Lassen Economic Development Corp
- Assets
- $226.0k
- Revenue
- $968.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Westwood, CA
- Founding
- 06/1989
- Data as of
- 12/2022
- EIN
- 94-2644820
Organization Overview
Lassen Economic Development Corp is located in Westwood, CA. The organization was established in 1989. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Lassen Economic Development Corp employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lassen Economic Development Corp 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 12/2022, Lassen Economic Development Corp generated $968.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $906.4k during the year ending 12/2022. While expenses have increased by 7.7% per year over the past 8 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
TO PROVIDE WEATHERIZATION ASSISTANCE TO LOW-INCOME HOUSEHOLDS AND TO SUBSIDIZE ENERGY COSTS FOR LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEATHERIZATION SERVICES, ENERGY SUBISIDIES, EMERGENCY PROPANE, WOOD, OIL
WEATHERIZATION SERVICES, ENERGY SUBISIDIES, EMERGENCY PROPANE, WOOD, OIL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Beal Board Member | Trustee | $0 | |
Pam Pettengill Board Member | Trustee | $0 | |
David Rainey Board Member | Trustee | $0 | |
Ted Tamborski Board Member | Trustee | $0 | |
Roland Cantu President | Officer | $0 | |
Jim Carr Secretary | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $899,706 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,837 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $951,543 |
| Total Program Service Revenue | $0 |
| Investment income | $51 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $968,594 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $192,583 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,538 |
| Payroll taxes | $16,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,196 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100 |
| Advertising and promotion | $0 |
| Office expenses | $19,641 |
| Information technology | $18,481 |
| Royalties | $0 |
| Occupancy | $15,074 |
| Travel | $12,471 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,447 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,166 |
| Insurance | $11,350 |
| All other expenses | $0 |
| Total functional expenses | $906,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $742 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $178,313 |
| 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 | $11,218 |
| Prepaid expenses and deferred charges | $3,022 |
| Net Land, buildings, and equipment | $32,664 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $225,959 |
| Accounts payable and accrued expenses | $2,000 |
| 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 | $9,253 |
| Total liabilities | $11,253 |
| Net assets without donor restrictions | $214,706 |
| 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 | $225,959 |