Overview
What is Los Angeles Cleantech Incubator?
The Los Angeles Cleantech Incubator, based in Los Angeles, California, is a nonprofit organization dedicated to accelerating the commercialization of clean technologies by supporting, educating, and providing workforce training, mentorship, and networking opportunities for start-up clean technology companies in the region. The organization's mission extends beyond just the private sector, as it also aims to conserve the natural environment and promote the sustainably use of resources and lessen government burdens through economic opportunities in clean technology. Over the past five years, LACI has formed key partnerships and collaborations, including the Transportation Electrification Partnership, to identify and drive the commercialization of clean and sustainable solutions, reduce adoption hurdles, and support the transition towards transportation electrification and zero emissions goods movement in the Greater LA region, in preparation for the 2028 Olympic and Paralympic Games. The organization has a team of 72 employees.
Official website here: www.laincubator.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%
The Los Angeles Cleantech Incubator has achieved a remarkable Four-Star out of Four Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a score of 96%, the organization demonstrates a high level of transparency and effective governance, as evidenced by its fully independent board and comprehensive financial oversight mechanisms.
Strengths of the organization include a solid program expense ratio of 84.64%, indicating that a significant portion of its resources is directed toward its mission-driven activities. The leadership team has also been recognized for their adaptability and strategic vision, scoring a perfect 100% in Leadership & Adaptability, which suggests a forward-thinking approach in addressing cleantech challenges in Los Angeles.
While the data indicates robust financial health and operational integrity, the review does not highlight any specific limitations or areas for improvement. Overall, the Los Angeles Cleantech Incubator appears to be a well-managed nonprofit making meaningful contributions to cleantech innovation.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Los Angeles Cleantech Incubator?
98% of 16 reviewers on Facebook recommend the Los Angeles Cleantech Incubator. Here is a summary of their reviews:
The general sentiment towards the organization is overwhelmingly positive. Reviewers highlight the quality of the facilities, particularly noting the cleanliness and the availability of prototyping resources. This suggests that the nonprofit provides a supportive and well-maintained environment for those engaged in cleantech innovation.
Overall, the Los Angeles Cleantech Incubator appears to effectively meet the needs of its users, who appreciate the valuable resources and space available for prototyping and development. The strong recommendation rate underscores the satisfaction of those who have utilized its services.
This AI summary has been generated from reviews found on Facebook.
Is Los Angeles Cleantech Incubator legitimate?
Los Angeles Cleantech Incubator is a legitimate nonprofit organization registered as a 501(c)(3) entity. Los Angeles Cleantech Incubator submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $869,910
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,398,386
For more financial information, click here
Official website here: www.laincubator.org
What is the mission statement of Los Angeles Cleantech Incubator?
The Los Angeles Cleantech Incubator is a charitable organization with a mission to drive the adoption of sustainable technologies and consumption of natural resources. It was established to carry out expressly charitable functions and serves as a hub for supporting and accelerating the commercialization of clean technologies. The organization provides resources, education, workforce training, mentorship, and networking opportunities for both non-profit and for-profit clean technology start-ups. Additionally, it strives to conserve the natural environment and promote the use of environmentally sound resources. The Incubator also contributes to economic growth by lessening government burdens through the advancement of opportunities in the clean technology sector. It engages in a variety of charitable, educational, and eleemosynary activities as permitted by the Internal Revenue Code of 1986, section 501(c)(3).
Official website here: www.laincubator.org
Who is the CEO of Los Angeles Cleantech Incubator?
Mathew Petersen is the President And Ceo of Los Angeles Cleantech Incubator. The CEO's salary of Los Angeles Cleantech Incubator is $364,692 and their total compensation is $398,933.
Official website here: www.laincubator.org
What is the revenue of Los Angeles Cleantech Incubator?
Los Angeles Cleantech Incubator's revenue in 2022 was $21,575,491.
Official website here: www.laincubator.org
Who are the executives of Los Angeles Cleantech Incubator and what are their salaries?
The average compensation at Los Angeles Cleantech Incubator during 2022 was $87,060. There are 72 employees and 30 volunteers at Los Angeles Cleantech Incubator.
Here are 18 key members and their salaries (Los Angeles Cleantech Incubator's CEO's salary is $364,692 and their total compensation is $398,933):
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- Compensation: $364,692
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- Other: $34,241
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- Compensation: $230,854
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- Other: $21,401
- Compensation: $199,785
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- Other: $18,936
- Compensation: $147,048
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- Other: $67
- Compensation: $149,591
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- Compensation: $129,129
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- Other: $28,502
- Compensation: $132,438
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- Other: $10,562
- Compensation: $129,062
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- Other: $32,307
Official website here: www.laincubator.org
Where can I find the form 990 for Los Angeles Cleantech Incubator?
Los Angeles Cleantech Incubator's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.laincubator.org
Learn more at the official website: www.laincubator.org
Mission Statement of Los Angeles Cleantech Incubator
Los Angeles Cleantech Incubator, a charitable organization, is dedicated to bringing together the private and public sectors to advance the adoption of sustainable practices and technologies for the consumption of natural resources. The organization's primary goal is to support the commercialization of clean technologies by offering resources, education, workforce training, mentorship, and networking opportunities to both non-profit and for-profit start-ups in the field of clean technology based in Los Angeles, California.
By focusing on clean technology, the Los Angeles Cleantech Incubator aims to conserve the natural environment and promote the use of ecologically sound and sustainable methods in the utilization of environmental resources. In addition, the organization strives to reduce the burden on government by fostering economic opportunities in the clean technology sector. The Los Angeles Cleantech Incubator also engages in various charitable, eleemosynary, and educational activities as permitted to organizations exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
The organization's mission is to serve as a catalyst for the growth and development of clean technology companies, enabling them to bring innovative solutions to market and make a positive impact on the environment and the community. Through its comprehensive support services, the Los Angeles Cleantech Incubator empowers these companies to overcome challenges, build partnerships, and ultimately succeed in their mission to create a more sustainable future.
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Impact
October, 2024
The Los Angeles Cleantech Incubator (LACI) significantly impacts sustainable innovation and environmental stewardship in the Greater Los Angeles region. By fostering partnerships among public sector entities, industry leaders, and corporate stakeholders, LACI drives the commercialization of cleantech solutions while addressing key barriers to adoption.
One of LACI's pivotal initiatives is the Transportation Electrification Partnership (TEP), which has been instrumental in advancing transportation electrification and promoting zero-emissions goods movement. This multi-year partnership aims to enhance the region's readiness for ecological challenges, particularly ahead of the 2028 Olympic and Paralympic Games, underscoring LACI's commitment to impactful change.
Additionally, LACI enhances the local economy by providing resources such as support, educational programs, workforce training, mentorship, and networking for both nonprofit and for-profit cleantech startups. This comprehensive approach not only accelerates the development of clean technologies but also conserves the natural environment and promotes sustainable resource usage.
Through its initiatives, LACI plays a vital role in transforming the market environment for clean technology, promoting ecological sustainability, and creating economic opportunities while engaging the community in meaningful ways.
This information is meant to be a general summary of Los Angeles Cleantech Incubator. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $37,010
- Program Service Revenue: $1,621,793
- Gross Receipts: $21,654,840
Assets and Liabilities:
- Total Assets: $14,047,232
- Total Liabilities: $2,746,992
- Net Assets: $11,300,240
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LA KRETZ INNOVATION CAMPUS
Revenue
$1,610,061
PROGRAM FEES
Revenue
$11,732
Organization Details
Founding Year
2012
Phone
(213) 358-6500Principal Officer
Mathew Petersen
Main Address
525 S HEWITT STREET, LOS ANGELES, CA, 90013
Website
www.laincubator.orgNTEE Category
Code: S43 - Community improvement
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