EIN 95-2546360

Economic Resources Corporation (ERC)

IRS 501(c) type
501(c)(3)
Num. employees
8
Year formed
1968
Most recent tax filings
2023-06-01
NTEE code, primary
Description
ERC promotes economic growth and increases job opportunities in underserved communities by supporting business development, investing in commercial and industrial real estate and stimulating the revitalization of economically disadvantaged communities.
Total revenues
$4,551,713
2023
Total expenses
$2,715,672
2023
Total assets
$24,184,491
2023
Num. employees
8
2023

Program areas at ERC

See schedule oerc has dedicated itself to providing local small businesses with professional technical assistance in order to enhance opportunities for growth and success. Erc works to accomplish this goal by helping small companies, many of them tenants in the complex, improve their operations either directly or through referrals in the areas of business strategy, financial management and operational management. In addition to assisting tenants of the complex, as well as others, erc helps communities devise strategies to remove blight, increase job opportunities and improve the local infrastructure. Erc does this by working with community groups and concerned individuals to help them build capacity to positively affect their local neighborhoods and improve the quality of life, with a focus on Economic opportunity. Erc also works with local municipalities and non-profits to assist them in carrying out their individual Economic development initiatives. Erc assists these efforts through planning studies, focus groups, land use studies and consulting. In order to make lasting change to distressed communities, as well as the area surrounding the complex, the economy must be strengthened. To do this, erc is actively involved in the recruitment and retention of businesses to underserved communities by initiatives in real estate development, assisting in the identification and retrofitting of facilities for new and growing companies and introducing local employers to the Economic incentive programs that are available to them.

Who funds Economic Resources Corporation (ERC)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
MUFG Union Bank FoundationGeneral Operating$10,000

Personnel at ERC

NameTitleCompensation
Samuel HughesPresident and Chief Executive Officer$247,195
Nancy H. IkegamiVice President Finance and Administration$184,574
Albert CarrollVice President of Real Estate$187,358
Marie McNishProperty Manager
Dutch C RossPast President and Chief Executive Officer$245,120
...and 3 more key personnel

Financials for ERC

RevenuesFYE 06/2023
Total grants, contributions, etc.$41,977
Program services$4,258,242
Investment income and dividends$230,774
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$16,745
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$3,975
Total revenues$4,551,713

Form 990s for ERC

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-14990View PDF
2022-062023-05-15990View PDF
2021-062022-04-27990View PDF
2020-062021-04-13990View PDF
2019-062020-08-19990View PDF
...and 10 more Form 990s
Data update history
July 19, 2024
Posted financials
Added Form 990 for fiscal year 2023
July 10, 2024
Used new vendors
Identified 3 new vendors, including , , and
January 29, 2024
Updated personnel
Identified 2 new personnel
January 1, 2024
Received grants
Identified 1 new grant, including a grant for $10,000 from MUFG Union Bank Foundation
July 11, 2023
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizationsCharities
Issues
Community improvementEconomic development
Characteristics
Receives government fundingTax deductible donationsAccepts online donations
General information
Address
2600 Industry Way
Lynwood, CA 90262
Metro area
Los Angeles-Long Beach-Anaheim, CA
County
Los Angeles County, CA
Website URL
economicresources.org/ 
Phone
(310) 537-4610
Facebook page
Economic-Resources-Corporation 
Twitter profile
@economicresourc 
IRS details
EIN
95-2546360
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1968
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
California AB-488 details
AB 488 status
May Operate or Solicit for Charitable Purposes
Charity Registration status
Current - In Process
FTB status revoked
Not revoked
AG Registration Number
010676
FTB Entity ID
0547548
AB 488 data last updated ("as-of") date
2024-10-16
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