Los Angeles Cleantech Incubator
- Assets
- $14.0m
- Revenue
- $21.6m
- Investments
- $0.0
- Employees
- 72
- Location
- Los Angeles, CA
- Founding
- 08/2012
- Data as of
- 12/2022
- EIN
- 45-4998717
Organization Overview
Los Angeles Cleantech Incubator is located in Los Angeles, CA. The organization was established in 2012. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Los Angeles Cleantech Incubator employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Cleantech Incubator 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 12/2022, Los Angeles Cleantech Incubator generated $21.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.4% each year . All expenses for the organization totaled $14.4m during the year ending 12/2022. While expenses have increased by 17.7% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FOCUS THE PRIVATE AND PUBLIC SECTORS ON THE PROCESSES AND TECHNOLOGIES REGARDING THE SUSTAINABLE CONSUMPTION OF OUR NATURAL RESOURCES.
Describe the Organization's Program Activity:
MARKET TRANSFORMATION - TO ACCELERATE SYSTEM CHANGE ON KEY INITIATIVES ACROSS TRANSPORTATION AND MOBILITY, ENERGY AND SUSTAINABLE CITIES, LACI HAS INITIATED PUBLIC SECTOR, INDUSTRY AND CORPORATE PARTNERSHIPS AND WORKING RELATIONSHIPS TO IDENTIFY AND DRIVE THE COMMERCIALIZATION OF CLEANTECH AND SUSTAINABLE SOLUTIONS AND REDUCE REAL, AND PERCEIVED, CLEANTECH ADOPTION HURDLES. MORE THAN 5 YEARS AGO, LACI CONVENED THE TRANSPORTATION ELECTRIFICATION PARTNERSHIP (TEP), AN UNPRECEDENTED MULTI-YEAR PARTNERSHIP AMONG LOCAL, REGIONAL, AND STATE STAKEHOLDERS THAT IS WORKING TO ACCELERATE PROGRESS TOWARDS TRANSPORTATION ELECTRIFICATION AND ZERO EMISSIONS GOODS MOVEMENT IN THE GREATER LA REGION IN ADVANCE OF THE 2028 OLYMPIC AND PARALYMPIC GAMES.
ENHANCING COMMUNITY- LACI WORKS TO ENSURE THAT EVERYONE CAN BENEFIT FROM THE GREEN ECONOMY EITHER FROM GREEN JOBS, CLEAN AIR OR ACCESSING NEW ZERO EMISSIONS MOBILITY OR ENERGY SOLUTIONS. WITH THIS LENS, WE INTENTIONALLY RECRUIT DIVERSE ENTREPRENEURS, INCLUDING FEMALE FOUNDERS, PEOPLE OF COLOR, LGBTQ+, AND VETERANS INTO OUR CLEANTECH ECOSYSTEM, AND OUR HIGH-TOUCH, HIGH-OUTCOME WORKFORCE DEVELOPMENT PROGRAM, THE ADVANCED PROTOTYPING CENTER (APC) FELLOWSHIP, WHICH PROVIDES PARTICIPANTS FROM UNDERREPRESENTED GROUPS WITH TECHNICAL TRAINING, INTERPERSONAL SKILLS AND INDUSTRY-RECOGNIZED CREDENTIALS TO THRIVE IN THE EXPANDING GREEN ECONOMY.FISCAL SPONSORSHIP - LACI FACILITATES THE RECEIPT AND MANAGEMENT OF PHILANTHROPIC AND IMPACT FUNDS FOR SPECIFIC EXTERNAL PROGRAMS THAT SUPPORT LACI'S MISSION THROUGH FOR-AND NONPROFIT PARTNERS IN LOS ANGELES. IN 2022, LACI SERVED AS FISCAL SPONSOR FOR A WORKFORCE TRAINING PARTNERSHIP WITH PORTFOLIO START UP CHARGERHELP, AS WELL AS SUPPORT FOR THE LA CITY MAYOR'S YOUTH COUNCIL. LACI IS ALWAYS LOOKING FOR COLLABORATIONS THAT FURTHER ITS MISSION.
UNLOCKING INNOVATION - LACI INCUBATES AND ACCELERATES CLEANTECH STARTUPS AND HELPS COMMERCIALIZE THEIR TECHNOLOGIES BY PROVIDING BEST-IN-CLASS COACHING AND ADVICE TO FOUNDERS, FACILITATING INVESTMENT PREPARATION AND ASSISTANCE WITH SHARED BUSINESS SERVICES, AND PROVIDING ACCESS TO HIGH-VALUE RESOURCES. WE OFFER THREE TIERS OF COHORT-BASED PROGRAM SUPPORT: INNOVATORS FOR PRE-COMMERCIAL, EARLY-STAGE ENERGY ENTREPRENEURS; OUR CORE INCUBATION PROGRAM, TO SUPPORT PRE-SEED AND SEED-STAGE CLEANTECH STARTUPS IN SOUTHERN CALIFORNIA; AND MARKET ACCESS, A PILOT CENTRIC PROGRAM FOR SERIES A CLEANTECH STARTUPS READY TO SCALE.
LACI STEWARDSHIP OF LA KRETZ INNOVATION CAMPUS (LKIC) - ON BEHALF OF THE CITY OF LOS ANGELES AND LADWP, LACI REMAINS THE STEWARD OF THE 3.2 ACRE STATE-OF-THE-ART LA KRETZ INNOVATION CAMPUS, WHICH PROVIDES A CRITICAL HUB FOR CLEANTECH INNOVATION IN LOS ANGELES. THE CAMPUS FEATURES THE ADVANCED PROTOTYPING CENTER (APC), A COLLABORATIVE MAKERSPACE WHERE ENTREPRENEURS, ARTISTS, INVENTORS, AND STARTUPS CAN DESIGN, BUILD, TEST AND CERTIFY INNOVATIVE PRODUCTS, ALL UNDER ONE ROOF. THE APC FEATURES MORE THAN $11 MILLION WORTH OF TOOLS, LABS, AND SHOPS, INCLUDING AN ELECTRONICS LAB, BIOCHEMISTRY LAB, CELL LAB, CNC MACHINE, WATER JET, 3D PRINTING, WELDING EQUIPMENT, USE OF PREMIUM CAD SOFTWARE, LASER CUTTERS, A TRAINING CENTER, AND MORE. LKIC ALSO FEATURES THE INTERACTIVE LOS ANGELESDEPARTMENT OF WATER AND POWER CUSTOMER ENGAGEMENT LAB, AS WELL AS ENERGY EFFICIENCY AND EMERGING TECHNOLOGIES LABORATORIES. THE FACILITY ATTRACTS A CONSISTENT ROSTER OF PROFESSIONAL DEVELOPMENT WORKSHOPS, COMMUNITY EVENTS, AND PANEL DISCUSSIONS HOSTED BY LADWP, LACI, CAMPUS MEMBERS, PORTFOLIO SERVICES PROVIDERS AND COMMUNITY GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Casselberry Chairperson | OfficerTrustee | 1 | $0 |
Thomas Soto Vice Chair | OfficerTrustee | 1 | $0 |
David Nahai Treasurer | OfficerTrustee | 1 | $0 |
Sarah Rienhoff Secretary | OfficerTrustee | 1 | $0 |
Thomas Ermacora Board Member | Trustee | 1 | $0 |
Paul Jennings Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accenture Llp Strategic Consulting And Business Planni | 12/30/22 | $252,064 |
Pedal Movement Micromobility Llc Program Support - Market Transformation | 12/30/22 | $250,916 |
Cityfi Llc Program Support - Market Transformation | 12/30/22 | $188,358 |
Carnegie Mellon University Program Support - Market Transformation | 12/30/22 | $166,605 |
Community Environmental Council Program Support - Market Transformation | 12/30/22 | $165,185 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $78,564 |
| Related organizations | $0 |
| Government grants | $16,507,580 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,230,544 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,816,688 |
| Total Program Service Revenue | $1,621,793 |
| Investment income | $37,010 |
| 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 | $21,575,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,500 |
| 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. | $869,910 |
| Compensation of current officers, directors, key employees. | $150,537 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,398,386 |
| Pension plan accruals and contributions | $139,275 |
| Other employee benefits | $351,377 |
| Payroll taxes | $384,053 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $192,824 |
| Fees for services: Accounting | $49,541 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,433,933 |
| Advertising and promotion | $830,612 |
| Office expenses | $141,621 |
| Information technology | $49,841 |
| Royalties | $0 |
| Occupancy | $720,032 |
| Travel | $279,782 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,053 |
| Interest | $3,759 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,517 |
| Insurance | $76,634 |
| All other expenses | $9,752 |
| Total functional expenses | $14,365,079 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $611,741 |
| Savings and temporary cash investments | $9,185,161 |
| Pledges and grants receivable | $3,844,016 |
| Accounts receivable, net | $255,489 |
| 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 | $101,273 |
| Net Land, buildings, and equipment | $44,835 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,717 |
| Total assets | $14,047,232 |
| Accounts payable and accrued expenses | $2,690,395 |
| Grants payable | $0 |
| Deferred revenue | $49,626 |
| 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 | $6,971 |
| Other liabilities | $0 |
| Total liabilities | $2,746,992 |
| Net assets without donor restrictions | $904,412 |
| Net assets with donor restrictions | $10,395,828 |
| 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 | $14,047,232 |
Grants Awarded
Over the last fiscal year, Los Angeles Cleantech Incubator has awarded $132,160 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF SANTA MONICA PURPOSE: IN SUPPORT OF LACI'S MARKET TRANSFORMATION PILOTS PROGRAM | $10,000 |
COMMUNITY ECONOMIC DEVELOPMENT CORPORATION PURPOSE: IN SUPPORT OF LACI'S MARKET TRANSFORMATION PILOTS PROGRAM | $8,360 |
HOUSING AUTHORITY OF THE CITY OF LOS ANGELES PURPOSE: IN SUPPORT OF LACI'S MARKET TRANSFORMATION PILOTS PROGRAM | $7,800 |
PACOIMA BEAUTIFUL PURPOSE: IN SUPPORT OF LACI'S MARKET TRANSFORMATION PILOTS PROGRAM | $11,000 |
UNIVERSITY OF SOUTHERN CALIFORNIA PURPOSE: IN SUPPORT OF LACI'S TRANSPORTATION ELECTRIFICATION PARTNERSHIP (TEP) PROGRAM | $20,000 |
EMERGENCY SUPPLY DONOR GROUP PURPOSE: GENERAL ASSISTANCE | $75,000 |