Civic Intelligence

Ward Economic Development Corporation

EIN 95-4206960 • 501(c)3 • Los Angeles, CA

Profile

Ward economic development corporation (wedc) was incorporated on november 12, 1987 pursuant to the general nonprofit corporation law of the state of california. Wedc was created to achieve the following: (1) to identify and pursue economic development opportunities within the city of los angeles (2) provide 91 units of low-income housing through the operations of tuelyn terrace and (3) the operation and availability of additional low-income affordable housing units at various scattered sites in los angeles.

1177 West Adams BoulevardLos Angeles, CA 90007

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.59x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

5.69x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

22nd percentile

-7.7%

Higher net margin than 22% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

31st percentile

-0.8%

Faster asset growth than 31% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-64%

Faster revenue growth than 3% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$7,400,052

Down $58,576 (-0.8%) from 2023

Liabilities

Up

$4,336,958

Up $459 (+0.0%) from 2023

Net Assets

Down

$3,063,094

Down $59,035 (-1.9%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin22nd percentile

Revenue

Down

$761,996

Down $1,341,938 (-64%) from 2023

Expenses

Down

$821,031

Down $1,305,856 (-61%) from 2023

Net Income

Down

-$59,035

Down $36,082 (-157%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth31st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2011: $8,764,460Liabilities 2011: $5,498,230Net Assets 2011: $3,266,2302011Assets 2012: $8,667,572Liabilities 2012: $5,381,936Net Assets 2012: $3,285,6362012Assets 2013: $8,527,461Liabilities 2013: $5,184,328Net Assets 2013: $3,343,1332013Assets 2014: $8,326,560Liabilities 2014: $5,162,945Net Assets 2014: $3,163,6152014Assets 2015: $8,296,365Liabilities 2015: $5,283,050Net Assets 2015: $3,013,3152015Assets 2016: $8,144,156Liabilities 2016: $5,264,391Net Assets 2016: $2,879,7652016Assets 2017: $7,836,332Liabilities 2017: $5,019,231Net Assets 2017: $2,817,1012017Assets 2018: $7,554,339Liabilities 2018: $4,823,370Net Assets 2018: $2,730,9692018Assets 2019: $7,796,169Liabilities 2019: $4,710,230Net Assets 2019: $3,085,9392019Assets 2020: $7,929,055Liabilities 2020: $4,452,249Net Assets 2020: $3,476,8062020Assets 2021: $7,561,759Liabilities 2021: $4,425,924Net Assets 2021: $3,135,8352021Assets 2022: $7,530,319Liabilities 2022: $4,385,237Net Assets 2022: $3,145,0822022Assets 2023: $7,458,628Liabilities 2023: $4,336,499Net Assets 2023: $3,122,1292023Assets 2024: $7,400,052Liabilities 2024: $4,336,958Net Assets 2024: $3,063,0942024

Highlighted filing

2024

Assets$7,400,052
Liabilities$4,336,958
Net Assets$3,063,094
Open 2024 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $647,985Expenses 2011: $808,043Net Income 2011: -$160,0582011Revenue 2012: $850,814Expenses 2012: $831,408Net Income 2012: $19,4062012Revenue 2013: $766,251Expenses 2013: $708,754Net Income 2013: $57,4972013Revenue 2014: $468,848Expenses 2014: $602,444Net Income 2014: -$133,5962014Revenue 2015: $438,149Expenses 2015: $588,449Net Income 2015: -$150,3002015Revenue 2016: $413,857Expenses 2016: $547,407Net Income 2016: -$133,5502016Revenue 2017: $515,793Expenses 2017: $578,457Net Income 2017: -$62,6642017Revenue 2018: $571,894Expenses 2018: $658,026Net Income 2018: -$86,1322018Revenue 2019: $1,215,670Expenses 2019: $860,700Net Income 2019: $354,9702019Revenue 2020: $1,055,393Expenses 2020: $664,526Net Income 2020: $390,8672020Revenue 2021: $646,213Expenses 2021: $613,991Net Income 2021: $32,2222021Revenue 2022: $3,516,517Expenses 2022: $3,507,270Net Income 2022: $9,2472022Revenue 2023: $2,103,934Expenses 2023: $2,126,887Net Income 2023: -$22,9532023Revenue 2024: $761,996Expenses 2024: $821,031Net Income 2024: -$59,0352024

Highlighted filing

2024

Revenue$761,996
Expenses$821,031
Net Income-$59,035
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,400,052
Liabilities
$4,336,958
Net assets
$3,063,094
Revenue
$761,996
Expenses
$821,031
Net income
-$59,035
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.40$4.34$3.06$0.76$0.82$0.06
2023Detailed filing. Detailed filing data is available for this year.$7.46$4.34$3.12$2.10$2.13$0.02
2022Detailed filing. Detailed filing data is available for this year.$7.53$4.39$3.15$3.52$3.51$0.01
2021Detailed filing. Detailed filing data is available for this year.$7.56$4.43$3.14$0.65$0.61$0.03
2020Detailed filing. Detailed filing data is available for this year.$7.93$4.45$3.48$1.06$0.66$0.39
2019Detailed filing. Detailed filing data is available for this year.$7.80$4.71$3.09$1.22$0.86$0.35
2018Detailed filing. Detailed filing data is available for this year.$7.55$4.82$2.73$0.57$0.66$0.09
2017Detailed filing. Detailed filing data is available for this year.$7.84$5.02$2.82$0.52$0.58$0.06
2016Detailed filing. Detailed filing data is available for this year.$8.14$5.26$2.88$0.41$0.55$0.13
2015Detailed filing. Detailed filing data is available for this year.$8.30$5.28$3.01$0.44$0.59$0.15
2014Detailed filing. Detailed filing data is available for this year.$8.33$5.16$3.16$0.47$0.60$0.13
2013Detailed filing. Detailed filing data is available for this year.$8.53$5.18$3.34$0.77$0.71$0.06
2012Summary only. Only limited summary data is available for this year.$8.67$5.38$3.29$0.85$0.83$0.02
2011Summary only. Only limited summary data is available for this year.$8.76$5.50$3.27$0.65$0.81$0.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 23, 2025
Return Version
2024v5.2
Gross Receipts
$761,996
Mission and Program Overview

Mission

Ward economic development corporation (wedc) was incorporated on november 12 1987 pursuant to the general nonprofit corporation law of the states of california. Wedc was created to achieve the followingto identify economic development opportunities

Ward economic development corporation (wedc) was incorporated on november 12, 1987 pursuant to the general nonprofit corporation law of the state of california. Wedc was created to achieve the following: (1) to identify and pursue economic development opportunities within the city of los angeles (2) provide 91 units of low-income housing through the operations of tuelyn terrace and (3) the operation and availability of additional low-income affordable housing units at various scattered sites in los angeles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,527,217$3,483,620▼ $43,597
Other Notes and Loans Receivable, Net$1,183,000$1,183,000→ $0
Cash and Non-Interest-Bearing Accounts$181,786$166,588▼ $15,198
Savings and Temporary Cash Investments$89,717$89,936▲ $219
Accounts Receivable$2,000$2,000→ $0
Total Assets$7,458,628$7,400,052▼ $58,576
Other Assets Total$2,474,908$2,474,908→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,283,888$3,242,932▼ $40,956
Other Liabilities$961,182$961,182→ $0
Accounts Payable and Accrued Expenses$91,429$132,844▲ $41,415
Total Liabilities$4,336,499$4,336,958▲ $459
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,122,129$3,063,094▼ $59,035
Total Net Assets Fund Balance$3,122,129$3,063,094▼ $59,035
Total Liabilities and Net Assets / Fund Balance$7,458,628$7,400,052▼ $58,576

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$532,616$2,494,809$3,027,425
Land$2,945,900-$2,945,900
Other Land Buildings$5,104$44,242$49,346
Other Assets Org$2,474,908--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Robert CampbellChairperson
Amy RichardsonMember
Barry SettleMember
Jarrell DavisMember
Robert RussMember
Jacquelyn Dupont-walkerSecretary
Roland a WileyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,000
Program Service Revenue
$188,520
Investment Income
$513
Other Revenue
$567,963
All Other Contributions
$5,000
Change in Net Assets
$-59,035
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$648,401
Salaries, Compensation, and Employee Benefits$172,630
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance$103,736$27,105-$130,841
Other Salaries and Wages$10,225$70,933-$81,158
Current Officers, Directors, Trustees, and Key Employees$53,047$11,953-$65,000
Depreciation Depletion$59,977--$59,977
Interest$17,647$41,696-$59,343
Other Expenses$15,517$29,702-$45,219
Office Expenses$21,254$14,003-$35,257
Fees for Services Management$30,000--$30,000
Payroll Taxes$14,436$1,000-$15,436
Other Employee Benefits$10,436$600-$11,036
All Other Expenses$4,375--$4,375
Total Functional Expenses$503,846$317,185$0$821,031
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$673,130
Due to Related Party$220,523
Tenant Security Deposits Payable$46,233
Equity Investment in Affiliates$21,296
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 35% controlled entity
No
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
No
Other officer compensation reviewed
No
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

“The form 990 was reviewed with the president of ward economic development corporation prior to efiling with the internal revenue service.”

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

“The conflict of interest policy is a component of the overall board of directors policy. It is disclosed as a part of the organizational policy manual for the board of directors, as well as the officers of ward economic development corporation.”

Form 990, Part VI, Section C, Line 19

“The ward economic development corporation governing documents, audited financial statements and nonprofit informational tax returns are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Ward Economic Development Corporation
EIN
95-4206960
Phone
2137471188
Address
1177 WEST ADAMS BOULEVARD, LOS ANGELES, CA 90007

Signing Officer

Name
Jacquelyn Dupont-walker
Title
President
Phone
2137471188
Signed
2025-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacquelyn Dupont-walker
Formed
1987
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
11
Volunteers
105

Preparer

Firm
Keller and Associates Llp
Address
18645 SHERMAN WAY SUITE 110, RESEDA, CA 91335
Preparer
David Keller
Phone
8183833079
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IRS990/OtherExpensesGrp/Desc1OUTSIDE AND PROFESSIONA
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IRS990/OtherExpensesGrp/Desc3REAL ESTATE TAXES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt184189
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23738
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt329702
IRS990/OtherExpensesGrp/ProgramServicesAmt082746
IRS990/OtherExpensesGrp/ProgramServicesAmt12054
IRS990/OtherExpensesGrp/ProgramServicesAmt278396
IRS990/OtherExpensesGrp/ProgramServicesAmt315517
IRS990/OtherExpensesGrp/TotalAmt0115012
IRS990/OtherExpensesGrp/TotalAmt186243
IRS990/OtherExpensesGrp/TotalAmt282134
IRS990/OtherExpensesGrp/TotalAmt345219
IRS990/OtherLiabilitiesGrp/BOYAmt0961182
IRS990/OtherLiabilitiesGrp/EOYAmt0961182
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IRS990/OtherRevenueMiscGrp/Desc1OTHER REVENUES
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1992
IRS990/OtherRevenueTotalAmt05059
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt070933
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt010225
IRS990/OtherSalariesAndWagesGrp/TotalAmt081158
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IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01000
IRS990/PayrollTaxesGrp/ProgramServicesAmt014436
IRS990/PayrollTaxesGrp/TotalAmt015436
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JACQUELYN DUPONT-WALKER
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt212000
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02103934
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01343500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt02806150
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt087560
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0222701
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt04583411
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0513
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01200
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0314
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt074
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0521
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02622
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0513
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01200
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0314
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt074
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0521
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02622
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IRS990ScheduleA/InvestmentIncomePYPct00.00030
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IRS990ScheduleA/PublicSupportPY509Pct00.99970
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0759234
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IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0558579
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0832171
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0646139
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01054872
IRS990ScheduleA/Total509Grp/TotalAmt08081431
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01055393
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02494809
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IRS990ScheduleD/LandGrp/BookValueAmt02945900
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02945900
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02474908
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INTEREST RECEIVABLE
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt044242
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt049346
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0673130
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1220523
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt221296
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt346233
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO RELATED PARTY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2EQUITY INVESTMENT IN AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3TENANT SECURITY DEPOSITS PAYABLE
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt02474908
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IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0REQUIRED REPORTS ARE MAINTAINED BY MANAGEMENT, AS REQUIRED IN THE RESPECTIVE AGREEMENTS, AS WELL AS A THIRD PARTY REVIEW FOR COMPLIANCE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS REVIEWED WITH THE PRESIDENT OF WARD ECONOMIC DEVELOPMENT CORPORATION PRIOR TO EFILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS A COMPONENT OF THE OVERALL BOARD OF DIRECTORS POLICY. IT IS DISCLOSED AS A PART OF THE ORGANIZATIONAL POLICY MANUAL FOR THE BOARD OF DIRECTORS, AS WELL AS THE OFFICERS OF WARD ECONOMIC DEVELOPMENT CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE WARD ECONOMIC DEVELOPMENT CORPORATION GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS AND NONPROFIT INFORMATIONAL TAX RETURNS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SubjectToProxyTaxInd00
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalProgramServiceRevenueAmt0188520
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IRS990/TotalRevenueGrp/ExclusionAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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