2025-04-21T00:45:33-05:00 2024-06-30 953001179 WINDES INC 2050 MAIN ST STE 1300 IRVINE CA 92614 990 2023-07-01 952546360 ECONOMIC RESOURCES CORPORATION ECON 3105374610 2600 INDUSTRY WAY LYNWOOD CA 90262 SAMUEL HUGHES PRESIDENT & CEO 3105374610 2025-04-10 1 1 ELEANOR A LIVINGSTON CPA MST P00226461 9498529433 2025-04-10 2023 2025-03-06 01:10:19Z SAMUEL HUGHES 2600 INDUSTRY WAY LYNWOOD CA 90262 13472581 0 X WWW.ECONOMICRESOURCES.ORG X 1968 CA TO PROMOTE ECONOMIC GROWTH AND INCREASED JOB OPPORTUNITY IN UNDER-SERVED COMMUNITIES BY SUPPORTING BUSINESS DEVELOPMENT, INVESTING IN COMMERCIAL AND INDUSTRIAL REAL ESTATE AND PROVIDING EMPLOYMENT OPPORTUNITIES. 10 9 7 10 0 0 41977 121910 4258242 4711366 247519 587349 3975 131351 4551713 5551976 0 0 0 0 1155802 1250219 0 0 0 1559870 1505764 2715672 2755983 1836041 2795993 24184491 27123071 1405129 1565561 22779362 25557510 X TO PROMOTE ECONOMIC GROWTH AND INCREASED JOB OPPORTUNITY IN UNDER-SERVED COMMUNITIES BY SUPPORTING BUSINESS DEVELOPMENT, INVESTING IN COMMERCIAL AND INDUSTRIAL REAL ESTATE AND PROVIDING EMPLOYMENT OPPORTUNITIES. 0 0 2280837 4717179 SEE SCHEDULE OERC HAS DEDICATED ITSELF TO PROVIDING LOCAL SMALL BUSINESSES WITH PROFESSIONAL TECHNICAL ASSISTANCE IN ORDER TO ENHANCE OPPORTUNITIES FOR GROWTH AND SUCCESS. ERC WORKS TO ACCOMPLISH THIS GOAL BY HELPING SMALL COMPANIES, MANY OF THEM TENANTS IN THE COMPLEX, IMPROVE THEIR OPERATIONS EITHER DIRECTLY OR THROUGH REFERRALS IN THE AREAS OF BUSINESS STRATEGY, FINANCIAL MANAGEMENT AND OPERATIONAL MANAGEMENT. IN ADDITION TO ASSISTING TENANTS OF THE COMPLEX, AS WELL AS OTHERS, ERC HELPS COMMUNITIES DEVISE STRATEGIES TO REMOVE BLIGHT, INCREASE JOB OPPORTUNITIES AND IMPROVE THE LOCAL INFRASTRUCTURE. ERC DOES THIS BY WORKING WITH COMMUNITY GROUPS AND CONCERNED INDIVIDUALS TO HELP THEM BUILD CAPACITY TO POSITIVELY AFFECT THEIR LOCAL NEIGHBORHOODS AND IMPROVE THE QUALITY OF LIFE, WITH A FOCUS ON ECONOMIC OPPORTUNITY. ERC ALSO WORKS WITH LOCAL MUNICIPALITIES AND NON-PROFITS TO ASSIST THEM IN CARRYING OUT THEIR INDIVIDUAL ECONOMIC DEVELOPMENT INITIATIVES. ERC ASSISTS THESE EFFORTS THROUGH PLANNING STUDIES, FOCUS GROUPS, LAND USE STUDIES AND CONSULTING. IN ORDER TO MAKE LASTING CHANGE TO DISTRESSED COMMUNITIES, AS WELL AS THE AREA SURROUNDING THE COMPLEX, THE ECONOMY MUST BE STRENGTHENED. TO DO THIS, ERC IS ACTIVELY INVOLVED IN THE RECRUITMENT AND RETENTION OF BUSINESSES TO UNDERSERVED COMMUNITIES BY INITIATIVES IN REAL ESTATE DEVELOPMENT, ASSISTING IN THE IDENTIFICATION AND RETROFITTING OF FACILITIES FOR NEW AND GROWING COMPANIES AND INTRODUCING LOCAL EMPLOYERS TO THE ECONOMIC INCENTIVE PROGRAMS THAT ARE AVAILABLE TO THEM. 2280837 1 1 0 0 0 0 0 0 0 0 1 0 0 0 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 1 1 1 0 0 0 1 46 0 1 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X NANCY IKEGAMI 3105374610 2600 INDUSTRY WAY LYNWOOD CA 90262 SAMUEL HUGHES PRESIDENT/CEO 38.00 X X 325621 0 31936 MICHAEL NAGIN DIRECTOR 1.00 X 0 0 0 TRACEY MITCHEL-LAI DIRECTOR 1.00 X 0 0 0 ANDREA COHEN JACKSON DIRECTOR 1.00 X 0 0 0 HOONIE KANG DIRECTOR 1.00 X 0 0 0 TORI FISK DIRECTOR 1.00 X 0 0 0 CAREY JENKINS DIRECTOR 1.00 X 0 0 0 JIDE ALADE DIRECTOR 1.00 X 0 0 0 CHARLES MCLURKIN DIRECTOR 1.00 X 0 0 0 CHRISTINE VILLEGAS DIRECTOR 1.00 X 0 0 0 KYLE DAVIS DIRECTOR (THRU 01/2024) 1.00 X 0 0 0 NANCY H IKEGAMI VP OF FINANCE 38.00 X 194928 0 18452 ALBERT CARROL INVESTMENT MANAGER 38.00 X 193131 0 13339 713680 0 63727 3 0 1 0 PREFERRED MODULAR STRUCTURES INC 3235 BELGIAN DR NORCO CA 92860 CONSTRUCTION 774031 GLOBAL NETWORK SECURITY INC 5042 WILSHIRE BLVD LOS ANGELES CA 90035 SECURITY SERVICES 162839 ALLIED PAVING CO 13912 NEWHOPE ST GARDEN GROVE CA 92843 PAVING SERVICES 158450 ENVIRON ARCHITECTURE INC 100 OCEANGATE P200 LONG BEACH CA 90802 ARCHITECTURE 125156 PRECISION MECHANICAL 5644 E WESTOVER AVE STE 102 FRESNO CA 93727 COOLING/HEATING SERVICES 122050 6 116910 5000 121910 BUSINESS PARK LEASE 531120 4692299 4692299 BUSINESS PARK ADMIN 531120 19067 19067 4711366 577315 577315 7930639 7920605 10034 10034 10034 WELFARE TAX EXPENSE REFUND 900099 125538 125538 LOCAL INITIATIVE SUPPORT CORP 900099 5813 5813 131351 5551976 4717179 0 712887 582110 436583 145527 476797 361631 115166 116248 87839 28409 6290 4756 1534 68774 51856 16918 28849 25524 3325 43672 43672 81794 64981 16813 128078 86882 41196 604368 604368 403370 368795 34575 104972 99467 5505 REPAIRS AND MAINTENANCE 67231 67231 43430 20924 22506 2755983 2280837 475146 0 228223 149547 5469919 5567377 23581 142820 208344 262142 21766912 8770967 10305090 12995945 7448689 7496557 442184 447183 28773 28773 29688 32727 24184491 27123071 444127 338077 798446 961002 429038 1405129 1565561 X 22779362 25557510 22779362 25557510 24184491 27123071 2795993 -17845 0 X 0 1 X 1 0 X 89630 200877 3415567 41977 121910 3869961 89630 200877 3415567 41977 121910 3869961 3869961 416224 81768 60349 230774 577315 1366430 14836 285559 144146 3975 131351 579867 5816258 20437616 0.66540 0.73840 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: LENDISTRY - 2020 AMOUNT: $ 270,000. 2021 AMOUNT: $ 135,000. LISC - 2021 AMOUNT: $ 2,325. 2022 AMOUNT: $ 3,975. 2023 AMOUNT: $ 5,813. OTHER INCOME - 2019 AMOUNT: $ 8,480. 2020 AMOUNT: $ 6,661. INTEREST INCOME - RLF - 2019 AMOUNT: $ 6,356. 2020 AMOUNT: $ 8,898. 2021 AMOUNT: $ 6,821. WELFARE TAX EXPENSE REFUND - 2023 AMOUNT: $ 125,538. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4057499 4057499 17445103 8608224 8836879 242496 147109 95387 21814 15634 6180 12995945 DEFERRED COMPENSATION 429038 429038 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE INTERNAL REVENUE CODE SECTION 501 (C)(3) AND SECTION 23701 (D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. INCOME TAXES ON LIMITED LIABILITY COMPANY (LLC) INCOME ARE LEVIED ON THE MEMBERS IN THEIR INDIVIDUAL CAPACITY. ACCORDINGLY, ALL PROFITS AND LOSSES OF THE SUBSIDIARY LLCS ARE RECOGNIZED BY THE MEMBER ON ITS RESPECTIVE TAX RETURN. THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS IN ACCORDANCE WITH U.S. GAAP REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. THE INTERNAL REVENUE SERVICE HAS DETERMINED AND STATED IN A DETERMINATION LETTER THAT SPECIFIC SUBSIDIARIES OF THE ORGANIZATION ARE EXEMPT FROM INCOME TAX UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT DOES NOT BELIEVE THAT ANY OF THE SUBSIDIARIES OPERATIONS SUBJECTS THE ORGANIZATION TO UNRELATED BUSINESS INCOME TAX. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE TO FOUR OF TAX RETURNS FILED, RESPECTIVELY. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. X 0 1 0 0 0 1 1 0 0 SAMUEL HUGHES PRESIDENT/CEO 325621 0 0 0 0 0 30309 0 1627 0 357557 0 0 0 NANCY H IKEGAMI VP OF FINANCE 166284 0 28644 0 0 0 16825 0 1627 0 213380 0 0 0 ALBERT CARROL INVESTMENT MANAGER 169261 0 23870 0 0 0 11712 0 1627 0 206470 0 0 0 PART I, LINE 4B SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN: SAM HUGHES - $20,000 NANCY IKEGAMI - $10,000 ALBERT CARROL - $10,000 PART I, LINE 6 BONUSES ARE BASED ON VARIOUS PERFORMANCE FACTORS: BUSINESS PLAN/MISSION OBJECTIVES, RETENTION, OCCUPANCY AND OPERATING INCOME COMPARED TO BUDGET. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE OFFICERS AND VP OF FINANCE PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C POLICY IS PROVIDED TO EACH BOARD OF DIRECTORS AFTER A NEW DIRECTOR IS APPOINTED AND IS REQUESTED THAT HE OR SHE REPORT ANY REAL OR POTENTIAL CONFLICTS OF INTEREST TO THE CORPORATION'S LEGAL COUNSEL. THE POLICY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE PRESIDENT REVIEWS THE SALARIES OF THE OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, THE CORPORATION'S CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE CORPORATION'S PLACE OF BUSINESS. 3001 WEST VERNON LLC 3001 W VERNON AVE LOS ANGELES CA 90062 473839269 RENTAL CA 220621 1162742 ERC 2299 PACIFIC AVE LLC 2299 PACIFIC AVE LOS ANGELES CA 90062 813847712 RENTAL CA 92021 1974116 ERC ERC LOAN FUND LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 952546360 RENTAL CA ERC ERC CAPITAL FUND LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 952546360 RENTAL CA ERC 2555 INDUSTRY WAY LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871048741 RENTAL DE 433463 831390 ERC 2575 INDUSTRY WAY LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871068071 RENTAL DE 335467 806470 ERC 2590-2610 INDUSTRY WAY LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871084702 RENTAL DE 496173 964217 ERC 2620-2640 INDUSTRY WAY LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871119521 RENTAL DE 611222 940285 ERC 2643-2645 INDUSTRY WAY LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871137054 RENTAL DE 375282 814586 ERC 3201-3221 ALAMEDA ST LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871159421 RENTAL DE 1014302 1823675 ERC 11705 YAMAMOTO PL LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871185456 RENTAL DE 741740 1200323 ERC 11861-11865 S ALAMEDA ST LLC 2600 INDUSTRY WAY LYNWOOD CA 90262 871213579 RENTAL DE 783974 1280833 ERC 804-806 S LONG BEACH BLVD LLC 2600 INDUSTRY WAY LYNWOOD CA 90221 872565785 RENTAL CA 0 3340343 ERC 4277 SOUTH WESTERN LLC 4277 S WESTERN AVE LOS ANGELES CA 90062 800583692 RENTAL CA 501(C)(3) 509 (A)(2) ERC 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0