ENCINO, CA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)VALLEY ECONOMIC DEVELOPMENT CENTER INC, founded in 1976, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2019. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $5.3M exceeded revenue, resulting in a 120% operating deficit.
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.
VEDC SMALL BUSINESS LOANS PROGRAMS: VEDC IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND PROVIDED ACCESS TO CAPITAL FOR CREATING AND/OR SUSTAINING JOBS VIA MAKING SMALL BUSINESS...
VEDC SMALL BUSINESS LOANS PROGRAMS: VEDC IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND PROVIDED 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 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 FILING BANKRUPTCY ON JULY 2, 2019 VEDC DISCONTINUED PROVIDING SMALL BUSINESS LOANS TO ITS CONSTITUTENTS UNDER THE SMALL BUSINESS LOAN/PROGRAMS.
VEDC 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...
VEDC 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.
VEDC TECHNICAL ASSISTANCE PROGRAMS: VEDC PROVIDED TECHNICAL ASSISTANCE CONSULTING AND TRAINING PROGRAMS PRIMARILY TO MINORITY AND/OR WOMEN OWNED SMALL BUSINESS ENTREPRENEURS AND/OR SMALL BUSINESS...
VEDC TECHNICAL ASSISTANCE PROGRAMS: VEDC PROVIDED 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.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2019 | 2018 | Change | |
|---|---|---|---|
| Revenue | $2,413,075 | $4,595,194 | -0.5% |
| Expenses | $5,310,363 | $13,061,289 | -0.6% |
| Net Income | $-2,897,288 | $-8,466,095 | -0.7% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| NISHEN RADIA | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| DUTCH ROSS | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| SCOTT ANEY | CHAIRMAN | 4.00 |
Officer
Director
|
$0 | $0 | $0 |
| ARIEL BERRIOS | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| PEGI MATSUDA | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| RON MERAZ | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| MANUEL ROSALES | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| LEANDRO TYBERG | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| SHALA TAVAKOLI | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| ANITA WOLMAN | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| RAY VASQUEZ | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| JOHN MARQUIS | BOARD MEMBER EMERITUS | 4.00 |
Director
|
$0 | $0 | $0 |
| WALT MOSHER | BOARD MEMBER EMERITUS | 4.00 |
Director
|
$0 | $0 | $0 |
| ROBERT J DENNEN | CHIEF FINANCIAL OFFICER | 40.00 |
Officer
|
$193,393 | $8,195 | $201,588 |
| EDWARD ARNOLD | COMPLIANCE DIRECTOR | 40.00 |
Highest
|
$121,684 | $0 | $121,684 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2020 | $2,413,075 | $5,310,363 | $31,203,996 | $-2,897,288 |
| 2020 | $13,840,242 | $447,460 | No data | $13,392,782 |
| 2019 | $4,595,194 | $13,061,289 | $41,149,591 | $-8,466,095 |
| 2018 | $8,809,589 | $11,741,822 | $58,174,995 | $-2,932,233 |
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