Form 990 for tax year 2023
Filed by LOS ANGELES AREA CHAMBER OF COMMERCE FOUNDATION.
Totals
- Total revenue
- $777,096
- Total expenses
- $1,130,325
- Contributions and grants received
- $730,782
- Grants paid
- $0
- Program service revenue
- $46,270
- Investment income
- $0
- Other revenue
- $44
- Total assets, end of year
- $393,356
- Total liabilities, end of year
- $684,342
- Net assets or fund balances, end of year
- -$290,986
- Program services expenses (Part IX)
- $1,037,999
- Management and general expenses
- $21,969
- Fundraising expenses
- $70,357
- Program service expenses (Part III)
- $1,037,999
Program services were 91.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$270,108
-
1f · All other contributions, gifts and grants
$460,674
-
2a · Program service revenue: GOVERNMENT CONTACTS
total $33,750 · related or exempt $33,750
-
2b · Program service revenue: TICKETS AND ADMISSION
total $12,520 · related or exempt $12,520
-
11a · Other revenue: MISC INCOME
total $44 · excluded $44
-
11e · Other revenue, total
$44
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $504,785 · program services $453,849 · management and general $12,120 · fundraising $38,816
-
9 · Other employee benefits
total $65,708 · program services $59,763 · management and general $1,415 · fundraising $4,530
-
10 · Payroll taxes
total $36,006 · program services $32,748 · management and general $775 · fundraising $2,483
-
11c · Fees: accounting
total $22,635 · program services $19,898 · management and general $651 · fundraising $2,086
-
13 · Office expenses
total $7,007 · program services $6,160 · management and general $202 · fundraising $645
-
22 · Depreciation, depletion and amortization
total $7,765 · program services $6,358 · management and general $335 · fundraising $1,072
-
23 · Insurance
total $10,318 · program services $9,070 · management and general $297 · fundraising $951
-
24a · Other expenses: EVENT AND PROGRAM
total $293,654 · program services $289,767 · management and general $925 · fundraising $2,962
-
24b · Other expenses: AFFILIATE FEES
total $160,421 · program services $141,023 · management and general $4,616 · fundraising $14,782
-
24c · Other expenses: COMPUTER EXPENSE
total $10,913 · program services $9,593 · management and general $314 · fundraising $1,006
-
24d · Other expenses: BAD DEBT EXPENSE
total $5,500 · program services $4,835 · management and general $158 · fundraising $507
-
24e · All other expenses
total $5,613 · program services $4,935 · management and general $161 · fundraising $517
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $52,168 · end of year $97,804
-
4 · Accounts receivable
beginning of year $413,422 · end of year $179,096
-
10a · Land, buildings and equipment: cost or other basis
$151,930
-
10b · Land, buildings and equipment: accumulated depreciation
$73,669
-
10c · Land, buildings and equipment, net
beginning of year $86,026 · end of year $78,261
-
15 · Other assets
beginning of year $49,108 · end of year $38,195
-
17 · Accounts payable and accrued expenses
beginning of year $452,090 · end of year $584,230
-
19 · Deferred revenue
beginning of year $10,000 · end of year $39,000
-
24 · Unsecured notes and loans payable
beginning of year $76,391 · end of year $61,112
-
27 · Net assets without donor restrictions
beginning of year $49,743 · end of year -$290,986
-
28 · Net assets with donor restrictions
beginning of year $12,500 · end of year $0
Mission and programs · 2023
Mission
SEE SCHEDULE O
Activities or mission (Part I)
ADVANCE AND SUPPORT EFFORTS THAT ELIMINATE BARRIERS AND MAXIMIZE OPPORTUNITIES FOR ECONOMIC PROSPERITY.
-
SEE SCHEDULE O
Expenses $1,037,999 · Revenue $46,270
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Maria SalinasMARIA SALINAS
PRESIDENT & CEO
- Total calculated
- $701,311
- From this org
- $0
- From related orgs
- $670,000
- Other
- $31,311
- Hours/week
- 3 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $575,000 related
- Bonus
- $0 + $95,000 related
- Other
- $0
- Deferred
- $0 + $20,052 related
- Nontaxable benefits
- $0 + $11,259 related
- Filer's total
- $0 + $701,311 related
-
Ag SpanosAG SPANOS
CHAIR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Janet LamkinJANET LAMKIN
FIRST VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mark LouchheimMARK LOUCHHEIM
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Raul A AnayaRAUL A ANAYA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Alan RothenbergALAN ROTHENBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Andy ParkANDY PARK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Augustavia Augie J HaydelAUGUSTAVIA AUGIE J HAYDEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Brandon YoungBRANDON YOUNG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Brissa Sotelo-VargasBRISSA SOTELO-VARGAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Charlene Dimas-PeinadoCHARLENE DIMAS-PEINADO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Dana DebelDANA DEBEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Erin SmithERIN SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Eugene Gene D SerokaEUGENE GENE D SEROKA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Fran InmanFRAN INMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Francisco RodriguezFRANCISCO RODRIGUEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Francisco UribeFRANCISCO URIBE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
George PlaGEORGE PLA
SECOND VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Gregory T GeyerGREGORY T GEYER
TREASURER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Javier CanoJAVIER CANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jeff WilsonJEFF WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jerold B Jerry NeumanJEROLD B JERRY NEUMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jose A HernandezJOSE A HERNANDEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Joseph CzyzykJOSEPH CZYZYK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Juan SalazarJUAN SALAZAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Larry ChungLARRY CHUNG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lisa PitneyLISA PITNEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lupita Sanchez-CornejoLUPITA SANCHEZ-CORNEJO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Maria Cristina CamposMARIA CRISTINA CAMPOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mario CorderoMARIO CORDERO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Martin Marty HodgettMARTIN MARTY HODGETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Maureen KindelMAUREEN KINDEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Michael OchoaMICHAEL OCHOA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Michele RuizMICHELE RUIZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Michelle Gaskill-HamesMICHELLE GASKILL-HAMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Nicole J SimonianNICOLE J SIMONIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Philip R RechtPHILIP R RECHT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Phillip TatePHILLIP TATE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Randal J HernandezRANDAL J HERNANDEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Stephen FinneganSTEPHEN FINNEGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Steve NissenSTEVE NISSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Sunny Reelhorn ParrSUNNY REELHORN PARR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Taylor Hathaway-ZepedaTAYLOR HATHAWAY-ZEPEDA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Todd WilsonTODD WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Wayne FeuerbornWAYNE FEUERBORN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Whitney O'Neill-EnglanderWHITNEY O'NEILL-ENGLANDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Martin BreidsprecherMARTIN BREIDSPRECHER
CHIEF OPERATING OFFICER
- Total calculated
- $357,983
- From this org
- $0
- From related orgs
- $322,545
- Other
- $35,438
- Hours/week
- 3 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $277,545 related
- Bonus
- $0 + $45,000 related
- Other
- $0
- Deferred
- $0 + $10,023 related
- Nontaxable benefits
- $0 + $25,415 related
- Filer's total
- $0 + $357,983 related
-
Andrea NunnANDREA NUNN
SR VICE PRES, INNOVATION & ENTREPRENUER
- Total calculated
- $235,366
- From this org
- $0
- From related orgs
- $217,610
- Other
- $17,756
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $217,610 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $6,497 related
- Nontaxable benefits
- $0 + $11,259 related
- Filer's total
- $0 + $235,366 related
-
Peter Say Song FooPETER SAY SONG FOO
VICE PRESIDENT, ENTREPRENEURSHIP & WFD
- Total calculated
- $144,869
- From this org
- $0
- From related orgs
- $123,734
- Other
- $21,135
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $123,734 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $3,906 related
- Nontaxable benefits
- $0 + $17,229 related
- Filer's total
- $0 + $144,869 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- THE ORGANIZATION REIMBURSES THE CEO FOR BUSINESS USE PORTION OF A SOCIAL CLUB MEMBERSHIP. CLUB MEMBERSHIP IS PRIMARILY USED FOR BUSINESS PURPOSES FOR FURTHERING THE CHAMBER'S MISSION AMONGST THE BUSINESS COMMUNITY.
- PART I, LINE 3
- THE ORGANIZATION SHARES CERTAIN PAYROLL AND OTHER ADMINISTRATIVE FUNCTIONS WITH LOS ANGELES AREA CHAMBER OF COMMERCE, A RELATED NONPROFIT ORGANIZATION. THE ORGANIZATION REIMBURSES THE LOS ANGELES AREA CHAMBER OF COMMERCE FOR THE COSTS OF THE PAYROLL AND ADMINISTRATIVE EXPENSES IT INCURS ON BEHALF OF LOS ANGELES AREA CHAMBER OF COMMERCE FOUNDATION.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
LOS ANGELES AREA CHAMBER OF COMMERCE
501(C)(6) · CHAMBER · CA
-
LA JOBS PAC
527 · PAC · CA
Directly controlled by LACC
-
LA JOBS ISSUES PAC SPONSORED BY LOS ANGELES AREA CHAMBER OF COMMERCE
527 · PAC · CA
Directly controlled by LACC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 11 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423189349306552
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