San Diego Regional Economic Development Foundation
- Assets
- $2.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 3
- Location
- San Diego, CA
- Founding
- 03/2002
- Data as of
- 06/2021
- EIN
- 33-0992658
Organization Overview
San Diego Regional Economic Development Foundation is located in San Diego, CA. The organization was established in 2002. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, San Diego Regional Economic Development Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Diego Regional Economic Development Foundation 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 06/2021, San Diego Regional Economic Development Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. While expenses have increased by 15.2% per year over the past 6 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
THE SAN DIEGO REGIONAL ECONOMIC DEVELOPMENT FOUNDATION'S MISSION IS TO SUPPORT AND CULTIVATE SUSTAINABLE EMPLOYMENT OPPORTUNITIES FOR SAN DIEGO COUNTY RESIDENTS CONTRIBUTING TO A PROSPEROUS LOCAL ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION CREATED THIS PROGRAM AS A COLLABORATIVE EFFORT TO BETTER PREPARE SAN DIEGANS FOR QUALITYJOBS VIA LOCALLY SERVING EDUCATION INSTITUTIONS AND EXPAND ACCESS TO DIVERSE, QUALIFIED TALENT FOR SAN DIEGOCOMPANIES. ADVANCING SAN DIEGO IS HELPING THE REGION MEET ITS INCLUSIVE GROWTH GOALS BY STRENGTHENINGRELATIONSHIPS BETWEEN LOCAL INDUSTRY AND EDUCATION SYSTEMS. BETTER ALIGNMENT BETWEEN THESE SYSTEMS WILLMEAN THAT THE REGION CAN COLLECTIVELY PREPARE SAN DIEGANS FOR HIGH-DEMAND JOBS, AND LOCAL EMPLOYERS MANY OF WHICH ARE SMALL COMPANIES CAN ESTABLISH OR EXPAND RECRUITMENT RELATIONSHIPS WITH LOCALLYSERVINGINSTITUTIONS.
THE FOUNDATION SUPPORTS PROGRAMS AND INITIATIVES WHICH IMPACT THE REGION'S ABILITY TO SUSTAIN JOB GROWTHFOR RESIDENTS IN HIGH-DEMAND JOBS. PROJECTS INCLUDING, OVERSEEING RESEARCH PROJECTS THAT IDENTIFY AREAS FORPOTENTIAL JOB GROWTH AND IDENTIFY RISK FACTORS AMONG CERTAIN SECTORS WITHIN THE REGION'S ECONOMY; OUTREACHTO BUSINESSES IN THE HIGH TECHNOLOGY SECTORS, WITH AN EMPHASIS ON SMALL AND MEDIUM SIZED BUSINESSESAND PROVIDE SERVICES TO SUPPORT THEIR GROWTH AND DEVELOPMENT IN THE REGION; AND STEWARDING THE REGIONALINCLUSIVE GROWTH STRATEGY TO MAKE SAN DIEGO MORE AFFORDABLE AND COMPETITIVE FOR ALL SAN DIEGORESIDENTS.
WORKFORCE EDUCATIONTHE FOUNDATION SUPPORTS PROGRAMS AND INITIATIVES RELATED TO ALIGNING THE REGION'S WORKFORCE DEVELOPMENTPROGRAMS WITH ITS ECONOMIC DEVELOPMENT PROGRAMS. PROGRAMS INCLUDE, CONNECTING COLLEGE STUDENTS WITHEMPLOYERS ON UNIVERSITY/COLLEGE CAMPUSES THROUGH LINK2; CONNECTING EMPLOYERS WITH WORKFORCE TRAININGPROGRAMS TO ALIGN AND INFORM PROGRAMS; AND SUPPORT EDC'S INTERNSHIP PROGRAM.
OEA GRANTTHE FOUNDATION WAS AWARDED A CONTRACT FROM THE CITY OF SAN DIEGO AS A SUB AWARDEE ON A LARGER GRANTAWARDED TO THE CITY OF SAN DIEGO BY THE OFFICE OF ECONOMIC ADJUSTMENT (OEA), FOR PHASE II OF THE PROJECT.THIS GRANT IS PROVIDED TO SUPPORT NON-PROFITS AND GOVERNMENT ENTITIES IN CREATING PROGRAMS TO ASSISTDEFENSE CONTRACTORS WHO HAVE BEEN OR MAY BE IMPACTED BY REDUCTIONS IN DEFENSE SPENDING.ENTREPRENEURSHIP FUNDTHE FOUNDATION CREATED THIS PROGRAM TO SUPPORT INITIATIVES AND PROGRAMS AIMED AT ASSISTING SMALLBUSINESSES AND ENTREPRENEURS TO GROW AND THRIVE IN SAN DIEGO, THUS CREATING MORE EMPLOYMENTOPPORTUNITIES IN THE REGION.METROCONNECTTHE FOUNDATION MANAGES THE EXPORT CHALLENGE GRANT PROGRAM TO SUPPORT SAN DIEGO-BASED COMPANIES TOIDENTIFY AND EXECUTE NEW INTERNATIONAL SALES OPPORTUNITIES. METROCONNECT OFFERS COMPANIES WORKSHOPSAND TECHNICAL ASSISTANCE FOR COMPANIES TO UNDERSTAND FOREIGN MARKETS.TALENT & GLOBAL IDENTITY SAN DIEGO LIFE CHANGING CAMPAIGNTHE FOUNDATION SUPPORTS EDC TO STEWARD A REGIONAL PLAN TO BUILD SAN DIEGO'S GLOBAL IDENTITY TO ATTRACTINNOVATIVE COMPANIES AND TALENT TO THE REGION TO DRIVE JOB GROWTH. THE SAN DIEGO LIFE CHANGING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tana Lorah Director | OfficerTrustee | 0.5 | $0 |
Jennifer Storm Executive Director | Officer | 40 | $0 |
Sierra Spitzer Director | Trustee | 0.5 | $0 |
Jacquie Furtado Director | Trustee | 0.5 | $0 |
Diana Puetz Director | Trustee | 0.5 | $0 |
Adolfo Ventura Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cmtc Technical Consulting | 6/29/19 | $118,580 |
Economic Development Corporation Of San Program Management And Administrative Se | 6/29/19 | $406,854 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,492,316 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,492,316 |
| Total Program Service Revenue | $0 |
| 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 | $1,492,316 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,973 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $52,864 |
| 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 | $1,600,988 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,673,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,978,464 |
| 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 | $1,857 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,980,321 |
| Accounts payable and accrued expenses | $470,861 |
| 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 | $0 |
| Total liabilities | $470,861 |
| Net assets without donor restrictions | $184,828 |
| Net assets with donor restrictions | $1,324,632 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,980,321 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that San Diego Regional Economic Development Foundation has recieved totaling $841,000.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $750,000 |
Kaiser Foundation Hospitals Oakland, CA PURPOSE: Student Internship Support | $60,000 |
Gary And Mary West Foundation La Jolla, CA PURPOSE: TO SUPPORT GENERAL OPERATIONS. | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partners In Development Foundation Honolulu, HI | $6,037,007 | $19,233,237 |
Pasadena Center Operating Company Pasadena, CA | $155,500,535 | $24,244,402 |
Community Action Partnership Of Sonoma County Santa Rosa, CA | $6,669,063 | $15,581,119 |
Ideoorg San Francisco, CA | $12,398,491 | $9,854,732 |
Reinvent Stockton Foundation Stockton, CA | $46,832,546 | $19,773,564 |
Project Access Inc Orange, CA | $2,961,540 | $13,042,187 |
East Los Angeles Community Union Los Angeles, CA | $130,392,954 | $16,987,947 |
Gamaliel Of California Santa Rosa, CA | $3,034,268 | $10,017,971 |
Downtown Santa Monica Inc Santa Monica, CA | $4,897,203 | $9,308,728 |
Resources For Community Development Berkeley, CA | $93,266,557 | $6,994,658 |
Lake Wildwood Association Penn Valley, CA | $30,720,187 | $8,953,678 |
Antelope Valley Partners For Health Lancaster, CA | $4,220,936 | $10,090,239 |