The Valley Economic Alliance
- Assets
- $1.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Sherman Oaks, CA
- Founding
- 09/1995
- Data as of
- 06/2022
- EIN
- 95-4524503
Organization Overview
The Valley Economic Alliance is located in Sherman Oaks, CA. The organization was established in 1995. According to its NTEE Classification (V20) the organization is classified as: Social Science, under the broad grouping of Social Science and related organizations. As of 06/2022, Valley Economic Alliance employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Economic Alliance 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 06/2022, Valley Economic Alliance generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $768.0k during the year ending 06/2022. 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
FOUNDED IN 1995, IN THE WAKE OF THE NORTHRIDGE EARTHQUAKE, THE VALLEY ECONOMIC ALLIANCE A 501(C)(3) NON-PROFIT STRATEGIC PRIVATE-PUBLIC COLLABORATIVE MADE UP OF BUSINESSES, GOVERNMENT, EDUCATION AND COMMUNITY ORGANIZATIONS WHOSE MISSION IS ENGAGE AND UNITE VALLEY STAKEHOLDERS TO RAISE STANDARDS OF LIVING AND ECONOMIC VITALITY ACROSS THE FIVE-CITY REGION BURBANK, CALABASAS, GLENDALE, LOS ANGELES AND SAN FERNANDO CONSISTING OF MORE THAN 160,000 BUSINESSES AND OVER 2 MILLION RESIDENTS COVERING MORE THAN 350 SQUARE MILES.
Describe the Organization's Program Activity:
THE ALLIANCE ADVANCES ITS MISSION THROUGH FOUR INITIATIVE AREAS:ECONOMIC DEVELOPMENTLEADING VALLEY STAKEHOLDERS IN ATTRACTING NEW EMPLOYERS TO THE REGION, RETAINING JOBS BY HELPING COMPANIES REDUCE COSTS, ASSISTING BUSINESSES (INCLUDING DISADVANTAGED BUSINESSES) TO CONNECT TO FREE AND LOW-COST BUSINESS RESOURCES.EDUCATION & WORKFORCE DEVELOPMENTSTRENGTHENING OUR LOCAL SCHOOLS AND FOSTERING A WELL-TRAINED WORKFORCE BY WORKING WITH OUR LOCAL COMMUNITY COLLEGES, UNIVERSITIES, AND EMPLOYMENT CENTERS, AMONG OTHERS TO CONNECT BUSINESSES TO QUALIFIED STAFF.LIVABLE & SUSTAINABLE COMMUNITIESCONVENING THOUGHT LEADERS ON SUCH TOPICS AS AFFORDABLE HOUSING, HOMELESSNESS, ENVIRONMENTAL SUSTAINABILITY, ACCESS TO HEALTHCARE, ACCESS TO HEALTHY FOOD, TRANSPORTATION, PUBLIC SAFETY, AND SANITATION, AMONG OTHER QUALITY OF LIFE ISSUES THAT SIGNIFICANTLY IMPACT THE BUSINESS ENVIRONMENT.MARKETING THE VALLEYPROMOTING THE BENEFITS OF WORKING, LIVING, VISITING, AND GETTING AN EDUCATION IN THE SAN FERNANDO VALLEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Witt Past Chair | OfficerTrustee | 2 | $0 |
Fred Gaines Chair | OfficerTrustee | 2 | $0 |
Armida Colemenares-Stafford First Vice Chair | OfficerTrustee | 2 | $0 |
Kathy Mcintyre Secretary | OfficerTrustee | 2 | $0 |
Jane A Skeeter Vice Chair | OfficerTrustee | 2 | $0 |
William Allen Board Of Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $155,275 |
| All other contributions, gifts, grants, and similar amounts not included above | $524,537 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $679,812 |
| Total Program Service Revenue | $190,777 |
| Investment income | $45,849 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$2,700 |
| Net Gain/Loss on Asset Sales | $969,382 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,883,120 |
| 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. | $160,334 |
| Compensation of current officers, directors, key employees. | $16,034 |
| Compensation to disqualified persons | $167,749 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,499 |
| Payroll taxes | $26,273 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,401 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $38,948 |
| Office expenses | $13,633 |
| Information technology | $13,719 |
| Royalties | $0 |
| Occupancy | $70,357 |
| Travel | $10 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $962 |
| Insurance | $7,333 |
| All other expenses | $30,220 |
| Total functional expenses | $767,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,954 |
| Savings and temporary cash investments | $851,002 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,145 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,361 |
| Investments—publicly traded securities | $536,999 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $132,500 |
| Total assets | $1,732,961 |
| Accounts payable and accrued expenses | $6,270 |
| 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 | $63,079 |
| Total liabilities | $69,349 |
| Net assets without donor restrictions | $1,663,612 |
| 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 | $1,732,961 |