2016-11-15T12:10:03-06:00 2016-06-30 330700332 VASQUEZ & COMPANY LLP 801 S GRAND AVE SUITE 400 LOS ANGELES CA 90017 990 2015-07-01 953643339 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY ECON 2132364826 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 SUSAN STEL CHIEF FINANCIAL OFFICER 2132364826 2016-11-14 1 GILBERT R VASQUEZ P00743144 2138731700 2015 2017-02-10 21:41:12Z SUSAN STEL 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGLES CA 90071 7205037 0 X WWW.LAEDC.ORG X 1981 CA THE FUNCTION OF THE CORPORATION SHALL BE TO EASE THE BURDENS OF GOVERNMENT BY ASSISTING, IMPLEMENTING, SUPPORTING AND/OR CONTRIBUTING TO THE SUPPORT OF PROGRAMS, PROJECTS AND ACTIVITIES OF A PUBLIC NATURE , WHICH ARE DIRECTED TOWARD IMPROVING ECONOMIC CONDITIONS THROUGH OUT LOS ANGELES COUNTY. 74 73 0 0 0 0 4195789 4610956 1435078 1398540 368019 328057 594809 867484 6593695 7205037 0 0 0 0 4240373 4298094 0 0 358877 2893232 3296431 7133605 7594525 -539910 -389488 28326427 27150432 2030967 2143405 26295460 25007027 X THE FUNCTION OF THE CORPORATION SHALL BE TO EASE THE BURDENS OF GOVERNMENT BY ASSISTING, IMPLEMENTING, SUPPORTING AND/OR CONTRIBUTING TO THE SUPPORT OF PROGRAMS, PROJECTS AND ACTIVITIES OF A PUBLIC NATURE, WHICH ARE DIRECTED TOWARD IMPROVING ECONOMIC CONDITIONS THROUGHOUT LOS ANGELES COUNTY. 0 0 6330710 THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF BUSINESS AND JOBS THROUGHOUT LOS ANGELES COUNTY, AND EDUCATING THE PUBLIC THROUGH ECONOMIC RESEARCH, ANALYSIS AND OTHERWISE. BY SERVING AS A VEHICLE TO FACILITATE COOPERATION BETWEEN THE PUBLIC AND PRIVATE SECTOR, THE CORPORATION WILL COALESCE LOCAL, STATE AND FEDERAL RESOURCES TO INCREASE PRIVATE INVESTMENT, PARTICULARLY IN THE ECONOMICALLY DISTRESSED AREAS OF SAID COUNTY. 6330710 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 29 0 1 0 0 0 0 0 0 0 0 0 0 0 X 74 73 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X SUSAN D STEL 2132364826 444 S FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 DAVID ABEL EX-OFFICIO 1.00 X 0 0 0 RAUL ANAYA DIRECTOR 1.00 X 0 0 0 J JEFFREY ASSAF DIRECTOR 1.00 X 0 0 0 ROD BANKS DIRECTOR 1.00 X 0 0 0 ARUN BOHRA DIRECTOR 1.00 X 0 0 0 JANICE BRYANT HOWROYD EX-OFFICIO 1.00 X 0 0 0 ROBERT BUSH DIRECTOR 1.00 X 0 0 0 DALE BONNER DIRECTOR 1.00 X 0 0 0 CHRISTOPHER CAREY DIRECTOR 1.00 X 0 0 0 BRUCE CHOATE DIRECTOR 1.00 X 0 0 0 CATHERINE REHEIS-BOYD DIRECTOR 1.00 X 0 0 0 DAVID E WRIGHT DIRECTOR 1.00 X 0 0 0 GEORGE DEUKMEJIAN DIRECTOR 1.00 X 0 0 0 DEBORAH CHAN DIRECTOR 1.00 X 0 0 0 NORAIR JEMJEMIAN DIRECTOR 1.00 X 0 0 0 DIANNE HARRISON DIRECTOR 1.00 X 0 0 0 DAVID FLEMING DIRECTOR 1.00 X 0 0 0 RAYMOND HOLDSWORTH DIRECTOR 1.00 X 0 0 0 MARY BORG DIRECTOR 1.00 X 0 0 0 KEN CHAWKINS DIRECTOR 1.00 X 0 0 0 MATT TOLEDO DIRECTOR 1.00 X 0 0 0 JAMES HANKLA EX-OFFICIO 1.00 X 0 0 0 CALVIN HOLLIS DIRECTOR 1.00 X 0 0 0 JEANNIE DELAURA DIRECTOR 1.00 X 0 0 0 LEWIS HORNE DIRECTOR 1.00 X 0 0 0 JOSE GOMEZ DIRECTOR 1.00 X 0 0 0 KEVIN DOW DIRECTOR 1.00 X 0 0 0 MIKE DONNELLY DIRECTOR 1.00 X 0 0 0 MICHAEL WOO DIRECTOR 1.00 X 0 0 0 GAIL FARBER DIRECTOR 1.00 X 0 0 0 PRAFUL KULKARNI AIA CHAIRMAN 1.00 X X 0 0 0 DEANE LEAVENWORTH DIRECTOR 1.00 X 0 0 0 DEBORAH FLINT DIRECTOR 1.00 X 0 0 0 MAURA O'CONNOR DIRECTOR 1.00 X 0 0 0 ANDREW FOGG DIRECTOR 1.00 X 0 0 0 ERIC ROWEN DIRECTOR 1.00 X 0 0 0 THOMAS SAYLES DIRECTOR 1.00 X 0 0 0 STEVEN SLOAN DIRECTOR 1.00 X 0 0 0 TOM WINGARD DIRECTOR 1.00 X 0 0 0 MARK SOGOMIAN DIRECTOR 1.00 X 0 0 0 ROD SPACKMAN DIRECTOR 1.00 X 0 0 0 STEVEN CENTER DIRECTOR 1.00 X 0 0 0 NOEL HACEGABA DIRECTOR 1.00 X 0 0 0 THOMAS PRISELAC DIRECTOR 1.00 X 0 0 0 TOM CONLEY DIRECTOR 1.00 X 0 0 0 WILLIE HAGAN DIRECTOR 1.00 X 0 0 0 JEFF KIGHTLINGER DIRECTOR 1.00 X 0 0 0 KARL BRIER DIRECTOR 1.00 X 0 0 0 JANE CONOLEY PHD DIRECTOR 1.00 X 0 0 0 ROBERTA CONROY EX-OFFICIO 1.00 X 0 0 0 KENNETH CREBAR DIRECTOR 1.00 X 0 0 0 STEVEN DAI DIRECTOR 1.00 X 0 0 0 DONNA ESTACIO DIRECTOR 1.00 X 0 0 0 STEVE GREIG DIRECTOR 1.00 X 0 0 0 SACHI HAMAI DIRECTOR 1.00 X 0 0 0 JODIE LESH DIRECTOR 1.00 X 0 0 0 CHRISTOPHER MARTIN FAIA VICE CHAIRMAN 1.00 X X 0 0 0 DAVID MEYER DIRECTOR 1.00 X 0 0 0 STEVE NISSEN DIRECTOR 1.00 X 0 0 0 WAYNE SMUTZ DIRECTOR 1.00 X 0 0 0 NANCY SUTLEY DIRECTOR 1.00 X 0 0 0 CHUCK SWAN DIRECTOR 1.00 X 0 0 0 COURTNEY CHESLA TORRES DIRECTOR 1.00 X 0 0 0 TOM VANDIVER DIRECTOR 1.00 X 0 0 0 ANDREW KUGLER DIRECTOR 1.00 X 0 0 0 WILLIE ZUNIGA DIRECTOR 1.00 X 0 0 0 WILLIAM C ALLEN CEO 60.00 X X 480000 0 15750 GUY MEHULA DIRECTOR 1.00 X 0 0 0 DAVID NAZARIAN DIRECTOR 1.00 X 0 0 0 ROSE NORDBROCK DIRECTOR 1.00 X 0 0 0 CAREN ROSEMAN DIRECTOR 1.00 X 0 0 0 BRISSA SOTELO-VARGAS DIRECTOR 1.00 X 0 0 0 RICHARD VERCHES DIRECTOR 1.00 X 0 0 0 GOETZ WOLFF DIRECTOR 1.00 X 0 0 0 ERIC ZABINSKI DIRECTOR 1.00 X 0 0 0 SUSAN D STEL EXECUTIVE VICE PRES./CFO 50.00 X 222917 0 13262 DAVID FLAKS PRESIDENT/CHIEF OPERATING OFFICER 40.00 X 234583 0 13612 ROBERT KLEINHENZ CHIEF ECONOMIST 40.00 X 224583 0 13313 COOPER CHRISTINE SVP ECONOMIC POLICY ANALYST 40.00 X 168000 0 9493 CARRIE ROGERS VP BUS ASST & DEVELOPMENT 40.00 X 190625 0 11215 ELSA FLORES VP STRATEGIC RELATIONS 40.00 X 115466 0 7024 BARBARA LEVINE SENIOR REGIONAL MANAGER 40.00 X 116375 0 7058 1752549 0 90727 8 0 1 0 SOUTHERN CALIFORNIA GROUP 201 N HARBOR BLVD STE 205 FULLERTON CA 92832 CONSULTING 173333 1 1205000 2337854 1068102 4610956 SPONSORED EVENTS 900099 785916 785916 CONSULTING 900099 612624 612624 1398540 328057 328057 REALIZED GAIN ON INVES 900099 781597 781597 OTHER INCOME 900099 85887 85887 867484 7205037 2266024 0 328057 X 1752549 1752549 1784666 635868 991048 157750 161141 109758 42035 9348 356474 247043 85044 24387 243264 177660 52296 13308 1812908 1496780 292237 23891 82310 82310 38691 18727 16330 3634 467405 467405 49305 41719 936 6650 532521 504007 1195 27319 54204 13037 38971 2196 35851 35851 TELEPHONE AND FAXES 57155 26045 29153 1957 STORAGE, TAXES, INT. MI 48958 20844 15731 12383 DUES AND SUBSCRIPTIONS 43071 21197 18802 3072 PARKING EXPENSE 32046 22292 4631 5123 42006 1160874 -1186727 67859 7594525 6330710 904938 358877 137217 174181 746742 2128175 1281654 1260795 157416 196765 451164 262099 227397 189065 25539455 22822926 236546 378525 28326427 27150432 2023967 1886405 7000 257000 2030967 2143405 X 25981460 24677027 314000 330000 26295460 25007027 28326427 27150432 X -389488 -898942 -3 X 0 1 X 1 1 1 X 3585578 2776182 3087458 4195789 4610956 18255963 3585578 2776182 3087458 4195789 4610956 18255963 21556 18234407 110718 44919 275868 368019 328057 1127581 495394 320003 360990 594809 867484 2638680 22022224 7127472 0.82800 0.84750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 64037 24151 39886 387127 237948 149179 189065 NON PUBLICLY TRADED INVESTMENTS 11109000 F PUBLICLY TRADED INVESTMENT 11713926 F 22822926 X 7035105 -898942 729010 -169932 7205037 0 7205037 8471874 877349 877349 7594525 0 7594525 PART X, LINE 2: THE CORPORATION QUALIFIES AS A TAX EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE 23701D. THE CORPORATION HAS EVALUATED ITS TAX POSITIONS AND THE CERTAINTY AS TO WHETHER THOSE POSITIONS WILL BE SUSTAINED IN THE EVENT OF AN AUDIT BY TAXING AUTHORITIES AT THE FEDERAL AND STATE LEVELS. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS WILL MORE LIKELY THAN NOT (>50%) BE SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURE OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. THE CORPORATION FILES INFORMATION RETURNS IN THE US FEDERAL JURISDICTION AND THE STATE OF CALIFORNIA. WITH FEW EXCEPTIONS, THE CORPORATION IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE REVENUE FOR AFFILIATES 729,010. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROGRAM SERVICE EXPENSES FOR AFFILIATES 877,349. X X X X X X 0 0 0 0 0 0 0 1 0 WILLIAM C ALLEN CEO 360000 0 120000 0 0 0 15750 0 0 0 495750 0 0 0 SUSAN D STEL EXECUTIVE VICE PRES./CFO 202917 0 20000 0 0 0 13262 0 0 0 236179 0 0 0 DAVID FLAKS PRESIDENT/CHIEF OPERATING OFFICER 214583 0 20000 0 0 0 13612 0 0 0 248195 0 0 0 ROBERT KLEINHENZ CHIEF ECONOMIST 204583 0 20000 0 0 0 13313 0 0 0 237896 0 0 0 COOPER CHRISTINE SVP ECONOMIC POLICY ANALYST 148000 0 20000 0 0 0 9493 0 0 0 177493 0 0 0 CARRIE ROGERS VP BUS ASST & DEVELOPMENT 165625 0 25000 0 0 0 11215 0 0 0 201840 0 0 0 PART I, LINE 7 EXPLANATION: BONUSES FORM 990, PART VI, SECTION B, LINE 11 ECONOMIC DEVELOPMENT CORPORATION ("EDC") OUTSIDE AUDITORS AND FINANCE STAFF PREPARE THE FORM 990. THE FORM IS THEN REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. THE FORM IS THEN MADE AVAILABLE TO THE FULL BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ECONOMIC DEVELOPMENT CORPORATION REQUIRES THAT A BOARD MEMBER OFFICER OR EMPLOYEE SHALL NOT HAVE UNDISCLOSED FINANCIAL INTERESTS THAT CONFLICT OR APPEAR TO CONFLICT WITH HIS OR HER RESPONSIBILITIES WITH ECONOMIC DEVELOPMENT CORPORATION. ECONOMIC DEVELOPMENT CORPORATION REQUIRES DISCLOSURE OF ALL SOURCES OF INCOME FROM COMPENSATION OR FROM OWNERSHIP OF EVERY OUTSIDE ENTITY THAT (A) SOLD, SUPPLIED OR PROVIDED SERVICES, (B) OPERATED A COMPETING ENTERPRISE, OR(C) PROVIDED GOODS OR SERVICES TO EDC IN THE LAST SIX MONTHS. EDC'S CEO EVALUATES THE FORMS FOR POTENTIAL CONFLICTS OF INTEREST. EDC ALSO REQUIRES ALL DIRECTORS TO ANNUALLY SIGN A STATEMENT AFFIRMING (A) RECEIPT OF EDC'S CONFLICT OF INTEREST POLICY, (B) UNDERSTANDING OF THE POLICY , AND (C) AGREEMENT WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWED EDC PRESIDENT'S, CFO'S AND COO'S COMPENSATION . THE BOARD REVIEWED DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES. THE OCCURENCE OF THESE DELIBERATIONS ARE NOTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 SOME OR ALL THESE ITEMS MAYBE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 1,070,443. MANAGEMENT AND GENERAL EXPENSES 127,790. FUNDRAISING EXPENSES 23,891. TOTAL EXPENSES 1,222,124. LEGAL & AUDIT FEE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 164,447. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 164,447. CONSULTANT: PROGRAM SERVICE EXPENSES 426,337. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 426,337. FORM 990, PART XI, LINE 9: ROUNDING DIFFERENCE -3. CALIFORNIA INDUSTRY EDUCATION INSTITUTE 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 954482044 DEVELOPING PROGRAMS WITH CA COLLEGES TO ASSIST THE GROWTH OF JOBS IN LA CNTY CA 501 C 3 PUBLIC CHARITY ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 0 EDC PRODUCT DEVELOPMENT FUND INC 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 954482158 EASE THE BURDENS OF GOVERNMENT BY ASSISTING ACTIVITIES OF A PUBLIC NATURE CA 501 C 3 PUBLIC CHARITY ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 0 WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 330190964 PROMOTE INTERNATIONAL TRADE CA 501 C 3 PUBLIC CHARITY ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 0 DEL AIRE TITLE HOLDING CORPORATION 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 954134926 TO HOLD TITLE TO REAL PROPERTY DE 501 C 2 PUBLIC CHARITY ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH M 400000 BOOK