Overview
What is Ltsc Community Development Corporation?
The Ltsc Community Development Corporation, also known as LTSC, is a nonprofit organization based in Los Angeles, California. Established with a mission to contribute to the community's physical, social, cultural, and economic revitalization, LTSC focuses on preserving the Japanese American and multi-ethnic culture and history of Little Tokyo. They have renovated four buildings in the Little Tokyo Historic District on First Street and provide services to residents in affordable housing buildings in the downtown Los Angeles area. LTSC aims to be a resource for similar community economic development efforts in other low-income communities, particularly Asian and Pacific Islander communities. Their core activities include developing, providing, and maintaining affordable housing and housing-related services for the benefit of low to moderate income individuals in Little Tokyo and the greater Los Angeles metropolitan area. With a team of 137 employees, LTSC's purpose is to provide a comprehensive array of social welfare and community development activities to assist those in need.
Official website here: www.ltsc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Star rating)
Ltsc Community Development Corporation has achieved an impressive 95% rating, indicating a strong commitment to accountability and finance. This score is derived entirely from its performance in these areas, showcasing the organization’s transparency and responsible management of resources. The high rating reflects effective governance practices, including having a fully independent board and robust oversight mechanisms.
The organization has demonstrated excellence in various metrics, such as maintaining a high program expense ratio of 84.75%, which suggests a strong focus on fulfilling its mission through programmatic activities. Additionally, the absence of material diversion of assets and the implementation of conflict of interest and whistleblower policies further strengthen its operational integrity.
However, while the organization excels in accountability and finance, specific user feedback regarding programmatic impact or community engagement was not highlighted in the data. This could indicate areas for potential growth in showcasing the tangible effects of their work in the community. Overall, Ltsc Community Development Corporation stands out as a financially sound and well-governed nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Ltsc Community Development Corporation legitimate?
Ltsc Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ltsc Community Development Corporation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
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Other Salaries and Wages: $6,005,457
For more financial information, click here
Official website here: www.ltsc.org
What is the mission statement of Ltsc Community Development Corporation?
The Ltsc Community Development Corporation aims to provide a range of social welfare and community development activities to assist low-income individuals and those in need. Its mission goes beyond Little Tokyo, as it also serves as a resource for similar community economic development efforts in other low-income communities, particularly Asian and Pacific Islander communities. The organization's primary focus is on preserving the Japanese American and multi-ethnic culture and history of Little Tokyo, while contributing to its physical, social, cultural, and economic revitalization. Furthermore, the corporation develops, provides, and maintains affordable housing and housing-related services in the Little Tokyo area and the greater Los Angeles metropolitan area for the benefit of low to moderate income people.
Official website here: www.ltsc.org
Who is the CEO of Ltsc Community Development Corporation?
Erich Nakano is the President of Ltsc Community Development Corporation.
Official website here: www.ltsc.org
What is the revenue of Ltsc Community Development Corporation?
Ltsc Community Development Corporation's revenue in 2022 was $23,573,245.
Official website here: www.ltsc.org
Who are the executives of Ltsc Community Development Corporation and what are their salaries?
The average compensation at Ltsc Community Development Corporation during 2022 was $43,835. There are 137 employees at Ltsc Community Development Corporation.
Here are 31 key members and their salaries:
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Official website here: www.ltsc.org
Where can I find the form 990 for Ltsc Community Development Corporation?
Ltsc Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ltsc.org
Learn more at the official website: www.ltsc.org
Mission Statement of Ltsc Community Development Corporation
Ltsc Community Development Corporation, a nonprofit organization, strives to provide a comprehensive range of social welfare and community development activities to assist low-income individuals and those in need. The mission of Ltsc goes beyond just preserving the Japanese American and multi-ethnic culture and history of Little Tokyo. It aims to contribute to the physical, social, cultural, and economic revitalization of the community.
In the heart of this endeavor, Ltsc serves as a valuable resource for similar community economic development efforts in other low-income communities, with a particular focus on Asian and Pacific Islander communities. Moreover, the organization is dedicated to developing, providing, and maintaining affordable housing and housing-related services in the Little Tokyo area and the greater Los Angeles metropolitan area for the benefit of low to moderate income people.
By planning, promoting, and supporting community development activities, Ltsc Community Development Corporation plays a vital role in enhancing the overall well-being of the community it serves. Its commitment extends beyond the cultural and historical preservation of Little Tokyo; it also addresses the essential need for affordable housing and essential services to ensure that residents can thrive in their community.
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Impact
October, 2024
Ltsc Community Development Corporation has made a significant impact in the Los Angeles area by focusing on comprehensive social welfare and community development activities. The organization has promoted community economic development by developing, providing, and maintaining affordable housing, which directly benefits low-income individuals and families.
In the Little Tokyo community, it has played a crucial role in preserving the unique cultural legacy and historical significance of the area. By acquiring and renovating several buildings in the Little Tokyo Historic District, Ltsc helps maintain the cultural identity and vibrancy of this multi-ethnic neighborhood.
Moreover, the organization provides essential services to residents of its affordable housing units, ensuring they have access to resources that enhance their quality of life. Through its mission, Ltsc not only supports the revitalization of Little Tokyo but also serves as a model for community development efforts in other low-income regions, particularly within Asian and Pacific Islander communities. The overall result is a more vibrant, inclusive, and economically stable community that honors its cultural heritage while addressing the critical needs of its residents.
This information is meant to be a general summary of Ltsc Community Development Corporation. 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: $3,554,189
- Gross Receipts: $23,839,062
Assets and Liabilities:
- Total Assets: $83,519,714
- Total Liabilities: $42,909,311
- Net Assets: $40,610,403
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REAL ESTATE INCOME
Revenue
$1,257,084
SERVICE FEE
Revenue
$1,169,897
DEVELOPER FEES
Revenue
$609,720
ASSET & PROPERTY MANAGEMENT
Revenue
$280,618
PARTNERSHIP FEES
Revenue
$236,870
Organization Details
Founding Year
1993
Phone
(213) 473-3030Principal Officer
Erich Nakano
Main Address
231 E THIRD STREET G106, LOS ANGELES, CA, 90013
Website
www.ltsc.orgNTEE Category
Code: L20Z - Housing
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