Santa Clarita Valley Economic Development Corporation
- Assets
- $937.0k
- Revenue
- $960.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Santa Clarita, CA
- Founding
- 12/2009
- Data as of
- 12/2021
- EIN
- 27-0385918
Organization Overview
Santa Clarita Valley Economic Development Corporation is located in Santa Clarita, CA. The organization was established in 2009. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Santa Clarita Valley Economic Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Santa Clarita Valley Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Santa Clarita Valley Economic Development Corporation generated $960.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $909.5k during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE CREATION OF HIGH PAYING JOBS FOR OUR TRAINED WORKFORCE AND RAISE THE PROFILE OF THE SANTA CLARITA VALLEY THROUGH BUSINESS RETENTION, BUSINESS ATTRACTION, MARKETING, AND DATA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF BUSINESS DEVELOPMENT SERVICES TO COMPANIES WITHIN THE SANTA CLARITA VALLEY TO SUPPORT THEIR GROWTH AND EXPANSION EFFORTS WITH BUSINESS SERVICES SUCH AS: 1) BUSINESS ASSISTANCE VISITS, 2) INFORMATION ABOUT BUSINESS INCENTIVES AND OTHER RESOURCES, 3) SUPPORTING THE FOREIGN TRADE ZONE, 4) EDUCATION AND NETWORKING EVENTS, 5) MARKETING AND COMMUNICATION TO RAISE AWARENESS OF AVAILABLE BUSINESS SERVICES AND PROMOTING INTERSHIPS & TRAINING PROGRAMS.
PROVISION OF BUSINESS ATTRACTION SERVICES INCLUDE BUT ARE NOT LIMITED TO:1) PROVIDING SITE SELECTION SERVICES, 2) MARKETING THE COMMUNITY AS A DESIRABLE PLACE TO DO BUSINESS, 3) RECRUITMENT OF COMPANIES FROM SOUTHERN CALIFORNIA AND BEYOND, 4) CONDUCTING REGIONAL EVENTS AND WORKSHOPS, 5) PREPARING LOCATIONAL COMPARISONS AND RESPONDING TO INQUIRIES ABOUT AVAILABLE PROPERTIES.
PROVISION OF REGIONAL ECONOMIC INFORMATION AND RESEARCH. EXAMPLES INCLUDE, BUT ARE NOT LIMITED TO: 1) PUBLISHING ECONOMIC INDICATORS AND DATA, 2) ORGANIZING AN ECONOMIC DEVELOPMENT INFORMATION CENTER, 3) MAINTAINING A TARGET INDUSTRY ANALYSIS, 4) PUBLISHING LABOR MARKET RESEARCH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly Schroeder President | Officer | 40 | $178,000 |
Calvin Hedman Co-Chairman Of The Board/c | OfficerTrustee | 6 | $0 |
Dianne Van Hook Secretary | OfficerTrustee | 3 | $0 |
Don Fleming Director | OfficerTrustee | 3 | $0 |
John Shaffery Director | OfficerTrustee | 3 | $0 |
Donald L Kimball Director | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $400,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $420,470 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $820,470 |
| Total Program Service Revenue | $140,061 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $960,531 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $178,000 |
| Compensation of current officers, directors, key employees. | $59,333 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $209,555 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $80,442 |
| Payroll taxes | $29,376 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $199,111 |
| Advertising and promotion | $0 |
| Office expenses | $11,233 |
| Information technology | $138 |
| Royalties | $0 |
| Occupancy | $21,204 |
| Travel | $4,970 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,062 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33 |
| Insurance | $7,470 |
| All other expenses | $15,979 |
| Total functional expenses | $909,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $865,096 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,952 |
| Total assets | $937,048 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $153,328 |
| Total liabilities | $153,328 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $783,720 |
| Total liabilities and net assets/fund balances | $937,048 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Santa Clarita Valley Economic Development Corporation has recieved totaling $28,600.
| Awarding Organization | Amount |
|---|---|
Henry Mayo Newhall Memorial Hospital Valencia, CA PURPOSE: 2019 ANNUAL INVESTOR CONTRIBUTION & ECONOMIC OUTLOOK SPONSORSHIP | $28,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |