Valley Economic Development Center Inc
Valley Economic Development Center Inc
Want to make a donation using Daffy?
Lower your income taxes with a charitable deduction this year when you donate to this non-profit via Daffy.
Do you work for Valley Economic Development Center Inc? Learn more here.
About this organization
Mission
To create and sustain jobs and businesses in our communities by providing high-quality economic development services
About
VEDC small business loans programs: VEDC is a certified community development financial institution (CDFI) and provide access to capital for creating and/or sustaining jobs via making small business loans with funds received from numerous sources including several federal government agencies, major banks, and various other financial institutions. These loans ranged in amounts between $50,000 and $500,000 and were disbursed to existing minority and/or women owned small business entrepreneurs and other small business owners who were located within, or had employees who reside in, low to moderate income areas situated throughout California. As a result of the filing bankruptcy on July 2, 2019 VEDC discontinued providing small business loans to its constituents under the small business loan/programs.
Interesting data from their 2020 990 filing
The non-profit's aim, as indicated in the filing, is “To provide financing assistance, management consulting, and training to entrepreneurs and small business owners in and around los angeles county and throughout california. on july 2, 2019 valley economic development center filed for bankruptcy. the filing for bankruptcy impacted all of vedc's programs.”.
When referring to its functions, they were specified as: “To create and sustain jobs and businesses in our communities by providing high-quality economic development services.”.
- The non-profit has reported their operating state as CA, as required by law.
- As stated in the filing, the non-profit's address in 2020 was 5121 VAN NUYS BLVD 3RD FLOOR, VAN NUYS, CA, 91403.
- The non-profit's form reports a total of 38 employees as of 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$8,466,095.
- The organization has 12 independent voting members.
- The organization was formed in 1976.
- The organization pays $3,058,557 in salary, compensation, and benefits to its employees.
- The organization pays $253,948 in fundraising expenses.
Additional Non-Profits in the area
By donating on this page you are making an irrevocable contribution to Daffy Charitable Fund, a 501(c)(3) public charity, and a subsequent donation recommendation to the charity listed above, subject to our Member Agreement. Contributions are generally eligible for a charitable tax-deduction and a yearly consolidated receipt will be provided by Daffy. Processing fees may be applied and will reduce the value available to send to the end charity. The recipient organizations have not provided permission for this listing and have not reviewed the content.
Donations to organizations are distributed as soon as the donation is approved and the funds are available. In the rare event that Daffy is unable to fulfill the donation request to this charity, you will be notified and given the opportunity to choose another charity. This may occur if the charity is unresponsive or if the charity is no longer in good standing with regulatory authorities.