Vermont-Slauson Economic Development Corporation
- Assets
- $16.1m
- Revenue
- $3.4m
- Investments
- $9.5m
- Employees
- 18
- Location
- Los Angeles, CA
- Founding
- 08/1980
- Data as of
- 06/2022
- EIN
- 95-3464837
Organization Overview
Vermont-Slauson Economic Development Corporation is located in Los Angeles, CA. The organization was established in 1980. 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 06/2022, Vermont-Slauson Economic Development Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vermont-Slauson Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2022, Vermont-Slauson Economic Development Corporation generated $3.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 4.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUSINESS AND RESIDENTIAL DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
VSRC - MANAGED THE OPERATION OF A MULTI-STORE COMMERIAL COMPLEX.
OTHER PROGRAM - VARIOUS OTHER COMMUNITY BASED PROGRAMS
BUSINESS ENTERPRISE CENTER - A SMALL BUSINESS CENTER THAT OFFERS SEMINARS, WORKSHOPS, AND ONE-ON-ONE CONSULTATIONS FOR MINORITY OWNED BUSINESSES. THE CENTER WAS UNDER RENOVATION DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Rouzan III Executive Director | Officer | 40 | $269,636 |
Beatriz Stotzer Boardmember | Trustee | 2 | $0 |
David Roberts Boardmember | Trustee | 2 | $0 |
Miguel Acuna Board Member | Trustee | 2 | $0 |
Quentin Strode Board Member | Trustee | 2 | $0 |
Kyla Lee Treasurer | Officer | 3 | $0 |
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 | $99,112 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,112 |
| Total Program Service Revenue | $1,288,326 |
| Investment income | $1,799,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,301 |
| 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 | $3,446,255 |
| 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 | $737,253 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $119,849 |
| Payroll taxes | $56,329 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,675 |
| 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 | $0 |
| Advertising and promotion | $20,383 |
| Office expenses | $23,277 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,971 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,258 |
| Interest | $504,256 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $298,047 |
| Insurance | $37,592 |
| All other expenses | $664,005 |
| Total functional expenses | $2,645,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173,609 |
| Savings and temporary cash investments | $185,547 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,613 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $200,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,186 |
| Net Land, buildings, and equipment | $3,308,139 |
| Investments—publicly traded securities | $1,928,887 |
| Investments—other securities | $9,544,124 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $762,704 |
| Total assets | $16,120,809 |
| Accounts payable and accrued expenses | $184,981 |
| 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 | $480,350 |
| Other liabilities | $797,540 |
| Total liabilities | $1,462,871 |
| Net assets without donor restrictions | $12,137,938 |
| Net assets with donor restrictions | $2,520,000 |
| 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 | $16,120,809 |