Economic Development Corporation

Unknown organization based in Los Angeles, CA. 35 employees. Exempt under §501(c)(3).

MissionTHE 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

EIN
95-3643339
State
CA
Sector
Unknown
Budget band
$5M–$10M
Latest filing
TY 2023
Records
10 officers · 5 years

Financial snapshot · TY 2023

$9.0M
Total revenue
$8.5M
Total expenses
$34.4M
Net assets

Financial health · TY 2023

96
Strong financial health
Composite score out of 100 based on reserve ratio, program efficiency, and revenue diversification.
Reserve ratio
100
39.6 months of expenses
Program efficiency
94
87.5% spent on programs
Revenue diversity
91
Mix of program fees, grants & contributions

Leadership compensation

Stephen Cheung
PRESIDENT AND CEO
$435,192
Kendal R Turner
EXECUTIVE VICE PRES./CFO
$298,877
Melissa Khamvongsa
VICE PRESIDENT STRATEGIC RELATIONS
$264,773
Shannon Sedgwick
DIR. INSTITUTE OF APPLIED ECONOMICS
$195,977
Jermaine Hampton
VICE PRESIDENT WORKFORCE DEVELOPMENT & SPECIAL PR
$192,820

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Economic Development Corporation Executive Compensation | 990 Data | DoubleNine