2024-05-15T12:52:36-05:00 2023-06-30 330700332 VASQUEZ COMPANY LLP 655 N CENTRAL AVE STE 1550 GLENDALE CA 91203 990 2022-07-01 330190964 WORLD TRADE CENTER ASSOCIATION LOS ANGELES - LONG BEACH WORL 2132364826 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 KENDAL TURNER CHIEF FINANCIAL OFFICER 2132364826 2024-05-14 1 KENDAL TURNER 999009999 0 REGINA PRINCE CPA P00576936 2138731700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KENDAL TURNER 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 460078 0 X HTTP://WWW.LAEDC.ORG X 1986 CA 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. 2 0 1 81 0 0 320000 410000 92649 50078 0 0 0 0 412649 460078 0 0 0 0 0 0 0 0 0 275021 234713 275021 234713 137628 225365 842079 855765 895557 683878 -53478 171887 X 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. 0 0 191690 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. 191690 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 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 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 2 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 CA X KENDAL TURNER 2132364826 444 S FLOWER STREET 37TH FL LOS ANGELES CA 90071 WILLIAM C ALLEN CEO 20.00 42.00 X X 0 490196 38582 STEPHEN CHEUNG PRESIDENT AND COO 20.00 42.00 X X 0 318425 38845 KENDAL R TURNER EXEC. VICE PRES./CFO 20.00 42.00 X 0 255467 33480 0 1064088 110907 0 0 1 0 0 220000 100000 90000 410000 SERVICE CONTRACTS 541720 50078 50078 50078 460078 50078 0 0 X 143409 114727 28682 19597 19597 30035 24028 6007 917 734 183 8449 6759 1690 3005 2404 601 13760 11008 2752 2000 1600 400 DUES & SUBSCRIPTIONS 12500 10000 2500 OTHER EXPENSES 1041 833 208 234713 191690 43023 0 171408 40112 186500 320000 17558 17558 0 0 484171 495653 842079 855765 309377 24203 17545 568635 659675 895557 683878 X -53478 171887 -53478 171887 842079 855765 225365 0 X 0 1 X 1 0 X 446000 358000 374639 320000 460078 1958717 446000 358000 374639 320000 460078 1958717 97303 1861414 1958717 332007 0.95030 0.94550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17558 17558 0 0 INTERCOMPANY RECEIVABLE 495653 495653 INTERCOMPANY PAYABLE 659675 659675 X 8653512 84552 8108882 8193434 460078 0 460078 8258019 84552 7938754 8023306 234713 0 234713 PART X, LINE 2: WTCLA IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE AND IS GENERALLY NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. NO INCOME TAX PROVISION HAS BEEN RECORDED FOR THE YEARS ENDED JUNE 30, 2023 AND 2022 AS THE NET INCOME, IF ANY, FROM ANY UNRELATED TRADE OR BUSINESS, IN THE OPINION OF MANAGEMENT, IS NOT MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS TAKEN AS A WHOLE U.S. GAAP REQUIRES THAT AN ORGANIZATION RECOGNIZE IN THE FINANCIAL STATEMENTS THE IMPACT OF A TAX POSITION IF THAT POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. AS OF AND FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, WTCLA HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS, TAX PENALTIES OR INTEREST. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE FOR AFFILIATES 8,108,882. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FOR AFFILIATES 7,938,754. 0 0 0 0 0 0 0 0 0 WILLIAM C ALLEN CEO 0 390000 0 100000 0 196 0 18300 0 20282 0 528778 0 0 STEPHEN CHEUNG PRESIDENT AND COO 0 293229 0 25000 0 196 0 18300 0 20545 0 357270 0 0 KENDAL R TURNER EXEC. VICE PRES./CFO 0 235271 0 20000 0 196 0 12441 0 21039 0 288947 0 0 PART I LINE 3 THE ORGANIZATION'S CEO IS COMPENSATED BY A RELATED ORGANIZATION, ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY (LAEDC), WHERE REVIEWING AND APPROVING THE COMPENSATION OF ITS OFFICERS AND KEY WITH THE GOAL OF RETAINING EMPLOYEES AT COMPENSATION LEVELS WITHIN PAID TO MR. ALLEN INCLUDES THE APPROVAL OF THE COMPENSATION ARRANGEMENT HE SERVES AS THE PRESIDENT/CEO. LAEDC'S BOARD HAS A PROCESS FOR EMPLOYEES ON A REGULAR BASIS TO DETERMINE IT IS FAIR AND REASONABLE APPROPRIATE MARKET VALUE. THE PROCESS FOR DETERMINING THE COMPENSATION IN ADVANCE, WITH ALL PERSONS WITH A CONFLICT OF INTEREST ABSTAINING FROM THE DELIBERATION AND DISCUSSION OF THE TRANSACTION. THE BOARD OF DIRECTORS REVIEWS DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES AT SIMILARLY SITUATED ENTITIES. THE DOCUMENTATION IN THE BOARD MINUTES INCLUDES THE TERMS OF THE TRANSACTION AND THE DATE OF APPROVAL, THE MEMBERS WHO WERE PRESENT DURING THE DEBATE AND VOTE ON THE TRANSACTION, A DESCRIPTION OF THE COMPARABLE DATA AND HOW IT WAS OBTAINED, AND DOCUMENTATION OF THE BASIS FOR THE DETERMINATION. FORM 990, PART VI, SECTION B, LINE 11B THE LAEDC'S OUTSIDE AUDITORS AND FINANCE STAFF PREPARE THE FORM 990. THE FORM IS SUBMITTED FOR REVIEW TO THE GOVERNANCE COMMITTEE AND AUDIT COMMITTEE. THE FORM AND ALL SCHEDULES IS THEN PROVIDED TO THE FULL BOARD BEFORE E-FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C WORLD TRADE CENTER ASSOCIATION LOS ANGELES-LONG BEACH (WTCLA) REQUIRES THAT BOARD MEMBERS, OFFICERS AND EMPLOYEES SHALL NOT HAVE UNDISCLOSED FINANCIAL INTERESTS THAT CONFLICT OR APPEAR TO CONFLICT WITH HIS OR HER RESPONSIBILITIES WITH WTCLA. WTCLA REQUIRES DISCLOSURE OF ALL SOURCES OF INCOME FROM COMPENSATION OR FROM OWNERSHIP OF EVERY OUTSIDE ENTITY THAT (A) SOLD, SUPPLIED OR PROVIDED SERVICES, (B) OPERATED A COMPETING ENTERPRISE, OR(C) PROVIDED GOODS OR SERVICES TO WTCLA IN THE LAST SIX MONTHS. WTCLA'S CFO EVALUATES THE FORMS FOR POTENTIAL CONFLICTS OF INTEREST. WTCLA ALSO REQUIRES ALL DIRECTORS TO ANNUALLY SIGN A STATEMENT AFFIRMING (A) RECEIPT OF WTCLA'S CONFLICT OF INTEREST POLICY, (B) UNDERSTANDING OF THE POLICY, AND (C) AGREEMENT WITH THE POLICY FORM 990, PART VI, SECTION C, LINE 19 SOME OR ALL OF THESE ITEMS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 19,597. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,597. ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 953643339 PROMOTE AND ASSIST GROWTH OF JOBS IN THE LA COUNTY REGION CA 501(C)(3) LINE 7 0 CALIFORNIA INDUSTRY EDUCATION INSTITUTE 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 954482044 DEVELOPING PROGRAMS WITH CA COLLEGES TO ASSIST THE GROWTH OF JOBS IN LA CNTY CA 501(C)(3) LINE 7 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 0 ACTIVATE LA INCFKA EDC PRODUCT DEVELOPMENT FUND INC 444 SOUTH FLOWER STREET 37TH FLOOR LOS ANGELES CA 90071 954482158 EASE THE BURDENS OF GOVERNMENT BY ASSISTING ACTIVITIES OF A PUBLIC NATURE CA 501(C)(3) LINE 7 ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 EOCNOMIC DEVELOPMENT CORP OF LOS ANGELES COUNTY C 220000 BOOK EOCNOMIC DEVELOPMENT CORP OF LOS ANGELES COUNTY P 143409 COST