Figueroa Corridor Partnership Inc
- Assets
- $214.8k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 02/2000
- Data as of
- 12/2023
- EIN
- 95-4656045
Organization Overview
Figueroa Corridor Partnership Inc is located in Los Angeles, CA. The organization was established in 2000. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Figueroa Corridor Partnership Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Figueroa Corridor Partnership Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RESPONSIBLE FOR THE DAILY MAMAGEMENT AND PROMOTION OF THE FIGUEROA/FLOWER/VERMONT CORRIDOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PARTNERSHIP IS A NON-PROFIT BUSINESS IMPROVEMENT DISTRICT (BID). BID AREA PROPERTY OWNERS AGREE TO AN ASSESSMENT PLAN UNDER WHICH THEY PAY ADDITIONAL ASSESSED AMOUNTS WITH THEIR PROPERTY TAX TO PAY FOR MAINTENANCE, SECURITY, AND MARKETING SERVICES ABOVE THOSE PROVIDED BY THE CITY. THE ORGANIZATION OPERATES A CLEAN TEAM TO REMOVE TRASH AND GRAFITI, A SAFETY AMBASSADOR CREW HELPS DETER CRIME, AND A MARKETING FIRM PROVIDES PUBLICITY TO THE AREA THROUGH A QUARTERLY NEWSLETTER AND MEDIA OUTREACH. THE COLLECTIVE POWER OF BRINGING TOGETHER ALL BUSINESSES, NON-PROFIT INSTITUTIONS, AND SERVICE ORGANIZATIONS HAS HELPED THE DISTRICT WORK VERY EFFECTIVELY WITH LOCAL GOVERNMENT ORGANIZATIONS AND BRING INNOVATIVE STREETSCAPE, BEAUTIFICATION, AND CULTURAL AMENITIES TO THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Gibson Executive Dir. | Officer | 0 | $162,541 |
Irene Rodriguez Chairman | OfficerTrustee | 1 | $0 |
Melinda Ramos-Alatorre Treasurer | OfficerTrustee | 1 | $0 |
Darryl Holter Secretary | OfficerTrustee | 1 | $0 |
Fred Yadegar Director | OfficerTrustee | 1 | $0 |
Diana Mendoza Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Securitas Security Services Usa Security | 12/30/23 | $757,213 |
Chrysalis Enterprises Cleaning/maintenance | 12/30/23 | $606,238 |
Urban Place Consulting Grp Inc Management | 12/30/23 | $162,541 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $81,478 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $81,478 |
| Total Program Service Revenue | $1,626,163 |
| Investment income | $4,469 |
| 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 | $1,712,110 |
| 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. | $162,541 |
| Compensation of current officers, directors, key employees. | $78,366 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,850 |
| 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 | $146,339 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,815 |
| Travel | $3,064 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,049 |
| All other expenses | $0 |
| Total functional expenses | $1,604,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,862 |
| Savings and temporary cash investments | $133,505 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,388 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $214,755 |
| Accounts payable and accrued expenses | $123,672 |
| 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 | $0 |
| Total liabilities | $123,672 |
| Net assets without donor restrictions | $91,083 |
| 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 | $214,755 |