Pacific Asian Consortium In Employment
- Assets
- $12.5m
- Revenue
- $30.5m
- Investments
- $0.0
- Employees
- 375
- Location
- Los Angeles, CA
- Founding
- 06/1976
- Data as of
- 06/2022
- EIN
- 51-0192025
Organization Overview
Pacific Asian Consortium In Employment is located in Los Angeles, CA. The organization was established in 1976. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Pacific Asian Consortium In Employment employed 375 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pacific Asian Consortium In Employment is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Pacific Asian Consortium In Employment generated $30.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $30.2m during the year ending 06/2022. While expenses have increased by 4.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PACE'S MISSION IS TO SERVE AS A RESOURCE FOR IDENTIFYING, SECURING AND ADMINISTERING ECONOMIC SOLUTIONS TO PROBLEMS OF HOUSING, UNEMPLOYMENT AND BUSINESS DEVELOPMENT, WHILE SERVING THE COMMUNITY AT LARGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD EDUCATION & NUTRITION SERVICES:1,170 CHILDREN ENROLLED IN HEADSTART15 SCHOOL SITES96,629 PARENT VOLUNTEER HOURS299,542 MEALS PREPARED & SERVED1,926 CHILDREN & FAMILIES SERVED
COMMUNITY DEVELOPMENT:26,892 CLIENTS RECEIVING EMERGENCY UTILITY PAYMENT ASSISTANCE (LIHEAP & HEAP)$12,479,700 EMERGENCY UTILITY PAYMENTS4,146 CLIENTS SERVED THROUGH WEATHERIZATION PROGRAMS4,012 TOTAL HOUSEHOLDS SERVED BY THE ENERGY SAVINGS ASSISTANCE PROGRAM127 RESIDENTS SERVED THROUGH HANDYWORKER PROGRAM60 UNITS REHABBED THROUGH HANDYWORKER PROGRAM3,493 ENTREPRENEURS TRAINED/COUNSELED552 SMALL BUSINESSES ASSISTED316 JOBS CREATED/RETAINED462 WOMEN ENTREPRENEURS SERVED$18,092,504 LOANS PACKAGED/PLACE/FUNDED437 FINANCIAL EDUCATION TRAINEES
EMPLOYMENT & TRAINING SERVICES:1,800 WORKERS TRAINED/PLACED$18.03 AVERAGE HOURLY WAGE OF PLACED WORKERS$2,039,193 ANNUAL WAGES EARNED BY PLACED WORKERS49 ENROLLMENTS IN SUBSIDIZED EMPLOYMENT PROGRAM23 COMPLETIONS OF SUBSIDIZED EMPLOYMENT TRAINING11 WORKERS TRANSITIONING FROM SUBSIDIZED TO UNSUBSIDIZED EMPLOYMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil Yoneji Board Member | Trustee | 2 | $0 |
Sandy Sakamoto Board Chair | OfficerTrustee | 2 | $0 |
Jon Mayeda Board Secretary | OfficerTrustee | 2 | $0 |
Mike Eng Board Vice-Chair And Treasurer | OfficerTrustee | 2 | $0 |
Kerry N Doi President & CEO | OfficerTrustee | 40 | $346,778 |
Rachelle S Pastor Arizmendi VP & COO Thru 2/15/22 | OfficerTrustee | 40 | $190,150 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rdoneit Llc Hvac | 6/29/22 | $774,969 |
Reliable Energy Management Inc Hvac/plumbing/intake/wx Installation | 6/29/22 | $671,151 |
Yude Wu Residence Repairs | 6/29/22 | $130,445 |
Cross County Education Teacher Substitution Services | 6/29/22 | $138,649 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $28,457,014 |
| All other contributions, gifts, grants, and similar amounts not included above | $812,461 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,269,475 |
| Total Program Service Revenue | $1,007,238 |
| Investment income | $59,951 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,459,422 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $469,671 |
| Compensation of current officers, directors, key employees. | $469,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,974,118 |
| Pension plan accruals and contributions | $824,216 |
| Other employee benefits | $3,123,199 |
| Payroll taxes | $1,236,064 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,661 |
| Fees for services: Accounting | $117,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,187,095 |
| Advertising and promotion | $137,507 |
| Office expenses | $0 |
| Information technology | $679,665 |
| Royalties | $0 |
| Occupancy | $2,175,659 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $103,802 |
| Interest | $11,455 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,683 |
| Insurance | $364,775 |
| All other expenses | $0 |
| Total functional expenses | $30,220,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,777,103 |
| Savings and temporary cash investments | $629,759 |
| Pledges and grants receivable | $1,734,213 |
| Accounts receivable, net | $219,312 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,329,488 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $62,693 |
| Net Land, buildings, and equipment | $30,268 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,753,344 |
| Total assets | $12,536,180 |
| Accounts payable and accrued expenses | $803,132 |
| Grants payable | $0 |
| Deferred revenue | $8,693 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,120,527 |
| Unsecured mortgages and notes payable | $8,076 |
| Other liabilities | $3,879,537 |
| Total liabilities | $5,819,965 |
| Net assets without donor restrictions | $6,570,632 |
| Net assets with donor restrictions | $145,583 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,536,180 |