Civic Intelligence

Valley Economic Development Center Inc

990 • Fiscal year 2019 • EIN 95-3139419

Apr 01, 2018 to Mar 31, 2019 • Filed on Feb 13, 2020

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

89th percentile

0.90x

Higher debt load relative to assets than 89% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

8.05x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

1st percentile

-184%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

34th percentile

$192,794

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

1st percentile

-29%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-48%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Assets

Down

$41,149,591

Down $17,025,404 (-29%) from 2018

Net Assets

Down

$4,157,687

Down $10,558,438 (-72%) from 2018

Liabilities

Down

$36,991,904

Down $6,466,966 (-15%) from 2018

Revenue

Down

$4,595,194

Down $4,214,395 (-48%) from 2018

Expenses

Up

$13,061,289

Up $1,319,467 (+11%) from 2018

Net Income

Down

-$8,466,095

Down $5,533,862 (-189%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$41,149,591
Liabilities$36,991,904
Net Assets$4,157,687

Operations Trend

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

2019

Revenue$4,595,194
Expenses$13,061,289
Net Income-$8,466,095
Jump To
Filing Snapshot
Filing Period
Apr 1, 2018 to Mar 31, 2019
Signed
Feb 13, 2020
Return Version
2018v3.1
Gross Receipts
$4,595,194
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$26,359,467$18,036,796▼ $8,322,671
Savings and Temporary Cash Investments$17,943,968$14,476,737▼ $3,467,231
Land, Buildings, and Equipment, Net$8,766,051$6,520,590▼ $2,245,461
Cash and Non-Interest-Bearing Accounts$564,363$987,900▲ $423,537
Accounts Receivable$1,393,431$612,826▼ $780,605
Investments Other Securities$380,980$380,980→ $0
Investments in Publicly Traded Securities$250,000--
Prepaid Expenses and Deferred Charges$111,735$91,782▼ $19,953
Total Assets$58,174,995$41,149,591▼ $17,025,404
Other Assets Total$2,405,000$41,980▼ $2,363,020
Liabilities
Mortgage Notes Payable Secured by Investment Property$42,236,552$36,967,987▼ $5,268,565
Accounts Payable and Accrued Expenses$1,151,578--
Deferred Revenue$70,740$23,917▼ $46,823
Total Liabilities$43,458,870$36,991,904▼ $6,466,966
Net Assets / Fund Balance
Permanently Rstr Net Assets$13,759,440$8,695,790▼ $5,063,650
Temporarily Rstr Net Assets$4,702,227$3,063,617▼ $1,638,610
Unrestricted Net Assets$-3,745,542$-7,601,720▼ $3,856,178
Total Net Assets Fund Balance$14,716,125$4,157,687▼ $10,558,438
Total Liabilities and Net Assets / Fund Balance$58,174,995$41,149,591▼ $17,025,404

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,280,420$1,009,757$5,290,177
Land$1,884,426-$1,884,426
Other Land Buildings$355,744$554,056$909,800
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alex GuerreroChief Development OfficerFT$159,817$32,977$192,794
Ray VadalmaChief Executive OfficerFT$163,575$15,768$179,343
Robert J DennenChief Financial OfficerFT$150,716$27,201$177,917
Elizabeth WongAssit Chief Financial OffiFT$122,684$31,006$153,690
Monica GuerreroProgram DirectorFT$112,548$25,876$138,424
Edward ArnoldCompliance DirectorFT$104,320$16,839$121,159

Board Members and Trustees

NameTitle
Scott AneyChairman
Ariel BerriosVice Chair
Anita WolmanBoard Member
Leandro TybergBoard Member
Manuel RosalesBoard Member
Nishen RadiaBoard Member
Pegi MatsudaBoard Member
Ray VasquezBoard Member
Ron MerazBoard Member
Tamara GurneyBoard Member
John MarquisBoard Member Emeritus
Walt MosherBoard Member Emeritus
Shala TavakoliSecretary
Byron ReedTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,949,431
Program Service Revenue
$1,510,795
Investment Income
$34,384
Other Revenue
$100,584
All Other Contributions
$1,144,052
Change in Net Assets
$-8,466,095
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,002,732
Salaries, Compensation, and Employee Benefits$3,058,557
Total Fundraising Expense$253,948
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,835,914$170,865$140,696$2,147,475
Fees for Services Other$496,625$55,181-$551,806
Occupancy$370,817$69,528$23,176$463,521
Depreciation Depletion$295,762$117,521$6,446$419,729
Other Employee Benefits$338,981$31,548$25,978$396,507
Current Officers, Directors, Trustees, and Key Employees$152,161$158,372-$310,533
All Other Expenses$194,838$81,665$7,011$283,514
Fees for Services Accounting$164,547$111,525-$276,072
Payroll Taxes$169,157$20,581$14,304$204,042
Information Technology$157,295$14,448$5,169$176,912
Other Expenses$92,327$13,090$4,750$110,167
Insurance$90,548$12,090$5,838$108,476
Travel$43,762$34,214$1,591$79,567
Office Expenses$28,176$19,003$1,364$48,543
Advertising$23,436$4,538$17,625$45,599
Conferences and Meetings$19,457$6,486-$25,943
Total Functional Expenses$11,886,686$920,655$253,948$13,061,289
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
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 was prepared by an outside cpa using information provided by vedc. The form 990 is then reviewed by the company's financial advisor who submits any changes to the cpa. The updated form 990 was then reviewed and approved by management. The form 990 is executed by management and filed.

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
David K Gottlieb
Title
Chief Restructuring Officer
Phone
8189079977
Signed
2020-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David K Gottlieb
Formed
1976
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
12
Employees
38
Volunteers
0

Preparer

Firm
Eide Bailly Llp
Address
10681 FOOTHILL BLVD STE 300, RANCHO CUCAMONGA, CA 91730-3831
Preparer
Catherine L Gray
Phone
9094664410
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

The organization filed for bankruptcy protection on july 2, 2019. The filing for bankruptcy significantly impacted all of vedc's programs.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Special event-direct expense

PART XI, LINE 4B - OTHER ADJUSTMENTS:

INTEREST EXPENSE

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event-direct expense unrealized loss

PART XII, LINE 4B - OTHER ADJUSTMENTS:

INTEREST EXPENSE

Raw XML AppendixShowing 400 of 660 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt01151578
IRS990/AccountsReceivableGrp/BOYAmt01393431
IRS990/AccountsReceivableGrp/EOYAmt0612826
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO CREATE AND SUSTAIN JOBS AND BUSINESSES IN OUR COMMUNITIES BY PROVIDING HIGH-QUALITY ECONOMIC DEVELOPMENT SERVICES.
IRS990/AdvertisingGrp/FundraisingAmt017625
IRS990/AdvertisingGrp/ManagementAndGeneralAmt04538
IRS990/AdvertisingGrp/ProgramServicesAmt023436
IRS990/AdvertisingGrp/TotalAmt045599
IRS990/AllOtherContributionsAmt01144052
IRS990/AllOtherExpensesGrp/FundraisingAmt07011
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt081665
IRS990/AllOtherExpensesGrp/ProgramServicesAmt0194838
IRS990/AllOtherExpensesGrp/TotalAmt0283514
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0ROBERT DENNEN
IRS990/BooksInCareOfDetail/PhoneNum08189079977
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt05121 VAN NUYS BLVD 3RD FLOOR
IRS990/BooksInCareOfDetail/USAddress/CityNm0VAN NUYS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0CA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd091403
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0564363
IRS990/CashNonInterestBearingGrp/EOYAmt0987900
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt0158372
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0152161
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0310533
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt06486
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt019457
IRS990/ConferencesMeetingsGrp/TotalAmt025943
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt02949431
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt034384
IRS990/CYOtherExpensesAmt010002732
IRS990/CYOtherRevenueAmt0100584
IRS990/CYProgramServiceRevenueAmt01510795
IRS990/CYRevenuesLessExpensesAmt0-8466095
IRS990/CYSalariesCompEmpBnftPaidAmt03058557
IRS990/CYTotalExpensesAmt013061289
IRS990/CYTotalFundraisingExpenseAmt0253948
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt04595194
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt070740
IRS990/DeferredRevenueGrp/EOYAmt023917
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/FundraisingAmt06446
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt0117521
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0295762
IRS990/DepreciationDepletionGrp/TotalAmt0419729
IRS990/Desc0VEDC SMALL BUSINESS LOANS PROGRAMS: VEDC IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND PROVIDE ACCESS TO CAPITAL FOR CREATING AND/OR SUSTAINING JOBS VIA MAKING SMALL BUSINESS LOANS WITH FUNDS RECEIVED FROM NUMEROUS SOURCES INCLUDING SEVERAL FEDERAL GOVERNMENT AGENCIES, MAJOR BANKS, AND VARIOUS OTHER OTHER FINANCIAL INSTITUTIONS. THESE LOANS RANGED IN AMOUNTS BETWEEN $50,000 AND $500,000 AND WERE DISBURSED TO EXISTING MINORITY AND/OR WOMEN OWNED SMALL BUSINESS ENTREPRENEURS AND OTHER SMALL BUSINESS OWNERS WHO WERE LOCATED WITHIN, OR HAD EMPLOYEES WHO RESIDE IN, LOW TO MODERATE INCOME AREAS SITUATED THROUGHOUT CALIFORNIA. AS A RESULT OF THE FILING BANKRUPTCY ON JULY 2, 2019 VEDC DISCONTINUED PROVIDING SMALL BUSINESS LOANS TO ITS CONSTITUTENTS UNDER THE SMALL BUSINESS LOAN/PROGRAMS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt038
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt011886686
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt0111525
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt0164547
IRS990/FeesForServicesAccountingGrp/TotalAmt0276072
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt055181
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0496625
IRS990/FeesForServicesOtherGrp/TotalAmt0551806
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt04.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt14.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt24.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt34.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt44.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt54.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt64.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt74.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt84.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt94.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt104.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt114.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt124.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt134.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1440.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1540.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1640.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1740.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1840.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1940.00
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd1X
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/KeyEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1427201
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1515768
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1632977
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1716839
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1825876
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1931006
IRS990/Form990PartVIISectionAGrp/PersonNm0NISHEN RADIA
IRS990/Form990PartVIISectionAGrp/PersonNm1TAMARA GURNEY
IRS990/Form990PartVIISectionAGrp/PersonNm2SCOTT ANEY
IRS990/Form990PartVIISectionAGrp/PersonNm3ARIEL BERRIOS
IRS990/Form990PartVIISectionAGrp/PersonNm4PEGI MATSUDA
IRS990/Form990PartVIISectionAGrp/PersonNm5RON MERAZ
IRS990/Form990PartVIISectionAGrp/PersonNm6BYRON REED
IRS990/Form990PartVIISectionAGrp/PersonNm7MANUEL ROSALES
IRS990/Form990PartVIISectionAGrp/PersonNm8LEANDRO TYBERG
IRS990/Form990PartVIISectionAGrp/PersonNm9SHALA TAVAKOLI
IRS990/Form990PartVIISectionAGrp/PersonNm10ANITA WOLMAN
IRS990/Form990PartVIISectionAGrp/PersonNm11RAY VASQUEZ
IRS990/Form990PartVIISectionAGrp/PersonNm12JOHN MARQUIS
IRS990/Form990PartVIISectionAGrp/PersonNm13WALT MOSHER
IRS990/Form990PartVIISectionAGrp/PersonNm14ROBERT J DENNEN
IRS990/Form990PartVIISectionAGrp/PersonNm15RAY VADALMA
IRS990/Form990PartVIISectionAGrp/PersonNm16ALEX GUERRERO
IRS990/Form990PartVIISectionAGrp/PersonNm17EDWARD ARNOLD
IRS990/Form990PartVIISectionAGrp/PersonNm18MONICA GUERRERO
IRS990/Form990PartVIISectionAGrp/PersonNm19ELIZABETH WONG
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14150716
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15163575
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16159817
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17104320
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt18112548
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt19122684
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIRMAN
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 EMERITUS
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER EMERITUS
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt16CHIEF DEVELOPMENT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt17COMPLIANCE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18PROGRAM DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASSIT CHIEF FINANCIAL OFFI
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01976
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GovernmentGrantsAmt01805379
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04595194
IRS990/GrossRentsGrp/RealAmt030687
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt05169
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt014448
IRS990/InformationTechnologyGrp/ProgramServicesAmt0157295
IRS990/InformationTechnologyGrp/TotalAmt0176912
IRS990/InsuranceGrp/FundraisingAmt05838
IRS990/InsuranceGrp/ManagementAndGeneralAmt012090
IRS990/InsuranceGrp/ProgramServicesAmt090548
IRS990/InsuranceGrp/TotalAmt0108476
IRS990/InvestmentIncomeGrp/ExclusionAmt034384
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt034384
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0380980
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0380980
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0250000
IRS990/IRPDocumentCnt078
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01563813
IRS990/LandBldgEquipBasisNetGrp/BOYAmt08766051
IRS990/LandBldgEquipBasisNetGrp/EOYAmt06520590
IRS990/LandBldgEquipCostOrOtherBssAmt08084403
IRS990/LegalDomicileStateCd0CA
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
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. ON JULY 2, 2019 VALLEY ECONOMIC DEVELOPMENT CENTER FILED FOR BANKRUPTCY. THE FILING FOR BANKRUPTCY IMPACTED ALL OF VEDC'S PROGRAMS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt042236552
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt036967987
IRS990/NetAssetsOrFundBalancesBOYAmt014716125
IRS990/NetAssetsOrFundBalancesEOYAmt04157687
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt030687
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt030687
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-2092343
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt023176
IRS990/OccupancyGrp/ManagementAndGeneralAmt069528
IRS990/OccupancyGrp/ProgramServicesAmt0370817
IRS990/OccupancyGrp/TotalAmt0463521
IRS990/OfficeExpensesGrp/FundraisingAmt01364
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt019003
IRS990/OfficeExpensesGrp/ProgramServicesAmt028176
IRS990/OfficeExpensesGrp/TotalAmt048543
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02405000
IRS990/OtherAssetsTotalGrp/EOYAmt041980
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt025978
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt031548
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0338981
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0396507
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1RETURN OF EDA CALED LOA
IRS990/OtherExpensesGrp/Desc2LOAN SERVICE FEES
IRS990/OtherExpensesGrp/Desc3EQUIPMENT AND MAINTENAN
IRS990/OtherExpensesGrp/FundraisingAmt04750
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt013090
IRS990/OtherExpensesGrp/ProgramServicesAmt03947243
IRS990/OtherExpensesGrp/ProgramServicesAmt13059453
IRS990/OtherExpensesGrp/ProgramServicesAmt2406187
IRS990/OtherExpensesGrp/ProgramServicesAmt392327
IRS990/OtherExpensesGrp/TotalAmt03947243
IRS990/OtherExpensesGrp/TotalAmt13059453
IRS990/OtherExpensesGrp/TotalAmt2406187
IRS990/OtherExpensesGrp/TotalAmt3110167
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt069897
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt069897
IRS990/OtherRevenueTotalAmt069897
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0140696
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0170865
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01835914
IRS990/OtherSalariesAndWagesGrp/TotalAmt02147475
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt026359467
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt018036796
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt014304
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt020581
IRS990/PayrollTaxesGrp/ProgramServicesAmt0169157
IRS990/PayrollTaxesGrp/TotalAmt0204042
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt013759440
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt08695790
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0111735
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt091782
IRS990/PrincipalOfficerNm0DAVID K GOTTLIEB
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1LENDING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0848790
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1662005
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0848790
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1662005
IRS990/ProgSrvcAccomActy2Grp/Desc0VEDC MICRO LOAN PROGRAMS: VEDC IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND PROVIDED 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. AS A RESULT OF FILING BANKRUPTCY ON JULY 2, 2019, VEDC DISCONTINUED PROVIDING MICROLANS TO ITS CONSTITUENTS UNDER THE MICRO LOAN PROGRAM.
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 WERE LOCATED WITHIN, OR HAVE EMPLOYEES WHO RESIDE IN, LOW TO MODERATE INCOME AREAS IN THE GREATER LOS ANGELES GEOGRAPHIC AREA. THESE PROGRAMS ALSO TAUGHT 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 PROVIDED TECHNICAL ASSISTANCE PROGRAMS SPECIFICALLY FOR MICRO LOAN BORROWERS WHOSE BUSINESSES WERE LOCATED PRIMARILY IN THE SOUTHERN CALIFORNIA AREA. THE MAJORITY OF FUNDING FOR THESE PROGRAMS CAME 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. AS A RESULT OF FILING BANKRUPTCY ON JULY 2, 2019, VEDC DISCONTINUED PROVIFING TECHNICAL ASSISTANCE TO ITS CONSTITUENTS UNDER ITS TECHNICAL ASSISTANCE PROGRAM.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0STATEWIDE LENDING INITIATIVE & INTERNAL CAPACITY-BUILDING PROGRAMS, MISCELLANEOUS ECONOMIC DEVELOPMENT PROGRAMS, NON-GOVERNMENT FUNDED TRAINING AND OTHER PROGRAM SERVICES.AS A RESULT OF FILING BANKRUPTCY ON JULY 2, 2019, VEDC DISCONTINUED PROVIFING SERVICES LISTED UNDER ITS OTHER PROGRAMS.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt04553261
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt069705
IRS990/PYOtherExpensesAmt07127948
IRS990/PYOtherRevenueAmt0660276
IRS990/PYProgramServiceRevenueAmt03526347
IRS990/PYRevenuesLessExpensesAmt0-2932233
IRS990/PYSalariesCompEmpBnftPaidAmt04613874
IRS990/PYTotalExpensesAmt011741822
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08809589
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-8466095
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt030687
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01611379
IRS990/SavingsAndTempCashInvstGrp/BOYAmt017943968
IRS990/SavingsAndTempCashInvstGrp/EOYAmt014476737
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02949431
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt04553261
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03875379
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt08065603
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt08813394
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt028257068
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt034384
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt069705
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt024679
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt084141
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0106890

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings