Los Angeles Sports & Entertainment Commission
- Assets
- $11.3m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 12
- Location
- Los Angeles, CA
- Founding
- 07/1996
- Data as of
- 06/2021
- EIN
- 95-4541188
Organization Overview
Los Angeles Sports & Entertainment Commission is located in Los Angeles, CA. The organization was established in 1996. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 06/2021, Los Angeles Sports & Entertainment Commission employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Sports & Entertainment Commission 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 06/2021, Los Angeles Sports & Entertainment Commission generated $11.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $4.4m during the year ending 06/2021. While expenses have increased by 6.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WORK WITH THE CITY AND COUNTY OF LOS ANGELES TO BRING MAJOR SPORTING AND ENTERTAINMENT EVENTS TO LA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LASEC CREATED THE CHAMPIONLA PROGRAM TO SUPPORT UPCOMING EVENTS THAT POSITIVELY IMPACT THE DEVELOPMENT OF THE REGION. MAJOR EVENTS INCLUDE THE MLB ALL-STAR GAME, MLS ALL-STAR GAME, SUPER BOWL 2022, COLLEGE FOOTBALL PLAYOFF NATIONAL CHAMPIONSHIP 2023, AND THE 123RD U.S. OPEN CHAMPIONSHIP. LOS ANGELES IS A CANDIDATE FOR THE HOST CITY FOR THE 2026 FIFA MEN'S WORLD CUP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Schloessman President | OfficerTrustee | 40 | $251,574 |
Allison Citelli Vice President, Business Development | 40 | $136,694 | |
Irene Klepp Chief Financial Officer | Officer | 40 | $73,239 |
Michael Meyer Secretary | OfficerTrustee | 2 | $0 |
Carl Schuster Vice Chair | OfficerTrustee | 2 | $0 |
Bob Graziano Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,060,986 |
| Investment income | $137,995 |
| 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 | $11,679,905 |
| 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. | $607,057 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,080,107 |
| Pension plan accruals and contributions | $51,051 |
| Other employee benefits | $64,952 |
| Payroll taxes | $119,109 |
| Fees for services: Management | $273,985 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,207 |
| Information technology | $23,582 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,142 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,309 |
| Insurance | $31,114 |
| All other expenses | $0 |
| Total functional expenses | $4,427,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,026,023 |
| Savings and temporary cash investments | $4,763,605 |
| Pledges and grants receivable | $2,320,926 |
| Accounts receivable, net | $3,042,903 |
| 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 | $103,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,290,407 |
| Accounts payable and accrued expenses | $545,674 |
| Grants payable | $675,000 |
| Deferred revenue | $244,200 |
| 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 | $165,650 |
| Other liabilities | $0 |
| Total liabilities | $1,630,524 |
| Net assets without donor restrictions | $0 |
| 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 | $9,659,883 |
Grants Awarded
Over the last fiscal year, Los Angeles Sports & Entertainment Commission has awarded $41,186 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Los Angeles, CA PURPOSE: YOUTH GOLF PROGRAMS | $11,593 |
Los Angeles, CA PURPOSE: YOUTH GOLF PROGRAMS | $11,593 |
Los Angeles, CA PURPOSE: TO SECURE AND PROMOTE WORLD CUP 2026 IN LOS ANGELES | $9,000 |
Los Angeles, CA PURPOSE: TO SECURE AND PROMOTE WORLD CUP 2026 IN LOS ANGELES | $9,000 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Los Angeles Sports & Entertainment Commission has recieved totaling $2,597,200.
| Awarding Organization | Amount |
|---|---|
Wasserman Foundation Los Angeles, CA PURPOSE: CHAMPION LA | $1,000,000 |
Kennedy Wilson Charitable Foundation Beverly Hills, CA PURPOSE: GENERAL SUPPORT | $500,000 |
The Annenberg Foundation Conshohocken, PA PURPOSE: CHAMPIONLA | $500,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ARTS AND CULTURE | $200,000 |
Joseph Drown Foundation Los Angeles, CA PURPOSE: CHAMPION LA OPERATING SUPPORT | $100,000 |
Allison And Bennett Rosenthal Charitable Foundation Florham Park, NJ PURPOSE: GENERAL UNRESTRICTED | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brentwood Country Club Los Angeles Los Angeles, CA | $23,132,093 | $17,679,018 |
Waialae Country Club Honolulu, HI | $40,629,667 | $20,651,940 |
Track Town Usa Inc Eugene, OR | $22,816,196 | $29,424,138 |
Eldorado Country Club Indian Wells, CA | $45,757,738 | $18,170,181 |
Paradise Valley Country Club Inc Paradise Valley, AZ | $41,632,521 | $18,336,957 |
Sharon Heights Golf & Country Club Menlo Park, CA | $51,835,070 | $19,221,394 |
Rolling Hills Country Club Rolling Hills Estates, CA | $71,103,768 | $16,906,847 |
Diablo Country Club Diablo, CA | $28,795,018 | $17,234,644 |
Ironwood Country Club Palm Desert, CA | $36,309,619 | $13,754,726 |
Los Altos Golf & Country Club Los Altos, CA | $30,864,685 | $15,701,239 |
Claremont Country Club Oakland, CA | $32,521,867 | $15,512,670 |
St Francis Yacht Club San Francisco, CA | $21,989,998 | $14,152,861 |