EIN 95-3643339

Los Angeles County Economic Development Corporation (LAEDC)

IRS 501(c) type
501(c)(3)
Num. employees
32
Year formed
1981
Most recent tax filings
2023-06-01
NTEE code, primary
Description
The Los Angeles County Economic Development Corporation (LAEDC) provides strategic economic development leadership to promote a globally competitive, prosperous and growing L.A.
Also known as...
Economic Development Corporation of Los Angeles County
Total revenues
$5,828,748
2023
Total expenses
$7,869,790
2023
Total assets
$33,343,547
2023
Num. employees
32
2023

Program areas at LAEDC

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.
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.
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.
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.

Grants made by LAEDC

GranteeGrant descriptionAmount
World Trade Center Association Los Angeles - Long BeachTo Support the Marketing and Promotion Efforts of the Los Angeles County Region.$220,000

Who funds Los Angeles County Economic Development Corporation (LAEDC)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Conrad N. Hilton FoundationTo Support Regional Economic Planning, Including the Development of Industry Cluster Mapping That Defines Career Pathways$100,000
James and Rebecca Morgan Family FoundationGeneral Support$70,000
The Bank of America Charitable FoundationProgram/operating Support$25,000
...and 13 more grants received

Personnel at LAEDC

NameTitleCompensation
Stephen CheungPresident$318,425
Kendal TurnerChief Financial Officer and Executive Vice President$255,467
Jermaine HamptonVice President , Workforce Development and Special Projects
Allison ClarkVice President of Business and International Trade Development
Rick DavilaDirector , Information Systems and Office Administration
...and 18 more key personnel

Financials for LAEDC

RevenuesFYE 06/2023
Total grants, contributions, etc.$3,079,228
Program services$2,850,655
Investment income and dividends$490,424
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$56,689
Net gain from sale of non-inventory assets$-648,663
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$415
Total revenues$5,828,748

Form 990s for LAEDC

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-15990View PDF
2022-062023-03-20990View PDF
2021-062022-05-06990View PDF
2020-062021-02-26990View PDF
2019-062020-01-23990View PDF
...and 10 more Form 990s
Data update history
August 7, 2024
Updated personnel
Identified 2 new personnel
July 15, 2024
Received grants
Identified 6 new grant, including a grant for $25,000 from The Bank of America Charitable Foundation
July 11, 2024
Posted financials
Added Form 990 for fiscal year 2023
July 8, 2024
Used new vendors
Identified 1 new vendor, including
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $15,000 from American Online Giving Foundation
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizationsCharities
Issues
Community improvementEconomic developmentBusiness and industry
Characteristics
Political advocacyState / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
444 S Flower St 37th Floor
Los Angeles, CA 90071
Metro area
Los Angeles-Long Beach-Anaheim, CA
County
Los Angeles County, CA
Website URL
laedc.org/about/team/ 
Phone
(213) 622-4300
Facebook page
LAEDC 
Twitter profile
@laedc 
IRS details
EIN
95-3643339
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1981
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 - Awaiting Reporting
FTB status revoked
Not revoked
AG Registration Number
044185
FTB Entity ID
1018324
AB 488 data last updated ("as-of") date
2024-12-31
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