Economic Development Corporation Of Los Angeles County

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 953643339 ✦ Los angeles, CA ✦ Designated as a 501(c)(3)

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Overview

What is Economic Development Corporation Of Los Angeles County?

The Economic Development Corporation of Los Angeles County (LAEDC) is a nonprofit organization situated in the heart of Los Angeles, California. Their primary mission is to improve economic conditions and foster business growth throughout the county, particularly focusing on economically distressed areas. They achieve this by facilitating cooperation between public and private sectors, increasing private investment, and offering objective economic research and analysis. During the current fiscal year, LAEDC has reached numerous small businesses and micro-enterprises through multi-channel informational outreach and provided one-on-one technical assistance to help them survive the COVID-19 pandemic. Their specific focus is on supporting women and minority-owned businesses with the aim of attracting, retaining, and growing jobs for Los Angeles County residents. As the only countywide economic development organization, they provide collaborative, innovative, and strategic economic development leadership to create a more robust, equitable, sustainable, and resilient Los Angeles County economy. The LAEDC's team of 35 dedicated professionals is committed to improving the health and wellbeing of the region's residents and communities by promoting job opportunities and enabling individuals to meet their basic human need for employment.


Official website here: www.laedc.org

Is Economic Development Corporation Of Los Angeles County legitimate?

Economic Development Corporation Of Los Angeles County is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economic Development Corporation Of Los Angeles County 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: $1,387,638
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,904,769

For more financial information, click here


Official website here: www.laedc.org

What is the mission statement of Economic Development Corporation Of Los Angeles County?

The Economic Development Corporation of Los Angeles County's mission is to collectively advance economic opportunities and improve the standards of living for all residents of Los Angeles County. As the county's sole economic development organization, they provide collaborative, innovative, and strategic leadership to promote a more robust, equitable, sustainable, and resilient economy. Their activities include conducting objective economic research and analysis, offering technical and transactional assistance to businesses, government, education, and workforce development systems, and engaging in targeted public policy and issue advocacy. The corporation aims to ease the burdens of government by assisting, implementing, supporting, and contributing to public programs and projects that improve economic conditions, promote business growth, and educate the public through economic research and analysis. By serving as a vehicle to facilitate cooperation between the public and private sectors, the corporation coalesces local, state, and federal resources to increase private investment, particularly in economically distressed areas.


Official website here: www.laedc.org

Who is the CEO of Economic Development Corporation Of Los Angeles County?

Stephen Cheung is the CEO of Economic Development Corporation Of Los Angeles County The CEO's salary of Economic Development Corporation Of Los Angeles County is $395,000 and their total compensation is $435,192.


Official website here: www.laedc.org

What is the revenue of Economic Development Corporation Of Los Angeles County?

Economic Development Corporation Of Los Angeles County's revenue in 2024 was $9,039,405.


Official website here: www.laedc.org

Who are the executives of Economic Development Corporation Of Los Angeles County and what are their salaries?

The average compensation at Economic Development Corporation Of Los Angeles County during 2024 was $122,640. There are 35 employees and 109 volunteers at Economic Development Corporation Of Los Angeles County.

Here are 109 key members and their salaries (Economic Development Corporation Of Los Angeles County's CEO's salary is $395,000 and their total compensation is $435,192):


Aaron Cohen (Director)
  • Compensation: $0
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  • Other: $0
Adam Burke (Director)
  • Compensation: $0
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  • Other: $0
Alejandra Santamaria (Director (Until 2023))
  • Compensation: $0
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  • Other: $0
Amos Himmelstein (Director)
  • Compensation: $0
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  • Other: $0
Angela Yim-Sullivan (Director)
  • Compensation: $0
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  • Other: $0
Arthur Bilger (Director)
  • Compensation: $0
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  • Other: $0
Barbara Jones (Director)
  • Compensation: $0
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  • Other: $0
Bill Dacunto (Director)
  • Compensation: $0
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  • Other: $0
Brennon Crist (Director)
  • Compensation: $0
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  • Other: $0
Brett Howroyd (Director)
  • Compensation: $0
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  • Other: $0
Bryan Leroy (Director)
  • Compensation: $0
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  • Other: $0
Bryan Sastokas (Director)
  • Compensation: $0
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  • Other: $0
Bryan Schweickert (Director)
  • Compensation: $0
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  • Other: $0
Carissa Smith (Director)
  • Compensation: $0
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  • Other: $0
Catherine Reheis-Boyd (Director)
  • Compensation: $0
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  • Other: $0
Cynthia Coulter (Director)
  • Compensation: $0
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  • Other: $0
Daniel Ledger (Director)
  • Compensation: $0
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  • Other: $0
Daniel Timmons (Director)
  • Compensation: $0
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  • Other: $0
David Abel (Director)
  • Compensation: $0
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David Fleming (Director)
  • Compensation: $0
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David Foley (Director)
  • Compensation: $0
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  • Other: $0
David Hill (Director)
  • Compensation: $0
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  • Other: $0
David Tucker (Director)
  • Compensation: $0
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  • Other: $0
Devorah Lieberman (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Diana Boyadjian (Director)
  • Compensation: $0
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  • Other: $0
Dr Noel Hacegaba (Director)
  • Compensation: $0
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  • Other: $0
Effie Turnbull Sanders (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Efrain Escobedo (Director)
  • Compensation: $0
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  • Other: $0
Ellie Casson (Director)
  • Compensation: $0
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  • Other: $0
Eric Bullard (Director)
  • Compensation: $0
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  • Other: $0
Eric Rowen (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Erika Beck (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fesia Davenport (Director)
  • Compensation: $0
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  • Other: $0
Frances Teves (Director)
  • Compensation: $0
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  • Other: $0
Gene Block (Director)
  • Compensation: $0
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  • Other: $0
Gene Hale (Director)
  • Compensation: $0
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Gene Seroka (Director)
  • Compensation: $0
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  • Other: $0
Gerard Orozco (Director)
  • Compensation: $0
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  • Other: $0
Goetz Wolff (Director)
  • Compensation: $0
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  • Other: $0
Hale Behzadi (Director)
  • Compensation: $0
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  • Other: $0
Harry Elam (Director)
  • Compensation: $0
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  • Other: $0
Jane Conoley (Director)
  • Compensation: $0
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  • Other: $0
Jarret Barrios (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jayme S Wilson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeff Assaf (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeff Wilson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeffrey R Jennison (Director)
  • Compensation: $0
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  • Other: $0
Jim Coronado (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jodie Lesh (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Ackerman (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Loftus (Director)
  • Compensation: $0
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  • Other: $0
Jose Gomez (Director)
  • Compensation: $0
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  • Other: $0
Joseph Villela (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Juan Salazar (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Justin Erbacci (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Justin Thompson (Director)
  • Compensation: $0
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  • Other: $0
Karen Sessions (Director)
  • Compensation: $0
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  • Other: $0
Kathleen Rawson (Director)
  • Compensation: $0
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  • Other: $0
Kelly Lobianco (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Laurie Sewell (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Les Mccabe (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Lewis C Horne (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Lilit Zibari (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Lilly Rocha (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Linda Oubre (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Luci Ibarra (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Maria Camacho (Director)
  • Compensation: $0
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  • Other: $0
Maria Garcia (Director)
  • Compensation: $0
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  • Other: $0
Mariana Holliday (Director)
  • Compensation: $0
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  • Other: $0
Mark Pestrella (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mark Sogomian (Director)
  • Compensation: $0
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  • Other: $0
Maura O'Connor (Director)
  • Compensation: $0
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  • Other: $0
Michael Weintraub (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Minal Mondkar (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Monica Banken (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Narineh Makijian (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Nataline Lomedico (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Patrick Mcclenahan (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Porsha Cropper (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Praful Kulkarni (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ron Frierson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rose Nordbrock (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Santiago Munoz (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Schenae Rourk (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Shannon Sullivan (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Spencer Smith (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Steven Nissen (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Steven Olson (Director)
  • Compensation: $0
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  • Other: $0
Thomas M Priselac (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Thomas Parham (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Thomas Wingard (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Timothy Anderson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tom Vandiver (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Travis Kiyota (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Winston Damarillo (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Yvette Estrada (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Zack Sokoloff (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Zanku Amernian (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Andy Steinhauser (Director (Until 2023))
  • Compensation: $0
  • Related: $0
  • Other: $0
Kendal R Turner (Executive Vice Pres./Cfo)
  • Compensation: $264,710
  • Related: $0
  • Other: $34,167
Stephen Cheung (President And Ceo)
  • Compensation: $395,000
  • Related: $0
  • Other: $40,192
Jermaine Hampton (Vice President Workforce Development & Special Pr)
  • Compensation: $167,125
  • Related: $0
  • Other: $25,695
Melissa Khamvongsa (Vice President Strategic Relations)
  • Compensation: $227,791
  • Related: $0
  • Other: $36,982
Shannon Sedgwick (Dir. Institute Of Applied Economics)
  • Compensation: $174,382
  • Related: $0
  • Other: $21,595
Barbara Levine (Director Of Business Assistance Program)
  • Compensation: $153,079
  • Related: $0
  • Other: $21,476
Justin Adams (Senior Economist)
  • Compensation: $137,353
  • Related: $0
  • Other: $17,621
Larry Holt (Vp Business Assistance And International Trade)
  • Compensation: $137,687
  • Related: $0
  • Other: $6,200
Rick Davila (Director Of It And Facilities)
  • Compensation: $132,675
  • Related: $0
  • Other: $4,658
Sonia Estrada (Senior Director Accounting & Administration)
  • Compensation: $138,258
  • Related: $0
  • Other: $19,278


Official website here: www.laedc.org

Where can I find the form 990 for Economic Development Corporation Of Los Angeles County?

Economic Development Corporation Of Los Angeles County's most recent form 990 was submitted in 2024 and can be accessed here.


Official website here: www.laedc.org

Learn more at the official website: www.laedc.org

Mission Statement of Economic Development Corporation Of Los Angeles County

The Economic Development Corporation of Los Angeles County, abbreviated as LAEDC, is dedicated to enhancing economic opportunity and prosperity for all Los Angeles County residents. It achieves this objective through various programs, projects, and activities of a public nature. The corporation serves as a collaborative, innovative, and strategic economic development leader, working towards a more robust, equitable, sustainable, and resilient Los Angeles County economy. This, in turn, aims to improve the health and wellbeing of the region's residents and communities.

The Economic Development Corporation of Los Angeles County provides objective economic research and analysis to gain a comprehensive understanding of the local economy. It also offers technical and transactional assistance to businesses, government, education, and workforce development systems. This assistance is designed to promote growth and development in Los Angeles County, thereby creating more job opportunities. Furthermore, the corporation engages in targeted public policy and issue advocacy, aiming to facilitate cooperation between the public and private sectors and coalesce local, state, and federal resources to increase private investment, particularly in economically distressed areas.

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Impact



October, 2024

The Economic Development Corporation of Los Angeles County (LAEDC) plays a crucial role in enhancing economic opportunities and improving living standards for all residents in Los Angeles County. As the county's only comprehensive economic development organization, LAEDC focuses on fostering a robust, equitable, and sustainable economy by providing innovative leadership and strategic initiatives.

Through objective economic research and analysis, LAEDC identifies and addresses the needs of businesses, government, education, and workforce development systems. Its programs and activities are particularly impactful for small and micro-enterprises, with a strong emphasis on supporting women and minority-owned businesses. By offering free technical assistance, LAEDC has helped numerous businesses navigate challenges, particularly during the COVID-19 pandemic, ensuring their survival and growth.

Additionally, LAEDC facilitates collaboration between public and private sectors, leveraging resources to attract and retain jobs in the county. Its advocacy for targeted public policies enhances the region's economic landscape, ultimately contributing to the health and well-being of Los Angeles County’s communities. By actively engaging in community improvement initiatives, the LAEDC significantly advances the mission of fostering economic prosperity and improving quality of life for all residents.



This information is meant to be a general summary of Economic Development Corporation Of Los Angeles County. 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.

Revenue
$9,039,405 (2024)
Expenses
$8,528,500 (2024)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2024.

  • Investment Income: $647,531
  • Program Service Revenue: $3,143,064
  • Gross Receipts: $10,662,864

Assets and Liabilities:

  • Total Assets: $29,436,314
  • Total Liabilities: $2,143,605
  • Net Assets: $27,292,709

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

CONSULTING & SERVICE CONTRACTS

Revenue

$2,387,249

SPONSORED EVENT PROGRAMS

Revenue

$755,815

Organization Details

Founding Year

1981

Principal Officer

Kendal Turner

Website

www.laedc.org

NTEE Category

Code: S30 - Community improvement

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