2024-11-13T16:04:26-06:00 2023-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2023-01-01 510189851 CHINESE AMERICAN GOLDEN AGE ASSOCIATION CHIN 6265717977 234 NORTH RURAL DRIVE MONTEREY PARK CA 91755 RICHARD HAN CFO 6265717977 2024-11-08 1 0 EVAN ANTTONEN P01925603 3178485700 2023 2024-10-15 13:58:12Z RICHARD HAN 234 NORTH RURAL DRIVE MONTEREY PARK CA 91755 2627457 0 X N/A X 1975 CA CHINESE AMERICAN GOLDEN AGE ASSOCIATION (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 120 UNIT PROPERTY KNOWN AS GOLDEN AGE VILLAGE (THE "PROPERTY") LOCATED IN MONTEREY PARK, CALIFORNIA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO AND IS GOVERNED BY A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE PROJECT, THROUGH A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) WITH HUD, PROVIDES SUBSIDIES SAFE, ADEQUATE HOUSING FACILITY TO ELIGIBLE TENANTS. 7 7 0 0 0 0 1949517 1932256 500080 522281 -197991 333110 26535 1533 2278141 2789180 0 0 0 0 0 0 0 0 0 1393226 2072626 1393226 2072626 884915 716554 6140625 25341100 54511 18538432 6086114 6802668 X CHINESE AMERICAN GOLDEN AGE ASSOCIATION (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 120 UNIT PROPERTY KNOWN AS GOLDEN AGE VILLAGE (THE "PROPERTY") LOCATED IN MONTEREY PARK, CALIFORNIA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO AND IS GOVERNED BY A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE PROJECT, THROUGH A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) WITH HUD, PROVIDES SUBSIDIES SAFE, ADEQUATE HOUSING FACILITY TO ELIGIBLE TENANTS. 0 0 1890651 855391 CHINESE AMERICAN GOLDEN AGE ASSOCIATION (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 120 UNIT PROPERTY KNOWN AS GOLDEN AGE VILLAGE (THE "PROPERTY") LOCATED IN MONTEREY PARK, CALIFORNIA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO AND IS GOVERNED BY A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE PROJECT, THROUGH A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) WITH HUD, PROVIDES SUBSIDIES SAFE, ADEQUATE HOUSING FACILITY TO ELIGIBLE TENANTS. 1890651 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 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 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 CA X LEVINE MANAGEMENT INC 3103583489 822 S ROBERTSON STE 200 LOS ANGELES CA 90035 X DR IRIS CHI PRESIDENT 20.00 X X 0 0 0 MAY MA ROSS SECRETARY 2.00 X X 0 0 0 RICHARD HAN CFO 4.00 X X 0 0 0 DR CARRIE LEW DIRECTOR 2.00 X 0 0 0 GEORGE LIN DIRECTOR 2.00 X 0 0 0 CECILIA WU ESQ DIRECTOR 2.00 X 0 0 0 TIM LI DIRECTOR 2.00 X 0 0 0 0 0 0 0 0 0 0 0 1929856 2400 1932256 RENTAL INCOME 531110 522281 522281 522281 171387 171387 -161723 161723 161723 161723 PROPERTY TAX REFUND 531110 1533 1533 1533 2789180 855391 0 1533 125745 125745 17971 17971 17600 17600 12755 12755 1316589 1316589 7904 7904 179 179 160313 160313 132380 132380 MANAGEMENT COMPANY EMPL 148499 148499 SERVICE COORDINATOR CON 129742 129742 BAD DEBTS 2949 2949 2072626 1890651 181975 0 974714 626062 3782 1422 9241 108975 5945998 4030127 1473440 1915871 556239 715705 26228 28484 260803 3096981 21683778 6140625 25341100 18976 224937 141 451 18266534 35394 46510 54511 18538432 X 6086114 6802668 6086114 6802668 6140625 25341100 716554 0 X X 0 1 X 1 1 1 X 903630 1929958 1991147 1949517 1929856 8704108 443654 456611 453765 500080 522281 2376391 1347284 2386569 2444912 2449597 2452137 11080499 0 0 0 11080499 597 1034 792 843 956 4222 597 1034 792 843 956 4222 26535 1533 28068 1347881 2387603 2445704 2476975 2454626 11112789 0.99710 0.99690 0.00040 0.00040 X SCHEDULE A, PART III, LINE 12: MISCELLANEOUS INCOME CONSISTS OF A REAL ESTATE TAX REFUND RECEIVED IN 2023. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 682249 682249 5031792 3801961 1229831 231957 228166 3791 1915871 SECURITY DEPOSITS 46340 OTHER RESERVES 20511263 CONSTRUCTION IN PROGRESS 551151 RESERVE REPLACEMENT FUND 575024 21683778 SECURITY DEPOSITS 37081 DUE TO AFFILIATE 9429 46510 X 2454626 -161723 -161723 2616349 172831 172831 2789180 2002511 0 2002511 70116 70116 2072627 PART X, LINE 2: THE PROPERTY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE RETURNS ARE SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY. PART XI, LINE 4B - OTHER ADJUSTMENTS: BROKERAGE STATEMENT INCOME 172,831. PART XII, LINE 4B - OTHER ADJUSTMENTS: BROKERAGE STATEMENT EXPENSES 57,604. REFINANCE ACTIVITY 12,512. FORM 990, PART VI, SECTION A, LINE 3 CHINESE AMERICAN GOLDEN AGE ASSOCIATION, INC. IS MANAGED BY LEVINE MANAGEMENT GROUP, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. LEVINE MANAGEMENT GROUP HAS A PROJECT OWNERS AND MANAGEMENT AGENTS CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED LEVINE MANAGEMENT GROUP TO MANAGE THE CHINESE AMERICAN GOLDEN AGE ASSOCIATION COMPLEX. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. FORM 990, PART VI, SECTION B, LINE 11B THE AUDITING FIRM SENDS A DRAFT OF THE RETURN TO THE MANAGEMENT COMPANY. THE MANAGEMENT COMPANY FORWARDS A COPY OF THE RETURN TO EACH BOARD MEMBER FOR THEIR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PAGE 12, PART XII, QUESTIONS 2C: THE MANAGEMENT COMPANY RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, A COPY OF THE AUDIT IS GIVEN TO ALL OF THE BOARD MEMBERS FOR THEIR COMMENTS. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM. FORM 990, PART VI, SECTION B, LINE 15: THE ORGANIZATION DOES NOT COMPENSATE OFFICERS OR DIRECTORS (SEE PAGE 7, PART VII). IF THE ORGANIZATION REVISES THEIR POSITION ON COMPENSATION OF OFFICERS AND DIRECTORS, AN ADDITIONAL POLICY WILL BE DRAFTED AT THAT TIME. LEISURE COURT LLC 234 N RURAL DRIVE MONTERY PARK CA 91755 852816278 RENTAL REAL ESTATE - LOW INCOME HOUSING CA 17409 10452911 CHINESE AMERICAN GOLDEN AGE ASSOCIATION