ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY

EIN: 953643339 501(c)(3)

LOS ANGELES, CA

Total Revenue
$9,176,161
Total Expenses
$9,994,572
Total Assets
$35,302,763
Net Assets
$29,155,730
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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
CA
Principal Officer
KENDAL TURNER
Phone
2132364826
Tax Period
2024-07-01 to 2025-06-30

ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY, founded in 1981, is a community nonprofit that reported $9.2M in total revenue in fiscal year 2024. Net assets of $29.2M represent 38 months of operating reserves.

Mission

THE LAEDC'S PRINCIPAL OBJECTIVE IS TO COLLECTIVELY ADVANCE ECONOMIC OPPORTUNITY AND PROSPERITY AND RAISE STANDARDS OF LIVING FOR ALL LOS ANGELES (LA) COUNTY RESIDENTS THROUGH PROGRAMS, PROJECTS AND ACTIVITIES OF A PUBLIC NATURE. AS LA'S ONLY COUNTYWIDE ECONOMIC DEVELOPMENT ORGANIZATION, THE LAEDC PROVIDES COLLABORATIVE, INNOVATIVE, AND STRATEGIC ECONOMIC DEVELOPMENT LEADERSHIP TO PROMOTE A MORE ROBUST, EQUITABLE, SUSTAINABLE, AND RESILIENT LA COUNTY ECONOMY TO IMPROVE THE HEALTH AND WELLBEING OF THE REGION'S RESIDENTS AND COMMUNITIES AND ENABLE THOSE RESIDENTS TO MEET THEIR BASIC HUMAN NEED FOR A JOB. LAEDC ACHIEVES THIS THROUGH OBJECTIVE ECONOMIC RESEARCH AND ANALYSIS; PROGRAMMATIC AND ON-THE-GROUND TECHNICAL AND TRANSACTIONAL ASSISTANCE TO BUSINESS, GOVERNMENT, EDUCATION, AND WORKFORCE DEVELOPMENT SYSTEMS; AND TARGETED PUBLIC POLICY AND ISSUE ADVOCACY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,652,467
Program Service Revenue $3,494,136
Investment Income $949,050
Other Revenue $80,508
TOTAL REVENUE $9,176,161

Expense Breakdown

Grants Paid $0
Salaries & Benefits $6,001,549
Fundraising Expenses $574,132
Program Expenses $8,877,242
Other Expenses $3,993,023
TOTAL EXPENSES $9,994,572

Year-over-Year Comparison

2024 2023 Change
Revenue $9,176,161 $9,039,405 +0.0%
Expenses $9,994,572 $8,528,500 +0.2%
Net Income $-818,411 $510,905 -2.6%
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
90
Independent Members
90
Employees
37
Volunteers
93

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
$704,042
Total Directors
96
$0
Key Employees
3
$594,879
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM BURKE DIRECTOR 1.00
Director
$0 $0 $0
ANGELA YIM-SULLIVAN DIRECTOR 1.00
Director
$0 $0 $0
BARBARA JONES DIRECTOR 1.00
Director
$0 $0 $0
BILL DACUNTO DIRECTOR 1.00
Director
$0 $0 $0
BRENNON CRIST DIRECTOR 1.00
Director
$0 $0 $0
BRETT HOWROYD DIRECTOR 1.00
Director
$0 $0 $0
BRYAN LEROY DIRECTOR 1.00
Director
$0 $0 $0
BRYAN SARKOSAS DIRECTOR 1.00
Director
$0 $0 $0
BRYAN SCHWEICKERT DIRECTOR 1.00
Director
$0 $0 $0
CARISSA SMITH DIRECTOR 1.00
Director
$0 $0 $0
DANIEL TIMMONS DIRECTOR 1.00
Director
$0 $0 $0
DAVID ABEL DIRECTOR 1.00
Director
$0 $0 $0
DAVID FOLEY DIRECTOR 1.00
Director
$0 $0 $0
DAVID HILL DIRECTOR 1.00
Director
$0 $0 $0
DAVID TUCKER DIRECTOR 1.00
Director
$0 $0 $0
DIANA BOYADJIAN DIRECTOR 1.00
Director
$0 $0 $0
DR NARINEH MAKIJIAN DIRECTOR 1.00
Director
$0 $0 $0
DR NOEL HACEGABA DIRECTOR 1.00
Director
$0 $0 $0
EFFIE TURNBULL SANDERS DIRECTOR 1.00
Director
$0 $0 $0
EFRAIN ESCOBEDO CO-CHAIR 1.00
Officer Director
$0 $0 $0
ERIC BULLARD DIRECTOR 1.00
Director
$0 $0 $0
ERIKA BECK DIRECTOR 1.00
Director
$0 $0 $0
FESIA DAVENPORT DIRECTOR 1.00
Director
$0 $0 $0
FRANCES TEVES DIRECTOR 1.00
Director
$0 $0 $0
GENE HALE DIRECTOR 1.00
Director
$0 $0 $0
GERARD OROZCO DIRECTOR 1.00
Director
$0 $0 $0
HALE BEHZADI DIRECTOR 1.00
Director
$0 $0 $0
JANE CONOLEY DIRECTOR 1.00
Director
$0 $0 $0
JEFF WILSON DIRECTOR 1.00
Director
$0 $0 $0
JEFFREY R JENNISON DIRECTOR 1.00
Director
$0 $0 $0
JODIE LESH DIRECTOR 1.00
Director
$0 $0 $0
JOHN ACKERMAN DIRECTOR 1.00
Director
$0 $0 $0
JOHN LOFTUS DIRECTOR 1.00
Director
$0 $0 $0
JOSE GOMEZ DIRECTOR 1.00
Director
$0 $0 $0
KATHLEEN RAWSON DIRECTOR 1.00
Director
$0 $0 $0
KELLY LOBIANCO DIRECTOR 1.00
Director
$0 $0 $0
LAURIE SEWELL CO-CHAIR 1.00
Officer Director
$0 $0 $0
LES MCCABE DIRECTOR 1.00
Director
$0 $0 $0
LILLY ROCHA DIRECTOR 1.00
Director
$0 $0 $0
MARK PESTRELLA DIRECTOR 1.00
Director
$0 $0 $0
MARK SOGOMIAN DIRECTOR 1.00
Director
$0 $0 $0
MAURA O'CONNOR DIRECTOR 1.00
Director
$0 $0 $0
MINAL MONDKAR DIRECTOR 1.00
Director
$0 $0 $0
MONICA BANKEN DIRECTOR 1.00
Director
$0 $0 $0
PATRICK MCCLENAHAN DIRECTOR 1.00
Director
$0 $0 $0
PRAFUL KULKARNI DIRECTOR 1.00
Director
$0 $0 $0
RON FRIERSON CHAIRPERSON 1.00
Officer Director
$0 $0 $0
SANTIAGO MUNOZ DIRECTOR 1.00
Director
$0 $0 $0
SCHENAE ROURK DIRECTOR 1.00
Director
$0 $0 $0
STEVEN NISSEN DIRECTOR 1.00
Director
$0 $0 $0
THOMAS PARHAM DIRECTOR 1.00
Director
$0 $0 $0
TOM VANDIVER DIRECTOR 1.00
Director
$0 $0 $0
TRAVIS KIYOTA DIRECTOR 1.00
Director
$0 $0 $0
YVETTE ESTRADA DIRECTOR 1.00
Director
$0 $0 $0
ZACK SOKOLOFF DIRECTOR 1.00
Director
$0 $0 $0
ZANKU AMERNIAN DIRECTOR 1.00
Director
$0 $0 $0
JANE NAVARRIA DIRECTOR 1.00
Director
$0 $0 $0
HANS GETTY DIRECTOR 1.00
Director
$0 $0 $0
ADAM LANE DIRECTOR 1.00
Director
$0 $0 $0
DR PETER SLAVIN DIRECTOR 1.00
Director
$0 $0 $0
GREG SKALASKI DIRECTOR 1.00
Director
$0 $0 $0
STEVE HENNESSEY DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER POULAKIDAS DIRECTOR 1.00
Director
$0 $0 $0
JAMES LIMBAUGH DIRECTOR 1.00
Director
$0 $0 $0
DENNIS HUANG DIRECTOR 1.00
Director
$0 $0 $0
ANDY PEREZ DIRECTOR 1.00
Director
$0 $0 $0
JOSE GARDEA DIRECTOR 1.00
Director
$0 $0 $0
ERIC ROWEN DIRECTOR 1.00
Director
$0 $0 $0
SARAH HARRIS DIRECTOR 1.00
Director
$0 $0 $0
BRANDY HAN DIRECTOR 1.00
Director
$0 $0 $0
YESENIA MONSOUR DIRECTOR 1.00
Director
$0 $0 $0
DR KEITH CURRY DIRECTOR 1.00
Director
$0 $0 $0
CONRADO AYALA DIRECTOR 1.00
Director
$0 $0 $0
KASH HUSSAIN DIRECTOR 1.00
Director
$0 $0 $0
JESSICA GODINEZ DIRECTOR 1.00
Director
$0 $0 $0
KELLIE TODD GRIFFIN DIRECTOR 1.00
Director
$0 $0 $0
JARED YOSHIKI DIRECTOR 1.00
Director
$0 $0 $0
JACQUES NACK DIRECTOR 1.00
Director
$0 $0 $0
JILL KURTH DIRECTOR 1.00
Director
$0 $0 $0
DAVID HILLS DIRECTOR 1.00
Director
$0 $0 $0
DEB VRANA DIRECTOR 1.00
Director
$0 $0 $0
KYLE BROWN DIRECTOR 1.00
Director
$0 $0 $0
LILIT ZIBARI DIRECTOR 1.00
Director
$0 $0 $0
KAREN SESSIONS DIRECTOR UNTIL 07/2025 1.00
Director
$0 $0 $0
ELLIE CASSON DIRECTOR UNTIL 06/2025 1.00
Director
$0 $0 $0
GENE BLOCK DIRECTOR 1.00
Director
$0 $0 $0
GOETZ WOLFF DIRECTOR 1.00
Director
$0 $0 $0
JAYME S WILSON DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH VILLELA DIRECTOR UNTIL 06/2025 1.00
Director
$0 $0 $0
ROSE NORDBROCK DIRECTOR UNTIL 05/2025 1.00
Director
$0 $0 $0
ARTHUR BILGER DIRECTOR 1.00
Director
$0 $0 $0
CATHERINE REHEIS-BOYD DIRECTOR UNTIL 06/2026 1.00
Director
$0 $0 $0
DAVID FLEMING DIRECTOR 1.00
Director
$0 $0 $0
SPENCER SMITH DIRECTOR UNTIL 12/2024 1.00
Director
$0 $0 $0
THOMAS WINGARD DIRECTOR 1.00
Director
$0 $0 $0
DANIEL LEDGER DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN CHEUNG PRESIDENT AND CEO 40.00
Officer
$401,374 $24,780 $426,154
KENDAL R TURNER EXECUTIVE VICE PRES./CFO 40.00
Officer
$256,969 $20,919 $277,888
JERMAINE HAMPTON VP WORKFORCE DEV'T & SPECIAL PROJECTS 50.00
Key Emp
$211,685 $10,167 $221,852
SHANNON SEDGWICK SR. DIR. FOR INSTITUTE OF APPLIED ECONOMICS 50.00
Key Emp
$173,281 $11,043 $184,324
ALISON CLARK VP BUS. ASSISTANCE & INT'L TRADE 30.00
Key Emp
$182,812 $5,891 $188,703
LINDEN JOHNSON SR. DIR. BUS. ASSIST. PROGRAM 40.00
Highest
$144,177 $6,675 $150,852
WILLIAM POWLES SR. DIR. INTERNATIONAL TRADE 0.00
Highest
$149,284 $7,288 $156,572
SONIA ESTRADA SR. DIR. ACCOUNTING & ADMINISTRATION 40.00
Highest
$138,422 $13,517 $151,939
BARBARA LEVIN SR. DIR. OF STRATEGIC PARTNERSHIP 40.00
Highest
$132,810 $9,995 $142,805
CHARLES JOHNSON DIR. INDUSTRY CLUSTER DEVELOPMENT 40.00
Highest
$138,544 $9,030 $147,574
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
2025 $9,176,161 $9,994,572 $35,302,763 $-818,411
2024 $9,039,405 $8,528,500 $34,353,930 $510,905
2023 $5,828,748 $7,869,790 $33,343,547 $-2,041,042
2022 $9,374,870 $9,087,793 $29,436,314 $287,077
2021 $9,257,630 $7,687,969 $33,754,787 $1,569,661
2020 $7,272,420 $7,364,800 $26,830,244 $-92,380
2019 $7,363,304 $7,936,555 $26,714,670 $-573,251
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