Overview
What is Los Angeles Development Fund?
The Los Angeles Development Fund is a nonprofit organization situated in Los Angeles, California. Its primary objective is to contribute to the City of Los Angeles's economic development program and goals. By offering loans, investment capital, and technical assistance, it aims to foster the growth, establishment, or expansion of businesses in underprivileged areas. The LADF operates with a mission to stimulate industrial and commercial development, thereby contributing to the overall improvement of these low-income communities.
Official website here: www.ladfnewmarkets.org
Is Los Angeles Development Fund legitimate?
Los Angeles Development Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Los Angeles Development Fund 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: $314,927
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Official website here: www.ladfnewmarkets.org
What is the mission statement of Los Angeles Development Fund?
The Los Angeles Development Fund serves as a non-profit organization, dedicated to aiding in the economic development initiatives of the City of Los Angeles. Its mission is to stimulate the growth, establishment, or expansion of industries and commerce in economically disadvantaged areas. To accomplish this, the fund provides financial assistance through loans, investment capital, and technical guidance. The primary goal is to promote development in low-income sectors, thereby contributing to the overall economic progress of the city.
Official website here: www.ladfnewmarkets.org
Who is the CEO of Los Angeles Development Fund?
Carolyn Hull is the President/Governing Board of Los Angeles Development Fund.
Official website here: www.ladfnewmarkets.org
What is the revenue of Los Angeles Development Fund?
Los Angeles Development Fund's revenue in 2022 was $1,538,531.
Official website here: www.ladfnewmarkets.org
Who are the executives of Los Angeles Development Fund and what are their salaries?
The average compensation at Los Angeles Development Fund during 2022 was $157,464. There are 2 employees at Los Angeles Development Fund.
Here are 15 key members and their salaries:
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- Compensation: $275,151
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- Other: $39,776
Official website here: www.ladfnewmarkets.org
Where can I find the form 990 for Los Angeles Development Fund?
Los Angeles Development Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ladfnewmarkets.org
Learn more at the official website: www.ladfnewmarkets.org
Mission Statement of Los Angeles Development Fund
The Los Angeles Development Fund, as a non-profit organization, is dedicated to supporting the economic development initiatives of the City of Los Angeles. Its mission is to facilitate the establishment, expansion, or development of industries and commerce in economically disadvantaged areas. To accomplish this, the organization provides loans, invests capital, and offers technical assistance to eligible entities. By doing so, the Los Angeles Development Fund aims to stimulate economic growth and promote prosperity in underprivileged communities.
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Impact
October, 2024
The Los Angeles Development Fund plays a crucial role in driving economic growth within low-income areas of Los Angeles. By providing loans, investment capital, and technical assistance, it facilitates the development, establishment, and expansion of industries and commerce in regions that often lack the necessary financial resources. This targeted approach not only boosts local economies but also contributes to community improvement by creating jobs and fostering an environment for sustainable growth. As a result, the fund significantly enhances the overall economic landscape, helping to elevate the quality of life for residents in historically underserved neighborhoods.
This information is meant to be a general summary of Los Angeles Development Fund. 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: $12,107
- Program Service Revenue: $1,526,424
- Gross Receipts: $1,538,531
Assets and Liabilities:
- Total Assets: $5,755,682
- Total Liabilities: $389,131
- Net Assets: $5,366,551
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN SERV./COMP. FEE
Revenue
$1,056,424
PLACEMENT FEES
Revenue
$470,000
Organization Details
Founding Year
2006
Phone
(213) 808-8808Principal Officer
Carolyn Hull
Main Address
1200 W 7TH STREET 8TH FLOOR, LOS ANGELES, CA, 90017
Website
www.ladfnewmarkets.orgNTEE Category
Code: S30 - Community improvement
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