GENESIS LA ECONOMIC GROWTH CORPORATION

Los Angeles, CA | Los Angeles County
Economic Development

Overview

GENESIS LA ECONOMIC GROWTH CORPORATION
95-4712513
801 S GRAND AVE STE 775
Los Angeles, CA 90017
Los Angeles County
(213) 533-8900

Mission Statement info

THE PRIMARY PURPOSE OF THE ORGANIZATION SHALL BE TO COMBAT COMMUNITY DETERIORATION BY ASSISTING, IMPLEMENTING, SUPPORTING OR CONTRIBUTING TO THE SUPPORT OF PROGRAMS, PROJECTS AND ACTIVITIES OF PUBLIC NATURE DESIGNED TO STIMULATE ECONOMIC DEVELOPMENT.

Founded info
1998
Total Employees info
10
Total Volunteers info
0
CRA Category info
  • Economic Development
Nonprofit location info
  • Majority Minority Census Tract
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Nonprofit Classification (NTEE Code) info
S31

S - Community Improvement, Capacity Building

Urban & Community Economic Development

Organizations that provide technical assistance, loans, loan guarantees or other forms of management support to help impoverished urban communities create local jobs, sustain local services and build healthier local economies.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
CRA Certification info
Has not applied.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
9/17/2013
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
Most Recent CDFI Award info
2019
$1,500,000
Capital Magnet Fund
2018
$1,200,000
Capital Magnet Fund
2017
$776,500
CDFI Financial Assistance
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$7M
Revenue
$6.9M
Assets
$52M
Exempt Ruling Date info
1999-09
Deductibility Status info
Deductible
Tax Filing Year info
2018
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
CA
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Nonprofit Location

Physical Address info
801 S GRAND AVE STE 775
Los Angeles, CA 90017
Los Angeles County
FIPS Geocoded Address info
31080
MSA/CBSA info
06
State info
037
County info
2077.10
Tract info
Unknown
Income Level info
Core-Based Statistical Area info
Los Angeles-Long Beach-Anaheim, CA
Combined Statistical Area info
Los Angeles-Long Beach, CA
Metropolitan Division info
Los Angeles-Long Beach-Glendale, CA
Area Type info
Metropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 53.46%
Designated Distressed Census Tract info
Underserved Census Tract info

Market Data

Census Tract County
2077.10 Los Angeles County
Population
Total Population 3,197 10,081,570
Total Households 2,153 3,316,795
Income
Median Family Income (Census*) $0 $68,044
Median Family Income (2019 FFIEC) $73,100 N/A
Tract Income Percentage 0% N/A
Below Poverty Level 27.5% 14.9%
Unemployment Level 8.3% 6.1%
Housing
Total Housing Units 2,569 3,542,800
Total Owner-Occupied Units 11.1% 45.8%
Total Renter-Occupied Units 72.7% 54.2%
Total Vacant Units 16.2% 4.4%
* Census tract income based on 2019 Census estimated data; County income based on 2019 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

10
Total Voting Members
in Governing Body
info
10
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Tom De Simone
President
(213) 533-8900
Principal Officer info
Tom De Simone
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.