Economic Resources Corporation is located in Lynwood, CA. The organization was established in 1969. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2021, Economic Resources Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Resources 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 06/2021, Economic Resources Corporation generated $4.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $2.6m during the year ending 06/2021. While expenses have increased by 0.0% 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
SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dutch C Ross III President/ceo | 38 | $342,139 | |
Samuel Hughes President/ceo | OfficerTrustee | 38 | $215,233 |
Nancy H Ikegami Controller | Officer | 38 | $175,773 |
Albert Carrol Investment Manager | 38 | $175,726 | |
Sierra Smith Director | Trustee | 1 | $0 |
Kyle Davis Director | Trustee | 1 | $0 |
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 | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $4,326,048 |
Investment income | $81,768 |
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 | $4,407,816 |
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. | $803,548 |
Compensation of current officers, directors, key employees. | $200,887 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $113,431 |
Pension plan accruals and contributions | $70,414 |
Other employee benefits | $12,285 |
Payroll taxes | $58,928 |
Fees for services: Management | $0 |
Fees for services: Legal | $25,062 |
Fees for services: Accounting | $29,908 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $282,664 |
Advertising and promotion | $0 |
Office expenses | $52,877 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $594 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $970 |
Interest | $7,326 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $356,883 |
Insurance | $83,371 |
All other expenses | $0 |
Total functional expenses | $2,577,943 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $224,624 |
Savings and temporary cash investments | $9,776,424 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $107,077 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $292,251 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $185,903 |
Net Land, buildings, and equipment | $7,065,625 |
Investments—publicly traded securities | $1,603,830 |
Investments—other securities | $0 |
Investments—program-related | $697,646 |
Intangible assets | $28,773 |
Other assets | $0 |
Total assets | $19,982,153 |
Accounts payable and accrued expenses | $424,711 |
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 | $78,718 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $3,020,070 |
Total liabilities | $3,523,499 |
Net assets without donor restrictions | $16,458,654 |
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 | $0 |
Total liabilities and net assets/fund balances | $19,982,153 |
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