2023-11-13T09:57:25-06:00 2022-12-31 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 1100 LOS ANGELES CA 90024 990 2022-01-01 952597392 LOS ANGELES AREA CHAMBER OF COMMERCE FOUNDATION LOSA 2135807521 350 SOUTH BIXEL STREET 201 LOS ANGELES CA 90017 MARIA SALINAS CEO 2135807521 2023-11-10 1 MARIA SALINAS 999009999 0 NANAZ BENYAMINI P00666808 3104773924 2023-11-10 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARIA SALINAS 350 SOUTH BIXEL STREET 201 LOS ANGELES CA 90017 1220365 0 X WWW.LACHAMBER.ORG X 1968 CA ADVANCE AND SUPPORT EFFORTS THAT ELIMINATE BARRIERS AND MAXIMIZE OPPORTUNITIES FOR ECONOMIC PROSPERITY. 41 40 0 40 0 0 188100 1219365 0 0 0 0 0 1000 188100 1220365 10000 0 0 0 53318 527544 0 0 50134 173877 720839 237195 1248383 -49095 -28018 495999 600724 405738 538481 90261 62243 X SEE SCHEDULE O 0 0 1182391 SEE SCHEDULE O 1182391 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 7 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 41 40 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 CA X X MARTIN BREIDSPRECHER 2135807520 350 SOUTH BIXEL STREET LOS ANGELES CA 90017 MARTIN MARTY HODGETT DIRECTOR 1.00 1.00 X 0 0 0 CAMERON ONUMAH DIRECTOR 1.00 1.00 X 0 0 0 LUPITA SANCHEZ-CORNEJO DIRECTOR 1.00 1.00 X 0 0 0 STEPHEN FINNEGAN DIRECTOR 1.00 1.00 X 0 0 0 RAUL A ANAYA IMMEDIATE PAST CHAIR 2.00 2.00 X X 0 0 0 MICHELE RUIZ DIRECTOR 1.00 1.00 X 0 0 0 MARK LOUCHHEIM CHAIR 2.00 2.00 X X 0 0 0 WHITNEY O'NEILL-ENGLANDER DIRECTOR 1.00 1.00 X 0 0 0 JEFF WILSON DIRECTOR 1.00 1.00 X 0 0 0 NICOLE J SIMONIAN DIRECTOR 1.00 1.00 X 0 0 0 DANA DEBEL DIRECTOR 1.00 1.00 X 0 0 0 JEROLD B JERRY NEUMAN DIRECTOR 1.00 1.00 X 0 0 0 ANDY PARK DIRECTOR 1.00 1.00 X 0 0 0 TAYLOR HATHAWAY-ZEPEDA DIRECTOR 1.00 1.00 X 0 0 0 WAYNE FEUERBORN DIRECTOR 1.00 1.00 X 0 0 0 FRANCISCO URIBE DIRECTOR 1.00 1.00 X 0 0 0 JOSE A HERNANDEZ DIRECTOR 1.00 1.00 X 0 0 0 MICHELLE GASKILL-HAMES DIRECTOR 1.00 1.00 X 0 0 0 PHILLIP TATE DIRECTOR 1.00 1.00 X 0 0 0 GREGORY T GEYER DIRECTOR 1.00 1.00 X 0 0 0 AUGUSTAVIA AUGIE J HAYDEL DIRECTOR 1.00 1.00 X 0 0 0 MYRA MARAYAG DIRECTOR 1.00 1.00 X 0 0 0 RENATA SIMRIL DIRECTOR 1.00 1.00 X 0 0 0 MARIA SALINAS VICE CHAIR & CEO 3.00 40.00 X X 0 605844 29516 AG SPANOS FIRST VICE CHAIR 2.00 2.00 X X 0 0 0 FRANCISCO RODRIGUEZ DIRECTOR 1.00 1.00 X 0 0 0 FRAN INMAN DIRECTOR 1.00 1.00 X 0 0 0 PHILIP R RECHT DIRECTOR 1.00 1.00 X 0 0 0 STEVE NISSEN DIRECTOR 1.00 1.00 X 0 0 0 TODD WILSON DIRECTOR 1.00 1.00 X 0 0 0 MARIO CORDERO DIRECTOR 1.00 1.00 X 0 0 0 EUGENE GENE D SEROKA DIRECTOR 1.00 1.00 X 0 0 0 LARRY CHUNG DIRECTOR 1.00 1.00 X 0 0 0 ERIN SMITH DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL OCHOA DIRECTOR 1.00 1.00 X 0 0 0 JANET LAMKIN SECOND VICE CHAIR 2.00 2.00 X X 0 0 0 BRISSA SOTELO-VARGAS DIRECTOR 1.00 1.00 X 0 0 0 RANDAL J HERNANDEZ DIRECTOR 1.00 1.00 X 0 0 0 LISA PITNEY DIRECTOR 1.00 1.00 X 0 0 0 CHARLENE DIMAS-PEINADO DIRECTOR 1.00 1.00 X 0 0 0 BRYAN MOELLER DIRECTOR 1.00 1.00 X 0 0 0 MARTIN BREIDSPRECHER CHIEF OPERATING OFFICER 3.00 40.00 X 0 279030 31850 0 884874 61366 0 0 1 0 CMG ALLIANCE 4424 FOXRUN DR CHINO HILLS CA 91709 PROGRAM TRAINING & ADVISING 224242 1 291793 927572 1219365 MISC INCOME 900099 1000 1000 1000 1220365 0 0 1000 X 454079 415293 9320 29466 41418 38637 668 2113 32047 29895 517 1635 15481 13069 580 1832 3142 3142 7765 6224 370 1171 EVENT AND PROGRAM 500887 500887 AFFILIATE FEES 175341 160656 3529 11156 COMPUTER EXPENSE 10913 8746 521 1646 STAFF TRAINING 5388 4319 257 812 1922 1523 96 303 1248383 1182391 15858 50134 328331 52168 13856 413422 151930 65904 93791 86026 60021 49108 495999 600724 116591 452090 192756 10000 96391 76391 405738 538481 X -43073 49743 133334 12500 90261 62243 495999 600724 -28018 0 X 0 1 X 1 0 X 3092982 2764398 441090 188100 1220365 7706935 3092982 2764398 441090 188100 1220365 7706935 0 0 0 7706935 1312167 1431500 149931 2893598 17846 14853 91148 123847 4422995 4210751 682169 188100 1220365 10724380 0.71860 0.68190 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 151930 65904 86026 86026 OTHER ASSET - CRM 49108 49108 X 1220365 0 1220365 0 1220365 1248383 0 1248383 0 1248383 PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE 23701(D). U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. X X X X 0 0 0 0 0 0 0 0 0 MARIA SALINAS VICE CHAIR & CEO 0 538844 0 67000 0 0 0 18140 0 11376 0 635360 0 0 MARTIN BREIDSPRECHER CHIEF OPERATING OFFICER 0 244030 0 35000 0 0 0 8766 0 23084 0 310880 0 0 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. FORM 990, PART III, LINE 1 VISION: THE CREATION OF A MORE DIVERSE, EQUITABLE, AND INCLUSIVE THRIVING REGION FOR ALL. MISSION: ADVANCE AND SUPPORT EFFORTS THAT ELIMINATE BARRIERS AND MAXIMIZE OPPORTUNITIES FOR ECONOMIC PROSPERITY. INITIATIVES: ENSURE THE LOS ANGELES REGION IS A DESIRABLE PLACE TO CONDUCT BUSINESS, AND WORK TO MAKE THE REGION AN AFFORDABLE PLACE TO LIVE, WORK, AND LEARN. PROMOTE AND SUPPORT EMERGING INDUSTRIES, BUSINESSES AND ENTREPRENEURS. PROMOTE INVESTMENTS IN INFRASTRUCTURE AND CONNECTIVITY THAT DRIVE THE REGIONAL ECONOMY. SUPPORT THE GEOGRAPHICALLY DIVERSE COMPOSITION OF THE ECONOMY. FORM 990, PART III, LINE 4A THE CHAMBER FOUNDATION IS CURRENTLY IMPLEMENTING PROGRAMS IN ONE ON ONE TECHNICAL ASSISTANCE AND PROCUREMENT TRAINING, AND CONDUCTS WORKSHOPS TO INCREASE SMALL BUSINESS CAPACITY FOR COMMUNITIES THAT HAVE BEEN HISTORICALLY UNDERSERVED. DURING THE PERIOD BETWEEN JUNE 2021 THROUGH JUNE 2022, THE CHAMBER FOUNDATION HAS ASSISTED 2,383 SMALL BUSINESSES DIRECTLY. THE RBA PROGRAM PROVIDES ONE-ON-ONE ADVISORY AND CAPACITY BUILDING SERVICES TO SMALL BUSINESSES IN AREAS SUCH AS BUSINESS STRATEGY, RESILIENCE, WORKPLACE GROWTH/SAFETY, MARKETING, AND ACCESS TO CAPITAL AND CONTRACTING. THE ONELA INCLUSIVE PROCUREMENT PROGRAM TRAINS AND ASSISTS SMALL BUSINESS PARTICIPANTS IN CONTRACT OPPORTUNITIES WITH GOVERNMENT AGENCIES. PHASE 1 TRAINING INTRODUCES SMALL BUSINESSES TO GOVERNMENT CONTRACTING, CERTIFICATION REQUIREMENTS, DEVELOPING CAPABILITIES STATEMENTS, OPPORTUNITY RESOURCES, CONTRACTING INSTRUMENTS, AND PROGRAM MANAGEMENT. PHASE 2 ASSISTS SMALL BUSINESSES WHO ARE CONTRACT READY TO SEEK OPPORTUNITIES THROUGH BUSINESS DEVELOPMENT ADVISING, MINING AND MATCHING OPPORTUNITIES, EVALUATING OPPORTUNITIES, AND ASSISTING IN THE DEVELOPMENT OF THE PROPOSAL PACKAGE. AS A RESULT OF THESE TWO PROGRAMS, THE CHAMBER FOUNDATION HAS ASSISTED A TOTAL OF 677 SMALL BUSINESSES. OF THE 677 SMALL BUSINESSES, 276 WERE BLACKED OWNED (41%), 119 LATINO(A) OWNED (18%), 390 WOMEN OWNED (58%), 49 VETERANS OWNED (7%), 29 LGBTQ+ OWNED (4%), AND 72 ASIAN OWNED BUSINESS (11%). THE PROCUREMENT TRAINING, WITH A TOTAL INVESTMENT OF APPROXIMATELY $300,000 TO DATE, HAVE GENERATED CONTRACTS AWARDS OF $38 MILLION FOR OUR SMALL BUSINESSES. PROVING TO BE AN EFFECTIVE PROGRAM FOR OUR SMALL BUSINESSES AND A HIGHLY SUCCESSFUL RETURN ON INVESTMENT. FORM 990, PART VI, SECTION B, LINE 11B LA CHAMBER FOUNDATION DRAFT 990 TAX AND RELATED SCHEDULES ARE PREPARED WITH OUTSIDE SUPPORT AND COORDINATION BY FOUNDATION CHIEF FINANCIAL OFFICER. FORM 990, PART VI, SECTION B, LINE 12C PERSONS COVERED UNDER THE ORGANIZATION'S CONFLICT OF INTEREST POLICY INCLUDE ITS BOARD OF DIRECTORS, EXECUTIVE COMMITTEE, OFFICERS AND KEY EMPLOYEES. PURSUANT TO THE POLICY, PERSONS HAVE A DUTY TO DISCLOSE REAL, PERCEIVED, AND POTENTIAL DIRECT AND INDIRECT CONFLICTS. THE INFORMATION IS FORWARDED TO THE AUDIT COMMITTEE FOR REVIEW AND DETERMINATION. IF A CONFLICT IS BELIEVED TO EXIST, THE AUDIT COMMITTEE DETERMINES WHETHER TO AUTHORIZE OR REJECT THE TRANSACTION OR TAKE ANY OTHER ACTION DEEMED NECESSARY TO ADDRESS THE CONFLICT AND PROTECT THE ORGANIZATION'S BEST INTERESTS. IF THE AUDIT COMMITTEE HAS REASONABLE CAUSE TO BELIEVE ACTUAL OR POSSIBLE CONFLICTS WERE NOT DISCLOSED, THE AUDIT COMMITTEE IS EMPOWERED TO INVESTIGATE AND TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS ALSO OPEN FOR PUBLIC INSPECTION ON WWW.GUIDESTAR.ORG FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REASONABLE REQUEST. FORM 990, PART IX, LINES 7-10: WHILE THE FOUNDATION DOES NOT ISSUE ITS OWN FORM W-2 FOR EMPLOYEES, THE FOUNDATION SHARES CERTAIN PAYROLL AND OTHER ADMINISTRATIVE FUNCTIONS WITH LOS ANGELES AREA CHAMBER OF COMMERCE, A RELATED NONPROFIT ORGANIZATION. THE FOUNDATION 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. THESE ARE THE COSTS REPORTED ON PART IX LINES 7-10. LOS ANGELES AREA CHAMBER OF COMMERCE 350 SOUTH BIXEL ST SUITE 201 LOS ANGELES CA 90017 950947860 CHAMBER CA 501(C)(6) N/A N/A 0 LA JOBS PAC 350 SOUTH BIXEL STREET LOS ANGELES CA 90017 205731010 PAC CA 527 LACC 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 LOS ANGELES AREA CHAMBER OF COMMERCE M 175341 ACTUAL COST LOS ANGELES AREA CHAMBER OF COMMERCE O 420506 ACTUAL COST