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Economic Resources Corporation

Economic Resources Corporation

Lynwood, CA 90262
Tax ID95-2546360

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Amount

$USD
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About this organization

Revenue

$3,557,877

Expenses

$2,393,940

Website

economicresources.org

Mission

Schedule O

About

ERC 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.

Interesting data from their 2020 990 filing

The non-profit's mission, as described in the filing, is “Schedule o”.

When describing its duties, they were characterized as: “Schedule o”.

  • The non-profit has complied with legal regulations by reporting their state of operation as CA.
  • The filing shows that the non-profit's address as of 2020 is 2600 INDUSTRY WAY, LYNWOOD, CA, 90262.
  • As of 2020, the non-profit has reported a total of 8 employees on their form.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor-advised fund.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is $1,163,937.
  • The compensation of the CEO of the organization is subject to review and approval by an independent body.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 11 independent voting members.
  • The organization was formed in 1968.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule J.
  • The organization is required to file Schedule O.
  • The organization pays $1,169,850 in salary, compensation, and benefits to its employees.
  • The organization pays $0 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization's financial statements were reviewed by an accountant.

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