2024-10-11T15:40:07-05:00 2023-12-31 320530003 QUIGLEY & MIRON 3550 WILSHIRE BLVD 1660 LOS ANGELES CA 90010 990 2023-01-01 261117569 BEVERLY-VERMONT COMMUNITY LAND TRUST BEVE 2135377295 117 BIMINI PLACE LOS ANGELES CA 90004 ARA KIM DIRECTOR OF FINANCE AND OPERATIONS 2135377295 2024-10-11 0 ARMEN GRIGORIAN P01582463 2136393550 2023 2024-10-15 13:58:12Z ARA KIM 117 BIMINI PLACE LOS ANGELES CA 90004 786565 0 X BVCLT.ORG X 2008 CA BEVERLY VERMONT COMMUNITY LAND TRUST IS A COMMUNITY-BASED ORGANIZATION DEDICATED TO PROVIDING OPPORTUNITIES FOR LOW-TO-MODERATE INCOME RESIDENTS TO SECURE HOUSING THAT IS DECENT, AFFORDABLE AND CONTROLLED BY THE RESIDENTS ON A LONG-TERM BASIS. IT IS EQUALLY DEDICATED TO USING LAND AND NATURAL RESOURCES TO PROMOTE THE LONG-TERM WELL-BEING OF THE COMMUNITY AND THE ENVIRONMENT. OUR LONG-TERM GOAL IS TO ENSURE CONTINUED AND EXPANDED LONG-TERM AFFORDABLE RESIDENT-CONTROLLED HOUSING OPPORTUNITIES FOR LOW TO MODERATE INCOME RESIDENTS, ENVIRONMENTAL RESTORATION, PEDESTRIA-ORIENTED TRANSPORTATION, RECREATIONAL GREEN SPACE AND SUSTAINABLE SMALL BUSINESS. 10 8 3 8 0 0 524077 524097 1550 51685 3 93 224684 210690 750314 786565 0 0 0 0 171066 230213 0 0 39136 293830 358403 464896 588616 285418 197949 5190811 5587747 507937 706924 4682874 4880823 X BVCLT HAS BEEN INVOLVED IN MANY INTERNAL AND EXTERNAL PROGRAM DEVELOPMENT IN 2023. INTERNALLY, BVCLT STAFF HAS LED A WEBSITE REDESIGN, CREATED A STRATEGIC PLAN, HIRED A THIRD STAFF MEMBER MID-YEAR, AND BEGAN REHABILITATION OF THREE OF OUR PROPERTIES. EXTERNALLY, BVCLT HAS HOSTED FOUR FELLOWS PROGRAMS FOR THE SECOND YEAR IN A ROW. BVCLT STAFF LED MULTIPLE GRADUATE STUDENT RESEARCH PROJECTS REGARDING AFFORDABLE HOUSING AND ANTI-GENTRIFICATION IN KOREATOWN, LOS ANGELES. BVCLT ENGAGED IN MULTIPLE COALITIONS IN ORDER TO ADVOCATE FOR PERMANENTLY AFFORDABLE HOUSING, COLLECTIVE OWNERSHIP MODELS, FUNDING SOURCES TO SUPPORT TENANTS ORGANIZED IN STRUGGLE TO MAINTAIN IN THEIR HOMES, AND AN ECOLOGICALLY JUST NEIGHBORHOODS PRESERVING WORKING CLASS COMMUNITIES OF COLOR IN THEIR HOMES IN THE FACE OF GENTRIFICATION TO KOREATOWN AND THE SURROUNDING NEIGHBORHOODS. 0 0 485088 262375 BEVERLY-VERMONT COMMUNITY LAND TRUST (BVCLT) HAS COMPLETED MULTIPLE PROGRAM ACCOMPLISHMENTS. IN TERMS OF PUBLIC ADVOCACY, BVCLT WORKED IN TANDEM WITH 200+ COMMUNITY ORGANIZATIONS TO GET THE UNITED TO HOUSE LA (ULA) PASSED ON THE BALLOT. BVCLT WILL CONTINUE WORKING IN COALITION SPACES TO ENSURE THAT ULA IS IMPLEMENTED CORRECTLY. IN TERMS OF PROGRAMS, BVCLT PARTNERED WITH CALIFORNIA CENTER FOR COOPERATIVE DEVELOPMENT (CCCD) TO SUPPORT ONE OF THEIR BUILDINGS TRANSITIONING FROM RENTAL TO A COOPERATIVELY OWNED AND GOVERNED BUILDING ON CLT LAND. ADDITIONALLY, BVCLT LAUNCHED THEIR FIRST COMMUNITY OWNERSHIP FELLOWSHIP PROGRAM. BVCLT BROUGHT ON FOUR COMMUNITY MEMBERS FROM THE NEIGHBORHOODS BVCLT SERVES AND ENGAGED THEM FOR FIVE (5) MONTHS ON COOPERATIVE DEVELOPMENT, RESEARCH, AND PUBLIC ADVOCACY FOR PUBLIC FUNDING TO ADVANCE TENANT OWNERSHIP OF THEIR BUILDINGS IN LOS ANGELES. LASTLY, IN TERMS OF RESEARCH, BVCLT DIRECTED AND SUPERVISED A YEAR-LONG CAPSTONE PROJECT FROM A UCLA MASTER'S OF URBAN PLANNING STUDENT. THE COMPLETED REPORT ANALYZES PUBLIC DATA TO UNDERSTAND WHAT THE STATE OF KOREATOWN IS: WHO LIVES THERE, WHAT HAS THE RATE OF DISPLACEMENT AND INCREASED RENT BEEN OVER THE YEARS, WHAT TYPES OF BUILDINGS HAVE THE MOST AFFORDABLE RENTS, AND FINANCIAL ANALYSIS ON THE TOTAL DEVELOPMENT COST TO ACQUIRE AND REHABILITATE THE BUILDING FOR COMMUNAL OWNERSHIP. WE WILL BE WORKING WITH A GRAPHIC DESIGNER TO MAKE THE CONTENT OF THIS REPORT ACCESSIBLE FOR THE COMMUNITY AND LAUNCH THE REPORT IN 2023. 485088 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 3 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 10 8 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 CA X X ELIZABETH MORRISON 2135377295 117 BIMINI PLACE 201 LOS ANGELES CA 90004 LINDA REYES PRESIDENT 2.00 X X 0 0 0 STEVEN SIMON VICE PRESIDENT 2.00 X X 0 0 0 AUDREY YOUNSOOK JANG TREASURER 2.00 X X 0 0 0 YUKI KIDOKORO DIRECTOR 2.00 X 0 0 0 IXCHEL HERNANDEZ DIRECTOR 2.00 X 0 0 0 MICHELLE WONG DIRECTOR 2.00 X 0 0 0 XITLALLI VELASQUEZ DIRECTOR 2.00 X 0 0 0 CHRIS CUELLAR DIRECTOR 2.00 X 0 0 0 FAIZAH BARLAS DIRECTOR OF FINANCE & OPER 40.00 X X 84373 0 6000 KASEY VENTURA COMMUNITY ORGANIZER 40.00 X X 84373 0 6000 168746 0 12000 0 0 0 0 0 810 523287 524097 PARTICIPATION FEES 900099 51685 51685 51685 93 93 210690 0 210690 210690 210690 786565 262375 0 93 X 180744 119292 30726 30726 28655 18911 4872 4872 3500 2310 595 595 17314 11428 2943 2943 4341 4341 14055 14055 123098 121111 1987 5248 3148 2100 575 575 45728 45728 67822 67822 9574 8461 1113 REPAIRS AND MAINTENANCE 46293 46293 TAXES AND LICENSES 26001 24341 1660 UTILITIES 15248 15248 BANK SERVICE CHARGES 420 420 588616 485088 64392 39136 743962 1022236 5679 5682 20000 187500 10448 4470 3868 4981 4305141 241730 4095183 4063411 311671 299467 5190811 5587747 20607 5974 480784 690784 6546 10166 507937 706924 X 4339828 4408981 343046 471842 4682874 4880823 5190811 5587747 197949 0 X X 0 1 X 1 0 X 10684 5175 3623995 524077 524097 4688028 86883 79527 239742 226234 267175 899561 97567 84702 3863737 750311 791272 5587589 0 0 0 5587589 37 20 32 3 93 185 37 20 32 3 93 185 97604 84722 3863769 750314 791365 5587774 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2457886 2457886 1847255 241730 1605525 4063411 OTHER ASSETS 1675 LAND LEASE 284342 EMPLOYEE ADVANCES 13450 299467 SECURITY DEPOSITS 10166 10166 X PART X, LINE 2: ACCOUNTING STANDARDS REQUIRE AN ORGANIZATION TO EVALUATE ITS TAX POSITIONS AND PROVIDE FOR A LIABILITY FOR ANY POSITIONS THAT WOULD NOT BE CONSIDERED 'MORE LIKELY THAN NOT' TO BE UPHELD UNDER A TAX AUTHORITY EXAMINATION. MANAGEMENT HAS EVALUATED ITS TAX POSITIONS AND HAS CONCLUDED THAT A PROVISION FOR A TAX LIABILITY IS NOT NECESSARY AT DECEMBER 31, 2023. GENERALLY, THE ORGANIZATION'S INFORMATION RETURNS REMAIN OPEN FOR EXAMINATION FOR A PERIOD OF THREE (FEDERAL) OR FOUR (STATE OF CALIFORNIA) YEARS FROM THE DATE OF FILING. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT FORM 990 IS CIRCULATED TO ALL BOARD MEMBERS PRIOR TO FILING FOR QUESTIONS, COMMENTS OR OTHER INPUT. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST TO THE ORGANIZATION. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 89,200. MANAGEMENT AND GENERAL EXPENSES 1,987. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 91,187. PROPERTY MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 31,911. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,911. FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT COMMITTEE HAS RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT AUDITOR, SUBJECT TO THE APPROVAL OF THE BOARD OF TRUSTEES. THIS RESPONSIBILITY IS UNCHANGED FROM THE PRIOR YEAR.