World Trade Center Association Los Angeles-Long Beach
- Assets
- $842.1k
- Revenue
- $412.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 03/2007
- Data as of
- 06/2022
- EIN
- 33-0190964
Organization Overview
World Trade Center Association Los Angeles-Long Beach is located in Los Angeles, CA. The organization was established in 2007. 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. World Trade Center Association Los Angeles-Long Beach 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, World Trade Center Association Los Angeles-Long Beach generated $412.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $275.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 8 years. 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
WTCLA'S MISSION IS DEDICATED TO ATTRACTING FOREIGN DIRECT INVESTMENT TO THE LOS ANGELES REGION AND TRADE FACILITATION. THE WTCLA PROVIDES BUSINESS ASSISTANCE TO INTERNATIONAL COMPANIES SEEKING TO LOCATE OR EXPAND OPERATIONS IN LOS ANGELES, AND TO LOCAL COMPANIES SEEKING TO EXPORT PRODUCTS AND SERVICES TO THE INTERNATIONAL MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO EDUCATE AND PROVIDE CONSULTING SERVICES TOWARD IMPROVING WORLD TRADE AND INTERNATIONAL COMMERCE IN THE REGION, PROVIDING CERTAIN SERVICES AND RESOURCES INCLUDING BUT NOT LIMITED TO; A LIBRARY OF TRADE PUBLICATIONS AND OTHER INFORMATION SERVICES; EDUCATIONAL PROGRAMS AND SEMINARS ON TRADE AND INTERNATIONAL BUSINESS; TRANSLATION SERVICES ; AND PROMOTE GOOD PUBLIC RELATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William C Allen CEO | OfficerTrustee | 1 | $0 |
Rudy Medina Chairperson | OfficerTrustee | 1 | $0 |
Susan Stel Exec. Vice Pres./cfo | OfficerTrustee | 1 | $0 |
Stephen Cheung President/exec. Vice Pres./coo | OfficerTrustee | 1 | $0 |
Kendal R Turner Exec. Vice Pres./cfo | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $320,000 |
| Investment income | $0 |
| 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 | $412,649 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| 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 | $167,998 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,438 |
| Advertising and promotion | $2,624 |
| Office expenses | $21,908 |
| Information technology | $1,078 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,313 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,838 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,967 |
| All other expenses | $0 |
| Total functional expenses | $275,021 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,408 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $186,500 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $484,171 |
| Total assets | $842,079 |
| Accounts payable and accrued expenses | $309,377 |
| Grants payable | $0 |
| Deferred revenue | $17,545 |
| 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 | $568,635 |
| Total liabilities | $895,557 |
| Net assets without donor restrictions | -$53,478 |
| 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 |
| Total liabilities and net assets/fund balances | -$53,478 |