for low-income residents.
By leasing space to approximately five martial arts providers, the center facilitates low-cost to free classes for over 200 individuals in Oakland and nearby areas. This access to martial arts training supports not only physical health but also fosters a sense of community and empowerment, particularly among youths and adults seeking self-defense skills.
The organization further contributes to the community by housing six low-income residents at affordable rates. This arrangement promotes stability and offers residents the opportunity to engage in community-focused activities, many of whom are involved in teaching martial arts and self-defense. This interconnectedness reinforces social bonds and enhances the overall well-being of residents.
In 2021, the center achieved full occupancy, illustrating the demand for both affordable housing and access to martial arts instruction. By prioritizing these elements, Lake Merritt Asian Cultural Arts Center Affordable Housing Corp plays a vital role in enriching the lives of Oakland's residents, fostering community engagement, and promoting public benefit.
This information is meant to be a general summary of Lake Merritt Asian Cultural Arts Center Affordable Housing Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $61,538
- Gross Receipts: $86,538
Assets and Liabilities:
- Total Assets: $568,077
- Total Liabilities: $310,117
- Net Assets: $257,960
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Organization Details
Founding Year
2013
Phone
(510) 452-3941Principal Officer
Michael Esmailzadeh
Main Address
103 International Blvd, Oakland, CA, 94606
NTEE Category
Code: W99 - Public benefit
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