Los Angeles Ldc Inc
- Assets
- $1.9m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 2
- Location
- Inglewood, CA
- Founding
- 05/1999
- Data as of
- 09/2020
- EIN
- 95-3532380
Organization Overview
Los Angeles Ldc Inc is located in Inglewood, CA. The organization was established in 1999. 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 09/2020, Los Angeles Ldc Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Ldc Inc 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 09/2020, Los Angeles Ldc Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 64.6% each year . All expenses for the organization totaled $359.6k during the year ending 09/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONS PRIMARY EXEMPT PURPOSE IS TO FACILITATE ACCESS TO CAPITAL PROVIDE ADVISORY SERVICES TO BORROWERS IN DISTRESSED AREAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED DIRECT AND INDIRECT FUNDING AND/OR PLACEMENT OF BUSINESS & INDUSTRIAL LOANS TO SMALL BUSINESS & SOCIAL ENTERPRISES THAT SERVE AND OPERATE IN TARGETED HIGH POVERTY CENSUS TRACTS. IN THE EXECUTION OF ITS MISSION THE ORGANIZATION PRIORITIZES ITS PROGRAM SERVICES TO ETHNIC MINORITIES, WOMEN & OTHER TARGETED POPULATIONS THAT HAVE BEEN HISTORICALLY DENIED ACCESS TO CAPITAL AND ADVISORY SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Banner Presidentceo | Officer | 40 | $153,900 |
Joseph S Sanders Director | Trustee | 1 | $0 |
Steven M Herman Director | Trustee | 1 | $0 |
Claudia N Santos Director | Trustee | 1 | $0 |
Keith Settle Director | Trustee | 1 | $0 |
Benjamin Torres Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,144,501 |
| Investment income | $1,345 |
| 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 | $3,196,086 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $150,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $76,764 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,530 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,247 |
| Office expenses | $1,884 |
| Information technology | $6,832 |
| Royalties | $0 |
| Occupancy | $43,468 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,632 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,232 |
| All other expenses | $0 |
| Total functional expenses | $359,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $485,363 |
| 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 | $294,100 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,936,914 |
| 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 | $52,425 |
| Other liabilities | $0 |
| Total liabilities | $52,425 |
| 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 |
| Total liabilities and net assets/fund balances | $1,884,489 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Partners Los Angeles, CA | $58,586,885 | $87,387,507 |
Mid-Willamette Valley Community Action Agency Inc Salem, OR | $25,806,708 | $62,767,748 |
Community Action Partnership Of Orange County Garden Grove, CA | $21,104,337 | $38,929,192 |
Spanish-Speaking Unity Council Of Alameda County Inc Oakland, CA | $60,376,755 | $36,217,909 |
Pacific Asian Consortium In Employment Los Angeles, CA | $13,935,624 | $30,857,237 |
Rural Community Assistance West Sacramento, CA | $196,708,835 | $32,872,425 |
Burning Man Project San Francisco, CA | $30,700,234 | $27,748,874 |
Bay Area Community Benefit Organization Oakland, CA | $912,473 | $25,722,786 |
Human Solutions Inc Portland, OR | $41,573,265 | $24,704,381 |
East Bay Asian Local Development Corporation Oakland, CA | $146,938,594 | $23,961,947 |
Partners In Development Foundation Honolulu, HI | $6,037,007 | $19,233,237 |
Pasadena Center Operating Company Pasadena, CA | $155,500,535 | $24,244,402 |