2026-05-15T14:09:33-05:00 2025-06-30 330700332 VASQUEZ COMPANY LLP 655 N CENTRAL AVE STE 1550 GLENDALE CA 91203 990 2024-07-01 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 2026-05-14 1 1 REGINA PRINCE CPA P00576936 2138731700 2024 2025-03-06 01:10:19Z KENDAL TURNER 633 W 5TH STREET 3300 LOS ANGELES CA 90071 15532717 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 37 93 0 0 3314027 4652467 3143064 3494136 2518072 949050 64242 80508 9039405 9176161 155000 0 0 0 5449047 6001549 0 0 574132 2924453 3993023 8528500 9994572 510905 -818411 34353930 35302763 6230026 6147033 28123904 29155730 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 4661790 1023968 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.IN 2025, HELPED SAVE OVER 1,000+ JOBS, PROVIDED DIRECT CONSULTING TO NEARLY 2,000+ SMALL BUSINESS ACROSS LOS ANGELES AND HOSTED OVER 150+ IN-PERSON VIRTUAL BUSINESS EDUCATION EVENTS. 996461 266102 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 16 CLIENTS. 490034 360387 ECONOMIC FOCUSED EVENTSTHE LAEDC HOSTED THE EDDY AWARDS, LAEDC'S SIGNATURE STRATEGIC ENGAGEMENT EVENT AND ONLY ANNUAL FUNDRAISER. 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 2025, THE LAEDC HOSTED THE FOLLOWING MAJOR EVENT: EDDY AWARDS (NOVEMBER 2024). 2728957 1843679 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 25,000+ LOS ANGELES COUNTY STUDENTS AND JOB SEEKERS. COLLABORATED TO ALIGN TRAINING WITH INDUSTRY DEMAND WITH 250+ EMPLOYER AND COLLEGES.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 RE-ENTER 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.IN 2025, CALIFORNIA JOBS FIRST PROJECT SECURED $2 MILLION IN STATE FUNDING TO SUPPORT WILDFIRE RECOVERY AND RESILIENCE EFFORTS.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. 2728957 1843679 8877242 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 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 1 14 0 1 37 1 0 0 0 0 0 1 1 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 ADAM BURKE DIRECTOR 1.00 0.00 X 0 0 0 ANGELA YIM-SULLIVAN 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 SARKOSAS 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 DANIEL TIMMONS DIRECTOR 1.00 0.00 X 0 0 0 DAVID ABEL 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 DIANA BOYADJIAN DIRECTOR 1.00 0.00 X 0 0 0 DR NARINEH MAKIJIAN 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 CO-CHAIR 1.00 0.00 X X 0 0 0 ERIC BULLARD DIRECTOR 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 HALE DIRECTOR 1.00 0.00 X 0 0 0 GERARD OROZCO DIRECTOR 1.00 0.00 X 0 0 0 HALE BEHZADI DIRECTOR 1.00 0.00 X 0 0 0 JANE CONOLEY DIRECTOR 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 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 KATHLEEN RAWSON DIRECTOR 1.00 0.00 X 0 0 0 KELLY LOBIANCO DIRECTOR 1.00 0.00 X 0 0 0 LAURIE SEWELL CO-CHAIR 1.00 0.00 X X 0 0 0 LES MCCABE DIRECTOR 1.00 0.00 X 0 0 0 LILLY ROCHA 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 MINAL MONDKAR DIRECTOR 1.00 0.00 X 0 0 0 MONICA BANKEN 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 RON FRIERSON CHAIRPERSON 1.00 3.00 X 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 STEVEN NISSEN DIRECTOR 1.00 0.00 X 0 0 0 THOMAS PARHAM 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 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 JANE NAVARRIA DIRECTOR 1.00 0.00 X 0 0 0 HANS GETTY DIRECTOR 1.00 0.00 X 0 0 0 ADAM LANE DIRECTOR 1.00 0.00 X 0 0 0 DR PETER SLAVIN DIRECTOR 1.00 0.00 X 0 0 0 GREG SKALASKI DIRECTOR 1.00 0.00 X 0 0 0 STEVE HENNESSEY DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER POULAKIDAS DIRECTOR 1.00 0.00 X 0 0 0 JAMES LIMBAUGH DIRECTOR 1.00 0.00 X 0 0 0 DENNIS HUANG DIRECTOR 1.00 0.00 X 0 0 0 ANDY PEREZ DIRECTOR 1.00 0.00 X 0 0 0 JOSE GARDEA DIRECTOR 1.00 0.00 X 0 0 0 ERIC ROWEN DIRECTOR 1.00 0.00 X 0 0 0 SARAH HARRIS DIRECTOR 1.00 0.00 X 0 0 0 BRANDY HAN DIRECTOR 1.00 0.00 X 0 0 0 YESENIA MONSOUR DIRECTOR 1.00 0.00 X 0 0 0 DR KEITH CURRY DIRECTOR 1.00 0.00 X 0 0 0 CONRADO AYALA DIRECTOR 1.00 0.00 X 0 0 0 KASH HUSSAIN DIRECTOR 1.00 0.00 X 0 0 0 JESSICA GODINEZ DIRECTOR 1.00 0.00 X 0 0 0 KELLIE TODD GRIFFIN DIRECTOR 1.00 0.00 X 0 0 0 JARED YOSHIKI DIRECTOR 1.00 0.00 X 0 0 0 JACQUES NACK DIRECTOR 1.00 0.00 X 0 0 0 JILL KURTH DIRECTOR 1.00 0.00 X 0 0 0 DAVID HILLS DIRECTOR 1.00 0.00 X 0 0 0 DEB VRANA DIRECTOR 1.00 0.00 X 0 0 0 KYLE BROWN DIRECTOR 1.00 0.00 X 0 0 0 LILIT ZIBARI DIRECTOR 1.00 0.00 X 0 0 0 KAREN SESSIONS DIRECTOR UNTIL 07/2025 1.00 0.00 X 0 0 0 ELLIE CASSON DIRECTOR UNTIL 06/2025 1.00 0.00 X 0 0 0 GENE BLOCK DIRECTOR 1.00 0.00 X 0 0 0 GOETZ WOLFF DIRECTOR 1.00 0.00 X 0 0 0 JAYME S WILSON DIRECTOR 1.00 0.00 X 0 0 0 JOSEPH VILLELA DIRECTOR UNTIL 06/2025 1.00 0.00 X 0 0 0 ROSE NORDBROCK DIRECTOR UNTIL 05/2025 1.00 0.00 X 0 0 0 ARTHUR BILGER DIRECTOR 1.00 0.00 X 0 0 0 CATHERINE REHEIS-BOYD DIRECTOR UNTIL 06/2026 1.00 0.00 X 0 0 0 DAVID FLEMING DIRECTOR 1.00 0.00 X 0 0 0 SPENCER SMITH DIRECTOR UNTIL 12/2024 1.00 0.00 X 0 0 0 THOMAS WINGARD DIRECTOR 1.00 0.00 X 0 0 0 DANIEL LEDGER DIRECTOR 1.00 0.00 X 0 0 0 STEPHEN CHEUNG PRESIDENT AND CEO 40.00 23.00 X 401374 0 24780 KENDAL R TURNER EXECUTIVE VICE PRES./CFO 40.00 23.00 X 256969 0 20919 JERMAINE HAMPTON VP WORKFORCE DEV'T & SPECIAL PROJECTS 50.00 0.00 X 211685 0 10167 SHANNON SEDGWICK SR. DIR. FOR INSTITUTE OF APPLIED ECONOMICS 50.00 0.00 X 173281 0 11043 ALISON CLARK VP BUS. ASSISTANCE & INT'L TRADE 30.00 20.00 X 182812 0 5891 LINDEN JOHNSON SR. DIR. BUS. ASSIST. PROGRAM 40.00 0.00 X 144177 0 6675 WILLIAM POWLES SR. DIR. INTERNATIONAL TRADE 0.00 40.00 X 149284 0 7288 SONIA ESTRADA SR. DIR. ACCOUNTING & ADMINISTRATION 40.00 0.00 X 138422 0 13517 BARBARA LEVIN SR. DIR. OF STRATEGIC PARTNERSHIP 40.00 0.00 X 132810 0 9995 CHARLES JOHNSON DIR. INDUSTRY CLUSTER DEVELOPMENT 40.00 0.00 X 138544 0 9030 1929358 0 119305 10 0 1 0 3158 STRATEGIES INC DBA SOUTHERN CALIF 201 N HARBOR BLVD STE 205 FULLERTON CA 92832 CONSULTING SCLC/COED 264675 MICHAEL ROOS DBA MIKE ROOS COMPANY 76065 VIA SOVANA INDIAN WELLS CA 92210 CONSULTING SCLC/COED 201895 LEGENDS SPORTS LLC 61 BROADWAY SUITE 2400 NEW YORK NY 10006 VENUE/EVENTS 158643 3 1892500 2319981 439986 4652467 CONSULTING & SERVICE CONTRACTS 541720 2766618 2766618 SPONSORED EVENT PROGRAMS 541720 727518 727518 3494136 640606 640606 77008 0 77008 77008 77008 6665000 6356556 308444 308444 308444 OTHER INCOME 541900 3500 3500 3500 9176161 3494136 0 1029558 X 1408671 1354462 34128 20081 3372535 3242751 81707 48077 146888 141235 3559 2094 712885 685453 17270 10162 360570 346694 8736 5140 354 350 4 72999 72068 919 12 148721 148721 1570718 1555649 14872 197 16783 16464 319 63383 49106 13830 447 242199 190811 49784 1604 499571 412523 85755 1293 117192 84156 32719 317 999678 507223 10272 482183 109097 90860 18237 45036 37750 7286 DUES AND SUBSCRIPTIONS 75792 58187 15399 2206 UNCOLLECTIBLE ACCOUNTS 31500 31500 9994572 8877242 543198 574132 1326102 1446248 1746089 1718280 1880021 1614749 303070 304555 861804 476048 488356 385756 18038428 20291390 6165000 4855105 4406864 4686680 34353930 35302763 1449241 1274189 300745 483135 4480040 4389709 6230026 6147033 X 28123904 28655730 500000 28123904 29155730 34353930 35302763 -818411 1850237 0 X 0 1 X 1 1 1 X 2400500 2203402 3079228 3314027 4652467 15649624 2400500 2203402 3079228 3314027 4652467 15649624 119160 15530464 369652 1028327 547113 711759 717614 3374465 13990 415 14 3500 17919 19042008 18980762 0.81560 0.83160 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 13,990. 2022 AMOUNT: $ 415. 2023 AMOUNT: $ 14. 2024 AMOUNT: $ 3,500. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 110960 17197 93763 750844 458851 291993 385756 NON PUBLICLY TRADED INVESTMENTS 4855105 F 4855105 INTERCOMPANY RECEIVABLE 726897 OPERATING RIGHT-OF-USE ASSET 3959783 4686680 OPERATING LEASE LIABILITY 4389709 4389709 X 11041732 1850238 164054 2014292 9027440 148721 148721 9176161 10504837 658986 658986 9845851 148721 148721 9994572 PART X, LINE 2: LAEDC AND ITS AFFILIATED ENTITIES WTCLA, ALAI, AND CIEI ARE EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO FEDERAL OR STATE INCOME TAX PROVISION HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THESE ENTITIES ARE FURTHER CLASSIFIED AS PUBLIC CHARITIES UNDER IRC SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI). ALTHOUGH TAX-EXEMPT, LAEDC AND ITS RELATED ENTITIES ARE SUBJECT TO INCOME TAX ON NET INCOME GENERATED FROM UNRELATED BUSINESS ACTIVITIES THAT ARE REGULARLY CARRIED ON AND NOT SUBSTANTIALLY RELATED TO THEIR EXEMPT PURPOSES. MANAGEMENT HAS EVALUATED ALL SOURCES OF REVENUE AND DETERMINED THAT ANY UNRELATED BUSINESS INCOME, IF PRESENT, IS NOT MATERIAL TO THE FINANCIAL STATEMENTS. AS A RESULT, NO PROVISION FOR UNRELATED BUSINESS INCOME TAX HAS BEEN RECORDED. IN ACCORDANCE WITH FASB ASC TOPIC 740, INCOME TAXES, AND RELATED GUIDANCE ON UNCERTAIN TAX POSITIONS, THE ENTITIES RECOGNIZE THE FINANCIAL STATEMENT EFFECTS OF TAX POSITIONS ONLY WHEN IT IS MORE LIKELY THAN NOT THAT SUCH POSITIONS WILL BE SUSTAINED UPON EXAMINATION, BASED ON THEIR TECHNICAL MERITS. MANAGEMENT HAS REVIEWED THE ORGANIZATION'S TAX POSITIONS, INCLUDING ITS ONGOING QUALIFICATION FOR TAX-EXEMPT STATUS AND ANY POTENTIAL EXPOSURE TO UNRELATED BUSINESS INCOME TAX. BASED ON THIS EVALUATION, MANAGEMENT HAS CONCLUDED THAT IT IS MORE LIKELY THAN NOT THAT ALL MATERIAL TAX POSITIONS WOULD BE UPHELD UPON EXAMINATION. THEREFORE, NO RESERVES FOR UNCERTAIN TAX POSITIONS HAVE BEEN RECORDED, AND NO RELATED DISCLOSURES ARE REQUIRED. THE FEDERAL INFORMATION RETURNS (FORM 990) OF LAEDC AND ITS RELATED ENTITIES REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS FROM THE DATE OF FILING. CALIFORNIA INFORMATION RETURNS (FORM 199) REMAIN SUBJECT TO EXAMINATION BY THE FRANCHISE TAX BOARD FOR FOUR YEARS FROM THE DATE OF FILING. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE REVENUE FOR AFFILIATES 164,054. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE EXPENSES FOR AFFILIATES 658,986. X X X 1 0 0 0 0 0 0 0 0 STEPHEN CHEUNG PRESIDENT AND CEO 351374 0 50000 0 0 0 20700 0 4080 0 426154 0 0 0 KENDAL R TURNER EXECUTIVE VICE PRES./CFO 236969 0 20000 0 0 0 16839 0 4080 0 277888 0 0 0 JERMAINE HAMPTON VP WORKFORCE DEV'T & SPECIAL PROJECT 201685 0 10000 0 0 0 6087 0 4080 0 221852 0 0 0 ALISON CLARK VP BUS. ASSISTANCE & INT'L TRADE 177812 0 5000 0 0 0 5891 0 0 0 188703 0 0 0 SHANNON SEDGWICK SR. DIR. FOR INSTITUTE OF APPLIED EC 162881 0 10000 0 400 0 11043 0 0 0 184324 0 0 0 WILLIAM POWLES SR. DIR. INTERNATIONAL TRADE 141784 0 7500 0 0 0 7288 0 0 0 156572 0 0 0 SONIA ESTRADA SR. DIR. ACCOUNTING & ADMINISTRATION 132422 0 6000 0 0 0 9437 0 4080 0 151939 0 0 0 LINDEN JOHNSON SR. DIR. BUS. ASSIST. PROGRAM 139177 0 5000 0 0 0 6675 0 0 0 150852 0 0 0 PART I, LINE 4A IN 2024, ALISON CLARK, WHO SERVED AS VICE PRESIDENT BUSINESS ASSISTANCE AND INTERNATIONAL TRADE, RECEIVED SEVERANCE COMPENSATION TOTALING $21,590. CHARLES JOHNSON, WHO SERVED AS DIRECTOR OF INDUSTRY CLUSTER DEVELOPMENT, RECEIVED SEVERANCE COMPENSATION TOTALING $11,655. LINDEN JOHNSON, WHO SERVED AS SENIOR DIRECTOR OF BUSINESS ASSISTANCE PROGRAM, RECEIVED SEVERANCE COMPENSATION TOTALING $44,423. ACT-1 >35% OWNED BY DIRECTOR 661611 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 55427 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 82452 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 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 506,093. MANAGEMENT AND GENERAL EXPENSES 6,452. FUNDRAISING EXPENSES 85. TOTAL EXPENSES 512,630. TEMPORARY EMPLOYMENT SERVICES: PROGRAM SERVICE EXPENSES 660,421. MANAGEMENT AND GENERAL EXPENSES 8,420. FUNDRAISING EXPENSES 112. TOTAL EXPENSES 668,953. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 389,135. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 389,135. 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 0 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 Q 404327 FINANCIAL ACCOUNTING RECORDS