In July 2024, the San Gabriel Chamber of Commerce, a stalwart business entity since 1940, permanently closed its doors after years of controversy and the mass resignation of its board of directors, leaving behind a wide trail of debt.
At the time of the closure, the Chamber’s June 30, 2024, tax return indicated it was $183,000 in the red, still owing the entire balance of a COVID-era SBA Loan of $185,000 obtained in 2020. According to its tax filings, the Chamber had not been solvent since 2021.
Sandy Rosco, the Executive Director of the Chamber for eighteen years, was receiving an aggregate salary and benefits totaling $114,000 per year at the time of closure.
In 2023, the SG City Council declined to give the Chamber an outright gift of $31,680 as they had done in the past. The SGCC Board then proposed an alternative plan to ease the Chamber’s financial burden by offering the City a “Presidential Circle Membership.” This was exclusive to the City of San Gabriel at a cost of $23,000 with no contract and no accountability.
When San Gabriel City Councilmember John Wu asked at the 2023 City Council meeting about the benefits of the Presidential Circle Membership (which appeared to have no more benefits than a regularly priced membership), spokesperson for the Chamber, Gilda Moshir, stated, “You received a letter outlining all your benefits. I want to make clear this is not a contract; this is a membership. It is not meant to be contractual.”
“So, the membership is more like spiritual?” Wu asked. “If we are granting anything, including funds, then we should have a service agreement listing a scope of work and our expectations, with the contingency that the agreement be signed.”
Soon thereafter, the Presidential Circle Membership offer was rescinded.
Additionally, in February 2023, in another attempt to raise funds, the SGCC Board established the San Gabriel Valley Business Community Foundation, a 501(c)(3) entity. At the time of publication, the entity’s Statement of Information filing with the Secretary of State has been delinquent since 2024. The current officers are listed as Richard Valenzuela, CFO; Wendy Holten, CEO; and Gilda Moshir, Secretary.
The Web site link for SGVBCF indicates the page is under construction. The word salad on the Zoominfo page for the nonprofit explains its services. “Donors to the San Gabriel Business Community Foundation will benefit from the wide array of services offered by the California Community Foundation and a permanent connection to the San Gabriel community. Many different types of gifts, from securities and real estate to bequests and charitable remainder trusts, can be arranged through the Foundation.”
Prior to his affiliation with the SGVBCF, Valenzuela was on retainer with the SGCC to monitor the printer ink levels at the Chamber office for $100 per month.
Currently, Moshir is the Governor of Rotary District 5300, which comprises 57 clubs and approximately 1800 members in parts of Los Angeles and Kern Counties. On her business Web site, she states that she teaches “financial literacy from the basics of budgeting to understanding the importance of saving, planning, knowing all your options when it comes to growing your income, understanding how to diversify your income and your access to your hard-earned income.”
However, Moshir was only one of many board members who appeared to have lost oversight of the SGCC’s finances prior to its demise.
While discussing their financial situation at a June 8, 2023, board meeting, SGCC Treasurer Shelly Chia reported that they were $78,000 in the red; however, they had applied for several grants, including a $20,000 Economic Development Grant from Los Angeles County and a $10,000 relocation grant from the City of San Gabriel. Although the Chamber received the $185,000 SBA Loan, there is no record of it being repaid. In the transcript of the meeting minutes, SGCC Board Member Paul Cheng, currently an Arcadia City Council member, said, “Just take the money.”
There is no record of whether SGCC received the two grants. They did not receive any money from the City of San Gabriel. Their bank account remained deeply in the red.
Still desperate for funds, the Board of Directors decided to publish a ‘Biz Journal’, selling $13,500 worth of advertising and sponsorships in the journal. The minutes of the March 23, 2023, meeting reflect that the Board of Directors discussed what to do with the money collected for the journal, as it was determined that the journal would not be published.
Devlin Chung, Board Member and Financial Advisor for Edward Jones, said in the minutes, “Sandy’s payroll is about $6,000? So that should be three more months. I think the first action we should take is NOT (their emphasis) give the money back.”
The business journal was never published, and the money was not returned. The Chamber Board failed to pay its print vendor while continuing to pay its Executive Director a six-figure salary. A few months later, a planned fundraising event was canceled without explanation.
Earlier in January 2022, the SGCC also began selling COVID test kits during the Pandemic, when they were offered elsewhere for free. Chamber members got “the special rate of $35 for two or $20 for one,” while non-members paid $40.
“Payment is due at the time the tests are picked up. Payment must be made in exact cash; no change will be given. (their emphasis) Members and San Gabriel residents and businesses may pay by check.”
The closure of SGCC remains a mystery regarding accountability and succession. Rosco’s LinkedIn profile indicates that she is still the Executive Director of the SGCC. Communication from the Chamber has not been forthcoming.
However, recently, some of the former players have started to emerge.
According to a newsletter published April 5, 2025, by Doyle Accident & Injury Attorneys, LLC., Rosco and Sally Chan are the co-founders of the newly created Leaders Uniting for Excellence, the Luxe Business Network.
Luxe Business Network is described as “uniquely positioned to serve high net-worth individuals, professionals, and business owners through a tiered membership system. New networkers with tight budgets can access events at an affordable rate. At the same time, those seeking more exposure and opportunities can upgrade for additional amenities, such as speaking engagements and enhanced visibility within the community.”
“Luxe Business Network is planning multiple events throughout each month, including morning, lunch and evening sessions,” the newsletter continues. “Attendees will enjoy fine food, insightful speakers, interactive networking games and ample opportunities for both standing and seated, freestyle networking.”
The new for-profit corporation, formed in January of 2025, has a mailing address in San Marino and appears to be operating throughout the San Gabriel area.
The corporation bears a strong resemblance to a chamber of commerce concept and has recently hosted networking events at Luna’s Bar and Grille and the San Gabriel Hilton Hotel. Posts on Instagram and Facebook report “many former members of the San Gabriel Chamber of Commerce attended.”
According to former Chamber officers, who spoke to this reporter on the condition of anonymity, the Luxe Business Network’s advocates are former SGCC members who are now supporting the venture, with memberships starting at approximately $320 per person.
As SGCC members try to regroup, it appears the same forces responsible for unfulfilled programs and unpaid invoices have reinvented themselves in the community, offering up the same promises and programs, just in different formats.
There is a Latin warning: “caveat emptor.” In English that translates to: “buyer beware.”
