Los Angeles Sports & Entertainment Commission
- Assets
- $17.0m
- Revenue
- $32.0m
- Investments
- $0.0
- Employees
- 47
- Location
- Los Angeles, CA
- Founding
- 07/1996
- Data as of
- 06/2022
- EIN
- 95-4541188
Organization Overview
Los Angeles Sports & Entertainment Commission is located in Los Angeles, CA. The organization was established in 1996. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 06/2022, Los Angeles Sports & Entertainment Commission employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Sports & Entertainment Commission 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, Los Angeles Sports & Entertainment Commission generated $32.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.2% each year . All expenses for the organization totaled $26.8m during the year ending 06/2022. While expenses have increased by 37.9% 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
WORK WITH THE CITY AND COUNTY OF LOS ANGELES TO BRING MAJOR SPORTING AND ENTERTAINMENT EVENTS TO LA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LASEC CREATED THE CHAMPIONLA PROGRAM TO SUPPORT UPCOMING EVENTS THAT POSITIVELY IMPACT THE DEVELOPMENT OF THE REGION. MAJOR EVENTS INCLUDE THE MLB ALL-STAR GAME 2022, SUPER BOWL 2022, COLLEGE FOOTBALL PLAYOFF NATIONAL CHAMPIONSHIP 2023, AND THE 123RD U.S. OPEN CHAMPIONSHIP. LOS ANGELES IS A HOST CITY FOR THE 2026 FIFA MEN'S WORLD CUP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Schloessman President And CEO | OfficerTrustee | 40 | $363,795 |
Bob Graziano Chair | OfficerTrustee | 2 | $0 |
Carl Schuster Vice Chair | OfficerTrustee | 2 | $0 |
Michael Meyer Secretary | OfficerTrustee | 2 | $0 |
Paul Miller Treasurer | OfficerTrustee | 2 | $0 |
Alan Rothenberg Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
On Locations Events Llc Hospitality Services | 6/29/22 | $1,222,034 |
La Arena Funding Llc Aka Cryptocom Ar Venue Rental And Hospitality Services | 6/29/22 | $367,505 |
Smart City Networks Lp It And Telecommunication Services | 6/29/22 | $487,183 |
Lfr Llc Commercial Fundraiser | 6/29/22 | $259,375 |
Wilkins Media Llc Advertising | 6/29/22 | $255,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $165,650 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,033,588 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,199,238 |
| Total Program Service Revenue | $8,846,027 |
| Investment income | $7,812 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,970,625 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,023,702 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $550,363 |
| 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. | $635,155 |
| Compensation of current officers, directors, key employees. | $82,570 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,744,438 |
| Pension plan accruals and contributions | $49,524 |
| Other employee benefits | $111,807 |
| Payroll taxes | $160,273 |
| Fees for services: Management | $10,365 |
| Fees for services: Legal | $58,287 |
| Fees for services: Accounting | $57,553 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,385 |
| Information technology | $21,848 |
| Royalties | $0 |
| Occupancy | $6,886 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,357 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,941 |
| Insurance | $44,734 |
| All other expenses | $4,922 |
| Total functional expenses | $26,808,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,816 |
| Savings and temporary cash investments | $6,922,105 |
| Pledges and grants receivable | $4,574,464 |
| Accounts receivable, net | $4,817,171 |
| 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 | $612,222 |
| Net Land, buildings, and equipment | $29,677 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,989,455 |
| Accounts payable and accrued expenses | $1,645,572 |
| Grants payable | $0 |
| Deferred revenue | $468,672 |
| 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 | $0 |
| Total liabilities | $2,114,244 |
| Net assets without donor restrictions | $2,875,363 |
| Net assets with donor restrictions | $11,999,848 |
| 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 | $16,989,455 |
Grants Awarded
Over the last fiscal year, Los Angeles Sports & Entertainment Commission has awarded $550,363 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
INNER CITY VISIONS PURPOSE: ANTI-TRAFFICKING INITIATIVES | $100,000 |
THE PLAY EQUITY FUND PURPOSE: MOBILE PLAYGROUND FOR LOS ANGELES YOUTH | $375,000 |
UNIVERSITY OF SOUTHERN CALIFORNIA PURPOSE: SOCIAL MEDIA | $35,363 |
TREEPEOPLE INC PURPOSE: SUSTAINABILITY PROGRAMS | $25,000 |
THE SALVATION ARMY PURPOSE: OUTREACH | $15,000 |