LOS ANGELES CLEANTECH INCUBATOR

EIN: 454998717 501(c)(3) Community Improvement

LOS ANGELES, CA

Total Revenue
$26,341,807
Total Expenses
$17,769,053
Total Assets
$22,248,258
Net Assets
$19,872,994
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
CA
Principal Officer
MATHEW PETERSEN
Phone
2133586500
Tax Period
2023-01-01 to 2023-12-31

LOS ANGELES CLEANTECH INCUBATOR, founded in 2012, is a mid-sized nonprofit in the Community Improvement sector that reported $26.3M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.6M, a strong 33% operating margin.

Mission

THE ORGANIZATION WAS FORMED TO PERFORM AND CARRY OUT EXPRESSLY CHARITABLE CONTRIBUTIONS. THE SPECIFIC EXEMPT PURPOSES OF THE ORGANIZATION ARE (I) TO ACCELERATE THE COMERCIALIZATION OF CLEAN TECHNOLOGIES BY PROVIDING SUPPORT, EDUCATION, WORKFORCE TRAINING, MENTORSHIP AND NETWORKING FOR NON-PROFIT ANF FOR-PROFIT START-UP CLEAN TECHNOLOGY COMPANIES LOCATED IN THE REGION OF LOS ANGELES, CALIFORNIA; (II) TO CONSERVE THE NATURAL ENVIRONMENT AND PROMOTE THE ECOLOGICALLY SOUND AND SUSTAINABLE USE OF ENVIRONMENTAL RESOURCES; (III) TO LESSEN THE BURDENS OF GOVERNMENT THROUGH ADVANCEMENT OF ECONOMIC OPPORTUNITIES IN THE AREA OF CLEAN TECHNOLOGY; AND (IV) TO ENGAGE IN ANY AND ALL OTHER CHARITABLE, ELEEMOSYNARY, AND EDUCATIONAL ACTIVITIES PERMITTED TO AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

Program Service Accomplishments

Program 1
Expenses: $5,958,141

MARKET TRANSFORMATION TO ACCELERATE SYSTEM CHANGE ON KEY INITIATIVES ACROSS TRANSPORTATION AND MOBILITY, ENERGY AND SUSTAINABLE CITIES, LACI HAS INITIATED PUBLIC SECTOR, INDUSTRY AND CORPORATE...

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MARKET TRANSFORMATION TO ACCELERATE SYSTEM CHANGE ON KEY INITIATIVES ACROSS TRANSPORTATION AND MOBILITY, ENERGY AND SUSTAINABLE CITIES, LACI HAS INITIATED PUBLIC SECTOR, INDUSTRY AND CORPORATE PARTNERSHIPS AND WORKING RELATIONSHIPS TO IDENTIFY AND DRIVE THE COMMERCIALIZATION OF CLEANTECH AND SUSTAINABLE SOLUTIONS AND REDUCE REAL, AND PERCEIVED, CLEANTECH ADOPTION HURDLES. MORE THAN 5 YEARS AGO, LACI CONVENED THE TRANSPORTATION ELECTRIFICATION PARTNERSHIP (TEP), AN UNPRECEDENTED MULTI-YEAR PARTNERSHIP AMONG LOCAL, REGIONAL, AND STATE STAKEHOLDERS THAT IS WORKING TO ACCELERATE PROGRESS TOWARDS TRANSPORTATION ELECTRIFICATION AND ZERO EMISSIONS GOODS MOVEMENT IN THE GREATER LA REGION IN ADVANCE OF THE 2028 OLYMPIC AND PARALYMPIC GAMES.IN 2023 WE LAUNCHED THE CLEAN ENERGY PARTNERSHIP, WITH THREE SOLUTION-ORIENTED, PRIORITY PATHWAYS WITH RELATED SPECIFIC TARGETS TO SPUR INNOVATION AND ACCELERATE IMPLEMENTATION VIA RECOMMENDED POLICIES, PILOTS, AND OTHER INITIATIVES.

Program 2
Expenses: $4,210,561 Revenue: $70,076

UNLOCKING INNOVATION LACI INCUBATES AND ACCELERATES CLEANTECH STARTUPS AND HELPS COMMERCIALIZE THEIR TECHNOLOGIES BY PROVIDING BEST-IN-CLASS COACHING AND ADVICE TO FOUNDERS, FACILITATING INVESTMENT...

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UNLOCKING INNOVATION LACI INCUBATES AND ACCELERATES CLEANTECH STARTUPS AND HELPS COMMERCIALIZE THEIR TECHNOLOGIES BY PROVIDING BEST-IN-CLASS COACHING AND ADVICE TO FOUNDERS, FACILITATING INVESTMENT PREPARATION AND ASSISTANCE WITH SHARED BUSINESS SERVICES, AND PROVIDING ACCESS TO HIGH-VALUE RESOURCES. WE OFFER THREE TIERS OF COHORT-BASED PROGRAM SUPPORT: INNOVATORS FOR PRE-COMMERCIAL, EARLY-STAGE ENERGY ENTREPRENEURS; OUR CORE INCUBATION PROGRAM, TO SUPPORT PRE-SEED AND SEED-STAGE CLEANTECH STARTUPS IN SOUTHERN CALIFORNIA; AND MARKET ACCESS, A PILOT CENTRIC PROGRAM FOR SERIES A CLEANTECH STARTUPS READY TO SCALE.

Program 3
Expenses: $2,499,460 Revenue: $1,840,477

LACI STEWARDSHIP OF LA KRETZ INNOVATION CAMPUS (LKIC) ON BEHALF OF THE CITY OF LOS ANGELES AND LADWP, LACI REMAINS THE STEWARD OF THE 3.2 ACRE STATE-OF-THE-ART LA KRETZ INNOVATION CAMPUS, WHICH...

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LACI STEWARDSHIP OF LA KRETZ INNOVATION CAMPUS (LKIC) ON BEHALF OF THE CITY OF LOS ANGELES AND LADWP, LACI REMAINS THE STEWARD OF THE 3.2 ACRE STATE-OF-THE-ART LA KRETZ INNOVATION CAMPUS, WHICH PROVIDES A CRITICAL HUB FOR CLEANTECH INNOVATION IN LOS ANGELES. THE CAMPUS FEATURES THE ADVANCED PROTOTYPING CENTER (APC), A COLLABORATIVE MAKERSPACE WHERE ENTREPRENEURS, ARTISTS, INVENTORS, AND STARTUPS CAN DESIGN, BUILD, TEST AND CERTIFY INNOVATIVE PRODUCTS, ALL UNDER ONE ROOF. THE APC FEATURES MORE THAN $11 MILLION WORTH OF TOOLS, LABS, AND SHOPS, INCLUDING AN ELECTRONICS LAB, BIOCHEMISTRY LAB, CELL LAB, CNC MACHINE, WATER JET, 3D PRINTING, WELDING EQUIPMENT, USE OF PREMIUM CAD SOFTWARE, LASER CUTTERS, A TRAINING CENTER, AND MORE. LKIC ALSO FEATURES THE INTERACTIVE LOS ANGELES DEPARTMENT OF WATER AND POWER CUSTOMER ENGAGEMENT LAB, AS WELL AS ENERGY EFFICIENCY AND EMERGING TECHNOLOGIES LABORATORIES. THE FACILITY ATTRACTS A CONSISTENT ROSTER OF PROFESSIONAL DEVELOPMENT WORKSHOPS, COMMUNITY EVENTS, AND PANEL DISCUSSIONS HOSTED BY LADWP, LACI, CAMPUS MEMBERS, PORTFOLIO SERVICES PROVIDERS AND COMMUNITY GROUPS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $24,055,726
Program Service Revenue $1,910,553
Investment Income $446,050
Other Revenue $-70,522
TOTAL REVENUE $26,341,807

Expense Breakdown

Grants Paid $38,500
Salaries & Benefits $7,544,096
Fundraising Expenses $746,921
Program Expenses $15,973,939
Other Expenses $10,186,457
TOTAL EXPENSES $17,769,053

Year-over-Year Comparison

2023 2022 Change
Revenue $26,341,807 $21,575,491 +0.2%
Expenses $17,769,053 $14,365,079 +0.2%
Net Income $8,572,754 $7,210,412 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
75
Volunteers
11

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$721,287
Total Directors
11
$0
Key Employees
1
$258,924
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM CASSELBERRY CHAIRPERSON 1.00
Officer Director
$0 $0 $0
DAVID NAHAI TREASURER 1.00
Officer Director
$0 $0 $0
SARAH RIENHOFF SECRETARY 1.00
Officer Director
$0 $0 $0
ALLISON HOLMES BOARD MEMBER 1.00
Director
$0 $0 $0
MARY LESLIE BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL JENNINGS BOARD MEMBER 1.00
Director
$0 $0 $0
DANIEL TALLALIAN BOARD MEMBER 1.00
Director
$0 $0 $0
ALFRED FRAIJO BOARD MEMBER 1.00
Director
$0 $0 $0
BRETT HAUSER BOARD MEMBER 1.00
Director
$0 $0 $0
LIZ HELLER BOARD MEMBER 1.00
Director
$0 $0 $0
ZUBIN DAVAR BOARD MEMBER 1.00
Director
$0 $0 $0
MATHEW PETERSEN PRESIDENT AND CEO 40.00
Officer
$414,727 $33,950 $448,677
BENJAMIN STILP EXCECUTIVE VICE PRESIDENT 40.00
Officer
$251,009 $21,601 $272,610
AMANDA SABICER CHIEF OF STAFF, EVP OPS & PEOPLE 40.00
Key Emp
$228,705 $30,219 $258,924
MICHELLE KINMAN SR VICE PRESIDENT, MARKET 40.00
Highest
$175,728 $26,694 $202,422
ESTELLE REYES SR VICE PRESIDENT, ENHANCING COMM. 40.00
Highest
$179,886 $17,449 $197,335
SASHA ITZIKMAN VICE PRESIDENT, MARKETING 40.00
Highest
$184,553 $7,662 $192,215
JILLIAN MISRACK VICE PRESIDENT, DEVELOPMENT 40.00
Highest
$161,612 $18,498 $180,110
MICHAEL SWORDS VICE PRESIDENT, GOVERNMENT AFFAIRS 40.00
Highest
$153,326 $127 $153,453
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $26,341,807 $17,769,053 $22,248,258 $8,572,754
2022 $21,575,491 $14,365,079 $14,047,232 $7,210,412
2021 $10,413,540 $9,215,118 $5,220,683 $1,198,422
2020 $8,340,208 $9,430,096 $4,675,991 $-1,089,888
2019 $10,299,925 $8,322,134 $5,409,805 $1,977,791
2018 $8,578,212 $7,944,829 $3,535,849 $633,383
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