East L A Community Corporation
- Assets
- $38.4m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 32
- Location
- Los Angeles, CA
- Founding
- 08/1995
- Data as of
- 12/2022
- EIN
- 95-4531076
Organization Overview
East L A Community Corporation is located in Los Angeles, CA. The organization was established in 1995. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, East L A Community Corporation employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East L A Community 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 12/2022, East L A Community Corporation generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $4.8m during the year ending 12/2022. While expenses have increased by 1.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ELACC'S MISSION IS TO ADVOCATE FOR ECONOMIC AND SOCIAL JUSTICE IN BOYLE HEIGHTS AND EAST LOS ANGELES BY BUILDING GRASSROOTS LEADERSHIP, DEVELOPING AFFORDABLE HOUSING AND NEIGHBORHOOD ASSETS, AND PROVIDING ACCESS TO ECONOMIC DEVELOPMENT OPPORTUNITIES TO LOW AND MODERATE INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A. COMMUNITY WEALTH: 1. THROUGH VITA, PROVIDE FREE TAX RETURN PREPARATION FOR LOW-INCOME HOUSEHOLDS. 2. PROVIDE FINANCIAL EDUCATION WORKSHOPS AND FINANCIAL COACHING FOR LOW-INCOME HOUSEHOLDS. 3. ORGANIZE LENDING CIRCLES CREDIT BUILDING PROGRAM FOR LOW-INCOME HOUSEHOLDS. 3. THROUGH HOMEBUYER EDUCATION AND COUNSELING, PREPARE FUTURE HOMEOWNERS WITH FIRST TIME HOMEBUYER EDUCATION AND ONE-ON-ONE PRE-PURCHASE COUNSELING.
B. AFFORDABLE HOUSING & COMMUNITY DEVELOPMENT: 1. DEVELOP NEW AFFORDABLE HOUSING PROJECTS; 2. OWN AND PROVIDE ASSET & PROPERTY MANAGEMENT SERVICES FOR IN-HOUSE PORTFOLIO OF 60 AFFORDABLE HOUSING UNITS AND 10 COMMERCIAL PROPERTIES; 3. CO-OWN AND PROVIDE ASSET MANAGEMENT SERVICES FOR LOW INCOME HOUSING TAX CREDIT AFFORDABLE & PERMANENET SUPPORTIVE HOUSING PORTFOLIO INCLUDING 19 PROJECTS WITH 917 UNITS; 4. PROVIDE SERVICES TO RESIDENTS OF AFFORDABLE HOUSING PROPERTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Elster Board Member | Trustee | 1 | $0 |
Araceli Sandoval Chair | OfficerTrustee | 1 | $0 |
Arnoldo Ulloa Board Member | Trustee | 1 | $0 |
Daniel Rodriguez Treasurer | OfficerTrustee | 1 | $0 |
Manuel Bernal Vice Chair | OfficerTrustee | 1 | $0 |
Mercedes Martin Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elba Schildcrout Consulting Services | 12/30/22 | $115,720 |
Cohn Reznick Llp Audit, Tax, And Accounting Services | 12/30/22 | $161,581 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $495,607 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,060,887 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,556,494 |
| Total Program Service Revenue | $2,904,302 |
| Investment income | $1,672 |
| 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 | $4,462,468 |
| 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. | $357,266 |
| Compensation of current officers, directors, key employees. | $31,103 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,612,650 |
| Pension plan accruals and contributions | $16,192 |
| Other employee benefits | $171,012 |
| Payroll taxes | $148,493 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,244 |
| Fees for services: Accounting | $129,127 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $545,387 |
| Advertising and promotion | $4,135 |
| Office expenses | $106,340 |
| Information technology | $80,267 |
| Royalties | $0 |
| Occupancy | $409,534 |
| Travel | $18,290 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,383 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,462 |
| Insurance | $0 |
| All other expenses | $198,756 |
| Total functional expenses | $4,792,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,698,754 |
| Savings and temporary cash investments | $248,497 |
| Pledges and grants receivable | $798,206 |
| Accounts receivable, net | $1,407,653 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,213,023 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $305,172 |
| Net Land, buildings, and equipment | $15,741,777 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$1,499,598 |
| Intangible assets | $0 |
| Other assets | $4,484,453 |
| Total assets | $38,397,937 |
| Accounts payable and accrued expenses | $8,160,687 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $80,253 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $278,215 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,456,272 |
| Total liabilities | $16,985,427 |
| Net assets without donor restrictions | $15,381,702 |
| Net assets with donor restrictions | $6,030,808 |
| 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 | $38,397,937 |