Civic Intelligence

Valley Economic Development Center Inc

990 • Fiscal year 2018 • EIN 95-3139419

Apr 01, 2017 to Mar 31, 2018 • Filed on Feb 07, 2019

Organization ProfileWWW.VEDC.ORG

View Organization Page

5121 Van Nuys Blvd 3rd FloorVan Nuys, CA 91403

(818) 907-9977

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.75x

Higher debt load relative to assets than 83% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

4.93x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

6th percentile

-33%

Higher net margin than 6% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

23rd percentile

$209,266

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

2nd percentile

-22%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

43rd percentile

2.9%

Faster revenue growth than 43% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$58,174,995

Down $15,934,445 (-22%) from 2017

Net Assets

Down

$14,716,125

Down $3,792,455 (-20%) from 2017

Liabilities

Down

$43,458,870

Down $12,141,990 (-22%) from 2017

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin6th percentile

Revenue

Up

$8,809,589

Up $251,721 (+2.9%) from 2017

Expenses

Down

$11,741,822

Down $3,717,570 (-24%) from 2017

Net Income

Up

-$2,932,233

Up $3,969,291 (+58%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2012: $27,424,285Liabilities 2012: $14,769,442Net Assets 2012: $12,654,8432012Assets 2013: $42,468,407Liabilities 2013: $24,708,343Net Assets 2013: $17,760,0642013Assets 2014: $53,502,022Liabilities 2014: $30,111,047Net Assets 2014: $23,390,9752014Assets 2015: $68,931,410Liabilities 2015: $43,248,292Net Assets 2015: $25,683,1182015Assets 2016: $70,136,982Liabilities 2016: $44,726,873Net Assets 2016: $25,410,1092016Assets 2017: $74,109,440Liabilities 2017: $55,600,860Net Assets 2017: $18,508,5802017Assets 2018: $58,174,995Liabilities 2018: $43,458,870Net Assets 2018: $14,716,1252018Assets 2019: $41,149,591Liabilities 2019: $36,991,904Net Assets 2019: $4,157,6872019Assets 2020: $31,203,996Liabilities 2020: $29,943,597Net Assets 2020: $1,260,3992020

Highlighted filing

2018

Assets$58,174,995
Liabilities$43,458,870
Net Assets$14,716,125
Open 2018 Filing

Operations Trend

Revenue Growth43rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MRevenue 2012: $5,795,960Expenses 2012: $5,553,390Net Income 2012: $242,5702012Expenses 2013: $6,749,2522013Revenue 2014: $13,598,232Expenses 2014: $8,027,321Net Income 2014: $5,570,9112014Revenue 2015: $12,234,832Expenses 2015: $10,007,689Net Income 2015: $2,227,1432015Revenue 2016: $12,860,474Expenses 2016: $12,657,643Net Income 2016: $202,8312016Revenue 2017: $8,557,868Expenses 2017: $15,459,392Net Income 2017: -$6,901,5242017Revenue 2018: $8,809,589Expenses 2018: $11,741,822Net Income 2018: -$2,932,2332018Revenue 2019: $4,595,194Expenses 2019: $13,061,289Net Income 2019: -$8,466,0952019Revenue 2020: $2,413,075Expenses 2020: $5,310,363Net Income 2020: -$2,897,2882020

Highlighted filing

2018

Revenue$8,809,589
Expenses$11,741,822
Net Income-$2,932,233
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2017 to Mar 31, 2018
Signed
Feb 7, 2019
Return Version
2017v2.3
Gross Receipts
$8,809,589
Mission and Program Overview

Mission

To provide financing assistance, management consulting, and training to entrepreneurs and small business owners in and around los angeles county and throughout california. On july 2, 2019 valley economic development center filed for bankruptcy. The filing for bankruptcy impacted all of vedc's programs.

To create and sustain jobs and businesses in our communities by providing high-quality economic development services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$38,561,462$26,359,467▼ $12,201,995
Savings and Temporary Cash Investments$20,058,461$17,943,968▼ $2,114,493
Land, Buildings, and Equipment, Net$9,085,039$8,766,051▼ $318,988
Accounts Receivable$1,459,614$1,393,431▼ $66,183
Cash and Non-Interest-Bearing Accounts$995,841$564,363▼ $431,478
Investments Other Securities$496,272$380,980▼ $115,292
Investments in Publicly Traded Securities$900,102$250,000▼ $650,102
Prepaid Expenses and Deferred Charges$147,649$111,735▼ $35,914
Total Assets$74,109,440$58,174,995▼ $15,934,445
Other Assets Total$2,405,000$2,405,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$54,461,500$42,236,552▼ $12,224,948
Accounts Payable and Accrued Expenses$989,085$1,151,578▲ $162,493
Deferred Revenue$150,275$70,740▼ $79,535
Total Liabilities$55,600,860$43,458,870▼ $12,141,990
Net Assets / Fund Balance
Permanently Rstr Net Assets$13,996,168$13,759,440▼ $236,728
Temporarily Rstr Net Assets$3,921,045$4,702,227▲ $781,182
Unrestricted Net Assets$591,367$-3,745,542▼ $4,336,909
Total Net Assets Fund Balance$18,508,580$14,716,125▼ $3,792,455
Total Liabilities and Net Assets / Fund Balance$74,109,440$58,174,995▼ $15,934,445

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,356,326$902,434$7,258,760
Land$1,884,426-$1,884,426
Other Land Buildings$525,299$478,865$1,004,164
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert J DennenChief Financial OfficerFT$180,335$28,931$209,266
Alex GuerreroChief Development OfficerFT$167,469$29,385$196,854
Robert LopezChief Operating OfficerFT$113,196$55,367$168,563
Monica GuerreroProgram DirectorFT$116,653$16,360$133,013
Elizabeth WongAssit Chief Financial OfficerFT$108,921$12,333$121,254
Ray VadalmaChief Executive OfficerFT$106,310$8,238$114,548

Board Members and Trustees

NameTitle
Scott AneyChairman of the Board
Nishen RadiaImmediate Past Chair
Ariel BerriosVice Chair
Anita WolmanBoard Member
John MarquisBoard Member
Leandro TybergBoard Member
Manuel RosalesBoard Member
Pegi MatsudaBoard Member
Ray VasquezBoard Member
Ron MerazBoard Member
Walt MosherBoard Member
Shala TavakoliSecretary
Byron ReedTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,553,261
Program Service Revenue
$3,526,347
Investment Income
$69,705
Other Revenue
$660,276
All Other Contributions
$2,211,152
Change in Net Assets
$-2,932,233

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,076,507
Revenue Not Reported on Financial Statements
$1,733,082
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$1,733,082
Total Revenue per Audited Statements
$7,076,507
Total Revenue per Form 990
$8,809,589
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,127,948
Salaries, Compensation, and Employee Benefits$4,613,874
Total Fundraising Expense$452,689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,963,167$110,786$240,645$3,314,598
Interest$1,733,082--$1,733,082
Other Employee Benefits$575,271$11,967$47,397$634,635
Occupancy$381,881$78,431$50,534$510,846
All Other Expenses$386,220$101,115$7,790$495,125
Fees for Services Other$374,888$41,716$5,070$421,674
Depreciation Depletion$270,577$107,514$5,897$383,988
Current Officers, Directors, Trustees, and Key Employees$176,967$181,460-$358,427
Payroll Taxes$253,861$30,886$21,467$306,214
Fees for Services Accounting$172,296$116,777-$289,073
Information Technology$154,575$14,198$5,080$173,853
Other Expenses$88,043$25,665$16,157$129,865
Office Expenses$64,115$43,243$3,103$110,461
Insurance$84,717$11,312$5,462$101,491
Advertising$45,357$8,168$38,275$91,800
Travel$44,935$38,369$1,212$84,516
Conferences and Meetings$10,812$32,147$4,600$47,559
Total Functional Expenses$9,994,455$1,294,678$452,689$11,741,822

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$11,741,822
Total Expenses per Audited Statements$10,868,962
Expenses per Audited Statements$10,008,740
Expenses Not Reported on Financial Statements$1,733,082
Other Expense Adjustments$1,733,082
Expenses Not Reported on Form 990$860,222
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is prepared by an outside cpa using information provided by management. The form 990 is then reviewed by the company's cfo who submits any changes to the cpa. The updated form 990 is then reviewed and approved by management and the audit committee. Upon approval of the audit committee, the form 990 is executed by management and filed. The audit committee reports the result of their review and approval with the entire board at the next regularly schedule meeting.”

Form 990, Part VI, Section B, Line 12C

“Valley economic development center, inc. Regularly and consistently monitors and enforces its conflict of interest policy using the following procedure: board members and employees complete a conflict of interest disclosure from when they join the organization. The chair of the board follows up on potential board conflicts. Employees and board members are requested to notify vedc if any changes occur that require disclosure of a conflict of interest.”

Form 990, Part VI, Section B, Line 15

“The board of directors independently sets the ceo/president's compensation by using comparability data consisting of salary surveys and internet searches. Their deliberations and decisions are documented in the minutes of their meetings. The ceo/president independently sets the compensation of the remaining officers and key employees by using comparability data consiting of salary surveys and internet searches. These deliberations and decisions are documented in the employee files of the respective employees.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policies, and financial statements are available to executive staff and the board directors. Upon request from the general public, the organization will provide access to these documents as required by law.”

Filing and Contact Details

Filer

Filer Name
Valley Economic Development Center Inc
EIN
95-3139419
Phone
8189079977
Address
5121 VAN NUYS BLVD 3RD FLOOR, VAN NUYS, CA 91403

Signing Officer

Name
Robert J Dennen
Title
Chief Financial Officer
Phone
8189079977
Signed
2019-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert J Dennen
Formed
1976
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
12
Employees
82
Volunteers
0

Preparer

Firm
Vavrinektrineday & Co Llp
Address
10681 FOOTHILL BLVD SUITE 300, RANCHO CUCAMONGA, CA 91730
Preparer
Jeffrey a Carter
Phone
9094664410
Supplemental Narrative

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Special event-direct expense”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Interest expense 1,733,082.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special event-direct expense unrealized loss 860,222.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Interest expense 1,733,082.”

Raw XML AppendixShowing 400 of 653 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt18116653
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/TitleTxt0IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt16CHIEF DEVELOPMENT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt18PROGRAM DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASSIT CHIEF FINANCIAL OFFICER
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IRS990/GrantsToOrganizationsInd00
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IRS990/InsuranceGrp/FundraisingAmt05462
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IRS990/InsuranceGrp/ProgramServicesAmt084717
IRS990/InsuranceGrp/TotalAmt0101491
IRS990/InterestGrp/ProgramServicesAmt01733082
IRS990/InterestGrp/TotalAmt01733082
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt069705
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0380980
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt0250000
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IRS990/IRPDocumentW2GCnt00
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE FINANCING ASSISTANCE, MANAGEMENT CONSULTING, AND TRAINING TO ENTREPRENEURS AND SMALL BUSINESS OWNERS IN AND AROUND LOS ANGELES COUNTY AND THROUGHOUT CALIFORNIA.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt042236552
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IRS990/NetAssetsOrFundBalancesEOYAmt014716125
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt031342
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IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt078431
IRS990/OccupancyGrp/ProgramServicesAmt0381881
IRS990/OccupancyGrp/TotalAmt0510846
IRS990/OfficeExpensesGrp/FundraisingAmt03103
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt043243
IRS990/OfficeExpensesGrp/ProgramServicesAmt064115
IRS990/OfficeExpensesGrp/TotalAmt0110461
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt02405000
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt047397
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt011967
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0575271
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0634635
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1GRANT REPAYMENT
IRS990/OtherExpensesGrp/Desc2BANK CHARGES
IRS990/OtherExpensesGrp/Desc3EQUIPMENT AND MAINTENAN
IRS990/OtherExpensesGrp/FundraisingAmt016157
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0250000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt190924
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt225665
IRS990/OtherExpensesGrp/ProgramServicesAmt02125941
IRS990/OtherExpensesGrp/ProgramServicesAmt126109
IRS990/OtherExpensesGrp/ProgramServicesAmt261641
IRS990/OtherExpensesGrp/ProgramServicesAmt388043
IRS990/OtherExpensesGrp/TotalAmt02125941
IRS990/OtherExpensesGrp/TotalAmt1276109
IRS990/OtherExpensesGrp/TotalAmt2152565
IRS990/OtherExpensesGrp/TotalAmt3129865
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0628934
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0628934
IRS990/OtherRevenueTotalAmt0628934
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0240645
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0110786
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02963167
IRS990/OtherSalariesAndWagesGrp/TotalAmt03314598
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt038561462
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt026359467
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt021467
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt030886
IRS990/PayrollTaxesGrp/ProgramServicesAmt0253861
IRS990/PayrollTaxesGrp/TotalAmt0306214
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt013996168
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt013759440
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0147649
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0111735
IRS990/PrincipalOfficerNm0ROBERT J DENNEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1LENDING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02907116
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1619231
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02907116
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1619231
IRS990/ProgSrvcAccomActy2Grp/Desc0VEDC MICRO LOAN PROGRAMS: VEDC IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND PROVIDES ACCESS TO CAPITAL FOR CREATING AND/OR SUSTAINING JOBS VIA MAKING SBA AND OTHER PROGRAM MICRO LOANS BETWEEN $1,000 AND $50,000 TO MINORITY AND/OR WOMEN OWNED SMALL BUSINESS ENTREPRENEURS AND OTHER SMALL BUSINESS OWNERS WHO ARE LOCATED WITHIN, OR HAVE EMPLOYEES WHO RESIDE IN, LOW TO MODERATE INCOME AREAS SITUATED IN THE GREATER LOS ANGELES GEOGRAPHIC AREA. FUNDING SOURCES FOR THESE MICRO LOANS ARE THE US SMALL BUSINESS ADMINISTRATION AND SEVERAL MAJOR FINANCIAL INSTITUTIONS.
IRS990/ProgSrvcAccomActy3Grp/Desc0VEDC TECHNICAL ASSISTANCE PROGRAMS: VEDC PROVIDES TECHNICAL ASSISTANCE CONSULTING AND TRAINING PROGRAMS PRIMARILY TO MINORITY AND/OR WOMEN OWNED SMALL BUSINESS ENTREPRENEURS AND/OR SMALL BUSINESS ENTERREPRENEURS WHO ARE LOCATED WITHIN, OR HAVE EMPLOYEES WHO RESIDE IN, LOW TO MODERATE INCOME AREAS IN THE GREATER LOS ANGELES GEOGRAPHIC AREA. THESE PROGRAMS ALSO TEACH MARKETING AND OUTREACH STRATEGIES,PRE-SCREENING, FOLLOW-UP SERVICES, AND TRACKING OF CLIENT OUTCOMES IN CREATING JOBS AND BUSINESS OPPORTUNITIES FOR THEIR CLIENTS. IN ADDITION, VEDC PROVIDES TECHNICAL ASSISTANCE PROGRAMS SPECIFICALLY FOR MICRO LOAN BORROWERS WHOSE BUSINESSES ARE LOCATED PRIMARILY IN THE SOUTHERN CALIFORNIA AREA. THE MAJORITY OF FUNDING FOR THESE PROGRAMS COMES FROM GRANTS REPORTED ON PART VIII, LINE 1E PROVIDED BY THE US SMALL BUSINESS ADMINISTRATION, THE CITY OF LOS ANGELES VIA VARIOUS HUD CDGB GRANTS, AND THE DEPARTMENT OF HEALTH AND HUMAN SERVICES.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0STATEWIDE LENDING INITIATIVE & INTERNAL CAPACITY-BUILDING PROGRAMS, MISCELLANEOUS ECONOMIC DEVELOPMENT PROGRAMS, NON-GOVERNMENT FUNDED TRAINING AND OTHER PROGRAM SERVICES.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-171333
IRS990/PYOtherExpensesAmt08673309
IRS990/PYOtherRevenueAmt0188791
IRS990/PYProgramServiceRevenueAmt05695405
IRS990/PYRevenuesLessExpensesAmt0-6901524
IRS990/PYSalariesCompEmpBnftPaidAmt06786083
IRS990/PYTotalExpensesAmt015459392
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08557868
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-2932233
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IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt031342
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IRS990/RevenueAmt04186623
IRS990/SavingsAndTempCashInvstGrp/BOYAmt020058461
IRS990/SavingsAndTempCashInvstGrp/EOYAmt017943968
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt04553261

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$58,174,995
Liabilities
$43,458,870
Net assets
$14,716,125
Revenue
$8,809,589
Expenses
$11,741,822
Net income
-$2,932,233
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$31.2$29.9$1.26$2.41$5.31$2.90
2019Detailed filing. Detailed filing data is available for this year.$41.1$37.0$4.16$4.60$13.1$8.47
2018Detailed filing. Detailed filing data is available for this year.$58.2$43.5$14.7$8.81$11.7$2.93
2017Detailed filing. Detailed filing data is available for this year.$74.1$55.6$18.5$8.56$15.5$6.90
2016Detailed filing. Detailed filing data is available for this year.$70.1$44.7$25.4$12.9$12.7$0.20
2015Detailed filing. Detailed filing data is available for this year.$68.9$43.2$25.7$12.2$10.0$2.23
2014Detailed filing. Detailed filing data is available for this year.$53.5$30.1$23.4$13.6$8.03$5.57
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.5$24.7$17.8$6.75
2012Summary only. Only limited summary data is available for this year.$27.4$14.8$12.7$5.80$5.55$0.24
Peer Organizations

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