Nonprofit · EIN 95-2546360
ECONOMIC RESOURCES CORPORATION
Tax-exempt · LYNWOOD, CA 90262
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $7,498,996 | $3,031,095 | $4,467,901 | $32,578,274 | $2,292,829 | $30,285,445 |
| June 30, 2024 | 990 | $5,551,976 | $2,755,983 | $2,795,993 | $27,123,071 | $1,565,561 | $25,557,510 |
| June 30, 2023 | 990 | $4,551,713 | $2,715,672 | $1,836,041 | $24,184,491 | $1,405,129 | $22,779,362 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,788,415
- of which government grants
- $1,673,415
- Program service revenue
- $5,098,005
- Investment income
- $523,920
- Net gain from sales of assets
- $10,950
- Other revenue
- $88,656
Expenses
- Grants and similar amounts paid
- $30,450
- Compensation of officers, directors and key employees
- $582,577
- Other salaries and wages
- $501,111
- Salaries, compensation and benefits (total)
- $1,292,671
- Professional fundraising fees
- $0
- Legal fees
- $9,003
- Accounting fees
- $44,424
- Occupancy
- $779,810
- Depreciation
- $462,922
- Program services (functional)
- $2,504,690
- Management and general (functional)
- $526,405
Balance sheet and other
- Total assets, start of year
- $27,123,071
- Total assets, end of year
- $32,578,274
- Total liabilities, end of year
- $2,292,829
- Net assets, end of year
- $30,285,445
- Land, buildings and equipment
- $18,543,748
- Publicly traded securities
- $7,658,949
- Net assets without donor restrictions
- $30,285,445
- Gross receipts
- $15,155,420
- Employees
- 7
- Volunteers
- 9
- Year formed
- 1968
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SAMUEL HUGHES | PRESIDENT/CEO Trustee or director, Officer | 38 | $384,963 | $32,249 |
| NANCY H IKEGAMI | VP OF FINANCE Officer | 38 | $177,682 | $18,607 |
| ALBERT CARROL | INVESTMENT MANAGER Highest-paid employee | 38 | $173,296 | $18,607 |
| MICHAEL NAGIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRACEY MITCHEL-LAI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREA COHEN JACKSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HOONIE KANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TORI FISK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAREY JENKINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JIDE ALADE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES MCLURKIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRISTINE VILLEGAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SAMUEL HUGHES | PRESIDENT/CEO Trustee or director, Officer | 38 | $325,621 | $31,936 |
| NANCY H IKEGAMI | VP OF FINANCE Officer | 38 | $194,928 | $18,452 |
| ALBERT CARROL | INVESTMENT MANAGER Highest-paid employee | 38 | $193,131 | $13,339 |
| MICHAEL NAGIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRACEY MITCHEL-LAI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREA COHEN JACKSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HOONIE KANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TORI FISK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAREY JENKINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JIDE ALADE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES MCLURKIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRISTINE VILLEGAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KYLE DAVIS | DIRECTOR (THRU 01/2024) Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SAMUEL HUGHES | PRESIDENT/CEO Trustee or director, Officer | 38 | $247,195 | $31,633 |
| NANCY H IKEGAMI | VP OF FINANCE Officer | 38 | $184,574 | $18,285 |
| ALBERT CARROL | INVESTMENT MANAGER Highest-paid employee | 38 | $187,358 | $11,627 |
| CHARLES MCLURKIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREA COHEN-JACKSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JIDE ALADE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFFREY TAMKIN | DIRECTOR (THRU 10/2022) Trustee or director | 1 | $0 | $0 |
| KYLE DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NEVILLE L RHONE JR | DIRECTOR (THRU 10/2022) Trustee or director | 1 | $0 | $0 |
| MICHAEL NAGIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRACEY MITCHEL-LAI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HOONIE KANG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TORI FISK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRISTINA VILLEGAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2600 INDUSTRY WAY, LYNWOOD, CA 90262-4008
- In care of
- % NANCY IKEGAMI
- Principal officer (990 for 2024)
- SAMUEL HUGHES, 2600 INDUSTRY WAY, LYNWOOD, CA 90262
- Signed the 990
- SAMUEL HUGHES, PRESIDENT & CEO
- Phone
- (310) 537-4610
- Website
- WWW.ECONOMICRESOURCES.ORG
- Return prepared by
- WINDES INC
California records
California keeps its own records of charities and corporations. Search them by EIN 95-2546360 or by the name ECONOMIC RESOURCES CORPORATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
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.
Program accomplishments
- SEE SCHEDULE OExpenses $2,504,690 · grants $30,450 · revenue $5,115,318
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 95-2546360
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1969
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $32,578,274
- Income (IRS master file)
- $15,155,420
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $7,498,996 | $3,031,095 | $32,578,274 | XML |
| 990 | June 2024 | $5,551,976 | $2,755,983 | $27,123,071 | XML |
| 990 | June 2023 | $4,551,713 | $2,715,672 | $24,184,491 | XML |
| 990 | June 2022 | $7,644,583 | $2,422,504 | $22,040,266 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 95-2546360).
Questions about ECONOMIC RESOURCES CORPORATION
- What is the EIN of ECONOMIC RESOURCES CORPORATION?
- The employer identification number (EIN) of ECONOMIC RESOURCES CORPORATION is 95-2546360.
- Is ECONOMIC RESOURCES CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1969.
- Are donations to ECONOMIC RESOURCES CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ECONOMIC RESOURCES CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ECONOMIC RESOURCES CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ECONOMIC RESOURCES CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of ECONOMIC RESOURCES CORPORATION?
- The 990 for the year ended June 30, 2025 names SAMUEL HUGHES.
- Who are the officers and directors of ECONOMIC RESOURCES CORPORATION?
- The 990 for the year ended June 30, 2025 lists 12 people; 3 received compensation from the organization, the highest $384,963 (SAMUEL HUGHES, PRESIDENT/CEO).
- How much revenue does ECONOMIC RESOURCES CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $7,498,996, expenses of $3,031,095 and total assets of $32,578,274 at year end.
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