2024-05-15T16:36:23-05:00 2023-06-30 330700332 VASQUEZ COMPANY LLP 655 N CENTRAL AVE STE 1550 GLENDALE CA 91203 990 2022-07-01 953643339 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY ECON 2132364826 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 KENDAL TURNER CHIEF FINANCIAL OFFICER 2132364826 2024-05-15 1 KENDAL TURNER 999009999 0 REGINA PRINCE CPA P00576936 2138731700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KENDAL TURNER 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 12840411 0 X WWW.LAEDC.ORG X 1981 CA THE LAEDC'S PRINCIPAL OBJECTIVE IS TO COLLECTIVELY ADVANCE ECONOMIC OPPORTUNITY AND PROSPERITY AND RAISE STANDARDS OF LIVING FOR ALL LOS ANGELES (LA) COUNTY RESIDENTS THROUGH PROGRAMS, PROJECTS AND ACTIVITIES OF A PUBLIC NATURE. AS LA'S ONLY COUNTYWIDE ECONOMIC DEVELOPMENT ORGANIZATION, THE LAEDC PROVIDES COLLABORATIVE, INNOVATIVE, AND STRATEGIC ECONOMIC DEVELOPMENT LEADERSHIP TO PROMOTE A MORE ROBUST, EQUITABLE, SUSTAINABLE, AND RESILIENT LA COUNTY ECONOMY TO IMPROVE THE HEALTH AND WELLBEING OF THE REGION'S RESIDENTS AND COMMUNITIES AND ENABLE THOSE RESIDENTS TO MEET THEIR BASIC HUMAN NEED FOR A JOB. LAEDC ACHIEVES THIS THROUGH OBJECTIVE ECONOMIC RESEARCH AND ANALYSIS; PROGRAMMATIC AND ON-THE-GROUND TECHNICAL AND TRANSACTIONAL ASSISTANCE TO BUSINESS, GOVERNMENT, EDUCATION, AND WORKFORCE DEVELOPMENT SYSTEMS; AND TARGETED PUBLIC POLICY AND ISSUE ADVOCACY. 80 80 32 81 0 0 2203402 3079228 5416956 2850655 1698573 -158239 55939 57104 9374870 5828748 0 220000 0 0 4541582 4593264 0 0 481797 4546211 3056526 9087793 7869790 287077 -2041042 29436314 33343547 2143605 5880710 27292709 27462837 X THE FUNCTION OF THE CORPORATION SHALL BE TO EASE THE BURDENS OF GOVERNMENT BY ASSISTING, IMPLEMENTING, SUPPORTING AND/OR CONTRIBUTING TO THE SUPPORT OF PROGRAMS, PROJECTS AND ACTIVITIES OF A PUBLIC NATURE. WHICH ARE DIRECTED TOWARD IMPROVING ECONOMIC CONDITIONS THROUGHOUT LOS ANGELES COUNTY, TO PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF BUSINESS AND JOBS THROUGHOUT LOS ANGELES COUNTY, AND EDUCATING THE PUBLIC THROUGH ECONOMIC RESEARCH, ANALYSIS AND OTHERWISE. BY SERVING AS A VEHICLE TO FACILITATE COOPERATION BETWEEN THE PUBLIC AND PRIVATE SECTOR. THE CORPORATION WILL COALESCE LOCAL, STATE AND FEDERAL RESOURCES TO INCREASE PRIVATE INVESTMENT, PARTICULARLY IN THE ECONOMICALLY DISTRESSED AREAS OF SAID COUNTY. 0 0 1695079 941633 THE LAEDC OFFERS FREE ASSISTANCE TO SMALL BUSINESSES AND MICRO-ENTERPRISES THROUGHOUT LOS ANGELES COUNTY, WITH A PARTICULAR FOCUS ON WOMEN AND MINORITY-OWNED BUSINESSES AND ATTRACTING, RETAINING AND GROWING JOBS FOR THE RESIDENTS OF LA COUNTY. DURING THIS FISCAL YEAR, NUMBERS OF BUSINESSES WERE REACHED THROUGH MULTI-CHANNEL INFORMATIONAL OUTREACH, AND NUMBERS WERE SERVED ONE-ON-ONE WITH TECHNICAL ASSISTANCE TO HELP OUR SMALL BUSINESSES AND THEIR EMPLOYEES SURVIVE COVID-19 PANDEMIC. 1236598 942685 THE LAEDC HOSTS A NUMBER OF EVENTS AND WEBINARS EACH YEAR TO INFORM THE COMMUNITY, ONE OF THE MOST WELL KNOWN IS THE ECONOMIC FORECAST, WHICH OFFERS ATTENDEES VALUABLE INSIGHTS ON THE ECONOMIC PROJECTIONS FOR THE REGIONAL ECONOMY. THE 88 CITIES SUMMIT CONVENES LEADERS FROM LOCAL GOVERNMENTS TO DISCUSS ECONOMIC CHALLENGES AND OPPORTUNITIES OUR COMMUNITIES FACE. THE EDDY AWARDS IS THE MOST PRESTIGIOUS AWARDS PROGRAM TO RECOGNIZE LEADERSHIP IN ECONOMIC DEVELOPMENT IN BUSINESS, EDUCATION, AND GOVERNMENT THROUGHOUT LOS ANGELES COUNTY. DURING THE YEAR, THE ORGANIZATION HOSTS ABOUT 1800 EVENTS. 1040138 732281 THE LAEDC INSTITUTE FOR APPLIED ECONOMICS' MISSION IS TO PROVIDE OBJECTIVE AND UNPARALLELED ECONOMIC AND POLICY EXPERTISE TO OUR CLIENTS AND THE BROADER PUBLIC AUDIENCE. IN ADDITION, LAEDC ECONOMISTS PRESENT REGULAR PUBLIC WEBINARS ON THE EVOLVING IMPACT OF THE PANDEMIC THROUGHOUT THE ENTIRE FISCAL YEAR. DURIGN THE YEAR, THE ORGANIZATION CONDUCTED ECONOMIC RESEARCH AND IMPACT REPORTS TO ABOUT 15 CUSTOMERS. 2683690 234056 STRATEGIC INITIATIVESTHE LAEDC PERFORMED A SERIES OF STRATEGIC INITIATIVES DESIGNED TO CREATE SAFER WORKING ENVIRONMENTS IN COMMUNITIES HARDEST HIT BY THE PANDEMIC AS WELL AS WORKING WITH AREA COMMUNITY COLLEGES TO INFORM THE DEVELOPMENT OF CURRICULUM TO BETTER MEET THE RAPIDLY EVOLVING LABOR MARKET NEEDS OF LOCAL INDUSTRIES AND EMPLOYERS, AND WORKERS DISLOCATED FROM THEIR EMPLOYMENT BY THE PANDEMIC'S ECONOMIC DISRUPTIONS.FEDERAL GRANT EDA BUILD BACK BETTER THE LA REGION'S BUILD BACK BETTER PHASE 1 PROPOSAL WAS SUBMITTED BY A POWERFUL COALITION OF PUBLIC AND PRIVATE PARTNERS WHO SHARE OUR STATE AND LOCAL GOVERNMENT VISION OF EQUITABLE AND SUSTAINABLE GROWTH FOR OUR GOODS MOVEMENT ECOSYSTEM (GME) REGIONAL GROWTH CLUSTER, CENTERED ON THE INNATE CONVERGENCE OF THE BLUE AND GREEN REGENERATIVE ECONOMIES AT AND BEYOND THE WATERFRONT TO GROW NEW JOBS AND ENTERPRISES FOR OUR REGION, PARTICULARLY FOR HISTORICALLY EXCLUDED POPULATIONS, WHILE IMPROVING OUR ENVIRONMENT AND INCREASING RESILIENCE OF AMERICA'S LEADING TRADE GATEWAY.COED/SCLC "TO ENSURE THE REGION'S ECONOMIC VITALITY AND QUALITY OF LIFE" - LEADERSHIP IS OF PRIME IMPORTANCE AS SOUTHERN CALIFORNIANS WRESTLE WITH CRITICAL ECONOMIC AND SOCIAL ISSUES. YET, THE CHALLENGES TO EXERTING EFFECTIVE LEADERSHIP ON ISSUES THAT IMPACT THE REGION ARE MANY, PRIMARILY BECAUSE OF SOUTHERN CALIFORNIA'S SIZE AND COMPLEXITY.SPECIAL PROJECTS CERF THE CREATION OF THE CALIFORNIA JOBS FIRST (FORMERLY CERF), AIMS TO FACILITATE A SUSTAINABLE AND JUST REBOUND FROM THE ECONOMIC CHALLENGES POSED BY COVID-19. CALIFORNIA JOBS FIRST IS DEDICATED TO FOSTERING DIVERSE LOCAL ECONOMIES AND ESTABLISHING SUSTAINABLE INDUSTRIES THAT GENERATE HIGH-QUALITY EMPLOYMENT OPPORTUNITIES ACCESSIBLE TO ALL CALIFORNIANS.WORKFORCETHE WORKFORCE DEVELOPMENT PROGRAM EXISTS TO CREATE ECONOMIC MOBILITY AND EQUITY, SUPPORT THE TALENT NEEDS OF BUSINESS, AND ALIGN EDUCATION WITH EVOLVING INDUSTRY TRENDS. WORKFORCE DEVELOPMENT INTEGRATED INTO LAEDC'S RESEARCH, BUSINESS ASSISTANCE, INDUSTRY COUNCIL WORK AND THE FABRIC OF OUR MISSION. 2683690 234056 6655505 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 1 24 0 1 32 1 0 0 0 0 0 0 0 0 0 0 0 0 X 80 80 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X KENDAL TURNER 2132364826 444 S FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 AARON COHEN DIRECTOR 1.00 0.00 X 0 0 0 TRAVIS KIYOTA DIRECTOR 1.00 0.00 X 0 0 0 YVETTE ESTRADA DIRECTOR 1.00 0.00 X 0 0 0 ALEJANDRA SANTAMARIA DIRECTOR 1.00 0.00 X 0 0 0 MARIA GARCIA DIRECTOR 1.00 0.00 X 0 0 0 ERIC BULLARD DIRECTOR 1.00 0.00 X 0 0 0 SHANNON SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 DIANA BOYADJIAN DIRECTOR 1.00 0.00 X 0 0 0 BILL DACUNTO DIRECTOR 1.00 0.00 X 0 0 0 FESIA DAVENPORT DIRECTOR 1.00 0.00 X 0 0 0 FRANCES TEVES DIRECTOR 1.00 0.00 X 0 0 0 JUAN SALAZAR DIRECTOR 1.00 0.00 X 0 0 0 NARINEH MAKIJIAN DIRECTOR 1.00 0.00 X 0 0 0 GERARD OROZCO DIRECTOR 1.00 0.00 X 0 0 0 CYNTHIA COULTER DIRECTOR 1.00 0.00 X 0 0 0 BARBARA JONES DIRECTOR 1.00 0.00 X 0 0 0 ANDY STEINHAUSER DIRECTOR 1.00 0.00 X 0 0 0 BRYAN SASTOKAS DIRECTOR 1.00 0.00 X 0 0 0 HARRY ELAM DIRECTOR 1.00 0.00 X 0 0 0 JODIE LESH DIRECTOR 1.00 0.00 X 0 0 0 ERIC ROWEN DIRECTOR (UNTIL APRIL 2023) 1.00 0.00 X 0 0 0 ADAM BURKE DIRECTOR 1.00 0.00 X 0 0 0 DAVID ABEL DIRECTOR 1.00 0.00 X 0 0 0 BRETT HOWROYD DIRECTOR 1.00 0.00 X 0 0 0 THOMAS WINGARD DIRECTOR 1.00 0.00 X 0 0 0 DAN MONTPLAISIR DIRECTOR (UNTIL MARCH 2023) 1.00 0.00 X 0 0 0 BRENNON CRIST DIRECTOR 1.00 0.00 X 0 0 0 THOMAS PARHAM DIRECTOR 1.00 0.00 X 0 0 0 GEOFFREY DANKER DIRECTOR (UNTIL JANUARY 2023) 1.00 0.00 X 0 0 0 JANE CONOLEY DIRECTOR 1.00 0.00 X 0 0 0 JOSE GOMEZ DIRECTOR 1.00 0.00 X 0 0 0 JUSTIN ERBACCI DIRECTOR 1.00 0.00 X 0 0 0 ERIKA BECK DIRECTOR 1.00 0.00 X 0 0 0 KATY YOUNG YAROSLAVSKY DIRECTOR (UNTIL AUGUST 2022) 1.00 0.00 X 0 0 0 JEFF WILSON DIRECTOR 1.00 0.00 X 0 0 0 DANIEL LEDGER DIRECTOR (UNTIL DECEMBER 2022) 1.00 0.00 X 0 0 0 DAVID FLEMING DIRECTOR 1.00 0.00 X 0 0 0 LAURIE SEWELL DIRECTOR 1.00 0.00 X 0 0 0 GENE HALE DIRECTOR 1.00 0.00 X 0 0 0 LEWIS C HORNE DIRECTOR 1.00 0.00 X 0 0 0 THOMAS M PRISELAC DIRECTOR 1.00 0.00 X 0 0 0 BROOK TAYLOR DIRECTOR (UNTIL DECEMBER 2022) 1.00 0.00 X 0 0 0 HALE BEHZADI DIRECTOR 1.00 0.00 X 0 0 0 STEVEN NISSEN DIRECTOR 1.00 0.00 X 0 0 0 MONICA BANKEN DIRECTOR 1.00 0.00 X 0 0 0 ROSE NORDBROCK DIRECTOR 1.00 0.00 X 0 0 0 TOM VANDIVER DIRECTOR 1.00 0.00 X 0 0 0 NATALINE LOMEDICO DIRECTOR 1.00 0.00 X 0 0 0 MARK SOGOMIAN DIRECTOR 1.00 0.00 X 0 0 0 PATRICK MCCLENAHAN DIRECTOR 1.00 0.00 X 0 0 0 PRAFUL KULKARNI DIRECTOR 1.00 0.00 X 0 0 0 JEFF ASSAF DIRECTOR 1.00 0.00 X 0 0 0 JUSTIN THOMPSON DIRECTOR 1.00 0.00 X 0 0 0 DAVID FOLEY DIRECTOR 1.00 0.00 X 0 0 0 DANIEL TIMMONS DIRECTOR 1.00 0.00 X 0 0 0 BRYAN SCHWEICKERT DIRECTOR 1.00 0.00 X 0 0 0 MARK PESTRELLA DIRECTOR 1.00 0.00 X 0 0 0 LILLY ROCHA DIRECTOR 1.00 0.00 X 0 0 0 MARIA CAMACHO DIRECTOR 1.00 0.00 X 0 0 0 DEVORAH LIEBERMAN DIRECTOR 1.00 0.00 X 0 0 0 KELLY LOBIANCO DIRECTOR 1.00 0.00 X 0 0 0 MAURA O'CONNOR DIRECTOR 1.00 0.00 X 0 0 0 CATHERINE REHEIS-BOYD DIRECTOR 1.00 0.00 X 0 0 0 LINDA OUBRE DIRECTOR 1.00 0.00 X 0 0 0 ARTHUR BILGER DIRECTOR 1.00 0.00 X 0 0 0 GOETZ WOLFF DIRECTOR 1.00 0.00 X 0 0 0 LUCI IBARRA DIRECTOR 1.00 0.00 X 0 0 0 JAYME S WILSON DIRECTOR 1.00 0.00 X 0 0 0 DR NOEL HACEGABA DIRECTOR 1.00 0.00 X 0 0 0 GENE SEROKA DIRECTOR 1.00 0.00 X 0 0 0 MARIANA HOLLIDAY DIRECTOR 1.00 0.00 X 0 0 0 JOHN LOFTUS DIRECTOR 1.00 0.00 X 0 0 0 JEFFREY R JENNISON DIRECTOR 1.00 0.00 X 0 0 0 ZACK SOKOLOFF DIRECTOR 1.00 0.00 X 0 0 0 SCHENAE ROURK DIRECTOR 1.00 0.00 X 0 0 0 GENE BLOCK DIRECTOR 1.00 0.00 X 0 0 0 SANTIAGO MUNOZ DIRECTOR 1.00 0.00 X 0 0 0 EFFIE TURNBULL SANDERS DIRECTOR 1.00 0.00 X 0 0 0 ELLIE CASSON DIRECTOR 1.00 0.00 X 0 0 0 STEVEN OLSON DIRECTOR 1.00 0.00 X 0 0 0 ANGELA YIM-SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 DAVID HILL DIRECTOR 1.00 0.00 X 0 0 0 ZANKU AMERNIAN DIRECTOR 1.00 0.00 X 0 0 0 SCOTT WITTER DIRECTOR (UNTIL JANUARY 2023) 1.00 0.00 X 0 0 0 RON FRIERSON DIRECTOR 1.00 0.00 X 0 0 0 EFRAIN ESCOBEDO DIRECTOR 1.00 0.00 X 0 0 0 RUDY MEDINA CHAIRMAN 3.00 0.00 X X 0 0 0 WILLIAM C ALLEN PRESIDENT/CEO 40.00 22.00 X 490196 0 38582 STEPHEN CHEUNG EXECUTIVE VICE PRES./COO 40.00 22.00 X 318425 0 38844 KENDAL R TURNER EXECUTIVE VICE PRES./CFO 40.00 22.00 X 255467 0 33480 JESSICA KIM KU VP WORKFORCE & BUS. DEVELOPMENT 40.00 0.00 X 152352 0 15333 SHANNON SEDWICK DIR. INSTITUTE OF APPLIED ECONOMIC 40.00 0.00 X 166237 0 20606 ROBERT A MACHUCA DISTRICT DIRECTOR 40.00 0.00 X 147979 0 22461 BARBARA LEVINE DIRECTOR BUSINESS ASSISTANCE PROGRAM 40.00 0.00 X 147979 0 20587 MELISSA KHAMVONGSA VICE PRESIDENT STRATEGIC RELATIONS 40.00 0.00 X 217071 0 35365 1895706 0 225258 13 0 1 0 LEGENDS SPORTS LLC 61 BROADWAY SUITE 2400 NEW YORK NY 10006 VENUE/EVENTS 249348 3158 STRATEGIES INC DBA SOUTHERN CALIF 201 N HARBOR BLVD STE 205 FULLERTON CA 92832 CONSULTING SCLC/COED 240000 MICHAEL ROOS 76065 VIA SOVANA INDIAN WELLS CA 92210 CONSULTING SCLC/COED 180000 3 1325228 1754000 3079228 CONSULTING & SERVICE CONTRACTS 541720 1907695 1907695 SPONSORED EVENT PROGRAMS 541720 942960 942960 2850655 490424 490424 56689 0 56689 56689 56689 6363000 7011663 -648663 -648663 -648663 OTHER INCOME 541900 415 415 415 5828748 2850655 0 -101135 X 220000 220000 1342679 1191843 46064 104772 2263223 2008974 77645 176604 84637 75129 2904 6604 634695 563393 21775 49527 268030 237920 9195 20915 2136 1967 138 31 78475 72280 5073 1122 203507 203507 823886 741475 67483 14928 26016 23962 1682 372 59239 50828 5962 2449 226557 193068 25596 7893 655130 473540 137209 44381 51120 35868 9028 6224 645662 612425 1403 31834 85557 61721 18010 5826 44044 31774 9271 2999 OTHER EXPENSES 75353 28810 43962 2581 DUES AND SUBSCRIPTIONS 44844 17146 26162 1536 UNCOLLECTIBLE ACCOUNTS 35000 13382 20419 1199 7869790 6655505 732488 481797 1858758 1657437 669421 548808 970668 1209482 190603 441332 281661 264010 103207 17651 18463184 17680729 6324000 6877091 856473 4911017 29436314 33343547 1112983 906654 546451 219563 484171 4754493 2143605 5880710 X 27292709 27462837 27292709 27462837 29436314 33343547 -2041042 2211170 0 X 0 1 X 1 1 1 X 4846165 4931509 2400500 2203402 3079228 17460804 4846165 4931509 2400500 2203402 3079228 17460804 17460804 467327 553613 369652 1028327 547113 2966032 13990 415 14405 20441241 16395396 0.85420 0.87290 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 13,990. 2022 AMOUNT: $ 415. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 281661 264010 17651 17651 NON PUBLICLY TRADED INVESTMENTS 6877091 F 6877091 INTERCOMPANY RECEIVABLE 668529 OPERATING RIGHT-OF-USE ASSET 4242488 4911017 INTERCOMPANY PAYABLES 504742 OPERATING LEASE LIABILITY 4249751 4754493 X 8653512 2211170 68964 544630 2824764 5828748 0 5828748 8258019 68964 319265 388229 7869790 0 7869790 PART X, LINE 2: LAEDC IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE AND IS GENERALLY NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. HOWEVER, LAEDC IS SUBJECT TO INCOME TAXES ON ANY NET INCOME THAT IS DERIVED FROM A TRADE OR BUSINESS, REGULARLY CARRIED ON, AND NOT IN FURTHERANCE OF THE PURPOSES FOR WHICH IT WAS GRANTED EXEMPTION. NO INCOME TAX PROVISION HAS BEEN RECORDED FOR THE YEARS ENDED JUNE 30, 2023 AND 2022 AS THE NET INCOME, IF ANY, FROM ANY UNRELATED TRADE OR BUSINESS, IN THE OPINION OF MANAGEMENT, IS NOT MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS TAKEN AS A WHOLE. U.S. GAAP REQUIRES THAT AN ORGANIZATION RECOGNIZE IN THE FINANCIAL STATEMENTS THE IMPACT OF A TAX POSITION IF THAT POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. AS OF AND FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, LAEDC HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS, TAX PENALTIES OR INTEREST. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE REVENUE FOR AFFILIATES 544,630. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE EXPENSES FOR AFFILIATES 319,265. 1 WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 330190964 501(C)(3) 220000 0 TO SUPPORT THE MARKETING AND PROMOTION EFFORTS OF THE LOS ANGELES COUNTY REGION. PART I, LINE 2: THE ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U. S. INCLUDE OBTAINING REPORTS THAT SUPPORT THE BUDGETED AMOUNTS SUBMITTED WITH THE GRANT REQUEST ARE SPENT ACCORDINGLY. FINANCIAL REPORTS ARE PERIODICALLY OBTAINED TO SUPPORT THE GRANT EXPENDITURES ARE CONSISTENT WITH THE WRITTEN AGREEMENT. X X X 0 0 0 0 0 0 0 0 0 WILLIAM C ALLEN PRESIDENT/CEO 390000 0 100000 0 196 0 18300 0 20282 0 528778 0 0 0 STEPHEN CHEUNG EXECUTIVE VICE PRES./COO 293229 0 25000 0 196 0 18300 0 20544 0 357269 0 0 0 KENDAL R TURNER EXECUTIVE VICE PRES./CFO 235271 0 20000 0 196 0 12441 0 21039 0 288947 0 0 0 MELISSA KHAMVONGSA VICE PRESIDENT STRATEGIC RELATIONS 201875 0 15000 0 196 0 13012 0 22353 0 252436 0 0 0 SHANNON SEDWICK DIR. INSTITUTE OF APPLIED ECONOMIC 158041 0 8000 0 196 0 9769 0 10837 0 186843 0 0 0 ROBERT A MACHUCA DISTRICT DIRECTOR 132979 0 15000 0 0 0 8879 0 13582 0 170440 0 0 0 BARBARA LEVINE DIRECTOR BUSINESS ASSISTANCE PROGRAM 132979 0 15000 0 0 0 8878 0 11709 0 168566 0 0 0 JESSICA KIM KU VP WORKFORCE & BUS. DEVELOPMENT 137189 0 15000 0 163 0 5678 0 9655 0 167685 0 0 0 ACT-1 >35% OWNED BY DIRECTOR 99582 SERVICES LAEDC PURCHASED TEMPORARY PERSONNEL SERVICES FROM ACT 1, WHICH IS A 35% OR > OWNED ENTITY OF BRETT HOWROYD, A BOARD MEMBER. THE SERVICES WERE PURCHASED AT PREVAILING MARKET RATES. 0 ICG ADVISORS LLC >35% OWNED BY DIRECTOR 69620 SERVICES INVESTMENT PORTFOLIO MANAGEMENT SERVICES ARE PROVIDED BY ICG ADVISORS, LLC, WHICH IS A 35% OR > OWNED ENTITY OF A BOARD DIRECTOR, JEFF ASSAF. THE SERVICES WERE PURCHASED AT STANDARD INDUSTRY RATES LESS A DISCOUNT. 0 CAPITAL GROUP >35% OWNED BY DIRECTOR 78133 SERVICES INVESTMENT PORTFOLIO MANAGEMENT SERVICES ARE PROVIDED BY CAPITAL GROUP, WHICH IS A 35% OR > OWNED ENTITY OF A BOARD DIRECTOR, DAVID FOLEY. THE SERVICES WERE PURCHASED AT STANDARD INDUSTRY RATES LESS A DISCOUNT. 0 FORM 990, PART VI, SECTION B, LINE 11B THE LAEDC'S OUTSIDE AUDITORS AND FINANCE STAFF PREPARE THE FORM 990. THE FORM IS SUBMITTED FOR REVIEW TO THE GOVERNANCE COMMITTEE AND AUDIT COMMITTEE. THE FORM AND ALL SCHEDULES ARE THEN PROVIDED TO THE FULL BOARD BEFORE E-FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ECONOMIC DEVELOPMENT CORPORATION REQUIRES THAT BOARD MEMBERS, OFFICERS AND EMPLOYEES SHALL NOT HAVE UNDISCLOSED FINANCIAL INTERESTS THAT CONFLICT OR APPEAR TO CONFLICT WITH THEIR RESPONSIBILITIES WITH ECONOMIC DEVELOPMENT CORPORATION. ECONOMIC DEVELOPMENT CORPORATION REQUIRES DISCLOSURE OF ALL SOURCES OF INCOME FROM COMPENSATION OR FROM OWNERSHIP OF EVERY OUTSIDE ENTITY THAT (A) SOLD, SUPPLIED OR PROVIDED SERVICES, (B) OPERATED A COMPETING ENTERPRISE, OR(C) PROVIDED GOODS OR SERVICES TO EDC IN THE LAST SIX MONTHS. EDC'S CFO EVALUATES THE FORMS FOR POTENTIAL CONFLICTS OF INTEREST. EDC ALSO REQUIRES ALL DIRECTORS TO ANNUALLY SIGN A STATEMENT AFFIRMING (A) RECEIPT OF EDC'S CONFLICT OF INTEREST POLICY, (B) UNDERSTANDING OF THE POLICY, AND (C) AGREEMENT WITH THE POLICY FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BOARD OF DIRECTORS HAS A PROCESS FOR REVIEWING AND APPROVING THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER AND OTHER OFFICERS AND KEY EMPLOYEES ON A REGULAR BASIS TO DETERMINE IT IS FAIR AND REASONABLE WITH THE GOAL OF RETAINING EMPLOYEES AT COMPENSATION LEVELS WITHIN APPROPRIATE MARKET RANGE. THE PROCESS FOR DETERMINING THE COMPENSATION PAID TO THE CHIEF EXECUTIVE OFFICER AND OTHER OFFICERS AND KEY EMPLOYEES INCLUDES THE APPROVAL OF THE COMPENSATION ARRANGEMENT IN ADVANCE, WITH ALL PERSONS WITH A CONFLICT OF INTEREST ABSTAINING FROM THE DELIBERATION AND DISCUSSION OF THE TRANSACTION. THE BOARD OF DIRECTORS REVIEWS DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES AT SIMILARLY SITUATED ENTITIES. THE DOCUMENTATION IN THE BOARD MINUTES INCLUDES THE TERMS OF THE TRANSACTION AND THE DATE OF APPROVAL, THE MEMBERS WHO WERE PRESENT DURING THE DEBATE AND VOTE ON THE TRANSACTION, A DESCRIPTION OF THE COMPARABLE DATA AND HOW IT WAS OBTAINED, AND DOCUMENTATION OF THE BASIS FOR THE DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 SOME OR ALL THESE ITEMS MAYBE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANT: PROGRAM SERVICE EXPENSES 111,583. MANAGEMENT AND GENERAL EXPENSES 23,273. FUNDRAISING EXPENSES 5,148. TOTAL EXPENSES 140,004. TEMPORARY EMPLOYMENT SERVICES: PROGRAM SERVICE EXPENSES 105,691. MANAGEMENT AND GENERAL EXPENSES 7,418. FUNDRAISING EXPENSES 1,641. TOTAL EXPENSES 114,750. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 524,201. MANAGEMENT AND GENERAL EXPENSES 36,792. FUNDRAISING EXPENSES 8,139. TOTAL EXPENSES 569,132. CALIFORNIA INDUSTRY EDUCATION INSTITUTE 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 954482044 DEVELOPING PROGRAMS WITH CA COLLEGES TO ASSIST THE GROWTH OF JOBS IN LA CNTY CA 501(C)(3) LINE 7 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 1 ACTIVATE LA INC FKA EDC PRODUCT DEVELOPMENT FUND 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 954482158 EASE THE BURDENS OF GOVERNMENT BY ASSISTING ACTIVITIES OF A PUBLIC NATURE CA 501(C)(3) LINE 7 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 1 WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 330190964 PROMOTE INTERNATIONAL TRADE AND FOREIGN DIRECT INVESTMENT CA 501(C)(3) LINE 7 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH B 220000 BOOK WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH Q 143409 COST