2025-02-24T12:00:47-06:00 2024-06-30 330700332 VASQUEZ COMPANY LLP 655 N CENTRAL AVE STE 1550 GLENDALE CA 91203 990 2023-07-01 953643339 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY ECON 2132364826 633 W 5TH STREET 3300 LOS ANGELES CA 90071 KENDAL TURNER CHIEF FINANCIAL OFFICER 2132364826 2025-02-19 1 0 X REGINA PRINCE CPA P00576936 2138731700 2023 2025-03-06 01:10:19Z X KENDAL TURNER 633 W 5TH STREET 3300 LOS ANGELES CA 90071 10662864 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. 90 90 35 109 0 0 3079228 3314027 2850655 3143064 -158239 2518072 57104 64242 5828748 9039405 220000 155000 0 0 4593264 5449047 0 0 430611 3056526 2924453 7869790 8528500 -2041042 510905 33343547 34353930 5880710 6230026 27462837 28123904 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, 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, PARTICULARY IN THE ECONOMICALLY DISTRESSED AREAS OF SAID COUNTY. THROUGH THE COLLABORATION WITH COMMUNITY, GOVERNMENT, BUSINESS, LABOR AND EDUCATION PARTNERS TO INFORM AND ADVANCE OUR DATA - DRIVEN AND EVIDENCE-BASED APPROACH, WE ENDEAVOR TO ACHIEVE A REIMAGINED REGIONAL ECONOMY - GROWING, EQUITABLE, SUSTAINABLE, AND RESILIENT- THAT PROVIDES HEALTHY AND HIGH STANDARD OF LIVING FOR ALL. 0 0 1856864 1188198 BUSINESS ASSISTANCE PROGRAMTHE LAEDC PROVIDES FREE ASSISTANCE TO SMALL BUSINESSES AND MICROENTERPRISES THROUGHOUT LOS ANGELES COUNTY, WITH A FOCUS ON WOMEN- AND MINORITY-OWNED BUSINESSES. DURING THE FISCAL YEAR, NUMEROUS BUSINESSES WERE REACHED THROUGH MULTICHANNEL OUTREACH, AND ONE-ON-ONE TECHNICAL ASSISTANCE WAS PROVIDED TO ADDRESS CHALLENGES IN THE CURRENT ECONOMY AND SUPPORT LOCAL JOB GROWTH. 1043628 718915 ECONOMIC FOCUSED EVENTSTHE 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 EDDY AWARDS IS THE MOST PRESTIGIOUS AWARDS PROGRAM TO RECOGNIZE LEADERSHIP IN ECONOMIC DEVELOPMENT IN BUSINESS, EDUCATION, AND GOVERNMENT THROUGHOUT LOS ANGELES COUNTY. THE LAEDC ORGANIZES VARIOUS EVENTS AND WEBINARS ANNUALLY TO PROVIDE VALUABLE INSIGHTS AND FOSTER COMMUNITY ENGAGEMENT. NOTABLE AMONG THESE IS THE ECONOMIC FORECAST, WHICH DELIVERS PROJECTIONS ON THE REGIONAL ECONOMY. THE EDDY AWARDS, THE ORGANIZATION'S MOST PRESTIGIOUS RECOGNITION PROGRAM, HONORS OUTSTANDING LEADERSHIP IN ECONOMIC DEVELOPMENT ACROSS BUSINESS, EDUCATION, GOVERNMENT, AND COMMUNITY PARTNERSHIPS WITHIN LOS ANGELES COUNTY.IN 2023, THE LAEDC HOSTED THE FOLLOWING MAJOR EVENTS:TWO FUTURE FORUMS: BIOSCIENCE (OCTOBER 2023) AND SPORTS & ENTERTAINMENT (JANUARY 2024)EDDY AWARDS (NOVEMBER 2023)ECONOMIC FORECAST (FEBRUARY 2024) 957950 892496 INSTITUTE FOR APPLIED ECONOMICSTHE LAEDC INSTITUTE FOR APPLIED ECONOMICS PROVIDES OBJECTIVE AND COMPREHENSIVE ECONOMIC AND POLICY ANALYSIS TO CLIENTS AND THE BROADER PUBLIC. THE INSTITUTE ALSO OFFERS PUBLIC WEBINARS ADDRESSING ECONOMIC TRENDS AND ISSUES THROUGHOUT THE YEAR.IN THE FISCAL YEAR, THE ORGANIZATION CONDUCTED ECONOMIC RESEARCH AND IMPACT REPORTS FOR APPROXIMATELY 22 CLIENTS. 3608093 343455 WORKFORCE DEVELOPMENTLAEDC'S 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 IS INTEGRATED INTO LAEDC'S RESEARCH, BUSINESS ASSISTANCE, INDUSTRY COUNCIL WORK AND THE FABRIC OF OUR MISSION. WE WORK IN BOTH THE STRATEGIC LEADERSHIP CAPACITY TO SUPPORT SYSTEMS CHANGE AND IN A PROGRAMMATIC ACTION LEVEL TO DRIVE PROGRESS.DURING THE YEAR, THE ORGANIZATION ENGAGED WITH 16,000 LA COUNTY STUDENTS AND JOB SEEKERS.STRATEGIC INITIATIVESTHE LAEDC IMPLEMENTED A SERIES OF STRATEGIC INITIATIVES TO ADDRESS THE EVOLVING NEEDS OF THE REGIONAL LABOR MARKET. THESE EFFORTS INCLUDED COLLABORATING WITH LOCAL COMMUNITY COLLEGES TO DEVELOP CURRICULUM ALIGNED WITH INDUSTRY DEMANDS AND SUPPORTING WORKERS SEEKING TO REENTER THE WORKFORCE. ADDITIONALLY, THE ORGANIZATION ADVANCED ITS DIGITAL EQUITY PROGRAM TO BRIDGE THE DIGITAL DIVIDE, PROVIDING ACCESS AND RESOURCES TO UNDERSERVED COMMUNITIES TO ENHANCE WORKFORCE READINESS AND ECONOMIC OPPORTUNITIES.SPECIAL PROJECTS (CALIFORNIA JOBS FIRST)THE CALIFORNIA JOBS FIRST PROGRAM, WITH THE LAEDC SERVING AS THE REGIONAL CONVENER, IS FOCUSED ON FOSTERING DIVERSE LOCAL ECONOMIES AND BUILDING SUSTAINABLE INDUSTRIES ACROSS LOS ANGELES COUNTY. THIS INITIATIVE AIMS TO GENERATE HIGH-QUALITY, ACCESSIBLE EMPLOYMENT OPPORTUNITIES WHILE PROMOTING EQUITABLE AND INCLUSIVE ECONOMIC GROWTH THROUGHOUT THE REGION.COED (CENTER OF ECONOMIC DEVELOPMENT)THE SOUTHERN CALIFORNIA LEADERSHIP COUNCIL, A PROGRAM SPONSORED BY THE LAEDC AND ALSO KNOWN AS THE CENTER FOR ECONOMIC DEVELOPMENT, PLAYS A CRITICAL ROLE IN ENSURING THE REGION'S ECONOMIC VITALITY AND QUALITY OF LIFE. ADDRESSING THE COMPLEX ECONOMIC AND SOCIAL CHALLENGES FACING SOUTHERN CALIFORNIA REQUIRES EFFECTIVE LEADERSHIP, WHICH IS OFTEN HINDERED BY THE REGION'S VAST SIZE AND MULTIFACETED NATURE. THE COUNCIL WORKS TO PROVIDE STRATEGIC GUIDANCE AND FOSTER COLLABORATION TO TACKLE THESE ISSUES AND PROMOTE SUSTAINABLE GROWTH.FEDERAL GRANT EDA BUILD BACK BETTERTHE 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. 3608093 343455 7466535 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 22 0 1 35 1 0 0 0 0 0 0 0 0 0 0 0 0 X 90 90 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 633 W 5TH STREET SUITE 3300 LOS ANGELES CA 90071 AARON COHEN DIRECTOR 1.00 0.00 X 0 0 0 ADAM BURKE DIRECTOR 1.00 0.00 X 0 0 0 ALEJANDRA SANTAMARIA DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 AMOS HIMMELSTEIN DIRECTOR 1.00 0.00 X 0 0 0 ANGELA YIM-SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 ARTHUR BILGER DIRECTOR 1.00 0.00 X 0 0 0 BARBARA JONES DIRECTOR 1.00 0.00 X 0 0 0 BILL DACUNTO DIRECTOR 1.00 0.00 X 0 0 0 BRENNON CRIST DIRECTOR 1.00 0.00 X 0 0 0 BRETT HOWROYD DIRECTOR 1.00 0.00 X 0 0 0 BRYAN LEROY DIRECTOR 1.00 0.00 X 0 0 0 BRYAN SASTOKAS DIRECTOR 1.00 0.00 X 0 0 0 BRYAN SCHWEICKERT DIRECTOR 1.00 0.00 X 0 0 0 CARISSA SMITH DIRECTOR 1.00 0.00 X 0 0 0 CATHERINE REHEIS-BOYD DIRECTOR 1.00 0.00 X 0 0 0 CYNTHIA COULTER DIRECTOR 1.00 0.00 X 0 0 0 DANIEL LEDGER DIRECTOR 1.00 0.00 X 0 0 0 DANIEL TIMMONS DIRECTOR 1.00 0.00 X 0 0 0 DAVID ABEL DIRECTOR 1.00 0.00 X 0 0 0 DAVID FLEMING DIRECTOR 1.00 0.00 X 0 0 0 DAVID FOLEY DIRECTOR 1.00 0.00 X 0 0 0 DAVID HILL DIRECTOR 1.00 0.00 X 0 0 0 DAVID TUCKER DIRECTOR 1.00 0.00 X 0 0 0 DEVORAH LIEBERMAN DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 DIANA BOYADJIAN DIRECTOR 1.00 0.00 X 0 0 0 DR NOEL HACEGABA DIRECTOR 1.00 0.00 X 0 0 0 EFFIE TURNBULL SANDERS DIRECTOR 1.00 0.00 X 0 0 0 EFRAIN ESCOBEDO DIRECTOR 1.00 0.00 X 0 0 0 ELLIE CASSON DIRECTOR 1.00 0.00 X 0 0 0 ERIC BULLARD DIRECTOR 1.00 0.00 X 0 0 0 ERIC ROWEN DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 ERIKA BECK 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 GENE BLOCK DIRECTOR 1.00 0.00 X 0 0 0 GENE HALE DIRECTOR 1.00 0.00 X 0 0 0 GENE SEROKA DIRECTOR 1.00 0.00 X 0 0 0 GERARD OROZCO DIRECTOR 1.00 0.00 X 0 0 0 GOETZ WOLFF DIRECTOR 1.00 0.00 X 0 0 0 HALE BEHZADI DIRECTOR 1.00 0.00 X 0 0 0 HARRY ELAM DIRECTOR 1.00 0.00 X 0 0 0 JANE CONOLEY DIRECTOR 1.00 0.00 X 0 0 0 JARRET BARRIOS DIRECTOR 1.00 0.00 X 0 0 0 JAYME S WILSON DIRECTOR 1.00 0.00 X 0 0 0 JEFF ASSAF DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 JEFF WILSON DIRECTOR 1.00 0.00 X 0 0 0 JEFFREY R JENNISON DIRECTOR 1.00 0.00 X 0 0 0 JIM CORONADO DIRECTOR 1.00 0.00 X 0 0 0 JODIE LESH DIRECTOR 1.00 0.00 X 0 0 0 JOHN ACKERMAN DIRECTOR 1.00 0.00 X 0 0 0 JOHN LOFTUS DIRECTOR 1.00 0.00 X 0 0 0 JOSE GOMEZ DIRECTOR 1.00 0.00 X 0 0 0 JOSEPH VILLELA DIRECTOR 1.00 0.00 X 0 0 0 JUAN SALAZAR DIRECTOR 1.00 0.00 X 0 0 0 JUSTIN ERBACCI DIRECTOR 1.00 0.00 X 0 0 0 JUSTIN THOMPSON DIRECTOR 1.00 0.00 X 0 0 0 KAREN SESSIONS DIRECTOR 1.00 0.00 X 0 0 0 KATHLEEN RAWSON DIRECTOR 1.00 0.00 X 0 0 0 KELLY LOBIANCO DIRECTOR 1.00 0.00 X 0 0 0 LAURIE SEWELL DIRECTOR 1.00 0.00 X 0 0 0 LES MCCABE DIRECTOR 1.00 0.00 X 0 0 0 LEWIS C HORNE DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 LILIT ZIBARI DIRECTOR 1.00 0.00 X 0 0 0 LILLY ROCHA DIRECTOR 1.00 0.00 X 0 0 0 LINDA OUBRE DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 LUCI IBARRA DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 MARIA CAMACHO DIRECTOR 1.00 0.00 X 0 0 0 MARIA GARCIA DIRECTOR 1.00 0.00 X 0 0 0 MARIANA HOLLIDAY DIRECTOR 1.00 0.00 X 0 0 0 MARK PESTRELLA DIRECTOR 1.00 0.00 X 0 0 0 MARK SOGOMIAN DIRECTOR 1.00 0.00 X 0 0 0 MAURA O'CONNOR DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL WEINTRAUB DIRECTOR 1.00 0.00 X 0 0 0 MINAL MONDKAR DIRECTOR 1.00 0.00 X 0 0 0 MONICA BANKEN DIRECTOR 1.00 0.00 X 0 0 0 NARINEH MAKIJIAN DIRECTOR 1.00 0.00 X 0 0 0 NATALINE LOMEDICO DIRECTOR 1.00 0.00 X 0 0 0 PATRICK MCCLENAHAN DIRECTOR 1.00 0.00 X 0 0 0 PORSHA CROPPER DIRECTOR 1.00 0.00 X 0 0 0 PRAFUL KULKARNI DIRECTOR 1.00 0.00 X 0 0 0 RON FRIERSON DIRECTOR 1.00 0.00 X 0 0 0 ROSE NORDBROCK DIRECTOR 1.00 0.00 X 0 0 0 SANTIAGO MUNOZ DIRECTOR 1.00 0.00 X 0 0 0 SCHENAE ROURK DIRECTOR 1.00 0.00 X 0 0 0 SHANNON SULLIVAN DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 SPENCER SMITH DIRECTOR 1.00 0.00 X 0 0 0 STEVEN NISSEN DIRECTOR 1.00 0.00 X 0 0 0 STEVEN OLSON DIRECTOR 1.00 0.00 X 0 0 0 THOMAS M PRISELAC DIRECTOR 1.00 0.00 X 0 0 0 THOMAS PARHAM DIRECTOR 1.00 0.00 X 0 0 0 THOMAS WINGARD DIRECTOR 1.00 0.00 X 0 0 0 TIMOTHY ANDERSON DIRECTOR 1.00 0.00 X 0 0 0 TOM VANDIVER DIRECTOR 1.00 0.00 X 0 0 0 TRAVIS KIYOTA DIRECTOR 1.00 0.00 X 0 0 0 WINSTON DAMARILLO DIRECTOR 1.00 0.00 X 0 0 0 YVETTE ESTRADA DIRECTOR 1.00 0.00 X 0 0 0 ZACK SOKOLOFF DIRECTOR 1.00 0.00 X 0 0 0 ZANKU AMERNIAN DIRECTOR 1.00 0.00 X 0 0 0 ANDY STEINHAUSER DIRECTOR (UNTIL 2023) 1.00 0.00 X 0 0 0 KENDAL R TURNER EXECUTIVE VICE PRES./CFO 40.00 22.00 X 264710 0 34167 STEPHEN CHEUNG PRESIDENT AND CEO 40.00 0.00 X 395000 0 40192 JERMAINE HAMPTON VICE PRESIDENT WORKFORCE DEVELOPMENT & SPECIAL PR 40.00 0.00 X 167125 0 25695 MELISSA KHAMVONGSA VICE PRESIDENT STRATEGIC RELATIONS 40.00 0.00 X 227791 0 36982 SHANNON SEDGWICK DIR. INSTITUTE OF APPLIED ECONOMICS 40.00 0.00 X 174382 0 21595 BARBARA LEVINE DIRECTOR OF BUSINESS ASSISTANCE PROGRAM 40.00 0.00 X 153079 0 21476 JUSTIN ADAMS SENIOR ECONOMIST 40.00 0.00 X 137353 0 17621 LARRY HOLT VP BUSINESS ASSISTANCE AND INTERNATIONAL TRADE 40.00 0.00 X 137687 0 6200 RICK DAVILA DIRECTOR OF IT AND FACILITIES 40.00 0.00 X 132675 0 4658 SONIA ESTRADA SENIOR DIRECTOR ACCOUNTING & ADMINISTRATION 40.00 0.00 X 138258 0 19278 1928060 0 227864 10 0 1 0 3158 STRATEGIES INC DBA SOUTHERN CALIF 201 N HARBOR BLVD STE 205 FULLERTON CA 92832 CONSULTING SCLC/COED 281000 LEGENDS SPORTS LLC 61 BROADWAY SUITE 2400 NEW YORK NY 10006 VENUE/EVENTS 264007 DBA MIKE ROOS AND COMPANY 76065 VIA SOVANA INDIAN WELLS CA 92210 CONSULTING SCLC/COED 198000 3 958500 1551527 804000 3314027 CONSULTING & SERVICE CONTRACTS 541720 2387249 2387249 SPONSORED EVENT PROGRAMS 541720 755815 755815 3143064 647531 647531 64228 0 64228 64228 64228 3494000 1623459 1870541 1870541 1870541 OTHER INCOME 541900 14 14 14 9039405 3143064 0 2582314 X 155000 155000 1387638 1251234 44605 91799 2904769 2619231 93373 192165 114520 103263 3681 7576 716702 646251 23038 47413 325418 293430 10460 21528 1436 1310 114 12 98900 90227 7871 802 265454 265454 904036 874022 25989 4025 32670 27579 4667 424 79241 69044 8103 2094 206396 179288 23778 3330 390199 324196 53200 12803 86051 64944 19483 1624 678639 622562 18157 37920 102942 80790 17532 4620 44078 34593 7507 1978 DUES AND SUBSCRIPTIONS 29308 25318 3492 498 UNCOLLECTIBLE ACCOUNTS 5103 4253 850 8528500 7466535 631354 430611 1657437 1326102 548808 1746089 1209482 1880021 441332 303070 855307 366951 17651 488356 17680729 18038428 6877091 6165000 4911017 4406864 33343547 34353930 906654 1449241 219563 300745 4754493 4480040 5880710 6230026 X 27462837 28123904 27462837 28123904 33343547 34353930 510905 150162 0 X 0 1 X 1 1 1 X 4931509 2400500 2203402 3079228 3314027 15928666 4931509 2400500 2203402 3079228 3314027 15928666 15928666 553613 369652 1028327 547113 711759 3210464 13990 415 14 14419 19153549 17373084 0.83160 0.85420 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 13,990. 2022 AMOUNT: $ 415. 2023 AMOUNT: $ 14. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 110960 6964 103996 744347 359987 384360 488356 NON PUBLICLY TRADED INVESTMENTS 6165000 F 6165000 INTERCOMPANY RECEIVABLE 299302 OPERATING RIGHT-OF-USE ASSET 4107562 4406864 INTERCOMPANY PAYABLES 40965 OPERATING LEASE LIABILITY 4439075 4480040 X 9273188 150162 27123 321952 499237 8773951 265454 265454 9039405 8915529 27123 625360 652483 8263046 265454 265454 8528500 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, 2024 AND 2023 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, 2024 AND 2023, LAEDC HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS, TAX PENALTIES OR INTEREST. LAEDC'S INCOME TAX RETURNS REMAIN SUBJECT TO EXAMINATION GENERALLY FOR THREE AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE REVENUE FOR AFFILIATES 321,952. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE EXPENSES FOR AFFILIATES 625,360. 1 WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 330190964 501(C)(3) 155000 0 TO SUPPORT THE MARKETING AND PROMOTION EFFORTS OF THE LOS ANGELES COUNTY REGION. 1 0 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 STEPHEN CHEUNG PRESIDENT AND CEO 357500 0 37500 0 0 0 18300 0 21892 0 435192 0 0 0 KENDAL R TURNER EXECUTIVE VICE PRES./CFO 244710 0 20000 0 0 0 14162 0 20005 0 298877 0 0 0 MELISSA KHAMVONGSA VICE PRESIDENT STRATEGIC RELATIONS 212791 0 15000 0 0 0 13340 0 23642 0 264773 0 0 0 SHANNON SEDGWICK DIR. INSTITUTE OF APPLIED ECONOMICS 164382 0 10000 0 0 0 10213 0 11382 0 195977 0 0 0 JERMAINE HAMPTON VICE PRESIDENT WORKFORCE DEVELOPMENT 162125 0 5000 0 0 0 2193 0 23502 0 192820 0 0 0 BARBARA LEVINE DIRECTOR OF BUSINESS ASSISTANCE PROG 138079 0 15000 0 0 0 9032 0 12444 0 174555 0 0 0 SONIA ESTRADA SENIOR DIRECTOR ACCOUNTING & ADMINIS 132258 0 6000 0 0 0 8010 0 11268 0 157536 0 0 0 JUSTIN ADAMS SENIOR ECONOMIST 134020 0 3333 0 0 0 2658 0 14963 0 154974 0 0 0 ACT-1 >35% OWNED BY DIRECTOR 263616 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 FORMER DIRECTOR 77479 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 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 OF LOS ANGELES COUNTY 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 OF LOS ANGELES COUNTY. ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 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 LAEDC IN THE LAST SIX MONTHS. LAEDC'S CFO EVALUATES THE FORMS FOR POTENTIAL CONFLICTS OF INTEREST. LAEDC ALSO REQUIRES ALL DIRECTORS TO ANNUALLY SIGN A STATEMENT AFFIRMING (A) RECEIPT OF LAEDC'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 FOLLOWS A COMPREHENSIVE PROCESS FOR REVIEWING AND APPROVING THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER, OTHER OFFICERS, AND KEY EMPLOYEES TO ENSURE IT IS FAIR, REASONABLE, AND ALIGNED WITH MARKET STANDARDS. THIS PROCESS INCLUDES OBTAINING THIRD-PARTY COMPENSATION STUDIES, CONDUCTING MARKET ANALYSES THROUGH RESEARCHERS, AND MARKET TRENDS, WHILE CONSIDERING EMPLOYEE PERFORMANCE. THE GOVERNANCE AND COMPENSATION COMMITTEE REVIEWS THE COMPILED DATA AND RECOMMENDS A PROPOSED COMPENSATION PACKAGE TO THE FULL BOARD OF DIRECTORS FOR DISCUSSION, VOTE, AND APPROVAL. ANY INDIVIDUALS WITH CONFLICTS OF INTEREST ABSTAIN FROM DELIBERATION AND VOTING. BOARD MINUTES DOCUMENT THE COMPENSATION ARRANGEMENT, THE DATE OF APPROVAL, THE MEMBERS PRESENT DURING DELIBERATIONS AND VOTING, A DETAILED DESCRIPTION OF THE COMPARABLE DATA AND ITS SOURCES, AND THE BASIS FOR THE FINAL DETERMINATION. THIS ENSURES TRANSPARENCY AND COMPLIANCE WITH THE ORGANIZATION'S GOAL OF RETAINING QUALIFIED EMPLOYEES AT COMPETITIVE COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19 SOME OR ALL THESE ITEMS MAY BE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANT: PROGRAM SERVICE EXPENSES 463,064. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 463,064. TEMPORARY EMPLOYMENT SERVICES: PROGRAM SERVICE EXPENSES 70,957. MANAGEMENT AND GENERAL EXPENSES 6,194. FUNDRAISING EXPENSES 630. TOTAL EXPENSES 77,781. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 318,927. MANAGEMENT AND GENERAL EXPENSES 17,957. FUNDRAISING EXPENSES 3,208. TOTAL EXPENSES 340,092. AGENCY FEES: PROGRAM SERVICE EXPENSES 21,074. MANAGEMENT AND GENERAL EXPENSES 1,838. FUNDRAISING EXPENSES 187. TOTAL EXPENSES 23,099. CALIFORNIA INDUSTRY EDUCATION INSTITUTE 633 W 5TH STREET SUITE 3300 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 633 W 5TH STREET SUITE 3300 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 633 W 5TH STREET SUITE 3300 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 0 0 1 0 0 WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH B 155000 BOOK WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH Q 234971 COST