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Nonprofiteer
← LOS ANGELES CLEANTECH INCUBATOR

Form 990 for tax year 2023

Filed by LOS ANGELES CLEANTECH INCUBATOR.

Totals

Total revenue
$26,341,807
Total expenses
$17,769,053
Contributions and grants received
$24,055,726
Grants paid
$38,500
Program service revenue
$1,910,553
Investment income
$446,050
Other revenue
-$70,522
Total assets, end of year
$22,248,258
Total liabilities, end of year
$2,375,264
Net assets or fund balances, end of year
$19,872,994
Program services expenses (Part IX)
$15,973,939
Management and general expenses
$1,048,193
Fundraising expenses
$746,921
Program service expenses (Part III)
$15,973,939

Program services were 89.9% 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.

  • 1c · Fundraising events

    $171,445

  • 1e · Government grants (contributions)

    $19,798,891

  • 1f · All other contributions, gifts and grants

    $4,085,390

  • 2a · Program service revenue: LA KRETZ INNOVATION CAMPUS

    total $1,840,477 · related or exempt $1,840,477

  • 2b · Program service revenue: PROGRAM FEES

    total $70,076 · related or exempt $70,076

  • 3 · Investment income

    total $446,050 · excluded $446,050

  • 8a · Fundraising events: gross income

    $12,000

  • 8a · Fundraising events: contributions included on line 1c

    $171,445

  • 8b · Fundraising events: direct expenses

    $92,522

  • 8c · Net income from fundraising events

    total -$80,522 · excluded -$80,522

  • 11a · Other revenue: GP MANAGEMENT FEES

    total $10,000 · unrelated business $10,000

  • 11e · Other revenue, total

    $10,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $38,500 · program services $38,500

  • 5 · Compensation of officers, directors and key employees

    total $980,211 · program services $425,929 · management and general $369,984 · fundraising $184,298

  • 7 · Other salaries and wages

    total $5,476,595 · program services $4,945,228 · management and general $330,681 · fundraising $200,686

  • 8 · Pension plan contributions

    total $179,197 · program services $172,820 · management and general $4,541 · fundraising $1,836

  • 9 · Other employee benefits

    total $448,913 · program services $395,187 · management and general $39,561 · fundraising $14,165

  • 10 · Payroll taxes

    total $459,180 · program services $390,291 · management and general $48,342 · fundraising $20,547

  • 11b · Fees: legal

    total $172,950 · program services $152,019 · management and general $10,773 · fundraising $10,158

  • 11c · Fees: accounting

    total $83,839 · program services $70,661 · management and general $6,783 · fundraising $6,395

  • 11d · Fees: lobbying

    total $159,176 · program services $154,440 · management and general $2,640 · fundraising $2,096

  • 11g · Fees: other

    total $6,185,262 · program services $6,027,705 · management and general $89,301 · fundraising $68,256

  • 12 · Advertising and promotion

    total $647,951 · program services $599,894 · management and general $24,587 · fundraising $23,470

  • 13 · Office expenses

    total $223,504 · program services $200,236 · management and general $10,746 · fundraising $12,522

  • 14 · Information technology

    total $218,827 · program services $188,087 · management and general $15,421 · fundraising $15,319

  • 16 · Occupancy

    total $808,447 · program services $751,183 · management and general $29 · fundraising $57,235

  • 17 · Travel

    total $396,821 · program services $327,596 · management and general $61,941 · fundraising $7,284

  • 19 · Conferences, conventions and meetings

    total $85,947 · program services $74,534 · management and general $5,976 · fundraising $5,437

  • 20 · Interest

    total $48,398 · program services $44,625 · management and general $3,773

  • 22 · Depreciation, depletion and amortization

    total $49,330 · program services $40,080 · management and general $5,759 · fundraising $3,491

  • 23 · Insurance

    total $108,683 · management and general $8,986 · fundraising $99,697

  • 24a · Other expenses: HARDWARE AND EQUIPMENT

    total $781,280 · program services $780,994 · management and general $147 · fundraising $139

  • 24b · Other expenses: STAFF DEVELOPMENT

    total $103,741 · program services $88,729 · management and general $7,795 · fundraising $7,217

  • 24c · Other expenses: SUBS MEMBERSHIP REGISTR

    total $83,482 · program services $82,983 · management and general $291 · fundraising $208

  • 24d · Other expenses: BAD DEBTS

    total $18,332 · program services $16,903 · fundraising $1,429

  • 24e · All other expenses

    total $10,487 · program services $5,315 · management and general $136 · fundraising $5,036

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $611,741 · end of year $1,244,334

  • 2 · Savings and temporary cash investments

    beginning of year $9,185,161 · end of year $13,424,607

  • 3 · Pledges and grants receivable

    beginning of year $3,844,016 · end of year $6,944,046

  • 4 · Accounts receivable

    beginning of year $255,489 · end of year $472,290

  • 9 · Prepaid expenses and deferred charges

    beginning of year $101,273 · end of year $97,189

  • 10a · Land, buildings and equipment: cost or other basis

    $300,848

  • 10b · Land, buildings and equipment: accumulated depreciation

    $258,770

  • 10c · Land, buildings and equipment, net

    beginning of year $44,835 · end of year $42,078

  • 15 · Other assets

    beginning of year $4,717 · end of year $23,714

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,690,395 · end of year $2,178,049

  • 19 · Deferred revenue

    beginning of year $49,626 · end of year $161,591

  • 24 · Unsecured notes and loans payable

    beginning of year $6,971 · end of year $35,624

  • 27 · Net assets without donor restrictions

    beginning of year $904,412 · end of year $620,461

  • 28 · Net assets with donor restrictions

    beginning of year $10,395,828 · end of year $19,252,533

Mission and programs · 2023

Mission

THE ORGANIZATION WAS FORMED TO PERFORM AND CARRY OUT EXPRESSLY CHARITABLE CONTRIBUTIONS. THE SPECIFIC EXEMPT PURPOSES OF THE ORGANIZATION ARE (I) TO ACCELERATE THE COMERCIALIZATION OF CLEAN TECHNOLOGIES BY PROVIDING SUPPORT, EDUCATION, WORKFORCE TRAINING, MENTORSHIP AND NETWORKING FOR NON-PROFIT ANF FOR-PROFIT START-UP CLEAN TECHNOLOGY COMPANIES LOCATED IN THE REGION OF LOS ANGELES, CALIFORNIA; (II) TO CONSERVE THE NATURAL ENVIRONMENT AND PROMOTE THE ECOLOGICALLY SOUND AND SUSTAINABLE USE OF ENVIRONMENTAL RESOURCES; (III) TO LESSEN THE BURDENS OF GOVERNMENT THROUGH ADVANCEMENT OF ECONOMIC OPPORTUNITIES IN THE AREA OF CLEAN TECHNOLOGY; AND (IV) TO ENGAGE IN ANY AND ALL OTHER CHARITABLE, ELEEMOSYNARY, AND EDUCATIONAL ACTIVITIES PERMITTED TO AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

Activities or mission (Part I)

TO FOCUS THE PRIVATE AND PUBLIC SECTORS ON THE PROCESS AND TECHNOLOGIES REGARDING THE SUSTAINABLE CONSUMPTION OF NATURAL RESOURCES.

  • MARKET TRANSFORMATION TO ACCELERATE SYSTEM CHANGE ON KEY INITIATIVES ACROSS TRANSPORTATION AND MOBILITY, ENERGY AND SUSTAINABLE CITIES, LACI HAS INITIATED PUBLIC SECTOR, INDUSTRY AND CORPORATE PARTNERSHIPS AND WORKING RELATIONSHIPS TO IDENTIFY AND DRIVE THE COMMERCIALIZATION OF CLEANTECH AND SUSTAINABLE SOLUTIONS AND REDUCE REAL, AND PERCEIVED, CLEANTECH ADOPTION HURDLES. MORE THAN 5 YEARS AGO, LACI CONVENED THE TRANSPORTATION ELECTRIFICATION PARTNERSHIP (TEP), AN UNPRECEDENTED MULTI-YEAR PARTNERSHIP AMONG LOCAL, REGIONAL, AND STATE STAKEHOLDERS THAT IS WORKING TO ACCELERATE PROGRESS TOWARDS TRANSPORTATION ELECTRIFICATION AND ZERO EMISSIONS GOODS MOVEMENT IN THE GREATER LA REGION IN ADVANCE OF THE 2028 OLYMPIC AND PARALYMPIC GAMES.IN 2023 WE LAUNCHED THE CLEAN ENERGY PARTNERSHIP, WITH THREE SOLUTION-ORIENTED, PRIORITY PATHWAYS WITH RELATED SPECIFIC TARGETS TO SPUR INNOVATION AND ACCELERATE IMPLEMENTATION VIA RECOMMENDED POLICIES, PILOTS, AND OTHER INITIATIVES.

    Expenses $5,958,141 · Grants $37,813

  • UNLOCKING INNOVATION LACI INCUBATES AND ACCELERATES CLEANTECH STARTUPS AND HELPS COMMERCIALIZE THEIR TECHNOLOGIES BY PROVIDING BEST-IN-CLASS COACHING AND ADVICE TO FOUNDERS, FACILITATING INVESTMENT PREPARATION AND ASSISTANCE WITH SHARED BUSINESS SERVICES, AND PROVIDING ACCESS TO HIGH-VALUE RESOURCES. WE OFFER THREE TIERS OF COHORT-BASED PROGRAM SUPPORT: INNOVATORS FOR PRE-COMMERCIAL, EARLY-STAGE ENERGY ENTREPRENEURS; OUR CORE INCUBATION PROGRAM, TO SUPPORT PRE-SEED AND SEED-STAGE CLEANTECH STARTUPS IN SOUTHERN CALIFORNIA; AND MARKET ACCESS, A PILOT CENTRIC PROGRAM FOR SERIES A CLEANTECH STARTUPS READY TO SCALE.

    Expenses $4,210,561 · Revenue $70,076

  • LACI STEWARDSHIP OF LA KRETZ INNOVATION CAMPUS (LKIC) ON BEHALF OF THE CITY OF LOS ANGELES AND LADWP, LACI REMAINS THE STEWARD OF THE 3.2 ACRE STATE-OF-THE-ART LA KRETZ INNOVATION CAMPUS, WHICH PROVIDES A CRITICAL HUB FOR CLEANTECH INNOVATION IN LOS ANGELES. THE CAMPUS FEATURES THE ADVANCED PROTOTYPING CENTER (APC), A COLLABORATIVE MAKERSPACE WHERE ENTREPRENEURS, ARTISTS, INVENTORS, AND STARTUPS CAN DESIGN, BUILD, TEST AND CERTIFY INNOVATIVE PRODUCTS, ALL UNDER ONE ROOF. THE APC FEATURES MORE THAN $11 MILLION WORTH OF TOOLS, LABS, AND SHOPS, INCLUDING AN ELECTRONICS LAB, BIOCHEMISTRY LAB, CELL LAB, CNC MACHINE, WATER JET, 3D PRINTING, WELDING EQUIPMENT, USE OF PREMIUM CAD SOFTWARE, LASER CUTTERS, A TRAINING CENTER, AND MORE. LKIC ALSO FEATURES THE INTERACTIVE LOS ANGELES DEPARTMENT OF WATER AND POWER CUSTOMER ENGAGEMENT LAB, AS WELL AS ENERGY EFFICIENCY AND EMERGING TECHNOLOGIES LABORATORIES. THE FACILITY ATTRACTS A CONSISTENT ROSTER OF PROFESSIONAL DEVELOPMENT WORKSHOPS, COMMUNITY EVENTS, AND PANEL DISCUSSIONS HOSTED BY LADWP, LACI, CAMPUS MEMBERS, PORTFOLIO SERVICES PROVIDERS AND COMMUNITY GROUPS.

    Expenses $2,499,460 · Revenue $1,840,477

  • ENHANCING COMMUNITY LACI WORKS TO ENSURE THAT EVERYONE CAN BENEFIT FROM THE GREEN ECONOMY EITHER FROM GREEN JOBS, CLEAN AIR OR ACCESSING NEW ZERO EMISSIONS MOBILITY OR ENERGY SOLUTIONS. WITH THIS LENS, WE INTENTIONALLY RECRUIT DIVERSE ENTREPRENEURS, INCLUDING FEMALE FOUNDERS, PEOPLE OF COLOR, LGBTQIA+, AND VETERANS INTO OUR CLEANTECH ECOSYSTEM, AND OUR HIGH-TOUCH, HIGH-OUTCOME WORKFORCE DEVELOPMENT PROGRAM, THE ADVANCED PROTOTYPING CENTER (APC) FELLOWSHIP, WHICH PROVIDES PARTICIPANTS FROM UNDERREPRESENTED GROUPS WITH TECHNICAL TRAINING, INTERPERSONAL SKILLS AND INDUSTRY-RECOGNIZED CREDENTIALS TO THRIVE IN THE EXPANDING GREEN ECONOMY.

    Expenses $3,305,777 · Grants $687

  • FISCAL SPONSORSHIP LACI FACILITATES THE RECEIPT AND MANAGEMENT OF PHILANTHROPIC AND IMPACT FUNDS FOR SPECIFIC EXTERNAL PROGRAMS THAT SUPPORT LACI'S MISSION THROUGH FOR-AND NONPROFIT PARTNERS IN LOS ANGELES. IN 2023, LACI SERVED AS FISCAL SPONSOR FOR THE LA CITY MAYOR'S YOUTH COUNCIL. LACI IS ALWAYS LOOKING FOR COLLABORATIONS THAT FURTHER ITS MISSION.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jim Casselberry

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • David Nahai

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sarah Rienhoff

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Allison Holmes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mary Leslie

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Paul Jennings

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Daniel Tallalian

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alfred Fraijo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brett Hauser

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Liz Heller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Zubin Davar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mathew Petersen

    PRESIDENT AND CEO

    Total calculated
    $448,677
    From this org
    $414,727
    From related orgs
    $0
    Other
    $33,950
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $339,727
    Bonus
    $75,000
    Other
    $0
    Deferred
    $17,450
    Nontaxable benefits
    $16,500
    Filer's total
    $448,677

  • Benjamin Stilp

    EXCECUTIVE VICE PRESIDENT

    Total calculated
    $272,610
    From this org
    $251,009
    From related orgs
    $0
    Other
    $21,601
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $231,884
    Bonus
    $19,125
    Other
    $0
    Deferred
    $9,051
    Nontaxable benefits
    $12,550
    Filer's total
    $272,610

  • Amanda Sabicer

    CHIEF OF STAFF, EVP OPS & PEOPLE

    Total calculated
    $258,924
    From this org
    $228,705
    From related orgs
    $0
    Other
    $30,219
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,825
    Bonus
    $14,880
    Other
    $0
    Deferred
    $24,011
    Nontaxable benefits
    $6,208
    Filer's total
    $258,924

  • Michelle Kinman

    SR VICE PRESIDENT, MARKET

    Total calculated
    $202,422
    From this org
    $175,728
    From related orgs
    $0
    Other
    $26,694
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,654
    Bonus
    $12,074
    Other
    $0
    Deferred
    $17,908
    Nontaxable benefits
    $8,786
    Filer's total
    $202,422

  • Estelle Reyes

    SR VICE PRESIDENT, ENHANCING COMM.

    Total calculated
    $197,335
    From this org
    $179,886
    From related orgs
    $0
    Other
    $17,449
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,841
    Bonus
    $18,045
    Other
    $0
    Deferred
    $8,486
    Nontaxable benefits
    $8,963
    Filer's total
    $197,335

  • Sasha Itzikman

    VICE PRESIDENT, MARKETING

    Total calculated
    $192,215
    From this org
    $184,553
    From related orgs
    $0
    Other
    $7,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,859
    Bonus
    $13,000
    Other
    $52,694
    Deferred
    $7,662
    Nontaxable benefits
    $0
    Filer's total
    $192,215

  • Jillian Misrack

    VICE PRESIDENT, DEVELOPMENT

    Total calculated
    $180,110
    From this org
    $161,612
    From related orgs
    $0
    Other
    $18,498
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,164
    Bonus
    $11,448
    Other
    $0
    Deferred
    $10,417
    Nontaxable benefits
    $8,081
    Filer's total
    $180,110

  • Michael Swords

    VICE PRESIDENT, GOVERNMENT AFFAIRS

    Total calculated
    $153,453
    From this org
    $153,326
    From related orgs
    $0
    Other
    $127
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,092
    Bonus
    $8,234
    Other
    $0
    Deferred
    $127
    Nontaxable benefits
    $0
    Filer's total
    $153,453

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

  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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 4A
SASHA ITZIKMAN RECEIVED A SEVERANCE PAYMENT OF $52,694.

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LACI IMPACT FUND GP II LLC

    INVESTMENT · CA · income $0 · assets $0

    Directly controlled by LOS ANGELES CLEANTHECH INCUBATOR

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • LACI IMPACT GP LLC

    INVESTMENT · INVESTMENT · CA · 50% owned · general or managing partner

    Directly controlled by LOS ANGELES CLEANTECH INCUBATOR

  • LACI IMPACT FUND LLC

    INVESTMENT · INVESTMENT · CA · 50% owned

    Directly controlled by LACI IMPACT GP LLC

  • LACI CLEANTECH DEBT FUND LP

    INVESTMENT · INVESTMENT · CA · general or managing partner

    Directly controlled by LACI IMPACT FUND II LLC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349314567

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