2024-05-07T14:57:32-07:00 2023-12-31 990EZ 2023-01-01 954184854 LARC Support Foundation LARC 6612968636 29890 N Bouquet Canyon Road Saugus CA 91390 Larry Sallows CFO 2024-05-07 Larry Sallows 999009999 true 0 AAL1 IAL1 FAL1 2023 2023-04-26 12:10:37Z X X N/A X X 247 150 97 0 0 0 0 247 261 261 -14 5000 4986 X 5000 5129 5000 5129 143 5000 4986 LARC Support Foundation's primary charitable purpose is to provide long-term support for the benefit of Los Angeles Residential Community Foundation, a 501(C)(3)corporation, which provides shelter, job training, life skills training and other quality of life functions, for developmentally disabled adults. Support given to Controlling 512(b)13) Los Angeles Residential Community Foundation $0.Reimbursement of accounting fees $0. Robert Stewart Co President 1.00 0 John Acker Co President 1.00 0 Larry Sallows CFO 1.00 0 false false false false false false false 0 0 0 false 0 0 false CA Larry Sallows 29890 N Bouquet Canyon Road Saugus CA 91390 6612968636 false false false false false false false false false false false NONE NONE true X X 1 L A Residential Community Fnd 952134243 7 true 0 0 1 0 true false false false false false false false false false true false false false false true true true X true true Part IV, Section A, Line 9c: Disqualified Persons Ownership Interest In Assets Of Same Entity As Sup Supported Organization, Los Angeles Residential Community Foundation has an arrangement with one of its Board members, in which the Board member invests a portion of the Foundation endowment and Board restricted assets through his Brokerage firm of employment. Although the Board member receives no direct commission, he does receive an indirect commission from his overall investment cash account, which include the Organization's investments. The commision received is significantly below the threshold reporting level required by Form 990, Schedule L. LARC support Foundation's investment cash is held by the same common boardmember at the same brokerage firm. Part IV, Section D, Line 3: Role The Organization's Supported Orgs. Played Los Angeles Residential Community Foundation exercises direction over investment, donation and reimbursement policies of LARC Support Foundation.The support organizations Board members and CFO are the same as the Organization it supports, Los Angeles Residential Community Foundation. This organization is a contolled organization of its Support organization, as decribed by Code 512(b((13. The supporting organization's purpose is to collect donations and bequests and send the majority of the funds to it's Support Organization, and by providing that service, is used to further the exempt function of the Supported Organization. The organization is very small and has no employees. The members discussed conflicts of interest. However, only one member does business dealings as he is responsible for the cash account. However he receives no direct commision. The organization only keeps enoungh funds for cash investment and to maintain any ongoing administrative expense. The Board members closely monitor the supported organizations needs and spending. Part IV, Section E, Line 2a: Identify Supported Orgs. and Explain How Activities Furthered Exempt Pu The parent or controlling organization is Los Angeles Residential Community Foundation. Donations and reimbursements of expense are normally transferred to further the exempt function of the Controlling Organization, which is to provide residential housing and day programs that provide job training, life skills training and other quality of life functions to developmentally disabled adults. Part IV, Section E, Line 2b: Reasons For The Organization's Position LARC Support Foundation provides donations and bequests to help support parent organization , Los Angeles Residential Community Foundation, which exercises control of activities, since it has the same Board members. Total Liabilities.1001 Accounts Payable and Accrued Expenses - Beginning $0 Accounts Payable and Accrued Expenses - Ending $143